Founders Insurance: Review, Coverage Options, and Ratings

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Founders Insurance Review 2021

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2.5 Rating from The Zebra

Based in Des Plaines, Illinois, Founders Insurance Company offers a wide range of insurance options for price-conscious consumers. It is a member company of Utica National Insurance Group. Founders' auto and homeowners insurance options provide a fair amount of coverage, but the insurance company also offers less traditional coverage types, including liquor liability insurance. 

While the company is known for its low prices, some may find its insurance coverage options rather limited. Overall customer satisfaction tends to be lower with Founders Insurance Company than with many other insurance companies. Check out our Founders Insurance review to see coverage options and overall level of customer service you can expect from the company.

JD Power Rating — Not Rated 

Financial strength — Excellent: AM Best gives Founders a rating of A-, which is considered excellent. The company should have no issues paying out insurance claims.

NAIC Rating — Poor: According to the National Association of Insurance Commissioners, Founders Insurance's complaint ratio was significantly higher than the national average in 2019.


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Founders auto insurance coverage options

Founders Insurance offers car insurance coverage in Illinois, Indiana, Ohio, and Wisconsin. The company focuses primarily on the non-standard market, offering coverage for drivers who struggle deemed ineligible for a policy from a standard insurance company. This could be due to a history of previous car accidents or serious infractions. 

Along with the standard car insurance coverages, Founders promises policyholders the following perks:

  • Personalized coverage options
  • No credit check
  • No prior insurance required
  • Electronic SR-22 filings available
  • Foreign/international licenses accepted
  • Prior losses acceptable


Founders car insurance discounts and coverage extras

Policyholders can earn discounts on their auto insurance premiums in any of the following ways:

  • Renewal: By renewing your policy with Founders, you could earn a discount.
  • Transfer: Transfer your coverage to Founders Insurance to see a discount on your policy.
  • Homeowners: If you own a home, you could save extra on your car insurance premiums.
  • Multi-car: Owners of multiple cars could see a discount by covering the vehicles on one policy.


Non-owners policy features from Founders

For those who require a non-owners insurance option, Founders Insurance offers policies for those with expired, suspended, foreign, out-of-state, and even unverifiable driver’s licenses.

These options include: 

  • Electronic SR-22 filings
  • Expanded coverage options
  • Accidental death benefit
  • Legal expense coverage


Founders home insurance options

Founders Insurance provides home insurance options, though these are more limited in scope than those offered by many standard insurers. Furthermore, homeowners coverage is not as widely available as Founders auto insurance. 

Founders Insurance homeowners coverage options include:  

  • HO-3 policy: This is the most common homeowners policy in the United States. Limits range from between $30,000 and $300,000 for your primary dwelling.  
  • HO-8 policyThis policy type is in place for older homes with unique features that make them harder to replace with today’s means. Features such as plaster walls or hand-crafted moldings are just a few of the components that can make a home more difficult or more expensive to repair. 

Equipment breakdown coverage

This coverage protects home appliances in the event of a loss. This can be quite handy in the event of an event such as a power surge that can affect your electronic devices. According to the company, losses from an event such as this can cost between $39,000 - $50,000, giving this coverage option some appeal. Consult an insurance agent to find out about eligible appliances and how this coverage differs from the home contents insurance offered in Coverage C of your policy. 


Additional insurance products from Founders

Along with homeowners and car insurance, Founders provides an array of alternative coverage options. 

Renters insurance: Founders renters insurance provides property limits from $10,000 to $50,000 and personal liability coverage from $25,000 to $300,000. You can also insure your personal belongings at replacement cost value for an additional premium. 

Founders condo insurance: Often referred to as an HO-6 policy, this provides coverage for a condo or townhome.

Liquor liability: Ideal for caterers, those who run nightclubs, or individuals putting on special events, liquor liability coverage can protect those who serve alcohol from the risks associated.

Commercial auto: Because commercial car insurance satisfies a unique set of needs, these policies are different from those offered to drivers seeking a personal auto insurance policy and are meant exclusively for business-use vehicles.


Founders insurance reviews: is Founders insurance right for you?

Founders Insurance offers a variety of options aimed at those looking for affordable insurance coverage. However, their track record for customer service leaves something to be desired, and some customers may find the coverage options very limiting. For instance, those with high-value homes might find $300,000 primary dwelling coverage limits and the lack of robust homeowners policy options insufficient for their needs. 

When looking for an insurance policy, it’s always good to do a bit of research. One way to do this is to look for customer reviews to get a sense of how an insurance company treats its customers. It can also pay off to get as many quotes as possible. Insurance quotes from The Zebra are free and can help you find the best coverage at the lowest rates.

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Ross Martin
Ross MartinManager, Content Quality

As a licensed insurance agent, Ross researches and writes insurance content intended to help users make informed decisions.

Ross's background is in writing and education. He holds a master's degree from Royal Holloway, University of London.

Ross's work has been cited by The New York Times, Investopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

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