Electric Auto Insurance

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Company Details
Address:

75 Sam Fonzo Drive

City:
Beverly
State:
Massachusetts
ZIP Code:
01915
Phone Number:
1-800-227-2757
Year Founded
1927
AM Best Rating:
A
Company Rating 0 (0 reviews)

Things to Remember...
  • The Electric Insurance Company began as the Electric Mutual Liability Insurance Company in 1927
  • The Electric Mutual Insurance Company formed the Electric Insurance Company in 1966 as a way to provide home and auto insurance to General Electric employees
  • The Electric Insurance Company offers multiple types of insurance options including auto insurance, home insurance, condo insurance, tenants insurance, and umbrella insurance

This review is of the Electric Insurance Company. This company provides multiple types of personal insurance products. Along with an “A” (Excellent) rating from the A.M. Best Company, this insurance provider has received other honors.

Some of the other honors the Electric Insurance Company has received include an A+ rating from the Better Business Bureau and winning the American Business Award for the Customer Service Department of the Year.

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Electric Insurance Company History

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The Electric Insurance Company began as the Electric Mutual Liability Insurance Company in 1927. The company was originally formed by General Electric, more commonly known as GE, as a way to provide workers compensation insurance to its employees in the state of Massachusetts.

The company continued its relationship with General Electric well into the 1950s as it started to write more of its business insurance throughout the country.

The Electric Mutual Insurance Company formed the Electric Insurance Company in 1966 as a way to provide home and auto insurance to General Electric employees.

The company began offering these home and auto insurance policies to the general public in the 1970s.y, LLC, which writes insurance in North America and Canada, and Electric Insurance Ireland Limited, which is licensed to do business in Europe.

Electric Insurance Company Products

The company offers multiple types of insurance options, including auto insurance, home insurance, condo insurance, tenants insurance, and umbrella insurance.

The types of coverage offered with the company’s auto insurance plan include:

  •  Bodily injury and property damage liability coverage
  • Uninsured and underinsured motorist 
  • Bodily injury and property damage coverage
  • Personal injury protection coverage
  • Comprehensive and collision coverage
  • Medical payments coverage
  • Rental reimbursement coverage
  • Towing and labor coverage
  •  Gap coverage

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The Electric Insurance Company also offers multiple auto insurance discounts.

These discounts include:

  • General Electric employee discount
  • An Elfun member discount
  • An accident-free discount
  • Passive restraint discount
  • Anti-theft device discount
  • Antilock brake discount
  • Multi-policy discount,
  • Married status discount
  • good student discount

The company also offers an extensive emergency roadside assistance service.

This program offers services such as towing, jump starts when the policyholder has a dead car battery, assistance when locked out of the car, fuel delivery for up to two gallons of gas when stranded, and flat tire assistance.

Electric Insurance Company Careers

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There are many benefits and perks that come with being an Electric Insurance Company employee.

Some of these benefits include:

  • health insurance
  • dental insurance
  • vision insurance
  • basic life insurance
  • a 401 (k) retirement plan
  • a flexible spending account
  • special discounts on personal excess liability insurance, as well as home and auto insurance
  • a tuition reimbursement program; paid time off; and fitness centers on site.

Unlike a lot of companies, the Electric Insurance Company does not require a probationary period before granting its employees access to company benefits.

All health, dental, and vision insurance coverages begin on the first day the new employee begins work with the company. All of these insurance programs also allow associate contributions to be made before taxes.

The flexible spending account allows the employee to contribute as much as $5,000 to healthcare expenses and as much as $5,000 to the dependent elder of childcare expenses, all before taxes and account reimbursement is typically tax-free.

This flexible spending account is named General Electric Health Care and Dependent Care Reimbursement Account Plans.

With the basic life insurance plan offered by the Electric Insurance Company, the employee is covered for two and a half times their annual salary in the event of death.

In the case of an accidental death, the employee is covered for up to three and a half times their annual salary. The employee does not have to sign up for this life insurance coverage: It is an automatic program and paid for 100 percent by the company.

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