Fred Loya Insurance is the default choice for insuring vehicles; it is ideal for high-risk drivers who often have trouble finding a company willing to insure them.
Because it is beneficial for high-risk drivers, its policy premiums are usually higher than auto insurance for average drivers. It is the right solution if you have bad credit or have to file an SR – 22 forms.
Is Fred Loya insurance a good choice?
Today, Fred Loya has 726 insurance offices in the United States, located in major cities such as Las Vegas, Los Angeles, and San Antonio. It is also found in 11 states, including Texas, New Mexico, Georgia, Nevada, Colorado, Indiana, and Ohio.
Fred Loya is known for having no eligibility restrictions, so drivers with low credit scores or without a clean driving record have better benefits when purchasing this insurance.
The auto insurance coverage options offered by Fred Loya are the same as standard vehicle insurance, with bodily injury or property damage liability, collision, and comprehensive coverage.
When you opt for this company, you should ask for the available coverages to see if it is what you are looking for; they are a little limited according to the state where you are, that is why the Bankrate Score of the company is not as high as others with more recognition.
It would help if you kept in mind that their insurance premiums are high, and there are low ratings related to the quality of customer service offered. If you are looking for affordable insurance that offers good customer service, this will not be the best option.
How much does Fred Loya’s car insurance cost?
The average annual payout for Fred Loya auto insurance is $2,889 for full coverage; minimum coverage is positioned at $449 annually. The minimum coverage is lower than those of other companies, but the full range is higher; in other insurers, you can find a full range of $1,674 per year.
The company does not offer usual add-ons such as roadside assistance, new car replacement, rental cars, deductible modification, gap insurance, and better vehicle replacement.
Many customers point out that their insurance has higher rates for fewer benefits. But that’s understandable as an insurance company willing to insure high-risk drivers.
Coverages available at Fred Loya
The number of coverages offered by Fred Loya is limited; in addition to the liability insurance, which is mandatory, they have four different ranges for their policies:
- Other than collision: they pay for damages from any situation apart from a crash, such as those caused by vandalism, animals, theft, or weather problems
- Collision coverage: has a fee to cover collision damage
- Medical payments: in case of injury, regardless of which party is at fault
- Personal injury protection: your injuries, care expenses, and lost wages after a collision are covered
It does not have one of the most important coverages for many drivers, such as roadside assistance insurance; if you have a breakdown, you must call a tow truck or independent mechanic and be responsible for the payments.
Although to remedy the situation a little, Fred Loya has discounts for multiple cars, anti-theft, airbag or automatic seat belts, and driver’s education.
Consider this before you pay for your Fred Loya insurance
It is mandatory in almost all U.S. states to have insurance on the vehicle you travel, but it is not advisable to buy a policy.
Know when you can use the insurance and when you can’t
Having the telephone numbers to request help in an emergency and knowing the available coverage is essential before contracting your insurance. Depending on the risks you usually have on the road, you should add some extra coverage.
Insurance terms and conditions
It is essential to know the conditions under which the insurance company is not responsible for claims to avoid disputes with the insurance company,
Deductibles to be paid in case of accidents
Know the amount of money that the insurance will cover in case of accidents; this will give you an idea of what you will have to spend in case of collisions, theft, or damage to the car. Generally, the deductible for property damage is 5% and for total stealing is 6.10%.
Read the opinions of other clients about the quality of the coverages
To know if the Fred Loya insurance you want to hire is recommendable or not, you can look at the opinions of their previous clients. Looking at the reviews is the best way to visualize the quality of the services and the speed of response in case of an accident.