Otto Insurance
Product Name: Otto Insurance
Product Description: Otto Insurance is a free online service that works to help people save money on auto, home, life and pet insurance.
Summary
Otto Insurance is an insurance marketplace that aggregates insurance quotes from many insurance companies allowing you to get several quotes at once. This can help you find the lowest price without having to enter your information into several different websites. Otto Insurance can be a valuable tool for anyone needing auto, home, life, or pet insurance.
Pros
- Access to multiple insurance carriers
- It’s free to use
- Opt out of solicitation is available
- Get quotes for different types of insurance
Cons
- Delay in receiving quotes
- The high number of poor online reviews
- Otto is not a direct insurance provider
Otto Insurance is an online insurance lead generator that uses your personal information to match you with insurance companies that can offer you free quotes. Otto is not a direct insurance provider, nor is it an insurance broker. Therefore, you’ll obtain quotes and policies directly from actual insurance providers.
At a Glance
- One-stop insurance shopping
- Fast service
- Online process with no need to call in
- Works with hundreds of insurance providers
- Provides quotes for several insurance types
- Opt-out of marketing is available
- Customer service via email only
- Free to use
Who Should Use Otto Insurance?
Otto Insurance can be a valuable tool for anyone needing auto, home, life, or pet insurance. Shopping annually for insurance rates is part of a good budgeting system.
When you use a service like Otto Insurance, shopping around for insurance policies becomes easier. You make one stop instead of having to call several different insurance companies.
You’ll be able to see, at a glance, which insurance company is offering you the best insurance rates.
Otto Insurance Alternatives
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| Aggregates Insurance Quotes | Yes | Yes | No |
| Types of insurance | Auto, home, renters, life | Auto and home | Auto, home, renters, life, condo, pet, and flood |
| Free Quotes | Yes | Yes | Yes |
| Learn More | Learn More | Learn More |
Based in Miami Beach, Florida, Otto is an online insurance marketplace that connects users to auto, home, pet, commercial, and life insurance policies.
The company claims that you can save more than $500 per year on your car insurance premium. And while Otto doesn’t disclose the number of participating insurance companies, they do indicate policies are provided by Nationwide, Esurance (Allstate), AAA Insurance, Farmers, Mercury Insurance, Liberty Mutual, Progressive, and American Family.
Online reviews mention several other big-name insurance company quotes through Otto Insurance as well.
Otto claims to have helped over 17 million consumers find the best insurance rates. To obtain a quote, you’ll complete a “quiz” rather than an application, as is typical of other insurance websites.
Otto will ask you to provide the following information:
- Zip Code
- Vehicle age
- Vehicle make and model
- Features of your vehicle
- The name of your current insurance provider
- Indicate your gender
- Your marital status
- Answer: what is your credit score? (Excellent, good, average, poor)
- Confirm your residence status
- Your birthdate
- Your first and last name
- Home address
- Email address
- Phone number
You’ll begin receiving quotes when you click the blue “Get Quotes” button. But before proceeding, you might want to read the fine print. Be aware you’ll be providing express written consent to receiving marketing information regarding insurance and related products.
This could include automatic telephone dialing systems, artificial and prerecorded calls, SMS/MMS, and emails from both the Otto website and one of its many marketing partners at the phone number and email address you provide.
Otto deals with hundreds of insurance partners. I was also able to identify mortgage providers, financial services companies, web lead services, and many others I was unfamiliar with.
Several Types of Insurance
Otto offers its process for more than just auto insurance. You can get quotes for homeowners insurance, commercial insurance, life insurance, and even pet insurance.
The process is similar for each type of insurance. While you can start the process over for each type of insurance, Otto’s system is set up so that the questions it asks for individual types of insurance are designed to help determine whether you need other insurance.
In other words, Otto is designed so that insurance companies will offer you a bundle package if you need it. Bundle insurance packages can help you save money on every type of insurance you need.
Pricing
Otto doesn’t cost you anything as a consumer to use. However, it’s safe to say they may make a commission when you choose to go with one of the carriers they quote.
Of course, you’d have to access that carrier through Otto in order to be guaranteed the price they quote, so you may want to keep that in mind.
Customer Service
The only way to contact Otto Insurance’s customer service is by email through a contact link on their website. Since Otto Insurance is a gathering place for insurance quotes and can’t answer questions about the quotes, there’s really no need to contact them often.
Third-Party Reviews
The one area in which Otto Insurance doesn’t do well is in the area of third party reviews.
Trustpilot gives Otto a score of 2.4 out of 5 stars (as of this writing). The Better Business Bureau gives Otto Insurance a rating of B-.
Both sites have numerous reviews expressing frustration at receiving a large number calls and emails from partner companies. Note that Otto does give you the option to opt out of receiving solicitations.
The positive reviews on Trustpilot largely revolve around customers getting insurance rates that are lower than what they had previously been paying.
Otto Insurance Alternatives
Everquote
Everquote provides a service similar to Otto Insurance. They don’t provide insurance, but instead work to connect you with insurance providers in order to help you track down the lowest rates.
Everquote focuses on auto, life, home, and renters insurance. Like Otto Insurance, it is free of charge.
Expect that Everquote, like Otto Insurance, will send your information to dozens of insurance providers and that you will receive phone calls, texts, and emails from potential insurance providers.
Insurify
Insurify works similarly to Otto Insurance. You answer a few questions, and then Insurify gets quotes for you from several other insurance companies.
As with Otto Insurance, it’s free to use Insurify. The company gets paid by insurance companies when you get a policy through them. One thing that stands out about Insurify is that you’ll be talking with an actual customer service rep through Insurify, whereas Otto Insurance and other similar companies are often automated.
Insurify has a 4.8 rating on Trustpilot. There were several reviews that boasted of great customer service and money-saving results.
Liberty Mutual
Liberty Mutual is a long-standing insurance provider that offers auto, home and renters insurance, including condo insurance.
You’ll get online quotes with no obligation. Although Liberty Mutual is different from other companies mentioned here in that it is an actual service provider instead of an insurance marketplace, the decades-long reputation of Liberty Mutual ensures that you’ll be quoted a competitive price.
That being said, it’s important for you to do your own online research, as service is just as important as price when it comes to insurance — and most other things in life.
FAQs
Is Otto Insurance really free to use?
Yes, Otto Insurance is free to use. They get paid when you sign up for insurance through your referral to an insurance company.
What information do I have to give Otto Insurance?
You will have to share several pieces of personal information with Otto Insurance in order to get an accurate quote. See the list above for more information.
Is it safe to use Otto Insurance?
Otto Insurance is a legit company and is safe to use. Be aware that they are shopping insurance policies for you, which means you will get calls, texts and emails from those insurance companies.
Can Otto Insurance really save me money?
Possibly. It depends on your situation and on which company you’re insured with now. However, Otto will provide you with quotes from several other companies so that you can see if a better rate is available for you.
Summary
Otto Insurance offers an easy way for you to get insurance quotes from several different insurance companies at once. Otto Insurance is a legitimate lead-generating website but not an actual insurance company. The site serves as an aggregator, linking applicants with participating insurance companies
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About Kevin Mercadante
Since 2009, Kevin Mercadante has been sharing his journey from a washed-up mortgage loan officer emerging from the Financial Meltdown as a contract/self-employed “slash worker” – accountant/blogger/freelance blog writer – on OutofYourRut.com. He offers career strategies, from dealing with under-employment to transitioning into self-employment, and provides “Alt-retirement strategies” for the vast majority who won’t retire to the beach as millionaires.
He also frequently discusses the big-picture trends that are putting the squeeze on the bottom 90%, offering workarounds and expense cutting tips to help readers carve out more money to save in their budgets – a.k.a., breaking the “savings barrier” and transitioning from debtor to saver.
Kevin has a B.S. in Accounting and Finance from Montclair State University.
Opinions expressed here are the author’s alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.
