The Hartford: Two Centuries and Still Going Strong
If you seek serious longevity in your automobile insurance company, The Hartford has what you are looking for. If you are looking for high-brow policy peers, Robert E. Lee (American Civil War commander of the Confederate forces), former presidents Abraham Lincoln and Dwight D. Eisenhower, baseball legend Babe Ruth, and even Buffalo Bill have all held insurance policies with this carrier.
The Hartford insurance company was founded in Hartford, Connecticut (where else) in 1810, making the company more than two centuries old. It was originally named the Hartford Fire Insurance Company by the founding group of local merchants. The company has survived the American Civil War and subsequent wars, and endured such domestic disasters as the New York fire of 1835, the Chicago fire of 1871 and the San Francisco earthquake and fire of 1906. After the terrorist attacks of 9/11, the company paid out over $850 million in gross losses and made large donations to the United Way and other causes. (www.thehartford.com)
The company, formally called The Hartford Financial Services Group (NYSE: HIG) began selling additional lines of insurance in 1913, offering private automobile and commercial policies. It added life insurance in the late 1950’s. It currently also offers homeowners insurance, group and employee benefits (medical as well as dental), annuities, college savings plans, mutual funds and other investment products.
As a Fortune 500 company, it is currently one of America’s largest insurance and investment companies. Reported revenues in 2010 were $22.4 billion dollars. As of April 2011, the company enjoys an “A” rating from A.M. Best, the leading independent insurance industry assessor. This is an “Excellent” rating and is “assigned to companies that have … an excellent ability to meet their ongoing insurance obligations” (ambest.com). Those obligations would include the ability to pay any outstanding insurance claims.
This insurance company does not expend the effort on popular mass-marketing that other U.S. insurers do: consider GEICO’s gecko, Allstate’s Mayhem, and Progressive’s girl Flo. Their marketing efforts have a slightly more serious tone. Nevertheless, the noble Hartford Stag is a recognized brand symbol, as it has been in one form or another since the 1860’s.
The Hartford is involved in a variety of philanthropic efforts, and the company does have a long-standing sponsorship of the U.S. Paralympics. The company also has the endorsement of the AARP for its automobile and homeowners policies. It does business in Brazil, Canada, Ireland, Japan and the U.K. as well as the United States.
Whether you are an investor, or shopping around for an automobile insurance policy, this seems to be a company to keep your eye on. Before you make a final decision about which company to purchase a policy from, make sure to get a quote from this one also. Quotes are free and you might be pleasantly surprised.
If you have even worked for The Hartford or had a policy with them, our readers would love to hear from you. What did you think about the company? What did you like or dislike about it. How was the customer service. Please share your insights or personal story with the rest of our insurance community. Just fill out the web-form below to get started. Thank you.
This article is written for informational purposes and is not intended to take the place of competent local legal counsel. The writer is not associated with this insurance company or any of its affiliates.
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Other articles that may be of interest you:
Why Bother With Buying Automobile Insurance?
What To Do When You Have Been Involved In An Accident
The Insurance Company Claims Process Explained
GAP Coverage Explained
An Explanation of the Differences Between First Party and Third Party Insurance Claims
Personal Umbrella Policies (PUPs)
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from The Hartford to Insurance Claims Help For You Home Page