People look for affordable and cheap insurance for their families, especially when they have financial limitations.
In this case, people should not worry about looking for the perfect insurance that will give them what they want. There are a lot of insurance policies from different companies that provide cheap products.
These insurance companies also offer various insurance policies for their needs. One of these insurance companies is Fred Loya Insurance.
Today, we will look into the background, products, and features of Fred Loya Insurance to help you make an informed decision. The goal is to help people in considering acquiring policies from this company. Before we move on to that, watch the video below to help you choose an insurance company for your family.
What is Fred Loya Insurance?
Fred Loya Insurance specializes in giving minimum levels of auto insurance for high-risk drivers. High-risk drivers include those who have insufficient credits and those required to pass an SR-22 Form.
Drivers who need to file an SR-22 form are those who have DUIs or traffic violations. Fred Loya Insurance allows them to have auto insurance, unlike the other companies.
Fred Loya Insurance offers a lot of unique features. The features include complimentary rental car coverage, and there are office locations in Walmart stores and grocery stores.
Even though they have these features, their policies are confusing for many. Other than this, they also faced a lot of issues in the past.
Fred Loya Insurance received a high number of complaints from their customers and faced legal problems.
If you’re having difficulty looking for coverage, Fred Loya will most likely issue you a policy. However, it is better to consider the other policies for high-risk drivers before settling with Fred Loya.
Also, there are alternatives or other options available for people who need a policy for their state’s requirements.
About Fred Loya Insurance
The Chief Executive Officer (CEO) of EP Loya Group is Fred Loya Jr. EP Loya Group operates Fred Loya Insurance.
EP Loya Group is a private Texas-based auto insurance company. Fred Loya Insurance Agency is a subsidiary company of EP Loya Group.
Fred Loya Insurance’s headquarters is located in El Paso, Texas. The Texas auto-insurance company also owns the following companies:
- Loya Insurance Group
- Rodney D. Young Insurance
- Young America Insurance
- National Insurance.
- Loya Casualty Insurance Company
These companies offer policies from Fred Loya and other insurance providers.
Sometimes, Fred Loya Insurance is marketed using these names in different locations. Fred Loya has established over 726 insurance office locations.
Most of it is located in major cities in different states. This includes Las Vegas, Los Angeles, and San Antonio.
People can get a quote by visiting a local Fred Loya Insurance office or call their customer service number.
Fred Loya Insurance offices are located in the following eleven states:
- Ohio
- California
- Texas
- New Mexico
- Georgia
- Colorado
- Nevada
- Indiana
- Arizona
- Alabama
- Illinois
Let’s move on to the contact information of the company and how you’ll contact them. So, Fred Loya’s website has a limited number of functionalities.
People would likely need to contact them by phone, via email, or in person during business hours. These are the only choices to contact the company to be able to manage the insurance policy.
On the other hand, a person can pay for their bill online. They have to log in to their Fred Loya Insurance Account.
People can also contact Fred Loya Insurance with the use of the company telephone number. Listed below are the telephone numbers of the company:
- Fred Loya’s Customer Service Phone Number: 800-248-8787
- Fred Loya’s Claims Phone Number: 800-880-0472
Fred Loya Insurance branches are open from 7:00 AM to 8:00 PM every Monday to Friday. They are also open every Saturday from 7:00 AM to 4:00 PM. However, they are not open on Sundays.
People can also do their business with Fred Loya through the post. They can send their claim information the Fred Loya’s mailing address:
Fred Loya Insurance P.O. Box 972450, El Paso, TX 79997
Fred Loya Auto Insurance and Coverages
Fred Loya provides you with liability coverage policies, but they also provide limited auto insurance coverages.
Also, people can add other coverages in their Fred Loya policy to add in their mandatory liability insurance coverage.
The following are the coverages that people can add to their Fred Loya policies:
- Collision coverage is what pays for the damage in the car that happened because of a collision.
- Comprehensive coverage pays for the damage in the car other than collisions, like weather and weather damages, vandalism, and theft.
- Medical Payments (MedPay) is the coverage that covers the injuries of the driver. It doesn’t matter who is the one at fault in the accident.
- Personal Injury Protection (PIP) is the coverage that covers the injuries, lost salaries, and funeral or caregiving costs after the accident.
Furthermore, Fred Loya also covers rental cars. People can buy rental reimbursement coverage.
The mandatory liability coverage extends to car rentals that an individual will be using. The coverage will happen if the vehicle is under repair in mechanic shops.
Fred Loya has a partnership with many mechanic shops called “Direct Repair Facilities.” Auto repairs are possible with the help of these shops, given that the person leases or owns a car.
On the contrary, Fred Loya doesn’t offer roadside assistance insurance coverage. The lack of roadside assistance will pose a problem. If you need someone to give them a hand on the road, no one will help him/her.
Fred Loya will not provide any repair or tow truck service in the middle of the road. This means that a person is on their own when car problems happen.
You can consider not purchasing a Fred Loya’s policy because they don’t have roadside assistance. Many insurance firms offer towing services that will help them in case of emergency.
However, there are discounts that they give to their clients. Fred Loya discounts include the following:
- Air bag discount
- Automatic seat belt discount
- Multiple car discount
- Anti-theft discount
- Driver’s education discount
- There’s a discount for those people who complete an alcohol and drug awareness course.
- There’s also a discount for those people who completed a defensive driving course.
Fred Loya has a lot to offer to their potential customers, and it is worth considering.
Pros and Cons of Fred Loya Insurance
One thing that makes Fred Loya stand out against other companies is their affordable insurance rates. Sometimes, the rates are less than half of what other companies charge.
Compared to others, full coverage car insurance in Fred Loya costs 56% for the drivers with clean records or history.
On the other hand, drivers who have one accident in their history pays 63% more for full coverage.
Another thing, Fred Loya’s insurance prices do not go up that much when a driver has an accident.
According to ValuePenguin’s analysis, Fred Loya’s rate only increases by 24%, unlike the other companies, which grow more than 50%.
To further understand if Fred Loya is worthy of the money, here are the pros and cons of Fred Loya:
Pros of Fred Loya Insurance
- Policy rates are affordable and cheap.
- Some policies are available for high-risk drivers.
- Drivers can have a complimentary rental car if their car is in the repair shop.
Cons of Fred Loya Insurance
- There’s a high number of complaints and legal issues in the past.
- It isn’t easy to get a quote or file a claim online.
- Fred Loya’s coverage policy exclusions and language are confusing.
- Fred Loya doesn’t offer claim filing for 24/7
- Fred Loya also doesn’t give a digital experience since they don’t have a mobile app.
- Fred Loya’s company website is also hard to navigate.
Customer Reviews about Fred Loya Insurance
Even though Fred Loya has a lot to offer, they can’t erase the fact that there are many bad reviews about them. They cannot avoid the bad reactions from their customers.
Fred Loya is not just known for their cheap rates but also because of their poor customer service. They develop a reputation for their lousy customer service.
Some said that their cheap rates are not worthy of the hassle. It will take hours to connect with their customer service.
In addition, Fred Loya was fined last 2012 for not sticking to the guidelines of customer discounts. It was filed in the Texas Department of Insurance.
This incident happens because they did not impose the other requirements. It kept their premiums higher than the discounted price.
As per the National Association of Insurance Commissioners (NAIC), their data shows that Fred Loya receives 475% of complaints. It is more than it should be, especially with their company’s size.
Usually, the complaints that Fred Loya Insurance got are more on the claim denials and delays. In addition, these are the top three complaint types that they got for the last three years:
- There’s dissatisfaction in the settlements and offers.
- There are delays in handling the customer’s claims.
- There’s a denial of the customer’s claims.
Conclusions
Sometimes, even if there’s a lot of things that Fred Loya’s insurance can offer for people, they should have better service. After all, customers are always right.
There’s still a lot of time for Fred Loya Insurance to make better services and decisions for their customers.
However, if you’re not convinced, there are still many insurance companies that can match your family’s needs.
Do you like the article? You can know more about different insurance companies below:
- National General Insurance – Coverage and Review [2020]
- Erie Insurance Review: Policies, Pricing, And Premiums
- GEICO Insurance Reviews 2018: Complaints, Reviews, Coverage – Car, Home, Motorcycle
Let us know if you learnt anything new from this review!
