Is Prudential Good for Auto Insurance?
Last Updated on July 5, 2021
Prudential is an insurance company based in Newark, New Jersey. The company offers a broad range of financial services and insurance products.
Backed by 145 years of experience, Prudential continues to sell auto insurance and other insurance products across the United States.
Is Prudential the right car insurance company for you? Should you buy car insurance through Prudential? Keep reading to discover everything you need to know about Prudential’s auto insurance.
Table of Contents:
- What Is Prudential?
- Prudential Products & Services
- How Does Prudential’s Auto Insurance Work?
- What Makes Prudential Unique?
- Prudential Auto Insurance Discounts
- Prudential Ratings & Reviews: What Do Customers Have to Say?
What Is Prudential?
Prudential is a Newark, New Jersey-based insurance company and financial services provider. The company has 145 years of experience providing insurance and financial products across the United States and around the world.
Today, Prudential has more than $1.6 trillion in assets under management. The company also has more than 50 million customers in over 40 countries.
Prudential is a publicly traded company (NYSE:PRU) founded on the belief that financial security should be reachable for everyone. Prudential has grown to become one of the world’s largest financial services institutions. The company has significant operations in the United States, Asia, Europe, and Latin America.
Prudential’s logo is The Rock, a registered trademark of the company. Prudential describes The Rock as “an icon of strength, stability, expertise, and innovation.”
Prudential Products & Services
Prudential offers a wide range of financial services and insurance products, including all of the following:
Auto Insurance: You can buy auto insurance through Prudential partners in certain states. The company offers car insurance through Plymouth Rock in New Jersey, for example.
Life Insurance: Prudential is well-known for its life insurance, and the company has offered life insurance for over 140 years. Today, Prudential offers multiple life insurance policy options, including SimplyTerm, Term Elite, Term Essential, PruTerm One, PruLife Essential UL, and multiple other indexed universal life, survivorship universal life, and variable universal life insurance policies.
Health Insurance: Prudential offers health insurance for employers, self-employed individuals, unemployed individuals, and others. You can buy short-term health insurance, Medicare plans, and other options through Prudential.
Retirement Planning: Prudential offers multiple retirement planning services, including 401(k) rollover options and custom retirement planning solutions.
Annuities: Prudential offers annuities that allow you to create a more secure retirement with protected income. Prudential’s annuities are issued by Pruco Life Insurance Company and the Prudential Annuities Life Assurance Corporation.
Investments: Prudential offers investment planning services and other investment products, including mutual funds, college savings plans, the Prudential SmartSolution IRA, and personalized portfolios. A Prudential financial professional can help build an investment portfolio that’s right for you.
Workplace Benefits: Prudential offers workplace benefits to companies and their employees. Employees can access insurance products, retirement solutions, and other tools and resources if their employer has partnered with Prudential.
How Does Prudential’s Auto Insurance Work?
Prudential does not directly sell auto insurance anywhere in the United States. Instead, to buy Prudential auto insurance, you need to work with independent partners like Plymouth Rock.
Prudential also sells Liberty Mutual insurance products in certain regions. According to Prudential.com, Liberty Mutual is not affiliated with Prudential. However, Liberty Mutual and its subsidiaries and affiliates underwrite and issue personal line products, and Prudential is an authorized distributor of these products.
Similarly, Prudential has an exclusive relationship with Plymouth Rock in certain states, including New Jersey. If you are working with a Prudential financial professional in New Jersey, then that financial professional may be able to provide you with a discount on Plymouth Rock insurance policies in the state.
If you buy car insurance through Prudential’s partners, then you can buy the following coverage options:
Liability Coverage: Liability coverage includes bodily injury and property damage liability coverage. With liability coverage, your insurer covers any damages you caused up to the limits of your policy. Most states require liability coverage.
Collision Coverage: Collision coverage is optional in all states. It covers the cost of repairing or replacing your vehicle after an accident.
Comprehensive Coverage: Comprehensive coverage is also optional in all states. It covers non-accident damages, including theft, vandalism, collisions with animals, fire damage, and more.
Commercial Auto: Plymouth Rock sells commercial auto insurance policies to Prudential customers and non-Prudential customers. You can buy auto insurance to cover your business’s vehicles or fleet.
RV, Motorhome, & Motorcycle Coverage: You can insure alternative vehicles via Plymouth Rock and Prudential, buying policies to protect your RV, motorhome, motorcycle, and other vehicles.
Uninsured & Underinsured Motorist Coverage: Millions of Americans drive without car insurance. Many drivers carry uninsured and underinsured motorist coverage for added protection.
What Makes Prudential Unique?
Prudential has several features that distinguish it from other insurance companies in the United States, including:
Largest Insurer in the United States: Prudential is the largest insurance company in the United States. The company manages nearly $1.5 trillion in assets. Although the company does not directly sell auto insurance, Prudential sells life insurance, annuities, mutual funds, pension and retirement planning services, and more.
International: Prudential has significant operations around the world. The company offers products and services in the United States, Europe, Asia, and Latin America.
Backed by 145+ Years of Experience: Prudential was founded in Newark, New Jersey in 1875. Today, the company has 145+ years of experience providing insurance and financial services across the United States.
The Rock: Prudential’s symbol is The Rock, also known as the Rock of Gibraltar. Over its history, the company has used slogans like “Get a Piece of the Rock” and “Strength of Gibraltar” to sell financial products and services.
5% Discount Through Plymouth Rock in New Jersey: Prudential does not directly sell auto insurance. However, the company partners with Plymouth Rock and other providers to sell car insurance. If you are a Prudential customer (say, for their financial products or other insurance products), then you are eligible for a 5% discount on New Jersey auto insurance through Plymouth Rock.
Prudential Auto Insurance Discounts
Prudential has partnered with Plymouth Rock to sell car insurance at discounted rates in New Jersey. If you are a Prudential customer, then you could be eligible for the following discounts through Plymouth Rock:
5% Discount in New Jersey: Prudential customers in New Jersey can get a 5% discount on auto insurance by buying through Plymouth Rock.
Bundling Discounts: Plymouth Rock provides bundling discounts, allowing Prudential customers to save money by bundling multiple insurance policies together with Plymouth Rock.
Group Discounts: If you are a member of a group or an employee of a company that has a group program with Plymouth Rock, then you may be eligible for a group car insurance discount.
Road Rewards Program: Plymouth Rock has a Road Rewards program that rewards safe drivers in exchange for tracking their behavior. You download the Road Rewards app, and the app tracks your driving habits to provide you with customized rates.
Loyalty Rewards: The longer you stick with Plymouth Rock, the more you can save via the company’s loyalty discounts.
Safe Driving Discount: Drivers with a proven track record of driving safely will save 40% or more on car insurance through Plymouth Rock. The discount varies based on your age, driving history, and other factors.
Prudential Ratings & Reviews: What Do Customers Have to Say?
Prudential is America’s largest insurance company. Although the company does not directly sell auto insurance, the company has all of the amenities and financial strength you would expect with an insurer of its size.
A.M. Best has given an A+ rating to Prudential and all of its main affiliates. The company also has an AA- or A+ rating from Standard & Poor’s, Aa3 ratings from Moody’s, and AA- ratings from Fitch. Based on these ratings, Prudential should have no issue covering its insurance liabilities.
Prudential is not accredited by the BBB and has an NR rating. The company’s BBB page has 177 complaints closed in the last 3 years and an average rating of 1.05 stars out of 5.
If you buy Prudential auto insurance, you’re generally buying from Plymouth Rock. Plymouth Rock has strong reviews on review aggregator websites. The company has a 4.1 star out of 5 rating on Clearsurance, for example, and a 4-star rating from The Zebra, based on aggregate customer reviews.
Final Word on Prudential Auto Insurance
Prudential is the largest insurance company in the United States and one of the world’s largest financial services companies overall.
Although Prudential offers a wide range of insurance services and financial products, the company does not directly sell auto insurance in the United States. However, you may be able to buy Prudential auto insurance through independent partners like Plymouth Rock, which provides a discount to Prudential customers in New Jersey.