Is Preferred Mutual Auto Insurance Good for New York Drivers?
Last Updated on February 27, 2021
As a driver in New York, you’ll always want to make sure you have a reliable auto insurance plan. With so many different insurers on the market to choose from, it can be challenging to find the best ones for your needs. Preferred Mutual is a local insurance company based in the small town of New Berlin. In this article, we’ll take a look at Preferred Mutual’s auto insurance offerings to see if they’re a good option for New York drivers.
About Preferred Mutual
Preferred Mutual has been in business for over 120 years. They started off as the Preferred Mutual Fire Insurance Company of Chenango County and was fully owned by their policyholders. Later, the company expanded to offer a wide range of car, home, and business insurance. In addition to their coverage in New York State, they also offer coverage in New Jersey, New Hampshire, and Massachusetts.
| Preferred Mutual Company Information | |
|---|---|
| Address | 1 Preferred Way New Berlin, NY 13411 |
| Phone Number | 800.333.7642 |
| customerservice@preferredmutual.com | |
| Website | https://www.preferredmutual.com/ |
What Types of Coverage Does Preferred Mutual Offer?
Preferred Mutual has a basic suite of coverage options available for their clients. You’ll find all the liability coverage you need to meet New York’s legal requirements, as well as a variety of additional coverage options.
This includes medical payments and personal injury coverage, which can cover the cost of medical treatment for you and your passengers after an accident. They also have uninsured motorist coverage, which will provide necessary financial coverage if you are hit by someone who doesn’t carry insurance or doesn’t have enough insurance to cover the damages. Finally, they offer collision and comprehensive coverage, which will ensure you’re covered in any type of collision, or if your car is damaged by weather, vandalism, or another external source.
Preferred Mutual also offers a few forms of supplemental coverage for things like towing and rental car reimbursement after you get into an accident. When compared with other insurers, Preferred Mutual doesn’t offer very many different types of add-on coverage.
Preferred Mutual also offers many other types of coverage outside of car insurance. This includes insurance for boats, snowmobiles, and motor homes, as well as insurance for homeowners, renters, and commercial properties.
In New York State only, Preferred Mutual offers a package called Premier Auto Endorsement. This is essentially a full bundle of coverage options at a discounted price. It includes special supplemental coverage types such as new vehicle replacement, part replacement, towing, and much more.
Does Preferred Mutual Offer Discounts?
Like many other car insurance companies, Preferred Mutual does offer discounts to help you save money on your insurance. Since Preferred Mutual has many other types of insurance beyond car insurance, you can save money if you combine your policies. You’ll also save money if you insure more than one car on the same policy.
Additionally, Preferred Mutual offers discounts for students. You may receive a discount if you are a high school or college student with a B grade point average or better. They also offer discounts for college students who are away at school and are not currently using their vehicles.
Finally, you can get discounts for driving safely. New drivers can take a driver’s training course to receive a discount, and experienced drivers can take one of New York’s state defensive driving courses to receive a discount. They also offer discounts for cars with safety features, such as anti-lock brakes, airbags, and anti-theft devices.
Although not technically a discount, they also offer an accident forgiveness program for customers with strong driving histories. This means that your rates won’t go up after your first accident.
What Are Preferred Mutual’s Rates?
Since Preferred Mutual is a smaller regional insurance company, they don’t have much information about their rates available online. You’ll need to contact an agent directly to get a quote. While they have a good selection of discounts, we can generally expect that Preferred Mutual’s rates will be higher than those of larger national providers.
However, every insurance provider has its own system for calculating rates. This means that Preferred Mutual could be an affordable provider for you, depending on your background and the type of insurance you need. This is why it’s so important to get quotes from several different companies before making a final decision.
What Is Preferred Mutual’s Customer Service Like?
Preferred Mutual uses an independent agent model to sell its products. This means you’ll need to use their online directory to find an agent near you in order to buy their car insurance. You also won’t be able to get a quote directly from their website. Once you have a policy, you’ll be able to contact your agent anytime you have any questions or concerns. They’ll also be able to help you file claims if you need assistance.
This model is great for anyone who wants a little bit more personal assistance when selecting and managing an insurance policy. However, it can be frustrating for those who prefer to manage their policy online with minimal interaction.
However, you can file a claim online if you need to. Their online customer service center has all of their claim forms readily accessible. You can then email them directly to the company, who will process them as soon as possible. They also have a toll-free phone number if you would prefer to speak to someone directly for claims processing. Since Preferred Mutual is a smaller company, they may not process claims quite as quickly as some of the larger national companies.
There are very few complaints about Preferred Mutual on the Better Business Bureau site. They also have an A+ rating from the BBB. The company responds directly to their customer reviews on other sites like Google, which shows that they really care about customer satisfaction.
The company also has an ‘A’ rating from AM Best. AM Best is a company that rates the financial strength of insurance companies. An A rating is strong and indicates that the company will be able to pay its claims regardless of the current economic climate.
Final Thoughts on Preferred Mutual
Overall, Preferred Mutual seems to offer reliable coverage for a small, regional insurance company. They have plenty of discounts available and are committed to good customer service with their direct agent model. However, their coverage options aren’t very comprehensive, and they don’t have the option to get a quote or manage your policy online. When shopping for a new car insurance policy, it’s always best to get quotes from several different companies to see which one is able to offer you the most affordable coverage.
