Colonial Life & Accident Insurance Company Review (2024)

Colonial Life & Accident Insurance Company, a stalwart in the insurance industry, distinguishes itself through a commitment to customer satisfaction, a diverse array of coverage options, and a robust approach to digital innovation, providing individuals and families with peace of mind for their insurance needs.

UPDATED: Jun 14, 2024Fact Checked

Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

UPDATED: Jun 14, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

UPDATED: Jun 14, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Jun 14, 2024Fact Checked
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Colonial Life & Accident Insurance Company

Average monthly rate for healthy individuals:

$79

A.M. Best rating:

A

Complaint level:

Low

Pros

  • Diverse range of insurance options catering to various needs
  • Customer-centric approach with user-friendly online services
  • Competitive pricing ensuring value for policyholders
  • Strong financial stability and A.M. Best rating
  • Personalized assistance and community involvement

Cons

  • Limited international coverage for some policies
  • May not offer coverage in certain niche insurance areas

Explore the world of Colonial Life & Accident Insurance Company through this comprehensive article that delves into its wide-ranging coverage options, commitment to customer satisfaction, and its impact on the insurance landscape.

From health and life insurance to accident and supplementary coverage, Colonial Life stands as a reliable partner in safeguarding the future.

Colonial Life & Accident Insurance Company Insurance Coverage Options

Colonial Life & Accident Insurance Company provides a comprehensive range of coverage options tailored to address a variety of needs:

  • Health Insurance: Safeguard your well-being with health insurance plans that cover medical expenses, hospital stays, and preventive care, ensuring you have access to quality healthcare without financial worries.
  • Life Insurance: Secure your family’s future with a variety of life insurance policies that offer financial protection in the event of your passing, helping your loved ones maintain their financial stability.
  • Accident Insurance: Prepare for life’s unexpected twists with accident insurance plans that provide financial support in the event of accidents, helping to cover medical expenses and other associated costs.
  • Supplementary Insurance: Enhance your coverage with supplementary insurance options designed to fill gaps and provide additional protection, ensuring you have a safety net for various situations.

Colonial Life & Accident Insurance Company’s comprehensive coverage options cater to a wide range of scenarios, offering peace of mind and financial security for individuals and families alike.

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Colonial Life & Accident Insurance Company Insurance Rates Breakdown

Driver ProfileColonialNational Average
Clean Record$79$119
1+ Ticket$119$147
1+ Accident$146$173
DUI$258$209
Poor Credit$136$205

*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver

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Colonial Life & Accident Insurance Company Discounts Available

DiscountsColonial
Anti Theft16%
Good Student23%
Low Mileage17%
Paperless14%
Safe Driver27%
Senior Driver19%

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Colonial Life & Accident Insurance Company is dedicated to providing its policyholders with value beyond their comprehensive coverage options. The company offers various discounts that can help you save on your insurance premiums:

  • Multi-Policy Discount: If you have multiple insurance policies with Colonial Life, such as health and life insurance, you can enjoy a discount on your premiums.
  • Safe Driver Discount: Policyholders with a clean driving record and a history of safe driving behaviors may qualify for a safe driver discount.
  • Good Health Discount: Colonial Life rewards individuals who maintain good health by offering a discount on health insurance premiums.
  • Long-Term Policyholder Discount: Loyalty is acknowledged with this discount, which is applicable to policyholders who have been with Colonial Life for an extended period.
  • Group Coverage Discount: If you’re part of a group policy through your employer or organization, you may benefit from a group coverage discount.

These discounts can contribute to significant savings on your insurance premiums while ensuring you receive the high-quality coverage and service that Colonial Life is renowned for.

How Colonial Life & Accident Insurance Company Ranks Among Providers

Colonial Life & Accident Insurance Company operates in a competitive landscape where several prominent insurance providers vie for customers’ attention. Here are some of the company’s main competitors:

  • Aflac: Aflac is a well-known insurance provider that specializes in supplemental insurance, offering policies that cover various medical and non-medical expenses. Like Colonial Life, Aflac focuses on providing coverage for accidents and illnesses that might not be fully covered by traditional health insurance.
  • Metlife: Metlife is a global insurance giant that offers a wide range of insurance products, including life, health, and dental insurance. With its extensive reach and diverse offerings, Metlife competes with Colonial Life by providing comprehensive coverage solutions.
  • Prudential Financial: Prudential is another major player in the insurance industry, offering a range of life insurance, annuities, and investment products. Their comprehensive life insurance offerings often position them as a competitor to Colonial Life’s life insurance policies.
  • Allstate: Allstate is known for its auto and home insurance, but it also provides life insurance and supplementary coverage options. With its recognizable brand and various insurance offerings, Allstate competes with Colonial Life in offering a wide range of coverage types.
  • Guardian Life: Guardian Life is a mutual life insurance company that specializes in life, dental, and disability insurance. Their focus on providing long-term protection aligns them with Colonial Life’s commitment to securing futures through life insurance.

These competitors, among others, contribute to a dynamic insurance market, where each company strives to differentiate itself through unique coverage options, pricing, customer service, and other value-added features.

Colonial Life remains a strong contender in this landscape, standing out for its diverse coverage options and customer-centric approach.

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Colonial Life & Accident Insurance Company Claims Process

Ease of Filing a Claim

Colonial Life & Accident Insurance Company offers a user-friendly claims process that caters to the convenience of policyholders. Whether you prefer online submissions, phone assistance, or mobile app functionality, Colonial Life provides multiple avenues to file a claim, ensuring that the process is accessible and hassle-free.

Average Claim Processing Time

One of the crucial aspects of insurance is the speed at which claims are processed. Colonial Life & Accident Insurance Company is committed to a swift resolution of claims. While specific processing times may vary depending on the nature of the claim, the company strives to provide efficient service to help policyholders during their times of need.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is a valuable indicator of an insurance company’s performance in handling claims. Colonial Life values customer satisfaction and has received feedback from policyholders on their claim resolutions and payouts. Examining this feedback can provide insights into the company’s commitment to delivering on its promises.

Colonial Life & Accident Insurance Company Digital and Technological Features

Mobile App Features and Functionality

Colonial Life & Accident Insurance Company’s mobile app offers a range of features and functionalities that enhance the overall customer experience. From policy management to filing claims on the go, the app provides policyholders with easy access to their insurance information and services.

Online Account Management Capabilities

In the digital age, online account management is essential for policyholders’ convenience. Colonial Life’s online portal allows customers to manage their policies, update personal information, and access important documents with ease. It simplifies the insurance management process, putting control in the hands of policyholders.

Digital Tools and Resources

Colonial Life & Accident Insurance Company understands the importance of providing policyholders with valuable digital tools and resources. These resources may include educational materials, calculators, and guides to help customers make informed decisions about their insurance coverage.

Frequently Asked Questions

How long has Colonial Life & Accident Insurance Company been in the insurance business?

Colonial Life has a rich history dating back several decades, establishing a legacy of trust and excellence in the insurance industry.

Can I customize my insurance coverage with Colonial Life?

Absolutely. Colonial Life offers supplementary insurance options that can be tailored to your unique needs, allowing you to enhance your coverage based on your specific requirements.

What sets Colonial Life apart from other insurance providers?

Colonial Life’s strong customer-centric approach, community involvement, and diverse coverage options set them apart. They prioritize personalized assistance and building relationships with their policyholders.

How can I file a claim with Colonial Life?

Filing a claim with Colonial Life is a straightforward process thanks to their seamless and user-friendly claims process. Simply follow the guidelines provided by the company to initiate your claim.

Are Colonial Life’s insurance plans competitively priced?

Yes, Colonial Life is committed to providing competitive pricing alongside top-notch coverage to ensure maximum value for policyholders. They strive to offer affordability without compromising on the quality of their insurance solutions.

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Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Free Insurance Providers Comparison

Compare Insurance Providers Rates to Save Up to 75%

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