UPDATED: Nov 30, 2018
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About Pennsylvania Lumbermens Mutual
Pennsylvania Lumbermens Mutual traces its history back to 1895 when a group of lumber dealers and woodworkers formed a mutual insurance company to provide affordable coverage for members of that industry. It began operations in 1897. Formed in Philadelphia, the 1930s saw the beginnings of expansion to neighboring states both to the north and to the south.
In 2013, the company formed an affiliation with competitor Indiana Lumbermens Mutual to help both companies expand their reach and increase stability. This resulted in a combined coverage area stretching across the nation.
Today the affiliated companies provide thousands of lumber, wood, and building materials companies with comprehensive commercial insurance packages to protect their businesses. The headquarters for PLM remains in Philadelphia, and brokers sell products across the country.
Pennsylvania Lumbermens Mutual’s commercial products are available only in their niche market. They provide coverage to a range of wood industry-related businesses, from furniture manufacturing to woodcarving. The available coverage can vary by state.
PLM’s commercial policies can include a variety of property insurance choices, including basic business property, stock and inventory, business income, and equipment breakdown.
Casualty products include general liability, commercial umbrella, and commercial auto. They also offer specific liability products such as employment practices liability and cyber liability as options to add to a package policy.
Inland Marine coverage is also available, providing for things like forklifts and related equipment, property off premises, and builder’s risk insurance.
PLM serves a niche market where coverage needs and rating of companies will vary and require a detailed approach to creating a package policy and a quote for that policy. As a result, the company does not offer online quoting and we would not expect it.
The website will help visitors contact a local representative to provide a proper quote.
Claims can be submitted via email, fax, or over the phone. There are fillable claims forms on the company website that allow the insurance to electronically prepare the claim and then either attach it to an email or send it via fax. After the claim has been submitted, the site states a representative will contact the insured within 24 hours.
The claims process is outlined in simple terms on the website and all of the required forms and information are easily located.
Pennsylvania Lumbermens Mutual sends all customers a claims survey after the claim is complete, allowing them to get customer feedback on the claims process.
Ratings and Consumer Reviews
Pennsylvania Lumbermens has an A+ rating with the Better Business Bureau (BBB). There are no complaints on file in the past three years.
Reviews of this company are not numerous; we found two negative reviews on Google citing a poor customer service experience and were unable to locate other reviews. Companies that focus on business insurance, and particularly those in a very specific niche industry, do not typically have much in the way of reviews online. It is possible that the reasoning behind this is that complaints are being handled elsewhere, but in general any company with a very low complaint volume has a good reputation.
The Bottom Line
With a national reach and well over a hundred years insuring the same industry, PLM is a good choice for companies that fit their specific market. They appear to have a good reputation and can help provide the right coverage for lumber and wood-related companies.
For a list of companies that we recommend, visit our Best Insurance Companies page.