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Countrywide Auto Insurance Review

Friday, 08 November 2013 16:53

Countrywide Insurance is an auto insurance provider that offers its insurance exclusively to the downstate New York market, in spite of its name. Countrywide Insurance has been rated lower than other insurance providers for financial stability by A.M. Best and has also received some negative reviews online. Countrywide mentions that it offers low limit liability insurance at affordable rates, but there is not that much information readily available on the types of coverage that the company has to offer. The negative reviews of the company and its relative lack of financial stability are areas of concern, but it should be noted that company was recently revised to a “stable” financial outlook by A.M. Best.

Company Background Information

Countrywide Insurance is an insurance provider that specializes in the downstate New York market and is headquartered on Wall Street. The company offers lower limit liability insurance and commercial insurance in downstate New York. Countrywide Insurance was first licensed to offer insurance in 1963 and offers all types of property and casualty insurance. The company currently employs over 300 people at its offices in New York.

A.M. Best recently gave Countrywide Insurance a C+ for marginal financial stability and a credit rating of “b-“. The financial outlook was also recently revised from negative to stable due to regulatory changes in New York regarding changes in insurance claim timeframes. The regulatory changes allow for insurance companies to deny fraudulent Personal Injury Protection claims. A.M. Best also noted that Countrywide Insurance still has under-performance in some areas.

Pros of Countrywide Auto Insurance

  • Specializes in the New York Market
  • May offer affordable rates for some New York customers

Cons of Countrywide Auto Insurance

  • Low A.M. Best financial strength ratings
  • Multiple BBB complaints and negative reviews
  • A minimal website that lacks details on their insurance products

Discounts

Countrywide Insurance does not offer any information on its website about insurance discounts. Potential customers would need to call an agent in order to get information on auto insurance discounts.

Website

The website has some information about the background and history of Countrywide Insurance as well as information about its unique services. There is also a list of frequently asked questions regarding the steps for filing a claim, safe driving tips, and vehicle occupant safety tips. There is very little information on the types of auto insurance products offered. Claims can be filed from the website with the “Report a Claim” link.

Types of Insurance Offered

Countrywide Insurance does not provide extensive information on its website about the types of insurance they offer; an interested customer would need to call to get more information on the specific coverage options. They do mention that they offer lower limit liability insurance as well as commercial vehicle insurance and that they try to keep their rates as affordable as possible.

Customer Reviews

Countrywide Insurance has a number of negative reviews online as well as some unresolved complaints. There have been over 50 complaints filed on the BBB in the past three years. Customer complaints mentioned difficulties contacting customer support for claims processing, customer support delays, unprofessional customer support representatives, and various other customer support issues. For a company of its size, it has a substantial number of negative reviews.

Countrywide

Recommendations

Countrywide Insurance may be worth a quote for some auto insurance seekers looking for bargain rates in downstate New York, but the negative reviews of the company are a good reason to look at other providers. The financial stability of the company is another concern with its lower than average A.M. Best ratings. There are a number of quality auto insurance providers in New York, and you can compare rates from these providers by entering your zip code on this page now.

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