Fred Loya Insurance Review: Costs and Coverage (2022)

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About Fred Loya Insurance

Fred Loya Insurance opened in 1974 in El Paso, Texas. Since then, the company has more than 500 offices in the states of Alabama, Arizona, California, Colorado, Georgia, Illinois, Indiana, Nevada, New Mexico, Nevada and Texas.

These offices are usually located in convenient locations for policyholders to frequent, including grocery stores and other large chains such as:

  • The 8 major Food Source stores
  • Cardenas
  • party market
  • Fiesta Complete Foods
  • Liborio Supermarket
  • Superior
  • Wal-Mart Supercenter

Subsidiaries Fred Loya

EP Loya Group, owner of the car insurance company, also owns several other agencies. Other agencies include:

  • Rodney D. Young Insurance Group
  • Loya Insurance Company
  • Loya Civil Liability Insurance Company
  • Young American insurance company

Fred Loya Insurance Rates and Discounts

According to some reviews, Fred Loya Insurance tends to offer competitive rates for high risk drivers and above average rates for average drivers. However, rates on auto insurance can vary greatly. The rates that an insurer offers your neighbor may differ from yours.

Car Insurance Cost Factors

Car insurance premiums vary because insurance companies adjust them based on a few variables. Some of the most influential factors include:

  • Driving history: People with a good driving record will have access to the lowest fares. Any accidents or violations will generally result in higher premiums.
  • Age: Young drivers and especially teens tend to pay significantly more for coverage than middle-aged drivers.
  • Credit score: In states where insurance companies can use credit scores as a factor, drivers with lower credit scores generally pay much higher rates.
  • Location: Rates vary from state to state, but they also vary within states depending on localized risk factors.
  • Deductible: The higher you set your deductible or out-of-pocket for a covered loss, the lower your premiums are likely to be.
  • Vehicle: The type, value, mileage and condition of a vehicle can also be factored into the cost of car insurance premiums.
  • Marital status: Some insurers may adjust your rates depending on whether you are married or not.

Fred Loya Insurance Discounts

On its website, Fred Loya Insurance does not list any discounts. This doesn’t necessarily mean the company doesn’t offer any, but most insurers list at least a few online. You can always ask a local insurance agent if the company offers car insurance discounts.

Car Insurance Coverage Fred Loya Insurance

When it comes to auto coverage, Fred Loya Insurance has pretty limited options. The company has policies to meet minimum coverage requirements in the states where it operates. It also has the other standard coverages required to create a comprehensive coverage policy.

Here is a list of common options and what they cover:

Fred Loya Insurance Reviews

Fred Loya Insurance has a F-ranking from the Better Business Bureau (BBB). While this is also the case for some large insurers who have received positive ratings from our team, the company has a few other red flags. In 2012, the The Texas Department of Insurance fined Fred Loya Insurance for deceptive marketing practices.

The company’s Complaints Index to the National Association of Insurance Commissioners (NAIC) is 2.4. This means that Fred Loya Insurance has a complaints index that is 2.4 times higher than what the NAIC says you would expect from the market.

Among BBB’s website customers, Fred Loya Insurance Group has a rating of 1.0 out of 5.0 stars and no positive reviews. Negative reviews for the company tend to mention communication issues, especially during the claims process. However, many of the complaints in the customer reviews section were from people who had crashes with drivers insured by Fred Loya and not from the insured themselves.

Fred Loya Insurance: conclusion

It’s hard for members of Home Media’s review team to recommend Fred Loya Insurance to anyone other than high-risk drivers who need coverage. Between fines levied by a state government for its business practices and overwhelmingly negative sentiment from customers and industry rating agencies, most drivers can probably find coverage with a better provider.

*Ratings are determined by our editorial review team. Learn more about our scoring methodology below.

Other car insurance options

Although we can only recommend Fred Loya Insurance to a few drivers, we recommend several companies. It’s always a good idea to compare car insurance quotes from several suppliers. Our team suggests you start with the following companies:

State Farm: Editor’s Choice

In our 2022 auto insurance study, State Farm earns the highest score and our Editor’s Choice award. The largest insurer in the country offers a huge selection of coverage and many discounts. State Farm is an especially good choice for households with young drivers, as the company offers several discounts that can help reduce the high cost of their insurance.

keep reading: State Farm Insurance Review

Geico: affordable for most drivers

Throughout our insurance research, our team noticed that Geico consistently offers one of the cheapest coverages for drivers across the country. Between below-average rates and a host of discounts, even additional coverage options like mechanical breakdown insurance can be inexpensive. Those looking for affordable car insurance are more than likely to find it at Geico.

keep reading: Geico Insurance Review

Our Methodology

Because consumers rely on us to provide unbiased and accurate information, we’ve created a comprehensive rating system to formulate our ranking of the best car insurance companies. We’ve collected data on dozens of car insurance providers to score companies on a wide range of ranking factors. The end result was an overall score for each provider, with insurers who scored the most points at the top of the list.

Here are the factors taken into account by our assessments:

  • Cost (30% of total score): Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
  • Coverage (30% of total score): Companies that offer a variety of insurance coverage choices are more likely to meet consumer needs.
  • Reputation (15% of total score): Our research team considered market share, industry expert ratings, and years in business to assign this score.
  • Availability (10% of total score): Auto insurance companies with greater state availability and fewer eligibility criteria scored higher in this category.
  • Customer experience (15% of total score): This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by JD Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own customer analysis.

*Data correct at time of publication.

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