PolicyGenius Insurance Review
Is PolicyGenius legit? Find out more about the insurance marketplace and see if it's a fit for you.
- Name: PolicyGenius, Inc.
- Business Category: Insurance; Online Insurance Marketplace
- Address: 22 W 19th St, 8th Floor, New York, NY 10011
- BBB Rating: A+ (Accredited since 2016)
- Total number of complaints: 16 complaints closed in last 3 years; 7 complaints closed in last 12 months
- Customer Reviews: 4.7/5 stars based on 14,512 customer reviews on Trustpilot
- Years in Business: 7
- Number Of Locations: 1
- Number of Employees: 1,000+
- Alternate Business Name: None.
PolicyGenius is an innovative online insurance marketplace that offers consumers a simpler, more streamlined way to shop for and purchase insurance policies.
With a wide range of insurance products available, including life insurance, disability insurance, homeowners insurance, renters insurance, and pet insurance, PolicyGenius makes it easy for customers to compare policies and rates from multiple insurance providers, all in one place.
Customers can receive free quotes, view detailed policy information side-by-side, and purchase the policy that best fits their unique needs and budget.
PolicyGenius' services are completely free to use, and the company earns revenue through commissions from insurance providers when customers purchase a policy.
Is PolicyGenius Legit or a Scam?
PolicyGenius is a legitimate insurance marketplace. In my expert opinion as someone with over 20 years in the auto insurance industry, there is no reason to believe they are untrustworthy, a scam or illegitimate in any way.
It's important that you compare car insurance rates at least every 6 months to make sure you're paying a fair price. No one wants to pay more than they have to for coverage!
Pros and Cons Of PolicyGenius
- PolicyGenius makes it easy to compare policies and rates from multiple insurance providers in one place, potentially saving customers time and effort.
- The platform offers a wide range of insurance products, including some that are not available from other comparison sites or brokers.
- The PolicyGenius website is user-friendly and intuitive, making it easy to navigate and find the information you need.
- The company's customer service is considered generally responsive and helpful, with multiple ways to contact support and quick response times.
- Some customers have reported technical issues with the PolicyGenius website, including slow loading times and difficulty completing transactions.
- A few people have mentioned that they received a high volume of marketing emails and phone calls after using PolicyGenius, which could be seen as intrusive or annoying (this can happen with a lot of insurance companies, btw).
- While PolicyGenius offers a wide range of insurance products, some customers have noted that the rates offered by certain providers on the platform are higher than what they could find elsewhere.
- A small number of customers have reported issues with delayed or incorrect information in their policy documents, which can be frustrating and time-consuming to correct.
Some customers have experienced technical or customer service issues, which quite honestly isn’t that surprising because this is the #1 complaint with every single insurance company.
Think back to the last time you called a customer service agent or a claims representative at an insurance company. Was it a quick process? Were they friendly? Was your problem solved?
I bet the answer was either “yes, no or ‘kind of’” and the reason is because every situation is unique. You’re never going to get as many glowing, positive reviews as you will negative reviews and customer service reps are people.
For me personally, I would never hold much weight in customer service reviews for this reason. Every situation is unique.
Pricing and Fees
PolicyGenius earns revenue through commissions paid by the insurance providers whose policies are listed on the platform.
When a customer purchases a policy through PolicyGenius, the company receives a commission from the insurance company (just like a traditional broker or independent insurance agent); so if you were to go on their website and select a State Farm policy, State Farm would pay PolicyGenius.
This means that customers can use PolicyGenius' services for free and do not need to pay any additional fees to use the platform, as is the case with every type of insurance quote model.
You shouldn’t ever pay to shop policies, only to purchase them.
In terms of fees compared to other insurance comparison sites and brokers, PolicyGenius is generally competitive, though, as is the case with insurance - you should always shop around. Certain companies charge more than others and it almost seems like there's no logic to it.
Trust me, there is logic behind it, but that's not the fault of PolicyGenius. Just keep shopping around, use other sites if needed (you definitely should use as many sites as possible)
Below you can see the types of insurance products offered and if you’re at all familiar with shopping for insurance online, most places simply don’t have access to everything from car insurance to jewelry insurance. That’s pretty rare.
The PolicyGenius website and platform seem to be user-friendly and intuitive, making it easy for customers (and me!) to find the information they need and navigate the insurance shopping process.
One of the most appealing aspects of PolicyGenius' platform is its ability to provide free quotes from multiple insurance providers with just a few clicks. Customers can enter their basic information and receive real-time quotes from different insurers, making it easy to compare rates and policies side-by-side.
In my personal opinion, GEICO & Progressive are also incredibly user-friendly. I would put PolicyGenius on par with that level. It’s easy to navigate, you’re not going to get lost or wonder where you are in the process, and that’s a positive experience overall.
And I’m picky!
Insurance Products Offered
What I dig the most about this site is the fact they offer SO MANY types of insurance products. Sure, I mean, it’s as simple as partnering with a bunch of insurance carriers that underwrite policies for these lines of insurance, but still, at least they did it and put it all in one place.
You can’t go to GEICO, Progressive, State Farm or Allstate and find all of this.
- Term and whole life insurance: Coverage for a specified term or for the policyholder's entire life, respectively.
- Pet insurance: Coverage for the cost of veterinary care for pets, including dogs and cats.
- Homeowners insurance: Insurance policies that protect homeowners' homes and belongings from damage or loss due to events like fires, theft, or natural disasters.
- Renters insurance: Coverage for renters' personal belongings and liability protection in case of accidents or injuries in the rental property.
- Long-term disability insurance: Insurance policies that provide financial support if the policyholder becomes unable to work due to injury or illness.
- Short-term disability insurance (in some states): Temporary financial support if the policyholder becomes unable to work due to injury or illness.
- Health insurance: A policy that help cover the cost of medical expenses, including doctor visits, hospital stays, and prescription drugs.
- Vision insurance: A type of policy that covers the cost of vision-related expenses, such as eye exams, glasses, and contact lenses.
- Auto insurance: Liability, Comprehensive, Collision, PIP, UI/UIM, Medical.
- Identity theft insurance: A policy for identity theft recovery, including legal fees, credit monitoring, and lost wages.
- Jewelry insurance: Coverage for loss, theft, or damage to valuable jewelry items.
- Long-term care insurance: Insurance policies that provide coverage for long-term care expenses, such as nursing home care or in-home care for the elderly or disabled.
- Travel insurance: Coverage for travel-related expenses, such as trip cancellation, medical emergencies, or lost luggage.
Should I put a conclusion in here? Sure, why not!
Here’s my take. PolicyGenius is an easy-to-use insurance broker that manages to take a very fragmented industry (insurance) and put it all in one place.
Typically when you get a company trying to be everything to all people they aren’t really good at any one thing, but I would have to say, based on their user ratings and general customer feedback - they’re pretty good at it.
I would give a rating of 9/10 to PolicyGenius, and it’s pretty tough to get a rating that good out of me.