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Pekin Insurance Summary
Pekin Insurance was created as The Farmers Automobile Insurance Company in Tazewell County, Illinois in 1921. The company was created by a group of several farmers who wanted to purchase car insurance but found the available options prohibitively expensive.
In 1932 the company introduced 24 hour claims service, a rarity in the industry at the time. They expanded to offer fire insurance in 1952, and then opened Pekin Life Insurance Company in 1965. Business products were later added to round out the company’s offerings.
Today Pekin Insurance writes life insurance policies in 21 states and offers a complete range of products in six states: Illinois, Arizona, Indiana, Iowa, Ohio, and Wisconsin. Their life and financial products have been expanded to include Pathways pre-need funeral plans available in eight states, annuity products, and Group Plan Solutions for companies who choose self-funded benefits.
Pekin Insurance products are sold through independent agents. The company’s headquarters are located in Pekin, Illinois, and there are service locations in all of the states where the full product range is sold, offering claims and customer service.
Pekin Insurance offers a broad selection of personal lines products as well as products for small businesses.
Their first product, the auto insurance policies available today from Pekin cover both standard and high-risk drivers. They cover a wide range of vehicles, including recreational vehicles, motorcycles, and classic/antique cars. Pekin auto policies are designed to be customizable to the needs of the driver to allow for flexibility in rates and deductibles. The company provides all state-mandated coverage as well as many coverage options to choose from.
Some of the coverage enhancements they offer include:
- A $0 deductible option for glass repairs
- Replacement cost protection for new vehicles
- Auto Guard, an endorsement that provides an extra package of protection including trip interruption, accidental airbag deployment coverage, key replacement, pet injury coverage, and extra towing and rental car coverage
- Roadside Rescue
Pekin also writes high-risk coverage for those with major violations who might have trouble finding coverage elsewhere.
Pekin Insurance writes standard homeowners insurance policies providing comprehensive coverage for homeowners. They also write policies for mobile and manufactured homes and for condominiums. Renters Insurance is also available. In addition to standard homeowners coverage, enhancements can be added to the policy such as:
- Identity theft coverage
- Water and sewer backup coverage
- Earthquake insurance
- Pet health insurance
- Equipment breakdown coverage
Products in the life insurance line from Pekin are available for any stage of life, all forms of coverage with varying premium options, and annuities as well. The various life policies to select from include:
- Preferred, Simplified, and Graded Death Benefit Whole Life
- Transitional Life
- Family Term Life
Also available are credit and debt insurance policies and a range of Pathways funeral preplanning options.
Pekin has a full range of small business products for many different types of business. Their products include:
- Businessowner’s package policies
- General Liability
- Business Auto
- Business Property coverage
- Worker’s Compensation
Pekin also offers small business benefits packages for employees, including group health insurance, dental insurance, and short-term disability.
In addition to their main product lines, Pekin writes boat insurance, motorcycle insurance, and RV insurance. They also have Medicare supplemental insurance products and disability for individuals.
Pekin does not offer online quoting, but instead provides a quote request form, which is directed to a local agent to complete the inquiry. Like most smaller insurance companies, Pekin rates may not always be comparable with national insurers, but the company does offer a long list of discounts to help reduce rates.
Pekin provides a variety of methods for filing a claim based on the type of policy. All of the contact information for claims is readily available on their website.
Auto, home, boat, and motorcycle claims can be filed through the online claims form. There is a separate link for filing an auto glass only repair claim through the Auto Glass Express system. These claims can also be submitted by phone or through an agent. Pekin has claims centers for personal lines policies in all six states served for local access.
Business, life, health, annuity, and credit claims must all be reported by phone to the correct call center. All of the phone numbers for these claims are easily located on the claims information page.
Pekin Insurance is a BBB accredited company, and has been since 1949. They currently hold an A+ rating through the BBB’s rating system. There are 19 reported complaints against the company in the past three years, with six complaints closed in the last 12 months. These numbers might be somewhat concerning for a company of this size.
There are currently no known government actions against Pekin Insurance on record. The Illinois Department of Insurance, the company’s home state, reports 15 complaints filed against Pekin in 2014, a ratio of 1.29 complaints per $1 million in policies. Four of these complaints were related to claims handling.
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Pekin Insurance offers a good range of products, making it a good choice for those who want a smaller, homegrown company with a product range comparable to a large company. For drivers with a good record and those who do not plan to buy multiple policies, rates are likely to be better elsewhere. High-risk drivers may want to consider Pekin as one of the insurance companies catering to those with difficulties on their record. Businesses looking to obtain coverage as well as benefits packages will find the Pekin offers a strong list of options.
For a list of companies that we recommend, visit our Best Insurance Companies page.