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Loop offers all standard car insurance coverage types, including the following.
Bodily injury liability
If you injure another driver or passengers in another vehicle during an accident, this coverage will pay for their medical expenses. Bodily injury liability coverage is required in most states.
Personal property liability
If you damage property during an accident, this coverage will pay for the damage. Personal property liability coverage is required in most states.
Uninsured and underinsured motorist
If another driver is responsible for an accident but doesn’t have insurance or reaches their insurance limit, this coverage will help pay for expenses.
Medical payments
If you or passengers in your vehicle are injured during an accident, this coverage will help pay for your medical expenses.
Comprehensive
If your car is damaged due to fire, theft, vandalism, and hail, comprehensive coverage will help pay for the damage. Comprehensive coverage includes a deductible.
Collision
If your car is damaged during an accident, collision coverage will help pay for the damage. Collision coverage includes a deductible.
Loop also offers several types of add-on coverage, including the following.
Roadside assistance
If your car breaks down and you need mechanical help or a tow, this coverage will help cover the cost.
Car rental coverage
If you rent a car while traveling in the US, Loop will extend your coverage to the rental vehicle.
Gap insurance
If you have a loan on your vehicle and it’s totaled during an accident, you could end up owing more than the depreciated value of the vehicle that your insurance covers. Gap insurance covers this difference.
Loop insurance is currently available only in Texas. The company has plans to roll out in 10 additional states in the near future.
You can apply for coverage through Loop online or through the Loop mobile app (iOS and Android). You’ll need to provide your name, address, and driver’s license number so that Loop can check your driving record. Loop does not check your credit score when pricing policies.
Loop will generate a quote that you can customize with the coverage amounts and deductibles you prefer. Your premium is updated instantly to reflect changes in your coverage.
When you’re happy with your quote, you can check out online to complete your purchase. Loop insurance policies typically take effect starting at midnight on the day after they are purchased.
Once you’re insured with Loop, you’re required to keep the Loop app active for at least 21 days per month. The app keeps track of when you’re driving and collects data about your speed, braking habits, how many miles you drive, and what time of day you typically drive. You can deactivate tracking if you’re a passenger in another vehicle rather than the driver.
Loop uses this data to more accurately price your policy when it’s time to renew after your first six months. Note that this means your premium may change significantly upon your first renewal.
You can file a claim with Loop online, through the mobile app, or over the phone. You’ll need to provide details about what happened, and you may be asked to take photos of your vehicle. Loop’s claims team is available 24/7.
Loop is reinsured by Hannover Life Reassurance Company of America, the third-largest reinsurance company in the world. Hannover Life Reassurance Company of America has an A+ financial stability rating from A.M. Best.
Loop offers customer support in English and Spanish by phone and email. The support team is based in Austin, Texas and is available from 9am-7pm Monday-Friday and 9am-6pm Saturday-Sunday, Central Time. The claims support team is available 24/7.
Loop also has detailed FAQs pages that explain how to purchase a policy, how tracking through the Loop mobile app works, and how to file a claim.
Phone: (844) 544-5667
Loop is a new insurer that aims to use driving data and artificial intelligence to price car insurance more fairly and more accurately. You can purchase a policy online, then drive with the Loop mobile app activated to start collecting data about your driving habits. Loop uses this data when pricing your policy at renewal.
Loop is only available in Texas for now, but has plans to expand into 10 additional states. Policies are reinsured by Hannover Life Reassurance Company of America, which has an A+ financial stability rating from A.M. Best.
