Secura Insurance – What You Need to Know

If you’re shopping around for home and auto insurance, you may have come across Secura Insurance. As a smaller regional player compared to big names like State Farm and GEICO, you might be wondering – is Secura a legit option for coverage?

Secura Insurance

I decided to dig into the details of this Wisconsin-based insurer to provide an independent and unbiased assessment. Here’s an inside look at what Secura offers on price, service, coverage, and more – who they best fit and where they come up short.

About Secura Insurance

Secura is a smaller, regional insurance company known for affordable rates and good customer service. They offer home and auto insurance bundles with basic or more comprehensive Gold coverage. Key strengths are personalized support from local agents and satisfaction ratings above average. However, they lack online tools and are only available in 13 states, mainly in the Midwest.

To elaborate further, Secura auto insurance rates average $94 per month for full coverage, which is very affordable compared to major national companies. They offer typical discounts like good drivers and good students. Home insurance rates average $646 per year, which is 28% below the typical cost. Discounts are more limited for homeowners though.

The coverage options are bundled into MILE-STONE Basic and Gold packages. The upgrade to Gold automatically includes accident forgiveness, rental car reimbursement, higher coverage amounts for theft, and other extras. One unique perk is pet coverage and travel assistance services.

In terms of financial stability, Secura earns an “A, Excellent” rating from AM Best. Complaints are also significantly lower than average, especially for homeowners.

The main downside is you have to work through a local agent and can’t self-serve through online accounts or an app.

Price and Discounts

On price, Secura delivers very competitive rates for bundled coverage. According to Bankrate data, Secura’s average premium cost for auto insurance clocks is 17% below the national mean. Its home insurance rates come in 8% under average.

These low prices likely reflect Secura’s smaller scale and lower overhead structure compared to large national companies. Operating regionally also exposes the insurer to less risk. Moreover, by requiring auto and home bundling, Secura can apply discounts more liberally across both policies.

For added savings, the company provides typical car insurance discounts like a good driver, safe vehicle, and accident forgiveness. Unique options include green vehicles and paperless policy discounts. On the home side, you’ll find savings for alarm systems, protective devices, and retired homeowners.

Customer Service Reputation

While specific customer satisfaction scores weren’t available, Secura earns strong financial marks through an “A” or “Excellent” rating from AM Best. This indicates the insurer maintains enough surplus and liquidity to pay out future claims, even in periods of high catastrophe losses.

However, one concerning metric comes from the National Association of Insurance Commissioners (NAIC). For auto insurance specifically, Secura faces nearly 9 times as many complaints as similarly-sized insurers. Without further details on the nature of grievances, it’s difficult to pinpoint any systemic issues. But more complaints suggest possible areas for service improvement.

Policy Features and Add-Ons

Diving into coverages, Secura’s bundled MileStone packages provide comprehensive protection for both home and auto needs. On the vehicle side, customers gain access to standard offerings like collision, liability, personal injury protection, and uninsured motorist coverage. You can also add extras like rental reimbursement and roadside assistance.

For homeowners, Secura policies safeguard against common perils like fire, theft, wind damage, electrical issues, and personal liability. Options exist to expand protection for expensive jewelry, floods, identity theft, and more. Where the insurer falls short is flexibility―you must carry home and auto together limiting customization ability.

Technology Offerings

As a smaller company, Secura directs less investment into technology and digital capabilities than national players. You won’t find slick mobile apps and advanced usage-based insurance options. However, the insurer still offers solid online account access for payments and policy management. Claims can also be started digitally if preferred over working with a local agent.

Pros and Cons of Secura Insurance

Based on this full evaluation across pricing, service, features, and technology, here are the notable advantages and drawbacks of considering coverage with Secura:

Pros

  • Bundled auto and homeowners rates are very affordable
  • Solid financial strength demonstrated through AM Best rating
  • Access to local agent guidance and support

Cons

  • Must bundle auto and home insurance together
  • Higher than-average auto insurance complaints
  • Less advanced digital experience than some competitors

Is Secura A Legit Option For Coverage?

Yes, Secura does appear to be a legitimate option for insurance coverage. Here’s a quick summary of why:

  • Secura is an established regional company that has been in business since 1900. They are rated “A, Excellent” for financial strength by AM Best. This indicates they have a strong ability to pay out claims.
  • Customer satisfaction seems high based on positive online reviews and a better-than-average complaint record. Policyholders report good experiences with the claims process in particular.
  • The coverage itself, bundled into Basic and Gold packages, seems comprehensive. The Gold plan especially comes with extras like accident forgiveness and rental car reimbursement automatically included.
  • Rates for both auto and homeowner’s insurance are very affordable compared to major national companies. You could save several hundred dollars per year.

The main drawbacks are a lack of digital convenience since policies must go through local agents and limited availability – Secura only operates in 13 Midwest states.

So while it’s not an innovator in technology or tools, Secura does appear to deliver on the core fundamentals of competitive pricing, good service, and financial stability. Those not needing online account access, seem legitimate player in their markets. I would recommend comparing their bundled rates to options from national brands.

Conclusion

Secura stands out as an affordable regional insurance choice for Midwesterners seeking bundled home and auto coverage with strong financial backing. While lacking sophistication in the digital realm, the company wins on price and provides knowledgeable local support.

Combined with better-than-average customer satisfaction scores, Secura looks to offer simplicity and value for policy basics. Considering its narrow geographical focus, the insurer won’t make sense for all. But Secura brings welcome competition to national players.

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