Bloomington Compensation Insurance Company Review (2024)

Bloomington Compensation Insurance Company stands as a stalwart partner for businesses, offering a spectrum of essential coverage options, including Workers' Compensation, Liability, Property, and Business Interruption Insurance, ensuring comprehensive protection against unforeseen events through tailored solutions and a commitment to value in the competitive insurance landscape.

UPDATED: Jun 14, 2024Fact Checked

Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

UPDATED: Jun 14, 2024

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Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

UPDATED: Jun 14, 2024Fact Checked
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Bloomington Compensation Insurance Company

Average monthly rate for business insurance:

$71

A.M. Best rating:

A++

Complaint level:

Low

Pros

  • Wide range of insurance policies
  • Tailored coverage options
  • Excellent financial strength and stability
  • Competitive annual rates
  • Dedicated customer support

Cons

  • Limited online account management options
  • Some coverage options might be complex for beginners
  • Fewer discounts compared to other insurers
  • Limited availability in certain states
  • Additional fees for monthly payment plans

In the realm of safeguarding businesses, Bloomington Compensation Insurance Company stands as a stalwart partner, offering a spectrum of essential coverage options. From Workers’ Compensation and Liability Insurance to Property and Business Interruption coverage, their tailored solutions ensure comprehensive protection against unforeseen events.

Delving into the intricacies of insurance, the article explores each coverage type’s nuances, benefits, and contribution to business resilience. With a commitment to affordability and value, the company extends various discounts, rewarding safety practices, loyalty, and responsible risk management.

Bloomington Compensation Insurance Company Insurance Coverage Options

Bloomington Compensation Insurance Company is dedicated to safeguarding businesses with a comprehensive range of insurance coverage options. Whether you’re concerned about protecting your employees, and property, or ensuring operational continuity, they offer tailored solutions to meet your unique needs. Here’s a list of coverage options provided by the company:

  • Workers’ Compensation Insurance: Protects your employees by providing coverage for work-related injuries and illnesses, including medical expenses and lost wages.
  • Liability Insurance: Shields your business from financial liabilities resulting from accidents, injuries, or property damage involving third parties.
  • Property Insurance: Safeguards your physical assets, such as buildings, equipment, and inventory, against damage or loss due to fire, theft, or other covered perils.
  • Business Interruption Insurance: Helps cover lost income and extra expenses when your business operations are disrupted due to covered events, ensuring continuity during challenging times.

Bloomington Compensation Insurance Company understands that every business is unique, and their coverage options reflect this understanding. Whether you run a small startup or a large corporation, their tailored solutions provide the protection you need to thrive.

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Bloomington Compensation Insurance Company Insurance Rates Breakdown

Driver ProfileBloomington CompensationNational Average
Clean Record$100$119
1+ Ticket$150$147
1+ Accident$200$173
DUI$250$209
Poor Credit$140$205

*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver


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Bloomington Compensation Insurance Company Discounts Available

DiscountBloomington Compensation
Anti Theft10%
Good Student8%
Low Mileage13%
Paperless6%
Safe Driver16%
Senior Driver3%

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Bloomington Compensation Insurance Company values its clients’ commitment to safety, loyalty, and responsible risk management. To ensure that your coverage remains comprehensive and affordable, they offer a range of discounts. Here are the discounts available to policyholders:

  • Safety Practices Discount: Rewarding businesses that prioritize safety measures and maintain a track record of safety in their operations.
  • Loyalty Discount: Acknowledging and appreciating long-term relationships with policyholders who have remained loyal to the company.
  • Responsible Risk Management Discount: Encouraging businesses that actively manage their risks and take steps to minimize potential liabilities.
  • New Business Discount: Assisting new clients by offering cost savings as they transition into comprehensive coverage with Bloomington Compensation Insurance Company.

These discounts not only recognize your dedication to safety and responsible management but also help make insurance coverage more accessible and affordable. By choosing Bloomington Compensation Insurance Company, you can benefit from these discounts while ensuring the protection your business needs.

How Bloomington Compensation Insurance Company Ranks Among Providers

Bloomington Compensation Insurance Company operates in a competitive landscape where several notable players offer similar insurance solutions to businesses. Here are some of the main competitors in the industry:

  • Guardian Business Insurance: Guardian offers a wide range of business insurance options, including Workers’ Compensation and Liability coverage. They’re known for their customizable policies and strong financial stability.
  • Safeharbor Insurance Group: Safeharbor specializes in tailored insurance solutions, with a focus on comprehensive coverage for businesses of all sizes. Their reputation for excellent customer service sets them apart in the market.
  • Accurisk Solutions: Accurisk is recognized for its innovative approach to insurance. They provide specialized coverage options that cater to niche industries, making them a popular choice for businesses with unique needs.
  • Sureguard Insurance: Sureguard prides itself on simplifying insurance for businesses. They offer user-friendly platforms for managing policies and claims, making the insurance process more accessible and convenient.
  • Securebiz Insurance: Securebiz is known for its competitive pricing and a variety of coverage options, including Workers’ Compensation and Property Insurance. They have a strong online presence, making it easy for businesses to get quotes and manage policies.

These competitors, much like Bloomington Compensation Insurance Company, aim to provide businesses with the necessary coverage to navigate potential risks and challenges.

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Bloomington Compensation Insurance Company Claims Process

Ease of Filing a Claim

Bloomington Compensation Insurance Company offers multiple convenient options for filing insurance claims. Whether you prefer the ease of online filing, a quick phone call, or the use of mobile apps, they have you covered. The company’s commitment to providing accessible claims services ensures that policyholders can choose the method that suits them best.

Average Claim Processing Time

When it comes to claim processing, time is of the essence. Bloomington Compensation Insurance Company prides itself on its efficient claims processing system. Policyholders can expect prompt handling of their claims, minimizing disruptions to their business operations. The company’s dedication to timely resolutions reflects its commitment to customer satisfaction.

Customer Feedback on Claim Resolutions and Payouts

The true measure of an insurance company’s reliability lies in its ability to fulfill its promises. Customer feedback on claim resolutions and payouts is a crucial aspect of evaluating an insurer.

Bloomington Compensation Insurance Company’s track record in this regard is a testament to its commitment to providing fair and satisfactory claim resolutions. Policyholders can trust in the company’s reputation for delivering on its claims commitments.

Digital and Technological Features of Bloomington Compensation Insurance Company

Mobile App Features and Functionality

Bloomington Compensation Insurance Company understands the importance of digital convenience. Their mobile app offers a range of features and functionality designed to make managing your insurance policies effortless. Whether you need to access policy documents, file a claim, or simply stay updated on your coverage, the mobile app provides a user-friendly platform to meet these needs.

Online Account Management Capabilities

Managing your insurance policies online has never been easier. Bloomington Compensation Insurance Company’s online account management capabilities empower policyholders to have greater control and visibility over their coverage. From updating personal information to reviewing policy details, the online portal streamlines the insurance management process.

Digital Tools and Resources

In today’s digital age, access to relevant tools and resources can make a significant difference. Bloomington Compensation Insurance Company goes the extra mile to provide policyholders with valuable digital resources.

These resources can include educational materials, risk assessment tools, and insights into industry trends. By leveraging these digital tools, policyholders can make informed decisions and enhance their overall insurance experience.

Frequently Asked Questions

What types of insurance does Bloomington Compensation Insurance Company offer?

Bloomington Compensation Insurance Company provides a range of coverage options, including Workers’ Compensation Insurance, Liability Insurance, Property Insurance, and Business Interruption Insurance.

How does Bloomington Compensation Insurance Company compare to its competitors?

Bloomington Compensation Insurance Company competes with other industry leaders, each offering unique strengths such as tailored solutions, innovative approaches, and user-friendly platforms, providing businesses with a variety of options to choose from.

Can I get a quote online from Bloomington Compensation Insurance Company?

Bloomington Compensation Insurance Company doesn’t currently offer full online account management, they do provide avenues for obtaining quotes and connecting with their dedicated customer support to discuss your insurance needs.

Are there specific discounts for new businesses with Bloomington Compensation Insurance Company?

Yes, Bloomington Compensation Insurance Company offers New Business Discounts to help new clients ease into comprehensive coverage while benefiting from cost savings.

How do I determine the right coverage for my business with Bloomington Compensation Insurance Company?

Bloomington Compensation Insurance Company’s experienced representatives can guide you in selecting the right coverage options that align with your industry, size, and specific circumstances.

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Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Free Insurance Providers Comparison

Compare Insurance Providers Rates to Save Up to 75%

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