Commonwealth Casualty Insurance review 2021

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Founded in 2010, the Commonwealth Casualty Company is a relative newcomer in the insurance industry. Commonwealth is headquartered in Phoenix, Arizona, and provides car, home, renters and rideshare insurance through insurance agents nationwide. Commonwealth car insurance may be the most popular product the carrier offers.

Commonwealth car insurance

Commonwealth car insurance is a great fit for drivers in the Southwest who prefer to work with a smaller, regional carrier over one of the top national insurers. You should find the level of coverage you need. The Commonwealth Insurance Company provides minimum liability coverage for drivers on a budget and expands into other types of coverage.

Types of coverage

  • Liability: Bodily injury and property damage liability pays for damages you cause to others when you’re at fault.
  • Medical payments: This pays for the medical bills of all passengers in your vehicle, including you, as well as your expenses if you’re hurt as a pedestrian.
  • Uninsured/underinsured motorist: This covers the cost of your damages and injuries if the person that caused them doesn’t have enough insurance (or none at all).
  • Comprehensive: This type of insurance expands on the coverages to others of liability insurance by adding coverage for your vehicle because of vandalism, fire, theft or weather conditions.
  • Collision: This pays for repairs or replacement of your vehicle if it’s damaged in an accident.
  • Rideshare insurance: If you have a side hustle as a Lyft or Uber driver, your personal insurance policy doesn’t cover your time on the clock. Rideshare coverage steps in to protect you while you’re working as a driver.
  • Safety equipment: This pays for glass replacement or repair for the windshield, taillights or headlights without a deductible required.
  • Rental reimbursement: This pays $20 to $30 per day for up to a month towards a rental vehicle while your car is in the shop for an insurance-related claim.

Discounts

  • Vanishing deductible: You’ll earn savings when you avoid accidents and claims. Commonwealth Insurance will reduce your deductible by $100 every year without a claim, up to $500.
  • Multi-policy discount: Bundle Commonwealth Insurance’s home or renters with car insurance and you’ll get a discount on both.

Commonwealth home insurance

Commonwealth Casualty’s renters and homeowners insurance provide the coverage you need to protect what may be your biggest investment.

Types of coverage

  • Homeowners: Protect your home’s structure and contents against perils such as hurricanes, fire, tornadoes, windstorms, hail and falling objects. Homeowners insurance also provides coverage against legal proceedings if someone is hurt in your home.
  • Renters: This reimburses you if your belongings are lost, damaged or stolen, as well as providing you with legal liability protection.
  • Golf carts: Optional coverage for damages you may cause to a golf cart.
  • Water back up protection: Optional coverage expands your homeowners insurance if your home or property suffers damage from water backups caused by a drain, sewer or overflow.
  • Service line coverage: Optional insurance that pays for repairs to your underground electrical, internet or communication wiring, or your plumbing pipes.
  • Computer coverage: Optional coverage for higher-value electronics such as video game systems, desktop or laptop computers and tablets.

Discounts

  • Multi-policy: Buy car and homeowners insurance together to save on both.
  • New home: Individuals purchasing a new build may be eligible for a lower premium.
  • Secured community or building discount: Homeowners who live behind gates or a monitored location could qualify for cheaper home insurance.
  • Protective device: Homes with equipment that could help prevent major damage, such as a home sprinkler system, fire alarm or burglar alarm qualify.
  • Claims-free discount: Each year you go without a claim, Commonwealth Casualty will lower your home insurance premiums.
  • Paid-in-full: Prepay for the full year of coverage.
  • Water leak detection: Smart home systems or devices that notify you if there’s a leak reduce the chances of widespread water damage and lower your home insurance.

Commonwealth ratings, reviews, customer satisfaction and complaints

The Commonwealth Casualty Company isn’t large enough to rank in larger studies, such as J.D. Power’s annual customer satisfaction study. However, the National Association of Insurance Commissioners’ data finds that Commonwealth Insurance ranks below average in customer complaints. Commonwealth’s index rating is 0.84%, lower than the national average of 1%.

Reasons why Commonwealth is a good option

Commonwealth Casualty is a good option for customers who prefer working one-on-one with their local insurance agent. Commonwealth insurance products are available from an extensive network of agents. The carrier isn’t as competitive when it comes to discount options as other carriers, but good drivers with a low claim history should be pleased with the cost of coverage.

Additional policies offered by Commonwealth

  • Roadside insurance

Frequently asked questions

How do I get a quote with Commonwealth Casualty?

When shopping for car or home insurance, comparing quotes from several carriers is the best way to ensure you’re getting the best price and features. The easiest way to get a quote from Commonwealth Insurance is by using the carrier’s online quote tool. You can also visit a local insurance agent for a more detailed, personalized estimate on how much you can expect to pay for your annual premium.

How long does it take to get paid for a claim from Commonwealth Insurance?

Commonwealth aims to deliver a fast turnaround when it comes to claims. After all, you’re inconvenienced enough as it is without a vehicle. Commonwealth works with local claims adjusters to create a more efficient process. According to Commonwealth, vehicle estimates are provided in an average of 24 hours. If your car is totaled in an accident, Commonwealth Casualty aims to get you back in a vehicle in 48 to 72 hours.

How much car insurance do I need?

Although most states have a minimum amount of liability insurance required to legally drive, it may not be enough. Liability insurance only pays for damages to others. If your car is stolen, damaged or totaled in an accident you’re responsible for, you’d have to pay for your own repairs or replacement. To avoid this situation, consider full car insurance, which expands on liability insurance by adding collision and comprehensive coverage.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance and business journalist who has been featured in Bankrate, Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and TheSimpleDollar.com. She regularly travels to Africa and the Middle East to consult with women’s NGOs about small business development and works with select startups and women-owned businesses to provide growth and visibility.