Alea Auto Insurance Review

Alea was one of many auto insurance companies some time ago writing insurance policies for private passenger vehicles, commercial insurance customers, and property owners. Alea is long gone, today, but their parent company, Catalina Holdings, is still around, so that’s the company that this review intends to focus on.

Make sure to take the time to get some free auto insurance quotes from our search engine to ensure that you’re getting the very best possible deal on your car insurance. Just type in your ZIP code and let the FREE quote finder do the rest. You may or may not wind up with a policy covered by Catalina Holdings, but you will get a good price.

What Do Catalina Holdings Insure?

Catalina Holdings is not a traditional insurance company in the sense of offering car insurance and so on, but rather, a reinsurance and insurance company. They offer a wide range of different auto insurance policies policies but mainly specialize in covering other insurance companies with insurance policies.

Chances are, you are never going to have to buy a policy directly from Catalina Holdings, but, you may well be buying an insurance policy from a company that is covered by Catalina Holdings. Catalina Holdings work in a wide range of categories of insurance covering just about everything except life insurance policies. This means that they do offer policies for companies that sell cheap auto insurance.

Catalina Holdings are stationed in Bermuda, of all places, offering insurance policies to a global market. They have offices in as far reaching places as New York and London, covering everything from auto to medical insurance.

Why Should I Care About Reinsurance?

The thing about reinsurance is that it really doesn’t seem to affect the consumer, and it doesn’t really affect your purchasing decisions, of course. You’re just looking for a great price on a good insurance package, and it doesn’t really matter how your insurer gets that to you just so long as they do, in fact, deliver.

Well, reinsurance is just one of the ways that your insurance provider can deliver on their promises of great coverage at a reasonable price.

Low prices and security only come with a degree of financial stability. Some smaller companies simply cannot afford to charge less considering their smaller holdings, or they can’t afford to offer a great policy. If they do, they might not have the funds to cover it.

That’s where reinsurance comes in. In the event that your insurance provider cannot cover your policy, the reinsurance company will. In that sense, it truly is “reinsurance” in that your insurance is being insured. It’s like having two insurance policies in one.

This is of extreme importance to companies who have to cover a lot of insurance policies all at once. For instance, after a major auto accident involving dozens of cars all with the same provider. Even if an insurance company can cover this, financially speaking, they might have a policy in place that covers them from such huge losses.

Comparing the Quotes

You don’t need to worry too much about reinsurance, yourself, rather, just keep an eye out for insurance companies who earn top ratings from groups like AM Best.

An A+ or A++ usually implies a company that has plenty of financial backing both from their own holdings and through their reinsurance provider.

Again, be sure to just do a lot of shopping around. Compare plenty of quotes with our FREE search engine so that you can find the best insurance provider for your needs in your ZIP code. You don’t need to know the name of your provider’s reinsurance company, but knowing that they have an A rating or better implies that they’ve got it covered.