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Fred Loya Insurance Review: Costs and Coverage (2022) – MarketWatch

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Fred Loya Insurance first opened for business in 1974 in El Paso, Texas. Since then, the company has grown to more than 500 office locations across the states of Alabama, Arizona, California, Colorado, Georgia, Illinois, Indiana, Nevada, New Mexico, Nevada and Texas.
These offices are typically located in convenient locations where policyholders may frequent, including grocery stores and other major chains such as:
EP Loya Group, which owns the car insurance company, also owns several other agencies. The other agencies include:
According to some reviews, Fred Loya Insurance tends to offer competitive rates for high-risk drivers and above-average rates for average drivers. However, rates on car insurance can vary greatly. The rates an insurer offers your neighbor may differ from yours.
Icons showing the factors that influence the cost of car insurance
Auto insurance premiums vary because insurance companies adjust them based on a few variables. Some of the most influential factors include:
On its website, Fred Loya Insurance doesn’t list any discounts. That doesn’t necessarily mean that the company doesn’t offer any, but most insurers list at least a few online. You can always ask a local insurance agent if the company offers any car insurance discounts.
When it comes to auto coverage, Fred Loya Insurance has fairly limited options. The company has policies to satisfy minimum coverage requirements in the states where it operates. It also has the other standard coverages required to create a full coverage policy.
Here is a list of common options, and what they cover:
Fred Loya Insurance has an F rating from the Better Business Bureau (BBB). While that’s also the case for some major insurers that earned positive ratings from our team, the company has a few other red flags. In 2012, the Texas Department of Insurance fined Fred Loya Insurance for misleading business practices.
The company’s complaint index with the National Association of Insurance Commissioners (NAIC) is 2.4. This means that Fred Loya Insurance has a complaint index that is 2.4 times as high as the NAIC says can be expected for the market.
Among customers on the BBB website, Fred Loya Insurance Group has a 1.0 out of 5.0-star rating and no positive reviews. Negative reviews for the company tend to mention communication problems, especially during the claims process. Many complaints in the customer review section, however, were from people who were in an accident with Fred Loya-insured drivers and not policyholders themselves.
It is difficult for Home Media reviews team members to recommend Fred Loya Insurance to anyone other than perhaps high-risk drivers who need coverage. Between fines from a state government for its business practices and the overwhelmingly negative sentiment among customers and industry ratings organizations, most drivers can probably find coverage from a better provider.
*Ratings are determined by our editorial review team. Learn more about our scoring methodology below.
While we can’t recommend Fred Loya Insurance for all but a few drivers, there are several companies we do recommend. It’s always a good idea to compare car insurance quotes from multiple providers. Our team suggests starting with the following companies:
In our 2022 auto insurance study, State Farm earns the highest score and our Editor’s Choice award. The nation’s largest insurer offers an immense selection of coverages and plenty of discounts. State Farm is an especially good choice for households with younger drivers, as the company offers several discounts that can help lower the high cost of insuring them.
Keep reading: State Farm insurance review
Throughout our insurance study, our team noticed that Geico consistently offers some of the cheapest coverage for drivers across the country. Between lower-than-average rates and a slew of discounts, even additional coverage options like mechanical breakdown insurance can be inexpensive. Those looking for affordable car insurance are more than likely to find it at Geico.
Keep reading: Geico insurance review
EP Loya Group is the owner of Fred Loya Insurance. The company’s CEO is Fred Loya Jr.
Fred Loya and other insurance companies may check credit scores in states where it is legal to do so. Drivers with lower credit scores typically pay more for car insurance than drivers with higher scores.
Fred Loya Insurance Group does not currently have an app. The company did have an app that was a mobile version of its website, www.fredloya.com, but it was unpublished for Android in 2015.
A comprehensive policy from Fred Loya covers theft, as well as other non-accident-related losses. For example, the same policy would cover damage from fire, vandalism or weather.
By using the location finder on their website, you can find phone numbers for various locations across the country. A Google search for the company delivers a number for the Fred Loya Insurance location on Lee Trevino Drive in El Paso, Texas.
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Here are the factors our ratings take into account:
 
*Data accurate at time of publication.
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