Federated Insurance is a direct writer of property and casualty insurance products. The Company has approximately 2,600 employees and operates in 47 states.
They offer a wide range of commercial insurance coverage for businesses, including specialty industries. They also have a substantial life insurance program for business and personal lines.
Commercial Lines
Federated Insurance writes a range of business insurance products, primarily aimed at medium to large companies and organizations. Their policies are custom-designed to meet the unique needs of each client.
Their property & casualty coverage includes a variety of specialty business risks, including professional liability, marine cargo and excess property, and more. They also have a group health plan that offers a wide selection of options for small to mid-sized businesses.
They provide various services for their clients, including business advice and insights on industry best practices. Their team also offers claims management and loss prevention programs.
They have received high ratings from A.M. Best, though they are not accredited through the BBB. This, combined with the fact that they have received several complaints and lawsuits in recent years, raises concerns for potential customers.
Personal Lines
Federated Insurance is a Minnesota-based company with a strong focus on business insurance. They have a specific list of businesses they target, and they offer a variety of specialty products to help them meet their customers’ needs.
They also have a group health insurance program for small and medium-sized businesses. This type of coverage is a good option for business owners who are looking for an inexpensive and comprehensive solution.
The Company has a claims branch network in several states, so it is easier for customers to report their claims. However, there is no information on their website about how long it takes for claims to be processed or approved.
A search of online reviews for Federated Insurance returns very few complaints overall and nothing else of significant concern in terms of company reputation. This is a strong indication that the Company is financially sound and has been around for a while, which makes it an excellent choice for customers.
Auto & Home
Federated Insurance is a business-focused insurance company that offers various business and personal insurance products. Their business insurance products are primarily aimed at small to medium-sized companies that fit into niche markets.
They also write various commercial property and casualty policies, including general liability, worker’s compensation, professional liability, and property damage coverage. They also have a substantial life insurance program, writing individual and group life plans.
For consumers, Federated Insurance offers a straightforward auto and home insurance program in Minnesota. Their auto policy includes primary liability and a “driver’s choice” program that lets drivers tailor the coverage to their needs.
The Company’s home insurance is a standard policy that covers the house’s structure against specific hazards. It also includes coverage for personal property like furniture, clothing, and appliances.
The online quote process is relatively easy, but customers must wait for an agent to contact them with more information. This makes it difficult to compare rates.
Group Health
Federated Insurance is a venerable oldie that writes a lot of small business policies. They also offer some slick group health plans. They have been around for nearly a century and are one of the few remaining family-owned insurers in this market segment. Among their many offerings, they have an impressive portfolio of specialty property and casualty products for various industries and even more specialized life products in IRAs and annuities. The Company is headquartered in Minneapolis, with service offices across the country. Founded in 1904, they are currently the oldest operating insurer of its kind and the most diversified, with a solid presence in 49 states. Their top-flight technology division offers some of the most technologically advanced and cost-effective insurance solutions in the industry.
