Mel Foster Insurance

What Mel Foster Insurance does

Mel Foster Insurance is a family-owned, 100% independent insurance agency founded in 1932 and headquartered at 3218 E 35th St Ct., Davenport, Iowa. The firm serves individuals, families, and businesses across the Quad Cities region of Iowa and Illinois through licensed producers, with a stated 24-person team recognized at its 2024 annual event (firmographic range 11–50 employees). Its core offering spans six product surfaces: personal lines (auto, home, high-net-worth, renters, condo, specialty dwelling, flood, umbrella, boat, motorcycle, RV, ATV/powersports); commercial lines (business, contractors, workers compensation, general liability, professional liability, cyber liability, commercial umbrella, bonds, commercial property, restaurant); transportation insurance for fleets and owner-operators across all 50 states and Canada; employee benefits brokerage (group health, dental, vision, life, disability, voluntary benefits, retirement/401(k) plan design); wealth management and financial advisory through a Kestra Investment Services affiliation; and senior insurance products covering Medicare Supplement, Medicare Advantage, Part D, and long-term care. The business is fundamentally a commission-based reseller: the agency holds appointments with multiple carriers and earns commission on placed policies, with no fees charged to end consumers. Pricing is quote-based, fully dependent on individual risk factors and carrier underwriting, with umbrella coverage cited as starting at approximately $150/year.

The agency's operating model is agent-mediated and consultative — every quote routes through a licensed producer, supported by an online multi-step quote intake form, the CSR24 client portal, and a referral program. There are no proprietary technology platforms, no self-serve purchase flows, and no disclosed AI capabilities; the firm's value proposition rests on carrier breadth, human expertise, and a long-standing local brand. GTM is sales-led with a strong community engagement layer (blog content, social media, the Westfield/Jordan's Joy Legacy of Caring grant) and is concentrated geographically in a single headquarters location, despite the transportation practice serving multi-state and Canadian trucking operators. The agency has accumulated multiple carrier tier designations — including Western National Commercial Lines Circle of Excellence (2025, 2026), United Fire Group Platinum Partner Tier 1, UnitedHealthcare United Advantage Gold, Hastings Mutual Exceptional Agency, Westfield RISE, Integrity Leadership Circle, and Big I Best Practices Agency (2025) — indicating sustained top-quartile performance within its carrier networks rather than scale-driven market leadership.

Name

Mel Foster Insurance

Legal name

Mel Foster Co. Insurance Inc.

Website

https://melfosterinsurance.com

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

11–50 employees

Short description

Mel Foster Insurance is a family-owned, 100% independent insurance agency founded in 1932 in Davenport, Iowa, serving individuals, families, and businesses in the Quad Cities (Iowa/Illinois) with personal, commercial, transportation, employee benefits, wealth management, and senior insurance products placed across multiple carrier partners.

Ownership category

akta.pro rank

Headquarters

HQ city

Davenport

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commission Revenue: Mel Foster Insurance earns revenue through commissions paid by the insurance carrier companies they represent. As an independent agency, they are appointed with multiple carriers and receive a percentage of premium written on each policy placed. Revenue is therefore recurring in nature (policies renew annually) but commission-based rather than subscription-based. No fees are charged directly to end consumers for their service.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Mel Foster Insurance is a 100% independent insurance agency that distributes personal lines (auto, home, life, health, Medicare), commercial lines (business, contractors, workers comp, cyber, professional liability), transportation/trucking, employee benefits, and wealth management products on behalf of multiple carrier partners. Coverage selection, quoting, and binding are handled by licensed producers; consumers do not transact directly with carriers.

Product overview

Mel Foster Insurance is an independent insurance agency offering a comprehensive portfolio of insurance products and financial services through multiple carrier partnerships. The company provides personal insurance including auto, homeowners, high net worth, specialty dwelling, umbrella, boat, motorcycle, recreational vehicle, ATV/powersports, condo, flood, and renters coverage. Business insurance services encompass commercial, contractors, workers compensation, general liability, professional liability, cyber liability, commercial umbrella, bonds, business property, and restaurant insurance. Transportation insurance covers trucking operations across all 50 states and Canada. Employee benefits include group health, dental, disability, life, vision insurance and retirement plan design. Financial advisory services offered through partnerships include wealth management, health, life, disability, and senior insurance products. The agency operates as a 100% independent agency enabling comparison shopping across multiple carriers.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Insurance Comprehensive auto insurance coverage including collision, comprehensive, bodily injury liability, and uninsured/underinsured motorist coverage for vehicles in Iowa and surrounding areas, distributed through carrier partners.
• Homeowners Insurance Coverage for primary residences including dwelling, other structures, personal property, loss of use, medical expense, and personal liability protection, distributed through carrier partners.
• High Net Worth Insurance Specialized coverage for high-value homes, private collections, collectibles, identity theft, artwork, high-end autos, and kidnap and ransom for affluent households.
• Renters Insurance Personal property coverage against theft or damage, liability protection, and medical payments coverage for tenants, distributed through carrier partners.
• Condo Insurance H0-6 policy covering condo units where association insurance stops, protecting interior unit contents including floors, walls, cabinets and fixtures.
• Specialty Dwelling Insurance Insurance for rental properties, vacant homes, seasonal homes, older homes, homes under construction, and properties with credit issues that standard homeowners policies exclude.
• Flood Insurance Stand-alone flood insurance policy covering flood damage not included in standard homeowners insurance, with a 30-day waiting period for new policies.
• Umbrella Insurance Stand-alone liability policy providing additional coverage limits (typically $1 million up to $5 million) above underlying auto and homeowners policies to protect assets, starting at approximately $150/year for basic policies.
• Boat Insurance Comprehensive watercraft coverage including liability, physical damage, navigational area protection, agreed value coverage, and emergency assistance for boats and personal watercraft.
• Motorcycle Insurance Coverage for street cycles, Harley Davidsons, trike conversions, cruisers, classic bikes, touring bikes, dirt bikes, and ATVs with similar coverages to auto insurance.
• Recreational Vehicle Insurance Insurance for motorhomes, travel trailers, campers, and horse trailers with coverage options including stated value, agreed value, and replacement cost.
• ATV & Powersports Insurance Specialized coverage for all-terrain vehicles (ATVs) including three-, four-, or six-wheeled buggies used off-road.
• Business Insurance Commercial insurance portfolio including business insurance, contractors insurance, workers compensation, bonds, commercial property, commercial auto, general liability, professional liability, and cyber liability coverage distributed through carrier partners.
• Contractors Insurance Coverage for independent contractors including general liability, completed operations, professional liability (E&O), workers compensation, and business owners policy (BOP) for various trade professionals.
• Workers Compensation Insurance State-mandated coverage for lost wages and medical treatment from employee work-related injuries or illness, required in most states.
• General Liability Insurance Commercial General Liability (CGL) coverage protecting against bodily injury or property damage claims from business operations, covering settlements, litigation, and judgments.
• Professional Liability Insurance Errors & Omissions coverage for professionals including lawyers, doctors, architects, IT professionals, real estate brokers, consultants, and engineers covering work mistakes, undelivered results, and negligent services.
• Cyber Liability Insurance Coverage for business liability related to data breaches including legal fees, personal identity restoration, customer notification, and computer system repair.
• Commercial Umbrella Insurance Additional liability coverage up to $10 million above basic business liability limits to protect business assets from catastrophic claims.
• Bonds Various bond products including surety bonds, lost title bonds, contract surety bonds for the construction industry, and license/permit bonds for compliance with statutes and regulations.
• Business Property Insurance Commercial property coverage for company buildings and contents including lost income, business interruption, buildings, computers, money, and valuable papers.
• Restaurant Insurance Comprehensive coverage for restaurants including general liability, workers compensation, loss of income, property damage, and crime/vandalism coverage for various food service businesses.
• Transportation Insurance Coverage for trucking operations including fleet insurance and local/intermediate/long-haul routes, with options for chains, tarp, scratch and mar, rusting or pollution coverage for trucks traveling in all 50 states and Canada; supported by four dedicated transportation insurance professionals.
• Group Insurance Benefits Employee benefits brokerage including group health, dental, disability (long term and short term), life, vision insurance, and voluntary benefits through multiple carrier partnerships.
• Retirement Plans Retirement plan design and management services including automatic enrollment, deferral escalation, employer matching programs, fiduciary support, and plan governance assistance for businesses.
• Health Insurance Individual and group health insurance plan options with comparison services for deductible options, co-insurance, waiting periods, and exclusions.
• Life Insurance Term and whole life insurance products with needs analysis to determine appropriate coverage amounts based on family circumstances and financial goals.
• Disability Insurance Long term and short term disability coverage with options including non-cancelable, guaranteed renewable policies, COLA riders, and residual disability provisions.
• Wealth Management Financial advisory services including investments, asset repositioning, annuities, and tax-efficient planning through securities offered via Kestra Investment Services.
• Senior Insurance Products Medicare supplement, advantage, and prescription drug coverage along with long-term care insurance planning for seniors.

Quantifiable outcome

• Umbrella insurance starting at ~$150/year can provide $1,000,000+ in additional liability coverage — delivering substantial risk protection at minimal cost.
• +2 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Western National Insurance GroupcoreChannel Partner/ Reseller/ DistributorWestern National Insurance Group appoints Mel Foster Insurance as a licensed independent agency partner to distribute their commercial and personal lines insurance products. Mel Foster has been recognized as a Circle of Excellence Agency by Western National for 2019, 2025, and 2026 — indicating a strong, long-standing carrier partnership focused on commercial lines performance. This is a core revenue partnership enabling Mel Foster to offer Western National products to their client base in Iowa and Illinois.
• United Fire Group (UFG)coreChannel Partner/ Reseller/ DistributorUnited Fire Group has named Mel Foster Insurance as a Tier 1 Platinum Partner Agency, their highest recognition tier. This designation is based on high quality standards including written premium, loss ratio, new business production, premium growth, and policy/premium retention. Marc Engels, President, called it 'a testament to the first-class insurance experience' provided to clients. This is a preferred carrier relationship generating significant premium volume.
• Integrity InsuranceminorChannel Partner/ Reseller/ DistributorIntegrity Insurance recognized Mel Foster Insurance with Leadership Circle status for 2019, honoring top-tier agencies based on premium, profitability and growth. Integrity President Jill Wagner Kelly stated Mel Foster is 'a strong partner who is committed to providing top-notch service.' This represents a valued but secondary carrier appointment.
• Hastings Mutual Insurance CompanyminorChannel Partner/ Reseller/ DistributorHastings Mutual awarded Mel Foster Insurance the Exceptional Agency designation for 2019 results, based on premium, profitability and growth. Mel Foster was one of only two agencies in Iowa to receive this designation. Carl Lickley, VP & CMO at Hastings Mutual, called it recognition of 'remarkable results and demonstrated commitment to building a strong partnership.'
• UnitedHealthcare (via United Advantage Program)coreChannel Partner/ Reseller/ DistributorUnitedHealthcare's United Advantage program recognized the Mel Foster Insurance Employee Benefits Department with Gold tier status — a top-performing designation based on stringent requirements for volume, growth, and service quality. The Gold tier designation affords Mel Foster access to enhanced support, resources, and carrier priority within UnitedHealthcare's agent network for group health and employee benefits placement.
• WestfieldminorChannel Partner/ Reseller/ DistributorWestfield awarded Mel Foster Insurance RISE status in 2021 for demonstrating proven commitment to customers, long-term success, and superior performance industry-wide. Additionally, Mel Foster nominated the Quad Cities community organization Jordan's Joy to receive a Westfield Legacy of Caring grant to support families facing life-threatening illness — demonstrating a community partnership component to their carrier relationship.
• Kestra Investment Services, LLC (Kestra IS)coreStrategic or Co-development PartnerSecurities for the Mel Foster Insurance wealth management division are offered through Kestra Investment Services, LLC, a FINRA/SIPC member broker-dealer. Investment advisory services are offered through Kestra Advisory Services, LLC (Kestra AS). Kestra IS and Kestra AS are not affiliated with Mel Foster Insurance Company. This is a critical regulatory and distribution partnership enabling Mel Foster to offer securities and investment advisory products under proper licensing. The relationship allows Mel Foster advisors to provide investment management, annuities, and wealth management services within the insurance agency's broader financial planning offering.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Aon plc: Global professional services firm with substantial insurance brokerage and risk management operations. Comparable as a broad incumbent distributing insurance products through independent multi-carrier placements across all of Mel Foster's line categories.
• Brown & Brown Insurance: Large publicly traded insurance brokerage built on roll-up of regional independent agencies. Comparable as a scaled-up version of the same independent multi-line agency model Mel Foster operates, with diversified personal, commercial, benefits, and specialty lines.
• Marsh McLennan: Global insurance brokerage and risk advisory leader. Operates the same multi-carrier independent placement model at vastly greater scale across commercial, employee benefits, and personal lines.
• Arthur J. Gallagher & Co. Major global insurance brokerage and risk management firm. Comparable as a scaled incumbent offering the same independent multi-carrier placement model across commercial, personal, employee benefits, and specialty transportation insurance.

Direct peers

• INSURICA Insurance Management Network: Independent insurance agency network providing commercial, personal, transportation, and employee benefits through multi-carrier representation. Closely comparable mid-sized independent model with similar transportation specialty emphasis.
• USI Insurance Services: Mid-to-large U.S. insurance brokerage and consulting firm offering commercial, personal, employee benefits, and retirement services. Operates the same independent multi-carrier distribution model with comparable service line breadth.
• Insurance Office of America: Mid-sized U.S. insurance brokerage offering commercial, personal, group benefits, and surety products through independent multi-carrier distribution. Comparable peer for mid-market independent agencies with diversified lines.
• HUB International: Large North American insurance brokerage network combining multiple regional independent agencies. Highly comparable as it operates the same independent multi-carrier distribution model across commercial, personal, employee benefits, and specialty transportation lines.
• Leavitt Group: Regional insurance brokerage network of family-owned independent agencies across the western and midwestern U.S. Highly comparable as a peer network combining local-agency independence with multi-carrier access — operating in similar mid-size markets with similar personal/commercial/benefits mixes.
• AssuredPartners: National insurance brokerage built primarily through acquisition of regional independent agencies. Closely comparable in that each acquired agency retains local multi-carrier distribution autonomy while gaining scale benefits — identical economic model to Mel Foster's independent agency structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/melinsurance
• Facebookfacebook.com/MelFosterInsurance

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

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 Mel Foster Insurance