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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?
Electric vs. ALFA: Rates by Number of Vehicle
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 | $198.53 | $ |
Electric vs. ALFA: Rates by Homeownership
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.
| Comparison | Electric | Alfa |
|---|---|---|
| Year Founded | 1966 | 1946 |
| Market Share | 0.12% | |
| BBB Rating | A+ | |
| Financial Strength | Excellent | Excellent |
| NAIC Complaint Ratio | 0.82 |
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.
| Insurance | Electric | Alfa |
|---|---|---|
| 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.
| Electric | Alfa |
|---|---|
| Accident-free Discount | Airbags Discount |
| Driver Training Credit | Burglar Alarm Discount |
| Electric and Hybrid Vehicles Discount | Claims-free Discount |
| Employer Group Discounts | Defensive Driver Discount |
| Family & Friends Referral Discount | Driver Education |
| Good Student Discount | Driver Training Discounts |
| Low Annual Mileage Discount | Good Student Discount |
| Married Status Discount | Home and Auto Bundle Discount |
| Mature Driver Accident Prevention Course Discount | Homeowner Discount |
| Multi-policy Discount | Multi-car Discount |
| New Auto Insurance Customer Discount | Multi-policy Discount |
| New Vehicle Discount | Smoke Alarm Discount |
| Passive Restraints | Teacher Discount |
| Payment-in-full Discount | Youth Defensive Driver Test |
| Plan Ahead (Early Purchase) Discount | Youth 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 | 1 | 2 user reviews |
| Android | 1.9 | 34 user reviews |
| Alfa Mobile App | ||
|---|---|---|
| iOS | 4.7 | 1.9 user reviews |
| Android | 3.7 | 251 user reviews |
Electric & Alfa Contact Info
| Electric Contact Info | |
|---|---|
| Address | 75 Sam Fonzo Drive, Beverly, MA 01915 |
| Phone | 1-800-342-5342 |
| Website | https://eic.electricinsurance.com/ |
| https://www.facebook.com/ElectricInsuranceCompany/ | |
| https://twitter.com/ElectricInsCo | |
| Youtube | https://www.youtube.com/channel/UC2YooRh-4qPtDgZvFHdFMIw |
| https://www.linkedin.com/company/electricinsurancecompany/ | |
| Alfa Contact Info | |
|---|---|
| Address | P.O. Box 11000, Montgomery, AL 36191-0001 |
| Phone | 1-800-964-2532 |
| Website | https://www.alfainsurance.com/ |
| https://www.facebook.com/AlfaInsurance | |
| Youtube | https://www.youtube.com/user/AlfaInsurance |
| https://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.
Fran Majidi manages content on SmartFinancial's website. She's had nearly a decade's worth of experience writing about insurance-related topics. Prior, she was an arts and entertainment editor in New York City. She has a B.A. from Barnard College and an M.F.A. in writing from The New School. She writes books under her given name, Afarin Majidi.
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