Zurich Commercial Insurance is a company that says they are passionate about risk management, which seems like a fitting mission for an insurance provider. A global company that has offered property-casualty insurance in over 210 countries and territories for almost 150 years, Zurich strives for their customers to understand, manage and minimize risks. Because Zurich operates in such a wide variety of locations, pricing varies from region to region. In general though, you’ll be able to shop for coverage under property, casualty and cyber categories when seeking insurance plans through Zurich.
Zurich Commercial Insurance Pros and Cons
If you’re considering Zurich, you’ll likely have to weigh the pros and cons when making your decision. Take a look:
AdvisorSmith Rating For Zurich Commercial Insurance
- Overall rating: [3.2] / 5 stars
- Coverage options:  / 5 stars
- Cost:  / 5 stars
- Ratings and complaints: [3.5]/ 5 stars
- Digital experience:  / 5 stars
- Customer service: [3.5] / 5 stars
Zurich Commercial Insurance Coverage Options
Zurich’s comprehensive range of products includes property, casualty and cyber types of insurance and should be able to meet most of your insurance and risk management needs. Zurich claims to offer broad solutions to meet a firm’s needs for its entire portfolio of business including:
- Commercial Property: Offers protection for your financial interest in your building, equipment, stock and other assets.
- Commercial Casualty: Coverage to address loss from injuries to people and/or damage to their property, and the legal liability arising from accidents.
- Workers’ Compensation: Protects employees from costs of work-related injuries and shields employers from claim costs.
- Commercial Fleet: Includes auto liability and physical damage coverages.
- Cyber: Protects against computer-related crimes and losses, and the impacts of threats like ransomware, malware and data breaches.
- Umbrella: Zurich’s Umbrella coverage offers protection against catastrophic liability claims that may exceed the policy limits of the primary Commercial General Liability coverage.
- Energy Industry Insurance: Tailored onshore and offshore energy-property solutions, including All-risk Physical Damage, Construction and Builders’ Risk, Mechanical Breakdown and Business Interruption, Loss of Production Income, and Operator’s Extra Expense (Control of Well insurance).
- Excess & Surplus: Coverage for specialized and complex risks traditional insurance does not cover.
- Management Liability: Protection for companies and their executives from the risks associated with doing business in today’s complex marketplace.
- Marine: Protection against financial impacts due to the loss or damage of equipment or goods being transported. With Zurich, marine premiums are typically $25K for an open cargo policy.
- Surety: Credit instruments providing financial and performance guarantees in a contract.
Zurich Commercial Insurance Cost
It’s not uncommon for the cost of insurance coverage plans to vary from business to business–and that’s definitely the case with Zurich. The provider does not offer much insight around plan cost outside of the factors that they say can impact it including:
- Owned or leased Number of employees
- Years in business
- Type of business or industry
- Gross annual revenues
- Business vehicles (owned or leased)
- Coverages needed – Property, Liability, Workers’ Compensation, Crime, Cyber, Business Interruption, etc.
Zurich Commercial Insurance Ratings and Complaints
According to their website, Zurich’s financial strength ratings are among the strongest in the industry, with an A+ rating from A.M. Best and AA/Stable from Standard & Poor’s. Further they seem to perform really well within the contracting industry. In fact, over 85% of the top 100 contractors choose Zurich for insurance protection and over 90% of Zurich’s Construction Risk Engineering customers would recommend Zurich.
As far as reviews that can be found off of their own site and out in the wild, a car insurance customer reported a rave to the Better Business Bureau:
“If I could give more than five stars, I would. Zurich has been AMAZING to work with. Sometime last year, my ’16 Fusion had a cracked cylinder and was leaking coolant into a cylinder or two. They covered EVERYTHING! All I had to pay was my $100 deductible. Fast forward to today, I found out my transmission needs to be replaced. Guess what? Zurich is covering EVERYTHING and I just have to pay my $100 deductible. In both instances, I simply gave their phone number to the **** dealership and they took care of the rest. No effort on my part.They have saved me a lot of money and make me feel at ease. I highly recommend them.”
Still, there were plenty of one-star ratings in contrast, including a recent review from a non-policy holder:
“Awful company that doesn’t respect the person who got hit by the person at fault and doesn’t provide car repair or rental. They ignore calls and emails and leave you hanging. Worst insurance company ever.”
Zurich’s Digital Experience
Zurich’s website is not as user-friendly as other insurance providers. You should probably come to them once you already know what you need, that might help you better navigate the various options. You can browse options through Product and Services, which allows for you to enter your location and desired insurance type as a way of getting started.
Zurich Commercial Insurance Customer Service
Receiving a quote may be a process that is easy enough from start to finish. So you may make it through the onboarding part without having to contact customer service. But what about when you have to file a claim–or worse yet encounter an unforeseen issue with your policy?
One BBB user relayed their aggravations with Zurich:
“Very disappointed with the customer service offer[ed] to their existing customers. The #ZurichUK office has contacted me to surrender my active policy, even though I had written confirmation via email that my policy would be “active” and I would have international coverage. I had to bear the consequences and surrender my policy, and they didn’t return my money for the active policy they asked me to cancel. Fast forward 2.5 months later, and I am still sending countless reminders to their customer [service] paying for international calls just for follow-ups. NO answer from #zurich! I am astonished and warn you to be careful before selecting this #insurance company and their service.”
And unfortunately, there are more reviews similar to this one than not.
Other Services and Features That Zurich Commercial Insurance Offers
Zurich puts their risk mitigation benefits up front and they have 9,600+ claims professionals and 800+ risk engineering professionals in 40 countries to back it up. Further because of their expansive global network, Zurich’s partnerships allow for unique add-ons. For example, the Resilience Solutions (ZRS) in North America partnered with Work Shield to offer customers a technology solution that can help them combat toxic work cultures and improve employee retention. So in some ways, Zurich does seem to go above and beyond your run-of-the-mill insurance offerings.
What Is Zurich’s Claims Process?
Zurich’s North America branch has a claims destination page. Here you can choose your insurance option and report a claim. You can also call their Care Center which is available to users 24/7.
How to Get Quotes From Zurich Commercial Insurance
To get a quote from Zurich, you’ll have to find a Zurich Preferred Distributor or Agent. You can do so by searching your location on their website. Members of Zurich’s Preferred Distributor Program are considered exceptional distributors who share a deep commitment to customers and have a thorough knowledge of Zurich’s products and services.
Bottom Line: Is Zurich a Good Company?
One way to answer this question would be with the phrase, “Bigger isn’t always better”. And the other way to answer this question could simply be that for some, “Bigger is better.” If you have a good understanding of your insurance needs and truly care and want to invest in risk mitigation, Zurich could be a great fit. Zurich has been around for a long time and is a company that is trusted and used around the world.
Alternatives to Zurich Commercial Insurance
Zurich is unique in that they position their risk management services as their main offering, even more so than the actual coverage packages. They are a big, global provider that offers varying coverage options, but it can be difficult to truly assess where to start if you haven’t already been through this process before.
If you think that you’d better respond to an insurance company with more of a personal touch, take a look at State Farm. This insurance provider has more of a local feel in comparison to Zurich. Some may find the global reach attractive, but others may think that makes them a bit out of touch with their everyday needs.
And if you’re really unsure of what you need, give CoverWallet a try. Unlike Zurich and State Farm, CoverWallet acts as an aggregator of insurance options. You’ll work with an agent who can help assess your particular needs and they will advise you on your best options based on the quotes you receive back.