Anchor Auto Insurance: User Reviews and Quotes (2024)
Anchor sells non-standard car insurance in Arizona, California, and Texas. It may not be a great option for car insurance due to its limited coverage options and poor ratings.
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Background working with banks and insurance companies
Sarah enjoys helping people find smarter ways to spend their money. She covers auto financing, banking, credit cards, credit health, insurance, and personal loans.
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Anchor General Insurance Agency Inc. is a San Diego-based company that specializes in non-standard car insurance. Currently, Anchor sells auto insurance only in Arizona, California, and Texas.
Overall, Anchor customer reviews are very negative. It has an extremely high number of complaints, and it doesn’t have great financial stability. If you’re looking for a non-standard car insurance company, it might be a good idea to compare quotes from other companies that have a better reputation — especially if you live in a state where other insurers operate.
Quick Facts
Anchor has received many complaints about customer service and claim handling.
AM Best recently downgraded Anchor’s financial strength rating to B (Fair).
The Anchor website provides very limited information about coverages and discounts.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
2.6/10
Anchor General Insurance Agency offers non-standard insurance, also known ashigh-risk auto insurance. While its rates tend to be lower than its competitors’ rates, this insurer likely isn’t the best fit for many people who could otherwise qualify for a standard policy.
Anchor doesn’t advertise much information on its website about its coverage types or discounts. But it does offer low down payments and flexible payment options, which not all insurance companies have.
It’s also worth noting that Anchor doesn’t have the best financial strength compared to many other insurers — which means it could have trouble paying out claims. AM Best, a credit-rating agency focused on the insurance industry, recently downgraded Anchor’s financial stability from a B+ rating to a B.
Pros
Serves non-standard drivers who may have trouble finding car insurance
Offers personal injury protection and uninsured/underinsured motorist coverage
Last year, my monthly payments were $119.00 for full coverage, and now my monthly payment has nearly doubled to $205.00. It's not fair.
Last year, my monthly payments were $119.00 for full coverage, and now my monthly payment has nearly doubled to $205.00. It's not fair.
Factor
How Anchor Compares
Rates
Cheaper than competitors
Customer service
Similar to competitors
Discounts
Fewer than competitors
Availability
Less than competitors
Financial strength
Worse than competitors
Our editorial team spent 350 hours developing the IQ (Insurify Quality) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. Criteria are weighted by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.
We rate each company on a 1 to 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.
Third-party financial ratings: We use data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims
Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also considered third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the United States, as well as available discounts, to calculate an affordability score.
Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer’s transparency surrounding discounts, coverages, and claims process.
Availability and reach: Insurify identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.
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How Anchor rates compare to competitors
Anchor’s rates are slightly cheaper compared to some of its competitors, like 21st Century and Safeway. In the chart below, you can see how monthly full-coverage rates for some other insurers compare to Anchor.
Full-Coverage Rates by Insurance Company
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
Average cost of Anchor auto insurance
Anchor’s average liability rate is $101 per month, according to Insurify data. But insurance companies typically base your rate on a variety of factors, including your driving record and age. So if you’re in an accident, get a ticket, or are involved in a serious offense like a DUI, your rates could jump. Teen drivers can also expect to pay more for insurance.[1]
Here’s a closer look at what drivers pay for liability coverage with Anchor, depending on their driving history and age, and how these rates compare to the national liability averages:
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Anchor car insurance cost by state
The average cost of car insurance and the minimum coverage requirements are different in every state. To see how much Anchor auto insurance will cost in your state, you’ll need to call the company or speak with an agent for a personalized quote.
The table below shows what drivers pay for minimum-coverage Anchor car insurance in the state where coverage is available, compared to the state’s overall car insurance average.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile. Arizona and Texas not included due to a lack of data.
Anchor car insurance discounts
Anchor doesn’t advertise any specific car insurance discounts online. But you may still be eligible for some savings. The company recommends that you contact an Anchor agent directly to learn about discount options.[2]
How customers feel about Anchor
Anchor insurance reviews are negative. Anchor has significantly more complaints than expected for its size, according to the National Association of Insurance Commissioners (NAIC) Complaint Index. Anchor’s complaint index is 18.43, and the industry index is 1.0.
The company has a Better Business Bureau (BBB) rating of 1.04 out of 5 stars, based on nearly 50 customer complaints. The BBB has closed 168 complaints in the last three years and almost 100 complaints in the last year.[3]
On Trustpilot, Anchor has a “poor” rating of 2.7 out of 5 stars based on 156 customer reviews.
Anchor customer reviews
Anchor has poor customer reviews overall. Many reviewers cite experiences with bad claim handling, unprofessional customer service representatives, and policy cancellations without a valid reason.
Here’s a look at some published reviews from real, verified users:
Anchor ratings
Anchor has a B financial stability rating from AM Best, which indicates that it has a fair ability to meet policyholder obligations and settle claims.[4] When choosing an insurance company, it’s generally a good idea to pick an insurer with an AM Best rating of A or better.
Additionally, Anchor has an alarming number of complaints per the NAIC Complaint Index. The company’s 2023 complaint index was 18.43, which indicates that it had an above-average number of complaints.
Rating
Score
What This Means
AM Best
B
Fair ability to pay claims and meet other financial obligations
NAIC Complaint Index
18.43
Significantly more complaints than expected for a company of its size
Anchor car insurance coverage options
When considering Anchor, it’s important to understand that the company isn’t a standard insurer. Unlike typical insurance companies, Anchor offers only non-standard private passenger automobile liability and physical damage coverage. Anchor doesn’t advertise any additional insurance options on its website, such as accident forgiveness, roadside assistance, or gap insurance.
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Other options for Anchor customers
Anchor exclusively sells auto insurance to high-risk drivers. It doesn’t sell any other insurance products, like home insurance, renters insurance, life insurance, or business insurance.
Anchor insurance FAQs
If you’re a high-risk driver in one of the states where Anchor offers insurance, it may be worth getting a quote. But before you do, consider this additional information.
Is Anchor legitimate?
Yes. Anchor General Insurance Agency is a legitimate insurance company. But the insurer doesn’t have a good customer service track record and has low financial strength ratings.
What is the average cost of Anchor car insurance?
The average cost of Anchor car insurance is $266 per month for full coverage and $101 per month for liability-only insurance, according to Insurify data.
Is Anchor good at paying claims?
Based on reviews from verified customers, Anchor may not be the best at paying claims. And it only has a B financial strength rating from AM Best, which means it has a fair ability to meet its financial obligations.
How do you cancel your Anchor insurance policy?
To cancel an Anchor auto insurance policy, you’ll need to call an agent. The company’s phone number is 1 (800) 542-6246, and business hours are Monday through Friday, from 8 a.m. to 5 p.m. Pacific time.
Does Anchor Insurance have a good customer service reputation?
No. Anchor doesn’t have the greatest customer service reputation. It has poor BBB and Trustpilot ratings, with dozens of complaints about poor customer service and claim handling. Anchor also has a high complaint score from the NAIC.
Methodology
Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.
Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).
Liability-only premium averages correspond to policies with the following coverage limits:
Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
Property damage limits between $10,000 and $50,000
No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
Comprehensive coverage with a $1,000 deductible
Collision coverage with a $1,000 deductible
Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.
AM Best. "A.M. Best Downgrades Credit Ratings of Anchor General Insurance Company and Pacific Star Insurance Company."
Elizabeth Rivelli
Elizabeth Rivelli is a freelance writer covering insurance and personal finance. She has extensive knowledge of various insurance lines, including property and casualty, health, and life insurance. Her byline has been featured in dozens of publications, including Investopedia, Forbes, Bankrate, NextAdvisor, and Insurance.com.
Background working with banks and insurance companies
Sarah enjoys helping people find smarter ways to spend their money. She covers auto financing, banking, credit cards, credit health, insurance, and personal loans.
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