Essentia Car Insurance Review [2023]
Essentia car insurance reviews mainly focus on Hagerty, the company that writes their classic car insurance, as well as Essentia auto insurance claims. Classic car insurance rates are different from the average cost of $50.47/month, because they are based on agreed value and limited use. Essentia is owned by Markel.
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Written by
Laura Berry |
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Reviewed by
Joel Ohman
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UPDATED: Oct 20, 2022
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Searching for car insurance rates can seem daunting. In a market with so much competition, how do you know what to believe? We understand and have created this Essentia car insurance review to help you learn more about Essentia auto insurance company.Essentia is a small car insurance company that’s gone through a lot of changes in the past 13 years. If you’re looking for cheap car insurance rates from Essentia, this review will give you all the details you need going forward.Before beginning our Essentia auto insurance review, you can enter your ZIP code into our free comparison tool to get started right now if you want to compare car insurance rates from multiple companies in your area.
What are Essentia Insurance Company’s Car Insurance Rates?
Essentia Insurance Company, located in Glen Allen, Virginia, was purchased by the conglomerate Markel Corp. in 2013. Essentia underwrites car insurance for Hagerty Insurance Agency, located in Massachusetts.Since Essentia has been owned by several companies and involved in various partnerships over the years, it’s tough to pinpoint its car insurance rates with precision, but this section will provide you with some general information on car insurance rates that should be helpful.
What is Essentia’s availability by state?
Essentia car insurance is available in all states in the U.S. Since Hagerty is partnered and networked with so many companies and independent agents, there’s no telling who you’ll be connected to when you sign up for a car insurance policy.Since that’s the case, and since your car insurance rates heavily depend upon where you live, let’s take a look at the average annual rates in every state. These classic auto insurance rates were calculated by using the NAIC average rates by state and deducting 40 percent (which is the typical savings with a classic or collector car policy.
| State | Full Coverage Annual Rates | Comprehensive Annual Rates | Collision Annual Rates | Liability Annual Rates |
|---|---|---|---|---|
| Alabama | $521.09 | $93.79 | $190.78 | $236.53 |
| Alaska | $616.65 | $82.36 | $210.49 | $323.81 |
| Arizona | $583.71 | $111.67 | $166.78 | $305.26 |
| Arkansas | $543.80 | $114.25 | $193.08 | $236.48 |
| California | $592.05 | $60.32 | $237.93 | $293.80 |
| Colorado | $588.98 | $104.77 | $172.20 | $312.02 |
| Connecticut | $690.64 | $78.97 | $221.11 | $390.56 |
| Delaware | $744.34 | $73.49 | $191.26 | $479.58 |
| District of Columbia | $798.44 | $139.94 | $281.20 | $377.29 |
| Florida | $754.28 | $69.92 | $169.78 | $514.58 |
| Georgia | $629.04 | $95.51 | $199.10 | $334.43 |
| Hawaii | $523.97 | $60.94 | $187.90 | $275.12 |
| Idaho | $407.93 | $69.93 | $131.43 | $206.57 |
| Illinois | $530.74 | $76.88 | $185.83 | $268.03 |
| Indiana | $453.02 | $73.24 | $150.17 | $229.61 |
| Iowa | $421.48 | $110.12 | $131.85 | $179.51 |
| Kansas | $517.76 | $144.82 | $158 | $214.94 |
| Kentucky | $563.11 | $84.83 | $160.75 | $317.53 |
| Louisiana | $843.22 | $129.10 | $248.62 | $465.50 |
| Maine | $422.29 | $62.99 | $155.99 | $203.32 |
| Maryland | $669.87 | $91.63 | $212.39 | $365.84 |
| Massachusetts | $677.57 | $80.98 | $232.97 | $363.62 |
| Michigan | $818.40 | $92.91 | $248.30 | $477.19 |
| Minnesota | $525.29 | $110.56 | $140.64 | $274.09 |
| Mississippi | $596.43 | $126.20 | $193.93 | $276.30 |
| Missouri | $523.46 | $108.76 | $165.17 | $249.53 |
| Montana | $518.11 | $127.15 | $159.19 | $231.77 |
| Nebraska | $498.61 | $137.55 | $142.28 | $218.78 |
| Nevada | $661.83 | $70.58 | $182.32 | $408.94 |
| New Hampshire | $491.25 | $66.46 | $184.45 | $240.34 |
| New Jersey | $829.67 | $78.81 | $229.12 | $521.74 |
| New Mexico | $562.55 | $103.54 | $166.19 | $292.82 |
| New York | $816.40 | $102.67 | $231.01 | $482.71 |
| North Carolina | $473.45 | $81.65 | $176.15 | $215.65 |
| North Dakota | $463.98 | $138.62 | $146.45 | $178.91 |
| Ohio | $473.14 | $72.97 | $161.90 | $238.27 |
| Oklahoma | $603.19 | $135.50 | $191.08 | $276.61 |
| Oregon | $542.90 | $56.32 | $136.10 | $350.48 |
| Pennsylvania | $582.31 | $86.53 | $196.34 | $299.44 |
| Rhode Island | $782.10 | $79.31 | $246.91 | $455.88 |
| South Carolina | $583.86 | $108.56 | $159.04 | $316.25 |
| South Dakota | $460.15 | $154.87 | $125.15 | $180.13 |
| Tennessee | $522.86 | $89.07 | $185.44 | $248.35 |
| Texas | $665.80 | $123.85 | $224.69 | $317.25 |
| Utah | $523.76 | $65.70 | $159.54 | $298.52 |
| Vermont | $458.41 | $75.29 | $177.25 | $205.87 |
| Virginia | $505.60 | $81.92 | $168.31 | $255.37 |
| Washington | $581.28 | $63.83 | $159.44 | $358 |
| West Virginia | $615.47 | $122.57 | $197.80 | $295.10 |
| Wisconsin | $442.31 | $82.09 | $135.60 | $224.62 |
| Wyoming | $508.46 | $148.54 | $167.30 | $192.62 |
| Countrywide | $605.63 | $88.82 | $193.57 | $323.24 |
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Essentia’s Car Insurance Coverages Offered
Essentia does most of its business through underwriting for Hagerty Insurance Agency (sometimes called the Hagerty Insurance Commission). Most of the coverage offered for car insurance is classic car insurance and modified car insurance, according to Markel Corp.https://youtu.be/8k1oSLgCdWoBut what about the essential coverages for car insurance? We didn’t see anything that mentioned car insurance basics in connection with Essentia online, but if you were wondering what these types of coverage are, we’ve got you covered. First, let’s take a look at how much basic car insurance coverage costs per year.
| Car Insurance Coverage Type | Average Annual Rates |
|---|---|
| Liability | $555 |
| Collision | $326 |
| Comprehensive | $148 |
Basic car insurance is relatively inexpensive, but again, the actual car insurance rates you’ll pay depend on a variety of factors that are specific to you. When you get a car insurance quote, you’ll see basic coverages separated like the table above. But what does car insurance cover?Liability coverage pays for bodily injury and property damage incurred by the other driver when you’re responsible for an accident.What is the difference between collision and comprehensive car insurance coverage? Both types of insurance that pay for your damages, regardless of who was at fault, but collision coverage pays for costs incurred by you after a collision (with a car or any other object).
Comprehensive car insurance pays for damage that doesn’t involve a collision such as vehicle theft, storm damage, or falling objects.
In some states, you’ll need additional required liability insurance (and even if these additional coverages are not required, you may wish to purchase them for added protection).Those additional liability coverages are personal injury protection (PIP), medical payments (Med Pay), and uninsured/underinsured motorist coverage.https://youtu.be/-4P67mz2EekWhat about uninsured/underinsured motorist coverage?https://youtu.be/C4pw6NgDWb8For the moment, the only car insurance option available through Essentia is classic and modified car insurance.Start comparing car insurance coverage options in your area by entering your ZIP code in the free comparison tool below.
What are Essentia’s bundling options?
The term “bundling” in an insurance context refers to purchasing more than one type of policy from the same insurer, and many companies offer discounts to policyholders that choose to do this.However, neither Hagerty nor Markel offers life, home, or health insurance. They are organizations that strictly offer specialty insurance coverages.You won’t find any bundling options for your car insurance through Essentia.
What Essentia car insurance discounts are offered?
We searched online, but Essentia doesn’t provide any specific information about discounts. We can assume there might be a discount for renewing your policy, but the best thing you can do to get information regarding discounts from Essentia is to contact one of its car insurance agents.Interested in what your potential discount options are? Read our complete list of car insurance discounts for you to look through, or take a look at the table below.
| Vehicle Discounts | Driver/Customer Discounts | Personal Discounts |
|---|---|---|
| Active Disabling Device | Claim Free | Emergency Deployment |
| Adaptive Cruise Control | Continuous Coverage | Family Legacy |
| Adaptive Headlights | Defensive Driver | Family Plan |
| Anti-lock Brakes | Driver's Education | Federal Employee |
| Audible Alarm | Driving Device/App | Further Education |
| Automatic Braking | Early Signing | Good Student |
| Blind Spot Warning | Full Payment | Homeowner |
| Daytime Running Lights | Good Credit | Life Insurance |
| Economy Vehicle | Loyalty | Married |
| Electronic Stability Control | Multiple Policies | Membership/Group |
| Farm/Ranch Vehicle | Multiple Vehicles | Military |
| Forward Collision Warning | New Customer/New Plan | New Address |
| Garaging/Storing | Occasional Operator | New Graduate |
| Green/Hybrid Vehicle | Online Shopper | Non-smoker/Non-drinker |
| Lane Departure Warning | On-Time Payments | Occupation |
| Newer Vehicle | Paperless/Auto Billing | Recent Retirees |
| Passive Restraint | Paperless Documents | Stable Residence |
| Utility Vehicle | Roadside Assistance | Student Away |
| Vehicle Recovery | Safe Driver | Student or Alumni |
| VIN Etching | Seat Belt Use | Volunteer |
What programs are available from Essentia?
Markel Group has a program called the Express Renewal Policy Program. If you sign up for this program, your policy will be renewed automatically as soon as it ends and an email will be sent to the inbox associated with your policy to alert you that this has occurred.The second program offered is called the Underwriter Training Program. It’s an entry-level training program designed to prepare trainees who want to be successful underwriters.In need of a car insurance policy? Just enter your ZIP code below to compare car insurance rates from multiple companies right now.
Canceling Your Essentia Car Insurance Policy
There’s not a lot of specifics from Essentia online about how to cancel your policy, so this section will provide you with some general information about canceling a car insurance policy, should you need to do so.
Do you get charged for canceling car insurance?
It’s possible you may be charged a cancellation fee when you cancel your car insurance policy. Some car insurance companies will issue a $25 cancellation fee, while others will charge you a portion of the policy when you cancel.
Do you get a refund when you cancel a car insurance policy?
That will depend on whether you prepay for car insurance. If you prepay for your policy, you may be entitled to a refund after canceling. How much you get back depends on how many months you spent with the insurer before you canceled. Always ask about the refund policy before you cancel.
How do you cancel your car insurance policy?
The best way to cancel your car insurance policy is to call or email your car insurance provider and tell them you want to cancel. It’s also a good idea to send a certified letter to the company telling them the date you wish to cancel. You can use these methods to cancel Hagerty insurance, also.
When should I can cancel my car insurance policy?
You can generally cancel your car insurance policy whenever you wish, but it’s best to give your car insurance provider a specific date on which you’d like it to be canceled. It’s also a good idea to give your provider a 15- to 30-day notice when you want to cancel. You can even cancel after you file an Essentia claim.https://youtu.be/9mb-_B6uT_wAlways be sure to have a new car insurance policy lined up before you cancel your current car insurance policy. You don’t want any gaps in coverage.
How to Make an Essentia Car Insurance Claim
If you need to make a car insurance claim with Essentia, contact the Markel corporate location at 1-800-362-7535. If you wish to go through Hagerty Insurance Agency’s website, you’ll have to create a login to gain access before filing your claim.
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Essentia Insurance Company Ratings
As the U.S. Securities and Exchange Commission notes, the ratings we’re going to go over here are intended to show how well a company is doing financially and how well it responds to its customers.In this section, we’ll explore the ratings for Essentia from credit and financial strength agencies.Let’s start with a data table that shows Essentia’s ratings.
| Credit / Financial Strength Rating Agency | Ratings |
|---|---|
| A.M. Best | A |
| Better Business Bureau | - |
| Moody’s | A2 |
| S&P | A |
| NAIC Complaint Index | 0.34 |
| J.D. Power | - |
| Consumer Reports | - |
What do all of these ratings mean? Under A.M. Best, the “A” rating means that Essentia has an excellent ability to meet its ongoing insurance obligations.For S&P, the “A” rating means Essentia has a strong capacity to meet its financial obligations but is somewhat more vulnerable to the adverse effects of changes in circumstances and economic conditions.Moody’s rates Essentia an A2, which is an upper-medium grade indicating the insurer is a low credit risk with a high ability to repay short term debt.The NAIC Complaint Index examines the number of complaints an insurance company receives. The national average is 1.00. Essentia Insurance Company has a complaint ratio of 0.34, which is well below average.
Essentia Car Insurance: The Bottom Line
Essentia was founded in 2007. In 2013, it was bought by Markel Corp., and the following year it began underwriting for Hagerty Insurance Agency, which has partnered with Nationwide and Progressive.Essentia car insurance appears to be dedicated to insuring classic and modified cars. If the insurer does offer any other types of car insurance, your best bet for finding out more about this would be to contact an Essentia agent.Now that you have completed this Essentia car insurance review, start comparing car insurance agency rates in your area by entering your ZIP code into our free comparison tool.
Frequently Asked Questions: Essentia Car Insurance Review
For the final section of this review, we’ll explore frequently asked questions about Essentia car insurance. To learn more about other insurance companies and topics, check out the full range of articles, guides, and reviews on this website.
#1 – Is Hagerty Insurance any good?
Hagerty Insurance Agency is one of the top car insurance companies for classic cars, but different people look for different qualities in a car insurer, so “good” is subjective..
#2 – Who are the top 5 car insurance companies?
According to A.M. Best, the top five car insurance companies are State Farm, Geico, Progressive, Allstate, and USAA. NAIC reports that State Farm has the largest market share (9.27 percent as of 2020).
#3 – What is the Hagerty Insurance Demotech rating?
We searched the internet, but the Hagerty Insurance Demotech rating is not available. Hagerty did receive an “A” from credit rating agency A.M. Best, however.
#4 – What is Hagerty Insurance’s Parent Company?
The Hagerty Insurance Agency is owned by Hagerty Group, LLC. Essentia, under Markel Corp, underwrites for Hagerty Group, LLC. One of Hagerty’s corporate locations is in Traverse City, MI, but Hagerty agents get commissions from selling car insurance all over the U.S.
#5 – How did Essentia Insurance Company become part of Markel?
Markel bought Essentia from One Beacon, a car insurance agency. You can make an Essentia payment on Hagerty’s car insurance agency website or by calling Markel’s car insurance agency customer service number..
#6 – Who has the best classic car insurance?
That will depend on the customer. Our website only reports facts and reviews of what others have said about the company. The best company is the one that meets your classic car insurance needs.Do you still need car insurance? Now that you’ve finished this Essentia car insurance review, compare car insurance agency rates available in your area by entering your ZIP code in our free comparison tool.