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If the thought of buying insurance stresses you out, you’re not alone. Whether you’re shopping for auto, home, or life insurance, there are so many different types of coverage and rates that it can be utterly confusing. It is difficult to know whether you purchased enough coverage or whether or not you paid a good price for it.
Fortunately, there are more tools than ever to help you make the best choices when it comes to insurance. One of the internet platforms that people increasingly turn to for insurance information is Policygenius. Here is an overview of this platform, so you can determine whether or not it would be useful when you are looking for the best deals in insurance that are out there.
Onto our Policygenius review!
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What is Policygenius?
Policygenius is an online insurance broker. It is not aligned with any one single insurance company. Instead, it helps its users find the best possible insurance coverage for their personal situations. PolicyGenius has been around for several years. It was originally known as KnowItOwl in 2014 and, since its rebranding to PolicyGenius in 2015, the company has helped over 800,000 people find insurance.
You can also use Policygenius as a comparison tool to look at the rates insurance companies charge for comparable types of insurance and coverage. The platform allows you to shop for a broad array of insurance coverage, including homeowner’s renters, automobile, health, disability, travel, and even pet insurance.
Policygenius helps you to find insurance policies that have the lowest price with the best coverage; even if you are currently covered, this company is designed to always help you save money. Because Policygenius is free to users, they are even transparent about their relationship with insurers and payment. As stated on their website, Policygenius earns commission from the policies their users agree to from the insurance companies, yet Policygenius itself is not owned by any insurance company.
Policygenius offers comparison insurance quotes for the following:
- Life Insurance
- Auto Insurance
- Disability Insurance
- Renters Insurance
- Homeowners Insurance
- Pet Insurance
- Insurance Checkup
- Health Insurance
- Vision Insurance
- Long-Term Care Insurance
- Prescription Discount Cards
- Jewelry Insurance
- Identity Theft Insurance
- Travel Insurance
Each category of insurance contains these sections: “Get a Policy”, “Learn More”, and “Compare Companies”; each section provides additional information about the type of insurance. Let’s take a look at the policies this company covers:
- Life Insurance: There are three types of life insurance policies available: term, whole, and universal.
- Home Insurance: PolicyGenius enables you to search for great homeowners insurance quotes just by providing your zip code.
- Renters Insurance: It is easy to search for rent insurance on Policygenius, and use built-in tools such as the rent insurance calculator to determine how much coverage you need.
- Auto Insurance: The platform enables users to search for the most current auto insurance rates and search for deals or ways to bundle their insurance to realize savings as well.
- Disability Insurance: This type includes both long-term and short-term disability. In order to qualify, there are two policy categories: own-occupation disability and any-occupation disability. Own-occupation is defined as being unable to work at your specific job, whereas any occupation means you are unable to work at any job.
- Other Types of Insurance: This section includes health, long-term care, pet, travel, identity theft, vision, and even jewelry insurance.
For each insurance type, their drop-down menus include calculators, recent comparisons for the top insurance companies for each type, and answers to important questions, such as the cost and how much coverage is necessary. Policygenius even includes a news section for users to stay on top of the latest insurance news.
Policygenius Life Insurance
Policygenius allows you to shop and compare life insurance quotes.
|LIFE INSURANCE FEATURE||TERM LIFE INSURANCE||WHOLE LIFE INSURANCE||UNIVERSAL LIFE INSURANCE|
|Does it expire?||Yes||No||No|
|Does it have a cash value?||No||Yes||Yes|
|Average Monthly Cost||$25-35||5-15x more than term||Varies; similar to whole|
Policygenius Car Insurance
Car insurance is essential as it covers your posts if you have an accident or injury someone or damage property.
Types of car insurance coverage:
- Bodily injury liability
- Property damage liability
- Personal injury protection
- Uninsured/underinsured motorist
Policygenius Homeowners Insurance
The following factors determine your costs:
- Where it’s located
- How old it is
- What it is made from
Your credit score:
- Those with a low credit score are statistically more likely to file insurance claims
Your claims history:
- Your insurance will be higher if you have made insurance claims in the past, or your home has a history of structural damage or loss
The more protection. you require, the higher your rates will be
Is Policygenius Reputable?
Is Policygenius safe to use? Yes, Policygenius is a safe and reputable insurance marketplace with a good reputation online.
How Does Policygenius Work?
Policygenius is easy to use and it is 100 percent free for its subscribers. The platform makes its money as a “pass-through” site; when users travel to an insurance website from Policygenius, the site earns revenue for the referral. You simply create an account on the site, which only takes a few minutes. Once you have an account, you can do several different things on PolicyGenius.
Information you will need to provide to open an account includes:
- ZIP code
- Employment Status
Once you have an account, you can do several different things on Policygenius. You can do research about different types of insurance and policies, so you can determine whether or not you need a certain type of coverage. You can also use the site to prepare a will as well, a very useful application you should check out if you’ve never done any estate planning before.
However, the bread and butter of the Policygenius is its capacity to let you shop wisely for insurance. You can input the type of coverage you’re looking for, and the site, after asking a few questions, will provide you summaries of comparable insurance policies and estimate quotes for the coverage. You can use that information to compare the different policies. Once you decide upon a policy, you can travel to the insurance company’s site directly through Policygenius, and if satisfied, purchase the policy there.
Policygenius Customer Service
If you have a question about Policygenius or any of the services it provides, there are three ways to contact their team:
- Phone. Policygenius can be reached 7 days a week from 9 AM to 9 PM Eastern at
- Email. You can also email the platform at [email protected]
- Online Chat. Policygenius has a live chat function built into its platform that allows you to talk to a customer service representative right within the website.
They also have two separate teams for life insurance and home & auto insurance. The home insurance team can be reached Monday through Thursday from 9 AM to 10 PM, Friday from 9 AM to 9 PM, and Saturday to Sunday from 9 AM-8 PM, Eastern Standard Time. The home & auto insurance team can be reached Monday through Friday form 9 AM to 6 PM.
Policygenius Reviews & Complaints
Policygenius has a rating of 4.9 stars on Trustpilot with over 3,000 reviews, which is excellent. Of those reviews, 91 percent of them are excellent, while two percent of them are bad. Additionally, the platform has been accredited by the Better Business Bureau since 2014 and carries an “A-“ rating with the BBB.
On Trustpilot, PolicyGenius has replied to 62 percent of the negative reviews. Most of the negative reviews claim that PolicyGenius called them too frequently or their communication seemed disorganized. The rest of the reviews were merely opinions about how the company operated, but still claimed that the rates they receive were great.
Meanwhile, the overwhelming majority of the great and excellent reviews praise Policygenius for their great customer service and communication, easy streamline service, and how great the staff is.
The next section of our Policygenius review looks at the pros and cons.
Policygenius Pros and Cons
Here are some of the key pros and cons of Policygenius you should consider:
- Free: Policygenius does not require you pay for its services or to access its website and resources.. It makes all of its money by referring its users to insurance companies, where they may end up buying policies. So, you can compare insurance policies and rates as much as you want for free.
- Easy to Use: You will save yourself a lot of time and energy by using Policygenius to search for and compare different types of insurance. The site is intuitive and simple to use, and you’ll be able to hunt for and then compare different insurance coverage and rates way faster than you ever could on your own.
- Powerful Supplementary Tools: Beyond searching for affordable insurance coverage, the additional tools Policygenius offers, like support for preparing wills, are extremely useful and a great starting point for anyone attempting to conduct long-term financial planning.
- Offers Comparison of Nearly Every Type of Insurance: Policygenius even includes out-of-the-norm insurance types, such as jewelry and identity theft, which makes this company one of the most inclusive insurance brokers online.
- Limited View: While Policygenius will let you compare a wide range of comparable insurance policies, you won’t see all of the options out there. The net that Policygenius casts does not pull every single available option into the comparison table. So, you could miss out on a good insurance deal because Policygenius didn’t link to it.
- Slow Search Load Times: Some searches, particularly for a niche type of insurance, can take time to build and load on the Policygenius platform. You may have to wait a few minutes if you’re attempting to compare rates on a type of insurance that is a bit outside of the norm.
- The Process Isn’t Entirely Online: Although most of the process is completed online, the final steps typically require you to talk to a Policygenius representative and this is required for each type of insurance.
There are several different alternatives to Policygenius. Here are some of the top insurance comparison platforms that are out there:
- Insurify: With a 4.6-star, A+ rating with the BBB, Insurify is another digital insurance comparison agent. Like Policygenius, Insurify is free to use; however, Insurify only offers comparison tools for life, auto, home insurance, which is comparably lacking to Policygenius. According to their website, Insurify has fulfilled over 26 million quotes, saving over $44 million for their users. With Insurify, you can get personalized quotes within five minutes, get discounts, and can pay online or over the phone. Lastly, unlike Policygenius, you do not need to open an account to start comparing quotes.
- Quotacy: This option is rated 4.9 out of 5 stars in Trustpilot, with 93 percent of their reviews being excellent. The one drawback, when compared to Policygenius, is that Quotacy only compares prices regarding life and disability insurance, both term and whole policies. However, the website provides an abundance of resources for life insurance specifically. Insurance providers that work with Quotacy offer terms that range between 10 and 40 years, from the ages of 18 to 80 and with coverage amounts of $50,000 and up to $65 million. The account information is similar to Policygenius, except Quotacy asks a few more questions relevant to determining what life insurance policies you qualify for.
- Lemonade: Between the alternatives, Lemonade provides the widest variety of insurance types, compared to Policygenius, including life, renters, pet, car, and homeowners’ insurance. However, the biggest difference between Lemonade and other policy brokerage services is that Lemonade charges per month based on the type of insurance you want a quote for. This flat fee starts as low as five dollars a month for renters’ insurance, with the highest fee rate starting at $30 a month for car insurance. Although using Lemonade does require you to pay a flat fee, this fee also promotes their fast qualification and payment systems. According to their website, Lemonade takes 90 seconds to get insured, and will pay users within three minutes. An interesting fact about Lemonade is the giveback program that takes the unclaimed money left from users and gives the funds to a nonprofit of their choosing, up to 40 percent.
All of these alternatives to Policygenius are different, and some specialize in certain types of insurance. They are all worth checking out, though.
Frequently Asked Questions (Faq)
Is Policygenius legit?
Is Policygenius legitimate? Yes, Policygenius is a legitimate insurance matchmaking service offering one of the best insurance comparison tools around. The company has been in operation since 2014 that has helped over 30 million people shop for insurance policies and have led to the creation of policies totaling to $120 billion.
How does Policygenius make money?
Policygenius makes money by sending customers to insurance companies. The insurance companies then pay Policygenius a commission for each signup or sale sent their way from the Policygenius website.
Is Policygenius an affiliate of an insurance company?
No, Policygenius is an independent insurance agency that provides an insurance policy brokerage service, so they gather the best policies from multiple insurance providers for you and allow you to choose what policy to purchase.
Is it cheaper to buy insurance through Policygenius?
Policygenius can only provide the rates that are regulated by the law, so there is no discount through any insurance provider. However, if you are shopping for a new, replacement policy, then Policygenius may have rates from other insurance providers that are currently lower than your current rates.
Compare Insurance Quotes With Policygenius: A Great Tool to Start with
When compared to its alternatives in the niche field of insurance analysis platforms, Policygenius clearly comes out on top. With the company’s wide variety of insurance types offered for policy quoting, Policygenius allows users to have a one-stop-shop for every policy they would need or want to invest in. Compared to competitors, Policygenius also has a great customer review ratio with their user experience reviews, while also being entirely free to users. So, if you’re shopping around for more affordable insurance, you should definitely check Policygenius out.
If you’re on the hunt for affordable insurance, the comprehensive Policygenius is a great place to start. It is one of the most effective insurance comparison tools out there, and the additional tools it offers can put you on better financial footing as well. In addition to their comparison and calculator tools, Policygenius also provides necessary education resources that are helpful for everyone. So, check out Policygenius today and find the insurance coverage you need.
Thanks for reading our Policygenius review.