InsuredBetter's Benchmark Insurance Company Score
1.5 Stars
We award Benchmark Insurance Company a final rating of 1.5 out of 5 stars. Though the carrier is highly rated by AM Best, the Better Business Bureau has not evaluated or accredited it. It's also difficult to find much information about the carrier's insurance products, claims process, or discounts on the official website.
Founded in 1964, Benchmark Insurance Company offers several forms of coverage for customers across the country, including commercial auto insurance, BOP insurance, errors & omissions insurance, business interruption insurance, and more. Coverage is available in 49 states. Benchmark is an independent insurer and a subsidiary of Trean Insurance Group, Inc. Its headquarters are in Wayzata, MN.
Benchmark Insurance Company also does not have an obvious social media presence, and the carrier does not specify contact hours or a claims time frame response. There's also very little customer feedback about the insurance company, but what we can find seems largely mixed. Overall, we recommend working with an independent insurance agent to survey your other options for coverage in your area, and skip looking into Benchmark Insurance Company.
Benchmark Insurance Company Pros and Cons:
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Longstanding carrier, founded in 1964
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Not rated by the Better Business Bureau (BBB)
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Offers several types of commercial coverage
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Not a BBB-accredited carrier
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Rated “A” (excellent) by AM Best
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Limited coverage information
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Coverage available in 49 states
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No claims process information
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No discount information
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No social media presence
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Phone contact hours are not specified
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Benchmark Insurance Company Products by Type
Here's an overview of the products offered by Benchmark Insurance Company.
Business Insurance:
- Workers' comp insurance
- Commercial property insurance
- Business interruption insurance
- General liability insurance
- Pollution/environmental insurance
- BOP insurance
- Professional E&O liability insurance
- Cyber risk insurance
- Product liability insurance
- Commercial auto insurance
Other Insurance:
- Accident insurance
Benchmark Insurance Company Business Insurance Average Prices
Benchmark Insurance Company does not make its average business insurance rates readily available online without requesting a quote. However, an independent insurance agent can help you find specific quotes for the exact amount of commercial insurance you need and also compare quotes from multiple carriers for you. You can get a better idea of how much a commercial insurance policy might cost you by using our business insurance calculator.
What Discounts Does Benchmark Insurance Company Offer?
Benchmark 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 still gets the job done right.
Benchmark Insurance Company Customer Service
Here's a breakdown of Benchmark Insurance Company's customer service options and availability.
- Phone
- Fax
- Online contact form
- Snail mail
- Phone and online claims reporting
The phone customer service department's hours are not specified
| Days | Hours |
| NOT SPECIFIED | NOT SPECIFIED |
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.
Benchmark Insurance Company FAQs
What is Benchmark's average claim response time frame?
Benchmark Insurance Company does not provide a claims response time frame.
What is Benchmark's customer service availability?
Benchmark allows customers to contact it through several mediums, but does not specify its phone contact hours. Phone and online claims reporting is available.
What is Benchmark's claims process?
Benchmark does not detail its specific claims process beyond how to file. Your independent insurance agent can file claims for you directly and keep you updated through every step of the process.
Does Benchmark create a user-friendly experience for customers?
Benchmark could benefit greatly from adding more information to its website, such as coverage details, phone contact hours, discount information, etc. It also does not list any social media pages on its official website. Overall, the carrier is quite a bit behind in terms of user-friendliness.
Does Benchmark have good property & casualty insurance?
Benchmark provides several coverage options for customers under property & casualty insurance. The official website states that this coverage can protect against the following risks.
- Natural disasters
- Professional E&O liability
- Cyber risk
- Product liability
- Commercial auto
- Stop-loss
- Property damage and business interruption
- General liability
- Commercial liability
- Pollution/environmental
- BOP
- And more
An independent insurance agent can help you find more information about Benchmark's insurance products and further coverage details.
Is Benchmark a good insurance company?
Benchmark Insurance Company has been highly rated by AM Best and provides several types of coverage for its customers. However, the company is not rated or accredited by the Better Business Bureau, and it's difficult to find customer feedback, which makes it difficult to determine whether they can be considered a good company overall.
Who are Benchmark's insurance products right for?
Benchmark's insurance products may be right for business owners and other professionals seeking various types of commercial insurance. Coverage is available in 49 states.
Sources
https://www.benchmarkinsco.com
https://ratings.ambest.com/CompanyProfile.aspx?ambnum=11205&AltNum=94511205
https://www.bbb.org/us/mn/wayzata/profile/insurance-services-office/benchmark-insurance-company-0704-96100373
