Although not unique in its structure, the Selective Insurance Group is set up a little differently than many well known insurance companies which may be important for you to note and understand.
What do I mean by that? Simply that the Selective Group is basically a holding company, rather than a typical business in the general sense of the word. They don't actually do business but rather own or control other businesses, in this case, insurance companies.
At the time of this writing, this particular holding company has 10 different property and casualty insurance companies in 22 different states.
This fact is really no cause for alarm, as holding companies are quite common, but it may help you to know what you are dealing with if you are concerned about company structure, stability, etc.
I have a tendency to shop around for insurance on a regular basis. Some may call me a disloyal customer for that reason. I look at it a little differently.
I've spent thousands of dollars over the past few decades on insurance and rarely ever have had to file a claim. It only makes sense to me to pay as little as possible on insurance that I am not likely to use, so I compare prices and make a switch accordingly.
Having said that, accidents DO happen. I want to be careful that in my quest to keep my own expenses down that I don't choose some "less than reputable" insurer who won't handle a claim should the worst scenario occur.
I mentioned earlier that the Selective Insurance Group includes a range of companies. The company names you may be familiar with are as follows...
My husband and I are currently insured by Selective Insurance Company of America which is, as you can see, part of the Selective Insurance Group.
I selected this company through my insurance broker, but I also checked them out myself and learned that they have a good standing with A.M Best and the reviews I found were fairly positive as well.
Obviously, there are no guarantees in life, but with a little due diligence you can make some informed choices and reduce your risk while saving money.
Do you have any experience with Selective Insurance? If so, we'd love to hear about it. Give your review here!