Merchants Insurance Group Review

  • With 1.5/5 stars in 2024, Merchants is a poor insurance company.
  • Read Merchants reviews, complaints and prices before you buy.
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Renata Balasco

Senior Content Strategist

  • Licensed Insurance Agent — Property and Casualty

Renata joined The Zebra in 2020 as a Customer Experience Agent. Since 2021, she has worked as licensed insurance professional and content strategist.…

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Kristine Lee

Insurance Analyst

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Kristine is a licensed insurance agent who joined The Zebra in 2019 as an in-house content researcher and writer. Before joining The Zebra, she was a…

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Ross Martin

Insurance Writer

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Ross joined The Zebra as a writer and researcher in 2019. He specializes in writing insurance content to help shoppers make informed decisions.

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Merchants Insurance Group: Ratings and reviews

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Rating from The Zebra Question mark icon

Merchants Insurance Group is a regional insurance company that offers car insurance to residents of MA, MI, NH, NJ, NY, OH, PA and VT. While the company offers more products for businesses, individuals can acquire personal auto, homeowners and umbrella through Merchants Insurance Group.

In this review, we provide an impartial look at what it offers so potential customers can make informed decisions.

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1.5 stars Rating from The Zebra
Ratings based on price, customer service, coverage, and financial strength.
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  • Local agents provide personalized service

  • Extra coverage options available

  • An impressive list of discounts for a company of its size

  • No online quoting

  • Lack of digital tools

  • Limited state availability

Is Merchants a good insurance company?

Third-party ratings offer insights into Merchants Insurance Group's performance in customer service, claims satisfaction, and financial stability:

BBB Customer Reviews: 1/5

  • Merchants has a 1/5 rating from Better Business Bureau customers[1]

Complaint Index: Above average

  • The National Association of Insurance Commissioners (NAIC) recieves Above average customer complaints for Merchants Insurance Group[2]

Financial Strength: Excellent/Good

  • Merchants received an Excellent/Good financial strength rating from A.M. Best for its ability to pay out claims[3]

The Zebra Customer Satisfaction Survey

In addition to third-party ratings, we like to incorporate the results from our own consumer survey where we ranked which insurance companies are the best based on feedback from real customers. However, we did not collect a sufficient amount of data on Merchants Insurance Group for it to be included.

How much does Merchants Insurance Group cost?

Information on Merchants INsurance Group average premiums is limited, which makes it hard to provide an accurate review and calculate a fair rating.

The cost of Merchants Insurance Group car insurance can vary based on factors such as your driving record, location and vehicle type. For the most accurate pricing, obtaining personalized quotes is recommended.

Discounts offered

Merchants Insurance Group offers several discounts for eligible policyholders, including:

  • Multi-policy discount: For combining auto insurance with other Merchants Insurance Group policies.
  • Good student: Students who maintain good grades can qualify for this discount.
  • Paid in full: If you choose to pay your full premium at the start of your policy, it can earn you a significant discount.
  • Anti-theft devices: Vehicles with devices that discourage theft are eligible for this discount.
  • Defensive driver discount:  Drivers who have completed an approved defensive driving course can save on their premiums.

Read more about Merchant's discount options here.

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What types of coverage does Merchants offer?

Merchants Insurance Group provides a variety of coverage options, including liability, collision and comprehensive. Some unique offerings include:

  • Roadside assistance: Emergency services like towing, fuel delivery and flat tire repair are available.
  • OEM parts coverage: If your vehicle is damaged, Merchants will replace the parts with the original factory equipment.
  • Collision deductible waiver: If your vehicle is hit while parked and the damage exceeds your collision deductible, this coverage will kick in.
  • Replacement cost: If your newer vehicle experiences a loss, this coverage ensures that it will be repaired or replaced at today's value instead of actual cash value.
  • Trip coverage: This applies if you experience a loss while more than 50 miles from home and also covers emergency lodging while you await repairs.

Read more about Merchants' additional coverages here.

merchants logo

Additional lines of insurance

Merchants' primary insurance products are aimed at commercial policies, though it does offer a few personal lines of insurance:

Merchants Insurance Group review: Summary

Merchants Insurance Group offers basic coverage options, plus some endorsements and a fair number of discount opportunities. Prices are unknown and customer reviews are lacking, accounting for its low star rating. The Zebra cannot recommend this insurance company confidently based on the available information, but it is still possible that it could offer you a fair rate for basic coverage.

Methodology — how The Zebra reviews insurance companies

The team of insurance experts at The Zebra considers the company's standing in five main categories to come up with an overall rating. These metrics are weighted according to importance and are detailed below:

  • Price (20%): Using the base profile detailed below, we compared the company's average rate with the national average. If it surpassed this average, we gave a lower rating; if it fell below, we awarded a higher rating.
  • Coverage (20%): The highest-scoring companies offer a variety of coverage options, including bundling options, roadside assistance, telematics, beyond-basic coverage levels, and a variety of other coverage types.
  • Customer service (30%): We averaged ratings from JD Power, the NAIC complaint index to come up with a rating for the company's customer service. In instances when a company is not rated, we may use alternative rating agencies such as the Better Business Bureau and Trust Pilot.
  • Financial strength (10%): We use AM Best to determine a company's financial standing. In some cases when a company is not rated by AM Best, we may use an alternative measure such as Demotech.
  • The Zebra's Customer Satisfaction Survey (20%): The Zebra conducts an annual survey measuring customer satisfaction for many of the top insurance companies with the goal of ranking both the best auto insurance companies and best home insurance companies. Read more below.

For our auto insurance review, we analyzed more than 83 million insurance rates spanning every U.S. ZIP code using a sample user profile: a 30-year-old single male driver with a Honda Accord, good credit and full coverage at these levels:

  • $50,000 per person/$100,000 per incident for bodily injury liability
  • $50,000 per incident for property damage liability
  • $500 deductibles for collision and comprehensive coverage

For our home insurance review, rates are based on a sample user profile: a 45-year-old married homeowner living in a 2,500-square-foot single-story home built in 2011 with these coverage levels:

  • $200,000 for the dwelling
  • $20,000 for other structures
  • $100,000 for personal property
  • $100,000 for personal liability
  • $1,000 deductible

These sample premiums are dynamic and automatically refresh whenever the newest data is made available.

To generate pricing for particular rating factors, we adjusted this profile based on common pricing factors used by major car insurance companies. These factors include credit score, coverage level and others.

For The Zebra's Customer Satisfaction Survey, findings are based on an online quantitative survey of 4,134 current U.S. auto and home insurance customers, with Census-balanced sampling by age, gender and region. Categories with n=<20 responses are considered insufficient sample size and are not reported. This survey was developed by The Zebra and executed by independent research firm Maru/Blue in 2023.

Merchants Insurance Group: Frequently asked questions

Merchants Insurance Group is a good option for individuals who prefer working with local agents and value personalized service, especially if they are looking for extra coverage options and are eligible for the company's various discounts. However, it may not be suitable for those who prefer online quoting, digital tools or reside in states where the company has limited availability.

Merchants Insurance is available in Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania and Vermont.

Merchants Insurance is a well-established insurance provider ranked "Excellent" by AM Best. However, BBB customers rated it poorly and it received more than the average number of complaints as logged by the NAIC.

Merchants received strong ratings for financial strength from A.M. Best, an indicator of a company's ability to pay out claims. However, they were not included in J.D. Power's claims satisfaction survey and there is limited information from third-party reviews meaning there simply isn't enough information to determine customers' claims satisfaction with Merchants.

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About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
  • The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
  • The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.