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BBB Accredited Business since

Bin Insurance Holdings, LLC

Phone: (312) 273-9330 30 N LaSalle Suite 2500, Chicago, IL 60602 View Additional Email Addresses View Additional Web Addresses

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Insureon has provided coverage for more than 175,000 small businesses. This company both serves retail clients directly and supports leading top-five banks, brokerages, and insurance companies in delivering their small commercial business, placing more than $200 million in premium annually. Details about its innovative online application, technology, and business model are available at

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Bin Insurance Holdings, LLC meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Bin Insurance Holdings, LLC include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 5 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Customer Complaints Summary Read complaint details

5 complaints closed with BBB in last 3 years | 2 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 2
Delivery Issues 2
Guarantee/Warranty Issues 0
Problems with Product/Service 1
Total Closed Complaints 5

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Bin Insurance Holdings, LLC
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: March 19, 2013 Business started: 04/09/2010 in IL Business started locally: 04/09/2010 Business incorporated 04/09/2010 in IL
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Illinois Department of Insurance
100 W. Randolph St. Suite 9-301, Chicago IL 60601
Phone Number: (312) 814-2420

Type of Entity

Limited Liability Company (LLC)

Business Management
Mr. Lou Friedmann, Senior Vice President Mr. Ted Devine, CEO Nicole Franke, Director Johanna Sandoval, Director
Contact Information
Principal: Mr. Lou Friedmann, Senior Vice President
Business Category

Insurance Agency Insurance - Accident & Health Insurance - Auto Insurance - Crop Insurance - Fire & Flood Specialists Insurance - Aviation Insurance - Bonding Insurance - Funeral Insurance - Health Insurance - Medicare Services Insurance - Medicare Supplement Insurance - Homeowners Insurance - Life Insurance - Long Term Care Insurance - Marine Insurance - Dental Insurance - Rental Insurance - Disability Insurance - Medical Liability Insurance - Property Insurance Consultants Retirement Planning Service Financial Services Insurance - Employee Benefits Business Consultants Consultant - Strategic Planning Consultant - Planning Property Management Property Management - Industrial & Commercial Business Services - General Insurance - Travel Insurance-Group Insurance Agencies and Brokerages (NAICS: 524210)

Products & Services

Bin Insurance Holdings, LLC sells the following brand(s): ACE Ltd., CNA Financial Corp, Hartford Insurance, Philadelphia Consolidated Holding Corp, Philadelphia Insurance, Travelers Companies Inc., USLI - Berkshire Hathaway Inc., Zurich Insurance Group

Bin Insurance Holdings, LLC offers the following product(s): Business Interruption Insurance, Business Owner's Policy (BOP), Commercial Auto Insurance, Commercial Property Insurance, Cyber Liability Insurance, Directors & Officers Insurance, Employment Practices Liability Insurance (EPLI) , Errors and Omissions (E&O), General Liability Insurance, Hired & Non-Owned Auto Insurance, Professional Liability Insurance, Umbrella Insurance

Method(s) of Payment
We accept most forms of payment, including checks and major credit cards.
Refund and Exchange Policy
You can cancel your policy at any time and the insurance carrier who insures your business will refund any premium owed to you. As the agency we do not issue the refund; the carrier does. However, as soon as you cancel your policy, you will no longer have any protection in place for potential claims and/or losses.
Alternate Business Names
Business Insurance Now Insureon

Additional Locations

  • 30 N LaSalle Suite 2500

    Chicago, IL 60602


BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

5/5/2016 Billing/Collection Issues | Complaint Details Unavailable
10/5/2015 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: I applied over the phone for the Business Owner's Policy and Workers Comp after being redirected from Progressive. I was given one Agent extension and left her several voicemails with no response back at any time. I looked on my home screen and saw that I was assigned a 2nd agent contact. I also left her several messages and never received back from either. I contacted the customer service line who transferred me to **************** He expedited my application and then sent me back the Business Owners Policy only. I called him back immediately to request the other half of what I had applied for (Workers Comp) and was told that it was almost complete and that he would get it back to me in a few minutes. He said it would be okay to sign and send over the Business Policy as I needed the insurance within a few days. I believe 2 days went by and I dont hear or see anything from Jerry. So I call back and get a voicemail. On the day of my policy effective date, I get an email from my direct agent, ****************** that Insureon no longer offered Workers Comp. I had to rush looking for a company that offered just the Workers Comp but no one was willing to sign a policy without the Business Policy attached to it. So Insureon fraudulently misled me to signing a policy knowing that they don't offer Workers Comp and that it is illegal for me to operate my business with employees in the State Of California. I try to cancel the policy and it took almost two weeks of leaving messages, calling the customer service line, getting hung up on, and emails to finally get ahold of someone to cancel the policy. In addition to this, I even had to directly contact the Insurer (USLI) and Progressive Insurance to log my cancellation request and complaints because I wasn't receiving any response from Insureon. After finally getting a hold of someone and getting promise of "cancelling my policy flat , I am now being charged by Insureon a 25% cancellation fee.

Desired Settlement: Full and immediate refund from Insureon and the ruling logged to the BBB for all to see.

Business Response: Initial Business Response /* (1000, 6, 2015/09/23) */ Our agents did try to obtain a new business quote for both lines of businesses but unfortunately our markets were not available for workers compensation after further underwriting. We communicated to our insured that we would not be able to start the workers compensation. We did receive his request to cancel the current policy. We were able to cancel the policy and refund our insured the premium he paid us in full to him with no penalty fees within two business days.

1/23/2015 Delivery Issues | Read Complaint Details

Additional Notes

Complaint: 1st, they appear to be operating under several different names. *** holding company, operating as **** Insurance, an ******** company. The BBB logo is on **** Insurance page and does not link to the website. I chose **** for insurance services on 9/5/14. I signed their contract, paid my deposit of $356.10 and received a certificate of insurance. 3 WEEKS LATER I received a phone call to verify the details of the coverage. Since we were a new business I stated that we were primarily consulting and should clients opt for our business we would then do the repairs. Unfortunately, this wasn't acceptable to them and they decided to cancel the policy. Needless to say, I was not happy with this decision and also confused that it seems there would be more of a liability for a company who did more physical work. It was out of my hands, the policy was getting cancelled. I asked about the deposit and was told verbatim "once the cancellation is processed by the carrier, the earned premium will be determined at that time. The policy fees of $280 are fully earned at binding." What I have now realized, is that they include a non-descriptive "fee" of $280 in the premium and then show a zero amount under brokerage fee. Only in the email after they cancelled the policy, did their agent use the term "policy fee". It is not indicated as such on my contract. Moving on... As told to me, in writing, I am waiting for the carrier to cancel the policy so I can receive my refund. Well another 3 weeks go by and I receive a bill in the mail for the monthly amount plus a late fee. What? I contact them AGAIN. Come to find out they cannot cancel the policy, EVEN THOUGH I HAVE NO COVERAGE, am instructed (again in writing) to not pay the bill and it will cancel for non-payment. I express that I am not comfortable doing this and am assured once again, it is not a problem and it is what needs to happen (yes, in writing). Now, let's just fast forward past all the back and forth emails of me asking what is going on and being told it is being worked on for over two months. Finally on 12/26 I receive an email, it's been taken care of and now I OWE $102!!!!! It gets better ----> I then receive a demand letter, threatening legal action that I have not been responsive to their many requests for payment and if I DO NOT OVERNIGHT THE PAYMENT I WILL BE SUED. In fear of jeopardizing my credit I am paying the bill to finish once and for all.

Desired Settlement: I expect a full refund of their hidden policy fee of $280 and the additional $76.10 deposit, specified only as a deposit of $356.10. The contract does not specify it as a policy fee.Also the $120.96 collected from the finance company. This company has acted in bad faith, collected monies for services not rendered and consistently given me conflicting information. Even most recently, the managing representative, stated she would contact me in two weeks...I was responded to in four. This company should be held accountable for their actions. The fact that I need to take further time to deal with this by writing a letter over $500 is ridiculous.

Business Response: Initial Business Response /* (1000, 5, 2015/01/12) */ Contact Name and Title: ****** ****** Contact Phone: XXXXXXXXXX Contact Email: ************* Our director of Customer Relations, ****** ******, reached out to ******* ***** today to finalize the full reimbursement of $477.06. When Ms. ***** filled out our online application for business insurance she indicated her operations as 80% cabinet repair and 20% interior consultant. One of our carriers, ******** ******** ********* ******** wrote this business due to the client being a contractor, their specialty. After the phone audit with the Ms. *****, the carrier learned that the insured is actually 80% consultant and only 20% cabinet repair as needed. As a result, they were unable to stay on risk and canceled the policy. *** ********* ******** is seeking the return of the premium from the carrier, but has been unsuccessful to date. As a result we are reimbursing Ms. ***** out of our pockets to make her whole. A reimbursement check totaling $477.06 has been issued and sent to Ms. ***** on 1/12/2014.

11/12/2013 Delivery Issues | Read Complaint Details

Additional Notes

Complaint: I got a Commercial business policy thru BIN from Jan.'13 for my building in ******** *** On July 16th, '13 we had water damage. I tried contacting BIN & it took 3 days to speak to a "live" person. To file a claim, it took 7 more different tel# & 3 more days to speak to the right person. Some of the tel# didnt even work. I left messages, but no one returned my calls. No one should have to call this many #s to start a claim. On July 19th I finally spoke with BINs customer service rep. & she gave me the carriers tel#. When I started to file the claim with **** (policy carrier) they gave me a shocker, I found out that my policy does not have coverage for repair on the building, only coverage on contents. Whoever heard of signing up for a Commercial business policy on a building, but do not cover the building? **** told me to call back BIN. When I frantically called BIN, again took 3 more days to speak to a live voice, & spoke to ****** She expressed a great concern saying This is in my radar, I will get to the bottom of this & speak to the upper management/owner & will call you back tomorrow. In the mean while since you dont have coverage, we need to take care of that right now. As of today well have coverage for your bldg & I will e-mail to your e-mail add. I did not hear from her for 2 days nor any e-mail on my bldg coverage. This company promises one thing, but does not keep them. Lies after lies, excuses after excuses, and very poor customer services.The complaint is much too long to write in this description. I will fax the copies of letters & e-mails of this case. I have also contacted the Insurance Commissioner of ***** and filed a complaint. Order_Number: Claim# KXXXXXX Account_Number: CPXXXXXXX

Desired Settlement: DesiredSettlementID: Other (requires explanation) I would like to have a settlement on my building's water damage repair as soon as possible. It's been almost 2 months since the incident. I live in ********** & I need to fly back to ** just for the building repairs before the weather gets too cold.

Business Response: Initial Business Response /* (1000, 15, 2013/11/01) */ Contact Name and Title: ****** ******, Director Contact Phone: XXX-XXX-XXXX Contact Email: ************* We are in receipt of the BBB letter addressing case number XXXXXXXX dated October 24, 2013. Our attorney, ******** ******* with ***** ********* has left voicemails for both Mr. ***** and his attorney ******* ****** over the last several weeks. Today, they were finally able to connect and Mr. ****** has reiterated to Mr. ***** that we are unable to evaluate the claim without back-up documentation supporting the stated $10,000 building estimate. Mr. ***** advised he will forward a copy of a written estimate from **** The ******** to Mr. ****** via fax or email. After this information has been received and reviewed, Mr. ****** agreed to reach out to Mr. ***** with a proposal to resolve this matter. Our attorney has also provided his contact information should Mr. ***** or his attorney wish to call with any further questions or concerns.

11/12/2013 Billing/Collection Issues | Read Complaint Details

Additional Notes

Complaint: Business provides insurance through other carriers. Because of negligence, my policy was canceled and I was never notified. Leaving liability to us I discovered this week that I have been without workers compensation for the last few months leaving my company open to possible liability and breach of contract with my current customers resulting in the loss of hundreds of thousands of dollars. I spoke directly with my carrier (the ********* and was told that Business insurance now should have made me aware that my policy had been cancelled. They never did. I have updated my information with Business insurance now annually and discovered this week that the information I submitted has never been processed and that my liability coverage was covering me for the wrong location for the last 4 years and counting. This is inexcusable since that is why anyone has these insurances in the first place. I have it confirmed form ***** ************ that I am not the first person who has not had their information updated correctly and that a company is suffering from the result of this and going through months and I am sure thousands of dollars because of ****** Insurance Now's negligence.

Desired Settlement: My policy with the ******** has been cancelled and my company has been sent to collections because our information was never updated by Better Insurance Now. I request that the president get involved to make sure that I am granted coverage.

Business Response: Initial Business Response /* (1000, 14, 2013/11/01) */ Contact Name and Title: ****** ******, Director Contact Phone: XXX-XXX-XXXX Contact Email: ************* We are in receipt of the BBB letter addressing case number XXXXXXXX dated October 24, 2013. As a result of this correspondence, an Insureon account manager, ******* ********, reviewed our client file for ******* ********** and immediately reached out to him to discuss his concerns. Mr. **********'s address and payment information had been corrected with ******** in previous months and we confirmed active policies for his Worker's Compensation and General Liability exposures. ******* and Mr. ********** agreed the issue has been corrected.

Customer Review(s)

The customer review(s) below are un-filtered. These positive and negative reviews are not used in the calculation of the BBB Rating. If you wish to file a complaint and request a resolution to your issue please click here. This customer review section is not BBBs complaint resolution system. Customer Reviews are the subjective opinion of the individual who posted the review and not of Better Business Bureau. A customer review is not posted on a business if a BBB complaint on the same issue(s) is also filed. BBB cannot guarantee the accuracy of any customer review and is not responsible for the content of any customer review. Public comments are not customer reviews.

Customer Reviews Summary

0 Customer Reviews on Bin Insurance Holdings, LLC
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