RLI Corp has been providing insurance solutions for over 50 years But is RLI a good insurance company to work with for your insurance needs? In this detailed review, we’ll take an in-depth look at RLI’s pros, cons, financial ratings, coverage options, and more to help you decide
An Overview of RLI Corp
RLI Corp was founded in 1965 in Peoria, Illinois where it is still headquartered today. The company offers a variety of insurance products for both individuals and businesses.
Some of RLI’s key features include
- Specializes in niche and customized coverages
- Offers business insurance, homeowners insurance, umbrella insurance, and more
- Provides insurance in all 50 states
- Has around 1,000 employees
- Works with over 3,000 independent insurance agents
- Has $1-1.25 billion in annual revenue
Over its 50+ years in business RLI has built a reputation as a financially stable insurance carrier with strong future prospects.
RLI’s Financial Strength and Ratings
RLI Corp has received high ratings from insurance rating agencies that assess its financial strength:
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A.M. Best rating: A+ (Superior)
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This indicates RLI has an excellent ability to meet its ongoing policy and contract obligations.
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Better Business Bureau (BBB) rating: A+ (Accredited)
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The BBB has accredited RLI as a trustworthy company that satisfies BBB accreditation standards.
These strong financial ratings provide assurance that RLI has the ability to pay out claims consistently now and into the future.
RLI’s Insurance Coverages
RLI offers a variety of personalized insurance solutions for individuals and businesses:
Home Insurance
- Homeowners Insurance
- Flood Insurance
- Renters Insurance
- Condo Insurance
- Hawaii Hurricane Insurance
Auto Insurance
- Personal Auto Insurance
- Classic Car Insurance
Personal Umbrella Insurance
- Extra liability protection above auto and home policies
Recreational Insurance
- Motorcycle Insurance
- ATV Insurance
- Golf Cart Insurance
Business Insurance
- General Liability Insurance
- Professional Liability Insurance
- Commercial Property Insurance
- Workers’ Compensation
- Cyber Liability Insurance
And more specialized business insurance coverages.
RLI works with independent agents to create customized insurance packages.
RLI Insurance Discounts
RLI offers various discounts that can potentially lower your premiums:
- Multi-policy discounts when you bundle RLI policies
- New home discount
- Safety feature discounts (alarms, sprinklers)
- Good student discount
- Defensive driver discount
Discounts vary by state and policy. Contact an RLI agent to learn about available discounts.
RLI Customer Service Experience
RLI aims to provide quality customer service through:
- 24/7 claims reporting via phone, email, fax, mail
- In-house claims team for faster processing
- Online account access for policy management
- Large network of independent agents for personalized service
Policyholders can pay premiums and manage billing online through their RLI account.
Is RLI Right for You? Pros and Cons
Pros
- Strong financial ratings
- Variety of insurance options
- Specialized coverages (Hawaii hurricane, niche business)
- Works with independent agents
- Positive customer service reputation
- Discounts available to reduce premiums
Cons
- Limited online quotes and policy management
- Mixed reviews on claims processes
- Not accredited by BBB
- Some coverage not nationwide
The Bottom Line: Is RLI a Good Insurance Company?
RLI Corp has delivered quality insurance products for over 50 years. They have strong financial ratings, a good range of options, and positive customer service reviews. Their focus on working with independent agents also sets them apart.
While they have room for improvement in their online servicing capabilities, RLI offers a solid choice for insurance, especially for niche needs. They can be considered a good insurance company for many consumers and business owners seeking the right coverage.
Consult with an independent RLI agent to get quotes and find out if RLI is the right insurance provider for your specific needs.
Company Profile – Financial Strength
The last few years have been very good for our finances, and now they’re on par with the world’s biggest companies. Learn more about our financial strength.
RLI Insurance review, pros and cons, legit, quote (update 2024)
FAQ
Is RLI insurance legit?
What kind of insurance is RLI?
What rating is RLI umbrella insurance?
What is the credit rating of RLI?
Is RLI a good insurance company?
RLI has been around for nearly six decades now. The insurance company is highly rated by A.M. Best and the BBB. RLI provides a good selection of coverage options for individuals and businesses. The carrier also works with independent insurance agents. Overall, RLI can indeed be considered a good insurance company. “Greatest insurer on Earth!”
How many insurance subsidiaries does RLI have?
RLI conducts its operations primarily through four insurance subsidiaries — RLI Insurance Company, Mt. Hawley Insurance Company, RLI Indemnity Company, and Contractors Bonding and Insurance Company. Founded in 1965 by Gerald D. Stephens, Replacement Lens, Inc. (RLI) was one of the first insurers of contact lenses.
Is RLI Corp a BBB Accredited Business?
RLI Corp cons: Not a BBB accredited business. Some coverage not available nationwide. To find insurance in your state, use our national insurance company directory to find the best company to meet your needs. You can locate insurance companies that specialize in your specific coverage needs and get connected to an agent near you.
Does RLI offer hurricane insurance?
Today, RLI offers personal coverage nationwide, and select coverages in specific areas, such as Hawaii hurricane insurance. The carrier’s LinkedIn network shows just under 1,000 total employees, but the insurance company works with more than 3,000 independent insurance agents to distribute their coverage.