Lancer Insurance Review – A Must-Read

Lancer Insurance Company is one of those automobile insurance providers that believe in specializing and value-adding for the customers.

You would see a variety of services that may not strictly relate to each other. The wide portfolio of its insurance packages includes automobile insurance – which is its primary function, commercial garages and driving schools, explosives, trucking, and marine license insurance. 

As we can see, automobile and transportation make the key areas of its focus. 

So, how well does it execute its functions? Let’s see in detail! 

Company Background

The company was established in 1945 as an auto insurer. The company started its robust growth in 195 when it included the operations of bus insurance in its portfolio. Since then, it is growing its operations tremendously much to the pleasure of the commercial transportation industry.

Other than its commitment to quality, it also performs well as a corporate citizen. It believes in giving back to its community through donations to certain causes.

Lancer Insurance Review

Salient Features

If you are wondering about the level of Lancer Insurance services, we have gotten you covered.

The following paragraphs analyze its financial performance, customer services and claim processing, and the variety of packages it offers.

Financial Strength

The company appears fairly stable in terms of finances and assets. It maintains a strong asset to liability ratio making it able to process the customers’ claims as and when they arise.

We can see that the company attracts a positive rating from the insurance provider’s credit rating agency – AM Best. The rating agency gives Lancer Insurance a rating of A- (or Excellent) for its financial strength rating. Plus, according to the same rating agency, its Lancer Insurance rating for long-term credit remains at a- (Excellent). The agency concludes that the insurance provider’s financial area appears stable.

Customer Care

Unfortunately, the company is not accredited with the largest business community watchdog, Better Business Bureau (BBB). This lack of accreditation leaves much room of anticipation and assumption and leaves customers confused about the customer care potential of Lancer Insurance.

Consequently, we have to rely on the Lancer Insurance reviews its clients have posted online. Again, the company shows poor performance in the form of low ratings from customers. The online customer review forum – Yelp! – has a 1-star rating for this company which is abysmal.

In short, the customer care reviews of this company warn most people to proceed with caution with this insurance provider.

Variety of Services

One key reason for which this company is an attraction for its customers is its variety of services. As we have already mentioned, it offers many services including auto insurance.

Mostly, businesses that operate in the commercial transportation niche use this company to mitigate the risk of their operations. These commercial insurance options include:

Bus insurance,

Long-haul trucking insurance,

Driving school,

Excess automobile liability,

Commercial explosives, and

Marine license insurance.  

Wrap Up

Incorporated in 1945, Lancer Insurance Company is serving the nation for quite some time. It has specialized in the transportation industry and caters to both individual and commercial auto –insurance needs.

However, as we can see from the offered portfolio of insurance products, the company is more focused on commercial clients than on its individual clients. This priority shows in the reviews it has gathered online.

If you are an individual looking to get the best insurance policy for your personal use, know that understanding the policy terms make a crucial step towards profitable insurance shopping.

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