Insurance marketplaces promise a convenient shopping experience. You fill out one form and gather quotes from dozens of insurance providers.
Unfortunately, this process — while convenient — can have two drawbacks you may not know about. First, you may be compromising the privacy of your personal information. And second, the quote engine may not be impartial. Some of the companies that offer “comparisons” only show quotes for their own subsidiaries.
Privacy concerns. Many insurance marketplaces compromise your privacy in exchange for quotes. Here’s how it works. You provide your information and, behind the scenes, the marketplace sells your data to multiple competing insurers. That can prompt a flood of sales calls and emails headed your way, which can continue for weeks or months.
Our model is different. We deliver on the convenience without the compromise. You fill out one form and we supply multiple independent quotes. We also provide everything you need to choose the right insurance policy and provider — including provider scores, comparisons, and reviews.
But we don’t resell your contact information multiple times. We only pass along your personal information once, to the insurance company you select or the agency providing that insurer.
Impartial quote comparisons. At Honest Policy, we don’t write insurance and we don’t have subsidiaries that write insurance. We don’t push you to a policy decision that benefits us – we want you to buy the insurance that benefits you.
What we offer
Honest Policy currently offers these lines of insurance:
- Auto insurance
- Homeowners insurance
- Condo insurance
- Renters insurance
We are in the process of expanding our offerings to include:
- Life insurance
- Motorcycle insurance
- Dwelling fire insurance
- Umbrella coverage
- Flood insurance
- Travel insurance
- Legal insurance
- Pet insurance
- Mobile home insurance
- Travel trailer / RV / boat insurance
- Snowmobile / ATV / golf cart insurance
- Event insurance
- Bicycle insurance
- Mexico auto coverage
- Classic car insurance
- Home warranty
- Hurricane deductible insurance
Why we’re different
At Honest Policy, we live up to our name. We are committed to protecting your data, providing transparent, understandable quotes, and advocating for your rights as a consumer.
1. Data protection
We use policy and technology to keep your personal information safe. First, our practice is to share your data with one company only — the one you select as your insurance provider.
Second, our systems are compliant with the SOC 2 security framework. SOC 2 stands for Systems and Organization Controls 2. SOC 2 compliance is required for software and service companies that handle sensitive data. That includes organizations in the areas of accounting, analytics, business intelligence, cloud computing, and customer management. Vendors of banks and other financial institutions must also maintain SOC 2 compliance.
The overarching goal of SOC 2 compliance is to prevent data breaches that put you at risk of identity theft. The framework defines standards for safeguarding customer data across five areas:
- Protection of data against unauthorized access
- Ongoing availability of systems so our employees can do their jobs
- Verification that systems operate as expected
- Implementation of added protections for confidential information
- Safeguarding sensitive information from unauthorized access
An outside auditor verifies our compliance with SOC 2 standards – and our dedication to best-in-class security standards.
2. Transparent quoting
You fill out one form with us to receive quotes from over 25 insurance providers across the US. Most of our customers won’t see a quote from every one of our insurers, however. On average, each request generates about five to seven quotes. You may see more or fewer than that — say two or four – most likely if your risk profile is non-standard or your state has low population or high risk factors.
As part of the quoting process, we’ll help you compare providers with objective, standardized information so you can choose your best match.
For each insurer, we show you:
- Monthly premium
- Key coverage limits
- Insurer’s Smart Score: An aggregate score on the insurance provider that considers customer reviews, claim processing, financial stability, and value for the price.
- Quick comparisons: Select multiple insurance providers and compare them side-by-side on Smart Score and coverages. You can also drill down from Smart Score to review customer service scores, claims scores, value scores, and complaint frequency for each insurance provider.
Smart Score is an overall measure of quality for an insurance company. The scale ranges up to 100. The highest quality providers will have higher scores, and the lowest quality providers generally score near 50. Average scores are around 70.
The data that informs Smart Score include customer reviews, official complaints, financial information on the insurer, and third party insurance industry ratings.
Our service score quantifies customer experience with an insurance provider, both in person and when using the insurer’s website or app.
To calculate service scores, we look at user reviews plus third-party data from companies like JD Power, Insure.com, and Consumer Reports.
The claims process score measures the customer experience with resolving claims, including ease of claim filing, resolution time, and outcomes.
The data behind the score comes from user reviews, official complaints filed with the National Association of Insurance Commissioners, and third-party sources including JD Power, Insure.com, and Consumer Reports.
Value score quantifies customer satisfaction on the premium cost relative to the overall experience working with an insurance provider.
We rely on information from our own customer reviews as well as sources such as JD Power, Insure.com, Clearsurance, and Consumer Reports to calculate value scores.
3. Committed to consumer advocacy
Your insurance provider is a wealth partner that protects your most valuable assets. Our mission is to help you choose the right provider and the right coverages with objective, educational information you can trust — while handling your personal information with care.
To show our commitment to that mission and to the communities we serve, Honest Policy is transitioning to a Public Benefit Corporation or (B-corporation.) B-corps are driven by mission over profit. To gain and keep B-corp status, we must demonstrate and certify positive social and environmental impact.
You can learn more about B-corporation standards at the certification website Bcorporation.net
Honest Policy, a better insurance shopping experience
We’re remaking the insurance shopping process to incorporate higher standards of transparency and information handling. Join us and experience the safer, smarter way to buy insurance.