Financial Indemnity Auto Insurance Review (2024)

Financial Indemnity Company has been around for a while, but the company has probably merged with bigger companies to stay in business. It’s commonplace in smaller insurance companies.

While Financial Indemnity underwrites insurance policies for Kemper, they maintain a strong financial standing even today. The auto insurance rates fall in the range of average annual rates.

However, the lack of information and poor consumer reviews at Kemper may have potential customers second guessing whether they want auto insurance from either company.

What You Should Know About Financial Indemnity

Financial indemnity company insurance is known for its robust auto insurance options available in 23 states. Recognized for their specialization in auto insurance, they cater to a broad range of customers with varied needs. As a part of the kemper financial indemnity company, the firm leverages extensive resources to meet customer needs.

Financial Indemnity Company shares Kemper Corporation’s A.M Best rating, which is an “A-.” The “A-” is an excellent rating under A.M. Best standard. This means that Kemper and its associates have met the obligations to its customers.

However, the location of Financial Indemnity’s Dallas, Texas, has been rated as B+ under the Better Business Bureau (BBB).

Financial Indemnity Company has no more ratings listed, but Kemper is in good financial standing. Despite its financial success, Kemper’s insurance reviews at the BBB are “A+,” but its customer review ratings are just one star.

Across the internet, Kemper auto insurance reviews have a decent rating from financial and credit rating agencies but have many consumer complaints.

Financial Indemnity Company is an insurance company that was incorporated in December 1945. The company earned assets totaling $136,996,719, capital of $2.6 million, and a net surplus of $28,204,503.

Financial Indemnity underwrites for Kemper, which was formerly known as Unitrin.

By 1990, Financial Indemnity’s parent company, Unitrin, made strides to expand its organization through stocks.

In 2002, Unitrin bought rights for the homeowners and auto insurance lines of Kemper Insurance, which was an insurance company based in Chicago that provided insurance and financial services.

Unitrin finally purchased all rights to the Kemper in 2010. As of August 2011, it currently operates as the Kemper Corporation trades on the New York Stock Exchange, and provides insurance.

Financial Indemnity auto insurance underwrites for the Kemper Corporation. Any online management or information will be through the Kemper Corporation insurance website. Therefore, Financial Indemnity’s only online presence is through Kemper’s website.

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Financial Indemnity Insurance Coverage Options

Financial Indemnity, aligning with Kemper’s extensive portfolio, offers robust car insurance options. Their offerings include standard coverage such as liability, collision, and comprehensive insurance, addressing the essential needs of most motorists. Additionally, Financial Indemnity extends specific products that cater to unique customer demands, including high-risk auto insurance and specialized coverages for unique vehicle categories.

Liability coverage is the minimum requirement for auto insurance in each U.S. state has its liability coverage limits and requirements.

The Insurance Information Institute provides a list of minimum liability requirements by state, which we’ve summarized in a data table.

Liability Auto Insurance Coverage Requirements by State

States like Texas require PIP and Med Pay. These items in liability coverage are known as additional liabilities. PIP and Med Pay are automatically placed in liability coverage with no extra cost if your state requires it.

PIP stands for Personal Injury Protection, and Med Pay stands for Medical Payments.

Liability auto insurance covers bodily injury and property damage to the other driver. How liability covers overall loss depends on the state.

Even small companies like Financial Indemnity carry collision and comprehensive coverage. Financial Indemnity is currently based in Dallas, Texas. Therefore, Financial Indemnity would follow the insurance law of Texas.

In addition to the likelihood of motorists purchasing a vehicle, Dallas has one of the biggest motorist populations in the U.S. Therefore, collision and comprehensive auto insurance coverages are highly recommended.

Kemper does offer Guaranteed Auto Protection (GAP). GAP insurance is protection if your vehicle damage is determined to be a total loss.

Financial Indemnity roadside assistance is also offered through Kemper. This will help when you need to tow your car to an auto repair shop or if your battery needs a jump.

Financial Indemnity Insurance Claims Processing and Customer Service

Financial Indemnity is committed to efficient customer service and claims processing. Financial indemnity company claims can be made through several channels, ensuring a smooth process for policyholders. Customers can reach out via the kemper car insurance phone number for direct communication regarding their car insurance policies.

Policyholders can contact their support or claims department via several methods:

• Financial Indemnity Claims Phone Number: Available for quick access to file claims and inquire about claim status.
• Financial Indemnity Insurance Customer Service Phone Number: General inquiries, including policy details and payments.

The integration of Kemper’s technology, like the Kemper specialty EZPay system, streamlines payment processes, enhancing customer convenience. For a direct response, use the financial indemnity company claims phone number listed in your policy documents.

Financial Indemnity Insurance Rates Breakdown

Financial Indemnity has no auto insurance rates you can view publicly. Small and even medium-sized auto insurance companies generally don’t show non-specific auto insurance rates.

Auto insurance agents in your area or any other location would rather give a personal insurance quote than rates that aren’t adjusted to your specific situation. A personal insurance quote estimates car insurance costs using your personal information to generate the insurance cost.

In the next sub-section, we will give you the average auto insurance costs in every state. These rates are based on the average cost of auto insurance.

Small companies like Financial Indemnity Insurance Company have limited availability in-person and online. Financial Indemnity car insurance serves in 23 states, but it isn’t clear whether they have independent brokers nationwide.

It’s best to cover all of our bases. Therefore, we will provide the average annual rate of all 50 states in the data summary.

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Don’t let the wording confuse you. Rates and premiums are essentially the same. The rates displayed in the table are a composite of average annual rates from auto insurance companies in each state.

See how the average annual rates are cheaper in some states and more expensive in others. Depending on your income, auto insurance can be expensive.

Let’s look at another data table that describes how auto insurance affects the average person’s annual income in each state.

Average Annual Auto Insurance Rates as a Percent of Income by State

A motorist earning the average annual income will pay a small percentage of their income per year. The largest auto insurance, as a percentage of income, is in Michigan.

For more information or to get a quote, please call the financial indemnity phone number listed on our website.

 

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Financial Indemnity Discounts Available

Can you get a discount from Financial Indemnity auto insurance? Financial Indemnity will have discounts available from their parent company, Kemper. Kemper lists its auto insurance discounts, which are:

• Anti-theft Devices
• Away at School
• Driver Training Course
• Good Student
• Multiple coverages
• Package
• Passive Restraint or Passenger Airbags

Kemper’s auto insurance also discounts those who enroll in text alerts known as Kemper EZPay℠ Text Cancel Alerts.

Kemper EZPay℠ Text Cancel Alerts notify you when your policy about to be canceled for nonpayment.

Here are some other Kemper auto insurance discounts that will help you save money:

• Paid in Full discount
• Prior Insurance discount
• Residence discount
• Multi-car discount

The paid-in-full discount is applied when you have paid the balance in full at the start of the auto insurance policy period.

The prior insurance discount happens when you keep your current Kemper or Financial Indemnity Company auto insurance policy active.

In addition to auto insurance, kemper home insurance reviews suggest high customer satisfaction for home coverage as well. Homeowners with a Financial Indemnity or Kemper auto insurance policy can receive a discount. If you need to insure multiple vehicles, lower your auto insurance rates by including multiple drivers and vehicles on your policy.

Financial Indemnity’s Affiliation with Kemper

Financial Indemnity operates as a crucial part of Kemper Specialty, benefiting from Kemper’s strong market presence and financial stability. This relationship supports Financial Indemnity in maintaining high standards of service and extensive insurance knowledge, reflecting positively in their A.M. Best ratings and overall industry standing.

Reviews and Consumer Feedback

Kemper, the parent company, often reflects the consumer sentiment towards its subsidiaries like Financial Indemnity. Kemper’s reviews are mixed, with many appreciating the comprehensive coverage options and customer service, while some point out areas needing improvement, particularly in claims handling. Prospective customers are advised to read Kemper insurance reviews to gauge service quality. The Kemper insurance rating by A.M. Best affirms the company’s strong financial health.

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Kemper’s Financial Stability and Ratings

Kemper’s financial robustness is mirrored in its ratings, with A.M. Best providing a strong indication of its ability to meet obligations. The stability of Kemper fortifies Financial Indemnity’s position in providing reliable insurance solutions.

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