A review of RLI Auto Insurance Company leads to RLI Insurance Company. RLI has been in existence for 45 years and focuses on underserved insurance markets. They started out focusing on only one insurance market, but have since expanded to include many
They started out focusing on only one insurance market, but have since expanded to include many types of insurance products, selling policies in several states.
RLI has a unique history within the insurance industry. RLI actually stands for Replacement Lens, Inc. In the 1960s, the contact lens industry was taking off. Before the invention of soft contact lenses, all contact lenses were hard. They were costly and not covered by many insurance carriers.
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Moving beyond contact lenses was an easy decision. RLI quickly moved into the field of selling commercial property insurance, umbrella insurance, and liability insurance.
This required creating subsidiaries that were able to sell in additional states. Throughout the years, RLI has consistently been given an A+ Superior rating by A.M. Best independent rating company and is licensed in all 50 states.
Since its expansion, RLI has developed three main categories of insurance coverage.
Those three categories are:
Within each of these categories are specific coverages that RLI has worked to perfect according to experience and customer needs. Each policy is customized to meet the needs of the people.
Hawaii homeowners insurance covers lightning, vandalism, smoke, fire, and other property damage. Hawaii is the only state covered for homeowners insurance because it is a niche market.
Homeowners insurance in Hawaii is costly due to the damages of volcanoes and flooding.
Pet insurance is another niche market RLI focuses on. Pet insurance is intended for pure breed dogs or expensive, exotic animals. Purchasing a pet of this kind is really an investment and if the animal gets sick or dies, you are protecting your investment.
The divisions of business insurance that RLI carries are casualty insurance, professional services, executive products, marine, specialty programs, property, reinsurance, and transportation.
Within these categories, there are several areas that are considered specialty coverage such as archery, yacht, public transportation, floating property, real estate trusts, and non-profit organizations.
RLI is licensed to sell Surety Bonds in all 50 states. Surety Bonds are a type of insurance that is necessary when there is a contract between a business and a customer.
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Agents who work for RLI must be trained in these specialty areas of insurance. Understanding what customers in these niche markets need is essential to developing relationships and providing the proper coverage.
Most agents that come to RLI have previous insurance experience but those who do not can undergo training.
Agents who come from other insurance fields undergo training both at the home or regional office as well as at specialty seminars and symposiums.
This training is applied immediately when writing policies for individuals and companies. RLI agents do not shy away from hard to insure companies or individuals. In fact, they look for companies that are underinsured.
Even though RLI does not carry personal auto insurance, you can compare auto insurance rates for yourself by entering your zip code in the free box below!