Farmers Mutual Fire Insurance Company

What Farmers Mutual Fire Insurance Company does

Farmers Mutual Fire Insurance Company is a privately-held mutual property and casualty insurer founded in 1899 in Okarche, Oklahoma, originally as the German Farmers Mutual Fire Insurance Company. The company operates exclusively within the State of Oklahoma, distributing personal-lines insurance products — homeowners insurance, Fire & Extended Coverage (a 5-year term policy), Home Guard dwelling coverage (HG3, HG2 Broadform, HG2 variants), personal and farm liability coverage, renters insurance, and farm equipment coverage — through a network of 203 independent agents across 67 counties organized into five district areas. Policyholders are the de facto members and owners of the mutual, with five of seven board members elected by the membership.

Revenue is generated through recurring annual insurance premiums, with pricing determined via licensed-agent consultation rather than public disclosure; a standard $1,000 deductible applies and no percentage deductible is required on wind/hail claims. As of 2020, total assets were $18.7 million and policyholder equity was $13.36 million. The technology stack is described as standard insurance operations tooling, with an online quoting system (aisus.com) provided to the agent channel. The company is incorporated under Oklahoma state law and reinsured with an A-rated reinsurance counterparty, and it explicitly excludes commercial business risk from its product portfolio.

Name

Farmers Mutual Fire Insurance Company

Legal name

Farmers Mutual Fire Insurance Company

Website

https://fmfic.com

Company type

Private

Founded year

1899

Operating status

Operating

Headcount range

11–50 employees

Short description

Farmers Mutual Fire Insurance Company is a 125-year-old Oklahoma mutual insurer providing personal-lines property, liability, and farm equipment coverage to homeowners, renters, and farmers across 67 counties via a 203-agent network.

Ownership category

akta.pro rank

Product category

Personal Lines Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Crop & Farm Property Insurance (FSAJACAK)

Keywords

• Property and casualty insurance
• Homeowners insurance
• Farm equipment coverage
• Liability protection
• Mutual insurance company

Headquarters

HQ city

Okarche

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Insurance Premiums: Mutual insurance company generating revenue through property and casualty insurance premiums. Policies include homeowners insurance, fire and extended coverage, liability coverage, farm equipment insurance, and personal property coverage. Premiums are recurring annual payments.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Farmers Mutual Fire Insurance Company is a mutual property and casualty insurer selling personal lines insurance to Oklahoma residents. Core products are homeowners insurance, home guard dwelling coverage, fire and extended coverage, personal liability, farm equipment coverage, and renter insurance, distributed through a 203-agent network in 67 Oklahoma counties.

Product overview

Farmers Mutual Fire Insurance Company offers a portfolio of insurance products primarily focused on property and casualty coverage for homeowners, renters, and farmers in Oklahoma. The core offerings include Homeowners Insurance (combined property and liability coverage), Home Guard (dwelling coverage with HG3, HG2 Broadform, and HG2 variants), Fire & Extended Coverage (5-year term policy with dwelling, personal property, barn, equipment, and hand tools coverage), Liability Coverage (personal and farm liability), and specialized protection products for personal property, home, and farm equipment. The company also offers Renter Insurance for non-property owners. These products are distributed through a network of 203 agents across 67 counties in Oklahoma, with policy customization available through endorsements.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeowners Insurance

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves6 records

Expansion highlights3 records

Broad incumbents

• American Family Insurance: Mutual-style personal lines insurer strong in the Midwest with homeowners, auto, farm, and ranch coverage. Comparable in serving rural and farm households in the central U.S., though at much greater scale.
• Farmers Insurance (Farmers Group): Large national P&C carrier with homeowners, auto, and small commercial coverage including farm/ranch products. Serves as a broad incumbent competitor in personal property markets where FMFIC operates.
• Erie Insurance: Mutual P&C insurer serving primarily the eastern U.S. with personal auto, home, and commercial lines. Comparable mutual structure and personal property orientation, though much larger in scale and more geographically diverse.
• State Farm Mutual Automobile Insurance Company: Largest U.S. mutual P&C insurer with broad homeowners and auto coverage including in Oklahoma. Represents the dominant incumbent against which FMFIC competes in personal property lines.
• Auto-Owners Insurance: Mid-sized mutual P&C carrier operating across the U.S. with personal and commercial lines. Relevant peer given its mutual ownership model and personal property focus, though substantially larger and more diversified than FMFIC.

Direct peers

• COUNTRY Financial: Mutual insurance company serving rural and small-town America with farm, home, auto, and life coverage. Comparable mutual structure and rural/farm customer alignment, though operates across a larger midwestern footprint.
• Mutual of Enumclaw Insurance Company: Small Pacific Northwest mutual P&C carrier focused on personal lines in Washington, Oregon, Idaho, Utah, and Montana. Comparable as a small, regionally-focused mutual insurer with personal property specialization.
• Farm Bureau Financial Group: Multi-state mutual insurance company providing farm, home, auto, and life coverage through Farm Bureau agents. Shares FMFIC's mutual ownership model and farm/rural customer base, though it operates across several states rather than Oklahoma alone.
• Oklahoma Farm Bureau Mutual Insurance Company: Oklahoma-based mutual insurer offering farm and ranch, homeowners, and auto coverage through county Farm Bureau agents. Same mutual structure, same Oklahoma geographic footprint, and same farm/rural customer focus make it the most directly comparable peer to FMFIC.

Regional players

• Shelter Insurance: Regional mutual P&C carrier headquartered in Missouri serving 17 central and southern U.S. states including Oklahoma. Comparable as a regional mutual with personal lines focus, though broader geographically and larger in scale than FMFIC.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/farmers-mutual-fire-insurance-company-of-okarche-oklahoma

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Farmers Mutual Fire Insurance Company