Benchmark Auto Insurance Review (2020)

Benchmark auto insurance operates as a reinsurance company that sells insurance to other insurance companies. Benchmark is licensed to do business in 49 states and the District of Columbia. To compare auto insurance quotes from top auto insurance companies, enter your ZIP code below.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like and Safeco. He reviews content, ensuring that ex...

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Oct 10, 2020

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Company Details
Address: 100 Lake Street West
City: Wayzata
State: MN
ZIP Code: 55344
Phone Number: 800-283-0622
Year Founded: 1964
AM Best Rating: A-
Company Rating 0 (0 reviews)

Benchmark Auto Insurance Summary
Benchmark Auto Insurance FactsDetail
Address100 Lake Street West
ZIP Code55344
Phone Number800-283-0622
Year Founded1964
AM Best Rating: A-
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We understand that finding cheap auto insurance can be a bit of a hassle. This Benchmark auto insurance review will help make sure the company is the right insurance provider for you.

In the meantime, type your ZIP code into the tool above to find reasonable auto insurance rates in your area.

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Benchmark Insurance was incorporated in 1964. Since then, it has expanded to offer many different forms of coverage for many different industries.

Let’s see where you can get coverage from Benchmark.

What is Benchmark’s availability by state?

Benchmark has its headquarters in the state of Minnesota but is part of the Trean Corporation, which also has branch offices in Las Vegas and Kansas, and satellite offices in Costa Mesa, California, and Brookfield, Connecticut.

As of now, Benchmark is licensed to do business in 49 states and the District of Columbia.

Let’s move on to look at what this company offers its clients.

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Benchmark Auto Insurance Coverages Offered

Among other things, Benchmark offers aircraft coverage.

There are several ways to insure an aircraft, yourself, and passengers, even if you don’t personally own a plane.

Certified flight instructors have the option of acquiring owned aircraft coverage or non-aircraft coverage.

If you’re a plane owner, as with classic car auto insurance, the way you store your aircraft is important. If you own a hangar, it’s critical to have coverage on the hangar, which also has different variations of coverage.

Safety additions such as sprinkler installations or air traffic control towers make a difference in your premiums, as do on-site fire departments.

Aircraft traders buy and sell planes, so they only need short-term coverage for each aircraft they possess. They often opt to acquire standard coverage that can be modified with each purchase.

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Business aviation is different in that it covers all passengers whether they have their own travel insurance or not. Many companies provide travel insurance for their frequent business travelers.

If you’re traveling as a passenger in a personal aircraft, it may be a good idea to acquire your own coverage before you travel.

Flying club aircraft coverage is another form of group coverage. These clubs may own different forms of aircraft, so they carry long-term group policies, which may involve group premiums. In a group situation, the premiums will hinge on the group’s accident history.

Although flying may be considered safer than driving, life insurance or accidental death and dismemberment is encouraged. Pilots save on their premiums by combining their life policy with the policy they hold for the aircraft itself.

Benchmark agents are trained to assist you in the proper type of coverage for your particular flying needs.

Commercial airplane coverage is available in many forms and depends on the type of business you operate.

Commercial airplane policies range from insuring puddle jumpers to jumbo aircraft owned by major airlines. A commercial aircraft policy will involve steeper liability than a personal airplane or jet.

Although your personal jet may carry other passengers for the ride, the capacity or number of passengers makes a difference.

A major airline may be required to carry policies amounting in the millions. A passenger liability policy may start at one million and have a cap of five million for a single incident.

In most cases, no one insurer covers a commercial aircraft, and that is where the Trean Insurance Company takes over for Benchmark.

Benchmark, or BIC, carries a stop-loss clause in its policies that limits the amount of monetary loss or risk before Trean picks up the difference. This is a perfect example of reinsurance in action.

Commercial airline coverage is complex; it may be categorized as in-flight coverage and ground coverage. Ground coverage can be divided into  ground coverage in motion and not in motion.

Benchmark also offers aviation property damage coverage.

If a plane damages property on the ground, the process is similar to auto liability insurance. To minimize the risk, third-party insurance is made part of the base policy, which covers public liability.

Oftentimes these cases are determined in court rather than by the insurers.

Liability for aircraft must include some international standards for claims. The Warsaw Convention, established in the 1920s, set the bar for the standards airlines follow today.

Whereas most major airline insurers are based in Europe, Benchmark is qualified to handle everything from your auto to aviation policy needs.

Let’s see if Benchmark offers bundling options.

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What are Benchmark’s bundling options?

Despite the availability of worker’s compensation insurance, property and casualty insurance, accident insurance, and health insurance, no bundling options are listed on Benchmark’s website.

Still, if you speak to a Benchmark agent, this would be something to ask about.

What are discounts offered by Benchmark?

Unfortunately, Benchmark does not advertise any specific discounts either. Let’s see if this company offers any special programs.

What programs are available from Benchmark?

In addition to its primary lines of business, Benchmark has a number of programs that operate regionally or in specific states, depending on the program.

For clarity, Benchmark’s primary lines of business are property and casualty insurance, workers’ compensation, and accident & health insurance. Here’s a video explaining workers’ compensation.

And, now, take a look at another video explaining property and casualty insurance.

Benchmark states that its programs are tailored for niche areas so as to allow partners to utilize their own areas of expertise. Benchmark works with a lot of different industries.

First up is the hospitality industry — think insurance for hotels.

Let’s take a look at a video explaining part of what a hospitality insurance program is.

They also serve the healthcare industry, the construction industry, the manufacturing industry, the recreation industry, and the retail industry.

Let’s move on to look at the policy cancellation process with Benchmark, should you need to do that.

Canceling Your Benchmark Auto Insurance Policy

There are several ways to contact Benchmark. First off, Benchmark Insurance’s phone number is 1-800-283-0622.

There is also a page where policyholders can ask questions on Benchmark’s website. With that being said, there is no specific information available about the cancellation process, so your best bet if you need to cancel is to simply call them.

Is there a cancellation fee?

As there is no information regarding cancellations, there is no information regarding cancellation fees.

Is there a refund?

Unfortunately, the same applies here. It most likely depends on your industry and which Benchmark partner you are working with.

How do you cancel?

You can call them using Benchmark Insurance’s phone number, which is 1-800-283-0622, fax them at 1-952-542-5381, or fill out the contact form online. You can also contact them at the Benchmark Insurance address, which is 150 Lake Street West, Wayzata, MN 55391.

When can I cancel?

No information is given on time-related stipulations.

How to Make a Benchmark Auto Insurance Claim

The company states on its website, it works with third-party administrators (TPAs) to provide comprehensive claims services, i.e., claims submission to the Benchmark Insurance claims department.

On the website you can also find a portal for Benchmark administrators careers and a portal for Benchmark Insurance Company bill paying.

When you begin a policy with Benchmark, you’ll be able to find your specific claims office’s information.

There’s also a section on the same page that allows policyholders to enter the following information to submit a question regarding a claim:

  • First Name
  • Last Name
  • Phone Number
  • Email
  • Claimant’s Name
  • Claim Number
  • Type of Policy
  • State in Which Policy Was Issued
  • Policy Number
  • Your Message

Let’s move on to how Benchmark is seen in the eyes of insurance rating companies.

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Benchmark Auto Insurance Ratings

The best bet when looking for Benchmark auto reviews is A.M. Best, a rating agency that judges the financial standing and operating performance of companies in the insurance industry.

Benchmark Insurance Company’s review from A.M. Best is an “Excellent” Rating of A.

A.M. Best has been giving ratings for Benchmark Insurance Company for over 25 years, with its initial rating date being April 24, 1995. The company’s most recent rating was on May 28, 2020.

Let’s take a look at A.M. Best’s ratings for some other insurance companies.

A.M. Best Ratings for Auto Insurance Companies
Insurance CompaniesA.M. Best Rating
Berkshire HathawayA++
State FarmA++
United ServicesA++
Allstate InsuranceA+
Mercury GeneralA+
CSAA InsuranceA
Farmers InsuranceA
Liberty MutualA
Auto Club EnterprisesA-
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As you can see, Benchmark is in some seriously good company. An A rating for Benchmark Insurance from A.M. Best is nothing to scoff at.

Let’s take a look at a table showing the history of Benchmark’s A.M. Best financial strength ratings.

Benchmark Insurance's A.M. Best Financial Rating History
Effective DateA.M. Best Rating
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As you can see, they’ve been well-reviewed for at least the past five years. Now let’s take a look at the last five years when it comes to A.M. Best’s analyzation of the health of a company’s future, the Long-Term Issuer Credit Rating.

Benchmark Insurance's A.M. Best Outlook Rating History
Effective DateA.M. Best Outlook Rating
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Here, too, Benchmark has been well reviewed for the past five years, which is quite impressive. Now, it’s time to wrap up.

Benchmark Auto Insurance Review: The Bottom Line

Before we wrap up, let’s review some info on the history of Benchmark and some fun facts.

Key Facts About Benchmark Insurance
Benchmark Insurance FactsSource
Benchmark is a carrier in 49 states and the District of
Their management team contains design, implementation and management
Benchmark has the goal of maximizing your control over your
Benchmark collaborates to build strong programs for their
Benchmark is an independent
Benchmark makes it a prerogative to build lasting relationships with its
Benchmark has specialty programs for the retail, recreation, healthcare, and hospitality industries among
Benchmark offers accident and health
Benchmark offers Property and Casualty
Benchmark offers workers'
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If you’re looking to insure your business and Benchmark Insurance Company covers your field, you could do far worse. We recommend the company. Consider contacting one of Benchmark Insurance’s brokers.

Now that you’ve finished this Benchmark auto insurance review, type your ZIP code into our helpful tool below to find affordable car insurance quotes right now.

Frequently Asked Questions: Benchmark Auto Insurance Review

Hopefully we have covered everything, but just in case, feel free to review some common questions below.

#1 – Is Benchmark Insurance Company the same as Benchmark Insurance Group or Benchmark Insurance Agency?

No, these are all different companies.

#2 – Does Benchmark have auto gap insurance?

There is no reference to auto gap insurance listed on this company’s website.

#3 – What is Benchmark Insurance craft insurance?

Benchmark provides coverage to the craft brewing industry.

#4 – Is Benchmark Insurance in California, Utah, or Tulsa, OK?

Benchmark Insurance operates in all three of these states.

#5 – What is a Benchmark Insurance plan?

This is coverage offered by the company for your business.

#6 – What is the average increase for a Benchmark Insurance plan?

It depends on where you live and what industry you’re in. Make sure to ask your agent.

#7 – Who owns Benchmark Insurance company?

Trean Insurance Group owns Benchmark Insurance Company.

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