Electric Insurance Company
75 Sam Fonzo Drive
Beverly, MA 01915
Electric Insurance Company, a company with a strong financial background, offers competitive rates for high quality products and a customer service that’s truly world-class. The company has received several awards that attest to its outstanding performance.
Electric Insurance came to life in 1927; its name today is derived from the company General Electric (GE). EMLICO, the company’s parent company then, provided Workers’ Compensation insurance exclusively for GE in Massachusetts. However, GE had shown to do its job impressively well that in the 1950s, it (EMLICO) started to provide for the former not just locally but also nationally. Soon after, EMLICO’s product line expanded to include Commercial Auto and General Liability.
In the ’60s, GE employees started looking for their own insurance products to cover their home and auto needs. It was then that Electric Insurance was born. It was incorporated in 1966 as a Massachusetts casualty and property insurer to offer personal lines such as home and auto insurance to GE employees.
In the ’70s, Electric Insurance expanded its product line to benefit GE employees, which included personal excess liabilities. The company moved to Beverly, Massachusetts during the ‘80’s and in the 2000’s, the company built a call center and customer service that can only be described as world-class. By 2003, the company opened its service to the general public.
Electric Insurance has had received recognition from two of the top rating companies in the industry. In 2007, the company received an A (for Excellent) standing from A.M. Best, as well as an A (for Strong) award from Standard and Poor’s. It also won a 2001 Regional Torch Award for Excellence.
Today, Electric Insurance offers personal and commercial insurance products to individuals, families, and employees. Its products include auto, home, condo, renters, recreational vehicle, motorcycle, watercraft, and snowmobile insurance. It also continues to write commercial insurance for GE. The company distributes products to its clients online and through independent agencies to individuals and families, who hold more than one-half of its car and home insurance policies.
Electric Insurance offers fast and free rate quotes, money-saving discounts, expert coverage review, online policy management, and 24/7 claims service for its home, auto, renters, and condo insurance. It assists clients in finding the correct and appropriate insurance coverage to protect their homes, cars, condos, and personal property. Additionally, it offers a guaranteed 100-percent replacement for homes (a feature not common in other companies) and offer unbelievably affordable renters insurance for those renting houses.
The company is licensed in Canada and in Europe. Its headquarters is in Beverly and has an office in Chelsea, both in Massachusetts. It has 500 to 999 employees and a revenue of $450 million in annual written premium. It has approximately $160 million in personal lines premium for about 135,000 policy holders and $1.3 billion in assets.
Electric Insurance’s goal is to be the best and preferred auto and home insurance provider for both individuals and families from the general public, as well as to GE employees.