Accident Fund Insurance Company Review

Accident Fund Insurance at a Glance

  • Founded in 1912
  • Workers’ compensation coverage only
  • Offers coverage to small and midsized businesses
  • Coverage offered nationwide
  •  “A” (excellent) rating by AM Best
  • Network of independent insurance agents
  • Strong financial stability
  • 24/7 online claims reporting

Accident Fund Pros: This is a well-established company with more than a century’s worth of experience in the insurance business. Coverage is offered in all 50 states. It is one of the nation’s leading workers’ compensation organizations and offers online claims reporting. It works with a large network of independent insurance agents and offers independent agent matching through official website.

Accident Fund Cons: Only one type of coverage is offered. It is not rated or accredited by the Better Business Bureau and is difficult to find customer reviews of the carrier.

What Type of Insurance Does Accident Fund Offer?

Accident Fund is a specialty insurance carrier, meaning they only offer one type of coverage. The carrier currently focuses their efforts on providing workers’ compensation insurance to small and midsized businesses across the country.

  • Workers' compensation

If you own a small or midsized business, and are in the market for workers’ compensation coverage for your team of hard-working employees, Accident Fund may be the right carrier for your needs.

What to Know about Accident Fund

Accident Fund was founded in 1912, making it a well-established insurance carrier with more than a century’s worth of experience in offering quality insurance policies and service to small and midsized businesses.

According to the official website, Accident Fund offers insurance through a network of more than 2,500 independent agencies across the country and has a team of more than 1,200 workers. The carrier offers coverage in all 50 states and the District of Columbia and partners with independent agencies in 23 core states. Accident Fund turns $1.4 billion in premiums annually and currently has served more than 80,000 clients.

Accident Fund’s history, size, and amount of in-force insurance aids the carrier’s reputation as a financially stable insurance provider with a strong outlook for the future. AM Best, the leading global credit rating agency monitoring the insurance industry, gives Accident Fund an “A” rating, indicating the carrier is an excellent choice for insurance customers. The “A” rating assures customers that Accident Fund is capable of offering guaranteed, secure coverage from a trustworthy and reputable carrier.

Established in 1899, AM Best is one of the oldest rating companies in the world. Reviews from AM Best indicate an insurance company’s financial strength and creditworthiness, and are based on comprehensive evaluations of the company’s operating performance, business profile, and balance sheet. For customers who aren’t as familiar with insurance companies’ respective reputations, AM Best’s ratings system allows them to make informed decisions about who they can trust to meet their needs in the short term, and also who is a strong, financially sound company in the long term.

What Discounts Does Accident Fund Offer?

Accident Fund only readily provides specific information about its group program in the way of discounts. However, there are several discounts and ways to save money on premiums that are commonly offered to customers who purchase workers' compensation  insurance:

  • Accident Fund Group Program: Customers who belong to this program enjoy up-front savings on their premiums. 
  • Formal safety plan discounts: This is offered to workers’ compensation customers when the employer has established a formal safety plan to protect their employees on the jobsite.
  • Safety equipment discounts: This is offered to workers’ compensation customers when the employer requires the use of safety equipment by their workers when performing potentially hazardous tasks.
  • Hygiene procedures discounts: This is offered to workers’ compensation customers when the employer has enforced adequate hygiene procedures in the workplace to help protect their team.
  • Safe materials discounts: This is offered to workers’ compensation customers when the employer ensures that team members only work with safe materials that do not put them at risk.

An independent insurance agent can help you find out for certain which specific discounts are available through Accident Fund, in order to help you get the most bang for your buck out of your coverage.

Accident Fund Customer Service

Accident Fund allows customers to handle customer service issues or file claims over the phone or online. Their contact options include:

  • 24/7 claims reporting via the website
  • Claims can also be reported via mail or fax
  • Email contacts available for inquiries about policies and billing
  • Main for customer service inquiries has the following hours restrictions:

Hours (EST)

Monday-Friday8:00 am - 5:45 pm

Saturday8:00 am - 5:45 pm

Sunday8:00 am - 5:45 pm

Accident Fund sells insurance primarily through independent insurance agents. Independent insurance agents are also available to handle claims and insurance concerns for you, making customer service even easier.

Accident Fund FAQ

What is Accident Fund's average claim response time frame?

Accident Fund’s claims reporting hotline is available for customers in need via a toll-free phone number. Customers can also submit claims and file appropriate reports online through the website, or via email, mail, or fax. While the carrier unfortunately does not provide an official claims response time frame on their website, they encourage all of their customers to report any incidents within 24 hours.

Accident Fund’s official website says claims will be evaluated based on the following criteria:

“Compensability will be based on the investigation and fact pattern of each claim, including:

  1. The individual facts and merits of the actual claim (non-hypothetical)
  2. The individual workers’ compensation statutes and case law of the specific state
  3. Any further direction from a political entity.”

Customers can also update existing claims at any time via the carrier’s website.

What is Accident Fund's customer service availability?

Accident Fund offers a toll-free phone line for prospective and current customers to get in touch with them and also provides tools on their official website, as well as several email addresses to address specific concerns, such as claims or billing. Their customer service hotline has some hours restrictions, but is available all seven days of the week. The carrier does not provide a 24/7 claims reporting hotline or an after-hours hotline.

What is Accident Fund's claims process?

Accident Fund encourages claims reporting through their “First Notice of Loss tool” on their official website. They also provide options to file claims via email, fax, or phone. The carrier urges customers to report all claims within 24 hours of an incident to ensure the fastest turnaround time for claims reviews and settlement. Most all the information available on Accident Fund’s website about their claims process only details how to use to First Notice of Loss tool and stresses the importance of early reporting.

The official website states the following:

“Reporting a claim to Accident Fund in 24 hours or less means better overall care for your employee, allows case managers to construct a transition-to-work plan, and cuts down on cost and stress for the employee and the business. And our experts work to ensure your injured worker gets the best possible care at the lowest possible cost to you.”

Does Accident Fund create a user-friendly experience for customers?

Accident Fund’s website is fairly intuitive and easy to navigate, however certain pertinent information seems to be missing. There isn’t much detail in regard to the carrier’s claims process or any official claims response time frame promise. However, the carrier does have a social media presence on both Facebook and Twitter, which makes them more accessible to customers.

Accident Fund Customer Reviews

"Terrible company. Their own employees refer to them as the cluster fund due to how poorly managed they are."

“Great place to work. Good people, good leadership, good work environment. Professional and courteous with a good work / life balance. Company is moving in the right direction from an IT perspective.”

“Great corporate culture and exceptional corporate setting. My biggest career mistake was leaving the AF for a variety of reasons e.g., missed future opportunities, good leadership, family-friendly atmosphere, etc.
Pros:  I would work for them again
Cons:  I can't think of one; wished I had never left.”

“Pros:  Great benefits, part of great team, very diverse work force.
Cons: Significant technology debt that they are trying to migrate from.”

“I worked at Accident Fund full-time.
Pros:  A very friendly work place.
Cons:  No downsides from my perspective.”'s Final Review

We award Accident Fund a final rating of 3 out of 5 stars. The carrier’s long-standing history and financial stability are certainly respectable in terms of offering quality, trustworthy coverage. However, Accident Fund’s website is sorely lacking in important information regarding details like claims processes and any official claims response time frame. Further, Accident Fund does not provide 24/7 claims reporting via phone or an after-hours hotline for either claims or customer service inquiries. It’s also disturbing that across the web we were only able to locate one dismal customer review for the carrier, on Yelp. Accident Fund is also not accredited or rated by the Better Business Bureau, which makes their reputability harder to gauge. That being said, Accident Fund is known as one of the nation’s leading workers’ compensation organizations and coverage is offered in all 50 states. The carrier also works with a large network of independent insurance agents, which makes finding the right coverage much easier for prospective customers.

Share this page on Twitter Share this page on Facebook Share this page on LinkedIn

©2020, Consumer Agent Portal, LLC. All rights reserved.