Union Mutual Fire Insurance Company is an insurance company entirely owned by the policyholders.
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Union Mutual Fire Insurance Company
It means the stockholders are the clients, and it’s them keeping this insurance company alive and working. Any kind of profit will be either spent for the company itself, or it’s returned to the policyholders.
About Union Mutual Fire Insurance Company
Union Mutual Fire Insurance Company is an American-based insurance company founded in 1874, and its headquarters is located in Montpelier, Vermont, United States. Union Mutual of Vermont Companies is the parent company of Union Mutual Fire Insurance.
Interestingly, the concept of this insurance company originated in England in the late 17th century. Union Mutual Fire Insurance Company is entirely owned by its policyholders, and any profits earned are either spent for the company’s maintenance or rebated to policyholders in the form of a reduced price in future premiums.
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Union Mutual Fire Insurance Company offers personal auto insurance in Vermont, New Hampshire, and Maine. This Insurer provides insurance for homes, customized autos, motor, vans/trucks that are less than 10,000 lbs, recreational trailers/campers, utility trailers, and even horse trailers.
For further information or to get a quote, you have to contact your local independent agent.
Union Mutual Fire Insurance Company covers:
Liability Coverage:
Liability covers other people’s vehicle repairs and medical bills after accidents that you were at fault. The costs of repairing any property damaged and the medical bills resulting from an accident are covered. Almost all states require a minimum amount of liability insurance.
Medical Payments:
Medical Payments Coverage, commonly known as MedPay, covers the accident-related medical expenses for you, your passengers, your household members, and other policyholders. This coverage type is very similar to personal injury protection but is more limited.
Uninsured/Underinsured Motorist Coverage:
This specific insurance will pay the medical bills and vehicle repairs if you’re in an accident caused by an uninsured motorist or a driver who doesn’t have enough liability insurance to cover your expenses.
Uninsured/Underinsured is mandatory in 20 states. You should know that this coverage is relatively inexpensive to add to your car insurance policy.
You can also add:
Collision:
Collision coverage will cover damages done to your own vehicle if you’re involved in an accident with another car object, or you get into a single-car accident.
Comprehensive:
This insurance will cover the expenses of damages to your own vehicle that is caused by something other than an accident, like vandalism or a natural disaster.
Installing anti-theft and tracking devices can make this coverage more affordable. Still, comprehensive coverage can be costly, and it may not be necessary, especially if your car is easily replaceable.
Rental Reimbursement:
When your car is being repaired under a claim, rental reimbursement will rent you another vehicle so you wouldn’t be without a car.
Note that the amount of money your insurer will pay per day and the per claim is limited but enough to cover a rental for the total amount of time your car is in the repair shop.
Discounts Union Mutual Fire Insurance offer
Company Car Discount:
Buying a personal automobile will make you eligible for this discount.
Multi-Car Discount
When two or more vehicle is insured on your policy.
Customer Loyalty Discount
A discount is given at each policy renewal to loyal customers.
Home and Auto Discount
Bundle your auto and home policies with Union Mutual Fire Company and get a discount.
Good Student Credit
Full-time students who are under the age of 25 that meet specific academic criteria will get credit from Union Mutual Fire Company.
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Driver Education Credit
Driver Education Program is designed and available for young drivers.
Student Away at School Credit
Students who live at least 100 miles away from home without a vehicle will get a discount on their auto insurance.
Safety Features.
Like any other insurance provider, Union Mutual Fire Insurance Company considers a discount if your car comes equipped with anti-theft, anti-lock, Braking & Passive Restraint (Seat-belts & Airbags).
Union Mutual Fire Insurance Company review
A.M. Best upgraded the rating of the Union Mutual of Vermont Companies, which include Union Mutual Fire Insurance, to “A” (Excellent) Financial Strength with Stable Outlook. Union Mutual President & CEO Lisa Keysar said:
“We are incredibly proud of our upgraded rating. The rating upgrade to A (Excellent) reflects the work of our talented employees, our solid relationships with our independent agency partners, and the vision and guidance of our leadership team and board of directors. It is our priority as a regional mutual company to be financially secure for our policyholders, and our rating recognizes the Company’s strong performance and consistent results year over year. Union Mutual is committed to being a leader within the insurance industry and to be forward-thinking for our network of agencies and policyholders.”
