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Shelter Insurance Review

Updated Nov 15, 2022
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Customers praise Shelter Insurance for its easy online process and efficient claims handling. Shelter only sells coverage in 15 states, however, and its average auto and home insurance premiums are higher than the national averages.

Pros

  • Fewer than average complaints filed with the National Association of Insurance Commissioners (NAIC)
  • Financial strength rating of A (Excellent) from AM Best
  • Wide range of coverage options

Cons

  • Only available in 15 states
  • Higher than average premiums
  • Mobile app lacks policy management tools
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The Shelter Insurance Company started as a division of the Missouri Farmers Association (MFA) in 1946. Shelter later split from MFA in the 1980s to expand its life insurance policyholder base. By 2002, the company had over one million vehicles insured. Shelter Insurance reviews from customers praise the company for its easy online process and how efficiently Shelter insurance claims are handled.

Shelter is based in Missouri and issues insurance policies in Arkansas, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Nevada, Ohio, Oklahoma and Tennessee. Policyholders may be drawn in by the wide range of product lines and coverage types, along with Shelter’s high financial strength rating and fewer than average complaints with the NAIC.

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Shelter car insurance

Shelter car insurance is unique in that liability coverage, roadside assistance and new car replacement are included in every policy. Meanwhile, the following coverage types are optional: collision, comprehensive, medical payments, personal injury protection (no fault), uninsured motorist, underinsured motorist, rental reimbursement, disability income, gap insurance and loss of use. This company may be a good option for policyholders who want roadside assistance and new car replacement included.

Shelter car insurance is sold through a network of local agents. Although the company typically has higher than average rates, it offers a wide range of discounts to help policyholders save money. Shelter is unrated by J.D. Power and S&P, but it received a financial strength rating of A (Excellent) from AM Best, and fewer than average Shelter complaints were filed with the NAIC. The company may also be a good choice for policyholders who want to manage their policies online and view policy information on a mobile app.

Shelter car insurance cost

The national average cost of car insurance is $1,674 per year for full coverage, whereas Shelter is more expensive on average at $2,196 per year for the same coverage. Shelter is also pricier when it comes to minimum coverage. The average annual cost of minimum coverage insurance nationally is $565, whereas Shelter’s average cost of minimum coverage is $704.

These averages may be helpful for the sake of comparison. However, keep in mind that your individual car insurance rates will likely be different, since car insurance rates are based on your personal characteristics such as vehicle type, driving record and claims history.

Shelter’s full coverage annual rates National full coverage annual rates
Clean driving history $2,196 $1,674
Speeding ticket conviction $2,666 $2,062
Adding a 16-year-old driver* $2,680 $2,531
At-fault accident $3,384 $2,311

*16-year-old rates reflect the added cost to their parents’ full coverage car insurance policy.

Shelter car insurance discounts

If you’re wondering how to lower your car insurance premiums, Shelter advertises 13 car insurance discounts on its website.

Shelter home insurance

Shelter home insurance may be a good choice for homeowners looking for standard coverage types, mobile home insurance, condo insurance, landlords and personal articles insurance. The company’s average premiums are higher than the national average. However, Shelter offers a few discounts to help policyholders save.

Our team awarded Shelter an overall Bankrate Score of 4.0 out of 5 possible points. This score reflects Shelter’s high AM Best score for financial strength, fewer than average complaints from the NAIC and wide range of home insurance coverage options. However, Shelter lost a point for its high premiums and limited availability.

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Shelter home insurance cost

Shelter home insurance costs $1,880 for $250,000 in dwelling coverage, significantly more than the national average cost of home insurance, which is $1,312 per year for the same coverage. The rates below may be helpful for the sake of comparison. However, your actual rates will be based on your individual characteristics, such as the coverage types you choose and your claims history.

Dwelling coverage limit Shelter’s average annual premium National average annual premium
$150,000 $1,243 $898
$250,000 $1,880 $1,312
$350,000 $2,593 $1,723
$450,000 $3,309 $2,148

Shelter home insurance discounts

Shelter’s advertises a few home insurance discounts to help you save on your premium. These discounts include:

Shelter life insurance

Shelter life insurance offers term life and permanent life insurance, as well as life insurance for children. The company’s permanent life insurance options include several types of whole life insurance and one type of universal life insurance. The company also offers several endorsements that could help you personalize your policy. If you’re looking for a life insurance provider with several policy options and life insurance for children, you may want to consider a quote from Shelter.

 

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Shelter life insurance endorsements

Policyholders have the option to add Shelter life insurance endorsements to their policies for added personalization. These endorsements include:

Other Shelter perks worth considering

Shelter offers a plethora of perks, including:

  • Learning center: Shelter’s learning center features explanatory insurance articles, safety tips, life planning tools and a video hub. It also features exclusive recipes, which the company claims are a hit with its policyholders.
  • Umbrella insurance: Shelter’s umbrella insurance is designed to financially protect you in situations like a lawsuit, where you are found liable.
  • Farm insurance: Shelter offers coverage options designed to financially protect farm owners.

Shelter corporate sustainability

Shelter’s nonprofit arm, Shelter Insurance Foundation, sponsors a range of scholarships throughout its operating region. It also helps raise money for the Heart of Missouri United Way every year. Over the years, Shelter has donated funds to veterans, Ronald McDonald house and food banks.

In terms of diversity, Shelter operates through a Principles of Community statement meant to promote inclusivity. The company also encourages employees to participate in internal support networks such as the Multicultural Group (MCG) and the Shelter Women’s Advocacy Group (SWAG).

Not sure if Shelter is right for you? Consider these alternatives

Shelter likely won’t be the right choice for everyone. If it’s not right for you, this list of car insurance providers may help you make another choice:

  • First Chicago Insurance Company: If you’re an artisan contractor, First Chicago Insurance has specialized coverage for you. The company also offers personal and commercial auto insurance.
  • Electric Insurance: If Shelter’s limited availability is an issue, you may want to check out Electric Insurance, which writes policies in all 50 states and Puerto Rico.
  • Encompass: Encompass offers a staggering number of discounts. If you’re looking for ways to lower your premium, you may want to look into Encompass.

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 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

Auto

  • $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 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

Age: Rates were calculated by evaluating our base profile with the age 16 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Hawaii rates indicate age is not a contributing factor.

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.

Homeowners

  • Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000
  • Coverage E, Liability: $300,000
  • 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.

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