About Acceptance Insurance
Acceptance Insurance is an insurance provider headquartered in Nashville, Tennessee and operates over 350 retail locations across the United States. The company offers policies in 12 US states, which include Alabama, Florida, Georgia, Illinois, Indiana, Missouri, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Virginia. Acceptance Insurance prides itself on giving customers what they want and how they want it with the slogan, “You. Your Terms. Accepted.”
The insurance provider markets its offerings through the following brands: Acceptance Insurance, Yale Insurance and Insurance Plus. Acceptance Insurance’s parent company is a publicly traded company called First Acceptance Corporation [NYSE: FAC] based in Delaware. The company’s president and CEO is Joe Borbely. Last year, the company acquired 83 Titan Insurance retail locations across the United States that were previously operated by Nationwide. Acceptance plans to use these locations to expand their offerings to four new US states including Arizona, California, Nevada and New Mexico.
On a limited basis, Acceptance Insurance does sell its insurance policies through independent agents and claims to be a big supporter of helping these agents grow their businesses. The requirements they ask of independent agents wanting to apply are an agency license in good standing with the Department of Insurance in the state of which they want to work, agency production information and an agency P&C Errors & Omissions policy with at least $300,000 of aggregate limits.
At the end of 2010, A.M. Best Co. gave First Acceptance Insurance Group and its members the financial strength ratings of B (Fair) and issuer credit ratings of “bb+”.
A.M. Best gave its parent company, First Acceptance Corporation, the issuer credit rating of “b” of First Acceptance Corporation. The outlook for all ratings remains positive.
Pros and Cons
Below we weigh some of the pros and cons of Acceptance Insurance based on what the company offers as well as reviews from customers.
Auto Insurance Discounts
One way that Acceptance customers can save money is by choosing a higher deductible with the insurance provider. Acceptance Insurance does not list other discounts on their website, so therefore if you are interested in learning more about discounts that may be available to you, please contact the company directly.
Typical ways that you can save on car insurance policies include maintaining a good driving record, maintaining consistent insurance, driving statistically safe cars, getting married, having multiple cars on a policy, bundling with another type of insurance like renters insurance with the same company, paying premiums up front rather than in small amounts over time, installing better safety features in your car and switching to paperless billing statements.
- Basic Liability Coverage: This type of coverage is required by most US states in order to drive legally. It is designed to protect drivers from an accident for which they are at fault. For example, if you hit another car and cause damage and/or hurt the person driving the other vehicle, this type of insurance will cover the costs of the damage to the other party’s property as well as their medical expenses.
- Comprehensive and Collision: This coverage will protect you from damage or total loss in an accident as well as from theft, vandalism and windshield damage. If you are at fault in an accident or the damage is caused by a natural disaster, you will be reimbursed for these damages. This coverage is also required by most US states.
- Uninsured or Underinsured Motorist: Uninsured or underinsured motorist coverage provides financial protection for insured drivers if they get into an accident caused by a driver that does not have auto insurance or does not have the correct kind of insurance to fully cover the damage costs.
- Non-Standard Personal Auto Insurance: This type of insurance is offered to those who are unable or unwilling to get a standard insurance policy. Some reasons for this might be that the individual has an unsatisfactory payment history, inability to keep continuous insurance coverage or a bad driving record. These people are looking for the absolute bare minimum insurance that they must legally obtain.
- SR22 Auto Insurance: SR22 Insurance is required for drivers in a variety of scenarios including being involved in an at-fault accident without insurance, caught without proper auto insurance coverage for that state, convicted of a DUI or DWI and having multiple traffic offenses over a short period of time. This is a type of insurance that you hope to never need, but should you find yourself in the situation when it is required, Acceptance Insurance claims to offer solutions.
- Non Owner Auto Insurance: The purpose of non owner car insurance is to protect drivers that do not own a car, but are able to drive occasionally. This coverage will cover damages in an accident that is your fault when driving someone else’s vehicle.
- Teenager Auto Insurance: Drivers who just recently received their driver’s license are considered at a higher risk of getting a traffic violation or getting into an accident than others, which causes premium costs for them to go up. Acceptance claims to offer a variety of coverage options for teens and young drivers.
- Other insurance types Acceptance claims to offer:
- Bad Credit Auto Insurance
- Senior Auto Insurance
- Non Standard Auto Insurance
- High Risk Auto Insurance
- Renters: You can protect the belongings in your rented home in case of an accident or a natural disaster. A policy can cover things like furniture, jewelry, and clothes. Acceptance also offers some medical expense reimbursement in case of injury.
- Basic Motorcycle Liability Coverage: This type of insurance is required by law for individuals to have when driving their motorcycle. It will cover property damage costs and medical expenses for the other party in an accident that is deemed your fault.
- Motorcycle Comprehensive and Collision: This policy is designed to protect motorcycle owners from theft, vandalism or natural disaster. Acceptance also touts an offer of $2,000 worth of accessory coverage for after-market parts and safety apparel.
- Roadside Assistance: Acceptance Insurance offers 24/7 roadside assistance for things like towing, fluid refills, flat tires, battery jumps as well as help when you have locked yourself out of your car.
- Hospital Benefits: This coverage helps to fill gaps in your health insurance policy when you are involved in an accident and hospitalized.
- Ohio Bond Policy
- Med Pay: This policy helps cover medical costs for you as well as other covered passengers in an accident. It may go toward expenses like ambulance costs, x-rays, ER and hospital visit, doctors visits, surgery and funeral.
BuyAutoInsurance is not affiliated with Acceptance Insurance.
Acceptance Website – https://www.acceptanceinsurance.com
A.M. Best – http://www3.ambest.com/ambv/bestnews/presscontent.aspx?altsrc=14&refnum=16477