Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business 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. (read more)
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. (read more)
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.
Merchants Insurance Group Reviews
Merchants Insurance Group was founded in 1918 by Urban F. Jehle to offer insurance to a group of local merchants for their delivery vehicles. It now provides insurance to businesses and individuals in the Northeastern, Mid-Atlantic and North Central United States and employs more than 300 people throughout its operating territories. The company sells products through a network of more than 650 independent insurance agents. It is headquartered in Buffalo, NY with regional offices located in Bedford, New Hampshire and Mt. Laurel, New Jersey.
Merchants offers wholesale, office, retail, food service, workers compensation, and automobile and collision repair insurance solutions as well as personal insurance coverage for condominium owners, apartment tenants and automobile damages. Merchants also provides loss prevention and claims surveying services.
If you are a business owner looking to buy liability insurance, read Merchants Insurance Group reviews to learn about Merchant's products.
Check out Merchant Insurance Group reviews, ratings, complaints & coverage for general liability, workers compensation and other small business insurance commercial policies.
Small Business Coverages Offered By Merchants Insurance
Merchants Insurance Group Reviews 2019 (Ratings, Complaints & Coverage). Merchants primary focus is insurance for small and medium businesses, although the company offers insurance to individuals as well. They have the financial size and strength to insure businesses across multiple sectors, but are small and lean enough to respond quickly to customer needs and the changing market place. The Merchants Insurance Group reviews are fair.
Professional Liability. If you offer professional services such as making recommendations, giving advice, designing products, representing others or giving physical care, you risk being sued by your clients claiming that you failed to perform your duties properly and harmed them. Merchants errors and omissions insurance will cover these situations. Merchants Insurance Group reviews for PL are good.
Commercial Auto. Merchants also offers automobile insurance. Policy holders who have both collision and comprehensive (other than collision) coverage on their vehicle have free roadside assistance available to them. This includes free 24-hour toll-free assistance in the US and Canada. For broken glass claims, either for replacement or repair, Merchants partners with Safelite Auto Glass. Merchants Insurance Group ratings for business auto are ok.
Contractors Insurance. This policy is also a comprehensive for artisan contractors. Merchants Insurance Group offers more than 30 types of policies for contractors like electricians, landscapers, HVAC technicians, fence installers and janitorial services. The coverage in this policy are replacement cost, per location and period aggregate limit, leased and rented equipment, installation floater, blanket additional insured and unscheduled tools and equipment.
Business Interruption. Covers businesses that suffer a loss because they cannot trade for a period of time due to loss or damage from a weather event, flood, fire or other insured interruptions.
Worker's Compensation. Any business that hires employees outside of the owner's immediate family should purchase a workers comp policy. In fact, most states require this coverage. If an employee is injured on the job, this policy covers their medical expenses and loss of income. In the case of permanent disability, a workers compensation policy can provide benefits until the employee reaches retirement age. Merchants Insurance Group reviews for WC are favorable.
Commercial Property. Whether a business owns or leases its space, property insurance is a must. This insurance covers equipment, signage, inventory and furniture in the event of a fire, storm or theft. Events like floods and earthquakes are not covered under standard property insurance policies. If your area is prone to these issues, check with your insurer to price a separate policy.
Data Breach. If your small business stores private or sensitive information about your clients on servers, computers, or paper files you need to protect that information. In case a data breach occurs this policy will cover against the loss.
Merchants Insurance Group Rates
Merchants does not offer online quoting, and policies are only available through agents. This makes it difficult to obtain a comparison quote. As a regional insurer working through agents therefore, Merchants is not the cheapest option for most people. They instead rely on good products and great customer service to earn and keep their customers. Merchants ratings for quotes are below average.
Merchants Insurance Group Claims
The company guarantees up front that they settle claims very fast. Widespread anecdotal evidence certainly backs this up, with hundreds of customer reviews across numerous websites praising them for their claim response time. Claims may be submitted and tracked over the phone, online or by using the company's mobile app. Merchants Insurance Group reviews for claims are good.
Merchants Insurance Group's Small Business Insurance Reviews & Ratings
- BBB Profile. Merchants Insurance Group is not BBB Accredited.
- Financial Strength Rating. In March 16, 2017, A.M. Best revised the outlooks of Merchants Insurance Group to stable from negative and affirmed their Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "A-". The revised outlooks reflect Merchants' strong level of risk-adjusted capitalization, improved favorable operating results, growing use of predictive analytics to improve underwriting results further and a solid regional presence.
Merchants Ratings Online
Following are some ratings found online which appear mixed:
- BBB.org - The Better Business Bureau rates them 3.68 out of 5 stars.
- glassdoor.com - Glass Door rates them 2.5 out of 5 stars.
Merchants Insurance Group's Contact Information
Address: 250 Main Street, Buffalo, NY 14202
Merchants Insurance Group Commercial Insurance Bottom Line
Merchants Insurance Group provides independent agents the most trusted insurance available serving the needs of customers. Through strong relationships, trust, accessibility and stability, the company focuses on the customer and independent agent satisfaction, striving to provide quality and financially secure products.
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