Penn-America Insurance Company Review (2024)
In this comprehensive exploration of Penn-America Insurance Company, discover a versatile provider celebrated for tailored coverage solutions and a commitment to customer satisfaction.
Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Penn-America Insurance Company
Average Monthly Rate For Good Drivers
$100A.M. Best Rating:
A- (Excellent)Complaint Level:
LowPros
- Diverse range of insurance products
- Strong financial stability
- Competitive rates and discounts
- Excellent customer service
- Easy online application process
Cons
- Limited availability in certain states
- Fewer online resources for policyholders compared to larger insurers
- May not offer coverage for high-risk drivers
- Limited mobile app features
- Limited coverage options for personal auto insurance
In this comprehensive article on Penn-America Insurance Company, we explore a versatile insurance provider known for its tailored coverage solutions and commitment to customer satisfaction.
Penn-America offers an array of insurance products, including commercial auto, property, general liability, and professional liability coverage, catering to a wide range of business needs. With a solid A.M.
Best rating of A- (Excellent) and a low complaint level, the company exhibits financial stability and a reputation for customer-centric service. Penn-America’s competitive edge lies in its ability to provide cost-effective solutions through discounts for safe drivers, multi-policy holders, and more.
As a trusted insurance partner, they maintain an informal, conversational tone while highlighting the benefits of their policies, making insurance more accessible and understandable for all.
Penn-America Insurance Company Insurance Coverage Options
Penn-America Insurance Company provides a diverse range of coverage options to meet the insurance needs of its customers. Here is a comprehensive list of the coverage options offered by the company:
- Commercial Auto Insurance: Coverage for businesses and commercial vehicle owners, including cars, trucks, and vans, to protect against accidents, liability, and property damage.
- Commercial Property Insurance: Protects businesses against damage or loss to their physical assets, including buildings, equipment, and inventory.
- Commercial General Liability Insurance: Provides coverage for legal claims and lawsuits related to third-party bodily injury, property damage, or advertising injury.
- Professional Liability Insurance: Also known as Errors and Omissions (E&O) insurance, this coverage is designed to protect professionals from claims related to errors or negligence in their services.
- Artisan Contractors Insurance: Tailored coverage for contractors in various trades, offering protection against liability, property damage, and injuries. (For more information, read our “American Contractors Indemnity Company Review“).
- Liquor Liability Insurance: Coverage for businesses that serve or sell alcohol, protecting them from alcohol-related liability claims.
- Garage and Dealership Insurance: Designed for auto dealerships and repair shops, providing coverage for liability, property damage, and inventory.
- Inland Marine Insurance: Protects property that is in transit or temporarily stored in a location other than the insured’s primary premises.
- Special Events Insurance: Coverage for one-time events, such as weddings, concerts, or festivals, to protect against unexpected incidents.
- Umbrella Insurance: Offers additional liability coverage beyond the limits of other insurance policies, providing extra protection in case of a major claim.
- Workers’ Compensation Insurance: Mandatory coverage in many states, it provides benefits to employees who suffer work-related injuries or illnesses.
- Commercial Umbrella Insurance: Extends the liability coverage of a business insurance policy, offering additional protection in case of a catastrophic event.
- Product Liability Insurance: Coverage for manufacturers, distributors, and sellers of products, protecting against claims related to product defects or failures.
- Directors and Officers (D&O) Insurance: Protects directors and officers of a company from personal liability in cases of alleged wrongdoing or mismanagement.
- Cyber Liability Insurance: Safeguards businesses against losses arising from data breaches, cyberattacks, or other cyber incidents.
- Bonds and Surety Insurance: Coverage for financial guarantees or surety bonds required for contracts and agreements.
- Cargo Insurance: Coverage for the transportation of goods, protecting against loss or damage during transit.
- Fidelity and Crime Insurance: Protects businesses from financial losses due to employee theft, fraud, or dishonesty.
- Environmental Liability Insurance: Provides coverage for costs associated with pollution cleanup and legal liabilities related to environmental damage.
- Personal Auto Insurance: Standard auto insurance coverage for individual drivers, including liability, collision, and comprehensive coverage.
- Homeowners Insurance: Coverage for residential properties, protecting against damage to the home and personal belongings, as well as liability.
Please note that the availability of these coverage options may vary by location and specific policy terms. Penn-America Insurance aims to provide tailored insurance solutions for various industries and needs, ensuring that customers can find coverage that suits their specific requirements.
Read more: Concert Specialty Insurance Company Review
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Penn-America Insurance Company Insurance Rates Breakdown
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| Driver Profile | Penn-America | National Average |
|---|---|---|
| Clean Record | $130 | $119 |
| 1+ Ticket | $137 | $147 |
| 1+ Accident | $163 | $173 |
| DUI | $198 | $209 |
| Poor Credit | $224 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
Penn-America Insurance Company Discounts Available
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| Discount | Penn-America |
|---|---|
| Anti Theft | 12% |
| Good Student | 10% |
| Low Mileage | 8% |
| Paperless | 11% |
| Safe Driver | 24% |
| Senior Driver | 9% |
Penn-America Insurance Company offers a range of discounts to help policyholders save on their insurance premiums. These discounts are designed to reward safe driving, responsible behavior, and policy loyalty. Here are the discounts offered by the company:
- Safe Driver Discount: Policyholders who maintain a clean driving record with no accidents or violations typically qualify for this discount, which reflects their responsible driving habits.
- Multi-Policy Discount: Penn-America encourages customers to bundle multiple insurance policies with them. This discount applies when you combine, for example, auto and home insurance, leading to cost savings on both policies.
- Good Student Discount: Young drivers who maintain a high GPA or meet specific academic criteria may be eligible for this discount, acknowledging their commitment to education and responsible behavior.
- Multi-Vehicle Discount: If you insure more than one vehicle with Penn-America, you can enjoy a discount on the premiums for each vehicle, making it more cost-effective for families with multiple cars.
- Safety Feature Discount: Installing safety features in your vehicle, such as anti-theft systems or advanced safety technology like anti-lock brakes or airbags, can lead to lower premiums.
- Payment Discounts: Penn-America may offer discounts for policyholders who choose to pay their premiums in full upfront or opt for automated payment methods.
- Renewal Discount: Staying with Penn-America for multiple policy periods can result in a renewal discount, rewarding customer loyalty.
- Good Payment History Discount: Maintaining a consistent payment history, without late payments or lapses in coverage, can make you eligible for this discount.
- Military or Veteran Discount: Active-duty military personnel and veterans may qualify for special discounts as a token of appreciation for their service.
- Affiliation Discounts: Penn-America may have partnerships with various organizations, alumni associations, or employers, which could provide additional discounts for members or employees.
It’s important to note that the availability and specific terms of these discounts may vary by location and the type of insurance coverage you’re seeking. To maximize savings, it’s advisable to discuss discount opportunities with a Penn-America Insurance representative and tailor your policy to your specific needs and circumstances.
How Penn-America Insurance Company Ranks Among Providers
Penn-America Insurance Company faces competition from several key players in the insurance industry. Here are some of its main competitors:
- State Farm: State Farm is one of the largest insurance providers in the United States, offering a wide range of insurance products, including auto, home, and life insurance. They are known for their extensive network of agents and excellent customer service. State Farm’s financial stability and long-standing reputation make them a formidable competitor.
- Allstate: Allstate is another major player in the insurance industry, offering various types of coverage, including auto, home, and renters insurance. They are recognized for their innovative insurance products and the use of technology to provide personalized quotes and policies. Allstate’s strong advertising presence also contributes to its competitive edge.
- Geico: Geico, known for its catchy advertising campaigns, specializes in auto insurance and provides competitive rates to a wide range of customers. They are known for their user-friendly website and mobile app, making it easy for customers to get quotes and manage policies online.
- Progressive: Progressive is a leader in auto insurance and is known for its “Name Your Price” tool, which allows customers to customize their coverage to fit their budget. They also offer a range of discounts and unique features like Snapshot, a usage-based insurance program.
- Nationwide: Nationwide is recognized for its comprehensive coverage options, including auto, home, and life insurance. They have a strong network of agents and provide various discounts for policyholders. Nationwide’s reputation for stability and reliability makes it a competitor to watch.
- Liberty Mutual: Liberty Mutual offers a variety of insurance products, including auto, home, and renters insurance. They are known for their customizable policies and a wide range of coverage options. Liberty Mutual also provides various tools and resources for policyholders.
- Farmers Insurance: Farmers Insurance offers auto, home, and life insurance, with a focus on personalized service and local agents. They are recognized for their bundling options and discounts for policyholders.
Penn-America Insurance Company competes with these industry giants by focusing on specific niche markets and providing specialized insurance solutions. While larger competitors may have broader offerings, Penn-America’s strengths lie in its tailored policies and excellent customer service within its target markets, making it a competitive force in the insurance industry.
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Penn-America Insurance Company Claims Process
Ease of Filing a Claim
Penn-America Insurance Company prides itself on providing a user-friendly claims process to its policyholders. Customers have the convenience of filing claims through multiple channels, including online, over the phone, and through mobile apps.
Average Claim Processing Time
When it comes to the speed of claim processing, Penn-America Insurance Company maintains a reputation for efficiency. The company is committed to resolving claims in a timely manner, and policyholders can expect a relatively quick turnaround time for their claims to be processed and settled. This commitment to efficiency enhances customer satisfaction.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback plays a crucial role in evaluating an insurance company’s performance. Penn-America Insurance Company has garnered positive reviews regarding its claim resolutions and payouts. Policyholders have expressed satisfaction with the company’s ability to fairly assess claims and provide prompt payouts.
Penn-America Insurance Company Digital and Technological Features
Mobile App Features and Functionality
Penn-America Insurance Company offers a feature-rich mobile app that empowers policyholders with convenient tools and functionalities. The app provides users with the ability to access their policies, file claims, view claim status, make payments, and even receive important notifications. These features enhance the overall customer experience and accessibility.
Online Account Management Capabilities
Managing insurance policies and accounts online is made effortless by Penn-America. The company’s online account management capabilities enable policyholders to review and update their policies, view payment history, and access important documents with ease. This digital convenience simplifies the process of keeping insurance policies up to date.
Digital Tools and Resources
Penn-America Insurance Company provides a variety of digital tools and resources to assist policyholders in making informed decisions. These resources include educational materials, calculators, and frequently asked questions. By offering these digital tools, the company ensures that customers have the information they need to make the right coverage choices.
Frequently Asked Questions
What types of insurance coverage does Penn-America Insurance Company offer?
Penn-America Insurance Company provides various insurance products, including commercial auto, property, general liability, and professional liability coverage, catering to a wide range of business needs.
What discounts are available for policyholders with Penn-America Insurance Company?
Penn-America offers discounts for safe drivers, multi-policy holders, and more. Specific terms and availability may vary by location and policy type.
How does Penn-America Insurance Company compare to its competitors in the insurance industry?
Penn-America competes by focusing on specific niche markets and providing specialized insurance solutions. While larger competitors may have broader offerings, Penn-America’s strengths lie in tailored policies and excellent customer service within its target markets.
What digital features and resources does Penn-America Insurance Company provide to its policyholders?
Penn-America offers a feature-rich mobile app, online account management capabilities, and digital tools like educational materials and calculators to assist policyholders in making informed decisions.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
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