AmTrust Insurance Review 2022:  

Best Carrier to Insure Your New Business? | ⭐️⭐️⭐️⭐️

TLTR: This blog explores Amtrust Insurance to help you decide if it’s a good fit for your needs. The pros and drawbacks, coverage, customer service, the claims process, and consumer feedback are all discussed in the article. You should have a solid idea of whether Amtrust Insurance is the best option for you by the end of this blog!

In this blog

Amtrust Insurance Review: About

AmTrust Insurance, a Manhattan-based insurance company, was founded in 1998 to serve small businesses in the United States. They’ve evolved into a market-leading insurance company specializing in small business insurance focusing on workers’ compensation. 

Within two years of its establishment, the company had grown into the European market, serving 70 nations today. One of the carrier’s numerous benefits is the ability to flexible payments and customized coverage. Small to medium enterprises with minimal risk levels are the insurer’s target market. Independent agents offer the company’s products across the country, although the products provided differ by state. 

Amtrust Insurance Review – Pros and Cons

Pros

Cons

  • Offers the best coverage for small businesses
  • Top-of-the-line workers’ compensation.
  • Policies that are flexible and personalized
  • A.M. Best has given the company an A- financial strength rating.
  • Obtaining a quote via the internet is a simple procedure.
  • Unlike many other insurance companies, it is less stable.
  • Poor BBB rating
  • Neither J.D. Power nor the NAIC have included it in their rankings.
  • A newer firm with a less illustrious history.
amtrust insurance review

Image: Amtrust Insurance Statistics

Amtrust Insurance Services 

They have all of the insurance plans that various businesses require:

Workers’ Compensation

Amtrust is best known for its workers’ compensation insurance, it can be purchased individually or in conjunction with a business insurance policy and is customized to match each firm’s unique needs. Amtrust Insurance is also the third-largest workers’ compensation carrier in the United States. As a result, businesses looking for the best workers’ compensation can rely on Amtrust.

Business Owner’s Policy

The affordability, flexibility, and comprehensive coverage of Amtrust’s BOP are reasons for its popularity. When combined with workers’ compensation, they offer competitive premiums and give discounts for clients in specific classes. They provide a 10% discount on BOP coverage to workers’ compensation policyholders.

The AmTrust BOP is a package policy that contains general liability, property coverage, and a variety of extra coverage options to meet the needs of a particular business. Although not all businesses qualify for a BOP, the policy’s flexibility allows it to be adjusted to the wide range of industries.

Auto Service

This package plan is tailored to cater the firms in the automotive service industry. Auto repair shops, dealerships, and body shops fall under this category. This insurance includes liability and equipment coverage and coverage for the specific demands of this market.

Commercial Coverages

AmTrust offers a variety of commercial coverage:

  • AmTrust’s Cyber Liability insurance provides comprehensive financial protection and experienced guidance in navigating a wide range of cyber threats to your company’s data, operations, and reputation.
  • Contractor’s Equipment insurance is offered for a wide range of contractors, including craftsmen, general contractors, and road builders. This policy covers contractors’ tools and equipment.
  • State Disability Insurance is offered in states where employers must provide this coverage.
  • Workplace Policies and Procedures AmTrust’s liability coverage protects you from the dangers of having workers. Wrongful termination litigation, discrimination and other issues fall under this category.
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Third-Party Reviews

A.M. Best Ratings

Amtrust Insurance received an “A-” from A.M. Best, indicating outstanding financial stability. However, AmTrust’s ratings have fallen from “A” to “A-due to economic instability.” Although AmTrust is still regarded as a reliable insurance carrier, keep this in mind if you’re considering buying insurance from them.

Amtrust Insurance Review and Ratings

Customer Reviews 

“Amtrust has been helpful in regards to my insurance. The people are fantastic, and I highly recommend becoming an AmTrust Financial Services policyholder because they have offices worldwide.”  ⭐️⭐️⭐️⭐️ 
“Compared to other insurance firms, they provide excellent service at reasonable pricing.” ⭐️⭐️⭐️ 
“When they roll over changes, they have poor coordination. It took five phone calls to settle the issue and delayed response. However, this is a decent insurance provider in general.” ⭐️⭐️ 

 

Source: Google reviews 

Conclusion

⭐️⭐️⭐️⭐️

As the name implies, AmTrust is an insurance firm that you can trust. Amtrust specializes in offering low-risk coverage and provides a variety of coverage options to suit the needs of any small business and mid-sized businesses.

Furthermore, contacting Amtrust for workers’ compensation coverage will be a simple one-stop shop. Over the few years, they have steadily grown and built a strong reputation, and they offer a good choice of items that will fulfil the requirements.

Moreover, with an “A-” rating from A.M. Best, it is safe to say that your business is in good hands. If you would like more information on AmTrust Insurance, please contact one of our agents.

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Frequently Asked Questions

How does AmTrust handle claims?

Customers have up to 90 days, depending on their state, to report a claim. AmTrust will then start adjusting it and give you access to phone calls or emails so that there is no need to waste time waiting months before getting in touch as most companies do! 

What Does Small Business Insurance from AmTrust Cost?

The cost of AmTrust’s commercial insurance policies can vary depending on your company. These are determined mainly by the following factors: policy limits, endorsements, and deductibles, as well as experience & claims history in the industry, which can cost up to $127 monthly. 

Are the company's ratings and reviews favorable?

According to the Better Business Bureau, fourteen complaints have been lodged against the company in the last three years, with five of them being resolved during the previous 12 months. That is a relatively low complaint volume for a company of this size. 

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Agency height is a platform that bridges the distance between agents and insureds, allowing them to get what they want. Our directory enables insurance agents to join for free and in under 90 seconds, allowing them to interact with their customers right away. We also make sure that potential insureds are aware of their hazards. Our licensed professionals will take you step by step through the insurance application procedure. Visitors can get quick and low-cost quotes to protect their personal belongings or expand their business. 

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