Philadelphia Insurance Companies Review

Philadelphia Insurance Companies at a Glance

  • Philadelphia Insurance Companies (PHLY) designs, markets, and underwrites property and casualty insurance products for niche markets, with value-added coverages and services
  • After operating as the Maguire Agency since 1962, the Company began operating as Philadelphia Insurance Companies in 1987
  • After going public in 1993, PHLY would eventually grow to offer coverage in over 80 niche business markets and employ 1,600 people in 50 offices across the country
  • PHLY approaches the market through multiple distribution channels: preferred producers, select producers, independent insurance producers, wholesalers, and the internet
  • Rated A++ (superior) by AM Best
  • BBB accredited

Philadelphia Insurance Companies Pros: The company is BBB accredited and rated A++ (superior) by AM Best. Operating for more than 50 years. Offers coverage in over 120 niche business markets. Offers a broad range of risk management services, as well. Products are available in all 50 states. 24/7 claims reporting for catastrophic losses.

Philadelphia Insurance Companies Cons: Not all products are available in all states. Limited personal lines offerings. Claims reporting instructions are somewhat confusing, as are customer service instructions. Negative customer service reviews can be easily found.

What Type of Insurance Does PHLY Offer?

Philadelphia offers a variety of commercial insurance policies for niche markets. The company’s products includes the following.

  • Commercial auto insurance
  • Small business insurance
  • Education
  • Entertainment and recreation
  • Non-profits and human services
  • Management liability
  • Professional liability
  • Business owners polity
  • 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. 

What to Know about Philadelphia Insurance Companies

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 which 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 and employs 1,600 people in 50 offices across the country. 

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. It specializes in over 120 niche markets and has gross written premiums of $3.7 billion. 

Philadelphia Insurance Companies is rated A++ (superior) by AM Best and is a BBB accredited company. AM Best is a credit rating firm that assesses the creditworthiness of and/or reports on over 16,000 insurance companies worldwide. The AM Best rating points to the insurance company’s ability to pay claims, debts, and other financial obligations in a timely manner. Customers can expect that the carrier has the necessary cash reserves to pay out claims, an essential factor in evaluating any insurance company before purchasing a policy. 

What Discounts Does PHLY 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
  • Customer service department has the following hour restrictions


Hours (CST)


Monday-Friday8:30 am - 8:00 pm

You can also get help by contacting a local Principal Financial Group financial advisor.

Philadelphia Insurance Companies FAQ

What is Philadelphia’s average claim response time frame?

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.

What is Philadelphia’s customer service availability?

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.

What is Principal’s claims process?

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.

Does Philadelphia create a user-friendly experience for customers?

Philadelphia’s official 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.

Does Philadelphia have good commercial auto insurance?

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 Franchised Motorcycle Dealerships
  • Interim Liability & Physical Damage
  • Lessors Contingent/Excess Liability
  • Lessors Contingent Physical Damage
  • Rental Package School Bus Contractors

This list of insurance products offered by Philadelphia Insurance Companies is not exhaustive. Your independent insurance agent can help you decide if the company has the type of coverage to best suit your needs.

Is Philadelphia a good insurance company?

Philadelphia has been operating since 1962, and in its current form since 1987, giving 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. Overall, however, Philadelphia can be considered a good insurance company.

PHYLY Customer Reviews

Clearsurance
“Super easy to work with and reasonable rates. I have used this company for 3 years and very pleased with their service.”


Birdeye
“I would give PHLY ZERO stars if I could. They have been a complete disaster for my business E&O insurance. They cancelled my policy without ANY notification. They do not communicate via email or regular mail if a premium is due. Customer service a joke, and I will never use this company again.”


Yelp
“Philadelphia Insurance Companies offer a variety of products from commercial links packages, to management and professional liability, to flood coverage, to loss control, to educators, to special events, to commercial auto, to surety bonds to name a few. For too many years to mention, I have purchased their highly affordable Fitness and Wellness product that covers my exercise clients, speaking events, as well as the facilities where I provide activities and services. In the beginning, acquiring and maintaining a policy was by phone and/or snail mail. Technological advances have made online renewing, viewing, and downloading documents or obtaining additional certificates of insurance a snap.”


Yelp
“We have had this for years with no issues. Have been trying to cancel since October with emails, letters, phone calls and they continue to assure me it is taken care of and I continue to get bills. I have spent hours trying to cancel a simple policy.”


Yelp
“The worst customer service and follow through. It's taken me hours to get a simple fitness liability policy.”


TrustedChoice.com's Final Review

We award Philadelphia Insurance Companies a final rating of 4.0 out of 5 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 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.

What’s more, you can use our national company directory to find the best insurance companies to meet your needs. The directory can help you find companies that specialize in your specific coverage needs and get connected to an agent near you. 

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