Sompo America Insurance Company Review (2024)
Sompo American Insurance Company, a longstanding pillar in the industry celebrated for its expansive coverage choices, competitive pricing, and unwavering dedication to customer contentment, where a rich history of reliability meets innovative solutions, establishing them as a top-tier choice amid the vast insurance landscape.
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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Sompo American Insurance Company
Average Monthly Rate For Good Drivers
$100A.M. Best Rating:
A+Complaint Level:
LowPros
- Wide range of insurance products
- Strong history and reputation
- Positive customer reviews
- Innovative approach to insurance
- Bundle discounts available
Cons
- Limited geographic coverage
- Premiums may be slightly higher than competitors
- Some policy options might be complex for beginners
In this comprehensive article, we’ve explored Sompo American Insurance Company, a trusted insurance provider known for its diverse range of coverage options, including auto, home, life, and business insurance. With a history of excellence and a low complaint level, Sompo American boasts a solid A.M. Best rating and offers competitive average annual rates.
Their pros include innovative insurance solutions, favorable customer reviews, and bundle discounts, while potential cons may include limited geographic coverage and slightly higher premiums in comparison to competitors.
By prioritizing customer satisfaction, innovation, and a commitment to securing the future, Sompo American Insurance Company continues to stand out as a dependable choice in the insurance industry.
Sompo American Insurance Company Insurance Coverage Options
Sompo American Insurance Company provides a comprehensive range of coverage options to meet the diverse needs of their customers. Here’s a bullet list highlighting some of the coverage options they offer:
Auto Insurance
- Liability Coverage
- Comprehensive Coverage
- Collision Coverage
- Uninsured/Underinsured Motorist Coverage
- Personal Injury Protection (PIP)
- Rental Reimbursement Coverage
- Roadside Assistance
Home Insurance
- Dwelling Coverage
- Personal Property Coverage
- Liability Coverage
- Additional Living Expenses Coverage
- Guest Medical Protection
- Flood Insurance (as an optional add-on)
- Earthquake Insurance (as an optional add-on)
Life Insurance
- Term Life Insurance
- Whole Life Insurance
- Universal Life Insurance
- Variable Life Insurance
- Final Expense Insurance
- Mortgage Protection Insurance
- Indexed Universal Life Insurance
Business Insurance
- General Liability Insurance
- Commercial Property Insurance
- Business Owners Policy (BOP)
- Workers’ Compensation Insurance
- Commercial Auto Insurance
- Professional Liability Insurance
- Cyber Liability Insurance
These coverage options cater to the diverse insurance needs of individuals, families, and businesses, allowing customers to tailor their policies to provide the protection they require.
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Sompo American Insurance Company Insurance Rates Breakdown
| Driver Profile | Sompo America | National Average |
|---|---|---|
| Clean Record | $110 | $119 |
| 1+ Ticket | $170 | $147 |
| 1+ Accident | $200 | $173 |
| DUI | $250 | $209 |
| Poor Credit | $189 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
Sompo American Insurance Company Discounts Available
| Discount | Sompo America |
|---|---|
| Anti Theft | 8% |
| Good Student | 12% |
| Low Mileage | 7% |
| Paperless | 10% |
| Safe Driver | 15% |
| Senior Driver | 9% |
Sompo American Insurance Company understands the importance of making insurance coverage more affordable for their customers. They offer various discounts to help policyholders save on their premiums. Here’s a bullet list of some of the discounts offered by the company:
- Multi-Policy Discount: Save by bundling multiple insurance policies, such as home and auto, with Sompo American.
- Safe Driver Discount: Enjoy lower premiums if you have a clean driving record and a history of safe driving.
- Good Student Discount: Students with good grades may qualify for discounted rates on auto insurance.
- Anti-Theft Device Discount: If your vehicle is equipped with anti-theft devices, you can get a discount on your auto insurance.
- Home Safety Features Discount: Install safety features in your home, such as a security system or smoke detectors, to receive discounts on home insurance.
- Claims-Free Discount: If you haven’t filed a claim in a specified period, you may be eligible for a discount on your insurance premiums.
- Multi-Car Discount: Insure multiple vehicles under the same policy to receive a multi-car discount.
- Advance Purchase Discount: Purchase your policy in advance, and you may qualify for a discount on your premium.
- Renewal Discount: Loyalty pays off; Sompo American may offer discounts to long-term policyholders upon policy renewal.
- Affinity Group Discount: Some affiliations or memberships may qualify you for additional discounts.
It’s important to note that the availability of these discounts may vary depending on your location and specific policy. Customers are encouraged to inquire with Sompo American Insurance Company about the discounts they may be eligible for to maximize their savings on insurance coverage.
How Sompo American Insurance Company Ranks Among Providers
Sompo American Insurance Company faces competition from several prominent insurers in the insurance industry. The main competitors of Sompo American Insurance Company include:
- State Farm: State Farm is one of the largest insurance companies in the United States, offering a wide range of insurance products, including auto, home, and life insurance. They are known for their extensive agent network and strong customer service.
- Allstate: Allstate is another major player in the insurance industry, providing comprehensive coverage options for auto, home, and life insurance. They emphasize features like accident forgiveness and safe driving rewards.
- Geico: Geico is renowned for its competitive auto insurance rates and clever marketing campaigns. They offer a straightforward approach to insurance with a focus on affordability.
- Progressive: Progressive is known for its innovative approach to auto insurance, offering features like Snapshot, which tracks driving habits to potentially lower premiums. They also provide a range of other insurance products.
- Liberty Mutual: Liberty Mutual is a well-established insurance company with a strong presence in the auto and home insurance sectors. They offer customizable coverage options and various discounts.
- Nationwide: Nationwide offers a variety of insurance products, including auto, home, and pet insurance. They are recognized for their “On Your Side” customer service philosophy.
- Farmers Insurance: Farmers Insurance provides coverage for auto, home, and small business insurance. They are known for their local agents and personalized service.
- Usaa: USAA primarily serves military personnel and their families, offering a range of insurance and financial services. They are highly regarded for their customer satisfaction and loyalty.
- Travelers: Travelers is a leading insurance company that offers a wide range of commercial and personal insurance products, including auto, home, and business insurance.
- Chubb: Chubb specializes in providing high-value insurance solutions for individuals and businesses. They are known for their tailored coverage and exceptional customer service.
These competitors, like Sompo American Insurance Company, offer various coverage options, discounts, and unique features to attract and retain customers.
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Sompo America Insurance Claims Process
Streamlined Claim Filing
When it comes to initiating a claim with Sompo America Insurance Company, customers enjoy accessible options designed for convenience. The company offers an online claims filing system, enabling policyholders to effortlessly submit claims through a user-friendly web portal.
Additionally, customers can choose to file a claim over the phone, offering a more traditional approach for those who prefer direct communication with a representative. Sompo America also provides mobile apps, further enhancing the simplicity of filing claims, as policyholders can begin the process right from their smartphones.
Efficient Claim Processing Time
Sompo America Insurance Company is committed to providing efficient claim processing services. While the exact claim processing time may vary depending on the complexity of the claim and other factors, the company aims to expedite the process to ensure that customers receive timely assistance during challenging situations.
Policyholders can expect a reasonable and competitive claim processing timeframe, allowing them to recover from unexpected events promptly.
Customer Satisfaction With Claim Resolutions
Customer feedback is an essential aspect of evaluating an insurance company’s performance, especially when it comes to claim resolutions. Sompo America has garnered positive reviews from customers regarding their claim handling.
Policyholders have expressed satisfaction with the company’s responsiveness, fairness in assessing claims, and timely payouts. These favorable customer testimonials reflect the company’s commitment to delivering on its promises and providing peace of mind to its insured individuals.
Sompo America Insurance Digital and Technological Features
Feature-Rich Mobile App
Sompo America Insurance Company offers a comprehensive mobile app that provides policyholders with an extensive range of features and functionalities. The app allows users to access their insurance policies, view and manage their coverage, and initiate claims right from their mobile devices.
Additionally, it offers features such as policy document storage, bill payment options, and instant access to customer support. The user-friendly interface and comprehensive features make the mobile app a valuable tool for policyholders.
Online Account Management Convenience
Managing insurance policies and accounts online has become increasingly important in today’s digital age. Sompo America recognizes this need and provides policyholders with robust online account management capabilities.
Customers can log in to their online accounts to review policy details, make changes to their coverage, update personal information, and track claims status. This online accessibility offers convenience and flexibility for policyholders to have greater control over their insurance accounts.
Digital Tools and Resources for Informed Choices
In addition to its mobile app and online account management capabilities, Sompo America Insurance Company offers various digital tools and resources to assist customers in making informed decisions. These resources may include educational articles, calculators for estimating coverage needs, and online support for inquiries.
The company’s commitment to utilizing digital technology enhances the overall customer experience and ensures that policyholders have access to valuable information and tools to support their insurance choices.
Frequently Asked Questions
Is Sompo American Insurance Company a well-established insurer?
Yes, Sompo American Insurance Company has a strong history dating back several years and has earned a solid reputation in the insurance industry for reliability and quality service.
How can I obtain a quote for insurance coverage from Sompo American?
You can easily obtain a personalized insurance quote from Sompo American by visiting their website and using their online quote tool or by reaching out to their customer service team for assistance.
Are there discounts available for policyholders with Sompo American?
Sompo American offers a range of discounts, including multi-policy, safe driver, good student, and more, to help customers save on their insurance premiums.
What types of insurance does Sompo American offer for businesses?
Sompo American provides comprehensive business insurance solutions, including general liability, commercial property, workers’ compensation, and professional liability insurance, tailored to the unique needs of businesses.
Can I bundle different types of insurance policies with Sompo American?
Yes, you can bundle various insurance policies, such as auto and home insurance, with Sompo American to benefit from multi-policy discounts, making it a convenient and cost-effective option for your insurance needs.
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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.
