Federated Insurance Review 2023

Your Best Option for Insurance? | ⭐️⭐️⭐️⭐️ 

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. 

In this blog

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. 

Source: Hagerty Insurance

Federated Insurance – Pros and Cons

Pros

Cons

 

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

 

  • 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 Reviews

Image: Federated Insurance

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. 

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Contact a local agent online to help you with your insurance needs.

Federated Insurance Reviews

Customer Reviews 

Reviews

Rating

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, Hagerty google reviews 

Third-Party Reviews

Organization

Progressive Rating

Description

Better Business Bureau A+ Financial strength
A.M. Best A+ Superior

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. 

Connect With The Best Insurance Agents Near You

Contact a local agent online to help you with your insurance needs.

Frequently Asked Questions

Does Federated Mutual Insurance offer any benefits?

Yes, Federated Mutual Insurance provides a variety of benefits to its customers. These include competitive rates on auto, home and life insurance policies, as well as discounts for bundling multiple policies together. Additionally, they provide a wide range of financial protection products such as accident forgiveness and vanishing deductibles.  

Does Federated Mutual Insurance have any payment plans available?

Yes, Federated Mutual Insurance offers several payment plan options. Customers can choose to set up a monthly or yearly direct debit payments, pay online through their website, or pay in full upfront.  

What types of coverage does Federated Mutual Insurance offer?

Federated Mutual Insurance offers a wide range of coverage types to suit any customer’s needs. These include auto, home, life, health and business insurance policies as well as financial protection products such as accidental death and dismemberment coverage and disability income protection. 

Connect With The Best Insurance Agents Near You

Contact a local agent online to help you with your insurance needs.

Sources

Agency Height is an insurance directory devoted to connecting agents and potential insureds. For insurance seekers, we provide a free platform to evaluate different insurance alternatives and discover the best coverage for their requirements. Agency Height also assists agents in discovering important information and features that will enable them to make sound career decisions. 

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