Acceptance Auto Insurance ReviewThursday, 31 October 2013 22:32
Acceptance Auto Insurance, also known as First Acceptance, is an insurance provider headquartered in Nashville, Tennessee that offers its products in 12 states and markets its auto insurance products to the moderate to high risk insurance pool. First Acceptance accepts applicants who have been denied by other auto insurance companies, and may be a good option for drivers who need insurance and are considered to be non-standard or high risk drivers. Those who apply for insurance with First Acceptance should expect relatively high premium quotes but will often be approved.
Company Background Information
Acceptance Auto Insurance began offering insurance in 1969 and currently offers insurance in 12 different states with plans to expand to other states. The company has almost 400 retail locations in these states and markets its insurance through other brands such as Yale Insurance and Insurance Plus along with Acceptance. First Acceptance has an A+ BBB rating but there are some documented complaints on the company headquarters’ BBB page.
The company received a recent A.M. Best B rating which suggests a fair financial outlook. The B rating was due to weak capitalization and recent reverse loss among other factors according to A.M. Best. First Acceptance has historically produced positive earnings and is a financially stable insurance company.
Pros of First Acceptance Car Insurance
- Offers insurance to high risk or moderate risk drivers with a high acceptance rate
- Low down payments and multiple payment options
Cons of First Acceptance Car Insurance
- Negative reviews dealing with claims processing problems and customer support issues
- No online filing for claims
Types of Insurance Offered
First Acceptance offers three basic types of auto insurance: basic liability coverage, comprehensive and collision coverage and uninsured motorist coverage. Basic liability coverage is the minimum auto insurance required by the state and is generally less expensive than comprehensive. The comprehensive and collision policy options are intended to cover the repair costs of a vehicle in the case of an at fault accident or damage resulting from theft. First Acceptance’s uninsured motorist coverage allows their drivers to file a claim even if the other party involved in the accident is uninsured.
Acceptance offers its insurance products to the moderate to high risk pool which may include the following groups of drivers:
- Drivers with multiple at fault accidents, speeding tickets, or moving violations in the past 3-5 years
- Drivers who have had their license suspended in the past
- Single males aged 16-24
- Males and females over the age of 70
- Drivers who have been convicted of DUI one or more times
- Drivers with no prior insurance or gaps in their coverage
- Drivers with less than perfect credit
The factors involved in determining who is considered “high risk” vary from one insurance company to another, but First Acceptance may accept a driver who has had trouble with getting accepted at other insurance companies.
There are some negative customer reviews of First Acceptance that stem from customers having trouble filing claims, having difficulty reaching their customer support department, and long waiting times for claims to be settled and funds to be dispersed. Other customers reported trouble getting medical bills reimbursed. These customer reviews should not be assumed to represent the majority of their customers.
Although there have been customer complaints regarding First Acceptance, the company still may be a good option for high risk drivers who have had trouble finding coverage. Those who are shopping for insurance and who have been denied by other insurers can consider First Acceptance to see if they can get an affordable quote, but the complaints about customer service should be taking into consideration. First Acceptance may be a good option to hold a high risk driver over until their driving record improves. You can get rates for a First Acceptance policy and from other auto insurers by entering your zip code in the form on this page.
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|Market Share||Not in Top 25|
|AM Best Score||B|
|JD Power Rating||N/A|
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