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Alfa insurance review 2024

Updated Feb 16, 2024

At a glance

3.5
Rating: 3.5 stars out of 5
Bankrate Score
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Auto

Rating: 3.9 stars out of 5

3.9

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Cost & ratings

Rating: 4.3 stars out of 5

4.3

Coverage

Rating: 4 stars out of 5

4.0

Support

Rating: 4.2 stars out of 5

4.2

Home

Rating: 3.1 stars out of 5

3.1

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Cost & ratings

Rating: 3.7 stars out of 5

3.7

Coverage

Rating: 4.3 stars out of 5

4.3

Support

Rating: 4.3 stars out of 5

4.3

About Bankrate Score

Bankrate's take

Policyholders who live in Alabama, Georgia or Mississippi and value a company with a firsthand understanding of local insurance risk might consider Alfa as their company of choice.

Who Alfa may be good for: Alabama, Georgia and Mississippi residents who want an insurer who is focused on local issues and understands the unique needs in the area.

 

Who Alfa may not be good for: People looking for the lowest cost insurance.

Answer a few questions to see personalized rates from top carriers
 

Alfa car insurance

Alfa car insurance may be a good option for drivers in Alabama, Georgia and Mississippi who want standard coverage options, a range of discounts and a mobile app with policy management tools. Its 4.2 Bankrate Score out of a possible 5 points indicates that it offers appealing policies and service. 

Alfa offers standard auto coverage types, including uninsured motorist coverage and underinsured motorist coverage. In terms of endorsements, Alfa only offers accidental death and dismemberment, accident forgiveness (in Alabama and Mississippi) and roadside assistance, so it may not be the best carrier for drivers looking for policy customization.

Pros and cons of Alfa car insurance

When comparing car insurance providers to find the best company for you, it may be helpful to weigh the pros and cons of each company. Here are some of the biggest pros and cons we identified while analyzing Alfa’s auto insurance offerings:

Pros
  • Many discounts for potential policy savings

  • Online quotes available

  • Rated above average for customer satisfaction

Cons
  • Very limited coverage area

  • Does not offer many endorsements

  • Annual membership required for Alabama residents

Alfa car insurance cost

The average full coverage auto policy with Alfa costs $2,900 per year, based on rates provided by Quadrant Information Services. The average minimum coverage policy with the carrier costs $628 per year. Comparatively, the national average cost of car insurance is $2,542 per year for full coverage and $740 per year for minimum coverage.

This makes Alfa less expensive than the national average auto insurance policy. It also tends to have lower rates than the averages for Alabama, Georgia and Mississippi. Keep in mind that these are averages. Factors like ZIP code, vehicle type and claims history may all contribute to a driver’s car insurance premium.

Alfa car insurance rates by driving history

A history of at-fault accidents or traffic violations will likely impact your premium. To illustrate how car insurance rates may change based on driving record, we analyzed Quadrant data to compare quotes from Alfa for drivers with a clean driving history, one speeding ticket and one at-fault accident.

Not all insurers offer insurance to people with a DUI conviction. If you’re shopping for insurance and have been convicted of a DUI in the past, reach out to an insurance agent for help finding a policy.

Alfa full coverage premium National full coverage premium
Clean driving history $2,900 $2,542
Speeding ticket conviction $3,640 $3,069
At-fault accident $4,302 $3,577
DUI conviction $3,782 $4,790

*All rates displayed are average annual rates.

Alfa car insurance quotes by age

Car insurance rates may vary based on age. In most cases, young drivers pay the highest rates for car insurance due to their lack of experience on the road. If you are a parent and add a teen driver to your policy, your rates will likely increase. In the table below, you can see Alfa’s average rates for drivers in various age groups. These quotes are for a driver with a clean driving history.

Average cost of car insurance for drivers on their parents’ policy
Alfa full coverage premium National full coverage premium
Age 16 $8,956 $5,469
Age 17 $7,929 $5,114
Age 18 $7,260 $4,797
Age 19 $6,613 $4,197
Age 20 $5,443 $3,962

*All rates displayed are average annual rates.

Average cost of car insurance for drivers on their own policy 
Alfa full coverage premium National full coverage premium
Age 18 $7,679 $2,362
Age 25 $3,557 $3,134
Age 30 $3,426 $2,693
Age 40 $2,900 $2,542
Age 60 $2,330 $2,302

*All rates displayed are average annual rates.

Alfa car insurance discounts

Alfa offers a wide selection of car insurance discounts which may help you get a lower premium. However, the discounts Alfa offers may vary by state. Here are some of the unique savings opportunities Alfa advertises:

  • Umbrella discount: Policyholders who also have a qualifying commercial, personal or farm umbrella policy could receive a discount on their auto insurance.
  • Life insurance policy discount: Policyholders who also hold an Alfa life insurance policy may receive a discount on their auto insurance policy.
  • Occupational discount: Alfa offers occupational discounts to qualifying educators, military and first responders, state or federal employees and auto manufacturers.
  • Multi-car discount: Discounts may be available for policyholders who insure two or more private passenger vehicles on a single Alfa policy.
  • Homeownership: If you own a home you can get a discount on your policy, even if you’re not getting home insurance from Alfa.
  • Youth honor student: Full-time students with a GPA of 3.0 or higher can get a lower insurance rate.
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Alfa home insurance

With a Bankrate Score of 4.0 out of 5, Alfa home insurance may be a good option for homeowners looking for standard coverage types and a selection of endorsements. The company earned points for its wide variety of endorsements and limited consumer complaints, but lost points due to limited coverage availability and third party customer satisfaction data.

As Alfa's coverage is focused on the Southeast, the company’s familiarity with regional weather threats may be beneficial. For instance, Alfa offers a discount for qualifying residents of Alabama and Mississippi if their homes are fortified against hurricanes and windstorms.

In addition to standard dwelling and personal property structure, Alfa offers the following optional coverage types: home sharing coverage, personal property replacement cost coverage, home systems protection and scheduled personal property coverage. The company also offers insurance for condominiums, renters, churches and farms.

Pros and cons of Alfa home insurance

Below, you can see some of the most notable advantages and drawbacks of Alfa’s home insurance offerings:

Pros
  • Several endorsements available

  • Potential discounts tailored to regional weather patterns

  • Some helpful blog resources for buying home insurance

Cons
  • Few discounts available compared to some other carriers

  • Not available outside of Alabama, Mississippi and Georgia

  • Online quoting is not available for home insurance

Alfa home insurance cost

The average Alfa home insurance policy costs $1,407 per year for $250K in dwelling coverage, according to Bankrate’s research. Compared to the average cost of homeowners insurance in the U.S, which is $1,687 per year for $250K in dwelling coverage, Alfa customers pay slightly less, though Alfa gets more pricey than the competition when you want to insure homes worth $350,000 or more.

However, the price of your homeowners insurance may depend on several factors, including the coverage types you choose, the age of your home and your credit-based insurance score. The average rates below may be helpful for the comparison, although your individual rates will likely vary.

Dwelling coverage limit Alfa average premium National average premium
$150,000 $947 $1,146
$250,000 $1,407 $1,687
$350,000 $1,890 $2,232
$450,000 $2,456 $2,785
$750,000 $4,113 $4,457

*All rates displayed are average annual rates.

Alfa home insurance discounts

Alfa offers a few home insurance discounts that could help you get a lower premium. However, some discounts are only available in select states. Here are the home insurance discounts advertised by Alfa Insurance:

  • Policy bundling: Alfa may provide a discount to customers who purchase home and auto insurance policies with the carrier.
  • Legacy customer: If your parent has an Alfa insurance policy, you may qualify for a discount on a home or renters insurance policy.
  • Safety equipment: If your home is equipped with safety features, like burglar alarms, fire or smoke alarms, or a deadbolt lock, you could qualify for savings.
  • Hurricane resistant materials: Some customers in Alabama and Mississippi may qualify for a discount if their home is fortified against hurricanes.
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
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Quick Facts
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
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100% of homes
need insurance before getting a mortgage
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Alfa life insurance

Based on our review, Alfa offers both term and permanent life insurance policies with some unique options that make it an appealing choice for some insurance buyers. The company has a variety of policy options within these categories, including no-medical-exam policies, an interest sensitive plan and a final expenses burial insurance plan.

Some of the less common coverage options include a return of premium term life policy, which may allow you to recoup a portion of your premiums if you outlive the term. Rapid issue policies let you get a policy in a much shorter amount of time than typical, though the maximum benefit is just $25,000. 

You can also purchase Alfa life insurance for children up to 14 years old through the company’s First Step Life program.

Pros and cons of Alfa life insurance

Below, you can see some of the pros and cons we identified with Alfa life insurance:

Pros
  • No-medical-exam policies available

  • Online quotes available for term life insurance

  • Several riders offered

Cons
  • No online quotes for permanent life policies

  • No life insurance coverage calculator

  • Seniors may find better options elsewhere

Alfa life insurance endorsements

Life insurance endorsements, also called life insurance riders, are optional policies that allow you to personalize your coverage. 

Alfa offers a selection of endorsements, including:

If you pass away and your death is caused by a qualifying accident, your beneficiary may receive a secondary death benefit.
This rider provides life insurance coverage for each of your children until age 25. When the child turns 25, they have the option to convert the rider into an individual permanent policy with up to five times the rider coverage amount.
This rider prevents your child’s life insurance policy from getting canceled before the child turns 25 if you pass away or become disabled.
This rider provides level-term coverage for a spouse up to age 65. When the rider expires, it can be converted to a permanent policy.
If you become totally disabled, you won’t have to pay your premiums for the duration of the disability.
This allows you to pay your premiums on your preferred schedule. Options include monthly, quarterly, semi-annually or annually.
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Compare Alfa with other insurers

Alfa has a limited service area of just three states, so you’ll need to look elsewhere if you don’t live in Alabama, Georgia, or Mississippi. Even if you do, it’s worth comparing multiple options to look for the best deal. If you’re looking for an insurance policy, consider these alternatives.

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Alfa

Item
Rating: 4.1 stars out of 5
4.1
Info
Read review Read Bankrate's full Alfa Insurance review
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State Farm

Item
Rating: 4.3 stars out of 5
4.3
Info
Read review Read Bankrate's full State Farm Insurance review
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Geico

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Rating: 4.4 stars out of 5
4.4
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Farmers

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Rating: 3.7 stars out of 5
3.7
Info
Read review Read Bankrate's full Farmers Insurance review
Overview
Overview
Overview
Overview
Policyholders who live in Alabama, Georgia or Mississippi and value a company with a firsthand understanding of local insurance risk might consider Alfa as their company of choice.
Policyholders who value a personalized experience through a local agent, bundling insurance policies with the same company and highly rated customer service might consider State Farm as their company of choice. State Farm holds the 2024 Bankrate Award for Best Term Life Insurer.
Policyholders who value cheaper car insurance and digital capabilities over bundling multiple insurance policies with the same company might consider Geico as their company of choice. Geico tied for the 2024 Bankrate award for Best Auto Insurance Company Overall.
Policyholders who value customized car and home insurance and robust coverage options, like life, pet or commercial insurance, might consider Farmers as their company of choice.
Avg. full coverage auto rate
Avg. full coverage auto rate
Avg. full coverage auto rate
Avg. full coverage auto rate
$2,900
$2,244
$1,732
$2,668
Avg. home rate for $250k dwelling coverage
Avg. home rate for $250k dwelling coverage
Avg. home rate for $250k dwelling coverage
Avg. home rate for $250k dwelling coverage
$1,407
$1,405
No rates available
$1,967
J.D. Power Digital Experience Study - Service
J.D. Power Digital Experience Study - Service
J.D. Power Digital Experience Study - Service
J.D. Power Digital Experience Study - Service
Not scored
714/1,000
731/1,000
689/1,000
J.D. Power Digital Experience Study - Shopping
J.D. Power Digital Experience Study - Shopping
J.D. Power Digital Experience Study - Shopping
J.D. Power Digital Experience Study - Shopping
Not scored
532/1,000
502/1,000
547/1,000
AM Best rating
AM Best rating
AM Best rating
AM Best rating
A (Excellent)
A+ (Superior)
A++ (Superior)
A (Excellent)

Is Alfa Insurance a good insurance company?

Based on our insurance review, Alfa Insurance may be a good option if you live in one of the three states where the majority of coverage types are available. Alfa offers a good selection of coverage types, and many policies come with multiple endorsements and discounts. 

It’s easy to get an auto or life insurance quote online and contact a customer service agent, either through phone or live chat. However, keep in mind that Alfa doesn’t offer as many online tools as some other insurers, and you’ll likely have to change insurers if you move out of its coverage area.

Alfa customer satisfaction

Researching third-party ratings for customer satisfaction, claim satisfaction and company complaints may help you choose the best insurance company for your needs. Some of the most reputable organizations that rate insurance companies are J.D. Power and the National Association of Insurance Commissioners (NAIC). Alfa was not rated in J.D. Power’s U.S. Auto Claims Satisfaction Study.

Study or Rating agency Alfa Industry average
2023 J.D. Power Digital Experience Study - Service Not scored 702/1,000
2023 J.D. Power Digital Experience Study - Shopping Not scored 521/1,000
AM Best rating A (Excellent) N/A

Alfa customer complaints

The National Association of Insurance Commissioners (NAIC) tracks consumer complaints about insurance providers and uses that information to create a complaint index that it publishes to consumers. An index of 1 means that a company receives about as many complaints as expected given its market share. An index under 1 indicates fewer complaints than expected while an index over 1 indicates more complaints.

In the NAIC Complaint Index, Alfa has fewer complaints than expected for private passenger auto insurance based on its market share. Alfa’s complaint index is 0, which indicates no complaints.

Alfa has a near-baseline number of complaints for home insurance, according to the NAIC Complaint Index. Alfa’s complaint index for home insurance is 0.99, which is just barely under the industry index of 1.00.

Other Alfa tools and benefits

Alfa offers a variety of tools that its customers can use to make buying insurance easier, as well as some perks and additional coverage options.

Some of these benefits include:

  • Mobile app: Alfa’s highly rated mobile app allows customers to virtually view policy information, file claims, connect with an agent and pay their bill.
  • Personal umbrella insurance: This coverage option may help protect you against the financial burden of a lawsuit by adding additional liability protection to back up your homeowners and auto insurance policies.
  • Farm insurance: Alfa offers property, liability and optional coverage types for farmers in eligible states.
  • Farmer discounts: Alabama residents who become members of the Alabama Farmers Federation may get a discount on policies.
  • Church insurance: This policy is designed to cover your place of worship.
  • Watercraft insurance: This coverage pays out for covered losses to your recreational watercraft and is written on an actual cash-value.
  • Educational materials: You can read Alfa’s home insurance blog to learn how to protect your home from various dangers.

Frequently asked questions about Alfa Insurance

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Written by
TJ Porter
Contributor, Personal Finance

TJ Porter is a contributing writer for Bankrate with eight years of experience writing about finance.  TJ writes about a range of subjects, from budgeting tips to bank account reviews.

Edited by Editor, Insurance