Beam Insurance: The Ultimate Guide

Beam insurance is one of the latest insurance companies that have been making waves in the industry. With its unique selling proposition of providing low-cost premiums, great coverage, and an excellent customer service experience, Beam insurance is fast becoming the choice of many people looking for affordable insurance policies. In this article, we will be taking an in-depth look at Beam insurance and all the various benefits it offers.

What is Beam Insurance?

Beam insurance is a relatively new insurance company that was launched with the intention of providing affordable insurance policies to people. The company was started in 2018 by Alex Timm, a former insurance executive, and Dan Preston, a former product manager at LinkedIn.

The company aims to disrupt the traditional insurance industry by offering unique features such as:

Overall, Beam insurance is a great option for those looking for affordable insurance policies that do not compromise on coverage.

How Does Beam Insurance Work?

Beam insurance works like any other insurance company. You choose a policy that suits your needs and budget, pay your premiums on time, and in the event of a claim, you file a claim with the insurance company.

One unique feature of Beam insurance is its use of artificial intelligence to determine the risk of a particular customer. The company’s algorithm looks at factors such as driving history, credit score, age, and other variables to determine the likelihood of an accident occurring.

Based on this risk assessment, Beam insurance is able to offer lower premiums to customers who are deemed to be low risk. This is one of the reasons why Beam insurance is able to offer such low-cost premiums.

What Insurance Policies Does Beam Insurance Offer?

Beam insurance offers a wide range of insurance policies to cater to different needs. Some of the policies offered by Beam insurance include:

Auto Insurance

Beam insurance offers auto insurance that covers bodily injury, property damage, collision, and comprehensive coverage. The company also offers roadside assistance and rental car reimbursement as part of its auto insurance policy.

Homeowners Insurance

Beam insurance’s homeowners insurance policy covers damage to the home and personal belongings due to fire, theft, or other covered perils. The policy also includes liability coverage in case someone is injured on the insured property.

Renters Insurance

Beam insurance’s renters insurance policy covers personal belongings in case of theft, fire, or other covered perils. The policy also includes liability coverage in case someone is injured while on the rented property.

Small Business Insurance

Beam insurance offers small business insurance that covers a wide range of risks such as property damage, liability, and workers’ compensation. The policy can be customized to suit the needs of the business.

Why Choose Beam Insurance?

There are several reasons why you should consider choosing Beam insurance for your insurance needs. Some of these reasons include:

Low-cost Premiums

Beam insurance offers some of the lowest premiums in the industry, making it an attractive option for those on a budget. The low-cost premiums are made possible by the company’s use of artificial intelligence to determine the risk of a particular customer.

Great Coverage

The coverage offered by Beam insurance is comprehensive and covers a wide range of risks such as bodily injury, property damage, and liability. The company’s policies are designed to provide protection against unforeseen events that could result in financial loss.

Excellent Customer Service

Beam insurance prides itself on its excellent customer service, which is available 24/7. The company’s customer service representatives are knowledgeable and are always available to answer any questions or concerns that customers may have.

Frequently Asked Questions

Is Beam Insurance a Legitimate Insurance Company?

Yes, Beam insurance is a legitimate insurance company. The company is licensed to offer insurance policies in all 50 states in the U.S.

How Does Beam Insurance Determine my Premium?

Beam insurance uses artificial intelligence to determine the risk of a particular customer. The company’s algorithm looks at factors such as driving history, credit score, age, and other variables to determine the likelihood of an accident occurring.

How Do I File a Claim with Beam Insurance?

To file a claim with Beam insurance, you need to contact the company’s claims department by phone, email, or through their website. The claims department will guide you through the process of filing a claim and will keep you updated on the status of your claim.

Can I Cancel my Policy with Beam Insurance?

Yes, you can cancel your policy with Beam insurance at any time. However, you may be charged a cancellation fee depending on the terms of your policy.

Is My Personal Information Safe with Beam Insurance?

Yes, your personal information is safe with Beam insurance. The company uses advanced security measures to protect the personal information of its customers.

Conclusion

Beam insurance is a great option for those looking for affordable insurance policies that do not compromise on coverage. The company’s use of artificial intelligence to determine the risk of a particular customer enables it to offer low-cost premiums without compromising on coverage. Its excellent customer service and range of insurance policies make it a great choice for anyone looking for insurance coverage.