There are many different auto insurance companies out there, and while most offer similar types of coverage, each provider has some unique qualities. Falcon Insurance Company specializes in non-standard car insurance for drivers in Illinois, Arizona, Oklahoma, Utah, Texas, Colorado, and Indiana. Let’s take a closer look at Falcon Insurance and what types of reviews it gets from its customers and from independent organizations.
Who Is Falcon Insurance Company?
Falcon Insurance Company is an auto insurance company that is based in Oak Brook, Illinois. It provides non-standard auto insurance to drivers considered a higher risk than the average driver. Its goal is to meet the unique demands of high-risk drivers in Illinois, Texas, Utah, Arizona, Colorado, Oklahoma, and Indiana. Falcon Insurance has over 1,200 independent insurance agents across its covered states, and these agents will work directly with drivers to determine the best coverage for their needs.
Falcon Insurance Products and Services
Falcon is exclusively an auto insurance provider. In the seven states where it sells insurance, Falcon Insurance offers minimum liability coverage and full coverage. Full coverage includes comprehensive and collision insurance to protect vehicles from damage in an accident or non-accident-related incidents such as vandalism, theft, or weather-related damage.
Falcon Insurance Company also provides coverage for drivers required to file an SR-22. An SR-22 is a court order that requires a driver to prove they carry at least the minimum liability coverage required for their state. The requirement for an SR-22 usually comes after a major violation such as a DUI or after several speeding tickets. Most states require the SR-22 for a specific period, usually three years. If for some reason, the insured cancels their policy during this time, the state may charge a large fine or suspend their driving privileges.
Falcon Insurance Pros
Falcon Insurance Company is an excellent choice for drivers who have had several traffic violations and are deemed a high risk. This company will provide coverage regardless of driving history, but it also offers other benefits. Some of these additional benefits include:
- SR-22 filing available
- Mobile app makes policy management easy
- Offers coverage to drivers who might have a hard time getting coverage through other providers
- Network of independent agents provides a personalized customer experience
Falcon Insurance Company offers several discounts to help keep premium costs down. These include:
- Multi-vehicle discount. If you insure two or more vehicles on a Falcon policy, you may be eligible for a discount.
- Pay in full discount. If you pay your annual premium upfront instead of paying monthly, you may receive a discount.
- Homeowner discount. If you own a home, you may receive a discount from Falcon on your auto insurance policy.
- Transfer discount. If you switch your coverage from another provider, you may receive a transfer discount.
Falcon Insurance Drawbacks
While Falcon has many benefits, there are also some drawbacks. When researching auto insurance companies, it’s important to look at both the benefits and the drawbacks to get a complete picture. Some of these for Falcon include:
- Auto insurance is the only insurance product offered
- Insurance products limited to only seven states
- High number of consumer complaints, according to the NAIC
Falcon Insurance Reviews and Ratings
Falcon has a mix of good and bad reviews. It’s not uncommon for high-risk auto insurance companies to have a high amount of poor reviews online, and Falcon has its share. Since these companies specialize in providing coverage to drivers who have difficulty getting auto insurance, it’s common to find poor ratings for claims satisfaction. Falcon, however, has many good reviews in addition to the poor ones.
Falcon has an A+ rating from the Better Business Bureau, but it also has only 1.04 stars out of 5 for customer reviews. There have been 111 complaints in the past three years, with 64 of these closed in the past 12 months. The most recent and common complaints are about problems with their product and service, including the claims process.
Falcon does not participate in the A.M Best rating program, so the company has not assessed its financial strength. A.M. Best is the oldest credit rating company and specializes in the insurance industry.
Falcon has a Poor rating from the National Association of Insurance Commissioners due to the higher than average number of complaints.
Falcon is not a large enough company to make it on J. D. Power’s annual rankings. J. D. Power is a marketing research firm that analyses consumer data. It uses the information to produce rankings and create reports for consumers.
The Falcon Mobile App and Website
One of Falcon’s strong points is its mobile app. It has high ratings on both the iOS platform and the Android platform. Falcon makes it easy to access your policy with its highly-rated mobile app and easy-to-use website. You can instantly file a claim, get ID cards, contact an agent, or view policy information through the app. You can also use the website to manage your policy or access the claims portal.
Who Should Get Auto Insurance Through Falcon?
Falcon is a good company for drivers who might have a hard time getting coverage through a company that only sells standard insurance. A bad driving history makes them a higher risk and not every insurance company will insure them. It’s also a good fit for drivers who are looking only for the minimum required coverage in the states where Falcon does business.
However, Falcon’s poor customer service ratings may be detrimental to some, and its limited coverage options could deter others. Customers who need higher coverage amounts or those who want to bundle their home insurance with their auto insurance will need to look at other providers.
Whether you are a high-risk or safe driver and whether you want just the minimum required insurance or the most comprehensive coverage available, it’s always a good idea to shop around before deciding on an insurance provider. Falcon Insurance Company has both benefits and drawbacks, which is evident in its reviews and ratings. Comparing insurers not only helps drivers find the best premium rates, it also gives them a complete picture of the company, which helps in determining if it’s the right fit.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.