Insurance company review • Status update
Loop Auto Insurance Review: What Happened and What to Do Now
This Loop auto insurance review starts with the most important fact: Loop, the Austin-based auto insurtech, entered an assignment for the benefit of creditors (ABC) in December 2025, according to Coverager and The Insurer. That is a liquidation process outside of bankruptcy court, and it followed layoffs, a halt to direct quoting, and operational disruptions.
If you have or had a policy through Loop, this page explains what an ABC means, how to find out who is responsible for your policy and claims, and how to replace coverage without a gap. Blake Insurance Group is an independent agency; we are not affiliated with Loop.
Find replacement coverage
If you need new coverage, tell us about your drivers and vehicles, and a licensed agent will follow up with options available to us. Submitting the form does not bind coverage.
If the form does not load, call 888-387-3687, Monday through Friday, 9:00 to 5:00, or email info@blakeinsurancegroup.com.
What happened to Loop
Loop launched car insurance in Texas in 2021 with a pitch built around pricing that leaned on driving behavior and community factors rather than traditional credit-based factors. According to Coverager, Loop laid off about 23 employees in summer 2024 and shifted toward selling through partners. In January 2025, Coverager reported that Loop's website and app no longer produced Texas car insurance quotes. In December 2025, Coverager and The Insurer reported that Loop had entered an assignment for the benefit of creditors, launched December 4, 2025, amid a dispute between its co-founders and reports that independent agents had not received commissions.
What an assignment for the benefit of creditors means
In an ABC, a company transfers its assets to a third-party assignee, who sells them and distributes the proceeds to creditors. It usually involves little or no court oversight. An ABC of an agency or managing general agent is different from the insolvency of an insurance company: the insurer that issued a policy generally remains responsible for that policy and its claims, even if the agency that sold it stops operating.
What Loop policyholders should do
- Find your insurer. Look at your declarations page or ID card for the name of the insurance company that issued the policy.
- Contact that insurer directly about your policy status, renewal, billing, and any open claims.
- Contact the Texas Department of Insurance if you cannot reach anyone or need help.
- Do not let coverage lapse. Texas requires 30/60/25 liability. Arrange replacement coverage before any expiration.
- Keep records of payments, policy documents, and all communications.
Open claims
If you have an open claim, contact the issuing insurer for the claim number and adjuster contact. Keep photos, estimates, receipts, and correspondence. If you were hit by a driver insured through Loop, file the claim with that driver's insurer as named on their ID card, or use your own collision or uninsured motorist coverage and let your insurer pursue recovery.
How we reviewed Loop
We reviewed Loop the way we would want a client to evaluate any insurance shopping service or insurer. We did not purchase a policy or receive compensation from Loop for this review. Our process:
- Public disclosures. We read the company's own descriptions of how it works, who it is, how it is paid, and what it does with your data.
- Licensing. We looked for the licensed entity behind the service, since only licensed insurers and agencies can sell insurance.
- Independent reporting. We checked recent coverage by trade and consumer publications where available.
- Consumer fit. We considered who is likely to benefit and what trade-offs a typical driver should understand.
We do not assign star ratings. Your best option depends on your drivers, vehicles, address, and coverage needs.
Replacing your coverage
When shopping for new coverage, match or improve your limits and compare these terms on every quote.
| Coverage | What it pays for | What to match |
|---|---|---|
| Bodily injury liability | Injuries you cause to others | Per-person and per-accident limits, such as 100/300 |
| Property damage liability | Damage you cause to others' property | Same limit on both quotes, such as $100,000 |
| Uninsured/underinsured motorist | Your injuries when the at-fault driver lacks enough coverage | Same limits; ideally equal to your liability limits |
| Collision | Damage to your car from a crash | Same deductible |
| Comprehensive | Theft, fire, hail, flood, animal strikes, glass | Same deductible; note any glass option |
| Medical payments or PIP | Medical costs for you and passengers | Same limit; PIP rules depend on your state |
| Rental and roadside | Transportation during repairs; towing | Same daily and total limits |
Limits shown are examples, not recommendations. State minimum requirements differ.
How to verify any agency or insurer
Before buying through any website or app, confirm who is selling you the policy and who will issue it:
- Find the licensed agency or insurer named in the site's footer, terms, or license page.
- Look up the agency or producer on your state insurance department's license search, or through the National Insurance Producer Registry (NIPR).
- Look up the insurer on your state insurance department's company search to confirm it is authorized in your state.
- Save the insurer's name and policy number once issued, since that is who handles claims.
A legitimate service will make this information easy to find. Be cautious if you cannot identify the licensed entity.
Lessons for choosing any insurtech
Loop's story shows why it matters who issues your policy, how financially strong that company is, and whether the agency selling it is stable. Before buying from any newer company, check its license, the issuing insurer's ratings, and complaint data. Our startup auto insurance companies guide explains what to look for.
Switching without a gap
If a new quote is lower, switch carefully so you are never uninsured:
- Confirm the final price after the insurer verifies your information.
- Set the new policy to start on or before the date the old one ends.
- Give the new insurer your lender or lessor information if the vehicle is financed.
- Save your new ID cards and declarations page.
- Cancel the old policy effective the same day, and ask about any refund of unused premium.
- If you have an SR-22, confirm the new insurer files it before the old filing ends.
Texas county mutual insurers explained
Many Texas auto programs, especially those sold by newer companies and nonstandard agencies, are written through county mutual insurance companies. County mutuals are a uniquely Texas type of insurer with more rating flexibility than standard insurers. An agency like Loop can design a program and sell it, while the county mutual issues the policy, often with reinsurance behind it. If the agency stops operating, the county mutual that issued your policy is the company to contact.
Texas requirements for replacement coverage
| Coverage | Minimum |
|---|---|
| Bodily injury liability | $30,000 per person / $60,000 per accident |
| Property damage liability | $25,000 per accident |
| PIP and UM/UIM | Must be offered; can be rejected in writing |
Source: Insurance Information Institute table.
How replacement quotes are priced
Most insurers price a policy using your driving record, years licensed, age where allowed, the vehicle, where it is garaged, annual mileage, coverage limits, deductibles, prior insurance history, and, where state law permits, a credit-based insurance score. Each insurer weighs these factors differently, which is why quotes for the same driver can differ by hundreds of dollars. Improving the factors you control, especially your record and continuous coverage, pays off over several renewals.
What to have ready to replace coverage
These details help an agent quote replacement coverage quickly.
- Current declarations page. Including the issuing insurer's name.
- Driver details. License numbers and dates of birth.
- Vehicle VINs. And annual mileage.
- Payment records. Proof of premiums paid.
- Open claim information. Claim numbers and adjuster contacts, if any.
Loop auto insurance FAQs
Is Loop still selling car insurance?
Loop entered an assignment for the benefit of creditors in December 2025, and its systems were reported offline. Check with the issuing insurer and the Texas Department of Insurance for current status.
Is my Loop policy still valid?
Contact the insurance company named on your declarations page; it issued the policy and can confirm its status.
Who pays my claim?
The issuing insurer is generally responsible for claims under its policies.
What is an ABC?
An assignment for the benefit of creditors, a liquidation process in which an assignee sells a company's assets for creditors.
Where was Loop available?
Loop sold car insurance in Texas.
What is Texas's minimum car insurance?
30/60/25 liability.
How do I contact the Texas Department of Insurance?
Use the department's website or consumer help line to ask questions or file a complaint.
Can Blake Insurance Group take over my Loop policy?
No. We are not affiliated with Loop, but we can quote replacement coverage from companies available to us.
Will I get a refund of unearned premium?
Ask the issuing insurer. Refunds of unearned premium are handled by the insurer and depend on how and when the policy ends.
Should I cancel my Loop policy now?
Confirm status with the issuing insurer first, then start replacement coverage before ending the old policy.
Can agents who sold Loop policies help?
They may be able to point you to the issuing insurer. For replacement coverage, any licensed agent can quote options available to them.
Does Texas have a guaranty fund?
Texas has a guaranty association that may pay covered claims if a licensed insurer becomes insolvent, up to limits. An agency's liquidation is different; contact the issuing insurer.
Related guides
Important information
Independent agency. Blake Insurance Group LLC is an independent insurance agency. Licensed insurance producer NPN 16944666. Licensed states: AZ, AL, TX, CA, NY, OH, FL, NC, VA, GA, OK, NM, IA, KS, MI, NE, SC, SD, WV, IL, NJ, PA, TN, and WA. Which insurance companies we can quote depends on our current appointments, the product, and your state. Mentioning a company on this page does not mean we represent it.
Independent review. This review is based on public information available as of October 2026 and our own analysis. Blake Insurance Group is not affiliated with the company reviewed, and this page is not an endorsement or a statement that we represent it. Company names are trademarks of their owners and are used for identification only.
Status reporting. Information about Loop's status comes from Coverager (January and December 2025) and The Insurer (December 2025) and may have changed.
Availability. Coverage, prices, discounts, and eligibility vary by insurer, state, and applicant, and are subject to underwriting. The issued policy controls.
Your next step
If you need replacement coverage, request a quote and a licensed agent will compare options available to us.
