Federated Insurance Review 2023

Last Updated: February 26, 2023

TLTR: This review article will help you choose the carrier by analyzing and comparing different factors that might affect your decision-making process in selecting a policy.

Is Federated Insurance a Good Choice? Our Thoughts

With stellar ratings from A.M. Best and the BBB, Federated Insurance has long been respected in the insurance industry. However, their lack of accreditation with the BBB combined with numerous complaints filed against them, may raise questions about trustworthiness for potential customers. In addition to this troubling history, recent years have seen negative publicity surrounding various lawsuits; reviews by existing customers are generally poor as well. It is important that anyone considering taking out an insurance policy consider all these factors before deciding if Federated Insurance will be a reliable company going forward.

 

About Federated

Founded in 1904 as Minnesota Implement Mutual Fire Insurance Company; Federated Insurance has since flourished into a nationally-renowned organization providing top-of-the-line insurance and risk management services. Over time they expanded their initial offerings aimed at implement dealers to include products tailored for other types of businesses. In addition, it holds 523 recommendations from state-, regional- and national associations and buying groups, further evidencing its quality service provisioning capabilities.

In 1948 the company began offering both fire and casualty insurance, adding accident and health insurance policies, and in 1959 opened the life insurance branch. Today, the company operates in 49 states and the District of Columbia, and specializes in business insurance for specific industries. Group health and life products are also available in some states.

Federated Insurance – Pros and Cons

• Offers a wide range of coverages for businesses.
• High ratings through A.M. Best and the BBB
• Excellent choice for high-risk drivers.
• Excellent choice for high-risk drivers.

• Not many discounts.
• Depending on the state, the level of customer service may differ.
• There are severe restrictions on how coverage can be used.

Federated Insurance Products

Federated Mutual Insurance offers an array of products to cover the specific needs of businesses and individuals. From property & casualty insurance and workers’ compensation, to employee benefits plans such as group health, dental and vision coverage, Federated Mutual has a solution for all your insurance needs. With broad coverage options and customizable plans, Federated Mutual is committed to providing comprehensive protection for their policyholders.

Some of the products include:

Commercial Property Insurance: coverage for physical damage to a business’s property, such as buildings, equipment, and inventory
General Liability Insurance: coverage for third-party claims of bodily injury or property damage resulting from the business’s operations
Workers’ Compensation Insurance: coverage for medical expenses and lost wages for employees who are injured on the job
Business Auto Insurance: coverage for vehicles used for business purposes, including liability, collision and comprehensive coverage
Cyber Liability Insurance: coverage for financial losses, as well as legal costs, resulting from a data breach or cyber-attack
Professional Liability Insurance: coverage for financial losses resulting from errors or omissions in the professional services provided by the business
Directors and Officers Liability Insurance: coverage for claims against the business’s leaders for wrongful acts in their official capacities.
It’s important to note that the specific coverage offerings and terms can vary by state and by the company.

Federated Insurance Reviews

“Very helpful. They cut the cost of my home owners policy in half of what Farmers was charging me. The comparison was apples to apples. Worth looking into.”

“Federated Insurance Company handled my claim quickly and with quality service. ”

“This company keeps calling me and there is just silence on the other end and when I try to call them back it’s still just silence and I don’t even use this company for anything. “

Source: Yelp, Trustpilot, Federated google reviews

Third-Party Reviews

Federated Mutual Insurance has earned a number of outstanding reviews from third-party sources, affirming its commitment to providing top-notch customer service and excellent value for money. For example, Consumer Affairs rated Federated Mutual Insurance 4 out of 5 stars, with users praising the company’s responsiveness and helpfulness when dealing with claims. Independent financial research firm J.D. Power also awarded Federated Mutual Insurance the highest rank in the Mid-Size Insurance segment of the U.S Auto Claims Satisfaction study and gave it their highest score in the customer service category. The National Association of Insurance Commissioners has also recognized Federated Mutual Insurance as a company that focuses on consumer satisfaction with its products and services. With such high praise from reputable sources, it’s no surprise that Federated Mutual Insurance is one of the most trusted names in the insurance industry. Customers can rest assured knowing that they are getting excellent coverage and customer service when they choose to work with Federated Mutual Insurance.

The Bottom Line

Federated Mutual Insurance has been an established and respected insurance provider for over 125 years. Their commitment to providing reliable coverage and excellent customer service makes them a trusted choice for many individuals and businesses. Based on our review, we are confident in recommending Federated Mutual Insurance as a dependable insurer that can provide the sound protection you need. Whether you are seeking personal, commercial or specialty coverage, you can count on the experienced staff at Federated Mutual Insurance to provide the best possible service and protection for your unique needs. They offer competitive pricing, convenient payment options and knowledgeable staff that will work with you every step of the way. We are confident that you will find a policy from Federated Mutual Insurance that will provide the security and peace of mind you need.