Hiscox Insurance Company Review 2024
Written by
Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.
Trusted Choice's Hiscox Insurance Score
4 Stars
Our final Hiscox Insurance rating is 4.2 out of 5 stars. The insurance company has been around for more than a century and a quarter now, which is certainly respectable within the insurance industry. Hiscox has received very high ratings through AM Best and the BBB. Coverage is offered in 49 states, and their catalog is quite extensive, providing several coverage solutions for small businesses.
The insurance company provides online claims reporting, as well as online bill pay and request-a-quote services. Hiscox provides plenty of information about their coverage on their official website, as well as a specific claims response time frame and an outline of their claims process. Customers have raved about their experience with Hiscox, as is evident from the reviews page on the carrier's official website.
Our recommendation is that if you're in the market for small business insurance, go ahead and take a closer look into Hiscox Insurance with your independent insurance agent to be your next trusted carrier.
Hiscox Insurance Company Pros and Cons:
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To find insurance in your state, use our national insurance company directory to find the best company to meet your needs. You can locate insurance companies that specialize in your specific coverage needs and get connected to an agent near you.
What Type of Insurance Does Hiscox Offer?
Hiscox is a specialized insurance company, with a focus on small business insurance. Some of the top insurance products they offer include the following:
- General liability insurance
- Professional liability insurance
- Business owners policy
- Short-term liability insurance
- Cyber security insurance
- Workers' compensation insurance
Your independent insurance agent can help you find more information about the coverage offered by Hiscox, and help you decide if this insurance company is best for you. Independent insurance agents are experts in Hiscox small business insurance, Hiscox cyber insurance, Hiscox home insurance, Hiscox errors and omissions insurance, and the carrier's many other products, so they know exactly which type of coverage would work best for your needs.
What to Know about Hiscox
Hiscox Insurance was founded in 1901, giving the carrier almost 120 years' worth of experience in the insurance industry. The insurance company has grown to become a leading specialist insurer in the US. Today, Hiscox still focuses its efforts on providing insurance solutions for small businesses. Coverage is offered in 49 states across the country. The insurance company's LinkedIn profile states that Hiscox has between 1,001 and 5,000 employees, with nearly 2,400 of them found on the social media platform. As far as financial size, AM Best places the carrier in the $2 billion or greater category.
Thanks to its expansive history, financial strength, and far reach, Hiscox has earned a reputation as a stable insurance company with a positive outlook for the future. AM Best, the leading global credit rating agency monitoring the insurance industry, gives Hiscox an “A” rating, indicating the carrier is an excellent choice for insurance customers. High ratings from AM Best assure customers that Hiscox offers guaranteed, dependable coverage from an economically sound carrier.
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 balance sheet. For customers who are not as familiar with insurance companies’ respective reputations, AM Best’s rating system allows them to make an informed decision about who they can trust to meet their needs.
What Discounts Does Hiscox Offer?
Hiscox offers a few discounts for its customers, including the following.
- Small business discount: Offered to customers who are small businesses
- New customer discount: Offered to customers who have just switched their policy to Hiscox
- Refer a friend discount: Offered to customers who refer a friend to Hiscox
- Bundling discount: Offered to customers who purchase more than one type of coverage through Hiscox
An independent insurance agent can provide information about even more discounts as well as find premium quotes for coverage through Hiscox. When it comes to coverage, independent insurance agents work hard to help get you the most bang out of your buck.
Hiscox Customer Service
Hiscox offers several options for its customers to file claims, including online at any time. The carrier also provides the following customer service options.
- Online claims reporting
- Snail mail claims reporting
- Online bill pay and account management
- Free online quotes
- Customer service department available at the following hours.
| Hours (EST) | |||
| Monday-Friday | 7 am - 10 pm |
Hiscox business insurance phone number: 1-866-283-7545
The best way to guarantee a great customer service experience is to work with an independent insurance agent. Independent insurance agents can assist with handling claims and other matters for you, so you can relax and enjoy your coverage.
Use our insurance company directory to find the best insurance companies to meet your needs. Locate companies that specialize in your specific coverage needs and get connected to an agent near you.
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Hiscox Customer Reviews
We've compiled a handful of recent Hiscox Insurance reviews by customers for your convenience. These customer reports include Hiscox business insurance reviews, Hiscox general liability insurance reviews, and more.
| Trustpilot |
“Very easy process to purchase business insurance, site had all the information required." -11/29/22 |
| Trustpilot |
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“The process was straightward and quick. Not the endless questions as other insurers I tried or a dead end. Most don't even have a business like ours on their listing, fortunately you do.” -11/18/22 |
| Trustpilot |
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“Most friction-free business insurance process I've ever had frankly. The home and car insurance companies could take a leaf out of your book.” -11/15/22 |
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“I came across Hiscox when looking to compare quotes for business insurance. First to note is the easy to use website which explained everything in clear terms along the way and ensured the information handling was simple, quick and efficient. This was followed by a customer focused approach and value for money. In practical terms this translates to a low premium for a very comprehensive cover, a choice of interest fee payment options, and absence of admin fees, allowing mid-policy changes at no added cost. It made Hiscox an easy choice to make.” -11/11/22 |
| Better Business Bureau |
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“The BEST of the BEST. Truly a great ?? and wonderful company to do business with. Filed 2 claims in 1 year with each being successfully processed. This company is all about helping and supporting and nurturing small businesses. Thank You, Hiscox.” -12/20/21 |
Hiscox FAQs
Hiscox insurance claims reviews reveal that the carrier offers claims reporting through a couple of mediums, including online or over the phone. Hiscox does provide an official claims response time frame of 10-20 days. Hiscox encourages customers to file claims as soon as possible after an incident to get the fastest response.
Hiscox allows customers to file claims at anytime online, by phone during regular business hours, or by mail. Their customer service department is available at generous hours, Monday-Friday. The carrier’s social media presence extends across Facebook, Twitter, and LinkedIn, which makes them even more available to customers.
Hiscox offers a couple of options for claims reporting. The carrier's claims process is:
- Customer contacted within one business day: After a customer reports a claim, Hiscox emails them a reference number as well as emergency contact details if the claim is urgent.
- Claims rep assigned within two business days: Hiscox assigns a claims rep to the customer's claim within two business days.
- Hiscox reviews customer's coverage within 5-10 business days: Hiscox reviews the customer's coverage and checks if the claim is covered under their policy over the next several days.
- Final decision made within 10-20 business days: Hiscox reaches out to the customer within 10-20 business days with a final decision about if their claim is covered, as well as any reimbursement they're entitled to.
If customers have questions about filing or the claims process itself, they can contact the carrier via phone or get in touch with their independent insurance agent.
Hiscox’s official website is extremely user-friendly. The carrier provides plenty of information about their claims process and details a claims response time frame clearly for its customers. Hiscox also provides plenty of information about their small business coverage options. Online bill pay is available, as is 24/7 claims reporting via online, which are good, modern customer service features. So, Hiscox insurance company is excellent overall in terms of user-friendliness.
Hiscox focuses its efforts on providing quality coverage for small businesses. They offer several forms of important protection for their customers, including the following:
- Professional liability insurance
- Cyber security insurance
- Workers' compensation insurance
Hiscox ensures that small businesses are protected from every angle, from potential legal issues to employee injuries. Your independent insurance agent can help provide even more information about Hiscox's small business coverage.
With excellent ratings through AM Best and the BBB, and an extensive history within the insurance industry, Hiscox has certainly demonstrated its commitment to providing customers with quality insurance, as well as great service. Further, the carrier offers online claims reporting, has a strong social media presence, and solid financial strength. Hiscox can indeed be considered a good insurance company.
https://www.hiscox.com/
https://www.bbb.org/us/ny/new-york/profile/insurance-services-office/hiscox-inc-0121-123713/customer-reviews
https://www.consumeraffairs.com/insurance/hiscox-small-business-insurance.html?#sort=recent&filter=5
https://www.trustpilot.com/review/www.hiscox.co.uk?stars=5
https://ratings.ambest.com/CompanyProfile.aspx?ambnum=3030&AltNum=6523030