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Essentia Auto Insurance Review

  • 33333
Address: One Beacon Lane
City: Canton
State: MA
ZIP: 02021
Phone Number: (781) 332-7000
AM Best Rating: A (OneBeacon)
Market Cap: $1.24 Billion (OneBeacon)
Year Founded: 1901
Things to Remember...
  • The Essentia Insurance Company is a property and casualty insurer originated in Florida in 2007
  • Essentia is headquarted at the OneBeacon Minnesota office
  • OneBeacon focuses consumers and commercial division

Research into an Essentia auto insurance indicates no auto insurance company by this name. The Essentia Insurance Company is a property and casualty insurer originated in Florida in 2007.

Shortly thereafter they were acquired by Bermuda-based OneBeacon Insurance Group and assigned to their Marine insurance division.

Today Essentia makes its headquarters at the OneBeacon Massachusetts office, focusing mainly on both consumer and commercial level Marine insurance coverage.

If you’re looking for the best auto insurance rates in your state, entering your zip code above will make your search that much easier!

OneBeacon FAQs

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OneBeacon has two separate marine-based divisions; one is focused on commercial-grade, ocean-based operations while the other focuses on inland marine operations.

Essentia Insurance Company is part of the latter group. They provide insurance coverage for both personal and commercial boats as well as accidents and property damage in relation to the normal operation of the watercraft they insure.

The address listed at the top of this article is the main address currently attributed to Essentia Insurance Company. However, OneBeacon maintains its U.S. headquarters in Minnesota.

Below is the address and contact information for that office:

OneBeacon U.S. Corporate Headquarters
601 Carlson Parkway
Suite 600
Minnetonka, MN 55305
Phone: (877) 434-3900

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Essentia Marine Insurance

Unlike some of the other OneBeacon divisions, their inland marine division does partner with local agencies to provide Essentia insurance coverage.

Records for the state of Wyoming’s insurance department, for example, list nearly fou dozen agencies under contract with Essentia Insurance Company as of 2009.

These agencies most likely deal with individual consumers and small business operations only.

Unfortunately, Essentia Insurance Company does not maintain its own website and OneBeacon doesn’t provide any agent information on theirs.

In order to find the agents we did, we had to search individual state insurance records.

You could potentially get information about local agencies your area by either contacting OneBeacon directly or by calling local agents from your phone book and asking who they represent.

Essentia Insurance Company Claims

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One Beacon Insurance Group divides its business into 13 different divisions, including the inland marine division of which Essentia is a part. Each division has its own claims department with individual telephone numbers.

The information you need to get started with a claim can be found in your policy documentation as well as listed on the OneBeacon website.

If you purchased your Essentia policy through a local agent, you might also be able to initiate a claim through that individual.

OneBeacon tries to make the claims process as easy and painless as possible. They provide a limited number of documents in PDF format on their website.

These documents, which are freely downloadable, answer specific claims questions regarding a few individual states and some special circumstances.

Essentia Insurance Company Financial Strength

Because Essentia Insurance Company was never really established as an underwriter before their acquisition, their financial strength lies almost exclusively in that of their parent company.

That’s not necessarily a bad thing, especially since OneBeacon consistently enjoys an “A” rating from AM Best. OneBeacon is in a very strong financial position with the ability to meet all current obligations and potential claims.

AM Best has also expressed confidence in the company’s future outlook by grading it as “stable.”

We were able to uncover Essentia’s financial report from last year which is another indication of their good financial footing. That report listed total assets at approximately $52.9 million, an approximate policy surplus of $34.5 million, and current working capital of approximately $4.5 million.

Essentia Insurance Company Careers

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Although Essentia does not do business separate from OneBeacon, they do have job postings as part of the parent company’s database. You can find available jobs by visiting OneBeacon’s website and clicking the Careers link at the top of the page.

One Beacon promotes itself as a great place to work with competitive compensation, an impressive list of benefits, and a working environment which encourages employees to think like owners.

Full details about compensation and benefits can be found on the corporate website.

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