InsuredBetter's FM Global Insurance Company Score
4 Stars
We award FM Global a final rating of 4 out of 5 stars. The insurance company has a high rating by AM Best. However, it's not rated by the BBB, though remarkably, the carrier has had zero complaints filed against it through the organization. FM Global has a massive reach on a global scale, which helps it provide important business coverage solutions to insurance customers in many different countries.
FM Global was founded in 1835, giving the carrier nearly two centuries of experience in the insurance industry. Today, FM Global is one of the world’s largest commercial property insurance companies, offering coverage in more than 145 countries across the globe. The insurance company ranks on Fortune magazine’s list of the largest companies in the U.S. overall.
The insurance company proudly declares that it provides coverage to more than one-third of Fortune 1000 businesses worldwide. The FM Global Group consists of a family of business insurance companies, including FM Global, AFM, FM Global Cargo, FM Approvals, Mutual Boiler Re, and Emergency Response Consultants.
As one of the world’s largest commercial property insurers, it seems FM Global also does an excellent job delivering dependable coverage. It’s virtually impossible to find customer complaints or negative reviews about the carrier.
FM Global's impressive financial strength and dedication to providing customers with 24/7 claims reporting options further aid the carrier’s credibility. So, if you’re a professional in need of important coverage for your business, we say don’t hesitate to ask your independent insurance agent about looking into FM Global as your next trusted insurance company.
FM Global Pros and Cons:
| Pros: | Cons: |
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Longstanding carrier, founded in 1835
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Not rated by the Better Business Bureau (BBB)
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One of the world’s largest commercial property insurers
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Not much detail about claims process
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Coverage available in more than 145 countries
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No discount information provided
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“A+” (superior) rating by AM Best
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Covers one-third of Fortune 1000 businesses
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24/7 claims reporting
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FM Global Insurance Products by Type
FM Global focuses its efforts on business insurance. The carrier's coverage offerings include:
Business Insurance:
- Cyber resilience solutions (cyber liability insurance)
- Commercial property insurance
- Communicable disease insurance
- Business interruption insurance
- Boiler and machinery insurance
- Cargo insurance
- All-risk coverage
- Captives and captive cell insurance
FM Global Business Insurance Average Prices
FM Global does not make information about its average business insurance premiums readily available. An independent insurance agent can provide you with exact quotes for FM Global business insurance. You can also get a better idea of how much a commercial insurance policy might cost you by using our business insurance calculator.
What Discounts Does FM Global Offer?
While FM Global does not make information about its specific discounts readily available, many insurance companies today offer several common discounts on comparable coverages. These discounts often include:
- Close proximity to fire station discount: This is offered on commercial property insurance when the business is located close to a fire station.
- Safe construction rating discount: This is offered on commercial property insurance when the business was constructed with fire-resistant materials that rank high on the rating scale.
- Sprinkler system discount: This is offered on commercial property insurance when a business installs sprinkler systems to mitigate fire risk.
- Safe practices discount: This is offered on commercial property insurance when the business conducts only safe operations on the premises.
- New construction discount: This is offered on commercial property insurance when the business’s building is newly constructed.
Your independent insurance agent can help you find more information on exact discounts offered by FM Global and other ways to save money through the insurance company with the coverage you need at the rate you deserve.
FM Global Customer Service
FM Global allows customers to report claims via phone or online at any time. The carrier also provides the following customer service options:
- Online claims reporting
- 24/7 phone claims reporting
- Fax claims reporting
- Snail mail
- General contact form on website
- The main customer service hotline does not specify hour restrictions
| Days | Hours |
| NOT SPECIFIED | NOT SPECIFIED |
The best way to ensure a smooth customer service experience is to work with an independent insurance agent. Independent insurance agents can help handle claims and other concerns for you, so you can relax and enjoy your coverage.
FM Global Insurance FAQs
What is FM Global's average claim response time frame?
FM Global allows customers to file claims over the phone or online at any time, and the insurance company promises immediate claims responses. The carrier states that it will respond to newly filed claims within 48 hours.
What is FM Global's customer service availability?
FM Global allows customers to file claims at any time online, over the phone, or through fax or snail mail. The carrier's main customer service hotline does not specify contact hours. The insurance company does have a social media presence on Facebook, LinkedIn, YouTube, Instagram, and X, which makes it more accessible to customers.
What is FM Global's claims process?
FM Global allows its customers to file claims anytime through multiple mediums. However, the carrier’s official website does not detail much about its claims process other than how to file and how quickly customers can expect a response. If customers have questions about filing claims, they can contact the carrier by phone or any of their other options, or follow the steps outlined in their online account.
Does FM Global create a user-friendly experience for customers?
FM Global’s official website is polished and fairly intuitive. However, for such a well-established carrier, it seems to be a bit lacking. The insurance company does not provide much in the way of a contact page, other than a generic contact form, which feels dated. It takes some digging to find further contact information for the insurance company, which could certainly deter some prospective customers.
However, the carrier does provide 24/7 claims reporting and online claims reporting, which are services provided by most modern insurance companies today. The insurance company also has a strong social media presence. So, while they may not have the most user-friendly experience compared to other carriers, overall, FM Global does provide several contact options for its customers.
Does FM Global have good business insurance?
FM Global specializes in various forms of business insurance. The carrier offers cyber liability insurance, commercial property insurance, boiler and machinery insurance, and much more. Your independent insurance agent can help you find out more about FM Global’s business insurance policies, including its all-risk coverage and other products.
Is FM Global a good insurance company?
FM Global has been in the industry for quite some time now. The carrier has received an extremely high rating from AM Best. Even more impressively, the insurance company does not have any complaints filed against it through the BBB, which is certainly noteworthy given its massive reach and many years in the industry. Combined with its comprehensive business coverage options, FM Global can arguably be considered a good insurance company.
Who are FM Global's insurance products right for?
FM Global's insurance products may be right for commercial customers and professionals seeking various types of business insurance.
Sources
https://www.fm.com/
https://news.ambest.com/newscontent.aspx?AltSrc=104&RefNum=255635
https://www.bbb.org/us/ri/providence/profile/insurance-companies/fm-global-0021-190012/addressId/710021
