Oakwood Insurance Company Review (2024)

Delve into the comprehensive review of Oakwood Insurance, a trusted provider offering a diverse range of insurance solutions designed to cater to your unique coverage 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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Oakwood Insurance

Average monthly rate for business insurance:

$100

A.M. Best rating:

A+

Complaint level:

Low

Pros

  • Diverse range of insurance products
  • Competitive rates and discounts
  • Strong financial stability
  • Excellent customer service
  • Quick and hassle-free claims processing

Cons

  • Limited geographic availability
  • Limited online self-service options
  • Premiums may be slightly higher for some coverage types
  • Limited specialty insurance options
  • No mobile app for policy management

In this comprehensive article, we delve into Oakwood Insurance, a trusted provider of a diverse range of insurance solutions. With a solid A.M. Best rating of A+ and a reputation for low customer complaints, Oakwood stands as a reliable choice in the insurance market.

Offering a wide array of coverage options, including auto, home, life, and health insurance, Oakwood caters to the unique needs of its clients. With competitive rates and discounts, such as multi-policy and safe driver incentives, they make protection affordable.

Furthermore, Oakwood combines financial stability with excellent customer service and efficient claims processing, ensuring peace of mind for policyholders. Whether safeguarding your vehicle, home, family, or health, Oakwood Insurance stands ready to assist, making them a notable presence in the insurance landscape.

Oakwood Insurance Coverage Options

Oakwood Insurance offers a wide range of coverage options to meet the diverse needs of its customers. These coverage options include:

  • Auto insurance: Oakwood provides comprehensive coverage for your vehicle, including liability protection, personal injury coverage, and optional extras like roadside assistance.
  • Home insurance: Protect your home and belongings with Oakwood’s home insurance, which includes dwelling coverage, personal property protection, liability insurance, and additional living expenses coverage.
  • Life insurance: Oakwood offers various life insurance plans, including term life insurance, whole life insurance, universal life insurance, and survivorship life insurance, ensuring your family’s financial security.
  • Health insurance: Take care of your health with Oakwood’s health insurance plans, covering medical expenses, prescription drug coverage, preventive care, dental, and vision options.

These coverage options are designed to provide peace of mind and protection for various aspects of your life, from your vehicles and home to your family’s financial future and healthcare needs.

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Oakwood Insurance Rates Breakdown

Driver ProfileOakwood Insurance CompanyNational Average
Clean Record$121$119
1+ Ticket$148$147
1+ Accident$177$173
DUI$218$209
Poor Credit$208$205

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

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Oakwood Insurance Discounts Available

DiscountOakwood Insurance Company
Anti Theft10%
Good Student9%
Low Mileage8%
Paperless5%
Safe Driver11%
Senior Driver6%

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Oakwood Insurance values its customers and offers several discounts to help them save on insurance premiums. These discounts can make your coverage more affordable while maintaining the same level of protection. Here are some of the discounts typically offered by Oakwood:

  • Multi-policy discount: Save money when you bundle multiple insurance policies, such as auto and home insurance, with Oakwood.
  • Safe driver discount: Enjoy lower premiums if you have a clean driving record with no accidents or violations.
  • Good student discount: Students with good academic records may qualify for reduced rates on their auto insurance.
  • Home security discount: If you have security features like burglar alarms or fire alarms in your home, you could be eligible for a discount on your home insurance.
  • Multi-car discount: Insure multiple vehicles under the same policy and receive a discount for each additional car.
  • Loyalty discount: Stay with Oakwood Insurance for an extended period, and you may qualify for loyalty discounts.
  • Defensive driving discount: Completing a defensive driving course can lead to lower auto insurance premiums.
  • Payment discount: Some insurers offer discounts for setting up automatic payments or paying your premium in full.
  • Claims-free discount: Maintain a claims-free history, and you might be eligible for lower rates.

These discounts can vary by location and policy type, so it’s essential to check with Oakwood Insurance to see which discounts you may qualify for and how they can help you save on your insurance coverage.

How Oakwood Insurance Ranks Among Providers

In the bustling domain of insurance, several formidable contenders stand shoulder to shoulder, each vying for prominence and customer trust. Among the notable adversaries challenging the status quo alongside Oakwood Insurance, several key competitors emerge, shaping the dynamic landscape of the industry.

  • State Farm: A leading insurance provider offering a wide range of insurance products, including auto, home, life, and health insurance. State Farm has a substantial market presence across the United States.
  • Allstate: Known for its diverse insurance offerings, Allstate competes in various sectors, such as auto, home, life, and renters insurance. The company is recognized for its extensive network of agents and customer-centric approach.
  • GEICO: Particularly prominent in the auto insurance sector, GEICO, with its direct-to-consumer model and catchy marketing campaigns, competes fiercely for market share.
  • Progressive: Recognized for its innovative policies and technology-driven approach, Progressive is a significant player in auto, home, and commercial insurance, often known for its competitive pricing and online presence.
  • Nationwide: This company provides various insurance products, including auto, home, life, and pet insurance. Nationwide’s focus on customer service and extensive coverage options positions it as a competitor in the insurance market.
  • Liberty Mutual: Offering a range of insurance products, Liberty Mutual competes in areas like personal and commercial insurance. They’re known for customizable policies and a broad network of agents.
  • Farmers Insurance: With a focus on personal lines of insurance like auto, home, life, and more, Farmers competes by offering diverse coverage options and personalized customer service.
  • Travelers: Known for its property and casualty insurance, Travelers offers a wide array of coverage options for both personal and business needs.

These competitors, among others, often vie for market share, utilize various marketing strategies, and cater to different demographics, shaping the competitive landscape in the insurance industry. The competition drives innovation and better service offerings for consumers seeking insurance products and services.

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Oakwood Insurance Company Claims Process

Ease of Filing a Claim

Oakwood Insurance Company understands the importance of a hassle-free claims process for its policyholders. They offer multiple convenient options for filing claims, including online submission through their user-friendly website, over-the-phone assistance from their dedicated claims team, and the use of their mobile app for quick and efficient claim reporting.

Average Claim Processing Time

When it comes to the speed of processing claims, Oakwood Insurance Company is committed to providing prompt service. On average, they strive to process claims efficiently, ensuring that policyholders receive the support they need promptly. Their dedication to expeditious claim processing sets them apart in the insurance industry.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is a crucial aspect of any insurance company’s performance. Oakwood Insurance has garnered positive reviews for its fair and satisfactory claim resolutions and payouts. Policyholders appreciate the transparency and reliability of Oakwood’s claims handling, which contributes to their overall satisfaction.

Oakwood Insurance Company Digital and Technological Features

Mobile App Features and Functionality

Oakwood Insurance’s mobile app offers a range of features and functionalities designed to enhance the customer experience. Users can easily access their policy information, submit claims, make payments, and even receive important notifications on their mobile devices.

Online Account Management Capabilities

Managing insurance policies has never been more convenient, thanks to Oakwood Insurance’s robust online account management capabilities. Policyholders can log in to their accounts on the company’s website to view and update policy information, track claims, and access important documents.

Digital Tools and Resources

Oakwood Insurance provides policyholders with a wealth of digital tools and resources to empower them with information and assistance. These resources include educational materials, FAQs, and interactive tools to help customers make informed decisions about their coverage.

Frequently Asked Questions

What types of insurance does Oakwood offer?

Oakwood Insurance provides a wide range of insurance options, including auto insurance, home insurance, life insurance, and health insurance.

How can I save on insurance premiums with Oakwood?

You can save on premiums with Oakwood through various discounts, including multi-policy discounts, safe driver discounts, and good student discounts, among others.

Is Oakwood Insurance financially stable and reliable?

Yes, Oakwood Insurance boasts an impressive A.M. Best rating of A+ and has a low level of customer complaints, demonstrating its financial strength and reliability.

What should I do if I need to file a claim with Oakwood Insurance?

In the event of a claim, contact Oakwood Insurance’s customer service, who will guide you through the claims process efficiently to ensure your needs are met promptly.

What are the advantages of Oakwood’s health insurance plans?

Oakwood’s health insurance plans offer comprehensive coverage for medical expenses, prescription drugs, preventive care, and more. Their network of healthcare providers ensures access to quality care, and our competitive rates make healthcare affordable. We also offer various plan options to suit your unique needs.

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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%

secured lock Secured with SHA-256 Encryption