Encova Insurance, previously known as Motorists Insurance Group and BrickStreet Insurance, is a relatively new name in the insurance industry but one with a rich history. Formed from a merger between these two established companies in 2017, Encova Insurance offers a wide range of insurance products tailored to meet the diverse needs of individuals, businesses, and organizations.
This article provides a comprehensive overview of Encova Insurance, including its history, product offerings, benefits, and unique features that set it apart in the competitive insurance market.
History and Background
Encova Insurance emerged from the strategic merger of two venerable entities: Motorists Insurance Group, founded in 1928, and BrickStreet Insurance, which started in 2005 as the first private workers’ compensation carrier in West Virginia. The merger aimed to create a stronger, more versatile insurance provider capable of offering a broad spectrum of insurance solutions while maintaining a focus on personalized customer service. Encova Insurance, headquartered in Columbus, Ohio, operates with a mutual insurance company structure, emphasizing policyholder value over shareholder profits.
Product Offerings
Encova Insurance provides a comprehensive suite of insurance products, catering to both personal and commercial needs. Here’s a closer look at their main offerings:
Personal Insurance
Auto Insurance
Coverage Options: Liability, collision, comprehensive, medical payments, uninsured/underinsured motorist, and personal injury protection.
Benefits: Competitive rates, various discounts (such as safe driver and multi-car), and customizable coverage options to suit individual needs.
Home Insurance
Coverage Options: Homeowners, renters, condo, and dwelling fire insurance.
Benefits: Protection for property damage, personal liability, additional living expenses, and more. Policies can be tailored to include add-ons like flood or earthquake coverage.
Life Insurance
Coverage Options: Term life, whole life, and universal life insurance.
Benefits: Financial security for beneficiaries, estate planning assistance, and customizable policies to fit different life stages and financial goals.
Other Personal Insurance
Coverage Options: Umbrella insurance, personal liability, and recreational vehicle insurance.
Benefits: Additional liability protection beyond standard policy limits, peace of mind for high-value assets and activities.
Commercial Insurance
Business Insurance
Coverage Options: Property, general liability, commercial auto, workers’ compensation, and business interruption insurance.
Benefits: Comprehensive protection for various business risks, customizable packages to suit different industries, and expert risk management services.
Specialty Insurance
Coverage Options: Cyber liability, professional liability, and directors and officers (D&O) insurance.
Benefits: Specialized protection for unique business exposures, support for regulatory compliance, and mitigation of reputational risks.
Workers’ Compensation
Coverage Options: Standard workers’ compensation policies tailored to state regulations and specific industry needs.
Benefits: Efficient claims handling, focus on workplace safety, and resources for return-to-work programs.
Key Benefits of Encova Insurance
1. Policyholder-Centric Approach
As a mutual insurance company, Encova Insurance is owned by its policyholders rather than shareholders. This structure aligns the company’s interests with those of its customers, ensuring that profits are reinvested to enhance services and offer competitive rates.
2. Comprehensive Coverage
Encova Insurance’s broad product portfolio allows customers to consolidate their insurance needs with one provider. This consolidation can lead to better rates, streamlined services, and the convenience of managing all policies under one roof.
3. Customized Solutions
Understanding that every customer’s needs are unique, Encova Insurance offers customizable policies. Whether it’s personalizing auto coverage or tailoring business insurance packages, the flexibility in their offerings ensures that customers get the exact protection they need.
4. Exceptional Customer Service
Encova Insurance prides itself on delivering high-quality customer service. Their knowledgeable agents and user-friendly online tools make it easy for customers to get quotes, manage policies, and file claims. The company’s commitment to customer satisfaction is evident in its responsive support and comprehensive service options.
5. Risk Management and Safety Programs
For commercial clients, Encova Insurance offers robust risk management and safety programs. These programs are designed to minimize risks, prevent losses, and promote safe working environments. Clients benefit from expert consultations, safety resources, and training programs tailored to specific industries.
Unique Features
1. Local Presence with National Reach
Encova Insurance maintains a strong regional presence with local offices and agents who understand the specific needs of their communities. At the same time, their national reach allows them to offer competitive products and services across a broader market.
2. Innovative Technology
Encova Insurance leverages modern technology to enhance customer experience. Their online portal allows policyholders to easily access and manage their policies, make payments, and file claims. Additionally, their mobile app provides on-the-go convenience for policy management and claim reporting.
3. Community Involvement
Encova Insurance is deeply committed to giving back to the communities it serves. The company engages in various philanthropic activities, supports local organizations, and encourages employee volunteerism. This commitment to community service reinforces their mission to make a positive impact beyond providing insurance.
Conclusion
Encova Insurance stands out as a comprehensive and customer-focused insurance provider, offering a wide range of products to meet both personal and commercial needs. With a strong foundation built on the merger of two reputable companies, Encova combines the strengths of its predecessors to deliver exceptional coverage, personalized service, and innovative solutions. Whether you’re an individual seeking reliable home and auto insurance or a business owner in need of robust commercial policies, Encova Insurance provides the security and peace of mind you deserve. Their policyholder-centric approach, commitment to customer service, and dedication to community involvement make Encova a trusted partner in the insurance landscape.