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Fred Loya Auto Insurance Review 2022

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Fred Loya Insurance offers a solution for car insurance to high-risk drivers who might find it difficult to buy insurance from standard car insurance companies. If one of its local agencies is available in your area, it could be a convenient and useful resource for your car insurance needs. However, Fred Loya’s high premium rates for auto insurance and a low customer service rating may make it a dealbreaker for some drivers.

Perks Drawbacks
Drivers considered high-risk because of prior incidents and citations may be able to find coverage with Fred Loya. Its high NAIC score indicates that Fred Loya receives four times as many complaints as expected in the market.
Insurance agents can be found in convenient locations, such as grocery store chains and shopping centers. Average premiums can be more expensive compared to standard auto insurance carriers.

Fred Loya doesn’t have any eligibility restrictions, but drivers without a clean driving record or who have a low credit score (if allowed to as a car insurance rating factor in their state) may benefit more from the company. Currently, Fred Loya has over 500 local agencies, but only within Alabama, Arizona, California, Colorado, Georgia, Indiana, Nevada, New Mexico and Texas.

 

Fred Loya car insurance | Bankrate Score 3.6

Fred Loya offers the same standard auto insurance coverage options as other car insurance carriers, including bodily injury and property damage liability, as well as collision and comprehensive coverage. It is unclear if Fred Loya offers any unique coverage options not commonly found with other car insurance companies, but in areas where they operate, local agencies can help answer these and any other questions.

Because of its limited coverage options and state availability, Fred Loya’s Bankrate Score is not as high as some of the best car insurance companies in our Scoring model, which is calculated on a 5.0 scale. Additional contributing factors include its high average premiums and poor customer service ratings, which may not make it an ideal choice for drivers prioritizing affordability and good customer service.

Fred Loya car insurance cost

Based on our study of the average cost of car insurance, drivers with Fred Loya car insurance pay an average $2,889 per year for full coverage and $449 per year for minimum coverage. Although Fred Loya’s average minimum coverage rates come in below the national average of $565, its average full coverage rates are higher than the national average of $1,674 per year. In fact, while researching rates for this Fred Loya insurance review, most of Fred Loya’s full coverage rates for a variety of car insurance scenarios are significantly more expensive than the national average rates.

Fred Loya average annual full coverage premium National average full coverage premium
Clean driving history $2,889 $1,674
Speeding ticket $2,863 $2,062
Adding a teen driver $7,747 $2,531
At-fault accident $3,430 $2,311

Fred Loya car insurance discounts

On its website, Fred Loya mentions that it offers discounts as a way to save money on car insurance, but does not disclose which specific discounts are available. Speaking to one of their agents about discount opportunities may be the best way to learn how to apply them to your car insurance policy.

Fred Loya car services

Fred Loya offers a Direct Repair Program (DRP) that connects policyholders with approved auto body shop partners. If chosen to repair damages as part of a covered claim, the vehicle’s repairs are guaranteed for as long as the driver owns or leases the vehicle. Drivers are also able to receive a rental car while their car is repaired, whether or not this coverage is included in their auto policy.

Other Fred Loya perks worth considering

Fred Loya’s only insurance product is car insurance. Its website and other company platforms don’t offer any information about additional products or services that drivers might be able to benefit from.

Fred Loya social responsibility

Fred Loya has not disclosed any information about its company’s philanthropic activities or charitable donations.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 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 clean 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 coverage that meets each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Written by
June Sham
Insurance Writer
June Sham is an insurance writer for Bankrate. Before joining the team, she worked for nearly three years as a licensed producer writing auto, property, umbrella and earthquake policies.
Edited by
Insurance Editor