Victoria Insurance

Mar 6, 2008

  1. brownphillips
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    brownphillips New Member

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    Does anyone have feedback on this company? I know their parent company is Nationwide, but not much about how competitive they are.

    Does anyone write any business with them and how is their webrating and underwritting?

    Thanks
     
    Last edited: Mar 6, 2008
  2. fostever
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    fostever Guru

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    They insure womens undergarments, correct?;)
     
  3. 1manshow
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    1manshow Guru

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    Didn't you say you might be bringing Erie on board ? Why would you need anyone else ? Especially a company who finances a workaround to their own captive agency distribution channel ? Here in Pa. Allied is Nationwides answer to competing with their loyal captives. Way to reward loyalty Nationwide:err:
     
  4. arnguy
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    arnguy Guru

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    I really enjoy watching their models on TV!:)
     
    arnguy, Mar 7, 2008
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  5. C.Lewis
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    C.Lewis New Member

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    I've written Victoria for over 2 years. Their billing is horrible. It makes absolutely no sense unless the client is set up on EFT. Very unforgiving for the late paying client, but that is what they are suited for - they pay commission on a monthly basis so it's nice when you have those clients who continually let their policies lapse - you're not constantly losing money because of it. However, their billing will drive you batty. I only use them for clients in a lapse or the late paying folks.

    Their web-rating is simple. My 12 year old could do it.

    Underwriting is like any other company. Not sure what you mean by that question, but they only underwrite for 3 years. Discounts for homeowner, paid in full and military. The normal stuff.

    Their specialty lines are pretty good. Cycle rates seem to be decent. Boat is okay but when you bind it, it's not very forthcoming with all of the info you need. So once it's bound, the underwriter will drive you nuts. They may have updated since I used their boat product last - I tend to rely on Progressive for that since it's less hassle and idiot proof. I like to sell a policy and be done with it. Victoria is also very mail friendly and call friendly. Their automated system calls a customer to remind them that their bill is due. They all send out nasty grams monthly. My customers love the rates, but they hate the mail they get from them and hate their billing plans.


    Good luck.
     
    Last edited: Mar 10, 2008
    C.Lewis, Mar 10, 2008
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  6. brownphillips
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    brownphillips New Member

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    Thanks for all the great input C. Lewis.

    For underwriting, I mean do they take what you give up front or do they do a lot of back end underwriting after policy issued.

    What do you mean unforgiving for late paying client? (They charge fees, will not reinstate, etc.)
     
  7. C.Lewis
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    C.Lewis New Member

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    With underwriting, they do babysit you. If you list the client has proof of prior, then you're faxing it in to them as proof. (I am in VA, so maybe other states are different.) If there is anyone else on the clue, they will send them a follow-up letter asking for the person's info. Or you can have them sign a document stating that person doesn't live there and they usually accept it.

    Well, I wrote for 10 different companies...Victoria is not someone you'll place a preferred client with. So, I tend to put the late-payers with them or the people who let their policies lapse. They are unforgiving because since they take such a small down payment to start the policy, it has little grace period. It may be due on the 1st and cancel on the 5th if payment isn't made. Or, you can choose a higher billing plan and take more money down, but by then you're getting into $200+ down for full coverage and it's ridiculous.

    Also, if the client is licensed in certain states, they give them 30 days to get the VA license before they will cancel the policy. Same with suspended license. In VA, we have SR-22s so they can be suspended to start but it cannot stay that way unless there's another licensed driver on the policy.

    Hope this make sense. It's a decent company, but not one you're going to use for clean risks who have prior insurance. I use the heck out of Travelers, Safeco and Hanover for those risks.
     
    C.Lewis, Mar 12, 2008
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  8. brownphillips
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    brownphillips New Member

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    Thanks for the input. It is helpful.

    I already have several standard companies to write with. Victoria pays higher commission than my other non standard companies and I was considering adding them to the agency.
     
  9. kingjacob
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    kingjacob New Member

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    no...i dont know..........
     
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