Freeway Insurance Explained

Freeway Insurance
Industry:Insurance
Predecessors:-->
Successors:-->
Founders:-->
Hq Location City:Huntington Beach, California
Hq Location Country:United States
Num Locations:503
Areas Served:-->
Key People:Cesar Soriano (CEO)
Profit:-->
Profit Year:-->
Owners:-->
Num Employees:2,000
Parent:Confie
Website:https://www.freeway.com/

Freeway Insurance Services America, LLC, or Freeway Insurance, is an American insurance agency with over 500 retail locations in the United States.[1] [2] The company sells primarily non-standard auto insurance,[3] which is required for new and higher risk drivers. The company's headquarters is in Huntington Beach, California.[4] [5]

History

Freeway Insurance was founded in 1987 by Kelly Turton in Orange County, California.[6] Initially, the company’s focus was private passenger automobile insurance, which was then acquired by Westline Corp., which was then acquired by Confie,[7] one of the largest privately held insurance brokers in the United States[8] and a portfolio company of private equity firm ABRY Partners, in 2008.[9] Freeway Insurance has expanded through acquisitions made by Confie, including Colyer Insurance,[10] DeFranco Insurance,[11] CW Baker Insurance, and Lewiston Insurance.[12]

In 2021, Freeway Insurance became a sponsor for Trackhouse Racing Team’s No. 99 Chevrolet Camaro, driven by Daniel Suarez in the NASCAR Cup Series.[13] [14] Freeway Insurance has also partnered with the California DMV to register and document vehicles.[15]

In April 2021, Alliant insurance agreed to buy Confie, which includes Freeway Insurance.[16]

Operations

Freeway predominantly sells within the non-standard auto insurance market. As of 2020, it sells home owners and renter’s insurance, health insurance,[17] and motorcycle insurance.[18] Freeway Insurance also provides insurance to high-risk drivers with poor driving records.[19] There are 503 Freeway Insurance locations in the United States, with retail offices in 22 states.[20]

Since 2008, Freeway Insurance has operated in English and Spanish, and nearly 50% of its customers identify themselves as Hispanic or Latino.[21] [22] Freeway reports that nearly 70 percent of their insurance agents are multilingual. Freeway predominantly sells within the non-standard auto insurance market.[23]

In 2021, Freeway Insurance announced they would begin offering franchise opportunities to further develop their retail locations in the United States.[24]

Sponsorships

In 2021, Freeway Insurance began a motorsports sponsorship with a partnership with Trackhouse Racing and NASCAR driver Daniel Suárez. In February 2022, Freeway Insurance announced it would be the primary sponsor of Daniel Suárez for five events during the 2022 NASCAR Cup Series.[25]

Freeway Insurance has also been an official partner of the LA Galaxy Major League Soccer team since 2021.

Notes and References

  1. Web site: Bowman. Cynthia Paez. Freeway Insurance review 2021. 2021-06-04. Bankrate. en-US.
  2. Web site: Number of Freeway Insurance locations in the United States in 2021. 2021-08-02. ScrapeHero.
  3. Book: European Car. 2005. Argus Publishers. en.
  4. Web site: 2014-12-02. Orange County D.A.'s office is doing debt collectors' dirty work. 2021-06-04. Los Angeles Times. en-US.
  5. Web site: 2020-06-01. Freeway Car Insurance Review for 2021. U.S. News & World Report.
  6. Web site: 2006-11-08. Westline Corp. acquires Freeway Insurance Services. 2021-06-04. Insurance Journal. en-US.
  7. News: Yu. Jane. February 10, 2015. Confie Buys in Texas. en. Orange County Business Journal. December 9, 2020.
  8. Web site: Top 100 Property/Casualty Agencies . December 9, 2020 . Insurance Journal . en-US .
  9. News: Roumeliotis . Greg . Stone . Mike . September 21, 2015 . Exclusive: U.S. insurance broker Confie explores $1.6 billion sale - sources . en . Reuters . December 9, 2020 .
  10. Web site: 2015-06-02. Colyer Insurance bought out by Confie. 2021-06-04. bizjournals.com.
  11. Web site: 2013-11-04. Another WNY insurance firm is acquired by Confie Seguros. 2021-06-04. bizjournals.com.
  12. Web site: 2013-07-01. California insurance company acquires two WNY firms. 2021-06-04. www.bizjournals.com.
  13. Web site: Staff. Speedway Digest. Freeway Insurance Joins Trackhouse Racing. 2021-06-04. www.speedwaydigest.com. April 6, 2021 . en-gb.
  14. Web site: 2021-04-08. Daniel Suarez and Pitbull's Trackhouse Racing Bags Another Sponsor for the 2021 NASCAR Season. 2021-06-04. EssentiallySports.
  15. Web site: Freeway Insurance Services Inc. 2021-06-04. California DMV. en-US.
  16. Web site: 2021-04-21T14:51:00. Alliant agrees deal to buy personal lines intermediary Confie from Abry. 2021-08-02. The Insurer. April 21, 2021 . en.
  17. Web site: USPTO. FREEWAY INSURANCE - Freeway Insurance Services, Inc. Trademark Registration. 2021-06-04. USPTO.report. en.
  18. Book: Official Gazette of the United States Patent and Trademark Office: Trademarks. 2006. U.S. Department of Commerce, Patent and Trademark Office. en.
  19. Web site: Our Take: Freeway Insurance Review (2021). 2021-06-04. Motor1.com. en.
  20. Web site: Number of Freeway Insurance locations in the United States. 2021-06-04. ScrapeHero.
  21. Web site: July 8, 2011 . Freeway Insurance CEO Envisions Becoming National Provider of Nonstandard Auto . December 9, 2020 . InsuranceNewsNet . en-US .
  22. Web site: July 8, 2011 . Freeway Insurance Names Waked CEO, Klaeb Chairman . December 9, 2020 . Insurance Journal . en-US .
  23. Web site: Simpson . Andrew G. . November 27, 2019 . Confie Rebrands Standard Business as InsureOne; Keeps Freeway for Nonstandard . December 9, 2020 . Insurance Journal . en-US .
  24. Web site: Freeway Insurance Franchise Information . 2022-05-11 . Entrepreneur . en.
  25. Web site: 2022-02-03 . Freeway Insurance Extending Partnership with Daniel Suarez, Trackhouse Racing . 2022-05-11 . TobyChristie.com . en-US.

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