Motorists Mutual Insurance Company Review – Bankrate.com

Motorists Mutual Insurance Company has a long history in the insurance industry, beginning in 1928 as an auto insurance provider. It arose when mass adoption of cars was new, and the auto industry was growing at an incredible rate. This setting created the need for affordable and trustworthy car insurance, which incentivized the founding of Motorists Mutual.

In time, the company grew to become the Motorists Mutual Insurance Group, reaching a national scale. The carrier has continued to grow and expand over the years. In 2017, it affiliated with BrickStreet Mutual and became Encova Mutual Insurance Group. Combining both companies’ specialties, Encova provides a one-stop shop for insurance policies of all types. In keeping with this goal, the company offers a wide array of policies for auto, home and life.

Date established: 1928
Insurance products offered: Auto, life, home.
AM Best financial strength rating: A- (Excellent)
NAIC complaint index:12
Availability: 28 states and Washington, D.C.

Pros
Cons

High ratings from third parties
No mobile app

Established history in the insurance industry
No web portal for claims reporting

A broad selection of insurance products
No online insurance application

24/7 customer service

Local agents

Encova (formerly Motorists Mutual) car insurance

Encova offers a full suite of auto insurance products, including liability, personal injury, collision, towing and labor, medical payments, comprehensive and uninsured/underinsured motorists. In addition, Encova policies allow for a degree of policy customization. The company also has several auto insurance discounts available to qualifying drivers, including unique savings opportunities. Drivers who can take advantage of these discounts and want customization options may find Encova a good fit when comparing quotes among the best car insurance companies.

Types of coverage

Minimum coverage for cars usually includes just liability insurance at state-mandated minimum limits, although some states also require additional coverage types. Encova offers policies with standard options like comprehensive, collision, and uninsured and underinsured motorist coverage. Below are some additional optional coverage types offered by Encova for even greater financial protection.

Towing and labor: While towing coverage isn’t an uncommon add-on, the Encova policy includes coverage for the cost of labor to get your vehicle back in working order.
Medical payments: With medical payments, the medical costs for you and your passengers may be at least partially covered no matter who is at fault for the auto accident, up to your policy limit.

Discounts

Auto insurance companies also commonly offer discounts to help drivers with the cost of premiums. While Encova offers a long list of discounts that include some of the more common savings, a few are more unique. Among its rarer discounts are those for Electronic Funds Transfer (EFT) payments, married professionals and empty nesters. While these discounts are less common, they only make up three of the nine discounts that Encova lists. Eligibility for discounts varies between states and drivers. To discuss your eligibility, talk to a licensed Encova agent near you.

EFT: This discount is achieved by paying your premiums via electronic funds transfer.
Married professional: Married professionals might receive a discount on their premiums.
Empty nester: Parents of children who have grown and moved out can receive a discount on their premiums.

Beyond discounts, you may find it helpful to explore other ways to help save on car insurance.

Encova life insurance

Encova offers both personal and business life insurance policies. Personal life insurance policies offered include both term life and permanent life plans. For full details on available plans for personal or business life insurance, talk to an official Encova insurance agent in your area, as available plans, coverage limits and rates can vary between states and individuals. If shopping around for life insurance and comparing companies, insurance experts recommend reviewing the products and quotes from several carriers to find the best life insurance company for your needs.

Types of policies offered

Term life insurance: Policies only last for a set amount of time, like 10 or 30 years. Generally, term plans have lower rates than permanent life policies but have fewer components.
Permanent life insurance: These policies can include cash value and investment components. The main distinction of permanent life insurance policies is that they can last for the duration of the insured individual’s life.
Business life insurance: Designed for business owners, these policies are customized around the financial needs or obligations of a business.

Encova ratings, reviews, customer satisfaction and complaints

Encova is a relatively new entity, formed from Motorists Mutual and BrickStreet Mutual. As such, ratings for it can be a little confusing. Some third-party rating systems, like AM Best, list the ratings under Motorist Mutual. In contrast, others use the new name, Encova. Beyond that distinction, each rating system has unique elements.

AM Best is a credit rating agency that reviews numerous financial factors to assess a company’s overall financial strength. Part of the assessment focuses on how well the provider has historically been able to pay out on claims. A higher grade translates to stronger historical financial stability and could help you feel more confident in a company.

Standard and Poor’s (S&P) ratings cover several credit variables. One of the highlights of these ratings is that they incorporate estimates of how likely a company is to pay back on debt that it takes on. The higher the rating, the more favorably the company’s financial position is assessed.

J.D. Power is a data analytics company that provides independent ratings on numerous business industries, using a variety of metrics. For the insurance industry, J.D. Power gathers surveys and analyzes the data to assess consumers’ satisfaction with their insurance company, claims handling process or digital insurance experience.

The National Association of Insurance Commissioners (NAIC) is a regulatory body that oversees the insurance industry. Amongst other duties, it collects and compiles consumer complaints into a rating system for each insurance company. A rating of 1.0 equates to an average level of complaints. Going above that means that the company has a higher than average amount of complaints. Conversely, a rating of below 1.0 is for when a company has fewer than average complaints.

Ratings for Encova Mutual

Reasons Encova insurance is a good option

Encova’s parent companies have a significant history and decades of experience in the insurance industry. Its ratings are in the upper ranges for financial outlook and stability, based on its parent companies. Beyond these metrics, Encova offers a wide variety of insurance products across roughly half of the United States. Encova provides the opportunity to purchase all your insurance from one company and the possibility of staying with the insurer even if you move to another state.

However, Encova has a few potential downsides to consider. For example, Encova scores higher than average on the NAIC complaint index, and the company currently has no mobile app, online application option, or online claims filing process. For those who prefer interacting directly with agents, these factors may not be significant. Still, for others dependent on the convenience of modern technology, this may present a barrier.

Additional policies offered by Encova

Identity theft
Property
Umbrella
Recreational vehicles
Cyber liability
Employment practices
Workers’ compensation

Frequently asked questions

What type of insurance is Encova Insurance?

Encova offers a variety of insurance products, including car insurance, life insurance, property insurance, and commercial insurance. Product availability might vary by location though, so talking with an Encova agent near you is one of the best ways to find out what products are available in your area.

Does Encova insurance have an app?

Encova does not currently have a mobile app available, and it has removed the Motorists Mutual app from android and iOS.

How many employees does Encova insurance have?

According to the company, it has over 12,000 associates across the states.