Is The Cincinnati Good for Auto Insurance?
Last Updated on June 11, 2020
Cincinnati Insurance Company, also known as Cincinnati Financial or The Cincinnati, sells car insurance across the United States.
The Fairfield, Ohio-based company offers commercial insurance, life insurance, and personal lines insurance, among other insurance products.
Most reviews suggest that The Cincinnati is a good insurance company. The company has an A+ financial strength rating from A.M. Best, for example, and near-perfect scores from J.D. Power.
Is The Cincinnati good for car insurance? Should you get an auto insurance quote through Cincinnati Insurance? Keep reading to discover if The Cincinnati is good for auto insurance.
What is The Cincinnati?
Cincinnati Financial Corporation is an insurance company founded in Cincinnati, Ohio in 1950. Today, the company owns approximately 1% of the American property and casualty insurance market. It’s the 20th largest car insurance company in the United States by market share.
The Cincinnati offers a full spectrum of insurance products and financial services, including property and casualty insurance, life insurance, and asset management. Cincinnati Financial employs over 5,000 people across the United States.
Is The Cincinnati a Good Insurance Company?
Most reviews and ratings indicate that The Cincinnati is a good insurance company. The company has strong financial strength ratings, for example, and good reviews online.
J.D. Power only ranks the largest insurance companies in the United States nationwide, and The Cincinnati falls just below the cut-off, which means it does not appear on J.D. Power’s nationwide rankings of the best car insurance companies.
However, The Cincinnati does appear on certain J.D. Power regional rankings, where it scores average or above. In 2019, for example, The Cincinnati scored a 3/5 in overall satisfaction in the North Central region of the United States, ranking 11th out of 24 companies in the region.
Cincinnati Insurance scored a 3/5 rating for policy offerings, price, and billing process, along with a 4/5 rating for customer interaction and a 5/5 rating for claims satisfaction.
Cincinnati Insurance scored better on J.D. Power’s home insurance ratings, where the company received a 4/5 score in overall customer satisfaction.
In terms of financial strength, A.M. Best has ranked The Cincinnati A+ (Superior), indicating the company has solid financial strength and a good ability to fulfill claims. For perspective, only the top 12% of property-casualty insurance companies receive a rating of A+ or higher from A.M. Best.
Fitch, Moody’s, and S&P have awarded similarly impressive ratings to the company. You can view the latest financial strength ratings for The Cincinnati here.
The National Association of Insurance Commissioners (NAIC) also receives fewer complaints about The Cincinnati relative to other companies of its size.
Overall, The Cincinnati is a well-rated insurance company with a strong financial position. The company scores well with professional organizations and policyholders alike.
The Cincinnati Car Insurance: What Makes The Cincinnati Unique?
The Cincinnati offers similar car insurance policies to other companies, including liability, collision, and comprehensive coverage. Certain features that make The Cincinnati car insurance unique include:
Auto Plus Endorsement: Drivers can add an Auto Plus endorsement to their policy to significantly extend coverage. Auto Plus includes roadside assistance, deductible waivers, trip interruption coverage, and other bonuses in most states, for example.
Capstone Endorsement: Capstone is the highest level of car insurance coverage available through The Cincinnati. Capstone covers high-value vehicles with customized plans, making it easy to get the exact coverage you need for any unique situation.
Safety Restraint Benefits: If you were wearing your seatbelt at the time of the accident, then you might receive double the coverage for any medical payments.
Transportation Expenses: The Cincinnati may cover temporary transportation expenses (like a rental car) if you are unable to use your vehicle.
Roadside Assistance: Your policy may cover roadside breakdowns, dead batteries, fuel delivery, towing, and more.
Deductible Waiver: Drivers with Auto Plus coverage may be able to waive their deductible after a total loss.
Trip Interruption Coverage: Auto Plus members may receive compensation for trip interruptions, including hotels, meals, and other expenses incurred while away from home.
New Car Replacement: Certain members will receive new car replacement compensation if a new vehicle is totaled or stolen.
Agreed Value: The Cincinnati offers agreed value car insurance policies for certain vehicles.
OEM Parts Coverage: Capstone tier members receive original equipment manufacturer (OEM) parts coverage for eligible vehicles.
Cash Settlement Option: Capstone tier members can choose a cash settlement if physical damage to the vehicle exceeds 50% of the agreed value of the vehicle.
Gap Coverage: The Cincinnati is one of a few car insurance companies offering gap coverage, which bridges the gap between the actual value and cost of your vehicle.
Replacement Cost Plus Coverage: The Cincinnati offers replacement cost plus coverage for brand new cars with fewer than 1,000 miles. If you totaled a brand new vehicle, you can get a brand new car or payout for the complete balance of your loan without depreciation.
Antique and Collector Car Coverage: The Cincinnati offers unique car insurance coverage for antique or collector cars.
The Cincinnati Auto Insurance Discounts
The Cincinnati offers similar discounts to most other car insurance companies in the United States. Common discounts include:
Safe Driving Discounts: Drivers with a clean record and no claims for 3-5 years may save 30% or more on car insurance.
Bundling Discounts: Bundle home and car insurance policies together to save money.
High Deductible Discounts: Raise your deductible above $500 to qualify for a discount.
Good Grade Discounts: High school and college students with a 3.0 GPA (or B average) or higher may qualify for cheaper car insurance.
Multi-Vehicle Discounts: Add multiple vehicles to the same insurance policy to save money.
Here is an overview of the discounts The Cincinnati offers:
|Accident Free Discount
|Anti-Theft Device Discount
|up to 15%
|Good Credit Discount
|up to 54%
|Good Driver Discount
|up to 25%
|Good Student Discount
|up to 10%
|Increase your deductible
|More Vehicles Than Drivers
|Multiple Policy Discount
|up to 11%
|Multiple Vehicle Discount
|up to 31%
|Report fewer or no claims
|Student Away at School Discount
|up to 47%
Final Word on The Cincinnati Auto Insurance
The Cincinnati is an Ohio-based insurance company with a long history of providing well-rated home, car, and life insurance to policyholders across the United States
Today, The Cincinnati continues to be a popular, well-rated option for policyholders across the country. The company has a strong financial rating along with good to average reviews from organizations like J.D. Power.
Consider requesting a car insurance quote from The Cincinnati today.