Hiscox Insurance Company Review

Hiscox Insurance Company at a Glance

Hiscox pros: Long-standing carrier with almost 120 years worth of experience in the insurance industry. Highly rated by AM Best and the BBB. Offers several types of coverage including professional liability insurance, cyber security insurance, and workers' comp. Offers claims reporting via phone, online, or by mail. Detailed claims process and claims response time frame on official website. Strong financial stability. Coverage available in 49 states.

Hiscox cons: Not a BBB accredited business. Some mixed customer feedback.

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What Type of Insurance Does Hiscox Offer?

Hiscox is a specialized insurance company, with a focus on small business insurance. Some of the top insurance products they offer include the following.

Your independent insurance agent can help you find more information about the coverage offered by Hiscox, and help you decide if this insurance company is best for you.

What to Know about Hiscox

Hiscox Insurance was founded in 1901, giving the carrier almost 120 years worth of experience in the insurance industry. The insurance company has grown to become a leading specialist insurer in the US. Today, Hiscox still focuses its efforts on providing insurance solutions for small businesses. Coverage is offered in 49 states across the country. The insurance company's LinkedIn profile states that Hiscox has between 1,001 and 5,000 employees, with nearly 2,400 of them found on the social media platform. As far as financial size, AM Best places the carrier in the $2 billion or greater category.

Thanks to its expansive history, financial strength, and far reach, Hiscox has earned a reputation as a stable insurance company with a positive outlook for the future. AM Best, the leading global credit rating agency monitoring the insurance industry, gives Hiscox an “A” rating, indicating the carrier is an excellent choice for insurance customers. High ratings from AM Best assure customers that Hiscox offers guaranteed, dependable coverage from an economically sound 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 are not as familiar with insurance companies’ respective reputations, AM Best’s ratings system allows them to make an informed decision about who they can trust to meet their needs in the short term, and who will remain a strong, financially sound company in the long term.

What Discounts Does Hiscox Offer?

Hiscox offers a few discounts for its customers, including the following.

An independent insurance agent can provide information about even more discounts as well as find premium quotes for coverage through Hiscox. When it comes to coverage, independent insurance agents work hard to help to get you the most bang out of your buck.

Hiscox Customer Service

Hiscox offers several options for its customers to file claims, including online at any time. The carrier also provides the following customer service options.

The best way to guarantee a great customer service experience is to work with an independent insurance agent. Independent insurance agents can assist with handling claims and other matters for you, so you can relax and enjoy your coverage.

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Hiscox FAQ

What is Hiscox's average claim response time frame?

Hiscox offers claims reporting through a couple of mediums, including online or over the phone. Hiscox does provide an official claims response time frame of 10-20 days. Hiscox encourages customers to file claims as soon as possible after an incident to get the fastest response.

What is Hiscox's customer service availability?

Hiscox allows customers to file claims at anytime online, by phone during regular business hours, or by mail. Their customer service department is available at generous hours, Monday-Friday. The carrier’s social media presence extends across Facebook, Twitter, and LinkedIn, which makes them even more available to customers.

What is Hiscox's claims process?

Hiscox offers a couple of options for claims reporting. The carrier outlines their claims process on their official website and as follows.

1. Acknowledge a reported claim within one business day: After you report a claim, Hiscox will email you a reference number and emergency contact details in case your claim requires urgent handling.
2. Representative assigned within two business days: Hiscox assigns a specialized claims professional to your claim and will contact you within two business days to hear about your situation, explain the next steps, and answer questions.
3. Coverage validated within 5-10 business days: A Hiscox claims representative will work with you to understand the basis of your claim and obtain the necessary information to validate coverage.
4. Decision made within 10-20 business days: A Hiscox claims representative will contact you with a decision and the next steps after validating your coverage.

If customers have questions about filing or the claims process itself, they can contact the carrier via phone or get in touch with their independent insurance agent.

Does Hiscox's insurance create a user-friendly experience for customers?

Hiscox’s official website is extremely user-friendly. The carrier provides plenty of information about their claims process and details a claims response time frame clearly for its customers. Hiscox also provides plenty of information about their small business coverage options. Online bill pay is available, as is 24/7 claims reporting via online, which are good, modern customer service features. So, Hiscox insurance company is excellent overall in terms of user-friendliness.

Does Hiscox have good small business insurance?

Hiscox focuses its efforts on providing quality coverage for small businesses. They offer several forms of important protection for their customers, including the following.

• Professional liability insurance
• Cyber security insurance
• Workers' compensation insurance

Hiscox ensures that small businesses are protected from every angle, from potential legal issues to employee injuries. Your independent insurance agent can help provide even more information about Hiscox's small business coverage.

Is Hiscox a good insurance company?

With excellent ratings through AM Best and the BBB, and an extensive history within the insurance industry, Hiscox has certainly demonstrated its commitment to providing customers with quality insurance, as well as great service. Further, the carrier offers online claims reporting, has a strong social media presence, and solid financial strength. Hiscox can indeed be considered a good insurance company.

Hiscox Customer Reviews

Consumer Affairs

“I would highly recommend this insurance company to anyone."

Hiscox's Official Website Reviews Page

“I received an immediate quote and they processed the policy very quickly. I called customer service with a minor issue and they responded promptly and professionally. I highly recommend Hiscox for your small business insurance needs. Thank you for serving your customers with courtesy, value, and a quality product. Couldn't be happier!”

Hiscox's Official Website Reviews Page

“It was such a pain-free, nice consultation with the Hiscox rep. We weren't totally set on what we needed for our small business but the rep. helped clarify things and got us what we needed at a great price. We will certainly recommend Hiscox to anyone that asks and couldn't be more pleased with the outcome. Thank you!”

Hiscox's Official Website Reviews Page

“Hiscox walked me through an awesome customer service experience. Not only did they go over the question of my needs but they also made suggestions on how to improve my experience but it worked out that it saved me money. This is not only customer service I can stand behind, but a company I can trust to do the right thing at all times. I will recommend Hiscox to all who I know will need this type of coverage.”

Hiscox's Official Website Reviews Page

“It's convenient to get a customizable quote online when it fits my schedule. Like that you create tools for users to evaluate options, and that you've thought thru the standard options for a straight-forward request. P.S. From environmental view that all the docs are already PDF saves me handling a mountain of paper.”

TrustedChoice.com's Final Review

We award Hiscox Insurance a final rating of 4.2 out of 5 stars. The insurance company has been around for more than a century and a quarter now, which is certainly respectable within the insurance industry. Hiscox has received very high ratings through AM Best and the BBB. Coverage is offered in 49 states, and their catalog is quite extensive, providing several coverage solutions for small businesses. The insurance company provides online claims reporting, as well as online bill pay and request a quote services. Hiscox provides plenty of information about their coverage on their official website, as well as a specific claims response time frame and an outline of their claims process. Customers have raved about their experience with Hiscox, as is evident from the reviews page on the carrier's official website. So, our recommendation is that if you're on the market for small business insurance, go ahead and take a closer look into Hiscox Insurance with your independent insurance agent to be your next trusted carrier.