Cincinnati Financial Insurance Review
Cincinnati Financial Insurance Review
Cincinnati Insurance boasts impressive add-on coverage packages and provides top-notch customer service. However, shoppers could easily get cheaper rates elsewhere.
We generally recommend Cincinnati Insurance to individuals looking to insure high-value cars and properties rather than to shoppers looking to score the cheapest possible rate.
Our thoughts on Cincinnati Insurance
Cincinnati Insurance has an excellent customer service reputation and offers an impressive array of add-on coverages. It's a good company for those who are willing to pay more for coverage that offers protection in a variety of contingencies, or, alternatively, who want to insure their collector car on the same policy as their standard cars.
However, you'll pay more to get these added benefits. ValuePenguin's analysis found that Cincinnati Insurance charges higher rates than other major insurers. Additionally, users who value a top-notch mobile experience will want to consider another insurer. Cincinnati Insurance's mobile app received middling ratings from Android users, though Apple users seemed to have a more positive experience.
What coverages does Cincinnati Insurance offer?
Cincinnati Insurance stands out for its impressive suite of add-on coverages, as well as for its strong rental car coverage. The coverage you purchase for your own car always extends to your rental, and you won't pay any deductible if you get into an accident. Cincinnati Insurance also pays the rental company for its lost income while the rental car is being repaired.
Additional coverages you can purchase from Cincinnati Insurance include:
- Gap coverage: Pays the difference between what you owe on your auto loan or lease and the worth of your car if it is totaled in a covered loss.
- Replacement Cost Plus: Covers the cost of a new car or pays the value of your car, plus the remainder of your auto loan, if your new car is totaled with less than 1,000 miles on it.
- Antique or collector car insurance: Includes agreed value insurance, and allows you to insure all your cars on one policy, instead of requiring a separate policy for your antique or collector car.
Highlighted features: The Personal Auto Plus Endorsement and Capstone Collector Auto Coverage
Cincinnati Insurance offers policyholders two packages that roll together multiple coverages into one: the Personal Auto Plus Endorsement and Capstone Collector Auto Coverage. The Personal Auto Plus Endorsement is ideal for drivers who like the security of knowing they're covered in most situations, while Capstone Collector Auto Coverage is suited to drivers who travel extensively and have invested significantly in cars.
Personal Auto Plus Endorsement
The Personal Auto Plus Endorsement gives policyholders access to a number of additional coverages, all rolled into one package. The following table outlines what you'll get if you purchase this endorsement:
Coverage | Explanation |
|---|---|
| Air bag replacement | Covers the cost of replacing your airbag with deductible |
| Safety restraint benefit | Drivers who have purchased MedPay will receive double their coverage if they or a passenger sustain an injury while driving with a seatbelt. Not available in New Jersey, Pennsylvania and D.C. |
| Transportation expenses | Doubles your coverage for temporary transportation expenses (such as a rental car) while your car receives covered repairs, from $20 to $50 per day. |
| Roadside assistance | Cincinnati Insurance increases your roadside assistance coverage to $250. |
| Deductible waiver | Waives your deductible if your car is a total loss. Not available in Pennsylvania. |
| Supplementary payments | Raises supplementary payment from $500 to $5,000 if you or your spouse die in a covered loss. |
| Trip interruption | Covers up to $600 if you or a family member are stranded by a car breakdown more than 100 miles from your home and need transportation, lodging and/or meals. You are not charged a deductible. Not available in New Hampshire. |
| Lock replacement | Covers up to $1,500 to replace the locks on your car if your keys are lost or stolen, provided that you notify Cincinnati Insurance within 72 hours. You are not charged a deductible. |
| Child safety seat replacement | Pays for the cost of replacing your installed child safety seat after a covered loss. Not available in Minnesota, Pennsylvania or South Carolina. |
| Glass deductible waiver | Waives the deductible for glass replacement after a covered loss. Not available in Arizona, Connecticut, Florida, Idaho, Kentucky, Minnesota, South Carolina, New York and Oregon. |
Capstone Collector Auto Coverage
The Capstone Collector Auto package allows you to insure all of your cars on one policy, including motor homes, motorcycles and antique or collector cars. This package is ideal for high-net-worth individuals who have invested extensively in cars and travel a good deal.
The package includes the following coverages:
Coverage | Explanation |
|---|---|
| Agreed value | Pays you the full worth of your car, as determined by you and Cincinnati Insurance ahead of time, if it is totaled in a covered accident |
| New car replacement | Replaces your car with a new one from the most recent model year |
| Original equipment manufacturer parts (OEM) | Cincinnati Insurance will only use parts from the original equipment manufacturer when doing covered repairs on your car |
| Transportation expense | Gives you a rental while you car receives repairs for a covered loss, with no daily expense limit |
| No deductible | Eliminates your deductible for pet injuries, repairing glass and replacing airbags, locks or child safety restraints |
| Roadside assistance | Covers emergency repair-related expenses, including towing, labor and delivery of gas, tires or batteries |
| Trip interruption expenses | Covers your meals and lodging if your car breaks down more than 50 miles away from home |
| Worldwide liability | Provides liability coverage worldwide, excepting places where the federal government has enacted travel or economic restrictions |
Auto insurance quotes from Cincinnati Insurance: How do they compare?
If cheap car insurance is your top priority, pick another company besides Cincinnati Insurance. You could pay half as much for basic coverage from State Farm.
While not the most expensive insurer in our study, Cincinnati Insurance did not offer cheap auto insurance quotes to either of our sample drivers. Compared to State Farm, the cheapest insurer in this analysis, Cincinnati Insurance's rates were 95% higher for a driver with a clean record and 244% higher for a driver with one accident on his record.
Find Cheap Auto Insurance Quotes
Insurer | 30-year-old driver, clean record | 30-year-old driver, one accident | % increase after accident |
|---|---|---|---|
| Cincinnati Insurance | $1,789 | $3,725 | 108% |
| Allstate | $2,672 | $4,929 | 84% |
| Geico | $1,994 | $3,162 | 59% |
| State Farm | $918 | $1,083 | 18% |
Additionally, Cincinnati Insurance raised rates the most after an at-fault accident. Premiums for our sample 30-year-old driver went up by 108% after an at-fault accident, while State Farm only increased rates by 18%. Be sure to get a quote from at least three other companies before you purchase from Cincinnati Insurance; otherwise, you could significantly overpay for the same coverage.
What discounts does Cincinnati Insurance offer?
Cincinnati Insurance has only a limited number of auto insurance discounts, which means shoppers will struggle to reduce the company's above-average rates. Available discounts include:
- Multicar: Insure multiple cars on the same policy.
- Multipolicy: Insure both home and auto with Cincinnati Insurance.
- Good student: Maintain a 3.0 or a B average.
- Accident-free: Avoid accidents (number or period of time to earn discount unspecified).
Highlighted discount: RideWell app
RideWell is Cincinnati Insurance's usage-based telematics program. Cincinnati Insurance monitors your driving behaviors via mobile app and offers you discounts based on how safely you drive. Monitored behaviors include:
- Braking
- Speeding
- Hard stops
- Mobile device use
- Turning and acceleration
Other insurers offer better rates and more generous telematics discounts. We'd recommend choosing another company if your main goal is cheap coverage.
RideWell program participants receive an initial sign-up discount of 5%. For drivers under the age of 24, that discount goes up to 10%. Drivers who score well can earn a discount of up to 18% — not nearly as high as the discounts offered by other telematics programs like State Farm's Drive Safe and Save (up to 50%) or Allstate Drivewise (up to 40%).
Customer service reviews and ratings of Cincinnati Insurance
Cincinnati Insurance has an excellent customer service reputation. The average score on the National Association of Insurance Commissioners (NAIC) Complaint Index is a 1.0, but Cincinnati Insurance scored a 0.47 — meaning it has about half as many complaints as would be expected of an insurance company of its size.
Not only does Cincinnati Insurance have strong auto insurance customer service reviews, but the company also received an A+ Financial Strength Rating from A.M. Best. A.M. Best assesses insurers based on their ability to meet financial obligations, and Cincinnati Insurance's A+ grade equates to a "superior" ability to pay out claims.
Rating system | Maximum score | Cincinnati Insurance score |
|---|---|---|
| NAIC Complaint Index | Average score is 1.0; lower is better | 0.47 |
| A.M. Best Financial Strength Rating | A+ (Superior) | A+ (Superior) |
| Apple App Store | 5.0 | 4.6 |
| Google Play | 5.0 | 3.3 |
In terms of mobile experience, however, Cincinnati Insurance's reputation is a little more mixed. Android users gave the MyCincinnati mobile app just a 3.3 out of 5, while Apple users ranked it much more highly, at 4.6 out of 5. Android users may want to consider another insurer if a superior mobile experience is a top priority.
Cincinnati Insurance claims
Policyholders have several options for claims with Cincinnati Insurance.
- Option 1: Log in to your Cincinnati Insurance personal lines online account.
- Option 2: Use the MyCincinnati mobile app to file a claim.
- Option 3: Contact your independent insurance agent who sold you your Cincinnati Insurance policy.
- Option 4: Contact Cincinnati Insurance by calling the dedicated claims phone number at 877-242-2544, where you can speak to a company representative about your auto, casualty or homeowners claim.
- Option 5: Contact the company via email by using their online email form. You do not need to log in to file your claim using this method.
Drivers should note that Cincinnati Insurance has a seperate number for auto glass repairs: 877-588-4527.
About Cincinnati Insurance
You can purchase the following personal insurance products from Cincinnati Insurance:
- Life insurance
- Home insurance
- Umbrella
- Personal articles
- Watercraft and yacht
- Renters insurance (described as a "tenants" homeowners policy on the site)
Homeowners can also purchase flood insurance from Cincinnati Insurance instead of purchasing from the federal government.
In addition to personal lines like auto and home insurance that protect an individual's property, Cincinnati Insurance sells commercial insurance to protect a business or company.
Cincinnati Financial is the parent company of Cincinnati Insurance, and corporate headquarters for the company are located in Fairfield, Ohio. The Cincinnati Insurance Company headquarters address is:
6200 South Gilmore Road Fairfield, OH 45014
Subsidiaries of the company include:
- The Cincinnati Insurance Company
- The Cincinnati Casualty Company
- The Cincinnati Indemnity Company
- The Cincinnati Life Insurance Company
- The Cincinnati Specialty Underwriters Insurance Company
- CFC Investment Company
- CSU Producer Resources, Inc.
- MSP Underwriting
Methodology
ValuePenguin pulled thousands of quotes from across the state of Illinois for two sample drivers. Both are 30 years old, drive a 2015 Honda Civic EX and have an average credit score. One has a clean driving record; the other has an at-fault accident on his record.
We gave our sample drivers the following coverages:
Coverage type | Study limits |
|---|---|
| Bodily liability | $50,000 per person/$100,000 per accident |
| Personal injury protection | $10,000 |
| Property damage | $25,000 per accident |
| Uninsured/underinsured motorist bodily injury | $50,000 per person/$100,000 per accident |
| Comprehensive and collision | $500 deductible |
Quadrant Information Services supplied ValuePenguin with the rate data used in this analysis. Rates are publicly sourced from insurer filings. They are intended solely for comparative purposes, as your own rates could differ based on your age, driving history and other factors.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.