Insura Auto Insurance Review

This Insura Auto Insurance Review looks at Addison, Texas-based Insura/Affirmative Insurance Holdings, Inc.  Compare quotes from multiple auto insurance companies today with our FREE quote comparison tool! Insura/Affirmative writes auto insurance for nonstandard, higher-risk drivers.

Drivers with a history of accidents, moving violations, or lapsed auto insurance may qualify for insurance offered by Insura/Affirmative and its subsidiaries.

The company is publicly owned; the shares trade on NASDAQ (Symbol: AFFM). The company’s ultimate parent is New Affirmative , LLC, also located in Addison, Texas. Comparing auto insurance quotes is made fast, easy and FREE by entering your home ZIP code now!

Insura Auto Insurance and High-Risk Drivers

Insura/Affirmative underwrites both minimum and full-coverage liability insurance for nonstandard drivers.

“High risk” may reflect the person’s age, driving record, or immigration status. Insura/Affirmative writes auto insurance in 10 states and direct-markets its insurance products and services.

Retail storefronts, including Driver’s Choice, USAgencies, A-Affordable, and InsureOne, are owned by Insura/Affirmative. The company also uses a small number of independent, non-affiliate insurance agents to market affordable auto insurance coverage.

Insura Auto Insurance Operating Structure

J.C. Flowers & Co., LLC, an independent investment company headquartered in New York City, owns approximately half of Insura/Affirmative Insurance.

In better economic times, the company purchased retail locations to expand its storefront operations. In 2007, the company purchased USAgencies, headquartered in Baton Rouge, Louisiana, for approximately $200 million. The acquisition provided Insura/Affirmative Insurance with more than 90 retail stores in Illinois, Alabama, and Louisiana.

Insura Auto Insurance Plans

Insura/Affirmative targets high-risk drivers with limited financial resources. Auto insurance plans may include add-on services, such as reimbursement of towing or rental car services.

Flexible auto insurance costs, including premium financing and installment options, may cost the company’s client’s more over the insurance contract term.

The company also offers some auto insurance discounts, as well as standard auto insurance, offered by other insurers at its retail locations.

Insurance Auto Insurance History

Insura/Affirmative was once owned by Alabama-headquartered Vesta Insurance Group. Insura/Affirmative was spun off as an Initial Public Offering by Vesta in 2004. Vesta’s remaining interest in the company was sold to investment firm J.C. Flowers & Co., LLC.

Based on auto insurance reviews, Vesta Insurance Group was declared insolvent by insurance regulators in Alabama, Florida, Texas, and Hawaii within two years. Vesta’s shares once traded on the New York Stock Exchange. The company failed to file required reports with the NYSE for two years, and the shares were delisted. In 2006, as Vesta Insurance’s woes came to light, AA-rated reinsurance companies supported the company’s ability to pay client claims.

Insura Auto Insurance Markets

According to Dun & Bradstreet, Affirmative Insurance Holdings and its operating units hold licenses to market insurance in approximately 40 states.

However, the company most actively markets insurance in fewer markets, including Illinois, Texas, California, Louisiana, Missouri, South Carolina, Wisconsin, Indiana, Alabama, and Wisconsin.

The company says the auto insurance laws in Florida prompted withdrawal from the Florida marketplace. In 2010, the company sold retail stores in that state and shuttered its operations there.

Insura/Affirmative Insurance reported sales of approximately $425.8 million in 2010 but lost approximately $89 million in net income over the fiscal year. Compare quotes from Insura and other companies for FREE with our quote comparison tool!

Many providers offer access to nonstandard auto insurance, so make sure to compare a variety of insurance quotes to find the best insurance program or service for your needs. Requesting auto insurance quotes has never been easier. Type your home ZIP code into our 100% FREE online tool to receive fast auto insurance quotes to save you money today!