[Full disclosure: Foremost Insurance is one of our insurance carriers. As such, the Horan agency receives commissions for policies Foremost underwrites for our clients. That relationship doesn't influence our opinions or evaluations of the carrier. What follows is an objective review of a company we chose to work with for many of the reasons you'll read below.]
Insurance policies often come with complex wording that leaves you feeling uncertain about what coverage you actually have. When evaluating insurance options, you need straightforward information about a carrier's background, financial reliability, and coverage options to make informed decisions about your specific requirements.
The Horan insurance agency in Central New York collaborates with numerous insurance carriers, including companies like Foremost Insurance, giving us insights and perspective others may lack. Our experience with diverse insurance providers allows us to evaluate carriers based on their performance and suitability for different situations.
In this article, we'll examine Foremost Insurance's background, coverage offerings, financial standing, and suitability for different insurance situations in Central New York. We'll also explore who might benefit most from their policies and who might want to consider alternatives.
How Foremost Evolved From Mobile Home Insurance to Multi-Line Carrier
Foremost Insurance Company began in 1952 when Edward J. Frey, Richard E. Riebel, Edward L. Stoddard, and a group of investors identified an underserved market: the thousands of American families living in mobile homes. This focus on coverage for mobile homes marked the starting point of what would become a company known for insuring non-standard risks that many traditional carriers wouldn't consider.
The company's first significant expansion came in 1961 when they introduced TravelSure, the first insurance policy designed for travel trailers. This marked the beginning of their diversification strategy, which continued throughout the decades as they added coverage for recreational vehicles, motorcycles, and other items.
Foremost demonstrated its commitment to customer safety in 1962 by becoming the first insurance company to commission a study on how strong winds affect mobile homes. They then worked with state lawmakers to create mandatory tie-down laws, showing their proactive approach to risk management and customer welfare.
By the 1970s, Foremost had expanded into various recreational vehicle markets, covering boats, motorcycles, mini-bikes, snowmobiles, and all-terrain vehicles. Their insurance offerings continued to grow, and in 2000, Foremost was acquired by the Farmers Insurance Group, creating new opportunities for growth while maintaining their approach.
Today, Foremost offers much more than mobile home insurance, with products covering traditional homes, rental properties, condos, auto, and commercial vehicles, while still maintaining their original commitment to various coverage markets.
What Insurance Products Does Foremost Offer?
Let's examine Foremost's main insurance offerings and how they serve different customer situations in Central New York.
Mobile Home and Manufactured Housing Coverage
Foremost began as a mobile home insurer, and this remains a core offering. Their mobile home policies typically include:
- Coverage for direct, abrupt, and accidental physical losses not specifically excluded
- Liability coverage for accidents causing injury or property damage to others
- Agreed loss settlement options that pay the insured amount (minus deductible) if your home is destroyed
- Optional replacement cost coverage without depreciation deduction
These policies may help address risks manufactured homes might face in Central New York's climate, including snow, seasonal temperature changes, and other weather-related considerations.
Homeowners Insurance for Traditional Dwellings
Expanding beyond their mobile home origins, Foremost now offers homeowners insurance with several coverage options:
- Property coverage for most direct, abrupt, and accidental physical losses
- Named peril coverage for specific risks like fire, explosion, and storm damage
- Replacement cost coverage without depreciation deduction
- Actual cash value options with lower premiums
- Extended replacement cost coverage providing up to an additional 50% of the insured amount in some states
- Grand Protect signature line option that combines dwelling, other structures, and personal property coverage into one total sum, allowing you to allocate coverage where needed without being restricted by individual category limits
- Optional endorsements for equipment breakdown coverage and underground service line protection
Their homeowners coverage may be relevant for Central New York residents who experience seasonal weather changes like winter storms and spring thaws.
Learn more about replacement cost vs. actual cash value.
Seasonal and Vacation Property Insurance
For Central New York residents with vacation properties in the Adirondacks, Finger Lakes, or elsewhere, Foremost offers seasonal home insurance that includes:
- Property coverage for most direct, abrupt, and accidental losses
- Actual cash value or agreed loss settlement options
- Named peril coverage options
- Liability protection
- Optional replacement cost coverage
These policies may address considerations of properties that stand vacant for extended periods, which can be relevant for seasonal property owners in our region.
Landlord and Rental Property Coverage
Foremost's landlord insurance policies include:
- Named peril or property coverage options
- Replacement cost or agreed loss settlement options
- Liability coverage for property owner protection
- Actual cash value coverage with depreciation consideration
Additional options include loss of rents coverage, which may be important for landlords in cities like Syracuse, Liverpool, or Baldwinsville who depend on rental income.
Specialty Vehicle Insurance
Foremost offers coverage for specialty vehicles, including:
- Motorcycles and scooters
- ATVs and UTVs
- RVs and travel trailers
- Snowmobiles
- Golf carts
- Watercraft
- Collectible autos
Their specialty vehicle policies typically include liability coverage, collision protection, and coverage for non-collision incidents like theft or storm damage. For Central New York residents using these vehicles seasonally, Foremost offers annual policies that maintain coverage during storage months.
Auto Insurance Solutions
Foremost's auto insurance offerings include:
- Bodily injury and property damage liability
- Uninsured/underinsured motorist coverage
- Medical payments
- Rental reimbursement
- Towing and roadside service
- Loan/lease coverage for gap protection
Through Bristol West, a Foremost affiliate, they also offer commercial auto insurance for small business owners with specific coverage needs.
Commercial Insurance Solutions
In addition to commercial auto coverage, Foremost offers commercial property insurance and business coverage for:
- Small business property protection
- Liability coverage
- Commercial vehicle fleets
- Business equipment
What Makes Foremost Stand Out
Foremost combines financial stability with insurance experience. In 2008, A.M. Best affirmed Foremost's A (Excellent) financial strength rating with a stable outlook, noting their "favorable risk-adjusted capitalization" and "solid operating performance."
What distinguishes Foremost is their willingness to insure non-standard risks that many traditional carriers avoid. From mobile homes to collectible autos to seasonal properties, they've built their approach on addressing insurance markets that some other companies might not focus on.
Their acquisition by Farmers Insurance Group in 2000 strengthened their financial position while allowing them to maintain their insurance focus. This combination of knowledge and financial backing makes them an option worth considering in the insurance marketplace.
Foremost also demonstrates commitment to their policyholders through their claims service. Their claims department operates around the clock, and they maintain Mobile Claims Centers to respond to catastrophic events, bringing claim services directly to affected areas—an approach that began after Hurricane Celia in 1970.
Who Benefits Most from Foremost Insurance Coverage?
Understanding who might benefit most from Foremost's offerings can help you decide if they're worth considering for your insurance situation.
Good Fits
Foremost may work well for:
- Mobile and manufactured home owners seeking specific coverage
- Owners of seasonal or vacation properties in Central New York
- Owners of specialty vehicles like classic cars, motorcycles, or RVs
- Landlords needing rental property protection
- Drivers of ATVs, snowmobiles, or other recreational vehicles
- Boat owners seeking watercraft coverage
- Property owners who don't qualify for standard insurance due to claims history, property condition, or other factors
- Homeowners who want flexibility in how their coverage limits are allocated (through Grand Protect's combined coverage approach)
- Homeowners concerned about equipment failure or underground service line damage
Not-so-Good Fits
Their coverage might not suit those who:
- Want all their insurance with a single carrier (though their affiliation with Farmers broadens options)
- Need highly specific commercial coverage beyond their offerings
- Seek the lowest possible premiums (carriers with non-standard markets often charge more for their offerings)
- Prefer working exclusively with larger national carriers
- Need coverage types beyond their current product lineup
Finding Suitable Insurance Coverage in Central New York
Selecting insurance involves balancing coverage levels, cost, and carrier reliability. You need information about available options from someone familiar with local insurance considerations and carriers like Foremost.
Our Central New York insurance agents can help you learn about Foremost's offerings and how they might relate to your specific situation. With their focus on various insurance markets and financial stability, Foremost offers coverage options worth considering for many property and vehicle owners in our region.
Click the Get a Quote button below to connect with our team about insurance solutions from carriers like Foremost that can help address your insurance requirements and Central New York's unique insurance considerations.
If you’d like to read more Horan Reviews on carriers that serve the Central New York region, click the links below. We’ll add more review links as they become available.
- Dryden Mutual Insurance Review
- Erie Insurance Review
- Main Street America Insurance Review
- NYCM Insurance Review
- Oswego County Mutual Review
- Plymouth Rock Assurance Review
- Progressive Insurance Review
- Sterling Insurance Review
- Travelers Insurance Review
