Insurance

Best Casualty Insurance Coverages in 2022

Casualty insurance is a problematically defined term which broadly encompasses insurance not directly concerned with life insurance, health insurance, or property insurance. These kinds of incidents can incur heavy financial responsibilities and without casualty coverage, your pocket will suffer these huge expenses which can be devastating.

It is easy to understand how essential this insurance can be. However, finding top casualty insurances can be a bit complicated, depending on what type of insurance and the extent of coverage you require.

To help you reduce the stress of having to go through hundreds of insurance companies, we selected the top insurance companies to help you find the best deals.

Some of the criteria you need to consider when selecting the best insurance companies include the cost of the insurance, the availability of the coverage you need, the financial strength of the company, customer satisfaction, and ease of access.

List of the Best Casualty Insurance Companies for 2022

  • Allstate: Best value policy
  • Amica Mutual: Best Policy for Homeowners
  • GEICO: Best for automobile insurance
  • Lemonade: Best Coverage for Renters
  • The Hartford: Best Policy for Businesses
  • State Farm: Overall Best

#1. Allstate– Best Value Policy

Allstate offers a variety of policy coverage and is available in all 50 states. It allows its clients to save up to 25% on the cost of the policy by combining different policies.

When it comes to casualty insurance, Allstate I highly rated across the United States. In 2021 Allstate became the largest personal line publicly held by the general public.

The company has been providing insurance coverage to the general public since 1930. AM Best gives the company an A+ (superior) rating for its financial strength.

According to J.D. Power Home Insurance in 2021, Allstate ranks 10out of the 21 companies studied. It also ranks 8th in the 2020 United States Auto Claims Satisfaction review.

Customers can purchase various types of insurance policies from Allstate, which includes casualty insurance. Customers that desire to purchase a full-coverage option can do that easily at Allstate. Some of the policies you can purchase from Allstate include:

  • Auto insurance
  • Business insurance
  • Condominium insurance
  • Home insurance
  • Life insurance 
  • Motorcycle insurance
  • Off-road insurance
  • Renters insurance
  • Roadside insurance

Allstate provides homeowners the opportunity to leverage claims-free and reasonable payment discounts. The insurance company also provides drives different ways to earn,
which includes, student discount, good driver discount, new car insurance
discount, paper-free billing discount, and early signing discount.

Also, renters, who are retirees and are over 55 of age can enjoy a discount on their coverage from Allstate. Clients who hold more than one policy from Allstate will also enjoy a discount.

While it is possible to get a coverage quote online from Allstate, customers that hope to get personalized coverage will need to work closely with an agent. Allstate works with over 34,000 Agency Owners and professional Sales personnel (licensed) across the nation.

Therefore, it is easy to find a local agent to work with. Clients can also file some of the available claims online using the user-friendly Allstate mobile app.

Pros 

  • Available in all 50 states
  • There is a variety of policies to select from
  • Combine different kinds of insurance coverage and enjoy up to 25% discount

Cons

  • Requires clients to work with a local agent to customize their coverage
  • Not everyone can access Allstate online quotes

#2. Amica Mutual – Best Policy for Homeowners

When it comes to homeowner’s casualty insurance, Amica Mutual has the highest customer service rating for its variety of discounts.

Amica is also reputable for assisting its clients who need a home improvement to connect to a network of trustworthy contractors.

Amica Mutual remains the oldest insurance company in the United State and was founded in 1907 in Rhodes Island. The insurance company provides coverage for homeowners and also a coverage policy for renters.

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Other policies from this insurance company include:

  • Life insurance
  • Small business insurance
  • Boat insurance
  • Motorcycle insurance
  • Events and pet insurance
  • Condominium insurance

Amica Mutual provides homeowners with affordable casualty insurance with a consistently high rating from customers. The company is also reputable for constantly paying out dividends to eligible clients.

Clients also enjoy various opportunities to enjoy discounts through bundling different policies. Some of the discounts you can enjoy from Amica Mutual include auto-pay discount, loyal customer discount (for customers that are consistent for 2 years+), special equipment discount (availability of equipment such as fire alarm system, sprinkler, bugler alarm system, etc.).

Customers who purchase a new home or remodel are also eligible for a discount from Amica.

For people living in Hawaii and Alaska, homeowner’s insurance is not available for them. Depending on your state, certain policies may not be available to you. Amica Mutual can also provide quotes via the phone or online and the services are available 24/7.

Amica does not make use of local agents, therefore, customers that prefer in-person assistance with their policy might want to try other insurance companies.

When it comes to financial strength, AM Best gives the company an A+ (Superior) rating. It also receives the top marks across all categories of J.D Power’s yearly U.S Insurance study from 2001 to 2021.

Pros 

  • Provides a variety of opportunities to save on your policy
  • Provides customers with yearly bonuses
  • Enjoys top rating for customer service and claims satisfaction
  • They provide clients the opportunity to apply for a quote online
  • Customer service is available 24/7

Cons  

  • Amica Mutual services are not available in some states
  • They do not make use of local agents

#3. GEICO– Best for Automobile Insurance

GEICO insurance is one company that enjoys a good customer rating for its 24/7 customer service availability all year round. If offers a variety of coverage for different types of vehicles. When it comes to the best choice for automobile casualty insurance.

GEICO is one company that has been around since 1936 and is responsible for writing over 17 million policies across the United States currently. GEICO is available in all 50 states including Washington D.C, which makes it easy to access from anywhere in the country.

The company has built a strong reputation for itself as a reliable company for automobile coverage, discounts, easy access to customer service, and claims satisfaction.

Many drivers give it a high rating as the best car insurance company available in the United States.

According to the customer satisfaction ranking by J.D. Power in 2020, the company has a very good ranking. AM Best also ranks the company A++(superior) for its financial muscle. GEICO customers can buy casualty insurance for their cars, motorcycles, boats, ATVs, RVs, and even collector cars.

However, GEICO does not offer Gap Coverage currently.
GEICO provides drivers the opportunity to enjoy numerous discounts when they purchase their coverage. The company also offers accident pardons to drivers in some states. Customers can either purchase their coverage online or from a local agent.

Nonetheless, there are areas with a limited number of agents. You can also track claims or report claims online via the mobile app.

You can also report or track a claim by calling the customer assistance line or reporting to your local agent.

Pros 

  • Customer service is available 24 hours a day and 7 days a week
  • The company enjoys an excellent rating from customers
  • Provides coverage for different types of vehicle
  • There are a variety of opportunities to earn a discount from the company
  • Customers can purchase their coverage online
  • GEICO service is available in all 50 states including Washington D.C.

Cons 

  • Some areas have a limited number of agents
  • Does not offer Gap coverage
  • Accident pardon is not available in all 50 states

#4. Lemonade – Best Coverage for Renters

Lemonade is a state-of-the-art insurance company that relies on AI technology to provide insurance coverage for renters. It offers cheap coverage with a starting fee as low as $5 per month and is revered for its high customer satisfaction.

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Lemonade is relatively a young company that came into existence in 2015. The company aims to overturn the traditional methods of writing homeowners’ and renter’s insurance by providing an easier and more effective method.

Lemonade insurance policies are managed through their mobile app, which is highly rated among others.

The mobile app is designed to provide direct protection for its clients seeking homeowners, renters, co-op insurance, and condominium insurance. Lemonade also provides pet coverage to clients. All Lemonade insurance coverage comes at an excellent price.

Lemonade made it to this list of best casualty insurance in 2022 for its affordable cost. Customers can also file their claims and wait for payouts almost instantly.

Lemonade enjoys a top rating from its satisfied customers. Customers have the opportunity to buy and manage all their coverages, file a claim or even cancel their coverage at any time.

Purchasing a policy from Lemonade takes less than 90 seconds to do with its mobile app. Once your claim is approved, you can receive your pay-out in as little as three minutes. Customers receive their claim payments directly to their bank account after deductibles have been removed.

Using your mobile app or your computer, you can get online quotes from lemonades in a few minutes. Note that, there are no local agents for Lemonade and, therefore, all transactions are carried out online.

Lemonade customers service is also restricted to emails alone. While the company provides phone numbers to its clients in case of an emergency or when they are unable to access their claims and policies online, there is no toll-free number to deal with everyday problems issues clients may need answers from the company.

Since Lemonade is still young, there is no AM Best rating yet for the company. However, Demotech has provided an A (Exceptional) rating for Lemonade in terms of financial stability.

Among renter’s insurance providers, Lemonade has also received a great customer satisfaction rating from J.D. Power’s 2021 Home Insurance Study.

By the end of 2021, Lemonade was providing coverage for people in 28 states which including Washington D.C. For the list of available states, follow the link.

Pros  

  • Affordable coverage fees starting as low as $5
  • Customer’s satisfaction is very high
  • Easy to manage app-based insurance policy
  • You can purchase insurance coverage within three minutes
  • Lemonade pays out claims within three minutes

Cons

  • Service is available in only 28 states
  • Lemonade does not have local agents for its services
  • Provides only limited coverage bundles.

#5. The Hartford – Best Policy for Businesses

If you are looking for a company that offers good business casualty insurance, Hartford is the company for you. The Hartford provides clients with the opportunity to secure up to $4million in liability protection.

Customers can access Hartford services online with a variety of policy options
to choose from.

The Hartford has been in existence since 1810 and has grown its customer base substantially over the years to over a million.

The company provides coverage ranging from home to auto, umbrella coverage, and small business insurance. Using the online platform, customers can purchase policies in minutes.

There are three categories of insurance available for small businesses from Hartford, which are:

  • Business property coverage
  • General business liability
  • Business income security

Customers who wish to purchase all the coverage types can go for the Business
Owner’s Policy, which is a combination of the three policies.

General Business Liability provides up to $2 million per occurrence with an aggregate of $4 million.

Customers can purchase policies online or through a local agent.

Hartford’s Business Casualty insurance can help business owners secure their assets with insurance policies for professional liability, auto liability, workers’ benefit, umbrella policy, and credit/ political hazards.

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Hartford’s insurance coverage is available in 47 states, which includes Washington D.C. However, the coverage types differ according to different states.

While the company enjoys a very high rating on its website by over 1000 customers, it did not enjoy a good rating from J.D. Power 2021 U.S small commercial Insurance Study.

Pros

  • Provides aggregate commercial coverage of up to $4 million to customers
  • Provides online quotes for its clients
  • Customers can purchase policies directly online or through an agent

Cons 

  • More expensive than other competitors on the same level
  • Has a very poor rating from J.D. Power

#5. State Farm – Overall Best

State Farm stands out among the rest when it comes to casualty insurance for many reasons. It has enjoyed high-satisfaction ratings consistently and offers different types of policies across the United States.

The company was founded in 1922 and has become a household name in the insurance company. They are responsible for providing more vehicle and home coverage in the United States than other insurance companies.

There is a variety of casualty coverage and property, insurance options available from State Farm. Therefore, you can combine different policies to get your desired coverage.

Customers can get insurance cover for the following at State Farm:

  • ATV
  • Renters
  • Home
  • Autos
  • Condo
  • Boat
  • Life
  • Health
  • Small businesses
  • Motorcycles
  • Liability
  • Disability insurance

When it comes to financial strength, State Farm has an A++ rating for its financial strength from AM Best. Customers have consistently rated State Farm very highly for its high level of customer satisfaction.

According to J.D. Power’s U.S Home Insurance Study of 2021, the company is fourth overall in the United States.

State Farm insurance policy is available in all 50 states including Washington DC. Therefore, customers can access coverage from any part of the country.

Nonetheless, while State Farm services are available across the country, not all offers and discounts are available in all the states.

Customers can easily get most of their quotes online or through a local agent. You can combine different policies from State Farm to earn some discount from the company.

When it comes to standalone discounts, State Farm is a bit limited.

You can file for claims online or using the State Farm mobile app.

You can also visit a local agent to file your claims. For assistance with filing claims, policy coverage, or addition, State Farm provides a comprehensive library of information for its clients.

Other ways you can get assistance from State Farm is by contacting their customer care, independent agents, or talking to their local agent.

Pros 

  • Customers can access coverage in all states including all districts of Columbia
  • They offer a variety of coverage to customers
  • Customers can access quotes online
  • Elaborate resources to help clients with common policy issues
  • The company is the best for a great satisfaction rating

Cons 

  • Local agents manage policies
  • Some services and discounts are available in only select states

Conclusion

While it is not our prayer to ever come to the point of needing casualty insurance, it remains an important product to purchase if you have the good of your financial assets and the interest of your family at heart.

Casualty insurance protects you from some types of litigations and possible loss when found guilty/liable for injuries that occur to someone else or damage their property may incur.

It is essential to look for the right type of insurance when shopping for casualty insurance. By this, we mean the type that best provides coverage for all your needs.

Settling for an insurance company that allows you to combine several policies can help you save costs on your policy and provide you the rest of the mind you deserve.

References/Credits

Naij Arena Scholarship Blog (www.naijarena.com), is an online blog for the latest news, information and resources about finance, business, education and scholarship opportunities.

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