InsuredBetter's The Beacon Mutual Insurance Company Score
2.5 Stars
We award The Beacon Mutual Insurance Company a final rating of 2.5 out of 5 stars. The carrier is highly rated by the Better Business Bureau (BBB) but is not currently rated by AM Best. This makes it difficult for customers to assess the company's financial strength.
The Beacon Mutual Insurance Company was founded in 1990, giving the carrier more than three decades of experience in the insurance industry. Originally named The Fund, the insurance company's original mission was to improve the workers' comp market in the state of Rhode Island.
Today, Beacon Mutual still focuses its efforts on just workers' comp coverage, but its reach has expanded to Connecticut and Massachusetts. The insurance company offers its coverage exclusively through a network of independent insurance agents, which provide a more personalized and comprehensive experience for customers.
It's difficult to find much information about the carrier's coverage without contacting an agent, starting an application, or requesting a quote. Quotes can be requested online. Overall, we recommend looking into several carriers as options for workers' comp with the help of your independent insurance agent. You may find a better fit than Beacon Mutual.
Beacon Mutual Pros and Cons:
| Pros: | Cons: |
|---|---|
More than three decades of experience
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Not rated by AM Best
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Specializes in workers’ compensation coverage
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Not BBB accredited
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Rated “A+” (Excellent) by the Better Business Bureau (BBB)
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Coverage only available in Rhode Island, Massachusetts, and Connecticut
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Online claims reporting available
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Only one type of coverage offered
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Beacon Mutual Insurance Products by Type
The Beacon Mutual Insurance Company offers a special focus on one type of commercial insurance coverage:
- Workers' compensation insurance
Beacon Mutual Workers' Compensation Average Prices
Beacon Mutual does not publish information about its average workers' comp rates. Premiums for workers' comp can vary considerably depending on many factors, including location, number of employees, annual payroll, claims history, and more.
An independent insurance agent can help you get a quote from Beacon Mutual. You can also estimate how much a policy might cost your business by using our workers' compensation calculator.
What Discounts Does Beacon Mutual Offer?
The Beacon Mutual Insurance Company does not make information about its specific discounts readily available. However, an independent insurance agent can help find these details for you. Independent insurance agents work hard to find you the most affordable coverage that offers the right protection.
The Beacon Mutual Insurance Company Customer Service
Here's an overview of The Beacon Mutual Insurance Company's customer service options and availability.
- Phone
- Fax
- Snail mail
- Online claims reporting
The customer service phone department has the following hour restrictions:
| Days | Hours (EST) |
| Monday-Friday | 7:45 a.m.-5 p.m. |
| Saturday | CLOSED |
| Sunday | CLOSED |
To ensure a great customer service experience, work together with an independent insurance agent. Independent insurance agents can help handle claims and other matters for you, so you can relax and enjoy your coverage.
The Beacon Mutual Insurance Company FAQs
What is The Beacon Mutual Insurance Company's average claim response time frame?
The Beacon Mutual Insurance Company does not provide a specific claims response time frame promise. However, the carrier strives to get back to customers as soon as the claim is reported. Claims can be reported online at any time.
What is The Beacon Mutual Insurance Company's customer service availability?
The Beacon Mutual Insurance Company provides slightly extended phone hours during the week, as well as online claims reporting, snail mail, and a fax contact option for its customers.
What is The Beacon Mutual Insurance Company's claims process?
The Beacon Mutual Insurance Company details its claims process in simple steps.
- The injury is reported to the employer.
- The employer submits the report of the employee's injury to Beacon Mutual.
- The injured employee receives initial treatment.
- The employee follows the Stay-at-Work/Return-to-Work Program while retaining their salary benefits.
- The employee's treatment is completed.
- The claim is closed.
If you have further questions about Beacon Mutual's claims process, an independent insurance agent can assist you.
Does The Beacon Mutual Insurance Company create a user-friendly experience for customers?
The Beacon Mutual Insurance Company's official website is intuitive and easy to navigate. The carrier has a comprehensive social media presence across Facebook, Instagram, LinkedIn, and X. Online claims reporting is available. Overall, the insurance company provides a highly user-friendly experience.
Does The Beacon Mutual Insurance Company have good workers' comp coverage?
The Beacon Mutual Insurance Company does not provide much information about its coverage without going through an independent insurance agent. The carrier also provides consultations for workplaces interested in coverage and free online resources for making the work environment safer for all.
Is The Beacon Mutual Insurance Company a good insurance company?
Beacon Mutual is known for offering quality workers' comp coverage for Rhode Island, Connecticut, and Massachusetts residents for more than 30 years, as well as providing generous customer service availability and an excellent website. But while the carrier has a great rating by the BBB, it's not rated by AM Best for financial strength.
Who are The Beacon Mutual Insurance Company's insurance products right for?
Beacon Mutual's insurance products may be right for business owners and other professionals in need of workers' comp coverage. Customers must live in Rhode Island, Connecticut, or Massachusetts.
Sources
https://www.beaconmutual.com/
https://www.bbb.org/us/ri/warwick/profile/insurance-companies/the-beacon-mutual-insurance-company-0021-117925
