RLI Auto Insurance Review (2020)
RLI has been in existence for 45 years and focuses on underserved insurance markets. Our RLI Auto Insurance review showcases the products they offer, including homeowners and pet insurance. Meanwhile, basic auto insurance rates can be around $79.58/mo, depending on your state.
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UPDATED: Sep 16, 2020
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- RLI has been in existence for 45 years and focuses on underserved insurance markets
- RLI actually stands for Replacement Lens, Inc
- RLI has consistently been given an A+ Superior rating by A.M. Best independent rating company and is licensed in all 50 states
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 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.
RLI Hawaii Homeowners Insurance is just one of the popular products offered by the company. Read on for information on their other products.
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:
- Personal Insurance Coverage
- Business Insurance Coverage
- Surety Bonds
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.
Personal Insurance Coverage includes homeowners insurance for Hawaii residents, home business insurance, personal umbrella insurance, and pet insurance.
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.
A chart featuring homeowners insurance statistics can be found below.
Homeowners Insurance Statistics
|Average Homeowners Losses 2013–2017||$12,474|
|Average Claim Frequency 2013–2017||5.51|
|Average Annual Homeowners Insurance Rates in 2017||$1,211|
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As you can see, homeowners experienced over $10,000 in losses from 2013-2017.
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More RLI Insurance Products
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.
RLI umbrella insurance offers additional liability, which can come in handy if you have expensive assets. On thier website is a list of RLI umbrella requirements.
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 home business insurance reviews, RLI Insurance’s umbrella policy rating, and other specific product reviews are difficult to find, however, the company does have an A+ rating with the Better Business Bureau. RLI insurance reviews for the company differ depending on what review site you are using. It is best to do your resarch when looking for RLI Insurance Company reviews.
As mentioned above, the RLI Insurance rating with AM best rating is “Superior.”
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.
It’s worth noting that RLI Insurance also has a subsidiary called RLI Indemnity, who offers life and health insurance.
USe our quote box below to easily compare rates from great auto insurance companies.
Still wondering is RLI a good insurance company? Contact one of their agents and find out for yourself!
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.
Through the RLI website, you can easily contact an agent and ask about starting an RLI insurance policy! The site also offers an RLI Insurance login tool, where you can pay your bill.
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!