Hallmark Financial Insurance Review: Is It the Right Choice for You?

Hallmark Financial has offered auto insurance policies for 34 years. Headquartered in Texas, the company provides a good range of coverage options through independent agents and third-party companies. You can manage your policy through customer service, the website, and the mobile app.

But AM Best dropped Hallmark Financial Services’ financial strength rating from an A- to NR (not rated) in 2023, indicating potential financial issues. While some of Hallmark’s insurance entities have few complaints, others don’t perform as well.

Let’s dig through the details and discover if Hallmark could be the best car insurance company for you.

Is Hallmark a Good Choice for Auto Insurance?

The table below highlights Hallmark’s performance across five key categories, each rated on a scale of one to five.

These categories reflect what’s most important to many drivers and should provide a comprehensive overview of the company’s strengths and weaknesses.

Hallmark does well in terms of cost but earns midrange scores for customer satisfaction, ease of use, and industry reputation, but it scores low for availability.

Where Hallmark stands out

Hallmark offers cheaper-than-average rates for drivers with many backgrounds and offers substantial savings on liability-only policies and policies for teen drivers. The company also offers an extensive range of insurance products, including aviation coverage.

Where Hallmark falls short

Hand-offs between independent agents and Hallmark customer service can be clumsy and confusing. The company doesn’t use claims agents but relies solely on claims adjusters to handle the claims process.

Hallmark Insurance Reviews: What Real Customers Are Saying

You go through an independent agent to buy your Hallmark policy, but you’ll work with Hallmark customer service afterward. Customer feedback is generally positive — the company earns 3.45 out of 5 stars on Clearsurance.

Many positive reviews, including the one below, discuss a friendly customer service department and a convenient online portal.

Another common theme is low rates. Several customers say Hallmark offered them the cheapest option, as it did for the reviewer below.

On the negative side, some customers cite issues with payment processing, an unexpected charge, or an unexplained rate increase. For example, the customer featured in the screenshot below received a notice for conditional renewal but struggled to contact anyone who could explain what that meant.

How Much Is Hallmark Car Insurance?

Different car insurance companies use different formulas to calculate rates, so it’s always best to compare your options. Average rates are based on a variety of factors, including your age, driving history, vehicle type, and more.

The rate table below shows how Hallmark’s average rates vary by policy type, age, and driving history compared to national averages.

Most drivers can find savings with Hallmark. Teen drivers potentially save the most — an average of $240 per year. The company also offers significant savings on liability insurance.

But if you need full coverage, Hallmark’s rates are slightly higher than average. And drivers with a recent ticket or at-fault accident pay around the national average.

Hallmark vs. the Competition

When shopping for a new policy, you should always compare policies from multiple companies. Here’s how Hallmark compares to competitors.

Hallmark vs. GEICO

GEICO has a larger coverage area, more car insurance discounts, and a better industry reputation than Hallmark. But its coverage options and ease-of-use scores are similar. Teens, drivers with at-fault accidents, and people with speeding tickets may get a cheaper rate with Hallmark.

Hallmark vs. State Farm

State Farm has higher customer satisfaction, a stronger industry reputation, and more discounts than Hallmark, but the two have similar ease-of-use scores and available coverage options. Hallmark may provide cheaper premiums to drivers with speeding tickets or at-fault accidents on their record.

Hallmark vs. Progressive

Progressive has stronger customer service, wider availability, and a better industry reputation. It also offers more discounts and coverage options than Hallmark. But Hallmark often offers cheaper rates to teens, drivers with speeding tickets, and drivers with at-fault accidents.

Hallmark Car Insurance Discounts

Auto insurance discounts are one of the easiest ways to save on your car insurance. Unlike some insurers, Hallmark doesn’t offer many discounts or specify how much you can save with each. That said, discounts can vary by state, so you should ask your agent about potential savings opportunities.

Hallmark lists the following six discounts on its website:

• Foreign driver’s license: Available to drivers with a valid foreign driver’s license.
• Homeowner: Lowers your rate if you own a home.
• Multi-car: Insures multiple vehicles under the same policy.
• Multi-policy: Applies when you have multiple insurance policies (e.g., renters and auto) with Hallmark.
• Prior coverage: Reduces your rate if you’ve maintained continuous insurance coverage without any lapses.
• Recurring payment: Applies for setting up automatic recurring payments.

Hallmark’s Available Auto Insurance Coverages

Hallmark offers a solid range of car insurance coverage options, varying by state. This includes:

• Bodily injury liability: Covers injuries you cause to others.
• Property damage liability: Pays for damage you cause to others’ property.
• Uninsured/underinsured motorist coverage: Pays for damages if a driver without (or without enough) insurance hits you.
• Comprehensive coverage: Pays to repair or replace your car after non-collision incidents.
• Collision coverage: Pays for your vehicle damage after an accident.
• Medical payments (MedPay): Covers medical expenses for you and passengers, regardless of fault.
• Towing and labor: Pays for towing and roadside assistance.
• Rental reimbursement: Covers rental car costs after an accident.
• Non-owner coverage: Provides secondary liability coverage when driving a vehicle you don’t own.
• SR-22 coverage: Provides a certification to the state for high-risk drivers to reinstate licenses.

Hallmark also provides policies for drivers with international driver’s licenses.

How to Get a Car Insurance Quote From Hallmark

You can get a quote from Hallmark through an independent agent, and they can help you compare your Hallmark quote with competitor’s policies.

Once you purchase your policy, you’ll work directly with the company going forward. You can manage your policy through the online portal or contact customer service over the phone. Hallmark also provides a live chat option — I connected with an agent in less than a minute when I tested the chat myself.

You’ll also work with Hallmark directly to handle claims.

What to Expect When Filing a Claim With Hallmark

You can file a claim with Hallmark by providing your policy number and personal information (e.g., name, email address, and telephone number) on the online form. Hallmark will assign an adjuster to your case to process your claim.

As seen in the two reviews below, many customers voice satisfaction about the fast and easy claims process.

But opinions differ based on experience. Negative reviews talk about waiting a long time to get a payout.

On the r/Insurance subreddit, insurance agents discuss claims with a Hallmark customer. The customer shown in the screenshot below allegedly waited two months for the company to resolve the claims. The agents believe the long wait could be due to staff shortages in the claims department.

More About Hallmark Financial

Hallmark’s other insurance products

Hallmark Insurance Group offers a wide range of common and uncommon insurance products. While many auto insurers also offer dwelling coverage, life insurance, and other products the average person or family might need, Hallmark offers limited dwelling products, instead focusing on aircraft and commercial policies.

Here’s a complete list of Hallmark’s insurance products, according to its website:

• Renters insurance
• Personal aircraft insurance
• Aircraft liability and physical damage insurance
• Airport liability coverage
• Flight school and charter operations coverage
• Contractor policies
• Manufacturing insurance
• Restaurant and hospitality coverage
• Commercial office building insurance
• High-rise condominium insurance
• Homeowner association policies

Hallmark Auto Insurance FAQs

Hallmark is a lesser-known insurer, so prospective customers often have questions about the company. Here are answers to the most common questions asked about Hallmark Insurance.

Does Hallmark have cheap car insurance?

Yes. Hallmark’s average rate of $127 per month is slightly cheaper than the national average, according to Compare.com data. Teens and drivers with liability-only policies often save the most with Hallmark.

Is Hallmark a good insurance company?

Hallmark Insurance offers affordable coverage and good customer service, but reviews suggest customer satisfaction varies.

Does Hallmark Insurance payout claims?

Yes. Hallmark pays for car insurance claims as long as the at-fault driver purchased adequate coverage for the incident. But a recently downgraded financial strength designation from AM Best indicates possible financial weaknesses.

Is Hallmark insurance expensive?

No. Hallmark’s rates are average or less than average for most drivers. But its full-coverage policies cost $196 per month, on average, according to our data analysis — slightly higher than the national average.

Data Methodology:

Data scientists at Compare.com analyzed more than 50 million real-time auto insurance quotes from more than 75 partner insurers in order to compile the rates and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information.

All the rates listed in this article have been collected from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide readers with insights into how auto insurance companies determine their premiums.

Rating Methodology:

Compare.com’s mission is to help our readers make more informed decisions about their personal finances. Our editorial staff has crafted a proprietary, objective rating formula — the Compare.com Rating — to make it easier for our readers to analyze and compare many of the industry’s most well-known insurers.

The score you see referenced in this article is based on several factors, including:

• Cost: How the insurer’s average rates compare to its direct competitors and the industry as a whole. This includes available savings opportunities, such as discounts and other factors.
• Customer satisfaction: How satisfied existing customers are with the service they receive. This includes the insurer’s scores among various third-party studies, such as the J.D. Power U.S. Insurance Shopping and Claims Satisfaction studies, and the National Association of Insurance Commissioners (NAIC) Complaint Index, among others.
• Ease of use: How easy it is for policyholders to utilize their policies. This includes mobile app availability, customer service availability, payment flexibility, and other related factors.
• Availability: The overall scope of the company’s insurance offerings. This includes available coverage types, national footprint, and other related factors.
• Industry reputation: A measure of the insurer’s overall standing within the industry. This includes its AM Best financial strength rating, BBB accreditation, and other related factors.

Sources:

1. AM Best, “Hallmark Specialty Insurance Company,” accessed June 9, 2024.
2. Business Wire, “AM Best Downgrades Credit Ratings of Hallmark Financial Services, Inc. and Its Subsidiaries; Maintains Under Review With Negative Implications Status,” accessed June 9, 2024.
3. National Association of Insurance Commissioners, “Hallmark Specialty Ins Co. National Complaint Index Report,” accessed June 8, 2024.
4. Clearsurance, “Hallmark Insurance Company,” accessed June 8, 2024.
5. Better Business Bureau, “Hallmark Financial Services,” accessed June 8, 2024.
6. Reddit, “Hallmark?,” accessed June 8, 2024.
7. Crunchbase, “Hallmark Financial,” accessed June 8, 2024.