Car Insurance Review of Cherokee Insurance Company
Cherokee Insurance Company offers commercial car insurance, group accident coverage, and worker’s compensation. Cherokee Insurance Company is a subsidiary of Oakland Financial Corporation. A.M. Best gave Cherokee Insurance Company and A rating.
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UPDATED: Jan 29, 2021
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- Cherokee Insurance Company is a subsidiary of Oakland Financial Corporation
- The company offers commercial car insurance, group accident coverage, and worker’s compensation
- A.M. Best gave Cherokee Insurance an A rating
Cherokee Insurance Company has served Michigan residents for over ten years and was incorporated in 2005. The company offers commercial car insurance, group accident, and worker’s compensation.
What Cherokee Insurance Company Has to Offer
Oakland Financial Corporation is the parent company of Cherokee Insurance Company. This company was the backbone of Cherokee as it increased its profits and expanded the business.
A.M. Best recently increased Cherokee’s insurance rating from an A- to an A. This rating is indicative of this company’s solvency.
Despite economic depression, this car insurance company was able to weather the recession evident over the last few years.
Cherokee Insurance provides coverage to truck drivers who are a huge market segment of the company.
Trucking companies were hit hard when gas prices rose to over four dollars per gallon in 2012. Cherokee was able to handle numerous car insurance claims from these businesses as many of them folded.
Cherokee was able to overcome a tremendous loss of capital with the help of Oakland Financial Corporation’s support. In the midst of the storm, the company was able to maintain its standing in the industry and the business community.
As a result, A.M. Best noted its confidence in Cherokee Insurance Company’s ability to overcome a volatile market while continuing to provide good service.