QBE Insurance Review & Complaints: Commercial, Auto & Home Insurance

QBE Insurance is an Australian company that offers auto, home, and business insurance in the U.S. QBE insurance ratings are a D- with Better Business Bureau, but an A+ with A.M. Best. QBE insurance quotes are not offered online, and there is no information regarding QBE insurance rates available, but you can compare car insurance quotes for free here.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His 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.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Jul 19, 2021

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QBE Insurance

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If you have been looking for QBE insurance reviews, then you’ve found the right place for extensive information and information on their place in the insurance industry. QBE Insurance Corporation is a global company founded in Australia more than 125 years ago. Although the company has a main focus on commercial insurance as an insurance provider, QBE does also offer a few products for individuals such as car insurance coverage and home insurance.

Are you searching for auto insurance quotes before reading QBE reviews, enter your ZIP code in the FREE comparison tool above to find affordable auto insurance in your area. If you want to learn more about QBE, continue reading.

What is QBE Insurance?

QBE Insurance Company was founded in 1886 as the North Queensland Insurance Co. Limited in Australia. In 1921 the Banker’s and Trader’s Insurance Co. was formed, and in 1959 the company acquired Equitable Probate and General Insurance Co. These three company names were combined to finalize the name QBE. Today, the company is Australia’s largest general insurer and has a branch in North America.

In 1991 QBE opened the doors of their North American branch. In the U.S., they offer both business and personal property & casualty insurance, specialty coverage including accident and health, crop insurance, and coverage for financial institutions. In 2015 QBE scaled back their North American operations by selling their underwriter-agency business to Alliant and their mortgage and lenders products to National General insurance.

You can buy QBE insurance, particularly property & casualty, through independent agents and brokers. While insurance quotes from QBE insurance aren’t offered online, the company does offer an online service for bill payment. Unfortunately, since quotes are not available as an online service, it means QBE insurance rates are not readily available for those trying to comparison shop.

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What Products are Offered?

As previously mentioned, QBE offers mainly commercial products but it does have a few personal products, including auto insurance and home insurance.

Does QBE Sell Auto Insurance?

QBE’s FlexAuto program is designed to reward good drivers and help keep rates down. According to the website, eligible drivers are determined by driving records and other characteristics. The website does not go into much detail regarding the program or suitable driver characteristics.

From what is provided, the FlexAuto program includes the following:

  • Bodily injury
  • Property damage
  • Medical payments/Personal Injury Protection
  • Physical damage
  • Uninsured/underinsured motorists

Optional add-ons or additional coverage options include:

  • Towing and labor
  • Audio/visual equipment
  • Transportation expenses

QBE does have an Accident Forgiveness program. Drivers with 4 years of continuous coverage who have had 3 consecutive years without a chargeable accident qualify to have the accident surcharge waived should they become involved in an accident.

They also offer a list of standard discounts such as:

  • Good student discount
  • Proactive customer discount
  • Passive restraint discount
  • Longevity discount
  • Accident/violation-free discount
  • Multi-policy discount

Does QBE sell home insurance?

QBE offers the following types of coverage in multiple levels of homeowner’s insurance. You can get QBE condo insurance and renters insurance coverage through their FlexHome program.

  • FlexHome Value is the most basic policy intended for those with basic needs or seeking to obtain coverage on a budget.
  • FlexHome Plus is a more comprehensive policy offering more coverage and higher limits.
  • FlexHome Ultra is the highest level of homeowner’s insurance, designed for those with higher value homes and a lot of property to protect.

The FlexHome Condominium policy is also available in a basic and Ultra version as well.

QBE home insurance reviews from customers are among the easiest to find online.

What additional products are available?

Overall, QBE is a specialty insurance company that provides various services. Let’s look at the different products below.

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Does the company sell business insurance?

QBE insures businesses large and small. Business coverage options include:

  • Crime
  • Commercial Inland Marine
  • Property and Business Income
  • Commercial Package
  • Commercial Umbrella
  • Farm Insurance

Does the company offer specialty insurance?

QBE does offer a variety of specialty insurance products which include some more unusual coverage options. These are:

  • Accident & Health
  • Aviation
  • Management Liability and Professional Lines
  • Cyber
  • Inland Marine
  • Surety

Ask about third party property insurance with QBE. Sometimes marine insurance can cover your personal property if it was damaged while on a marine vehicle.

What specialty products are offered?

QBE’s lineup also includes crop insurance, financial institutions coverage, and reinsurance products.

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Are QBE’s rates affordable?

Since online quoting is not available, it’s challenging when you are trying to compare QBE’s rates to other insurance companies. They advertise their rates as competitive, and it is clear from the website that they aim their auto insurance, particularly at low-risk drivers who do not have tickets or accidents.

Since their policies are sold through agents, QBE products will include the cost of commissions. They are unlikely to be competitive with direct-buy insurers.

How are Claims Processed?

QBE policyholders can report claims directly to their insurance agents or to QBE via a toll-free number. There are several numbers available based on which of QBE’s companies is responsible for the policy.

Although QBE does have some online services, there is no option to report a claim online, although it may be possible with a QBE login. This is unusual for such a large company.

QBE claims contact number is 1-844-723-2524.

QBE Insurance claims are handled similarly to most insurance companies an adjuster will call the policyholder to go over the facts of the incident, inspect the damage and investigate, and then determine benefits and a settlement.

QBE does not appear to offer any sort of online tracking of claims, which is again something we would expect to see from a large company. Policyholders can contact their agent or adjuster to follow up on claims status.

Are there any consumer complaints against the company?

QBE is not accredited by the Better Business Bureau (BBB) and has a D- rating.The BBB lists 12 complaints, four of which have been closed in the last 12 months, and 11 complaints regard issues with product and service. This rating is not favorable for a company to have. The Better Business Bureau states the poor rating results from a government action requiring QBE to refund homeowners who were improperly charged for fore-placed insurance policies. The government action was issued in September 2016.

Overall, there are not many reviews of the company available, possibly due to their heavy leaning towards commercial insurance. The complaints themselves don’t raise major red flags, but the entire picture of QBE’s reliability remains somewhat fuzzy due to the lack of reviews and recent government action.

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What are the company’s financial strength and credit ratings?

For insurance experts, the most reliable ratings come from the top financial strength and credit rating agencies such as A.M. Best, Fitch, and S&P Global. We’ve collected the ratings from each one of those agencies and provided the grades of QBE Insurance.

QBE Insurance Financial Strength and Credit Ratings
Rating CompanyGradeFinancial Outlook
A.M. BestAStable
FitchA-Stable
S&PA+Positive
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Despite the BBB’s rating, QBE appears to have a strong and stable financial outlook, according to A.M. Best. The best way to find out how reliable the company is to compare it to other companies.

QBE Insurance Review: What’s the Bottom Line?

QBE is a major insurance company in Australia and a big company overall. They are relatively unknown, especially in terms of personal lines insurance, in the U.S. Their personal lines products include only auto and home, and do seem to have some useful features and options for customers to get the right coverage for their needs. Low-risk customers may find their rates competitive, but most drivers will likely get better rates elsewhere.

With an overall lack of information about the products themselves, particularly auto, and no rate information, it’s hard to say whether or not affordable QBE insurance is available to most people. Customer reviews of the company are minimal, albeit negative, which leaves enough questions to make it difficult to recommend QBE.

Now that you’ve read all there is to know about QBE Insurance, it’s time to save on your own insurance.

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What are some frequently asked questions?

If you still have questions, we still have answers. Read our FAQ for more.

#1 – Is QBE a good insurance company?

Under the BBB, the company has performed poorly. However, A.M. Best, Fitch, and S&P Global rate the company as good or excellent. The best way to know is to compare the company with other companies in your area.

#2 – Who is QBE underwritten by?

QBE Insurance Group Limited underwrites QBE insurance policies.

#3 – What does QBE stand for in insurance?

QBE stands for Northern Queensland Insurance Company Limited.

#4 – Which insurance company is best at paying claims?

USAA Insurance Company is the best company as paying out claims.

#5 – How good is Geico’s home insurance?

Geico is one of the top-rated insurance companies in the United States, according to A.M. Best and J.D. Power.

#6 – What is the QBEPay Scam?

Consumers need to know about the QBEPay Scam charge. The QBEPay Scam is not associated with the QBE Insurance Company. If you’ve seen “QBE-AMERICAS-QBEPAY” on your bank statement, contact your banker immediately. Some of these charges come from the Democratic Republic of Congo.


References:

  1. https://www.bbb.org/new-york-city/business-reviews/insurance-companies/qbe-insurance-corporation-in-new-york-ny-109692/reviews-and-complaints
  2. http://news.ambest.com/presscontent.aspx?altsrc=3&RefNum=28171&URatingId=-1

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