Online insurance is faster and cheaper.
Everything can be done online these days, even ordering groceries using an app or scheduling a video appointment with your doctor. Purchasing insurance is the same. Online and app-based services are provided by numerous digital insurance providers. Speaking with an agent is no longer necessary for many customers, especially for specialized coverage like motorbike insurance.
Additionally, the era of insurtech has shown to be incredibly enlightening. In just a few minutes, consumers can set up a policy, determine how much coverage they need, and receive the answers to all of their most pressing issues while purchasing insurance.
No matter what kind of policy you require, we have investigated the top digital insurance providers on the market to assist you locate the appropriate coverage.
The 5 Top Digital Insurance Providers of 2024
- Top Business Insurance: Next Insurance
- Top Homeowners Insurance: Lemonade
- Top Auto Insurance: Root
- Top for Multiple Lines: Esurance
- Top Health Insurance: Oscar Health
Highlight Table of The 5 Top Digital Insurance Providers of 2024
| Provider | Specialty | Pros | Cons | Highlight Point |
| Next Insurance | Business | – Multiple coverage types – Available in 49 states – Quick online purchasing | – Not all products available in every state | Next Insurance offers various coverage options for small businesses, with quick online purchasing. |
| Lemonade | Homeowners | – Fast processing – Charitable donations from unused premiums – User-friendly mobile app | – Not rated by AM Best | Lemonade simplifies homeowners insurance with quick online quotes and donations to charity. |
| Root | Auto | – Personalized premiums based on driving habits – Comprehensive mobile app features – Good driver rewards | – Limited availability – Test drive requirement | Root rewards good drivers with personalized premiums based on driving habits and offers comprehensive mobile app features. |
| Esurance | Multiple Lines | – Nationwide availability – Numerous discounts – User-friendly platform | – Customer complaints – Installment fees | Esurance offers various insurance products with nationwide availability and numerous discounts. |
| Oscar Health | Health | – 24/7 telemedicine availability – ACA-compliant coverage tiers – HSA-compatible plans | – Limited availability – Reduced in-network providers | Oscar Health provides simplified access to healthcare services and telemedicine with various plan options. |
1. Next Insurance- Top BUSINESS INSURANCE
Having insurance to safeguard your small business can be crucial, regardless of whether you are a lone proprietor or have twenty staff. It only takes a few minutes to purchase a policy with Next Insurance, which provides online business insurance coverage for a range of businesses and industries.
Pros
- Eight different coverage options
- accessible right now in 49 states
- More than 1,300 distinct company categories are covered.
- Purchasing insurance online typically takes around ten minutes.
Cons
- Not every state has access to every commodity.
Highlight of Next Insurance
Whether you employ one person or twenty, Next Insurance was established in 2016 and provides a range of small business insurance solutions to protect you and your organization.
The company’s ability to design complex commercial insurance while keeping costs low has allowed it to maintain its ranking as the finest business insurance in our study.
For general liability insurance, business insurance, business owner’s policy (BOP) coverage, property insurance, commercial truck/auto insurance, workers’ compensation insurance, or professional liability/E&O coverage, Next Insurance offers quick online quotes. Munich R.E., which has an A+ (Excellent) rating from AM Best, backs all policies.
You can purchase coverage online or over the phone at possibly very inexpensive rates if you work as a photographer, DJ, contractor, fitness instructor, educator, consultant, or in any of the other 1,300+ professions that Next Insurance covers.
Regretfully, your state might not provide all business insurance plans.
2. Lemonade – TOP HOMEOWNERS INSURANCE
Lemonade makes purchasing homeowners insurance easier by allowing you to do so online in a matter of minutes. Approved claims are even paid out right away, directly to your linked bank account. With the extensive range of extra coverage options Lemonade provides, creating a policy that precisely meets your needs is made simpler.
Pros
- 1. Obtain a quotation quickly and get a policy within minutes.
- 2. Money that’s not needed is given to charities.
- 3. A robust smartphone app simplifies filing claims and maintaining coverage.
- 4. Simple claims are frequently settled right away and deposited straight into the associated bank account.
- 5. Lemonade’s financial stability rating is an A.
Cons
- 1. Not rated by AM at this time Best Lemonade had more than twice as many customers as anticipated.
Highlight of Lemonade
Even though Lemonade didn’t start until 2015, they’ve made a lot of noise in the title insurance world since then.
The company provides insurance for homeowners, renters, and condos. Homeowners insurance is offered in all 50 states and the District of Columbia.
It’s easy to buy any policy through Lemonade’s website or mobile app. Getting a price and purchasing a new policy both take only a few minutes, which is one reason why we chose it as the best home insurance company. You can reach customer service by phone, email, or the company’s powerful mobile app if you have questions, want to buy coverage, or need to make a claim.
As part of your monthly premiums, Lemonade takes a flat amount to cover costs and pay claims with the rest. After that, whatever is left goes to the organization of your choice. Lemonade doesn’t make extra money by denying homeowners’ claims or paying out less, which gives many customers extra peace of mind that they’ll have the coverage they need when they need it most.
While AM Best hasn’t looked at Lemonade, the company does have a “A” (Exceptional) rating from Demotech, a company that does financial research.
3. Root- TOP AUTO INSURANCE
Root is a tech-savvy car insurance company that wants to reward good drivers directly for being good drivers. The app has a lot of features, and drivers can often cut their insurance rates in half or more.
Pros
- Rewarding safe driving practices are given to good drivers.
- Clients can reduce their car insurance costs by more than half.
- Every policy includes roadside assistance (drivers in California not covered).
- Everything is controlled via the robust mobile app from Root.
Cons
- Currently, only 41 states have access to it.
- Before being eligible, you must take part in a two- to three-week test drive.
- Motorcycles, ATVs, and commercial vehicles are not yet covered by Root.
Highlight Point of Root
Over the past five years, Root, which was founded in 2015, has gradually increased its footprint in the vehicle insurance market.
The innovative “test drive” feature of the app-based platform, which lets drivers save money on premiums based on their driving patterns before a quote is ever computed, is what makes it the winner of our best auto insurance category.
The Root test drive is a digital trip tracker that lasts two or three weeks and is used exclusively through the Root mobile app. This allows Root to measure and assess your regular driving behaviors, such as your speed, level of anger, and even the times of day you drive most frequently. Root uses this information to determine your driving risk more accurately, which allows them to reduce your premiums.
You may quickly purchase coverage using the app with a credit card or even Apple Pay after the test drive is finished and a quote is provided.
At the moment, Root’s coverage is a little restricted; they are only active in 41 states and do not insure motorbikes, ATVSs, or other unique vehicles. Nonetheless, the platform is constantly growing, and they anticipate soon being available in more states.
4. Esurance-TOP FOR MULTIPLE LINES
Esurance provides the coverage you need, whether it’s for your life, your automobile, your motorcycle, your pet, or anything else entirely. Depending on your state, you may select from a variety of insurance lines to receive the coverage you require or combine numerous policies at a discounted rate. Whatever your coverage needs, Esurance is worth a look because of its user-friendly mobile app and a wide selection of discounts.
Pros
- provides a selection of insurance goods
- In all fifty states and Washington, DC
- Many savings are available to drivers
- A reliable website and mobile app simplify the purchase and administration of policies.
Cons
- High volume of grievances from customers
- There are just 43 states that offer auto insurance.
- Monthly premium payments are subject to an installment fee for customers.
Highlight Point of Esurance
Because of its user-friendly website and abundance of insurance options, Esurance was selected as the top overall provider. You can choose to speak with an agent at your convenience.
Since 1999, Esurance has written policies and is supported by Allstate, the nation’s largest publicly traded personal insurer with an AM Best rating of A+ (Superior).
Although some goods are not available in every state, it functions in the majority of them.
You can get quotes, bundles, and buy a lot of Esurance’s products online or using the mobile app without ever having to talk to an agent. It should be noted that Esurance does impose a monthly installment fee if you do not intend to pay your premiums in full online at the beginning of your policy. This could cost you anywhere from $3 to $10 a month, depending on your coverage.
Although Esurance doesn’t have any physical locations, they do encourage you to contact them via phone, email, or social media.
5. Oscar Health- TOP HEALTH INSURANCE
Within their expanding healthcare network, Oscar Health facilitates the simple connection between patients and healthcare professionals. While the program is now limited to a few states, it provides members with access to state-of-the-art facilities and a round-the-clock link to the necessary care.
Pros
- Free telemedicine is offered around-the-clock.
- Some states provide plans that are compatible with HSAs.
- There are four available coverage tiers in compliance with the Affordable Care Act.
Cons
- You can only get it in certain states.
- Their network of in-network providers was recently shrunk.
- Some benefits are only available to people who take part in certain places.
Highlight Point of Oscar Health
Since the Affordable Care Act was passed ten years ago, health insurance looks very different from what it did back then. It can be easy and straightforward to get coverage for yourself or your family through Oscar Health. That’s why we picked Oscar as the best health insurance option we looked at.
Oscar has plans for businesses and Medicare Advantage, as well as plans for people and families. At the moment, they are only offered in a few states, but that is always changing.
You can get the care you need right away with Oscar, especially when it comes to telemedicine. You can make an appointment with a board-certified doctor at any time of the day or night for as little as 15 minutes. It doesn’t matter if you need a diagnosis or just want to refill a medication; there is no copay or out-of-pocket cost.
You can find doctors and talk to them through the Oscar app. You can also see lab results, bills and medications, and even look over claims. The app also lets you keep track of your daily steps, and if you meet your health goals, you can get up to $100 in Amazon points every year.
Some of Oscar’s best features are only available to people who are part of certain plans in certain places.
FAQ of Top 5 Digital Insurance
Digital insurance is sold online or via a mobile app. Live customer service and digital algorithms write and price policies on these platforms. Digital insurance firms offer vehicle, house, renters, life, and healthcare insurance.
Some of these digital insurance providers are startups, but many are owned and backed by trusted insurance corporations.
Insurance will remain personalized and each company will have its own underwriting methods and algorithms. So digital insurance costs are hard to estimate.
However, many consumers save money with insurtech. Because most of these companies underwrite policies using digital platforms and algorithms, they have less overhead. Many of these companies have few or no physical offices, reducing their operational costs.
We chose the finest digital insurance company from three to 10 in each area. Financial stability ratings, consumer reviews, and national average consumer complaint indexes were evaluated. When choosing, we examined mobile access, nationwide availability, and affordability.