Pinnacol Assurance Insurance Company Review

Pinnacol Assurance Insurance Company at a Glance

  • Founded in 1915
  • Specializes in workers’ compensation
  • Also offers loss prevention and risk management services
  • Coverage available in Colorado only
  • “A-” (excellent) rating by A.M. Best
  • “A+” (excellent) rating by Better Business Bureau (BBB)
  • Network of independent insurance agents
  • Online claims reporting
  • Several discounts available

Pinnacol pros: More than a century’s worth of experience in the insurance industry. Several discounts available. High ratings through A.M. Best and the BBB. Currently offers coverage to more than 50,000 businesses. Works with independent insurance agents.

Pinnacol cons: Coverage only available in one state. Highly limited coverage selection.

What Type of Insurance Does Pinnacol Offer?

Pinnacol is a specialized insurance company, meaning they focus on providing one type of quality coverage. The carrier offers the following coverage to thousands of businesses.

  • Workers' compensation insurance

Your independent insurance agent can help you decide if Pinnacol’s workers’ comp coverage is right for your business.

What to Know about Pinnacol Assurance

Pinnacol Assurance was founded in 1915, giving the carrier more than a century’s worth of experience in the insurance industry. The insurance company specializes in offering workers’ comp coverage for businesses in Colorado. Pinnacol also offers loss prevention and risk management services. The carrier is headquartered in Denver, CO.

Today, Pinnacol has more than 57,000 commercial policyholders. There are more than 650 employees found on the carrier’s LinkedIn network. In terms of financial size, A.M. Best places the carrier in the $1.25-1.50 billion category. In 2020, the insurance company awarded $70 million in dividends to its policyholders.

Thanks to its long-standing history and amount of insurance in force, Pinnacol has become known as a financially sound insurance company with a strong outlook for the future. A.M. Best, the leading global credit rating agency monitoring the insurance industry, gives Pinnacol an “A-” rating, indicating the carrier is an excellent choice for insurance customers. High ratings from A.M. Best assure customers that Pinnacol is capable of offering guaranteed, secure coverage from a trustworthy and reputable insurance 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 insurance company in the long term.

What Discounts Does Pinnacol Offer?

Pinnacol offers several discounts on their coverage, including the following.

  • Premium size discount: Customers with premiums over $10,000 are eligible to receive a percentage discount based on how much they pay. 
  • Cost containment discount: Customers who have safety programs in place at their business and are certified through the Colorado Workers’ Compensation Cost Containment Program are eligible for premium discounts. 
  • Designated provider discount: Customers who have designated medical providers for their employees are eligible to receive a discount.
  • Pinnacol performance discount: Customers who make efforts to manage risks are eligible for a discount.
  • Safety group discount: Customers who utilize Pinnacol’s safety group program are eligible for a discount.

An independent insurance agent can help you find more information about further discounts and additional ways to save with Pinnacol, as well as provide you with quotes and help answer any other questions you may have.

Pinnacol Customer Service

Pinnacol allows their customers to file claims online at any time. The carrier provides the following customer service options.

  • Online claims reporting
  • Email contact option
  • Online bill pay
  • Snail mail contact option
  • Fax contact option
  • General contact form on website
  • Customer service department has the following hours restrictions


Hours (MST)


Monday-Friday8 am - 5 pm

The best way to handle your customer service needs is to work with an independent insurance agent. Independent insurance agents help make customer service easier for you by handling claims and other concerns.

Pinnacol FAQ

What is Pinnacol's average claim response time frame?

Pinnacol allows customers to file claims at any time online. The carrier’s official website does not state a claims response time frame for the initial follow up, but does promise to let customers know a final decision within 20 days.

What is Pinnacol's customer service availability?

Pinnacol provides online claims reporting for its customers. The customer service department is available at restricted hours on weekdays. The carrier also has a comprehensive social media presence on Facebook, Twitter, Instagram, and LinkedIn, making them even more accessible to customers.

What is Pinnacol's claims process?

Pinnacol allows customers to file claims through a couple of different mediums. The carrier’s official website details the process for severe injury claims as follows.

“When a more severe injury occurs, we go through a comprehensive, personalized process that includes

  • Sending you a First Report of Injury form
  • Letting you know within 20 days if the injury is covered under your workers' compensation policy
  • Filing an admission (injury is covered) or denial (injury is not covered) with the Division of Workers' Compensation (DOWC)
  • If the injury is covered, calculating lost time benefits and determining if lost wages are due

Through each step of the process, we strive to provide the most compassionate care possible — every injury, every time.”

If customers want to check the status of a claim, they can contact their independent insurance agent, log into their online account, or call the carrier.

Does Pinnacol create a user-friendly experience for customers?

Pinnacol’s website is laid out intuitively. Customers can locate important information quickly and easily. The carrier provides plenty of details for customers such as a broken down claims process. The insurance company offers several modern customer service options such as online claims reporting and bill pay, request a quote, and find an independent insurance agent features. Pinnacol also has a strong presence on social media, overall making for a highly user-friendly experience.

Does Pinnacol have good workers’ comp insurance?

Pinnacol focuses its efforts on quality workers’ comp coverage. The carrier currently equips more than 50,000 businesses of all kinds in Colorado with their insurance, and offers it to the following types of customers.

  • Full or part-time employees
  • Sole proprietors and business partners
  • Independent contractors
  • Corporate officers

Your independent insurance agent can help you find more information about Pinnacol’s workers’ comp coverage.

Is Pinnacol a good insurance company?

Pinnacol has been around more than a century now and is highly rated by A.M. Best and the BBB. Pinnacol provides coverage for many kinds of business customers and offers several discounts. The carrier also provides an excellent user-friendly experience for its customers and works with independent insurance agents. Overall, Pinnacol can indeed be considered a good insurance company.

Pinnacol Customer Reviews

Google
“I truly enjoy the level of customer service Pinnacol Assurance brings. They are incredibly prompt and they are professional in everything they do. I also love that they provide quality training programs for their customers.”
Google
“I have had only the best customer service experiences with Pinnacol Assurance! Every time I call, an actual person answers to help with my issue or question. Email responses are usually the same day. Claims are handled promptly and professionally no matter the circumstances. I highly recommend this company for your workers comp needs!”
Google
“We have had Pinnacol Assurance for several years and have been extremely happy with them. They have always been very professional and helpful.”
Google
“We have worked with Pinnacol Assurance for many years ... (more than) 20 years as matter fact. We have felt very confident that our insurance is in excellent hands. The employees are all on board to make our experience the best and least expensive possible! Thank you everyone at Pinnacol!”
Google
“Pinnacol really "stepped up to the plate" when dealing with an alleged employee injury. I worked closely with a claims representative who kept us informed in regard to this case in a very timely manner. They sent investigators to our business to review the case. They did more than our local Sheriff's Department. They truly care about your business!”

TrustedChoice.com's Final Review

We award Pinnacol Assurance a final rating of 4.5 out of 5 stars. Pinnacol has been in the insurance industry for more than a century now and is highly rated by A.M. Best and the BBB. While coverage is only available in Colorado, more than 50,000 businesses trust Pinnacol with their insurance needs. The insurance company allows customers to file claims through a few different mediums, including online at any time. The official website offers modern services such as request a quote and match with an agent. The carrier also works with a network of independent insurance agents to provide its customers with the best overall experience possible, which we’re huge fans of. Several discounts are available on Pinnacol’s coverage, too. Overall, if you’re a business customer in the state of Colorado, we highly recommend looking into Pinnacol Assurance with your independent insurance agent to be your trusted carrier.

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