Cincinnati Insurance review 2022
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At a glance
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Policyholders who value affordable insurance for high-value assets over robust coverage options might consider Cincinnati as their company of choice.
- Generally lower-than-average rates
- Strong financial strength ratings from AM Best
- Products sold by local independent agents
- Some products are not available in every state
- No J.D. Power customer satisfaction or claims satisfaction ratings
Cincinnati car insurance
Drivers who have more high-end lifestyles may particularly benefit from Cincinnati auto insurance, especially when the coverage is combined with other product lines. Auto insurance coverage is available in most states and Washington, D.C., but Cincinnati does not sell auto insurance in Alaska, Louisiana, Mississippi, Oklahoma or South Dakota. While the company isn’t on our list of best car insurance companies, it may be worth getting a quote to see how well its coverage fits your situation.
Cincinnati Insurance Company offers all the standard auto insurance coverage types common with most car insurance carriers, including liability, uninsured motorist coverage and underinsured motorist coverage, and both comprehensive and collision coverage options. Drivers looking for a coverage boost might be interested in the Personal Auto Plus endorsement, which adds numerous optional financial protections to your policy, including trip interruption coverage, air bag replacement and lock replacement — although the specifics of the endorsement vary by state.
Cincinnati car insurance cost
Based on Bankrate’s analysis of up-to-date premium information from Quadrant Information Services, drivers pay lower annual rates on average with Cincinnati Insurance than with many other insurers. The average cost of full coverage car insurance with Cincinnati is $1,472 per year, while minimum coverage costs an average of $438 per year. For comparison, the national average cost of car insurance is $1,674 per year for full coverage and $565 per year for minimum coverage. Your unique rating factors will impact how much you pay, and in some cases, Cincinnati’s average rate is higher than the national average.
The table below shows how Cincinnati’s average full coverage rates compare with the national average rates for several different driver scenarios.
|Cincinnati average annual full coverage premium||National average full coverage premium|
|Clean driving history||$1,472||$1,674|
|Adding a 16-year-old driver*||$2,647||$2,531|
Cincinnati car insurance discounts
Cincinnati Insurance car services
Cincinnati can insure more than just your personal vehicles. The carrier offers a few types of extended coverage, which include antique and collector car coverage and a replacement cost plus endorsement. The antique and collector car insurance endorsement can be added to your personal auto policy rather than having to take out a new policy for these vehicles, and doesn’t apply an age limitation (many carriers will only insure vehicles over 25 years old as collector cars). The replacement cost plus endorsement could help protect you from new-vehicle depreciation. With it, if your new vehicle is totaled from a covered incident, you’ll be able to replace the vehicle with a similar new vehicle or pay the remaining loan balance.
Cincinnati home insurance
While Cincinnati’s home insurance products for high-value homes really stand out for their unique features, the carrier insures homes of any value. Coverage is available in the same states as auto insurance. Homeowners have a few different programs to choose from, including the Executive package (for homes of any value), the Executive Classic package (for home values between $500,000 and $1 million), or the Executive Capstone package (for homes above $1 million). Each package comes with its own set of endorsements, but Cincinnati’s home policies commonly offer identity theft coverage, earthquake coverage and golf cart coverage. Package availability varies by state, but based on the carrier’s qualities and coverage options, Cincinnati may be one of the best home insurance companies for high-value homes.
Cincinnati home insurance cost
Nationally, home insurance costs an average of $1,312 per year for $250,000 in dwelling coverage. Cincinnati Insurance’s average annual premium for the same amount of coverage is 36% less at $843. Bankrate’s research into average rates shows that the cost of home insurance from Cincinnati is significantly lower across several dwelling limits, on average, compared to the national average.
|Dwelling coverage limit||Cincinnati average annual premium||National average annual premium|
Cincinnati home insurance discounts
Just like with auto insurance, Cincinnati doesn’t offer many home discounts for customers. However, you could save by bundling your auto and home policies, insuring a newer home, being claims-free or having a central alarm system installed. Discounts may vary by state, so talking with a local Cincinnati agent may be the best way to learn about your savings options.
Cincinnati Insurance home services
The Executive Capstone program is one of the most unique options for high-value policyholders. To qualify, you must have a home with a replacement cost value of $1 million or more. If you meet that requirement, the Executive Capstone program could help you protect your home and could also extend to your auto, collector cars, boat or yacht policy and your personal umbrella policy to add vital protection for your more complex financial protection needs.
In addition to home insurance, Cincinnati also offers coverage for renters and condo owners. Each policy type and program will have its own unique features and options. Talk with a Cincinnati agent to learn what selections might be best for you.
Cincinnati life insurance
Cincinnati offers three types of life insurance policies — term, whole and universal — to suit the financial considerations of potential policyholders. Although Cincinnati didn’t make Bankrate’s list of the best life insurance companies, you may still find that you can purchase the right type and level of life insurance coverage for your circumstances. Unlike auto and home insurance, Cincinnati offers life coverage in 49 states (except New York) and Washington, D.C.
Cincinnati Insurance life insurance endorsements
The endorsements or riders that are available to add to your Cincinnati life insurance policy will depend on the type of policy you buy, the state you live in and your eligibility qualifications. Cincinnati offers the following riders, among others, for its term and whole life policies:
- Accelerated benefit rider: If you are diagnosed with a terminal illness or are expected to reside in a nursing home or assisted living facility for the remainder of your life, you may be able to access some of your death benefit before you pass.
- Children’s term rider: This rider could allow you to add coverage for a qualifying child on your own policy, rather than buying separate life insurance for your child.
- Disability waiver of premium rider: If you’ve been disabled for four consecutive months, you may have your premium payment waived for the duration of your disability.
Riders vary based on the type of life policy you buy, so consulting with a Cincinnati independent agent is a good strategy to know what options are available.
Cincinnati Insurance life services
In addition to auto, home and life insurance, Cincinnati also offers a few different types of annuities, which could be a useful tool for your financial planning. The carrier also has a helpful blog that addresses life insurance and financial planning topics. For policyholders with high-value homes, antique cars or other expensive assets needing financial protection, this particular financial planning tool may be a nice addition to consider.
Other Cincinnati Insurance perks worth considering
Cincinnati offers numerous other lines of insurance, including:
- Business insurance
- Personal articles coverage
- Boat insurance
- Personal umbrella insurance
Although J.D. Power doesn’t rate Cincinnati for its auto or home claims service, the company does report favorable claims reviews from policyholders. Cincinnati assigns a field adjuster to each independent agency that sells its coverage. This means that your claim will be handled by this specifically-appointed adjuster and could foster greater communication between you, the adjuster and your agency. Cincinnati is also highly rated for financial strength by both AM Best and Standard & Poor’s (S&P). The carrier’s A+ financial strength ratings are a measure of past financial performance and could give you peace of mind knowing that the company has historically performed well and is more likely to expediently pay its claims when policyholders suffer a covered loss.
Cincinnati Insurance corporate sustainability
Cincinnati is a strong supporter of the communities where its employees work and live. The company consistently ranks among the top 25 campaign donors to the United Way of Greater Cincinnati. Other community initiatives include ArtsWave, which supports more than 100 arts and community initiatives in the Cincinnati area; Insuring the Children, which raises awareness of child abuse and neglect; and Crayons to Computers, which provides school supplies to 600 schools in the Cincinnati area. Cincinnati Insurance has also made a strong commitment to managing climate risk. As far as products offered, the carrier has insurance products specifically designed for social service and nonprofit groups.
Not sure if Cincinnati Insurance is right for you? Consider these alternatives
Naturally, not everyone’s insurance needs will be met by Cincinnati Insurance Company. If you are gathering quotes from multiple insurers, you might want to consider these carriers as well:
- Auto-Owners: Auto-Owners is a regional insurer only available in 26 states, but the carrier has a lower average annual full coverage auto premium than Cincinnati — $1,351 for Auto-Owners vs. $1,472 for Cincinnati. If you are looking for cheaper car insurance coverage that comes with a host of endorsements and discount options, Auto-Owners may be worth considering.
- Chubb: If you are considering Cincinnati specifically for high-value home coverage, you might want to get quotes from Chubb as well. Chubb’s average home insurance premium is much higher than Cincinnati’s, at $1,630 per year compared to Cincinnati’s $843 annual average, but you may find that Chubb offers different coverage options that could also suit your needs.
- Nationwide: Nationwide is a full-lines insurer that won two 2022 Bankrate Awards: one for high-value home insurance and the other for universal life insurance. If you need both luxury home insurance and a life insurance policy, Nationwide could be a good alternative to Cincinnati.
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following 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 coverage that meets each state’s requirements. Our sample drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and a single DUI conviction.
- Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
- Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
- Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
- Coverage E, Liability: $300,000, $500,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers and homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.
To determine how well the best car and home insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers and homeowners, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry, as well as 40-year-old male and female homeowners with $250,000 in dwelling coverage. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers and homeowners may compare each provider.
While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.