Nowadays, it appears like anything can be done online, from video conferencing with your doctor to shopping groceries through an app. Purchasing insurance is no exception; in fact, many digital insurance businesses provide online and app-based services. Many clients no longer need to speak with a representative
The age of insurtech has also proven to be highly enlightening. Consumers may get answers to their most pressing problems and be directed flawlessly through the insurance-buying process, from assessing how much coverage they require to putting up a policy in minutes.
We studied the best digital insurance providers available today to assist you in finding the correct coverage, regardless of the type of policy you require.
2023’s Top 6 Digital Insurance Providers
Life Insurance at its Finest: Haven Life Insurance Company
Next Insurance is the best business insurance provider.
Lemonade is the best homeowners insurance.
Root’s Best Auto Insurance:
Esurance is the best option for multiple lines.
Oscar Health Provides the Best Health Insurance
Haven Life Insurance Agency
With up to $3 million in low term coverage and a simple digital approach, Haven Life makes buying life insurance online easier than ever before. The company is backed by MassMutual, which has an A++ (Superior) rating from AM Best, and coverage is available statewide.
Advantages: Available in the majority of states
The AM Best rating for MassMutual, a term life insurance provider, is A++.
InstantTerm offers no-exam, immediate coverage.
There are three optional riders to pick from.
Term insurance policies are offered until the age of 64.
There are just term life insurance coverage available.
Many applicants will be required to take a medical exam in order to be approved for coverage.
Active military soldiers and those who are currently enlisted are ineligible.
While Haven Life was founded in 2015, it is owned by MassMutual, a well-known name in the insurance industry since 1851. As a result, Haven Life by MassMutual can boast an AM Best A++ financial strength rating as well as an exceptional, well-below-average complaint index, according to NAIC. Whereas most life insurance companies will only allow you to start the process online, Haven Life allows you to finish it and get life insurance in minutes, making it our choice for best life insurance.
Customers in most states can purchase online term life insurance from Haven Life. While they do not currently offer other types of life insurance (such as whole life or final expense), they do offer three different add-on riders (Haven Life Plus, accelerated death benefit, and critical illness protection).
Next Insurance
Protecting your small business with insurance is critical whether you have 20 workers or are a lone proprietor. Next Insurance provides online business insurance coverage for a wide range of enterprises and industries, and purchasing a policy (which starts at $19 per month) may be completed in minutes.
Pros
There are eight different types of coverage to choose from.
The product is currently available in 49 states.
Coverage is available for approximately 1,300 different types of businesses.
Purchasing insurance online usually takes less than 10 minutes.
Next Insurance was created in 2016 and provides a choice of small business insurance alternatives to protect you and your company, whether you have one employee or thirty. The company has innovated difficult commercial insurance while keeping it reasonable, which has helped them earn the title of top business insurance in our evaluation.
You may acquire a quotation for general liability insurance, business insurance, business owner’s policy (BOP) coverage, property insurance, commercial truck/auto insurance, workers’ compensation insurance, or professional liability/E&O coverage with Next Insurance in just a few minutes online. All policies are backed by Munich R.E., which has an AM Best rating of A- (Excellent).
BEST HOMEOWNERS INSURANCE – Lemonade
Despite the fact that Lemonade was only founded in 2015, they have created quite a stir in the world of property insurance. The organisation provides coverage for homeowners, renters, and condos, with homeowners plans available in 36 states and the District of Columbia.
All plans are readily purchased online or through Lemonade’s mobile app; in fact, getting a quote takes only a few seconds and purchasing a new policy takes less than two minutes, which contributed to Lemonade’s selection as the best for homes insurance. Customer assistance is available via phone, email, or through the company’s powerful mobile app whether you have questions, are ready to buy coverage, or need to file a claim.
BEST AUTO INSURANCE – Root
Root, which was founded in 2015, has progressively expanded its auto insurance business over the last five years. The app-based technology allows drivers to save money on premiums by utilising a unique “test drive” before a quote is ever computed, which is why it wins our top auto insurance category.
Root’s test drive is a two- or three-week digital trip tracker that is completed immediately through the Root mobile app. Root is able to gauge and evaluate your daily driving patterns, including speed, hostility, and even the times of day you most frequently drive, using this method. With this information, Root can better quantify the risk you represent behind the wheel and, as a result, reward you with lower rates.
BEST FOR MULTIPLE LINES – Esurance
Esurance was picked as the top overall supplier due to the ease of use of the platform and the availability of numerous insurance products without the need to communicate with an agent until desired.
Esurance has been writing insurance since 1999 and is owned and backed by Allstate, the largest publicly traded personal insurer in the country with an AM Best rating of A+ (Superior). It runs in the majority of states, albeit not all products are available in every state; for example, in Virginia, you can get an auto coverage but not motorbike insurance.