What’s New with Shelter Insurance Review?
In September 2023, AM Best revised Shelter Insurance’s long-term issuer credit ratings (ICRs) outlook from stable to negative. This suggests potential financial challenges in meeting ongoing obligations. However, Shelter maintains an A (Excellent) financial strength rating, positioning it among other reputable national insurers.
Car Shelter Insurance Review
Shelter Insurance, a regional provider, holds a 3.8 Score for auto insurance. Though it ranks slightly lower than some top national insurers in third-party evaluations, it remains a solid option in the 15 states it serves.
Strengths
One of Shelter’s key advantages is its strong customer service. In 2023, it ranked first in customer satisfaction in J.D. Power’s U.S. Auto Insurance Study for the Central region for the third consecutive year. Additionally, Shelter includes roadside assistance and new car replacement in every policy, setting it apart from many competitors.
Shelter also offers unique optional coverages, such as:
- Disability Income Coverage
- Loss of Use Coverage, providing a one-time payout when your vehicle is under repair following a claim.
Pros and Cons of Shelter Car Insurance
Pros:
- Ranked No. 1 in customer satisfaction in the Central region by J.D. Power
- Comprehensive coverage options
- Roadside assistance and new car replacement included in all policies
Cons:
- Limited availability (only serves 15 states)
- High rates for young drivers
- No accident forgiveness policy
Shelter Car Insurance Cost
Shelter’s average annual premiums compared to national averages:
- Full Coverage: $2,352 (National Avg.: $2,670)
- Minimum Coverage: $614 (National Avg.: $773)
Premiums Based on Driver Profile
| Driver Profile | Shelter Full Coverage Premium | National Full Coverage Premium |
|---|---|---|
| Good Driver, Good Credit | $2,352 | $2,670 |
| Good Driver, Poor Credit | $4,344 | $4,717 |
| Speeding Ticket | $2,413 | $3,255 |
| At-Fault Accident | $2,918 | $3,842 |
| DUI Conviction | $2,748 | $5,185 |
Shelter Car Insurance Quotes by Age
| Age | Shelter Full Coverage Premium | National Full Coverage Premium |
| 16 | $3,232 | $5,743 |
| 18 | $2,954 | $4,954 |
| 20 | $5,301 | $5,429 |
| 25 | $3,255 | $3,299 |
| 30 | $2,862 | $2,855 |
| 40 | $2,352 | $2,670 |
| 60 | $1,898 | $2,405 |
Shelter offers competitive rates, especially for drivers with clean records, but younger drivers still face high premiums due to their risk profile.
Compare Shelter Car Insurance Rates
| Company | Full Coverage Premium | Minimum Coverage Premium |
| Shelter | $2,352 | $614 |
| State Farm | $2,883 | $912 |
| Progressive | $2,379 | $710 |
| Geico | $2,172 | $568 |
| Allstate | $3,309 | $923 |
| USAA | $1,960 | $564 |
| Nationwide | $2,028 | $741 |
| American Family | $2,825 | $910 |
| Travelers | $2,151 | $588 |
| Erie | $2,159 | $705 |
Shelter’s full coverage premium is competitive but not the cheapest option. USAA and Geico offer lower premiums, particularly for military families and safe drivers.
Shelter Home Insurance Review
Shelter home insurance may be a good option for homeowners seeking customizable coverage, particularly those who already have auto insurance with Shelter. The Score for Shelter home insurance is 3.5 out of 5, primarily due to its higher rates, limited availability, and lack of J.D. Power ratings.
Pros and Cons of Shelter Home Insurance
Pros:
- Extensive endorsement options
- Multiple discounts available
- A (Excellent) financial strength rating from AM Best
Cons:
- Not available in every state
- Customer service only accessible during business hours
- No available average rate data
The national average homeowners insurance cost in 2024 is $2,258 per year, but Shelter’s specific rates are unavailable. Gathering multiple quotes from different providers is recommended.
Shelter Life Insurance Review
Shelter offers a variety of life insurance products, including:
- Term Life Insurance: Available without a medical exam
- Whole Life Insurance: Three different options
- Universal Life Insurance: Flexible policy options
- Children’s Life Insurance: Affordable coverage for minors
Pros and Cons of Shelter Life Insurance
Pros:
- Various policy types available
- Multiple rider options for policy customization
- Term life insurance does not always require a medical exam
- Bundling discounts available
Cons:
- Not available nationwide
- Customer service is not 24/7
- No online quote option
Comparing Shelter Insurance to Other Insurers
| Company | Full Coverage Auto Rate | Home Insurance Rate | AM Best Rating |
| Shelter | $2,352 | $3,661 (est.) | A (Excellent) |
| Electric | $3,102 | Not Available | Not Scored |
| Encompass (Allstate-Owned) | $3,042 | $2,435 | A+ (Superior) |
Key Takeaways
- Shelter stands out for its high customer satisfaction, extensive coverage options, and financial stability.
- It may not be the cheapest option, but it offers strong coverage and perks.
- Limited availability remains a downside, but it’s a solid choice for those in its service areas.
Final Verdict: Is Shelter Insurance Right for You?
Shelter Insurance is an excellent choice for policyholders who prioritize customer service and robust coverage options. However, it may not be the best option for those seeking the lowest rates or availability across all 50 states. If Shelter is available in your area, it’s worth considering, especially if you bundle policies for discounts.
For those outside Shelter’s service area or seeking lower rates, alternative insurers like Geico, USAA, or Erie may be better options.
Pro Tip: Always compare quotes from multiple providers to ensure you’re getting the best deal tailored to your unique profile.
Want to know more about other insurances, Read our latest articles.
