Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
AmTrust Insurance Reviews
AmTrust Insurance Reviews 2019 (Ratings, Coverage & Complaints). AmTrust Insurance is a division of the larger AmTrust Financial Services; a multinational casualty and property and insurance company based in New York. AmTrust Financial Services operates through its subsidiaries to offer insurance services in the following three segments:
- Specialty Middle-Market Property and Casualty insurance
- Specialty Risk and Extended Warranty Insurance
- Small Commercial Business insurance
This article will focus on small commercial business segment. If you are a business owner looking to buy liability insurance, read AmTrust Insurance reviews to learn about AmTrust's products.
Check out AmTrust Insurance reviews & ratings for for small business general liability, workers comp and other commercial policies.
AmTrust Insurance History
AmTrust Insurance was originally founded in 1972. However, AmTrust Financial where AmTrust Insurance is now a division was founded in 1998. The founders were George and Michael Karfunkel, and Barry Zyskind who is the current CEO of the company. Since it was founded 19 years ago, the company has expanded to become a global insurer through over 40 acquisitions with is major operations being in United Kingdom, North America, and mainland Europe.
In 2006 the company was listed on the NASDAQ Global Select Market under AFSI ticker symbol. Currently, the company serves in 70 countries across the globe with over 7,000 employees. Over the years, it has grown to become a leading commercial insurer in North America with a rating of "A" from AM Best Company. AmTrust Insurance reviews are good/
When the company started out, it focused on serving property and casualty markets which were then underserved by the large insurance carriers. Thus, the company started offering various insurance packages and policies to serve low risk, small and medium size businesses. It also offers a wide range of insurance products including commercial business insurance.
Core Business Segments
The company sells its commercial insurance packages based on the risk analysis of the preferred business class. These packages fall in the following segments: commercial insurance package, specialty business insurance, and specialty risk and extended warranty. AmTrust Insurance ratings differ based on the segment.
Commercial Business Insurance Package: This package offers workers compensation to small businesses that operate in low to medium risk classes. These types of businesses include restaurants, hotels, light manufacturing, building owners, retail stores, laundry/dry cleaning, physicians, lawyers, and other professional offices.AmTrust Insurance reviews for workers comp are good.
Specialty Business Insurance: Besides the commercial business package, the company also offers other casualty and property insurance products to small businesses. This segment covers general liability, excess surplus lines insurance programs, commercial auto liability, and other specialty commercial property and casualty insurance.
Specialty Risk and Extended Warranty: The company also tailors its commercial insurance package to include cover that meets the unique needs of specific businesses. Thus, this segment offers tailor made coverages such as payment protection plans, accidental damage, and auto insurance. Most of these packages allow flexibility in terms of insurance add-ons that include auto, general liability, property, workers compensation, boat, or even a commercial umbrella policy.
AmTrust Financial Services, Inc. Availability
Those wishing to access AmTrust's business commercial package need to submit a written description to clarify its risk assessment and operations. Only companies with a loss ratio lower than 40% and have been operational for at least three years are eligible for the commercial business insurance package. AmTrust Insurance reviews for easy of getting quotes are difficult to find.
Small business owners looking to insure themselves with AmTrust need to carefully research various policies offered by the company. This is because, each policy has diverse classifications of businesses it is available for, different regions of the country it is available in, and a varying application process.
To be more specific, the company's commercial business insurance package is available in the following regions/states in United States:
- The entire western United States apart from Hawaii and Alaska
- The entire Midwest apart from Michigan
- Only limited number of states along the Atlantic such as Pennsylvania, Georgia, and Delaware
AmTrust Ratings Online
Following are some ratings found online which appear mixed:
- BBB.org - The Better Business Bureau rates them 3.23 out of 5 stars.
- glassdoor.com - Glass Door rates them 2.5 out of 5 stars.
- usinsuranceagents.com - US Insurance Agents rates them 1.0 out of 5 stars.
AmTrust Financial Services, Inc. Contact Information
Address: 59 Maiden Lane, New York, NY 10038
The Bottom Line On AmTrust Insurance
The company has evolved from just a simple insurance provider to grow into a multinational corporation present in 70 countries employing over 7,000 employees. As the organization expanded, it became better through investing in proprietary technology and people to offer some of the most innovative and flexible products to meet the needs of its customers. The company specializes in offering business insurance to small and medium businesses that operate in operate in low hazard classes.
More Commercial Insurance Company RatingsSmall Business Insurer Ratings: ACE Group, Acuity, AIG, Allstate, AmTrust, Chubb, CNA, Dongeal, Erie, Esurance, Farmers, Foremost, GEICO, Guard, Hanover, Hiscox, Liberty Mutual, Merchants Insurance Group, Nationwide, Philadelphia Insurance Companies, Progressive, Selective, State Farm, The Hartford, Travelers, USAA, USLI, Westfield, Zurich
Commercial Insurance Broker ratings: BB&T Insurance Services, Bolt, Brown & Brown, Burns & Wilcox, Contractors Edge, CoverWallet, Day Care Insurance Services, Inc., Insureon, TechInsurance, USG Insurance Services
Small Business Independent Insurance Association Ratings: Trusted Choice
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