Part of AMTrust, Technology Insurance Company has a variety of insurance offerings including commercial auto insurance. However, the company does not offer personal auto insurance.
Below, we’ll get into what Technology Insurance Company does cover. Then, we’ll help you find great personal insurance coverage with tips and recommendations for the best car insurance companies in the United States.
When you’re ready to look at pricing, enter your zip code to get free, personalized auto insurance quotes. In addition to the company you choose, factors like your age, vehicle make and model, and credit history can affect the quotes you receive, so we recommend getting at least three quotes to compare coverage and rates.
In this article:
What Is Technology Insurance Company?
Technology Insurance Company (TIC) is a subsidiary of AMTrust North America. AMTrust specializes in insurance products, offering things like mono-line worker’s compensation for mid-size and small businesses through Technology Insurance Company and other subsidiaries.
Technology Insurance Company, Inc. in Canada writes commercial auto insurance but does not do personal auto insurance. In fact, you can’t get personal car insurance from AMTrust or any of its subsidiaries in North America.
AMTrust has many other insurance products including business owner’s insurance, employment practices liability, cyber liability, state disability, and specialty programs.
How To Find The Right Car Insurance Company For You
There’s a lot to consider when it comes to auto insurance providers, including coverage, cost of policies, industry reputation, and customer service. Even though Technology Insurance Company doesn’t offer car insurance, there are a lot of great companies out there if you know what to look for.
Each state has different minimum car insurance limits that motorists are required to have to operate cars legally in the state. If you’re a relatively low-risk driver, the state minimum car insurance might be all the coverage you need. If you find yourself frequently filing claims, you’ll want a plan with stronger coverage to avoid out-of-pocket expenses.
Most reputable car insurance companies offer the following types of auto insurance standard. As long as you fulfill your state’s minimum requirements, the coverage you purchase is up to you.
- Bodily injury liability (BI) pays for injuries that you cause to other parties in the event of an at-fault collision. Most states require motorists to carry this to operate a vehicle lawfully.
- Property damage liability (PD) pays for damages to the vehicles of other parties in accidents that you cause. It’s required in most states.
- Collision insurance pays for damages to your own car, regardless of what party caused the accident.
- Comprehensive car insurance pays for damages to your car from events other than accidents – like hail, fires, vandalism, theft, or run-ins with animals.
- Personal injury protection (PIP) pays for your injuries after an accident regardless of whether or not you caused the accident. It’s usually required in no-fault states.
- Medical payments (MedPay) pays medical bills for you and your passengers.
- Uninsured/underinsured motorist insurance (UM/UIM) protects you when you are hit by a driver who has no insurance or insufficient insurance to fully pay for injuries and damages.
You can get additional coverage like roadside assistance, rental car reimbursement, and gap insurance with many car insurance providers. Check out the offerings of any providers you are considering to make sure they have the coverage you’re looking for.
When doing your homework on an auto insurance company, make sure to look into the company’s ratings from industry experts like AM Best, J.D. Power, and the Better Business Bureau (BBB). These groups specialize in rating companies based on financial strength, sound business practices, customer satisfaction, and more.
Also, don’t forget to look at customer reviews, but take negative reviews with a grain of salt. Instead of letting one bad review ruin your perception of a car insurance company, look for themes across multiple reviews to get a more holistic sense of what the car insurance company offers.
Comparing car insurance quotes from multiple car insurance companies is the only way to know that you’re paying the best rates for your car insurance.
Remember, what’s best for your neighbor may not be best for you. That’s because your car insurance rates are not only determined by the company underwriting your policy. Factors like your age, vehicle make and model, location, and driving history can affect the quotes you receive, so you and your neighbor may get different rates from the same company.
How To Save Money On Car Insurance
As you shop car insurance, keep in mind the following tips for reducing your premiums.
- Check for discounts: Technology Insurance Company doesn’t offer car insurance, but many other insurance providers have both great coverage and great discounts. You can get discounts for things like being a good student, being a safe driver, and having multiple vehicles on your auto insurance policy.
- Improve your credit score: Data from the Federal Trade Commission suggests that motorists with better credit file fewer claims than drivers with poor credit. For this reason, insurance companies in most states can take your credit score into account when determining how risky you are as a driver. Improve your credit score over time to see lower rates.
- Choose a higher deductible: Yes, you will be paying more out-of-pocket in the event of an accident, but if you’re a relatively claims-free driver already, choosing to pay a higher deductible could be a good way to save money on car insurance.
- Reduce your annual mileage: If you change jobs or move and reduce how many miles you drive annually, be sure to report that change to your insurance company. Fewer miles could qualify you for a low annual mileage discount.
- Be smart when buying a car: When you’re looking to buy a car, do some research about the car’s safety features. Cars with airbags, anti-lock brakes, and anti-theft devices are often cheaper to insure than other cars.
- Take a driving course: Most car insurance providers give discounted rates after you finish a safe driving or defensive driving course.
Recommended Auto Insurance Providers
Since Technology Insurance Company doesn’t offer personal auto insurance, here are a few top providers that do. When we researched the most popular car insurance companies in the nation, Geico and USAA were the two that performed best.
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Geico auto insurance has a strong reputation in the industry, with top marks from experts and satisfied customers. Geico received an A++ (Superior) financial strength rating from AM Best and an A+ rating from the BBB.
If you’re looking for affordable car insurance coverage, Geico has many discounts that could help you save money. Federal employees, safe drivers, good students, and drivers with anti-theft vehicle technology could all qualify for discounted rates. Be sure to ask about discounts when you get a quote from Geico.
USAA was the top performer in our review, however USAA car insurance is only available to members of the military and their immediate family.
The auto insurer offers standard coverage and things like roadside assistance, rental car reimbursement, and accident forgiveness insurance. It tops the charts in many J.D. Power studies for customer satisfaction. With competitive discounts and many positive reviews, USAA is a great choice for those who qualify.
FAQs: Technology Insurance Company
Who owns AMTrust Financial Services?
AMTrust Financial Services is a privately owned insurance business founded by George and Michael Karfunkel. The company provides cyber insurance, business owner’s insurance, workers’ compensation, EPLI, and disability insurance.
AMTrust Financial Services is Technology Insurance Company’s parent company.
What is Wesco Insurance Company?
Wesco Insurance Company is a subsidiary of AMTrust that provides statutory disability benefits coverage.
Does Technology Insurance Company have car insurance?
No, Technology Insurance Company does not offer personal auto insurance. The company writes commercial auto insurance policies in Canada but does not have any offerings for individual drivers.
Published at Sun, 12 Apr 2020 21:57:42 +0000