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Equity Insurance Company offers non-standard car insurance to drivers in Oklahoma. The company emphasizes its no-credit requirement, a factor insurers typically use to determine rates. This may make the company appealing to people who lack a credit history or have poor credit scores.
One of Equity’s significant drawbacks is its limited online presence. The company’s website lacks detailed information about its auto insurance coverage and discounts. Customers must call an Equity agent to learn about its services and obtain a quote.
If you live in Oklahoma, here’s what you should know about comparing car insurance quotes and how to determine if Equity is a good option for you.
Quick Facts
Equity Insurance Company offers car insurance for high-risk drivers.
You can purchase an auto insurance policy through the insurer’s network of independent agents.
The company only offers its services in Oklahoma.
How Equity compares to other insurance companies
Equity has limited information on its insurance offerings, financial ratings, and company reputation. Conducting an accurate comparison with its competitors is likely difficult without calling the company.
Equity offers non-standard car insurance and doesn’t conduct credit checks, which isn’t the norm for many companies. But Equity has very limited availability, only offering coverage in Oklahoma.
Factor
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How Equity Compares
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Discounts
Less than competitors
Availability
Less than competitors
Financial strength
Unknown
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.
Equity car insurance coverage options
Equity doesn’t disclose a complete menu of its car insurance coverage offerings. It also doesn’t mention whether it sells full-coverage policies, which would typically include collision coverage and comprehensive coverage. You’ll have to contact an independent insurance agent to evaluate your options.
Below are some coverages you may find with Equity:
Property damage liability insurance covers the other party’s property damage if you’re at fault in an accident.
Non-standard car insurance
Most insurance companies exclude coverage for high-risk drivers or upcharge them significantly. Equity offers insurance for high-risk drivers who struggle to obtain coverage from standard insurance companies and claims to do so for a “low down payment.”
No-credit-check car insurance
In most states, insurers are allowed to assign premiums based on your credit history. Equity is an insurance solution for drivers with limited or poor credit history, as it doesn’t require a credit check.
Non-U.S. citizen car insurance
Most insurers require a U.S. driver’s license to purchase car insurance. If you only have a foreign license, consider Equity for your insurance needs.
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How to get a quote from Equity
Equity insurance operates through an independent agent network. This means that your insurance agent sells policies through multiple companies and can provide tailored recommendations based on your coverage needs and budget.
To obtain a quote from Equity, speak to a customer service representative or contact an independent insurance agent. The company’s toll-free phone number is 1 (800) 777-0404, and the local number is 1 (918) 582-7700. It’s open Monday to Friday, from 8 a.m. to 5 p.m. Central time.
Equity car insurance discounts
Car insurance discounts can help you save money on your insurance policy. Qualifying for multiple discounts ensures you get the best deal on your policy.
Equity states that it offers various discounts but doesn’t specify which ones. So you’ll have to call to find out. Some common auto insurance discounts include:
Equity doesn’t have ratings from third-party agencies like AM Best or J.D. Power, likely due to its limited availability. But it earned an A+ from the Better Business Bureau (BBB) for its business practices (although it didn’t receive accreditation).
Equity had a high volume of negative reviews, many citing issues with its claims handling and customer service team. Equity scored 3.2 out of 5 stars from Clearsurance with 18 reviews and 2.9 out of 5 stars from Google Reviews with 322 reviews.
Customers were equally dissatisfied with its mobile app, which received 3.1 out of 5 stars on Google Play and 1.5 out of 5 stars on the App Store.
Equity ratings
The following ratings are crucial in measuring insurance companies’ reliability and performance. J.D. Power ratings gauge customer satisfaction and service quality, while AM Best (a credit-rating agency) evaluates financial stability and the ability to fulfill financial obligations like claim payments.
The National Association of Insurance Commissioners (NAIC) Complaint Index also provides insights into a company’s customer service effectiveness by comparing its complaint volume to industry averages.
Rating
▲▼
Score
▲▼
What This Means
▲▼
AM Best
Not rated
Financial strength unknown
J.D. Power
Not rated
Customer and claims satisfaction unknown
NAIC Complaint Index
0.67
Fewer complaints than average
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Other options for Equity customers
Equity insurance doesn’t offer other insurance products, such as home insurance, renters insurance, or life insurance. This likely means it doesn’t have a multi-policy discount, which reduces your cost if you bundle your auto policy with other insurances.
How to file a claim with Equity
If you need to file a claim with Equity Insurance, follow the steps below.
Step 1: Collect information
Collecting the following information at the scene of the accident could be useful when filing a claim:
Names and phone numbers of each party
Driver’s license numbers of each party
Make, model, and license plate numbers of all vehicles involved
Each party’s insurance policy information
All witnesses’ names and phone numbers
A copy of the police report
Step 2: Submit a claim request
Equity offers a variety of ways to file a car insurance claim:
Online form: Visit the Report a Claim page on Equity’s website to initiate the claims process. A representative will contact you for further information.
Telephone: Call 1 (877) 340-7325 between 8 a.m. and 5 p.m. Central time to speak to a claims representative. Dial 1 (800) 777-0404 if you’re calling outside of those times or on the weekend. Press “1” for the claims department and leave a voice message.
Fax: Send a fax to 1 (888) 306-9539 with your contact information and details related to your claim.
Mail: Send a written claim request to:
Equity Insurance
P.O. Box 4756
Tulsa, OK 74159-0756
Step 3: Wait for a response
After you submit your claims request, a claims representative will return your message and may ask for additional information. For an update on your claim status, contact your adjuster directly at 1 (800) 777-0404.
Equity insurance FAQs
Equity’s website lacks important details about its coverage options, potentially leaving you with questions about its auto insurance policies. Here’s some additional information about Equity’s products and services.
Is Equity legitimate?
Yes. Equity Insurance is a legitimate auto insurance company despite its limited online presence. It received an A+ from the BBB, meaning it conducts business ethically and transparently and shows no history of fraudulent activity.
Is Equity good at paying claims?
Third-party agencies like AM Best and J.D. Power haven’t rated Equity, so it’s hard to say if the company pays claims well. But many user-generated reviews mention challenges in contacting a claims representative and the company’s failure to pay claims. It’s important to note that customer testimonials may not align with your individual experience with the company.
How do you cancel your Equity insurance policy?
Equity insurance doesn’t provide specific instructions on canceling a policy. For further instructions, get in touch with your Equity insurance agent or call its customer service team at 1 (800) 777-0404.
Can you get Equity insurance outside of Oklahoma?
No. As a regional insurer, Equity Insurance offers its services exclusively in the Oklahoma market. People who live outside the state can’t obtain coverage through Equity.
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.
Alani Asis
Alani Asis is a personal finance freelance writer with nearly three years of experience in content creation. She has landed bylines with leading publications and brands like Insider, Fortune, LendingTree, and more. Alani aims to make personal finance approachable through fun, relatable, and digestible content.
5+ years in insurance and personal finance content
Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.
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