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The Electric Insurance Company was founded back in 1927 under the name “Electric Mutual Liability Insurance Company”. The company was originally founded by GE (Massachusetts) as a means for providing workers’ compensation insurance to all of its businesses. In the year 1966, the name was officially changed over to the Electric Insurance Company in order to reflect the fact that the company had grown beyond workers’ compensation policies.
During the 1990’s, the insurer was one of the first companies to offer free insurance quotes for their potential clients online. They also worked very hard over the years in order to establish stellar call centers, customer service practices, and positive claims resolution. And their hard work paid off in 2001 when they earned a Torch Award for their excellent business practices. They also became licensed in Canada and the EU during the same decade. Today, the company handles $450 million in premiums annually and continues to win multiple customer service awards and high ratings from insurance-rating agencies.
Although the company name might make you think that the company originally started in order to provide insurance for electric car. This is actually not the case. Their true origin actually stems from the General Electric company (GE). Back then, GE needed a way to supply its Massachusetts employees with workers’ compensation insurance. And after several years of financial success, the company saw impressive expansion in the 1950’s.
According to the BBB (Better Business Bureau), The Electric Car Insurance Company has earned itself an A+ rating. Electric has also earned the Customer Service Department of the Year award bestowed by the American Business Awards. They have also earned a rating of “Excellent” from A.M. Best.
Today, The Electric Auto Insurance Company is proud to offer its customers the following forms of coverage:
In addition The Electric Car Insurance Company offers several unique options which most of their competitors don’t. For example, Electric is willing to offer its customers 12 month car insurance policies instead of the industry standard 6 month policy. This reduces the hassle and paperwork required to renew a policy every six months, and Electric is able to pass those savings on to their customers with lower premiums.
The excellent reputation of the Electric Auto Insurance company originated from the GE employees themselves. So many employees who were also policy holders liked the insurance benefits so much that relatives and friends of GE employees were demanding to get in on the action. So, in an effort to satisfy all, the company expanded its business into private insurance coverage around the 1970’s.
More than 50% of the Electric Insurance company’s customers come from non-GE employees presently. In addition, the claims department earned a “Customer Service Department of the Year” award from the American Business Awards. Also, the BBB (Better Business Bureau) has rated them A+ while A.M. Best similarly ranks them as an “Excellent” company.
Claims-free years discount
GE employee discount
Newer homes discount
Extensively renovated homes (NJ) discount
Length of tenure with Electric Insurance Company discount
Fire alarm discount
Burglar alarm discount