Esurance was founded in 1999, roughly two weeks before the new millennium and before the world would realize that fears of a Y2K catastrophe were unwarranted. As the dot-com bubble started to burst, Esurance embarked on a mission to be one of the first companies to use the internet to sell insurance directly to buyers. Their inaugural slogan of "Insurance. Only Better.” hoped to resonate with a newly tech-savvy consumer base.
The first Esurance television commercial aired in 2001, while three years later saw the debut of the pink-haired action heroine mascot Erin Esurance. In 2006, Esurance was the fastest growing auto insurance company as it provided coverage for more than 250,000 people.
This formerly small startup insurer got a big boost in 2011 when it was purchased by Allstate, one of the top car insurance companies. That year, John Krasinski appeared as Esurance’s first celebrity spokesman and introduced the new slogan “Insurance for the Modern World.”
Esurance has teamed up with Bryan Cranston for a Super Bowl ad and swung for the fences with a multi-year partnership as the exclusive auto insurance provider of Major League Baseball. Ties with America’s pastime run deeper, as Esurance has been featuring The Rookie actor Dennis Quaid in recent television spots.
Currently, Esurance employs over 3,000 people with a headquarters in San Francisco and 17 other offices across the United States. Esurance auto insurance is available in 43 states and motorcycle coverage is available in 11 states. The company offers homeowners and renters insurance in 31 and 21 states, respectively.
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Types of Coverage from Esurance Car Insurance
Esurance’s spot in pioneering a new way of offering car insurance didn’t stop with their inception. The company has regularly adopted new technologies that allow it to remain competitive and make insurance as easy as surfing the net. In 2006, Esurance partnered with Answer Financial to allow prospective customers to compare insurance rates from many other insurers all at once – a service still offered today.
The Esurance mobile app was launched in 2010. It allows you to pay your bill, view proof of insurance, add another vehicle or driver, or change your coverage. For help in that last function, check out the company’s Coverage Counselor, which guides you through a series of questions to determine your appropriate level of coverage. Esurance Mobile also lets you file a claim and submit photos of an accident, all in the app and from the scene of the incident.
Some of Esurance’s other services make driving and owning a car a little easier. After you file a claim, the company can help you find a certified E-star mechanic for accident-related repairs. The work is guaranteed for as long as you own the car. Fuelcaster by Esurance is an online tool that can tell you where to find the cheapest gas near you, as well as predict whether prices are likely to rise or fall in the near future.
In 2015, Esurance launched pay-per-mile coverage. Offering that service allows the company to compete in a much smaller pool of insurers compared to all other regular insurance companies.
Esurance Car Insurance Discounts
Esurance advertises their available discounts by pouring them out into three buckets: those related to your auto policy, those for being a good driver, and those related to safety equipment in your car.
The first type of discount is common to many auto insurers. If you bundle multiple insurance policies with Esurance, such as coverage for a motorcycle or multi-car policy, as well as renters or homeowner’s insurance, you can likely qualify for a multi-line discount. You may also see savings on your policy if you start a new online quote or pay for your entire policy upfront instead of on a monthly basis. Esurance offers discounts for policyholders who go more than five years claim-free, and for those who already carry roadside assistance from another provider.
Special discounts for being a safe driver are another great way to save with Esurance. One metric is holding a driver’s license for at least three years and having no more than one point on your record. The company’s proprietary (and voluntary) DriveSense feature tracks your driving habits and offers customized savings for safe driving. There are also available discounts for full-time students with good grades and for drivers over 50 who have taken a defensive driving course.
Lastly, you can likely qualify for some savings if your car has manufacturer-installed or factory-installed airbags and automatic seatbelts, or equipment such as an anti-theft device and anti-lock brakes.
Other Types of Policies From Esurance
In addition to coverage for personal cars, trucks, and SUVs, Esurance offers insurance policies for a long list of other types of vehicles. That includes motorcycles, classic vehicles, RVs, boats and personal watercraft, ATVs, snowmobiles, trailers, golf carts, scooters, and Segways. Through the company’s partners, you can find insurance for commercial vehicles or for driving in Mexico.
You can bundle Esurance auto policies with homeowner’s insurance from the provider too. Don’t own your domicile? Check out Esurance’s offerings for renters and condo insurance. Other available coverage from Esurance includes life, health, business, and flood insurance, as well as extra umbrella coverage.
Esurance Financial Fitness
Currently, Esurance has 1.5 million items in force, and in 2016 it wrote $1.68 billion worth of insurance premiums. Esurance is a relatively minor player in the auto insurance sphere, which is dominated by a handful of other providers. State Farm leads with a market share of around 18%, with Berkshire Hathaway (which owns GEICO) coming in at almost 13%. Progressive has a nearly 10% market share and Allstate, which owns Esurance, has a 9.3% share. Those percentages are for 2017 according to the Insurance Information Institute.
Allstate has announced the intention to phase out the Esurance brand sometime within 2020 and utilize its direct-to-consumer sales method elsewhere in the company.
Other Insurance Brands Related to Esurance
The Esurance brand is owned by Allstate.
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The Cheapest Car Insurance Companies in 2020
Average Annual Rates:
- USAA: $885
- Geico: $1,168
- State Farm: $1,234
- Travelers: $1,267
- Progressive: $1,373
- American Family: $1,391
- Farmers: $1,682
- Nationwide: $1,864
- Allstate: $1,880