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TruStage Insurance review 2022

Updated Aug. 23, 2022
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At a glance

3.9
Bankrate Score
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Auto

3.9

Home

3.9

TruStage Insurance offers an accessible solution for credit union members who want to handle their banking and insurance needs in one place. However, it’s not clear if there are unique benefits to being both a banking and insurance member.
Bankrate Score is based on Liberty Mutual. 

Pros

  • The carrier is a one-stop-shop if you’re already a credit union member and want to handle banking and insurance in one place.
  • Home and auto insurance is available through Liberty Mutual, a company that has been rated A (Excellent) by AM Best.
  • You can easily apply for life insurance online or over the phone without a medical exam.

Cons

  • It’s unclear whether unique savings opportunities on insurance are available by being a credit union member.
  • The maximum coverage for life insurance is generally low.
  • Additional research on each of TruStage’s partner companies may be required prior to purchasing insurance.
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TruStage does not underwrite or offer its own insurance policies. Instead, it is an agency service offering insurance products, like auto, property and life insurance, through partnerships with other insurance companies. Credit union members can initiate the insurance buying process online on TruStage’s website or in person at one of its local branches to quote and purchase insurance policies. Bankrate’s TruStage Insurance review can help you decide if the company is right for your insurance needs.

TruStage car insurance

TruStage car insurance is offered through its partnership with Liberty Mutual, an insurance company that operates nationwide. Liberty Mutual offers standard car insurance coverage types like liability, collision coverage, comprehensive coverage and uninsured and underinsured motorist insurance coverage. What makes Liberty Mutual’s auto insurance unique from other car insurance carriers is the availability of add-on coverage options.

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Where available, this can include lifetime repair guarantee which means that repairs completed through Liberty Mutual’s repair network come with a full repair guarantee for vehicles that are owned outright, as well as easy repair status tracking online. Another optional coverage is better car replacement. For older vehicles that have been totaled in an accident, Liberty Mutual can provide a replacement that is one year newer with 15,000 fewer miles.

TruStage car insurance cost

While average rates for TruStage and Liberty Mutual car insurance are not available, it can be helpful to know the national average for comparison purposes. Drivers throughout the United States pay an average of $1,771 per year for full coverage car insurance and $545 per year for minimum coverage, according to 2022 rates pulled from Quadrant Information Services. When looking for the best car insurance company, your actual quoted premium may vary due to a variety of car insurance rating factors such as where you live, what type of car you drive and your annual mileage.

National average annual full coverage premium
Clean driving history $1,771
Speeding ticket conviction $2,138
At-fault accident $2,521
Adding a teen driver* $3,852

*Teen rates reflect the cost of a male or female 16-year-old driver and their married parents on one full coverage car insurance policy. 

TruStage car insurance discounts

Just as Liberty Mutual offers unique optional coverages for its auto insurance policies, it also has special discounts to help lower the cost of car insurance. Although availability may vary by state, credit union members applying through TruStage could receive:

TruStage car services

TruStage does not appear to offer any additional benefits to drivers who choose to purchase car insurance through its partnership with Liberty Mutual.

TruStage home insurance

Similar to its auto insurance, TruStage home insurance is offered and underwritten by Liberty Mutual. In addition to some of the best homeowners insurance companies in the nation, Liberty Mutual can be another option for homeowners who want the freedom to pick and choose from multiple endorsements. Standard homeowners insurance with Liberty Mutual comes with coverage for dwelling, personal property, liability and additional living expenses.

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Homeowners who want additional coverage for their needs have several to choose from. Some of these include blanket jewelry coverage, which will replace jewelry if lost or stolen with no added deductible or required appraisal, and inflation protection, in which Liberty Mutual will automatically adjust the coverage limit of the homeowners insurance policy to account for inflation at renewal. Another useful coverage add-on could be hurricane damage, which is specifically designed for damages caused by a hurricane. However, based on state regulations, there may be a separate deductible for this coverage.

TruStage home insurance cost

The national average cost of homeowners insurance for $250,000 in dwelling coverage is $1,312 per year, according to 2021 rate information pulled from Quadrant Information Services. Similar to its auto insurance, TruStage’s auto insurance rates through Liberty Mutual are not available, but knowing the national average could be useful as a comparison when requesting quotes.

Dwelling coverage limit National average annual premium
$150,000 $898
$250,000 $1,312
$350,000 $1,723
$450,000 $2,148

TruStage home insurance discounts

Liberty Mutual offers a wide variety of discounts for homeowners insurance policies. The discounts are broken down into three categories and relate to claims and policy history, features of the home and policy add-ons. Availability may vary by state, but a few special savings opportunities include:

TruStage home services

TruStage does not appear to offer any special benefits to customers who purchase a homeowners insurance policy with Liberty Mutual.

TruStage life insurance

Finding the best life insurance companies can be difficult, but TruStage life insurance may be worth a look. As with its homeowners and auto insurance policies, TruStage does not underwrite and issue life insurance. In partnership with CMFG Life Insurance Company, another affiliate of CUNA Mutual Group, those seeking coverage could apply for life insurance through TruStage for term life insurance, whole life insurance and guaranteed issue whole life insurance.

 

 

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The different types of life insurance available with TruStage offers several advantages. Quotes can be started online or through the mobile app and there is no requirement for medical exams or related health questions. Coverage starts right after the first payment and if you find that you no longer want the policy, it may be canceled and fully refunded within the first 30 days. However, compared to life insurance policies from other carriers, TruStage life insurance may not be a good option for those wanting more than $300,000 in coverage.

TruStage life insurance endorsements

Adding endorsements on a life insurance policy can help tailor it specifically to your needs. As TruStage does not specify what endorsements are available, the best solution may be to contact a TruStage life insurance agent to see what you can add to your life insurance policy.

TruStage life services

TruStage does not indicate if life insurance customers can benefit from any additional services.

Other TruStage perks worth considering

In addition to homeowners, auto, and life insurance, TruStage also offers the following:

  • Condominium insurance: Condominium owners are typically responsible only for the interior of their unit, which this type of policy takes into account.
  • Renters insurance: Renters may not need to insure the structure of the home they live in, but having insurance for your possessions, as well as loss of use and liability coverage could offer peace of mind.
  • Accidental death and dismemberment insurance: This type of insurance will pay a cash benefit in the event of an accidental death or if you received certain permanent injuries due to an accident.

TruStage corporate sustainability

While TruStage does not highlight its own social responsibility efforts, it is part of the larger CUNA Mutual Group. The company has its own initiative called CMFG Ventures that supports innovation in the financial services and insurance industries. Most notably, in 2021, it launched the CMFG Ventures Discovery Fund with an initial commitment of $15 million over three years to support early-stage startups founded by people from diverse backgrounds, such as women and people of color.

Not sure if TruStage is right for you?

  • State Farm: Customers who want a personal touch from local insurance agents for all of their insurance needs may find State Farm to be an ideal option.
  • Allstate: Similar to TruStage, Allstate also offers car and home insurance, as well as a wide variety of financial products for investment and retirement planning.
  • Erie: Erie may be a regional carrier, but customers living within the company’s service areas may appreciate choosing unique car insurance coverage options, including Erie’s Rate Lock feature.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 and 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:

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 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.

Teens: Teen rates were calculated by evaluating average rates for a 40-year-old male married to a 40-year-old female who owns their own home with a 16- or 17-year-old driver (male or female) on their policy. 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 single at-fault accident.

Homeowners

Homeowners dwelling coverage levels were calculated using our base profile and applying 2021 rates obtained from Quadrant Information Services for the following coverage limits:

  • 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.

Bankrate Scores

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.

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