Acceptance Insurance

Acceptance Insurance Agency of Tennessee, Inc. (Acceptance Insurance or Acceptance) is a licensed insurance agency and subsidiary of First Acceptance Corporation[1]. Acceptance Insurance specializes in providing nonstandard auto insurance to people who may have experienced a few “bumps and bruises” in their driving or credit history, making insurance coverage more difficult to find. Acceptance also offers a variety of insurance and ancillary products, such as homeowners, rental, and commercial insurance.

Acceptance Insurance
TypePublic company
OTCQX:FACO
IndustryInsurance
Founded1969
Headquarters
Nashville, TN
Number of locations
338 (2022)
Revenue$347.52 million (2021)
Number of employees
1300 (2021)
ParentFirst Acceptance Corporation
Websitewww.acceptanceinsurance.com
Footnotes / references
[1],[2],[3],[4]

History

Acceptance Insurance began in 1969 in Nashville, TN[2] and has evolved into an omnichannel business with 338 brick-and-mortar stores[3] in 13 states, a Customer Service and Sales Call Center, and online sales and customer service platforms. The company currently employs more than 1300 team members and in 2021 had revenue of $347.52 million.[4]

Operations

Based in Nashville, TN, Acceptance sells insurance products at locations in 13 states[5]:  

  • Alabama
  • Arizona
  • California
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Mississippi
  • Ohio
  • Pennsylvania  
  • South Carolina
  • Tennessee
  • Texas

Acceptance products are also sold exclusively online in Missouri[6] and Virginia.[7]

Products

Acceptance offers many insurance coverages and additional products to meet customer needs:

Personal Insurance
  • Auto
  • Renters
  • Home
  • Dwelling Fire
  • Fire
  • Flood
  • Motorcycle
  • Recreational vehicles
  • Boat
  • Trailer
  • Mexico Travel Insurance
Commercial
  • Commercial auto
  • Commercial general liability
  • Worker’s compensation
  • Professional Liability /Errors and omissions
  • Umbrella
  • Garage Liability
  • Liquor Liability
Ancillary Membership Plans
  • Roadside Assistance
  • TeleMedicine
  • Travel Club (Hospital indemnification protection plan)
  • ID Theft Protection Plan
  • RX Discount Plan

Community Outreach

Acceptance’s 700-plus insurance agents live and work in the communities that the company serves. Community involvement is a primary tenet of the Acceptance business model and is demonstrated through local events at the store level and through national promotions like the 2021 “Get a Smile, Give a Smile” sweepstakes. This promotion awarded cash prizes totaling $100,000 to individual winners, who also received a cash prize to award to the charity of his or her choice.[8] In 2022, the company’s Back to School promotion gave away almost 40,000 backpacks to children in need in local communities.[9] The company also has partnerships with Habitat for Humanity and Big Brothers Big Sisters and offers team members Volunteer Time Off to use when volunteering for community causes.

Awards

Acceptance insurance was named to the Forbes 2022 lists for America’s Best Midsize Employers[10], Best Employers for Diversity[11] and Best Employers for New Grads[12]. The company also received the prestigious Reputation 800 Award[13] in 2021 and 2022 for its exceptional digital presence, designating it as one of the most consistently helpful, engaging, and responsive companies in the industry. Acceptance boasts an A+ rating with the Better Business Bureau of Middle Tennessee[14] and has been recognized by DSMN8 for being “some of the world’s most active insurance professionals on social media.

References
  1. "OTC Markets | Official site of OTCQX, OTCQB and Pink Markets". www.otcmarkets.com. Retrieved 2023-03-29.
  2. "First Acceptance Corporation (FACO) Stock Price, News, Quote & History - Yahoo Finance". finance.yahoo.com. Retrieved 2023-03-28.
  3. Insurance, Acceptance. "Acceptance Insurance announces the unexpected death of President and CEO Larry Willeford". www.prnewswire.com. Retrieved 2023-03-30.
  4. "First Acceptance Corporation". Duns & Bradstreet. Retrieved 2023-03-28.
  5. "Acceptance Auto Insurance Reviews: Coverage and Cost (2023)". MarketWatch. Retrieved 2023-03-29.
  6. "Company/Agent Search | Missouri Department of Insurance, Financial Institutions & Professional Registration". insurance.mo.gov. Retrieved 2023-03-29.
  7. "Licensed Private Passenger Auto Writers in Virginia in 2021" (PDF). The State Corporation Commission of Virginia. Retrieved 2023-03-29.
  8. Insurance, Acceptance. "Acceptance Insurance Launches $100K "Get A Smile, Give A Smile" Sweepstakes". www.prnewswire.com. Retrieved 2023-03-29.
  9. Insurance, Acceptance. "Acceptance Insurance donates 40,000 backpacks filled with school supplies to students nationwide". www.prnewswire.com. Retrieved 2023-03-29.
  10. "Acceptance Insurance named to Forbes America's Best Employers 2022 List". Bloomberg.com. 2022-02-10. Retrieved 2023-03-29.
  11. COUNCIL", "JARED. "America's Best Employers For Diversity 2022". Forbes. Retrieved 2023-03-29.
  12. SHACKNAI", "GABBY. "America's Best Employers For New Graduates 2022". Forbes. Retrieved 2023-03-29.
  13. "The 800 Award: 2023 U.S. Finance Award Winners" (PDF). www.reputation.com. Retrieved 2023-03-29.
  14. "Acceptance Insurance | Complaints | Better Business Bureau® Profile". www.bbb.org. Retrieved 2023-03-29.
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