Voya Financial Insurance Review & Ratings (2024)

Overall, Voya Financial Insurance appears to be a reputable car insurance company that offers a range of coverage options at competitive rates.

While the company has relatively limited availability in terms of the states where it operates, customers in those states report positive experiences with the company’s customer service, claims process, and rates.

Additionally, Voya Financial Insurance offers a variety of discounts that can help customers save money on their premiums. If you are in the market for car insurance, it’s worth considering Voya Financial Insurance as an option.

What You Should Know About Voya Financial Insurance

Check out our comprehensive guide to Voya Financial Insurance. In this article, we will provide an in-depth analysis of various aspects of Voya Financial Insurance, including ratings, cost analysis, the claims process, and customer satisfaction. By exploring these crucial topics, you will gain valuable knowledge to make informed decisions about the amount of insurance coverage you should consider.

To ensure you get the best deals from top insurance providers in your area, simply enter your zip code below and compare rates. Don’t miss out on the opportunity to secure the insurance coverage that perfectly aligns with your needs and offers the best value. Take the first step towards protecting what matters most by making an informed choice today.

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Voya Financial Insurance History and Mission

Voya Financial Insurance, formerly known as ING U.S., was founded in 1991 and is headquartered in New York. However, the company has roots that go back over 150 years to the founding of the Insurance Company of North America (INA) in 1792, which is considered the oldest stock insurance company in the United States.

In 2014, ING U.S. rebranded itself as Voya Financial, with a new mission to help Americans plan, invest, and protect their savings so they can retire better.

Voya Financial Insurance is committed to providing its customers with high-quality financial products and services that help them achieve their financial goals.

Today, Voya Financial Insurance is a leading provider of retirement, investment, and insurance products and services, including car insurance.

The company serves customers in all 50 states and has a strong reputation for customer service and innovation in the financial services industry.

Voya Financial Insurance Coverage Options

Voya Financial Insurance offers a range of insurance products and services, including car insurance, as well as retirement, investment, and employee benefits solutions. Here’s a breakdown of their insurance offerings:

• Liability coverage: This is mandatory coverage that pays for damages and injuries you cause to others in an accident. It includes bodily injury liability (BIL) and property damage liability (PDL).
• Collision coverage: This optional coverage pays for damage to your car if you’re involved in an accident, regardless of who is at fault.
• Comprehensive coverage: This optional coverage pays for damage to your car that is not caused by a collision, such as theft, vandalism, or weather-related damage.
• Uninsured/Underinsured motorist coverage: This optional coverage protects you if you’re involved in an accident with someone who doesn’t have insurance or doesn’t have enough insurance to cover the damages.
• Personal injury protection (PIP): This coverage pays for medical expenses and lost wages if you or your passengers are injured in an accident, regardless of who is at fault.

In addition to car insurance, Voya Financial Insurance offers a range of retirement and investment solutions, including:

• 401(k) plans
• IRA accounts
• Annuities
• Mutual funds
• Managed accounts
• Individual investment accounts

For employee benefits solutions, they offer:

• Group life insurance
• Disability insurance
• Long-term care insurance
• Health savings accounts (HSAs)
• Flexible spending accounts (FSAs)

The cost of these services varies depending on the state where the customer lives and the coverage options they choose.

States Where Voya Financial Offers Insurance

Voya Financial Insurance offers car insurance products and services in several states across the United States. While the availability of coverage may vary by state, the company operates in the following states:

Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin.

It’s important to note that availability and pricing of coverage may vary by state, so it’s a good idea to check with the company directly to confirm their offerings in your specific state.

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Voya Financial Insurance Rates Breakdown

The cost of coverage from Voya Financial Insurance will depend on several factors, including your age, driving record, location, and the type of car you drive. Additionally, the level of coverage you choose will also impact your premium.

To get a better idea of the cost of coverage for your specific situation, it’s recommended that you request a quote from Voya Financial Insurance directly. You can do this online or by calling their customer service team. Be sure to provide accurate information about your driving history, vehicle, and coverage needs to receive an accurate quote.

Voya Financial Insurance Discounts Available

Voya Financial Insurance offers a range of discounts that customers may be eligible for. Here are some of the discounts that are currently available:

• Multi-car discount: If you insure more than one car with Voya Financial Insurance, you may be eligible for a discount on your premium.
• Safe driver discount: Customers who have a clean driving record and no recent accidents may be eligible for a safe driver discount.
• Good student discount: Full-time students who maintain a certain grade point average (usually a “B” average or higher) may be eligible for a discount on their car insurance.
• Anti-theft device discount: If your car is equipped with an anti-theft device, you may be eligible for a discount on your premium.
• Accident forgiveness: Customers who have been with Voya Financial Insurance for a certain amount of time (usually three years) may be eligible for accident forgiveness, which means that their rates won’t go up after their first at-fault accident.
• Hybrid/electric vehicle discount: If you drive a hybrid or electric vehicle, you may be eligible for a discount on your car insurance premium.

It’s important to note that the availability of discounts may vary by state and individual circumstances. To find out which discounts you may be eligible for, it’s best to contact Voya Financial Insurance directly.

Read More: Hybrid Vehicle Car Insurance Discount

Navigating Voya Financial Insurance Claims Process

Ease of Filing a Claim

Voya Financial Insurance offers multiple convenient options for filing a claim. Policyholders can file a claim online through the company’s website, over the phone by contacting their customer service team, or via mobile apps if available. This flexibility ensures that customers can choose the method that best suits their preferences and needs.

Average Claim Processing Time

The efficiency of a claims process is a crucial factor for policyholders. While specific processing times may vary depending on the nature and complexity of the claim, Voya Financial Insurance strives to provide a streamlined claims process. Customers can expect to receive timely responses and efficient handling of their claims.

Customer Feedback on Claim Resolutions and Payouts

Customer satisfaction with the claim resolution and payout process is paramount. To gauge the company’s performance in this regard, customer feedback is essential. Voya Financial Insurance values feedback from policyholders and continuously works to improve its claims handling. Customer reviews can provide insights into the company’s ability to deliver on its promises.

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Delving Into Voya Financial Insurance Digital and Technological Features

Mobile App Features and Functionality

Voya Financial Insurance offers a mobile app to enhance the digital experience for its policyholders. The app likely includes features such as policy management, claims filing, and access to important documents. Exploring the app’s functionality is crucial for customers who prefer managing their insurance on-the-go.

Online Account Management Capabilities

Policyholders can benefit from the convenience of online account management through Voya Financial Insurance’s website. This likely includes features like viewing policy details, making payments, and updating personal information. Assessing the robustness of these online account management capabilities is essential for a seamless customer experience.

Digital Tools and Resources

Voya Financial Insurance may provide policyholders with digital tools and resources to assist in various aspects of insurance management. These tools could range from insurance calculators to educational materials on insurance topics. Evaluating the availability and usefulness of these digital resources can be valuable for customers seeking information and guidance.

How Voya Financial Insurance Ranks Among Providers

Voya Financial Insurance distinguishes itself by combining insurance with a broader range of financial services, providing a more personalized and holistic approach.

• Geico: Voya Financial Insurance seems to have a more limited geographical presence, focusing on specific states. However, Voya offers a more personalized approach, emphasizing customer satisfaction and innovation.
• Progressive: Voya Financial Insurance shares some similarities in offering a digital experience, but its emphasis on personalized financial planning and a wide range of services distinguishes it from Progressive’s primary focus on auto insurance.
• State Farm: Voya Financial Insurance aligns with State Farm in its commitment to customer service, but Voya stands out with a more extensive range of financial products beyond insurance.
• Allstate: Voya Financial Insurance may have a more focused approach, primarily offering retirement, investment, and insurance products. While lacking in certain telematics features, Voya emphasizes a holistic financial planning approach.
• Nationwide: Voya Financial Insurance shares a similar commitment to comprehensive financial services, but Nationwide has a broader geographical reach. Voya, on the other hand, may stand out in terms of customer-centricity and personalized planning.

While its geographical coverage is more limited compared to some competitors, its focus on customer satisfaction, innovation, and a comprehensive suite of financial products make it a strong contender in the insurance industry.

Customer Feedback for Voya Financial Insurance

Customer reviews of Voya Financial Insurance are generally positive. Here are some of the common themes that come up in customer reviews:

• Good customer service: Many customers report that they have had positive experiences with Voya Financial Insurance’s customer service team. They say that representatives are helpful, knowledgeable, and responsive.
• Competitive rates: Customers also report that Voya Financial Insurance offers competitive rates for car insurance coverage. Many customers say that they were able to save money by switching to Voya Financial Insurance.
• Easy claims process: Several customers have also commented on how straightforward the claims process is with Voya Financial Insurance. They say that the company processes claims quickly and efficiently.
• Limited availability: Some customers have noted that Voya Financial Insurance is not available in all states, which can be a drawback for those who live in areas where the company doesn’t operate.
• Mixed experiences with discounts: Finally, some customers have had mixed experiences with the discounts offered by Voya Financial Insurance. While some have been able to take advantage of discounts and save money on their premium, others have found that the discounts are limited or not available to them for various reasons.

Overall, while there are some limitations to Voya Financial Insurance’s coverage (such as its limited availability in certain states), the company seems to provide solid service, competitive rates, and an easy claims process.

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