Merchants Insurance Group at a Glance
- Founded in 1918
- Offers a variety of coverages
- Offers coverage for individuals and businesses
- Coverage available in 8 states
- “A-” (excellent) rating by A.M. Best
- “A+” (excellent) rating by Better Business Bureau (BBB)
- Large network of independent insurance agents
- Good customer feedback
- Strong financial stability
- Online claims reporting
Merchants Insurance Group Pros: Long-standing carrier with over a century’s worth of experience in the insurance industry. Online claims reporting and mobile app available. Offers many types of coverage for businesses and individuals, including personal and commercial umbrella coverage, homeowners insurance, golf insurance, and more. High ratings through both A.M. Best and the BBB. Strong financial stability. Good customer feedback.
Merchants Insurance Group Cons: Not a BBB accredited business. Coverage not available nationwide. Claims process not detailed on official website.
What Type of Insurance Does Merchants Insurance Group Offer?
Merchants Insurance Group offers a variety of insurance choices for individuals and businesses. Their products include:
- Business auto insurance
- Building owners insurance
- Golf insurance
- Contractors insurance
- Offices insurance
- Restaurant/food service insurance
- Service/retail/wholesale business insurance
- Workers’ compensation insurance
- Commercial umbrella insurance
- Personal auto insurance
- Homeowners insurance
- Personal umbrella insurance
This list of insurance products offered by Merchants Insurance Group is not exhaustive. Your independent insurance agent can help you explore even more coverage options through the carrier.
What to Know about Merchants Insurance Group
Merchants Insurance Group was founded in 1918, giving the carrier more than a century’s worth of experience in the insurance industry. Merchants Insurance Group is made up of three companies, Merchants Preferred Insurance Company, Merchants Mutual Insurance Company, and Merchants National Insurance Company. The carrier currently offers coverage in eight states, including Vermont, Pennsylvania, Ohio, New York, New Jersey, New Hampshire, Michigan, and Massachusetts.
Merchants Insurance Group has expanded their insurance products catalogue to cater to individuals and businesses, offering commercial auto insurance, personal umbrella coverage, retail business coverage, homeowners insurance, and much more. The insurance company works exclusively with a network of more than 1,000 independent insurance agents to sell their products. Independent insurance agents provide a more personalized and complete experience for insurance customers of all kinds.
Thanks to its extremely long-standing history, wide network of independent insurance agents, and variety of insurance products offered, Merchants Insurance Group has earned itself a reputation as a financially stable insurance company that’s projected to be around for many more years to come. A.M. Best, the leading global credit rating agency monitoring the insurance industry, gives Merchants Insurance Group an “A-” rating, indicating the carrier is an excellent choice for insurance customers. High ratings from A.M. Best assure customers that Merchants Insurance Group is capable of offering guaranteed, secure coverage from a trustworthy and reputable carrier.
Established in 1899, A.M. Best is one of the oldest rating companies in the world. Reviews from A.M. 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, A.M. 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 also who will remain a strong, financially sound company in the long term.
What Discounts Does Merchants Insurance Group Offer?
Merchants Insurance Group offers a handful of competitive discounts for its customers on their auto insurance. Their discounts include:
- Good student discount: This is offered to auto insurance with students on their policy that maintain a good grade average, typically “B” or higher.
- Paid-in-full discount: This is offered to auto insurance customers who pay their entire year’s premium up front, rather than in monthly increments.
- Bundling discount: This is offered to auto insurance customers who purchase multiple types of coverage through Merchants Insurance Group, such as auto insurance and homeowners insurance.
- Multi-car discount: This is offered to auto insurance customers who insure more than one vehicle through Merchants Insurance Group.
Your independent insurance agent can help you find even more information about discounts offered by Merchants Insurance Group and other ways to save money through the insurance company, helping you to find the coverage you need at the rate you deserve.
Merchants Insurance Group Customer Service
Merchants Insurance Group allows customers to report claims online at any time. The carrier also provides the following customer service options:
- Online claims reporting
- Phone claims reporting
- Email contact option
- Mobile app available
- Customer service and claims reporting hotlines have the following hours restrictions:
|Monday-Thursday||8 am - 5 pm|
|Friday||8 am - 4 pm|
The best way to ensure a smooth customer service experience is to work with an independent insurance agent. Independent insurance agents can help handle claims and other concerns for you, so you can relax and enjoy your coverage.
Merchants Insurance Group FAQ
What is Merchants Insurance Group's average claim response time frame?
Merchants Insurance Group allows customers to file claims at any time through their website or mobile app, but does not list a specific claims response time frame promise on their official website.
What is Merchants Insurance Group's customer service availability?
Merchants Insurance Group allows customers to file claims at any time online, through email, or via the mobile app. Their hotlines for customer service inquiries and phone claims reporting have restricted hours, Monday through Friday. Customers can pay their bills through the official website as well. The carrier also has a social media presence on Facebook, Twitter, and LinkedIn, which makes them more accessible to customers.
What is Merchants Insurance Group's claims process?
Merchants Insurance Group allows its customers to file claims anytime through multiple mediums. However, they do not provide information about their specific claims process. To check on the status of a claim after filing or to ask questions about the claims process, customers can get in touch with their independent insurance agent, call the carrier, or log into their online account.
Does Merchants Insurance Group create a user-friendly experience for customers?
Merchants Insurance Group’s official website is intuitive and easy to navigate. Important information can easily be located by customers, however, the carrier does not provide details about their claims process or claims response timeframe. Not providing this information could be a deterrent for some prospective customers. The insurance company does provide many modern services for their customers online, such as bill pay, finding an agent, filing claims, and more. Overall, Merchants Insurance Group does provide a user-friendly experience for its customers.
Does Merchants Insurance Group have good business insurance?
Merchants Insurance Group offers many insurance solutions for individuals and businesses. Their service/retail/wholesale business insurance package provides the following coverages:
- Building and business personal property coverage
- Equipment breakdown coverage
- Business income and extra expense coverage
- Identity recovery coverage
- Business liability coverage
- Money and securities coverage
- Money orders and counterfeit money coverage
- Computer coverage
- Outdoor signs coverage
- Valuable papers and records coverage
- Employee dishonesty coverage
- Employment practices liability coverage
- Cyber liability coverage (add-on)
Merchants Insurance Group provides quite a comprehensive package for several types of businesses. Your independent insurance agent can help you find out more about Merchants Insurance Group’s business insurance policies, as well as their many other products offered.
Is Merchants Insurance Group a good insurance company?
Merchants Insurance Group has many years of experience under its belt today, and its ratings reflect that. The carrier has been highly rated by both A.M. Best and the BBB. The carrier offers a wide variety of coverages and provides comprehensive packages for commercial customers. Many customers seem satisfied with their coverage, as well. All together, Merchants Insurance Group can be considered a good insurance company.
Merchants Insurance Group Customer Reviews
|“I have filed an auto claim (a couple of times). The claim was handled quickly and very well. Customer service is very good in that when I wanted to change my method of payment they were right on it.”|
|“I have been using Merchants Insurance Group for many years. Their premiums are fairly reasonable and any time that I required assistance they were very helpful. We had placed a claim one time because of a flood in our home. They sent a cleanup crew immediately, followed by an adjuster. Their offer for settlement was very fair and we were able to repair our basement with the funds provided. We also receive a discount on our policy because we have our homeowners insurance and automobile insurance with them. Overall, I am very happy with our insurance company.”|
|“My insurance was very affordable. When my husband wrecked the car they were there taking pictures that same day. They covered the car fast and we were very satisfied.”|
|“I have had no problems with merchant insurance company, they have been extremely helpful I have full coverage and I get the automated discount for getting it taken out of my account and if I am having a bad month with money they always help work it out.”|
|“Merchants is an OK insurance company — have had few problems but [they're] not expensive. I would renew because they do have competitive rates.”|
TrustedChoice.com's Final Review
We award Merchants Insurance Group a final rating of 4.5 out of 5 stars. The insurance company has been around for over a century now, giving them ample time to hone their craft in the industry. The carrier has received high ratings through both A.M. Best and the BBB, which is very respectable. Merchants Insurance Group offers a wide selection of insurance products for commercial and individual customers. We’re also big fans of the fact that the carrier works exclusively with a network of independent insurance agents. However, coverage is only offered in eight states currently, but the carrier’s insurance packages do meet the needs of customers in these areas in a comprehensive manner. The insurance company loses a couple of points for not listing their claims process or claims response time frame promise on their official website. Providing online bill pay, online claims reporting, and a mobile app are all great features, though. All in all, we say that if you’re in need of any of their products, don’t hesitate to look into Merchants Insurance Group with your independent insurance agent as a choice for your next trusted insurance company.
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