Philadelphia Insurance Companies Review
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She covers topics ranging from car insurance to healthcare costs.
Reviewed by
Cara Carlone is a licensed P&C agent with 20 years of experience. She has her P&C license in RI and TX and holds CPCU, API, and AINS designations.
Philadelphia Insurance Companies Final Score
3 Stars
The Maguire Insurance Agency was formed in 1962 and began offering specialized insurance solutions to the automobile industry. In 1969, the Maguire Insurance Agency landed its first nationwide account with Chevrolet dealers.
The company began operating as Philadelphia Insurance Companies in 1987 and two years later started offering insurance to nonprofit social service agencies and health and fitness clubs, two niches that remain at the core of its business today. After going public in 1993, the carrier grew to offering coverage in over 120 niche business markets.
The carrier designs, markets, and underwrites property and casualty insurance products for niche markets, with value-added coverage and services. Philadelphia Insurance Companies sells car insurance in 50 states and Washington, D.C. Not all products are available in every state, however. The company’s products are marketed by preferred producers, select producers, independent insurance producers, wholesalers, and online.
Philadelphia Insurance Companies is rated "A++" (superior) by AM Best and is a Better Business Bureau (BBB)-accredited company.
We award Philadelphia Insurance Companies a final rating of three out of five stars. It is based outside of Philadelphia and offers its products in all 50 states. It has been in business for over 50 years. Its high ratings from AM Best and the BBB speak to its unquestionable financial strength, one of the most important factors in choosing an insurance company.
The carrier provides a variety of commercial insurance options for specialty risks and niche industries. It offers extended customer service hours and claims reporting, and promises prompt response after claims are initiated.
Philadelphia’s products are marketed in a variety of ways, including through independent insurance agents. Customers report both positive and negative experiences with the carrier. If you have a specialty risk or a hard-to-place home or business, we recommend finding out more about Philadelphia Insurance Companies by working with your independent insurance agent.
Key Takeaways
- Philadelphia Insurance Companies (PHLY) designs, markets, and underwrites property and casualty insurance products for niche markets, with value-added coverages and services.
- PHLY approaches the market through multiple distribution channels: preferred producers, select producers, independent insurance producers, wholesalers, and the internet.
- Philadelphia Insurance Companies is rated A++ (superior) by AM Best, and is accredited by the BBB.
- Philadelphia Insurance Companies promises a prompt claims response. Claims for most products can be initiated online, and there is also a MyPHLY customer portal, along with the after hours Catastrophe Call Center for reporting catastrophic losses 24/7.
Philadelphia Insurance Companies Pros and Cons:
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Philadelphia Insurance Companies Products
Philadelphia offers a variety of commercial insurance policies for niche markets. The company’s products include the following:
- Commercial auto insurance
- Small business insurance
- Management liability
- Professional liability
- Business owners policy
- Surety bonds
- Excess and surplus lines
The company also offers antique and collector car insurance for individuals. This list of insurance products is not exhaustive.
Your independent insurance agent can help you decide if Philadelphia Insurance Companies has the type of coverage to best meet your needs. You can also find a carrier by talking to a local independent insurance agent or using our insurance company directory.
What Discounts Does Philadelphia Insurance Companies Offer?
The carrier does not make information about its specific discounts or reward programs readily available.
An independent insurance agent can help you learn more about discounts and savings opportunities offered by Philadelphia Insurance Companies.
Philadelphia Insurance Companies Customer Service
Customers can contact Philadelphia Insurance Companies in the following ways:
- To report a claim, check the status of a claim, and get general claims services, contact the Claims Service Center Monday-Friday 8:30 am-8:00 pm EST
- The Catastrophe Call Center is operational 24/7 to service customers reporting a catastrophic loss after 8:00 pm EST, Monday-Friday
- General customer service by phone Monday-Friday 8:30 am-8:00 pm EST
- To make changes to your policy or ask coverage questions, please contact your insurance agent
- Email via online Contact Us form
- Fax contact option
- The customer service department has the following hour restrictions:
| Days | Hours (CST) | ||
| Monday-Friday | 8:30 am-8:00 pm |
You can also get help by contacting your independent insurance agent.
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Philadelphia Insurance Companies FAQs
The claims customer service department will immediately process the first notice of loss report. Customers will receive verbal confirmation that the notice has been received and will be contacted by a service representative within one business day.
Philadelphia offers customer service by phone Monday through Friday, 8:30 am to 8:00 pm EST. Customers can also reach the insurance company by email and fax. Claims can be initiated online or by phone, depending on the product.
Auto, general liability, professional liability, and property claims can be initiated online. Claims for other types of policies can be initiated by phone.
Online claims are sent electronically to the appropriate claims department personnel, who will contact the customers within 24 hours. When a loss is reported, the company immediately assigns a file number for future reference.
If notification is not verbally reported, you will be contacted within 24 hours to confirm receipt of the notice, the file number, and the name of your claims representative. Your claims representative will contact you within one business day.
Yes, Philadelphia Insurance Companies offers a user-friendly experience for customers.
The carrier's public website offers a lot of information. Claims for most products can be initiated online, and there is also a MyPHLY customer portal. Customer service by phone is available 8:30 am to 8:00 pm EST, along with the after-hours Catastrophe Call Center for reporting catastrophic losses 24/7.
Customers can also email the company. Philadelphia promises a 24-hour response after a claim has been initiated.
Philadelphia Insurance Companies offers commercial auto insurance for the auto and truck rental and leasing industry. Some of its coverage options and specialties include the following:
- Auto daily rental
- Chauffeured transportation
- Interim liability and physical damage
- Lessors contingent/excess liability
- Lessors contingent physical damage
- Rental package school bus contractors
This list of coverage is not exhaustive. Your independent insurance agent can help you decide if the company has the type of commercial auto insurance coverage to best suit your needs.
Overall, Philadelphia Insurance Companies can be considered a good insurance company.
The carrier has been operating since 1962, and in its current form since 1987, giving it a long history in providing niche commercial insurance solutions. It has received high ratings from AM Best and the BBB, and is licensed and operates in all 50 states and Washington, D.C. There are not a lot of customer reviews to be found, but those that exist are both positive and negative.
https://www.phly.com/Home/Index.aspx
https://www.bbb.org/us/pa/bala-cynwyd/profile/insurance-services-office/philadelphia-insurance-companies-0241-80018388