Is 360 Insurance Company reputable?
My homeowners’ association is thinking about switching from American Family to this company, which appears to be specific to Colorado. However, I can’t seem to find any reviews.
360insuranceco.com
Do you have any tips on how I can thoroughly research this company?
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When evaluating whether 360 Insurance Company is legitimate and if it’s a good fit for your HOA’s needs, here are some steps you can take:
Check State Licensing: Verify that they are properly licensed to operate in Colorado through the Colorado Division of Insurance website. Licensed companies will be listed and it will provide information about their status.
Request Information: Directly contact 360 Insurance Company and ask for their financial ratings, coverage options, and any claims process details. Request documentation on their policies and any sample contracts.
Look for Reviews and Complaints: While you mentioned not finding reviews, try searching on forums, social media, or websites like Better Business Bureau (BBB) to see if there are any customer experiences shared.
Ask for References: If they are indeed a legitimate company, they should be able to provide references from other clients or HOAs that they currently insure.
Consult Insurance Agents: Talk to insurance agents or brokers who are familiar with the Colorado market. They may know the company’s reputation and can provide comparisons with American Family.
Evaluate Financial Health: Check if they are rated by agencies like A.M. Best, Fitch, or Moody’s to assess their financial stability. A higher rating typically indicates a more reliable company.
Review Policy Options: Ensure their policies meet your HOA’s specific needs and compare coverage limits, deductibles, and premiums with those from American Family.
By following these steps, you should be able to gather more information to make an informed decision about switching to 360 Insurance Company.