First Acceptance Insurance Corporation (FAIC) is a prominent provider of non-standard auto insurance in the United States. With over 2 million policyholders, the company has established itself as a trusted partner for drivers who may have difficulty obtaining insurance through traditional channels. Founded in 1996, FAIC has a rich history of catering to high-risk drivers and has expanded its reach to 17 states, offering a diverse range of insurance products and services. In this comprehensive guide, we will delve into the intricacies of First Acceptance Insurance, including its history, products, services, customer experiences, and more.
History of First Acceptance Insurance
First Acceptance Insurance traces its roots back to 1996 when it began operations in Dallas, Texas. The company was founded with a focus on providing coverage to high-risk drivers who were facing difficulties obtaining insurance due to factors like poor driving records, lack of driving history, or limited credit scores. This niche market approach proved successful, leading to rapid expansion across various states.
One of the key milestones in FAIC’s history was its acquisition by Diamond A Ford Corporation in 2004. This strategic move provided the company with significant financial backing and helped accelerate its growth. In 2016, FAIC was acquired by Opus Financial Partners, further strengthening its position in the non-standard auto insurance market.
Today, First Acceptance Insurance has a presence in 17 states, including Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Mississippi, Missouri, Nevada, Ohio, Pennsylvania, South Carolina, Tennessee, and Texas. The company continues to expand its reach, aiming to provide comprehensive coverage to high-risk drivers across the nation.
Range of Insurance Services Offered
FAIC’s core business revolves around providing non-standard auto insurance to high-risk drivers. However, the company also offers other insurance products and services that cater to the needs of its diverse customer base. Let’s take a closer look at the range of insurance services offered by First Acceptance Insurance.
Auto Insurance
FAIC offers comprehensive auto insurance coverage for drivers who may have difficulty obtaining insurance through traditional channels. Their policies cover bodily injury liability, property damage liability, collision, and comprehensive coverage. The company also provides options for uninsured/underinsured motorist coverage and personal injury protection.
One of the key benefits of FAIC’s auto insurance is its flexibility in accepting high-risk drivers. This means that even if you have a poor driving record or lack a driving history, you are still eligible for coverage. Additionally, FAIC also offers several discounts, such as multi-car, good student, and safe driver discounts, making it an affordable option for many.
Motorcycle Insurance
Along with auto insurance, FAIC also offers specialized motorcycle insurance coverage. Their policies provide protection for bodily injury and property damage liability, as well as coverage for your motorcycle in case of theft, vandalism, or accidents. Similar to their auto insurance, FAIC’s motorcycle insurance also comes with different discounts, including multi-vehicle, responsible driver, and mature rider discounts.
Homeowners Insurance
First Acceptance Insurance also offers homeowners insurance to protect your most valuable asset. Their policies cover damages to your home and personal property, as well as liability for accidents that occur on your property. Additionally, they also provide options for additional coverage, such as earthquake and flood insurance.
Renters Insurance
For those who do not own a home, FAIC offers renters insurance to protect your personal belongings in case of theft, fire, or other covered events. Their policies also cover liability for accidents that occur in your rental unit. With affordable premiums and customizable coverage options, FAIC’s renters insurance is a popular choice among tenants.
Commercial Auto Insurance
In addition to personal insurance, FAIC also offers commercial auto insurance for businesses that use vehicles for their operations. Their policies include liability coverage and physical damage coverage for owned, non-owned, or hired vehicles. With flexible payment plans and options for additional coverage, FAIC’s commercial auto insurance is a reliable choice for business owners.
Benefits of Comprehensive Coverage
One of the key advantages of choosing First Acceptance Insurance is the comprehensive coverage offered by their policies. Here are some of the benefits of opting for FAIC’s insurance services:
Protection from Financial Losses
Accidents can happen at any time, and they can result in significant financial losses. With FAIC’s comprehensive coverage, you can rest assured knowing that your insurance policy will cover most of the expenses associated with an accident. This includes covering damages to your vehicle, medical expenses, and legal costs if you are held liable for the accident.
Affordable Premiums
FAIC’s focus on high-risk drivers does not mean that their premiums are unaffordable. In fact, their policies come with various discounts and customizable coverage options, making it possible for drivers with limited budgets to obtain quality coverage.
Flexibility in Accepting High-Risk Drivers
Traditional insurance companies often have strict eligibility requirements, making it difficult for high-risk drivers to obtain coverage. However, FAIC’s approach is different. They understand that everyone makes mistakes and may have difficulties obtaining insurance through traditional channels. That’s why they offer flexibility in accepting high-risk drivers, providing them with an opportunity to get back on the road with proper coverage.
Customer Testimonials
The true testament of an insurance company’s services lies in the experiences of their customers. Let’s take a look at what some of First Acceptance Insurance’s policyholders have to say about their experiences.
“I have been a customer of FAIC for over 5 years now, and I couldn’t be happier with their services. As a high-risk driver, I have had difficulty obtaining insurance in the past, but FAIC provided me with affordable coverage and excellent customer service. I highly recommend them to anyone looking for non-standard auto insurance.” – John D.
“I recently had an accident, and FAIC’s claims process was smooth and hassle-free. They took care of everything, from arranging a rental car to repairing my vehicle. I am grateful for their quick and efficient service.” – Sarah M.
“I was initially hesitant to choose FAIC as my insurer due to my poor driving record. But after speaking with one of their agents, I decided to give them a chance. I am glad I did because I have saved a significant amount on my premiums, and their customer service has been exceptional.” – Michael S.
Why First Acceptance Insurance is a Trusted Partner
With numerous insurance companies in the market, it can be challenging to find a trusted partner for your insurance needs. Here are some reasons why First Acceptance Insurance stands out as a reliable choice:
Expertise in Non-Standard Auto Insurance
FAIC’s 25 years in business have enabled them to become experts in the non-standard auto insurance market. They understand the unique needs of high-risk drivers and offer tailored solutions to cater to their requirements.
Strong Financial Backing
First Acceptance Insurance’s acquisition by Opus Financial Partners has provided them with significant financial backing. This ensures that the company has the resources to provide quality services and meet their customers’ needs.
Excellent Customer Service
FAIC prides itself on its commitment to providing exceptional customer service. Their agents are knowledgeable and dedicated to helping policyholders with any queries or concerns they may have. Additionally, their claims process is quick and efficient, making it easier for customers to get back on the road after an accident.
Conclusion
In conclusion, First Acceptance Insurance is a reputable and trustworthy insurance provider that caters to high-risk drivers in the United States. With a rich history, a diverse range of insurance services, and a focus on comprehensive coverage, FAIC has established itself as a reliable choice for drivers who may have difficulty obtaining insurance through traditional channels. Whether you are a high-risk driver looking for quality coverage or seeking insights into the non-standard auto insurance market, FAIC is a trusted partner that you can count on.