Foremost Insurance Review

Foremost Insurance is a solid all-around option for small and mid-size operations, delivering exceptionally flexible liability and property coverage options alongside workers compensation and commercial auto policies.

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The Good

Package policies for hundreds of business types

Whatever kind of business you’re operating, it’s very likely Foremost Insurance has a comprehensive package to protect you from all the business risks common to your industry. On top of standard business owner’s policies that cover general liability and property, Foremost delivers a range of specialty coverages, including everything from loss of income insurance all the way to targeted coverage for sewers and drains. In fact, the company’s policy options are so flexible they’re able to meet the special needs of more than 600 different businesses in total. Commercial auto coverage, workers compensation insurance, and employment practices liability coverage are also available.

Member of the Farmers Insurance family

Although Foremost Insurance is not as well known as other national insurers, it’s a top-notch provider and a member of the Farmers Insurance family of companies. Foremost Insurance operations are largely independent of its parent company, however, enabling them to develop unique insurance products and services. In fact, Foremost Insurance operated on its own for nearly 50 years before being acquired by Farmers in 2000. Today, Foremost Insurance boasts independent financial ratings on par with many of the best-known insurers in the country, including A and A+ ratings from A.M. Best and Standard and Poor’s, respectively. These ratings both reflect an excellent long-term financial outlook, attesting to the insurer’s solid position in the industry.

Licensed to sell insurance in all 50 states

Foremost business insurance policies are sold by more than 38,000 independent insurance agents located in all 50 states and Washington, D.C. Wherever you operate your business, you’re likely to find a Foremost agent to help you select an insurance policy with the coverage options that best fit the needs of your business. What’s more, since Foremost also offers consumer auto and home insurance products, you can turn to the company for all your insurance needs, both business and personal.

Multi-policy discount available

If you need commercial auto insurance alongside a standard business owner’s policy, you should consider getting a Foremost Insurance policy quote to see how much you can save. Business insurance discounts aren’t particularly common in the industry, but Foremost offers some solid savings whether you’re looking to cover a single van or a fleet of business vehicles. Discount amounts vary from state to state, so contact your local Foremost Insurance agent to learn more about the discounts currently available in your area.

The Bad

No online account access or claims filing

If you’re used to managing various accounts and services online, you should note that Foremost Insurance doesn’t offer much in the way of online access apart from a simple payment submission service. In fact, the company is one of the few major business insurance companies that doesn’t enable you to initiate a policy claim online. Rather, you must contact the 24-hour claims center by telephone to get your claim started. Although many policyholders won’t mind this omission too much, the ability to initiate a claim simply by submitting an online form would be a welcome development and add a convenient option to the claims-filing process. Similarly, online access to electronic policy documents makes a lot of sense, although this capability remains pretty rare in the industry.

The Details

Financial Strength

  • A.M. Best FSR Rating: A
  • A.M. Best ICR Rating: a
  • Moody's Rating: Not listed
  • Standard & Poor's FSR: A+
  • Standard & Poor's ICR: A+

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