MAPFRE Insurance Review 2022: Home & Car

Bankrate Logo

Why you can trust Bankrate

While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for . This content is powered by HomeInsurance.com (NPN: 8781838). For more information, please see our

MAPFRE Insurance was founded in 1972 in Webster, Massachusetts, but has since expanded to provide insurance in 19 U.S. states. In 2007, it was acquired by MAPFRE Group, an international insurer based in Spain and one of the leading insurance companies in Europe and Latin America.

In the U.S. market, MAPFRE Insurance offers a wide variety of insurance policies, with home and auto insurance as its core products. For those who want the convenience of having all of their insurance needs in the same place, MAPFRE could be one company to consider. If you are in the market for car insurance or homeowners insurance, keep reading to see our MAPFRE Insurance review.

  • Date established: 1972
  • Insurance products offered: Auto, property and umbrella insurance
  • AM Best financial strength rating: A (Excellent)
  • NAIC complaint index: 9.27 (above the national baseline of 1.0)
  • Availability: 14 states
Pros Cons
Wide variety of insurance products, meaning customers have the option of having all their insurance needs met in one place High NAIC score indicates MAPFRE has more complaints than is considered standard
Many unique coverage options for personalized homeowners insurance Only available in certain states

MAPFRE car insurance

MAPFRE car insurance is fairly robust, offering a handful of add-on coverage options. It may be ideal for drivers who want flexibility to personalize their car insurance for their needs and the reassurance that they have access to MAPFRE’s vehicle repair network in the event of an accident. Named the CAR EZ program, it helps drivers schedule a prioritized repair with an auto body shop and coordinate a rental car pickup after a covered accident. MAPFRE offers guaranteed service coverage for the lifetime of the vehicle and the service technicians will even wash the car before it is returned to the owner.

Types of coverage

MAPFRE offers minimum and full coverage car insurance, including options like liability, comprehensive, collision, uninsured/underinsured motorist and medical payments like many other car insurance companies. In addition to these, MAPFRE offers some even more unique coverage options:

MAPFRE

  • AutoMaster Package: This endorsement includes new car replacement coverage, cell phone replacement coverage, a collision deductible waiver, personal belongings coverage and glass coverage.
  • Towing and labor coverage: Towing and labor coverage would cover the cost of towing if the vehicle breaks down on the road.
  • Substitute transportation: After a covered accident, MAPFRE will cover the cost of a rental car while the damaged vehicle is being repaired or while insured is looking for a new car.

Discounts

Drivers who want to save money on their premium can benefit from many of MAPFRE’s many auto insurance discounts, including common ones like paid-in-full discount, multi-car discount and a multiple policy discount if bundling more than one policy at MAPFRE. One other unique discount includes:

  • Clean in three discount: This discount may be applied if the driver has been licensed for three years and there have been no at-fault or traffic violations during the three years of the policy effective date.

MAPFRE’s auto insurance also has an accident forgiveness and disappearing deductible option. This can be added to the car insurance policy for no extra cost and provides a credit towards the deductible for each year without accidents, up to a maximum of $300. Every year for the first four years, you can earn $50 in deductible credits, with the fifth year earning $100.

MAPFRE home insurance

Some of the best homeowners insurance companies offer a variety of options for homeowners to personalize their homeowners insurance policy. MAPFRE’s homeowners insurance also does this, providing numerous add-on coverage options, including specialized policies for antique and high-value homes, to ensure homeowners can create a policy that caters to their needs.

Types of coverage

MAPFRE Insurance offers standard homeowners insurance coverage, plus some add-on coverage options for homeowners who want extra protection. Here are some of the home insurance coverage types available:

  • Select Home Restoration Program: This program helps homeowners get expedited repairs with guaranteed coverage. Homeowners can get emergency home repairs within two hours and same-day contact for scheduling major structural repairs. Partners in the Select Home Restoration Program can address issues like smoke/fire damage, water damage, mold and asbestos removal, storm clean up and more.
  • Credit card/fraud coverage: This coverage pays toward unauthorized credit card transactions and includes fraud protection.
  • Scheduled personal property coverage: Scheduled personal property coverage offers higher coverage limits for valuables, like art or jewelry.

Discounts

One of the ways to save on homeowners insurance is through discounts. While MAPFRE no longer lists its discounts on its website, some of the common discounts that other insurance providers have are:

  • New home discount: Depending on the year that the home was built, your homeowners insurance policy could qualify for a discount.
  • Security system discount: If you have a security system installed that meets the insurance company’s requirements, this discount could be added to your policy.

MAPFRE ratings, reviews, customer satisfaction and complaints

In the 2021 J.D. Power U.S. Auto Insurance Study, MAPFRE Insurance was rated 812/1,000 for overall customer satisfaction in the New England region. On the list of 12 ranked insurance companies, MAPFRE ranked eighth. MAPFRE home insurance offering is not rated by J.D. Power.

MAPFRE Insurance has an A (Excellent) rating from AM Best as well as an A (Strong) Standard and Poor’s (S&P), indicating excellent financial strength. That means the company has historically had enough money to repay policyholders after a loss. Unfortunately, MAPFRE Insurance has higher than average customer complaints as reported in the National Association of Insurance Commissioners’ (NAIC) Company Complaint Index.

Reasons why MAPFRE is a good option

Overall, MAPFRE Insurance offers many coverages to consider with both its homeowners and auto insurance. For both products, the company offers a variety of coverage options, good discounts and some unique programs, like the Select Home Restoration Program. Additionally, MAPFRE has a strong financial history.

However, there are also several downsides to consider with MAPFRE Insurance. First, the coverage area is very small. MAPFRE only writes insurance in 14 states. Another thing to consider is that MAPFRE has a high number of customer complaints, as reported by the NAIC. Individuals who are looking for a company with great customer service may want to consider multiple carrier options.

Additional policies offered by MAPFRE

In addition to home and auto insurance, MAPFRE also sells the following insurance policies:

  • Travel insurance
  • Business insurance
  • Umbrella insurance
  • Motorcycle insurance
  • Boat insurance
  • Recreational vehicle insurance

Frequently asked questions

What is the best auto insurance company?

There are many auto insurance companies on the market, but the best car insurance companies tend to have multiple options for personalizing coverage, strong financial backing and good customer service. Depending on your needs — for example, if you have more than one vehicle, are a young driver or average a low annual mileage — some may be better for you than others.

What is the best home insurance company?

The best homeowners insurance companies offer affordable policies, personalized coverage, good discounts, online tools and efficient claims handling. Each homeowners insurance company offers unique advantages and drawbacks, but knowing what your priorities and needs are will help guide you to the best homeowners insurance company for you.

Where is MAPFRE Insurance available?

MAPFRE Insurance is currently available in 14 states.

How do I get a quote from MAPFRE?

Prospective customers can use MAPFRE’s online quote tool to get an instant rate quote for homeowners or auto insurance. You will be asked to submit personal information, like your address and contact information, as well as information about your home or vehicle.