SFM Insurance Company Review

We've looked at over 1,000 insurance companies, rating them on strength, accessibility, and service to find the best ones. Here's what people think about SFM Insurance.

SFM Insurance Company at a Glance

  • Founded in 1983
  • Specializes in workers' comp
  • Full coverage available in 6 states
  • Coverage for businesses with out-of-state operations available in 34 states
  • Rated "A-" (excellent) by AM Best
  • Rated "A+" (excellent) by the Better Business Bureau (BBB)

SFM Insurance pros: High ratings by AM Best and the BBB. BBB accredited. Strong social media presence. Offers online claims reporting.

SFM Insurance cons: Coverage not available in all states. Only one form of coverage offered. Not much detail provided about coverage, discounts, or claims processing.

To find insurance in your state, use our national insurance company directory to find the best company to meet your needs. You can locate insurance companies that specialize in your specific coverage needs and get connected to an agent near you.

What Type of Insurance Does SFM Insurance Offer?

Here's an overview of the products offered by SFM Insurance.

  • Workers' compensation

Your independent insurance agent can help you find more information about the coverages offered by SFM Insurance, and help you decide if this insurance company is right for you.

What to Know about SFM Insurance

Founded in 1983, SFM Insurance is the largest provider of workers' comp coverage in Minnesota. The carrier offers its coverage in six states. More than 25,000 businesses currently get their workers' comp insurance through SFM.

SFM specializes in coverage for small businesses, but caters to businesses of any size. The carrier was ranked ninth out of all medium-sized employers in the Star Tribune's Top 150 Workplaces in Minnesota list last year. SFM also ranked on this list twice in previous years.

Thanks to their demonstration of solid financial strength over time, SFM has earned itself a reputation as a stable carrier with a strong future outlook. AM Best gives the insurance company an overall “A-” rating, indicating the carrier is an excellent choice for insurance customers.

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 annual report. 

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What Discounts Does SFM Offer?

SFM does not make information about its specific discounts readily available. However, an independent insurance agent can help find these details for you. Independent insurance agents work hard to find you the most affordable coverage that still gets the job done right.

SFM Insurance Customer Service

Here's an overview of SFM Insurance's customer service options and availability. 

  • Phone contact option
  • Fax contact option
  • Email contact option
  • Snail mail contact option
  • Online claims reporting
  • Customer service phone department has the following business hours


Hours (CT)


Monday-Friday 7:30 am - 4 pm


Saturday CLOSED


Sunday CLOSED

To ensure a great customer service experience, work together with an independent insurance agent. Independent insurance agents can help handle claims and other matters for you, so you can relax and enjoy your coverage.

SFM Insurance FAQ

What is SFM's average claim response time frame?

SFM does not make a specific claims response time frame promise.

What is SFM's customer service availability?

SFM operates during regular business hours during the week, and allows customers to contact them via phone, mail, email, or fax. The carrier also allows claims to be filed online.

What is SFM's claims process?

SFM does not provide much information about their claims process beyond how to file. However, an independent insurance agent can simplify claims for you, and keep you updated through every step of the process.

Does SFM Insurance create a user-friendly experience for customers?

SFM has a comprehensive social media presence. Their official website is well laid out and easy to navigate. However, the carrier would benefit from providing more information about their coverage, possible discounts, and claims processing. 

Does SFM have good workers' comp insurance?

SFM does not provide much detail about its coverage without going through an agent. The insurance company prides itself on focusing on solutions for small businesses while offering coverage for businesses of all sizes. An independent insurance agent can help you find much more information about the workers' comp policies offered by SFM.

Is SFM a good insurance company?

SFM is highly rated by AM Best and the BBB. However, they only offer one form of coverage and it's not available in all states. It's also quite difficult to find any customer reviews, which makes it hard to determine if SFM is a good insurance company overall.

TrustedChoice.com's Final Review

We award SFM Insurance a final rating of 2.5 out of 5 stars. The carrier is highly rated by AM Best and the BBB and is the largest workers' comp provider in Minnesota. SFM prides itself on offering quality workers' comp coverage for businesses of all kinds in many different states.

SFM's insurance is not available nationwide. The carrier also does not readily provide much information about its coverage, claims processing, or possible discounts. It's also extremely difficult to find any customer feedback at all.

Overall, we recommend working together with an independent insurance agent to survey several options near you to find the right workers' comp coverage for your business.

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https://www.sfmic.com/

https://ratings.ambest.com/CompanyProfile.aspx?AltSrc=108&Bl=0&GSA=1&AMBNum=1929

https://www.bbb.org/us/mn/bloomington/profile/insurance-companies/sfm-mutual-insurance-company-0704-96093254