QBE Car Insurance Company Review
QBE Car Insurance Company is part of the QBE Farmers Union Insurance and a member of the QBE Insurance Group Ltd. family, according to the corporate website. With a home office in Greenwood Village, Colorado, the corporate base is in the Denver region and employs about 150. An additional 60 employees work out of field locations and about 400 agents sell the company’s products at the local level. The parent company was initially founded in Australia more than 116 years ago. Its corporate office remains in Australia and its worldwide employees tally more than 14,000.
The National Farmers Union Security Association was formed in 1945 as a life insurance company for farmers. It has since changed its name and expanded to include homeowners and farm insurance, renters insurance, health insurance, rural telecommunications and business insurance. It became a member of the QBE Insurance Group in 2005.
QBE Car Insurance Options
Standard car insurance options are on the list with QBE Car Insurance Company, with the typical coverage for liability, comprehensive and collision. Agents can create a “Protection Profile” for clients to best figure out your needs and ascertain what discounts may be available for those needs. The company website mentioned moving hay as a possible part of the protection you may need, making it evident the firm still caters to rural areas.
The standard range of discounts is also available through QBE. These include prepaid premium discounts for paying one lump sum rather than meting out payments monthly, multicar discounts and senior citizen discounts. Other discounts include one for proactive clients who request a quote at least eight days before their current policy expires and one for insuring five or more fleets of vehicles.
Sticking with QBE Car Insurance also has its rewards. If you continue QBE car insurance coverage for at least four years, you may not get a discount on your rates per se, but you do get one accident waived.
A program geared toward teen drivers is also part of QBE’s offerings, with brochures, tips, driving tests and booklets available on the company’s website. It is unclear if the teen driver receives a discount for participating in the program.
QBE Around the World
QBE originated in Australia, but it continues to expand its reach into the U.S. and beyond. The insurance group now operates in 44 countries and continues to amass new acquisitions. Recent acquisitions that have been completed or are being discussed in the U.S. alone include Balboa Insurance Company, Renaissance Re, and Nau County Insurance Company, according to the corporate site. QBE is credited with more than $4.9 billion in insurance writing and more than $8.1 billion in premiums.
QBE has taken its place as one of the leading companies for insurance and reinsurance, making the cut into the top 25 on a global basis. It also remains the largest international group for general insurance and reinsurance in Australia.
Outside Stats on QBE
Once consumers are aware of the background of QBE Car Insurance, the marketing may seem a bit ironic. The QBE Farmers Union Insurance website uses the motto of “working together to build stronger communities,” and stresses the personalized touch as what makes the company stand out from other car insurance carriers. “Your agent will get to know you personally,” the site promises, noting that the agents will be living in your community and ready to offer personalized quotes.
The irony comes in when this down-home, personalized service is contrasted with the massive global conglomeration being constructed by QBE Insurance Group. If the QBE Farmers Union Insurance Company is able to keep its personalized service and feel it would be ideal to fortify the reputation the company has already built since its inception more than 50 years ago. When large corporations become involved with business, history has shown that personalized service may be one of the first things that becomes unnecessary in the quest to do what large corporations do best: make massive profits.
QBE Insurance Group Notable Notes
QBE Insurance Group has incredibly strong financials due to its huge reach across the globe, and it also has strong subsidiaries. The parent company of QBE Insurance Group received an A rating from A.M. Best, which translates as excellent for its financial strength and practices.
National Farmers Union and United Security Insurance Company, a subsidiary of the former, also received high ratings from A.M. Best. The two companies received an A and A-, respectively, both of which translate to excellent, the QBE website notes.
While QBE Insurance Group is a huge company throughout the world and a strong financial leader in the insurance and reinsurance realm, not much is readily available about the customer service and car insurance aspect of this multi-billion dollar company.