Great Western Casualty Insurance for Semi Review: Essential Insights for Truck Owners

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Written By Randall Henson
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Great West Casualty Company, a renowned insurance provider, specializes in delivering trusted truck insurance products and services tailored for the commercial trucking industry. With over 65 years of experience, the company has carved a niche for itself by thoroughly understanding the unique needs of its insured clients and offering reliable coverage. As one of the most respected insurance providers nationwide, Great West Casualty Company constantly innovates to meet the changing demands of truckers.

This article aims to provide a comprehensive semi-review of Great West Casualty Insurance, delving into the wide range of insurance options, and the assured customer service that has garnered them a strong reputation among truckers. By weighing actual user experiences, we aspire to present an unbiased review to help you make an informed decision.

Great Western Casualty Insurance Overview

History and Background

Great West Casualty Company has been a trusted provider of commercial truck insurance for over 65 years. Founded on a service philosophy that caters to their customer’s needs, the company has solidified its reputation in the trucking industry. The company takes pride in offering 24-hour claims service and flexible underwriting tailored to suit individual requirements.

Parent Company and Affiliations

Great West Casualty Company is a subsidiary of Old Republic Insurance Companies, a strong and reliable parent organization. Its affiliation with the larger network allows for broader reach and additional services for clients.

Great West offers various insurance products and services, including truck and aircraft insurance, liability coverage, surety insurance, worker’s compensation, and excess policies. The company’s high ratings underscore its financial stability and ability to fulfill claims, making it a reliable choice in the insurance market.

Insurance Products and Coverages

Semi Truck Insurance

Great West Casualty Company specializes in truck insurance products and services, specifically for the transportation industry. They offer a variety of coverages important for truckers, such as Auto Liability, Physical Damage, Cargo, and General Liability insurance. Their policies cater to owner-operators and motor carriers, helping to protect businesses against financial losses in case of accidents or other unexpected events.

Flexible underwriting is one of the key features of Great West’s approach, allowing them to customize coverages for each unique situation. This means that their truck insurance policies can be tailored to fit the specific needs of truck drivers and carriers, resulting in a more comprehensive and effective protection.

Additional Coverages

Apart from the standard semi truck insurance, Great West Casualty Company also provides additional insurance coverages and services:

  • Umbrella: A policy that offers extra protection by extending the limits of a driver’s underlying liability insurance, ensuring additional coverage in the event of a catastrophic claim.
  • Workers’ Compensation: A coverage that compensates employees for workplace injuries or illnesses, providing medical care and rehabilitation services, as well as replacement income for lost wages.
  • Specialty Coverages: A set of specialized coverages designed to address specific needs of the trucking industry, such as Garage Liability, Dealers Open Lot, and Non-Trucking Liability.

To cater to the diverse needs of truckers and motor carriers, Great West Casualty Company offers quotes for all their insurance products. This allows potential clients to plan and make informed decisions as to which policy and coverage options would best suit their particular situation.

Risk Management and Safety Services

Great West Casualty Company specializes in truck insurance products and services, catering to the needs of truckers across the nation. They have a dedicated Risk Control Services department that provides various resources aimed at safety management and regulatory compliance for their insured clients.

Safety services offered by Great West Casualty include seminars, online videos, newsletters, and publications. These resources are designed to help truckers and fleet owners meet the ever-changing demands of the industry by staying up-to-date with the latest safety regulations and best practices.

One of the key features of Great West Casualty’s offerings is their 24-hour claims service. This ensures that truckers always have access to assistance and support in the event of an accident or unforeseen incident, helping minimize downtime and potential losses.

As part of their comprehensive risk management services, Great West Casualty also provides safety services representatives for their clients. These representatives work directly with truckers and fleet owners, offering customized support and solutions tailored to their specific needs. Some of the services these representatives provide are:

  • Risk assessments and evaluations
  • On-site consultations and safety training
  • Assistance with the implementation of safety programs
  • Guidance on regulatory compliance requirements

By making use of these risk management and safety services, truckers can benefit from improved safety performance, reducing the likelihood of accidents and subsequent claims. This not only contributes to the trucking industry’s overall safety record but also helps truckers maintain a good relationship with their insurance provider, possibly leading to lower premiums over time.

Claims Services and Customer Support

Great West Casualty Company offers comprehensive insurance services to trucking and transportation companies that cover multiple aspects of their business. A major component of their offerings is the claims services, which are designed to provide fast and efficient assistance to insureds.

Insureds can access Great West’s claims services 24 hours a day, 7 days a week, throughout the year by making a single toll-free call to 800.228.8040 (U.S. or Canada) (source). This makes it convenient for policyholders to report incidents and get support when needed.

The company also has specialized teams for dealing with different types of claims. For instance, in the area of workers’ compensation, the team of professionals focuses on delivering claims management and excellent customer service (source).

Great West takes pride in its unique claims-handling process for cargo insurance, whereby recovery and salvage of goods are prioritized. Additionally, the company offers multiple optional coverages for cargo insurance (source).

Customer service is a key aspect of Great West’s offerings. The company serves its clients through a variety of channels and strives to promptly address issues and answer questions, ensuring a satisfying experience for its customers (source).

Furthermore, the company has a solid financial foundation backed by an A.M. Best rating, which reflects its stability and financial strength. This is an essential factor to consider when selecting an insurance provider, especially in the trucking and transportation industry where regulation and compliance are critical (source).

While it’s important to consider customer reviews and potential complaints, it’s equally crucial to recognize the comprehensive services and support provided by Great West Casualty Company. By offering a wide range of coverage options, responsive claims services, and reliable customer support, this insurance company aims to accommodate the diverse needs of its clients in the trucking and transportation sectors.

Life Insurance Products

Types of Life Insurance Policies

Great Western Insurance Company offers various life insurance products, focusing on final expense and preneed funeral insurance. The two primary final expense plans provided by the company are Assurance Plus and Guaranteed Assurance.

  • Assurance Plus is a whole life insurance policy designed to cover end-of-life expenses. It offers coverage amounts ranging from $10,000 to $40,000 and is available for individuals between the ages of 40 and 80. The plan includes an accelerated death benefit, allowing a portion of the death benefit to be accessed in case the policyholder is diagnosed with a terminal illness.
  • Guaranteed Assurance is a guaranteed issue whole life insurance policy, meaning there are no health questions or medical exams required during the application process. This plan is designed for individuals who may have difficulty obtaining traditional life insurance due to health issues. The coverage amounts are also between $10,000 and $40,000, and the policy is available to individuals aged 40 to 80.

Underwriting Process

The underwriting process for Great Western Insurance Company’s final expense plans varies based on the type of policy:

  • Assurance Plus: This plan requires the applicant to answer a series of health questions, but it does not require a medical exam. The underwriting process evaluates the applicant’s health condition to determine their eligibility and premiums.
  • Guaranteed Assurance: This plan has a simplified underwriting process, with no health questions or medical exams required. It offers guaranteed acceptance, which means that applicants will be approved for coverage regardless of their health status. However, the premiums for this policy tend to be higher compared to the Assurance Plus plan due to the increased risk for the insurer.

Great Western Insurance Company, based in Iowa, is one of the established life insurance companies in the United States. According to WalletHub, its customer service can be reached at 1-866-689-1401.

Final Expense and Funeral Insurance

Final Expense Plans

Great Western Insurance Company offers several final expense insurance plans to provide financial assistance for covering funeral costs, burial expenses, and other end-of-life expenses. There are three primary plans:

  1. Great Assurance Plan: A level benefit plan offering first-day coverage for eligible applicants.
  2. Graded Benefit Plan: Death benefits are phased in over the first two years of the policy for individuals who do not qualify for the Great Assurance Plan due to health reasons.
  3. Guaranteed Assurance Plan: Designed for those who cannot qualify for other plans, this plan has a 2-year waiting period before full benefits are available.

Final expense insurance policy coverage amounts typically range from $1,000 to $25,000, and policies have a cash value that grows over the life of the policy, similar to an investment.

Funeral Home Partnerships

Great Western works closely with funeral home partners, offering preneed funeral insurance policies designed to cover the costs of a funeral and other related expenses. This partnership helps ensure that funeral expenses are paid directly to the chosen funeral home, reducing the financial burden on the beneficiary.

When a policyholder chooses a preneed funeral insurance plan, they can lock in the cost of their funeral at current prices, guarding against future inflation. Furthermore, Great Western’s partnership with funeral homes enables policyholders to select specific services and merchandise based on personal preferences.

In the event of a policy cancellation, refunds may be subject to specific terms and conditions determined by the contract with the funeral home and applicable state laws.

As a subsidiary of American Enterprise Group, Great Western Insurance Company offers reliable and compassionate service to policyholders in search of final expense and funeral insurance solutions, allowing individuals to plan and protect their families from the financial strain of end-of-life expenses.

Financial Stability and Ratings

Great West Casualty Company, a subsidiary of Old Republic International Corporation, is a well-established player in the truck insurance industry. One of the key factors to consider when selecting an insurance provider is their financial stability and ratings.

National rating services acknowledge the financial strength of Great West Casualty Company. The firm boasts impressive ratings from three major rating agencies:

  • A.M. Best: A+ (Superior)
  • Standard & Poor’s: A+
  • Moody’s: A2

These ratings reflect the company’s strong financial footing, ensuring that it has the capability to protect truckers’ futures and pay out claims when needed. Furthermore, the association with Old Republic International Corporation, a reputable insurance group, bolsters Great West’s position in the market.

As part of the Old Republic Insurance Group (AM Best #: 002976), Great West Casualty Company benefits from the financial stability and resources of its parent organization. Old Republic International Corporation consistently receives positive ratings from rating agencies, emphasizing its reliability in the insurance sector.

When assessing the financial stability and ratings of insurance companies, it’s crucial to consider factors such as underwriting risk exposure and complaint ratios. In the case of Great West Casualty Company, its ratings across multiple agencies highlight its strength, and its affiliation with Old Republic International Corporation further underlines its financial stability.

Considering the importance of trustworthiness and financial stability for insurance companies, Great West Casualty Company’s ratings and connections with its parent company, Old Republic International Corporation, make it a reliable choice for truckers in need of insurance coverage.

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