Electric vs. Alfa Insurance

Which insurance provider is right for you? Compare rates, discounts, and quotes from Electric and Alfa.

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Electric vs. Alfa: What You Need to Know

The history of Electric Insurance Company began in 1927, when EMLICO, its former company was established to provide GE (General Electric Company) with Workers’ Compensation insurance in Massachusetts. The company was doing so well that it started providing coverage nationally for GE and also included general liability and commercial auto in its product portfolio. By 1966, Electric Insurance Company was formed to ensure GE employees, but after a while, it expanded its business to all consumers. During the 1990s the company becomes one of the first P&C carriers to offer consumers web-based insurance quotes. Today, Electric Insurance manages approximately $160 million in personal lines premiums for nearly 135,000 policyholders and has about $450 million in total written premium. Its services are offered in all 50 states directly via mobile applications and the web and through independent agencies. Its consumer base is 60% of GE employees and 40% general customers.

In 1946 John Tucker Harris, President of the Lee County Farm Association and respected farmer in Alabama, founded Alfa as the product of the Alabama Farmers Federation. He wanted to offer superior fire insurance to federation members, who were mainly farmers. Today, Alfa is a much larger enterprise and offers more than just fire insurance. They offer coverages to over 1 million customers in 11 states: Alabama, Mississippi, Georgia, Texas, Missouri, Indiana, Ohio, Virginia, Tennessee, Arkansas, Kentucky, Florida, and North Carolina. It is still affiliated with Alabama Farmers. Alfa’s vision for the future is to focus on technology to enhance productivity and better serve customers. The company also plans to invest heavily in product and geographic expansion.

Below is a list of average rates, rankings, products, and discounts for the two companies. For full company overviews, you can visit Electric Overview and ALFA Overview.

Electric vs. ALFA: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Electric and ALFA. On average, Electric charges approximately $248.73 per month while ALFA comes in at around $198.42 per month. For Electric, the cheapest state average is Missouri at $194.02 per month and the most expensive is Virginia at $354.38 per month. For ALFA, the cheapest state average is Virginia at $125.15 per month and the most expensive is Georgia at $225.52 per month.

Electric

Average Rate

$248.73
ALFA

Average Rate

$198.42
National

Average Rate

$120.30
State Electric ALFA
Alabama- $187.49
Arkansas- $191.78
Connecticut $196.83 -
Georgia- $225.52
Kansas $232.43 -
Kentucky $229.11 -
Maine $208.00 -
Mississippi- $187.20
Missouri $194.02 -
Virginia $354.38 $125.15

Electric vs. ALFA: Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Electric and ALFA typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Electric ALFA
1 Vehicle $234.60 $183.43
2 Vehicles $302.23 $254.72
3 Vehicles $434.14 $382.99

Electric vs. ALFA: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Electric charges $220.53 per month and ALFA charges $187.62 per month for customers who own their home.

Own/Rent Electric ALFA
Own $220.53 $187.62
Rent $260.96 $203.13

What is Electric and Alfa Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Electric and Alfa ranked among the industry ratings.

ComparisonElectricAlfa
Year Founded19661946
Market Share0.12%
A.M. Best RatingAA
BBB RatingA+
Financial StrengthExcellentExcellent
NAIC Complaint Ratio0.82

Electric or Alfa: Insurance Products Offered

What coverage is available through Electric and Alfa? Both insurance companies offer Auto, Home, Renters, and RV insurance. Additional products from Alfa insurance also includes Commercial, Farm, Health, and Life insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit Electric and ALFA Insurance page.

InsuranceElectricAlfa
Auto Insurance
Commercial Insurance
Condo Insurance
Farm Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Electric or Alfa: Ways To Save

Alfa offers a wide range of discounts to its policyholders, including Burglar Alarm, Claims-free, and Defensive Driver discounts. In contrast, Electric also offers a few discounts that Alfa doesn’t including Student-Away-from-Home, Safety Features, and Safe Driver discounts. Start taking advantage of discounts offered by insurance providers like Alfa and Electric insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

ElectricAlfa
Accident-free DiscountAirbags Discount
Driver Training CreditBurglar Alarm Discount
Electric and Hybrid Vehicles DiscountClaims-free Discount
Employer Group DiscountsDefensive Driver Discount
Family & Friends Referral DiscountDriver Education
Good Student DiscountDriver Training Discounts
Low Annual Mileage DiscountGood Student Discount
Married Status DiscountHome and Auto Bundle Discount
Mature Driver Accident Prevention Course DiscountHomeowner Discount
Multi-policy DiscountMulti-car Discount
New Auto Insurance Customer DiscountMulti-policy Discount
New Vehicle DiscountSmoke Alarm Discount
Passive RestraintsTeacher Discount
Payment-in-full DiscountYouth Defensive Driver Test
Plan Ahead (Early Purchase) DiscountYouth Safety Test
Safe Driver Discount
Safety Features Discount
Student-Away-from-Home Discount

Pros & Cons of Electric & Alfa

Pros

Electric
  • Long list of discounts
  • Additional dedicated discount for General Electric employees
  • Provides the convenience of starting a claim online
Alfa
  • Very low customer complaints.
  • Excellent financial strength means reliability in getting claims paid.
  • It’s easy to report a claim - the company has a 24/7/365 service available and you can start the claim process through phone, online, fax or mail.

Cons

Electric
  • Confusing website information: the company lists the products, benefits and discounts offered in different web pages making it difficult to get a full scope on what is offered.
Alfa
  • Very low customer complaints.
  • Excellent financial strength means reliability in getting claims paid.
  • It’s easy to report a claim - the company has a 24/7/365 service available and you can start the claim process through phone, online, fax or mail.

Electric or Alfa Mobile Apps Options

The Always On Mobile app is available for iOS and Android. This mobile app can help you to view your auto insurance information, report an auto claim, upload photos of the vehicle damage, access 24 hours / 7 days a week emergency roadside assistance services, schedule glass repair and much more.

Alfa2Go® Mobile App is available for iOS and Android. This mobile app provides you access to manage your policies, pay your bill, report a claim, view your ID card and take advantage of exclusive member benefits (Alabama only).

Electric Mobile App
iOS     12 user reviews
Android     1.934 user reviews
Alfa Mobile App
iOS     4.71.9 user reviews
Android     3.7251 user reviews

Electric & Alfa Contact Info

Electric Contact Info
Address75 Sam Fonzo Drive, Beverly, MA 01915
Phone1-800-342-5342
Websitehttps://eic.electricinsurance.com/
Facebookhttps://www.facebook.com/ElectricInsuranceCompany/
Twitterhttps://twitter.com/ElectricInsCo
Youtubehttps://www.youtube.com/channel/UC2YooRh-4qPtDgZvFHdFMIw
Linkedinhttps://www.linkedin.com/company/electricinsurancecompany/
Alfa Contact Info
AddressP.O. Box 11000, Montgomery, AL 36191-0001
Phone1-800-964-2532
Websitehttps://www.alfainsurance.com/
Facebookhttps://www.facebook.com/AlfaInsurance
Youtubehttps://www.youtube.com/user/AlfaInsurance
Twitterhttps://twitter.com/Alfa_Insurance

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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