Farmers Union Insurance

What Farmers Union Insurance does

Farmers Union Mutual Insurance Company (FUMIC), operating under the brand Farmers Union Insurance, is a U.S. mutual insurance company founded in 1938 and headquartered in Jamestown, North Dakota, with a secondary national sales office in Mandan, ND. The company is owned by its policyholders, who elect its Board of Directors, and is supported by the Farmers Union Service Association (FUSA), which is licensed to sell insurance products in 30 states. It employs between 51 and 100 people and distributes its products through an independent insurance agent network with an agent locator available on its corporate website.

The company's product portfolio spans roughly 20 personal, commercial, and agricultural insurance lines. Core offerings include Auto, Homeowners, Farm/Ranch, Crop (Yield Protection and Revenue Protection), Life, Health, Medicare Advantage Plans, and Commercial Ag Insurance, alongside Annuities, Motorcycle, Recreational Vehicles, Watercraft, Renters, Umbrella, Flood, Condominium, Dwelling, Long-Term Care, Supplemental Benefits, and Workplace Supplemental Products. Its technology footprint consists of a standard insurance operations platform with no disclosed proprietary AI or ML components; claims processing is handled through partnerships with multiple third-party carriers (Progressive, Liberty Mutual, Hartford, Travelers, Grinnell Mutual, Secura, Foremost, and others).

Farmers Union Insurance generates revenue through recurring insurance premiums billed monthly on a quote-based, location-specific pricing model. Rates are developed for local service areas based on local expenses, claims paid, income, and other factors. The company purchases reinsurance to manage catastrophic-event exposure and serves primarily farmers, agricultural operations, rural homeowners, and families in North Dakota and surrounding states, with select expansion into Utah via FUSA.

Name

Farmers Union Insurance

Legal name

Farmers Union Mutual Insurance Company

Website

https://fumic.com

Company type

Private

Founded year

1938

Operating status

Operating

Headcount range

51–100 employees

Short description

Farmers Union Mutual Insurance Company is a policyholder-owned mutual insurer headquartered in Jamestown, North Dakota, offering auto, home, farm/ranch, crop, life, health, and Medicare Advantage coverage across 30 states through an independent agent network.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Crop & Farm Property Insurance (FSAJACAK)

Keywords

• Mutual insurance company
• Crop insurance coverage
• Farm ranch insurance
• Personal lines insurance
• Independent agent network

Headquarters

HQ city

Jamestown

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Premiums: Farmers Union Insurance generates revenue through insurance premiums collected from policyholders. As a mutual insurance company, policyholders own the company and elect the Board of Directors. Rates are developed for local areas and affected by local expenses, claims paid, income, and other factors.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Farmers Union Insurance is a mutual insurance company that sells personal, agricultural, and commercial insurance coverage including auto, homeowners, farm/ranch, crop, life, health, Medicare Advantage, and specialty lines. Policies are sold and serviced through independent agents across 30 states, with rates developed locally for each service area. The company also provides claims processing, policy management, and billing services through its agent network and online portal.

Product overview

Farmers Union Insurance (FUMIC) is a mutual insurance company offering a comprehensive portfolio of insurance products primarily focused on agricultural and rural markets. The company provides personal insurance products (Auto, Homeowners, Life, Health, Motorcycle, Renters, Umbrella, and Medicare Advantage Plans) alongside specialized agricultural coverages including Crop Insurance, Farm/Ranch Insurance, and Commercial Ag Insurance. The product portfolio also includes property insurance products (Condominium, Dwelling, Flood), annuities, supplemental benefits, and workplace products. As a mutual company, policyholders own the company and elect the Board of Directors. The company operates with independent agents and serves customers primarily in North Dakota and surrounding states through FUSA which is licensed in 30 states.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Insurance Vehicle insurance covering liability, collision, comprehensive, uninsured motorist, and other coverage types for personal automobiles. Designed for vehicle owners requiring automobile insurance coverage, with specific attention to North Dakota requirements including uninsured/underinsured motorist coverage and no-fault coverage.
• Homeowners Insurance Property coverage protecting residences against damage from fire, weather, theft, and other covered perils, including liability protection. Targeted at rural homeowners and families living on or near farms.
• Farm/Ranch Insurance Comprehensive agricultural coverage protecting farm facilities, equipment, livestock, and crops against various perils and natural disasters. Targeted at family farms and agricultural producers requiring specialized coverage for their land, crops, livestock, equipment, and operations.
• Crop Insurance Agricultural insurance protecting farmers against crop losses due to natural disasters, price fluctuations, and other covered perils. Includes Yield Protection (YP) and Revenue Protection (RP) policies, targeted at farm and ranch operations.
• Business Owners Insurance Commercial insurance policy designed for small to medium-sized businesses, providing coverage for property, liability, and business interruption.
• Life Insurance Financial protection for families providing death benefits and cash value accumulation. Available as term life or whole life policies. Targeted at general consumers and families seeking life insurance coverage for financial security, debt protection, and estate planning.
• Health Insurance Medical coverage providing access to healthcare services, routine checkups, medications, emergency care, and hospitalization.
• Medicare Advantage Plans Medicare Part C plans offering alternative ways to receive Medicare benefits through private insurance companies. Targeted at seniors and Medicare-eligible individuals seeking supplemental coverage and prescription drug benefits.
• Annuities Retirement savings product that provides periodic payments over a specified period or for life.
• Motorcycle Insurance Specialized vehicle insurance for motorcycles with coverage including liability, collision, and uninsured motorist protection.
• Watercraft Insurance Coverage for boats, yachts, and water vessels against property damage, liability, and water-related incidents.
• Recreational Vehicles Insurance Coverage for RVs, campers, and other recreational vehicles against damage, liability, and personal injury.
• Renters Insurance Protection for tenants covering personal belongings against theft, fire, and other perils, plus personal liability coverage.
• Flood Insurance Coverage protecting properties and belongings against flood damage, typically offered as separate policy or rider.
• Condominium Insurance Coverage specifically designed for condominium owners, protecting the unit and personal belongings against property damage and liability.
• Dwelling Insurance Coverage for rental properties and landlord-owned residences, protecting against property damage and liability.
• Umbrella Insurance Excess liability coverage providing additional protection beyond the limits of primary auto, homeowners, or other policies.
• Commercial Ag Insurance Insurance products designed for commercial agricultural operations, covering farms, ranches, and agribusinesses.
• Supplemental Benefits Additional coverage options including cancer care and accident coverage that supplement primary insurance policies.
• Workplace Supplemental Products Employer-sponsored supplemental insurance offerings for employees, including various benefit options.
• Long-Term Care Insurance Coverage for individuals who need assisted living or medical care due to chronic health conditions, covering services for Activities of Daily Living (ADLs).

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

16 partnerships are on record, tiered core and minor.

• Farmers Union Service Association (FUSA)coreChannel Partner/ Reseller/ Distributor · 17 May 2016Farmers Union Service Association (FUSA) of North Dakota leads sales and marketing efforts in Utah for QBE Farmers Union Insurance products, as announced by National Farmers Union Insurance Company (NFUIC). FUSA provides on-the-ground support to approximately 30 independent Farmers Union Insurance agents located in Utah. FUSA is currently licensed to sell insurance products in 30 states.
• BEK Broadcasting NetworkminorGTM or Marketing Partner · 5 May 2016BEK Broadcasting Network of Steele, N.D., named Farmers Union Insurance as its premier sponsor. The network provides coverage of high school athletic competitions throughout North Dakota. The partnership aligns with Farmers Union Insurance's commitment to rural communities and cooperative roots.
• Agraria Insurance CompanyminorOthersClaims partner listed on Farmers Union Insurance claims page. Agraria Insurance Company operates under the DBA Farmers Union Insurance.
• National General Insurance CompanyminorOthersClaims partner for auto claims processing.
• National Farmers Union InsuranceminorOthersClaims portal for National Farmers Union Insurance Claims.
• Progressive InsuranceminorOthersClaims partner for auto claims processing.
• Grinnell MutualminorOthersClaims partner for property and casualty claims.
• Foremost InsuranceminorOthersClaims partner for specialized insurance claims.
• Secura InsuranceminorOthersClaims partner.
• Travelers InsuranceminorOthersClaims partner for property and casualty claims.
• Family Mutual InsuranceminorOthersClaims partner.
• Bristol WestminorOthersClaims partner for auto claims.
• Liberty MutualminorOthersClaims partner.
• Dairyland InsuranceminorOthersClaims partner for auto/specialty claims.
• Hartford InsuranceminorOthersClaims partner.
• Center Mutual InsuranceminorOthersClaims partner.

Scale indicators1 record

Recent moves4 records

Expansion highlights4 records

Direct peers

• Shelter Insurance: Shelter Insurance is a mutual carrier providing personal and farm insurance through exclusive agents across the central and southern U.S., comparable to Farmers Union's mutual ownership, rural customer focus, and comprehensive multi-line product strategy.
• Farm Bureau Financial Group: Farm Bureau Financial Group offers multi-line insurance (auto, home, life, farm/ranch, crop) through exclusive agents in rural and Midwestern states, directly overlapping Farmers Union Insurance's rural customer focus and multi-line product portfolio.
• Auto-Owners Insurance: Auto-Owners Insurance is a mutual property/casualty carrier distributing personal, commercial, and farm insurance exclusively through independent agents across many U.S. states, mirroring Farmers Union's mutual structure and agent-led distribution model.
• COUNTRY Financial: COUNTRY Financial is a Midwest-based mutual insurance and financial services provider offering auto, home, life, farm, and crop coverage through exclusive agents, comparable to Farmers Union's rural Midwestern footprint and farm-focused product mix.
• SECURA Insurance: SECURA Insurance is a mutual property/casualty carrier serving personal, farm, and commercial customers across the Midwest through independent agents, comparable to Farmers Union's mutual structure, rural/agricultural focus, and agent-led distribution.
• Erie Insurance: Erie Insurance is a mutual property/casualty insurer selling auto, home, and commercial coverage through exclusive agents primarily in the eastern U.S., comparable to Farmers Union's mutual structure and agent-driven distribution approach.
• Grinnell Mutual: Grinnell Mutual is a Midwest-based mutual property/casualty insurer serving farm, auto, home, and commercial customers through independent agents, making it one of the closest structural analogues to Farmers Union Insurance's mutual, rural-and-ag focused model.

Broad incumbents

• Cincinnati Financial: Cincinnati Financial is a publicly traded P&C insurer with a large independent-agent property/casualty subsidiary (Cincinnati Insurance) that writes commercial, personal, and farm/ag coverage nationwide, providing a benchmark for the scale-up path from a regional mutual like Farmers Union Insurance.
• Westfield Insurance: Westfield Insurance is a super-regional mutual P&C carrier writing personal, commercial, and agricultural coverage through independent agents across the Midwest, comparable in mutual ownership structure to Farmers Union Insurance.
• State Auto Insurance: State Auto is a multi-state property/casualty insurer distributing personal, commercial, and farm/ranch products through independent agents, comparable to Farmers Union's agent-based, multi-line, multi-state distribution model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/ndfui

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Farmers Union Insurance