Cincinnati Insurance Company review 2021: Car, home and life

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The Cincinnati Insurance Company is an insurance provider located in Ohio that offers policies to customers in 45 states and sells insurance through a network of 1,740 independent insurance agencies. This insurance provider specializes in coverage for high-value homes, vehicles and expensive personal property.

Cincinnati car insurance:

Drivers who need to insure a classic car, antique car or high-end vehicle can get the protection they need through Cincinnati Insurance. The company offers a few add-on policies and a robust endorsement package that offers comprehensive coverage for expensive vehicles. Drivers can also lower their premium by taking advantage of common discounts.

Types of coverage

Cincinnati car insurance includes a handful of coverage options, including:

  • Basic coverage: Cincinnati Insurance sells collision, comprehensive, liability, medical payments and uninsured/underinsured motorist coverage.
  • Rental car coverage: Rental cars are covered under Cincinnati’s basic car insurance policies, with no deductible required.
  • Personal Auto Plus package: The provider’s most inclusive package includes airbag replacement coverage, safety restraint benefit coverage, transportation expenses coverage, roadside assistance, deductible waiver, supplementary payments coverage, trip interruption coverage, lock replacement coverage, child safety seat replacement coverage and a glass deductible waiver.
  • Replacement cost plus coverage: Replacement cost plus coverage will pay for a new car if the driver’s old vehicle is totaled or the remaining loan balance on a leased or financed vehicle.
  • Gap insurance: After an accident, gap insurance pays for the difference between the car’s value and the unpaid balance on the lease or loan agreement.

Cost of Cincinnati car insurance

Cincinnati car insurance policies are competitively priced. The average driver pays $1,402 for full coverage insurance annually and $391 for minimum coverage insurance, which is cheaper than the United States national average full coverage car insurance rate of $1,738.

Minimum Coverage Full Coverage
$391 $1,402

However, keep in mind that every driver pays a different rate for their insurance policy. Insurance companies look at factors like ZIP code, age, credit score, claims history and car type when calculating a policyholder’s premium.

Discounts

The Cincinnati Insurance Company gives drivers a few ways to save money on their car insurance policy. The discounts available include:

  • Accident-free discount
  • Multi-policy discount
  • Smart student discount
  • Multi-vehicle discount

Cincinnati home insurance

Cincinnati Insurance offers three tiers for home insurance coverage. The Executive Homeowner Policy protects homes of any value. The Executive Capstone™ Policy covers homes with a reconstruction value of $1 million or more, and the Executive Classic™ Policy covers homes with a reconstruction value of $500,000 or more. Cincinnati Insurance also offers a limited number of discounts to help homeowners save money on their policy.

Types of coverage:

Cincinnati Insurance offers dozens of coverage types, many of which are unique to the company, including:

  • Executive Homeowner Policy: Comes with basic coverage, including dwelling, personal property, liability, medical payments and loss of use coverage.
  • Executive Capstone™ Policy: Comes with basic coverage, plus sump pump failure coverage, water damage coverage, golf cart coverage, wildfire protection coverage and kidnap/random expense coverage for family members. Add-on policies include assisted living care, equipment breakdown coverage, large loss deductible, preferred flood insurance and much more.
  • Executive Classic™ Policy: Comes with basic coverage, water damage coverage, replacement cost coverage, identity theft coverage, personal articles coverage, scheduled personal property coverage, flood insurance and more.

Discounts:

Cincinnati car insurance only offers a few discounts, which include:

  • Multi-policy discount
  • New home discount
  • Alarm system discount
  • Claims-free discount

Cincinnati life insurance:

Cincinnati Insurance offers several different life insurance policies. Overall, the life insurance offerings are fairly basic and are comparable to what other insurance companies offer. Additionally, there are only two riders available for policyholders who want extra coverage.

Types of coverage:

The Cincinnati Insurance company offers three life insurance policies:

  • Term life insurance: There are two types of term life insurance available—Termsetter and Termsetter ROP. The Termsetter policy has a guaranteed death benefit and level premiums for 10, 15, 20, 25 or 30 years. The Termsetter ROP policy has a guaranteed death benefit and is available for 20, 25 or 30 years. With Termsetter ROP, the base premium is given back to the policyholder at the end of the term if they are still living.
  • Whole life insurance: Cincinnati Insurance’s guaranteed whole life policies provide lifetime coverage and include level premiums, guaranteed cash value, guaranteed insurability and guaranteed paid-up values for each policy year.
  • Universal life insurance: Universal life insurance has flexible death benefits and premiums and has a cash value component that grows tax-deferred. Cincinnati Insurance offers three universal life policies—Heritage UL for adults 18 and older, Pivot UL for children and Flex UL, which includes a guaranteed death benefit with lower premiums and limited cash accumulation.

Riders or Endorsements

Cincinnati Insurance only offers two riders or endorsements for its life insurance policies:

  • Accelerated death benefit rider
  • Children’s term rider

Reasons why Cincinnati is a great option:

Cincinnati Insurance is a great option for home and auto insurance, especially for high-income individuals. The Executive Capstone™ Policy for homes valued at more than $1 million comes with tons of coverage options, plus several unique policies that homeowners will not find elsewhere. Similarly, the Personal Auto Plus package is a robust car insurance package that will be more than suitable for most drivers.

On the other hand, Cincinnati’s life insurance offering is not quite as impressive. There are several policies to choose from, but the coverage is fairly basic. On top of that, there are only two riders available, which is underwhelming compared to other life insurance providers.

In terms of price, Cincinnati Insurance’s car insurance policy rates are below average. However, it is not clear how much it costs to add endorsements, like the Personal Auto Plus package. Cincinnati does not offer many discounts for any of its insurance products, which is something to keep in mind if the price is a concern.

Additional policies offered by Cincinnati

In addition to home, auto and life insurance, Cincinnati Insurance offers the following policies:

  • Collector car insurance
  • Umbrella insurance
  • Watercraft insurance
  • Business insurance
  • Rental dwelling insurance
  • Condo insurance
  • Renters insurance
  • Personal article insurance

Cincinnati ratings, reviews, customer satisfaction and complaints

Cincinnati Insurance has an A+ rating from AM Best, which indicates superior financial strength. The company is not rated by J.D. Power, but it has an A+ rating from the Better Business Bureau (BBB). The provider also has a below-average complaint index of .39 with the National Association of Insurance Commissioners (NAIC).

Frequently asked questions:

What is the best auto insurance company?

There are dozens of auto insurance companies on the market, so it can be difficult to determine which ones are the best. Based on our research, a few of the best car insurance companies are Amica, Erie, Nationwide, USAA, Geico and State Farm. It’s a good idea to shop around, compare rates and then speak with a licensed insurance professional before purchasing a policy.

What is the best home insurance company?

Finding the best home insurance company can be challenging. It takes careful research and comparison because the best home insurance company is different for everyone. We recommend checking out Lemonade, Chubb, Amica and MetLife to start.

What is the best life insurance company?

Everyone’s life insurance needs are different, and because of that, the best life insurance company will vary. However, some life insurance companies that consistently receive high ratings are MetLife, New York Life and Northwestern Mutual.

Methodology

Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a cleaning driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.

These are sample rates and should be used for comparative purposes only. Your quotes may be different.