The Hartford Overview
The Harford Financial Services Group, Inc. is a publically traded company (NYSE: HIG) and headquartered in Hartford, Connecticut. Founded in 1810 as Hartford Fire Insurance Company, it has grown to one of the largest insurers in the United States and employs over 20,000 people.
Known primarily as The Hartford, they operate both an insurance business as well as a financial services business. Their model makes use of third-party agents that are contracted to sell their products to consumers and business owners.
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The Hartford Companies
As with most insurance companies, The Hartford operates a number of subsidiaries. Here is a list of some of the companies associated with The Hartford, past and present:
- The Hartford Financial Services Group, Inc.
- Hartford Fire Insurance Company
- The Hartford Accident and Indemnity Company
- The Columbian National Life Insurance Company
- ITT Corporation
- ITT-Hartford Group, Inc.
- Hartford Life
- CAN Financial
- American Maturity Life Insurance Company
- First State Insurance Company
- Hartford Casualty Insurance Company
- Hartford Insurance Company of Illinois
- Hartford Insurance Company of the Midwest
- Hartford Insurance Company of the Southeast
- Hartford Life and Accident Insurance Company
- Hartford Life and Annuity Insurance Company
The Hartford Products
The Hartford is a full service insurance and financial company that offers a comprehensive list of both individual and business related products. Here is a list of their most popular offerings:
- Auto Insurance
- Homeowners Insurance
- Renters Insurance
- Condo Insurance
- Term Life Insurance
- Universal Life Insurance
- Whole Life Insurance
- Variable Universal Life Insurance
- Disability Insurance
- Mutual Funds
- College Savings Plans
- Individual Retirement Accounts (IRA)
- Business Owners Policy
- Workers Comp
- General Liability
- Commercial Auto
The Hartford Rates
Our rate test showed that a 30-year-old married couple could get coverage for $196 a month, which is about $8 higher than the average price we have received on our tests.
Their online quote system was fairly straightforward and easy to use. They ask the basic questions you will find on most other online quote systems, and allow you to customize your quote at the end if you do not like the pre-populated ones they provide.
The Hartford Claim Process (Auto)
If you have car insurance with The Hartford, the claims process after an accident is pretty straightforward. You can call their claims hotline or fill out a questionnaire on their website, either will get the claim started.
The Hartford has what they call the “Catastrophe Information Center” on the website that offers useful info about what to do in the event of an accident. There are different checklists for each type of insurance coverage, and could be useful if printed out and kept in a vehicle.
The Hartford Better Business Bureau
The Hartford currently maintains an A+ rating with the Better Business Bureau, and is not accredited with the organization. They have 356 complaints that have been filed in the last three years, and 125 in the previous 12 months. Of the 356 complaints, 278 have been resolved with BBB assistance, two are unresolved, and 76 were not fixed to the customers liking, but the BBB has determined that The Hartford made a good faith effort to solve it.
The primary issue reported was problems with the product or service.
The Hartford Overall Rating
The Hartford has a long history of being financially sound and provides a comprehensive list of different insurance and financial products. Their online quoting system is easy to use and compared to similar insurance providers like Nationwide and Erie Insurance, their rates are lower according to our quote test.
Even though their auto insurance quote came back lower than some of the other insurance companies we have tested, they were still quite a bit higher than the direct insurers like GEICO and Progressive. Additionally, it appears they use primarily third party agents to sell their products, which means there is an extra level of commission that must be factored into their pricing, thus driving it up.
The Hartford appears to be a good choice for someone with a complicated insurance portfolio and is looking for a balance between price and service. By packaging multiple policies with The Hartford, you can qualify for multi-policy discounts and drive your costs down.
The Harford Financial Services Group, Inc. is a publically traded company (NYSE: HIG) and headquartered in Hartford, Co…
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About the Author
I am a former insurance agent turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.