Sparta Auto Insurance Review

Sparta auto insurance specializes in commercial insurance that includes worker's compensation and professional and vehicle liability for the hospitality and manufacturing industries.

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Company Details

Address:

CityPlace II, 185 Asylum Street

City:
Hartford
State:
Connecticut
ZIP Code:
06103
Phone Number:
860-275-6500
Year Founded
2007
AM Best Rating:
A-
Company Rating 1 (1 review)

Mathew B. Sims is Editor-in-Chief and has authored, edited, and contributed to several books. He has been working in the insurance industry ensuring content is accurate for consumers who are searching for the best policies and rates...

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Written by

Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance...

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Reviewed byDaniel Walker
Licensed Insurance Agenthttps://res.cloudinary.com/quotellc/image/upload/insurance-site-images/aiorg-live/d98a9f52-daniel-walker.png

UPDATED: Apr 16, 2020

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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.

UPDATE: Sparta Insurance Company is now owned by Catalina Holdings (Bermuda) Ltd.

Things to Remember...

  • Sparta Insurance Company is a privately owned insurance underwriter
  • Sparta Insurance Company and its subsidiaries are active in all 50 states and the District of Columbia
  • Some national insurance providers prefer to use local agents as a means of selling and servicing policies

Sparta Insurance Company is a privately owned insurance underwriter established in the spring of 2007 to fill very individualized insurance needs.

They are a property and casualty company specializing in unbundled insurance products and services for specialty needs. The types of products they offer cover everything from commercial liability to captive reinsurance to transportation and logistics.

Sparta Insurance Company and its subsidiaries are active in all 50 states and the District of Columbia, offering a wide range of commercial insurance services.

Areas of specific interest include worker’s compensation, commercial vehicle liability, professional liability, hospitality industry coverage, manufacturing liability, and housing and real estate.

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Sparta Insurance Company Agents

Some national insurance providers prefer to use local agents as a means of selling and servicing policies. Others prefer a direct-to-customer approach utilizing corporate employees for the same tasks.

Sparta Insurance Company prefers the direct-to-customer approach. All of their agent functions are handled through corporate employees who are full-time staff.

Independent agents work well for standard types of insurance, like your everyday home and auto policy, it’s a bit more difficult when dealing with specialty insurance.

By its very nature, specialty insurance requires a more comprehensive look at coverage needs, liability limits, and circumstances that may affect a policy.

Companies like Sparta are more comfortable dealing with the special needs on their own rather than entrusting them to local, independent agents.

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Sparta Insurance Company Locations

Even though Sparta Insurance Company is active all over the country, the only address we could find is for their Hartford, Connecticut headquarters.

A quick Internet search of the Sparta name does reveal a half dozen or more locations in various states.

It’s not possible to tell from these listings whether or not these offices are in any way related to the Sparta Insurance Company.

At least one of the offices we found turned out to be a local agency that offered a variety of insurance products at the consumer level. It’s quite likely that the rest of these offices operate on the same basis.

Sparta Insurance Company Careers

Sparta provides a careers link on its website where interested candidates can learn more about job opportunities.

At this time there are no openings available for new hires, but job seekers are encouraged to submit a resume for future openings.

When there are no new openings, they will be listed along with complete descriptions, requirements, and resume submission information.

Benefits received by Sparta employees include what one would normally think of for an insurance company.

Employees receive the following perks:

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Sparta Insurance Company Financials

Sparta’s A.M. Best rating of “A-” is sufficient evidence that the company is on firm financial footing. One would expect as much from a privately-owned insurance company funded primarily through private equity dollars.

When a private equity company invests in a project like Sparta they generally commit enough funding to last the lifetime of their investment, which is normally three to five years.

That being said, the most recent reporting of Sparta’s financial data shows they seem to be doing well.

As of last year, they listed working capital of $4.5 million, a policy surplus of $249.5 million, and total assets of more than $280 million. A.M. Best is impressed with Sparta’s capitalization, liquidity, and ability to meet short and long-term obligations.

At this point, there’s no reason to believe the company will not continue on into the foreseeable future.

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References:

  1. http://www.spartainsurance.com/
  2. https://www.allstate.com/tools-and-resources/insurance-basics/property-and-casualty-insurance.aspx
  3. https://en.wikipedia.org/wiki/District_of_Columbia_statehood_movement
  4. https://www.nationwide.com/commercial-auto-liability.jsp
  5. http://www.lawleyinsurance.com/business-insurance/industry-specialties/real-estate-insurance/
  6. https://en.wikipedia.org/wiki/Hartford,_Connecticut
  7. https://www.healthcare.gov/
  8. http://www.dentalandvision4u.com/
  9. http://www.edd.ca.gov/Disability/
  10. http://www.catalinare.com/
  11. http://www3.ambest.com/ambv/bestnews/presscontent.aspx?refnum=23917&altsrc=23


2 Reviews

  1. Harinder Singh January 30, 2013
  2. Shaiy Otis May 19, 2016

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