Preferred Mutual Insurance Company Review 2025
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She covers topics ranging from car insurance to healthcare costs.
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.
Preferred Mutual Insurance Company Final Score
4.5 Stars
Preferred Mutual, originally founded as the Preferred Mutual Fire Insurance Company of Chenango County, was first established in 1896. The insurance company offers a large catalog of insurance options for individuals and businesses, including auto insurance, homeowners insurance, umbrella insurance, commercial auto insurance, and more. The insurance company is headquartered in New Berlin, NY.
Today, Preferred Mutual has expanded to offer its products in four states, including New Hampshire, Massachusetts, New York, and New Jersey. Preferred Mutual distributes its products through more than 450 independent agent partners.
Thanks to its extremely long-standing history and wide selection of coverages offered for individuals and businesses, Preferred Mutual has become known as a financially sound insurance company with a strong outlook for the future. AM Best, the leading global credit rating agency monitoring the insurance industry, gives Preferred Mutual an “A” rating, indicating the carrier is an excellent choice for insurance customers.
We award Preferred Mutual Insurance Company a final rating of 4.5 out of 5 stars. Preferred Mutual has been in the insurance industry for nearly a century and a quarter, which is noteworthy. While coverage is only offered in four states, customers located in those areas have access to a large selection of personal and commercial insurance products.
Preferred Mutual offers 24/7 claims reporting, as well as features such as matching with an agent through its website. The carrier is highly rated by AM Best and the Better Business Bureau (BBB). Of course, we also love that the insurance company works with independent insurance agents to provide their customers with the best overall experience.
If you’re located in its service area, Preferred Mutual is an excellent option for your next trusted carrier. Talk to an independent insurance agent to learn more about this carrier's products.
Preferred Mutual Insurance Company Pros and Cons
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Preferred Mutual Products
Preferred Mutual offers a variety of insurance solutions for individuals and businesses.
Personal insurance
- Homeowners insurance
- High-value home insurance
- Equipment breakdown and service line insurance
- Secondary/seasonal home insurance
- Mobile home insurance
- Condo insurance
- Rented properties insurance
- Renters/tenants insurance
- New York auto insurance
- Massachusetts auto insurance
- Snowmobile insurance
- Boat and trailer insurance
- Motor home and RV insurance
- Personal umbrella insurance
- Valuable possessions insurance
- Above-ground pool insurance
- Identity fraud insurance
- Short-term rental insurance
Business insurance
- Commercial umbrella insurance
- Commercial auto insurance
- Commercial property insurance
- Commercial general liability insurance
- Commercial crime insurance
- Equipment breakdown insurance
- Business income and extra expense insurance
- Electronic data interruption insurance
- Commercial inland marine insurance
- Businessowners policy
- Professional liability insurance
This list of coverage available through Preferred Mutual is not exhaustive. Your independent insurance agent can help you decide if Preferred Mutual has the right type of coverage to best meet your needs.
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.
Preferred Mutual Auto Insurance
Preferred Mutual's auto insurance policies are available in New York and Massachusetts. The carrier's policies offer all the protections you'd expect, including the following.
Protect yourself and others
- Liability coverage protects you for damages to others if you are at fault in an accident.
- Medical payments coverage provides payment for medical treatment for bodily injury caused by a covered accident.
- Underinsured/uninsured motorist coverage protects you for covered damage caused by drivers with no insurance or those who don’t carry enough insurance.
Protect your car
- Collision coverage pays to repair or replace your insured car after a covered accident.
- Comprehensive coverage pays for covered damages to your insured car resulting from a peril other than collision, such as theft, windstorms, flood, or deer.
Protect your assets
- Accident forgiveness may help you avoid rate increases following a first at-fault accident.
- Personal injury protection covers certain reasonable and necessary expenses.
- Additional coverage for towing, labor, and rental reimbursement.
Preferred Mutual Auto Insurance Discounts
Preferred Mutual offers many competitive auto insurance discounts, including the following:
- Defensive driver discount: For drivers who complete an approved defensive driving course.
- Driver’s training discount: For inexperienced drivers who take an approved driver’s training course.
- Good student discount: For full-time high school or college students who maintain a B average or better.
- Student away at school discount: For those students more than 100 miles from home without access to a vehicle.
- Multiple policies discount: For policyholders who insure their vehicle in addition to their homeowners or mobile homeowners policy.
- Multi-car discount: Saves money if you insure more than one vehicle.
- Security discount: For cars with safety features such as airbags, anti-lock brakes, passive restraints, and anti-theft devices.
- AAA discount: For AAA members.
An independent insurance agent can help you find more information about the auto insurance discounts offered by Preferred Mutual.
Preferred Mutual Homeowners Insurance
Preferred Mutual's homeowners insurance policies offer all the protections you'd expect to find, including the following.
Coverage for the structure of your home
Coverage for the structure of your home against named perils, or certain catastrophes (such as fires, hurricanes, tornadoes, lightning, or other disasters specifically noted in your homeowners insurance policy).
Coverage for your personal belongings
Your homeowners insurance policy will provide basic coverage to protect the contents of your home. You can extend the amount of that coverage in the event you need additional protection by adding a Valuable Possessions Endorsement to your Preferred Mutual homeowners policy.
You can also extend the amount of that coverage in the event you need additional protection by increasing the contents coverage on your homeowners policy or scheduling items of value under the scheduled personal property coverage endorsement.
Coverage for your assets
Your homeowner's policy will also include coverage that protects you and your family against liability risks, such as a visitor who falls and is injured on your premises.
Additional coverage options
Preferred Mutual home insurance policyholders can also add the following coverage options:
- Above-ground pool coverage
- Identity theft coverage
- Valuable possessions coverage
- Personal umbrella coverage
Preferred Mutual Home Insurance Discounts
Preferred Mutual offers many competitive home insurance discounts. You may be able to earn a discount for:
- Combining multiple policies, such as home and auto
- Building or renovating your home with superior construction techniques
- Home construction newer than 20 years old
- Being a non-smoker (NY, MA, and NH)
- Having protective devices
- Having a hard-wired generator
- Having a central station alarm
An independent insurance agent can help you find more information about the home insurance discounts that Preferred Mutual offers.
Connect with a Preferred Mutual Agent Today.
Shopping for insurance? Preferred Mutual has you covered.
Preferred Mutual Business Insurance
Preferred Mutual offers a wide variety of business insurance solutions, including commercial auto insurance, commercial general liability insurance, commercial property insurance, and more.
Preferred Mutual industries
Preferred Mutual specializes in business insurance packages for several niche industries, including:
- Contractors
- Offices
- Wholesalers/distributors
- Building owners/lessors
- Food service
- Religious institutions
- Retail shops
- Services and hospitality
Preferred Mutual Customer Service
Preferred Mutual allows its customers to file claims over the phone or online at any time. The carrier provides the following customer service options.
- 24/7 phone claims reporting
- Online claims reporting
- Email claims reporting
- Online bill pay
- Customer portal
- The customer service department has the following hour restrictions:
| Days | Hours (EST) | ||
| Monday-Friday | 8 a.m.-5 p.m. |
The best way to handle your customer service needs is to work with an independent insurance agent. Independent insurance agents help make customer service easier for you by handling claims and other concerns.
Preferred Mutual FAQs
Preferred Mutual allows customers to file claims at any time over the phone or online. The carrier’s public website does not make a specific claims response time frame promise, however.
Preferred Mutual’s phone line for customer service issues is available at restricted hours on weekdays. However, the insurance company allows customers to file claims over the phone or online 24/7. The carrier also has a social media presence on Facebook and LinkedIn, which makes it even more accessible to customers.
Preferred Mutual allows customers to file claims through a couple of different mediums. The carrier’s official website details the general claims process as follows.
“What should you expect after you report a claim?
- Expect to be contacted by your claims representative who will provide you with your claim reference number and an explanation of coverage available. Your claims rep will also indicate an estimated time frame to process the claim.
- To help expedite your claim, you can take photos of damaged property and email them to Preferred Mutual. Please reference your claim or policy number.
- Depending on the nature of your claim, you can expect certain forms, letters or updates on your claim from Preferred Mutual.
- Use this website to answer any common questions, print copies of forms, or to find an auto repair or glass service facility.
- Log onto MYPreferred to view the confidential status of your claim."
Preferred Mutual’s website is polished and easy to navigate. Customers can locate important information quickly, and details are laid out with satisfactory depth. The insurance company offers several modern customer service options, such as 24/7 claims reporting, online bill pay, and find an agent features.
The carrier works with independent insurance agents to ensure their customers are matched with the best coverage possible for them. Preferred Mutual also has an active presence on social media, overall making for a very user-friendly experience.
Preferred Mutual provides a wide selection of insurance products for individuals and businesses, including high-value home insurance. The carrier’s high-value home insurance provides higher limits than regular homeowners policies in the following categories:
- Personal injury
- Water damage caused by sewers, drains, and sumps
- Physical losses to covered property
- Replacement costs of valued property
- Identity fraud
- Misplacement or loss of valued property
Coverage is ideal to protect the following valuables:
- Money
- Rare and/or valuable coins
- Silverware
- Gold and pewter
- Recreational motor vehicles
Your independent insurance agent can help you find even more information about Preferred Mutual’s high-value home insurance, as well as the carrier's many other products.
Preferred Mutual has been around for nearly a century and a quarter. The insurance company is highly rated by AM Best and the Better Business Bureau. Preferred Mutual provides a large selection of coverage options for individuals and businesses. The carrier also provides a user-friendly experience for its customers and works with independent insurance agents. Overall, Preferred Mutual can certainly be considered a good insurance company.
https://www.preferredmutual.com
https://www.preferredmutual.com/our-difference/press-room/-/2022/06/30/am-best-reaffirms-preferred-mutual-s-a-(excellent)-financial-strength-rating-for-20th-consecutive-year
https://www.bbb.org/us/ny/norwich/profile/insurance-companies/preferred-mutual-insurance-company-0041-73000340/addressId/69772