Cincinnati Insurance Company Review
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UPDATED: Mar 18, 2021
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Although Cincinnati Auto insurance reviews are somewhat more difficult to find online as compared to some of the better-known insurance providers, the company still has a strong reputation in the insurance industry.
Cincinnati Insurance Company was formed in 1950 by four independent insurance agents and is parented by the Cincinnati Financial Corporation.
The company believes in the importance of local offices and good personal service, which it encourages their field representatives to provide to all policyholders.
Learn below how Cincinnati Auto insurance ratings compare to some of the top insurance providers in the industry.
Cincinnati Auto insurance offers policyholders several options to choose from to get the best coverage for their individual needs.
Cincinnati Insurance Auto Policies
Here are just a few examples of their coverage types:
- Liability Coverage: This pays for bodily injury and property damages due to an at-fault accident. Liability insurance is a requirement for drivers in most states.
- Gap Coverage: If a total loss of the vehicle occurs, gap coverage takes care of the remaining balance owed on an auto loan or lease.
- Personal Umbrella Liability Coverage: Drivers with this policy are insured against large lawsuits that may arise as the result of a car accident, and it also covers extras when liability coverage isn’t enough.
- Auto Plus: This covers a wide range of extras, including towing and labor, lock replacement, and child safety seat replacement.
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Cincinnati Insurance Company Overview
After a customer creates his or her insurance policy, contact between the policyholder and the company is most likely limited to quick calls or office visits to change minor policy details such as an address or phone number.
Aside from this, the majority of interaction happens during the claims process, which is why agencies that rate insurance providers place so much importance on claims satisfaction during their rating process.
When J.D. Power and other market research firms gather information to create a Cincinnati Auto insurance review, they each use their unique process to determine how the company rates compared to its top competitors.
Most of their analysis relies on three key performance indicator categories (KPIs) used to study how insurance companies perform during the claims process: communication, ease of service interaction, and timeliness.
The J.D. Power 2017 US Auto Claims Satisfaction Study provides accurate ratings of major insurance providers throughout America using the KPIs mentioned above in combination with ratings and reviews from real consumers.
While there are no Cincinnati Auto insurance ratings included in this study, there are other available sources online that contain customer reviews.
Those seeking insurance policies from this company should be pleased to see that the Cincinnati Financial Corporation is accredited by the Better Business Bureau and has received an A+ in responding to complaints.
While searching the online reviews at the BBB, you can see that most of the complaints center on the company’s speed at paying out claims and a perceived lack of service from the company’s representatives.
Overall Customer Satisfaction Review
In addition to the claims process, other factors should be considered when combing through Cincinnati Auto insurance reviews. These factors include how well the company communicates with consumers while responding to inquiries and complaints, as well as how many complaints the company receives.
The J.D. Power shopping study determines customer satisfaction on a large scale and rates insurance companies in several areas: policy offerings, pricing, local agent, call center representative, and insurer website.
Since Cincinnati Auto hasn’t been included in this particular study, additional research is necessary to discover consumers’ opinions on this company.
A quick scan of web-based review websites may be able to provide more details, and the company does offer an extensive list of testimonials on their website.
The NAIC Complaint Ratio Report compares a company’s number of justified complaints with its total annual premiums to create a complaint ratio.
These reports are available to consumers each year to assist them in making an informed decision about their auto insurance. Cincinnati Auto (NAIC #10677) shows a complaint ratio of 0.26 which is way below the national median of 1.00.
Total complaints from customers with private passenger policies in 2017 was 15.
The State of New York’s Financial Department, Division of Insurance maintains a similar complaint database calculating complaints per premium dollars. According to the 2017 Auto Complaint Ratio Report, Cincinnati Auto has a complaint ratio of 0.0 and no justified complaints during that year.
All auto insurance policy prices are determined by many elements, including the driver’s geographic location, age, gender, and driving history, as well as the vehicle being driven.
While this review can’t give you a specific price for Cincinnati Auto’s insurance policies—the company quotes and sells its policies only through independent agents—it can provide an example of how variables affect premiums.
Take the following scenario:
Single Female (Age 25) – One car (Toyota Camry), one violation and one no-fault accident in the preceding three years, work driving use of 12,000 miles per year, living in Miami-Dade County, Florida
This female would pay an average of $1,969 for personal injury plus property damage insurance. Using the same scenario in Putnam County, Florida, a less populated region decreases her annual premium to $910. Furthermore, in Putnam County, these averages consist of a variety of quotes that range from a low of $367 to a high of $1,893.
This high degree of variance is why you should always collect several quotes before choosing an insurance provider.
If a large disaster ever occurs, your insurance provider will probably have to process a multitude of claims at the same time, so it’s important to know that the insurance company you’ve chosen will be financially able to honor your claims.
The Insurance Information Institute helps consumers to understand financial ratings issued from the five independent agencies, Standard and Poor’s, Moody’s Investor Services, Fitch, Kroll Bond Rating Agency, and A.M. Best.
Ratings indicate that the Cincinnati Insurance Company’s financial strength is excellent. A.M. Best gave them a Financial Strength Rating of “A” and an Issuer Credit Rating of “A+,” while Moody’s Investors Services has given a senior debt rating of “A3” and an Insurance Financial Strength Rating of “A1.”
Is Cincinnati Auto Insurance for You?
After reading this Cincinnati Auto insurance review and learning more about how auto insurance companies are rated and ranked against each other, you should have a good idea of where Cincinnati stands among its peers and be able to make an informed decision about your insurance purchase.