Electric vs. Pekin Insurance

Which insurance carrier is right for you? Compare insights, savings, and quotes from Electric and Pekin.

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Electric vs. Pekin: 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 1921, a group of farmers, all members of the Tazewell County Farm Bureau, formed an organization to make automobile insurance more affordable. The organization was called The Farmers Automobile Insurance Association. The first Pekin Insurance office was located in the Tazewell County Courthouse, a space donated by the County Board Supervisors. With 187 policies, the six-month premium was $5 for glass, fire, lightning, windstorm, full-coverage collision, property damage, and bodily injury. All cars were charged the same premium. In 1932, they added 24-hour claim service. They adopted the telephone number #1334 for claims service. By 1939, Pekin had 20,000 policies and by 1945, 30,000. In 1952, they added fire insurance and in 1960, Inland Marine coverage. In 1966, the company moved into its new and current home office on Court Street and they now have 8 service offices in six states: Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin. Pekin Life Insurance Company, which was established in 1969, also offers products in Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, Nebraska, Pennsylvania, and Virginia. They began selling group health insurance in 1970 and pre-need insurance in 1993. In 2010, they adopted a new slogan, Beyond the expected®. In 2011, they created a unit called Group Plan Solutions for businesses. Today Pekin Insurance has over 900,000 policyholders and more than 8,500 independent agents.

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 Pekin Insurance Overview.

Electric vs. Pekin Insurance: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Electric and Pekin Insurance. On average, Electric charges approximately $246.58 per month while Pekin Insurance comes in at around $94.29 per month. For Electric, the cheapest state average is Missouri at $195.05 per month and the most expensive is Virginia at $350.30 per month. For Pekin Insurance, the cheapest state average is Indiana at $74.46 per month and the most expensive is Illinois at $106.30 per month.

Electric

Average Rate

$246.58
Pekin Insurance

Average Rate

$94.29
National

Average Rate

$120.03
State Electric Pekin Insurance
Connecticut $196.83 -
Illinois- $106.30
Indiana- $74.46
Iowa- $78.64
Kansas $228.40 -
Kentucky $229.03 -
Maine $209.55 -
Missouri $195.05 -
Virginia $350.30 -
Wisconsin- $105.06

Electric vs. Pekin Insurance: 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 Pekin Insurance typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Electric Pekin Insurance
1 Vehicle $233.10 $89.72
2 Vehicles $297.56 $114.28

Electric vs. Pekin Insurance: 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 $218.53 per month and Pekin Insurance charges $84.97 per month for customers who own their home.

Own/Rent Electric Pekin Insurance
Own $218.53 $84.97
Rent $259.12 $98.66

What is Electric and Pekin Insurance Rating?

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

Comparison Electric Pekin
Year Founded 1966 1921
A.M Best Rating A A-
BBB c-
BBB Rating A+
Financial Strength Excellent Excellent

Electric or Pekin: Insurance Products Offered

What coverage is available through Electric and Pekin? Both insurance companies offer Auto, Condo, Home, Motorcycle, Renters, RV, and Umbrella Insurance. Additional products from Pekin insurance also includes Commercial, 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 Pekin Insurance Insurance page.

Insurance Electric Pekin
Auto Insurance
Commercial Insurance
Condo Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Electric or Pekin: Ways To Save

Pekin offers a wide range of discounts to its policyholders, including Anti-theft Device, Auto/Home Bundle, and Defensive Driver (Not Available in Indiana) discounts. Electric also offers a few discounts that Pekin doesn’t including Student-Away-from-Home, Safety Features, and Safe Driver discounts. Start taking advantage of discounts offered by insurance providers like Pekin and Electric insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

Electric Pekin
Accident-free Discount Advance Issue
Driver Training Credit Anti-theft Device
Electric and Hybrid Vehicles Discount Auto/Home Bundle
Employer Group Discounts Defensive Driver (Not Available in Indiana)
Family & Friends Referral Discount EFT
Good Student Discount Good Student
Low Annual Mileage Discount Hybrid Auto
Married Status Discount Mandatory Seatbelt (Only Available in Iowa)
Mature Driver Accident Prevention Course Discount Multi-Car
Multi-policy Discount Paid-in-Full
New Auto Insurance Customer Discount Safety Equipment (Only Available in Ohio)
New Vehicle Discount Tenure
Passive Restraints
Payment-in-full Discount
Plan Ahead (Early Purchase) Discount
Safe Driver Discount
Safety Features Discount
Student-Away-from-Home Discount

Pros & Cons of Electric & Pekin

Pros

Electric
  • Long list of discounts
  • Additional dedicated discount for General Electric employees
  • Provides the convenience of starting a claim online
Pekin
  • High financial strength ratings by A.M Best.
  • Lots of supplemental or “add on” insurance options.

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.
Pekin
  • A high number of negative reviews.
  • Confusing website.
  • It only serves these states: Alabama, Arizona, Arkansas, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Ohio, Pennsylvania, Tennessee, Texas, Virginia, Wisconsin.

Electric or Pekin 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.

Not rated. Pekin only has an Insurance Events app on Google Play, which is intended to help you with schedules, dining information, maps and more.

Electric Mobile App
iOS      1 2 user reviews
Android      1.9 34 user reviews

Electric & Pekin Contact Info

Electric Contact Info
Address 75 Sam Fonzo Drive, Beverly, MA 01915
Phone 1-800-342-5342
Website https://eic.electricinsurance.com/
Facebook https://www.facebook.com/ElectricInsuranceCompany/
Twitter https://twitter.com/ElectricInsCo
Youtube https://www.youtube.com/channel/UC2YooRh-4qPtDgZvFHdFMIw
Linkedin https://www.linkedin.com/company/electricinsurancecompany/
Pekin Contact Info
Address 2505 Court St, Pekin, IL 61558
Phone 1-800-322-0160
Website https://www.pekininsurance.com/
Facebook https://www.facebook.com/PekinInsurance/
Youtube https://www.youtube.com/user/PekinInsurance
Twitter https://twitter.com/pekininsurance
Linkedin https://www.linkedin.com/company/pekin-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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