Bankers Insurance Group Review 2025
Written by
Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.
Reviewed by
Cara Carlone is a licensed P&C agent with 20 years of experience. She has her P&C license in RI and TX and holds CPCU, API, and AINS designations.
Trusted Choice's Bankers Insurance Group Score
3.25 Stars
We award Bankers Insurance Group a final rating of 3.25 out of 5 stars. The carrier’s history and high rating through the Better Business Bureau (BBB) solidifies its place as a worthy contender within the insurance industry. However, it has a notably lower rating through AM Best than many other modern companies and is not BBB-accredited.
While coverage is offered nationwide, many products are only available in certain states, making options limited in the rest of the country. Customer feedback is mixed across the board, with many glowing reviews alongside quite a few dismal reviews.
Bankers Insurance Group was founded in 1976, giving it nearly 50 years' worth of experience, and has been ranked as a stable insurance carrier. Its headquarters are in St. Petersburg, Florida. The carrier’s official website could use a redesign, though it does allow customers to get matched with an agent online and file claims 24/7 by phone.
While we’re not ready to say that Bankers Insurance Group is up there with the best of the best, it's also far from the worst or even being considered a poor choice. If the carrier offers the coverage you’re looking for in your state, don’t write it off as a good option to review with your independent insurance agent.
Bankers Insurance Group 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.
Bankers Insurance Group Products by Type
Bankers Insurance Group offers different coverages depending on the state selected, including standard and specialty insurance. Its products include:
Commercial Insurance:
Personal Insurance:
- Residential flood insurance
Bankers Insurance Group Business Owners Policy Insurance
Bankers offers the standard coverages you'd expect to find bundled together in a business owners policy (BOP), including commercial property, commercial general liability, and business interruption insurance. The carrier's BOP insurance also comes with coverage for the following:
- Valuable papers and records
- Accounts receivable
- Employee dishonesty
- Money and securities
- Newly acquired or constructed property
- Outdoor property
- Personal property off-premises
- Attached signs
Some additional coverages and policy features are detailed below.
Coverage types, features, and benefits:
Arson reward
Bankers offers a reward for information that leads to a successful arson conviction.
Automatic seasonal increase
Bankers increases its BOP personal property coverage by 25% automatically during peak inventory periods.
Depositors forgery
Bankers' BOP insurance also covers business losses due to the forgery or alteration of outgoing checks, promissory notes, and drafts.
Bankers Insurance Group BOP Insurance Average Prices
Bankers does not provide average pricing information for its BOP insurance. Interested customers can be connected to an agent via the carrier's website. An independent insurance agent can also help you obtain quotes from Bankers. Until then, you can get a better idea of how much BOP insurance might cost you by checking out our business insurance calculator.
What Discounts Does Bankers Insurance Group Offer?
Bankers does not make information about its coverage discounts readily available. An independent insurance agent can help you find more information about specific discounts and cost savings opportunities available from Bankers Insurance Group.
Bankers Insurance Group Customer Service
Bankers allows customers to file claims over the phone or online through the Consumer Portal. The carrier also provides the following customer service options:
- Phone
- Snail mail
- Claims assistance via text messaging
- Online match with an agent service
- 24/7 phone claims reporting
- Customer service phone department does not list its specific hours.
| Days | Hours (EST) | ||
| Not Specified | Not Specified |
Bankers Insurance Group sells insurance through a wide network of agents, including independent insurance agents. These agents can help make customer service easier for you by handling claims and other concerns.
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Bankers Insurance Group FAQs
Bankers does not list a specific claims response time frame promise. However, the carrier states that if a customer files a claim through the online portal, it will begin processing immediately.
Bankers offers two phone lines, one for general customer inquiries and one for claims filing. The carrier does not provide specific hour restrictions for their customer service availability on their official website. However, the claims reporting phone line is available 24/7.
Bankers allows customers to file claims online or over the phone. The carrier details how to file, but does not detail its exact claims process on the official website.
Bankers’ website is not the best, but not the worst, when compared to other modern carriers. However, customers can file claims and get matched with an agent online. Bankers has a social media presence on Facebook, X, Instagram, YouTube, and LinkedIn, but these links are not provided on the official website. Overall, Bankers falls a bit short in the user-friendliness department.
Bankers has an excellent rating from the BBB, but is not accredited by the organization. The carrier has a good rating from AM Best, but it's below many other modern carriers' ratings. Bankers is licensed nationwide, but not all products are available in every state. Overall, it may be up to individual interpretation if Bankers can be considered a good insurance company.
Bankers provides many additional coverages in its BOP insurance. Additional coverage is offered for forgery, money and securities, employee dishonesty, personal property off-premises, and more.
Bankers' insurance products may be right for customers in search of a BOP, builders risk insurance, or commercial or residential flood insurance. You'll have to check to make sure coverage is available in your area.
https://bankersinsurance.com/
https://ratings.ambest.com/companyprofile.aspx?ambnum=3683&AltNum=22923683
https://www.bbb.org/us/fl/saint-petersburg/profile/insurance-companies/bankers-insurance-group-inc-0653-16051