Sparta Auto Insurance Review (2020)
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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Written by
Mathew B. Sims
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Reviewed by
Daniel Walker
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UPDATED: Aug 25, 2020
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UPDATE: Sparta Insurance Company is now owned by Catalina Holdings (Bermuda) Ltd.
- 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:
- Health
- Prescription
- Dental and vision coverage
- Retirement plan
- Paid vacations and holidays
- Disability insurance
- Educational assistance
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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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Review
DO NOT DO BUSINESS WITH SPARTA INSURANCE. NEGATIVE EXPERIENCE!!!!!!!!!!!!!!!!!!!!!!!!!!!
A group of 61 cab owners purchased Insurance for our Taxis in Seattle, WA from Sparta Insurance Company policy starting November 15th, 2012. It started out very smoothly, but within 15 days, some personnel from Sparta Insurance Company decided to cancel our insurance and sent us a 2-month cancellation notice effective January 31st, 2013.
Now our insurance will be cancelled as of January 31st, 2013. This decision was made because some FRAUD Insurance Brokers in Seattle, WA, and Eugene, OR sent bogus and misleading information to Sparta Insurance Company, as the FRAUDS did not want to see any competition in Taxicab Industry Insurance in Seattle, WA.
The decision that Sparta Insurance Company made was Morally WRONG. It was very bad business from their side. We paid Sparta Insurance company over $60,000 premium in two and half months and the claims were below $3000 which is only FIVE Percent of the premium paid. So it is clear whether Sparta made a mistake or not by cancelling our policy.
So everyone who wants to do business with Sparta, please THINK TWICE, as SPARTA might cancel your policy by believing misleading information. DO NOT DO BUSINESS WITH SPARTA INSURANCE. NEGATIVE EXPERIENCE!!!!!!!
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DO NOT DO BUSINESS WITH SPARTA INSURANCE. NEGATIVE EXPERIENCE!!!!!!! WORSE COMPANY EVER ACCOUNT POLICY WAS SUPPOSE TO BE CANCELED BUT THEY CLAIM THEY NEVER GOT THE 5 LETTERS I MAILED INTO THEM. a BUNCH OF BULL THIS COMPANY IS!!!!