Urban F. Jehle started Merchants Insurance Group in 1918 to offer insurance for delivery vehicles to a group of local merchants. It is a regional mutual insurance company. From there, the company grew and started to provide more insurance for people and businesses. Both Merchants Preferred Insurance Company and Merchants Mutual Insurance Company are subsidiaries. Merchant Insurance Group sells personal and business insurance through more than 1,000 independent agents in New Jersey, Michigan, Massachusetts, Rhode Island, New Hampshire, Ohio, New York, Vermont, and Pennsylvania. The company employs more than 300 people in five different countries. Merchants Insurance Group's business philosophy includes giving back to the community.
Advantages and Disadvantages
Pros
Both Merchants Insurance Group's financial strength and its claims and customer service have received high marks and won awards. People in the Northeast and North Central parts of the United States should think about this company when they are looking for the best deal on an insurance policy. Small business owners can choose from various policies that are put together in custom packages. You can also file a claim online, and people with a personal auto policy and a smartphone can use the company's mobile insurance app.
Cons
Some discounts or types of coverage may not be available in all states where insurance is sold. Also, the company only works with people in Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Vermont. The company's business insurance policies are significant, but they aren't as varied. You can't get an estimate online.
Ratings for the Company's Financial Health, Ratings for Its Customer Service, and Awards It Has Won
A.M. Best, a company that rates insurance companies, says that both companies in the Merchants Insurance Group are "A-" Excellent. The IIABNY (Independent Insurance Agents and Brokers of New York) put the company at the top of the list of SRCPC (Super Regional Commercial and Personal Carriers). This is very important. The award was for having excellent customer service, like responding quickly and handling claims correctly.
Better Business Bureau Rank
Merchants Insurance Group got an "A+" from the Better Business Bureau. The BBB file was opened in 1940. The BBB doesn't recognize Merchants Insurance Group as a business, and five customers have complained about them. The company took care of all the complaints, so the case is now closed.
Products for Personal Insurance
- Personal Umbrella Insurance
- Auto
- Homeowners
Personal insurance features and discounts worth mentioning include the "ACE" or additional coverage endorsement, which enhances your homeowner's coverage by providing additional coverage for useful items destroyed, lost, and stolen as a result of a covered loss; coverage for food that goes bad, credit cards, watercraft, and more. You can get even more protection by adding Extreme and Ultra ACE plans to your homeowner's policy.
The "POP" package of protection endorsement for a personal auto policy adds coverage for labor and towing, emergency first aid, transportation costs, emergency lodging, and reimbursement for dental care. You can pay more for a deductible that goes away, coverage for replacement costs, coverage for original equipment manufacturers, a waiver of the collision deductible, and coverage for accidental airbag deployment. Roadside assistance is free with a personal auto policy that covers damage to the car. A good student, a company car, a new car, a minor child, being paid off in full, having credit on your account, and having safety features are all things that can get you a discount on your car insurance.
Business Insurance
Merchants Insurance Group has commercial insurance packages that can be changed to meet the needs of different businesses. Some of the discounts for commercial package options are the discount for having more than one policy, the discount for having more than one location, the association credit, the discount for protective devices, and the sprinkler discount.
What You Need to Know About Merchants Insurance Group
Merchants Insurance Group was started in 1918, so it has been in the insurance business for more than a century. Merchants Insurance Group comprises three separate companies: Merchants Preferred Insurance Company, Merchants Mutual Insurance Company, and Merchants National Insurance Company. Currently, the company's services are available in Pennsylvania, New Jersey, Ohio, New York, Vermont, Michigan, Massachusetts, and New Hampshire.
Merchants Insurance Group has added more insurance products for both people and businesses. They now offer personal umbrella insurance, insurance for homeowners, business auto insurance, insurance for retail businesses, and a lot more. The insurance company only works with a network of more than 1,000 independent insurance agents to sell its products. All insurance customers get more personalized and complete service from independent insurance agents.
Review of Customers
Most people who talk about Merchants Insurance Group say good things about it, which shows how reliable it is. Clients say they are helpful when paying their premiums and needing to make a claim. People like how fast and reliable Merchants Insurance Group's agents are, and many customers say that Merchants was willing to help them when they needed to make a claim. Merchants didn't have many problems, most of which were fixed quickly.
