Meritplan Auto Insurance Review (2023)
Meritplan Insurance received an A- rating from AM Best. Compare quotes to save up to 20% on your auto insurance rates and find the coverage you need.
Free Car Insurance Comparison
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
|
Written by
Rachel Bodine |
|
Reviewed by
Daniel Walker
|
UPDATED: Sep 25, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Sep 25, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
Free Car Insurance Comparison
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Meritplan Auto Insurance
Average monthly rate for good drivers:
N/AA.M. Best rating:
N/AComplaint level:
LowPros
- Meritplan Auto Insurance is a wholly owned subsidiary of Balboa Insurance Group
- Meritplan Auto Insurance is a wholly owned subsidiary of Balboa Insurance Group
Cons
- No AM Best rankings
The Bottom Line
Because of the transition of the Balboa Insurance Group and alleged fraud by some parties against the Balboa Insurance Group, some agents no longer offer Meritplan auto insurance coverage.
Customer service is provided for current policyholders of Meritplan auto insurance by Arrowhead General Insurance Agency (a managing general agency).
According to financial documents filed by QBE and Bank of America, Balboa’s current liabilities of about $1.2 billion will be assumed by QBE. QBE is paying $700 million in cash to complete the transaction.
Balboa was acquired by Bank of America as part of the Countrywide Financial Corp. acquisition in 2008.
Balboa is one of the country’s biggest players in forced-placed insurance. Force-placed insurance is sometimes necessary when a homeowner with a mortgage stops making homeowner insurance payments.
Force-placed insurance protects the lender’s financial interests. Unfortunately, the owner of the property must pay for the force-placed insurance at higher rates, sometimes several times more expensive than ordinary homeowner insurance.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
Meritplan Insurance Co. vs. Competitors
According to Dun & Bradstreet, Meritplan generated annual sales of about $65.98 million during the fiscal year ending December 2010.
QBE, the purchasing company of Meritplan and Balboa Insurance Group, is a member of the All Australian 50 (ASX) Index and is one of the largest insurance companies in the world.
The company reported sales of about $11.63 billion during the 2009 fiscal year. The company’s sales growth was approximately 35.78 percent (2009 vs. 2008).
The recorded net income for the 2009 fiscal year was approximately $1.77 billion. The company reported one-year net income growth of about 37.53 percent. QBE reports total assets of about $36.58 billion and a market value of about $17.94 billion.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
|
Written by
Rachel Bodine |
|
Reviewed by
Daniel Walker
|
No comments at this time...
0 reviews