Wesco Auto Insurance Review (2023)

What You Should Know About Wesco

The best auto insurance companies have great reviews from the leading Consumer Rating Agencies like A.M. Best and the Better Business Bureau.

Rating agencies help consumers understand what it’s like to work with a specific company before committing to buying a policy.

Wesco Insurance Company’s reviews are blanketed under the AmTrust auto insurance review, therefore we will look at AmTrust’s data. Check out the table below to see how experts and consumers rate this company.

While the company’s overall ratings have room for improvement, they are relatively average and imply that service from AmTrust’s subsidiaries like Wesco Insurance Company is mediocre. Keep reading to explore each score in more detail.

A.M. Best

If your insurance comes from an AmTrust affiliate, like Wesco, you want to know with certainty that the company can pay if you file a Wesco Insurance Company claim. A.M. Best’s rating will help put your mind at ease, as it is based on the financial stability of a company.

AmTrust’s rating of A- is pretty good and indicates that, overall, A.M. Best believes AmTrust to have financial longevity and stability.

Read more: How to Get a Longevity Auto Insurance Discount

Better Business Bureau (BBB)

A rating from the Better Business Bureau will let you know what it’s like being a client of the specific insurance company. AmTrust Financial Group is not BBB accredited, which means Wesco Insurance Company is not accredited either.

The Wesco Insurance company BBB rating is a B-, mostly because the company failed to respond to numerous customer complaints filed against the company. Its rating could be worse, but it also is not great. Most online reviews in other parts of the internet about AmTrust as also negative. Wesco Insurance company complaints are also found under the AmTrust name.

Standard & Poor’s (S&P) Rating

An S&P Global rating, (Standard & Poor’s) is another indicator of a company’s financial stability. As a consumer, we want to know that our insurance company can protect us, even in the midst of a potential economic crisis.

AmTrust, and all of its subsidiaries, including Wesco Insurance Company, received a rating of BBB-, which is okay but has room for improvement.

The rating implies that the company has adequate capacity to meet the financial needs of its clients, but a shift in the economy could have negative repercussions, weakening the company’s ability to meet the financial needs of its customers.

NAIC Complaint Index

The NAIC Complaint Index allows consumers to get a glimpse as to what customer service is like from various businesses they may not have otherwise interacted with. For easy comparison, the national average is set to one. A lower score is better.

Wesco Insurance Company has a score of 0.99, which is very similar to the national average. There have been 36 company complaints filed in total. Considering the size of the company, that rating is fairly respectable.

How Easy Is Canceling Your Auto Insurance Policy With Wesco?

Canceling a policy with Wesco Insurance Company is done fully through AmTrust and its online client portal. There is no mention of a cancelation policy or procedure on the website.

Before purchasing any type of insurance through this company, we recommend reaching out to an agent and asking questions about any cancelation fees, potential refunds, and when they allow you to cancel your policy.

How Do You File Wesco Insurance Company Claims?

If you’re making a Wesco Insurance Company claim, you’re in luck. Wesco and AmTrust pride themselves on the most efficient and fast claims service in the business.

The company says that its claims representatives average more than 20 years of experience, and are given small workloads so that it can effectively give its full attention to each and every claim.

How easy is making a claim?

The parent company, AmTrust, maintains an automated claims platform that allows its representatives to quickly process claims while remaining completely paperless.

Claims can be initiated 24 hours a day, seven days a week, using a toll-free number that should be available on your policy documents.

If you go to the AmTrust website, you clearly see the correct link to click for information about claims on the left side of the page. Check it out in the image below.

When you click on Claims you are prompted to log in to your account before continuing.

The following image displays the client log-in and registration page.

Below the client login is a graphic with many different common questions a customer may have when filing a claim. Some prompt you to still log into your account before you can view any answers.

Clicking on Learn More will send you to an anchored section on the same webpage with more detailed information. See the image below.

The company’s medical director assists in evaluating all worker’s compensation and medical claims, while a three-point contact system quickly expedites the processing of automobile and property damage claims.

Customers are encouraged to track their claims after filing to ensure that payment is made in a timely manner.

How many premiums are written by Wesco Insurance Company?

The number of premiums written specifically by Wesco Insurance Company is not currently available, but we do have access to those numbers for its parent company, AmTrust Financial.

Take a look at the table below, which showcases the number of premiums written by AmTrust in the private passenger auto industry from 2015-2018.

What About AmTrust Financial’s Total Written Premiums?

Between 2017 and 2018, the company lost over $2 billion in written premiums. It also no longer display any personal auto insurance information on its website.

The drop in personal auto insurance premiums suggests that the company is transitioning away from that industry and are now focusing primarily on business insurance.

What is the loss ratio of Wesco Insurance Company?

An insurance company’s loss ratio is the difference between the number of premiums written versus the claims paid, on average you should expect your insurance company’s loss ratio to be around 60%-70%.

Anything higher can indicate severe financial trouble for the company. If the ratio is much lower, it may mean the company is not giving back enough to their clients. Take a look at AmTrust’s loss ratio for the private passenger auto industry from 2015-2018 in the table below.

What About AmTrust Financial’s Loss Ratio?

Just like the drop in written premiums, the loss ratio for AmTrust, and by association, Wesco Insurance Company took a severe shift between 2017 and 2018.

Can you get a Wesco auto insurance quote online?

To get a commercial auto insurance quote online through AmTrust’s website, you must navigate to the menu and select Insurance Products. The website will autogenerate a form for you to fill out.

It appears you must be applying for business insurance in order to receive a quote from AmTrust. The company seems to be shifting away from personal auto insurance, and instead are focused primarily on business insurance.

What Is The Company’s Auto Insurance History?

In 2006, Wesco Insurance Company was acquired by New York-based AmTrust Financial Group Inc. It now operates as a wholly-owned subsidiary of AmTrust, underwriting policies on the company’s behalf.

As such, Wesco Insurance Company no longer maintains its own web presence or sells products under its own brand name. 

What is Wesco Insurance Company’s market share?

Wesco Insurance Company’s specific market share details are unavailable, however, we do have access to AmTrust Financial’s data. Take a look at AmTrust’s, Wesco’s parent company, total market share rates for the private passenger auto insurance industry between 2015-2018 in the table below.

What is AmTrust Financial’s Total Market Share?

Between 2017 and 2018, Wesco lost a substantial amount of its previous market shareholdings, dropping almost an entire percentage. The extreme loss in its holdings is also reflected in a dip in its number of written premiums, which will be looked at closer later on.

While we are fairly certain not all of Wesco’s market shares go through Wesco Insurance Company claims, the extreme drop is a cause for concern.

What is Wesco Insurance Company’s position for the future?

We’ve uncovered some unstable financial issues for Wesco Insurance Company’s parent company, AmTrust Financial. However, it is possible the company is simply stepping away from the private auto insurance industry to focus on other insurance markets.

How is Wesco Insurance Company’s online presence?

Wesco Insurance Company no longer has much of an online presence. While it is mentioned on the history page of AmTrust’s website and on its Insurance Carriers page, not much else is available about the New York-based insurance agency.

AmTrust Financial, Wesco’s parent company, generates more search results. It has a Youtube channel where the company posts videos semi-regularly. It also has a Facebook page, a Twitter account, a Linkedin profile, and an Instagram account.

Does The Company have commercials?

Wesco Insurance Company does not have any commercials but their parent company posts commercials and advertisements on their Youtube channel on a semi-regular basis.

As a subsidiary of AmTrust, Wesco Insurance Company also abides by the same core values and guiding principles. The company advertises itself as being dedicated to supporting small businesses across the nation.

Is The Company involved in the community?

Once again, Wesco Insurance Company does not appear to advertise themselves in any way other than their connection to AmTrust Financial. On AmTrust’s website, the company does have a Corporate Responsibility page where it claims to be involved in some community efforts.

AmTrust claims its agents and employees voluntarily participate in corporate-sponsored events that benefit places like the American Heart Association, the Breast Cancer Research Foundation, and the American Foundation for Suicide Prevention.

On this page of AmTrust’s website they also say they will be implementing a Go Green Initiative and to check back for more details. There are no other specific details about what the Go Green Initiative entails or when it will be initiated.

What do employees have to say?

Wesco Insurance Company does not appear on Glassdoor or any other website that features employee reviews. However, its parent company does have a Glassdoor profile.

Employees rate working at AmTrust Financial as three out of five stars. 52% of employees approve of the CEO, Barry D. Zyskind. A total of 45%t of employees would recommend working at AmTrust to a friend.

We can only assume that the experiences of the employees working specifically on Wesco Insurance claims are accurately reflected by these reviews from fellow employees working for different AmTrust branches. It is unclear how many of these statements came from an independent insurance agent.

How Is The Design of The Website/App?

Many larger, recognizable insurance companies have both a website and a phone application for their clients to use. Access to an app can make filing and tracking claims simpler and makes keeping up with payments much easier.

While Wesco Insurance Company does not have a website or an app of any kind, its parent company has both. Let’s take a closer look.

AmTrust’s website homepage looks nice and is relatively easy to navigate. However, some of the written information provided can be difficult to understand, and it appears to lack some depth and clarity.

While every link on their website leads to a live page, a lot of the information is mostly made up of buzzwords, not concrete content. It can be difficult to find clear, concise answers to questions on the website. It also advertises employment opportunities on almost every page of its website, even when you’re filling out the form to receive a quote.

AmTrust’s website design is clean and simple, which makes it easy to look at. However, the lack of reliable content overshadows the aesthetics.

While Wesco Insurance Company does not have an app of its own, AmTrust offers a mobile app marketed to business owners who use AmTrust for business insurance. The app is called AmTrust Online, AO Mobile. It is available on both Apple and Android devices and is not recommended for use on tablets.

Business owners can manage their accounts relatively easily on the AmTrust Online app. You cannot create new quotes through the app, but you can bind already approved quotes, and even have conversations with their underwriter. The application does not appear to be available for personal or private policyholders.

The design of the app is a little busy and a little messy. However, the addition of an app for clients shows that AmTrust is willing to keep up with the technological advancements. Unfortunately, it is only available for the business owner and not the individual user.

What Are The Pros & Cons of Wesco Insurance?

The pros for Wesco Insurance Company are limited, as no specific information could be found about them. Their parent company, AmTrust Financial, has rocky online consumer reviews and appears to be stepping away from private auto insurance entirely.

The company’s overall financial situation is unclear, its ratings are mediocre, and unfortunately, the cons far outweigh the pros for this insurance provider.

Wesco Insurance Coverage Options

Currently, there is no mention of private auto insurance on the AmTrust website, which means no private auto quotes are being written by Wesco Insurance Company.

AmTrust does offer commercial auto insurance policies, but only to low-risk fleets like dry van, cargo, intermodal, and refrigerated trucks.

The company says it prefers to insure low-risk businesses to help keep premiums competitive. It avoids insuring commercial fleets involved with cattle transportation, garbage haulers, and gravel trucks.

The type of coverage they provide includes auto liability, physical damage, and general liability. The website also says the company provides motor truck cargo coverage, trailer interchange coverage, and hired and non-owned coverage.

Wesco Insurance Rates Breakdown

Unfortunately, auto insurance rates through Wesco Insurance Company and its parent company AmTrust Financial are unavailable. To request a Wesco auto insurance quote, you must click on the Insurance Products page on its website, and select Get a Quote.

The webpage generates a form for you to fill out. At this time, you must include information about your small business in order to receive a quote. Commercial auto insurance packages are available.

However, it appears that personal auto insurance policies are no longer available through the AmTrust Financial website. A Wesco quote will likely be for commercial coverage.

What is Wesco Insurance Company’s availability?

On the AmTrust website, they claim that Wesco Insurance Company is certified to work in all fifty states as well as in Washington D.C.

Unfortunately, there is very little information about Wesco online to verify the details of what type of insurance work they are certified to perform. AmTrust claims that Wesco Insurance Company primarily underwrites statutory disability benefits coverages.