InsuredBetter's Madison Mutual Insurance Company Score
3 Stars
We award Madison Mutual Insurance Company a final rating of 3 out of 5 stars. The carrier is highly rated by the BBB, but its rating by AM Best falls below many modern carriers' rated "A" or higher. The carrier is also not accredited by the BBB and has a couple of negative customer reviews.
Madison Mutual does provide a good selection of coverages for customers. They also offer several discounts. Coverage is not currently available nationwide.
Overall, we say go ahead and look into Madison Mutual with the help of your independent insurance agent. You just may want to browse a few other options, too.
Madison Mutual Insurance Company at a Glance
- Founded in 1919
- Offers coverage for individuals and farm owners
- Rated "B+" (good) by AM Best
- Rated "A+" (excellent) by the Better Business Bureau (BBB)
- Discounts available
Madison Mutual Insurance Company Pros and Cons
| Pros: | Cons: |
|---|---|
Longstanding carrier with over a century's experience in the industry.
|
Coverage not available nationwide.
|
|
High rating by the BBB.
|
Not accredited by the BBB.
|
|
Offers several types of coverage.
|
Lower AM Best rating than many.
|
|
Offers several discounts.
|
What Type of Insurance Does Madison Mutual Offer?
Here's an overview of the products offered by Madison Mutual.
- Auto insurance
- Home insurance
- Umbrella insurance
- Farmowners insurance
Your independent insurance agent can help you find more information about the coverages offered by Madison Mutual, and help you decide if this insurance company is right for you.
What to Know about Madison Mutual Insurance Company
Founded in 1919, Madison Mutual Insurance Company has more than a century's worth of experience in the insurance industry. The carrier originally wrote only auto insurance, but expanded their catalogue in the 1980s to include home insurance, farmowners insurance, and personal umbrella insurance.
Madison Mutual offers its coverage in Illinois, Wisconsin, Indiana, and Missouri. The insurance company is represented by 400 agencies and 500 licensed producers. There are 38 employees on their LinkedIn network.
Despite its longstanding history, Madison Mutual has experienced a drop in its financial strength rating in recent years. AM Best now gives Madison Mutual an overall “B+” rating, indicating the carrier is a good choice for customers in terms of financial strength, but below average.
Established in 1899, AM Best is one of the oldest rating companies in the world. Reviews from AM Best indicate an insurance company’s financial strength and creditworthiness and are based on comprehensive evaluations of the company’s operating performance, business profile, and annual report.
What Discounts Does Madison Mutual Offer?
Here's a list of the discounts offered by Madison Mutual on their auto insurance.
- Safe driver discount
- Good student discount
- Anti-theft device discount
- Multi-car discount
- Multi-policy discount
- Loyalty discount
Madison Mutual does not provide further details about how to qualify for these discounts, or how much they'll save you on your coverage. For more information about Madison Mutual's discounts, work with an independent insurance agent. Independent insurance agents work hard to get you the most affordable coverage.
Madison Mutual Customer Service
Here's a breakdown of Madison Mutual's customer service options and availability.
- Phone contact option
- Snail mail contact option
- Online claims reporting
- Customer service phone department does not specify hours
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.
Madison Mutual Insurance Company FAQs
What is Madison Mutual's average claim response time frame?
Madison Mutual does not specify a claims response time frame.
What is Madison Mutual's customer service availability?
Madison Mutual does not specify their customer service phone department's hours. The carrier can also be reached via snail mail.
What is Madison Mutual's claims process?
Madison Mutual does not detail their claims process beyond how to file. However, an independent insurance agent can file claims for you and keep you updated through every step of the process.
Does Madison Mutual create a user-friendly experience for customers?
Madison Mutual does not provide as much detail as other carriers about things like their customer service availability and claims processes. The carrier does have a full presence on social media however, making them more accessible to customers.
Does Madison Mutual have good auto insurance?
Beyond the standard auto insurance options, Madison Mutual also offers the following coverage add-ons to their policies:
- Rental reimbursement
- 24/7 roadside assistance
- No-deductible glass coverage
The carrier also offers several discounts on their auto policies. An independent insurance agent can help you find out if Madison Mutual's auto insurance is a good fit for you.
Is Madison Mutual a good insurance company?
Madison Mutual is highly rated by the BBB, but their rating by AM Best is lower than many other insurance companies'. While customer feedback is a bit mixed, overall it seems to be mainly positive. Overall, yes, Madison Mutual can be considered a good insurance company.
Sources
https://madisonmutual.com/
https://news.ambest.com/presscontent.aspx?refnum=28268&altsrc=9
https://www.bbb.org/us/il/edwardsville/profile/insurance-companies/madison-mutual-insurance-0734-110004643/customer-reviews
https://www.linkedin.com/company/madison-mutual/about/
https://clearsurance.com/insurance-reviews/madison-mutual-insurance-company-illinois-5835ece073b103329e91abcb
