Farm & Home Mutual Insurance Association

What Farm & Home Mutual Insurance Association does

Sherrill Mutual Fire Insurance Association, doing business as Sherrill Mutual Insurance, is a community-based property and casualty mutual insurance company founded in 1885 by a group of local farmers in Sherrill, Iowa. The company's core function is underwriting property insurance coverage — originally fire-only and now extended to wind, equipment collision, inland marine, and equipment breakdown — for property owners, farmers, and residents in five northeastern Iowa counties: Dubuque, Clayton, Delaware, Jones, and Jackson. The company is governed by a board of directors composed of four local farmers and an insurance agent, reflecting its policyholder-owned mutual structure.

Operationally, the company runs on a standard insurance back-office stack: a public-facing website for quote/referral requests, an InvoiceCloud integration for online premium payments, and a claims reporting interface. There is no proprietary technology, no proprietary AI or data assets, and no mobile app. Distribution is dual-channel: independent local insurance agents/agencies provide personalized consultation and policy servicing, while the website offers self-service for quote initiation, payment, and claims. The company does not disclose pricing; premiums are determined by individual risk assessment and billed on an annual subscription basis.

Revenue is generated almost entirely through recurring property and casualty insurance premiums from individual and small-business policyholders in its five-county footprint. The company is supported by a strategic/reinsurance partnership with Grinnell Mutual, an Iowa-based mutual insurer that provides reinsurance capacity and operational support to smaller regional mutuals. As a member-owned mutual, Sherrill has no external shareholders, no public listing, no disclosed headcount, and no publicly available financials.

Name

Farm & Home Mutual Insurance Association

Legal name

Sherrill Mutual Fire Insurance Association

Website

https://fhmutual.com

Company type

Private

Founded year

1885

Operating status

Operating

Headcount range

11–50 employees

Short description

Sherrill Mutual Fire Insurance Association is a policyholder-owned mutual property and casualty insurer, founded in 1885, serving property owners, farmers, and residents in five northeastern Iowa counties with fire, wind, equipment, and inland marine coverage distributed via local independent agents.

Ownership category

akta.pro rank

Product category

Property & Casualty Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Agencies and Brokerages (524210)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Crop & Farm Property Insurance (FSAJACAK)

akta.pro secondary industry

Homeowners Insurance (FSAJACAA)

Keywords

• Property insurance
• Mutual insurance
• Fire insurance
• Inland marine coverage
• Equipment breakdown coverage

Headquarters

HQ city

Washington

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. Property & Casualty Insurance Premiums: Sherrill Mutual Fire Insurance Association generates revenue through insurance premiums collected from policyholders. As a mutual insurance company founded in 1885, they operate on a subscription/recurring premium model where policyholders pay periodic premiums for coverage against fire, wind, equipment collision, inland marine, and other property risks. The company is managed by a board of directors comprised of local farmers and an insurance agent, indicating a member-owned mutual structure.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Farm & Home Mutual Insurance Association is a mutual property insurance company selling fire, wind, equipment collision, inland marine, and equipment breakdown coverage to property owners, farmers, and residents in five northeastern Iowa counties. Policies are quoted individually based on risk, billed annually, and supported by local agents handling claims and policy service.

Product overview

Sherrill Mutual Fire Insurance Association offers a single core insurance product platform focused on property protection. The core offering is fire insurance, which has been expanded over time to include wind coverage, equipment collision coverage, inland marine coverage, and equipment breakdown coverage as modular add-on coverages. The company also provides claims service and quote/referral services. All products are distributed through a network of local agents and offered to policyholders in Dubuque, Clayton, Delaware, Jones, and Jackson counties in Iowa.

Differentiator

Problem solved

Functional benefit

Products and services

• Fire Insurance Core property insurance product providing coverage against fire damage to insured properties, originally founded in 1885 to share costs of rebuilding after fire losses. Targeted at property owners in Dubuque, Clayton, Delaware, Jones, and Jackson counties in Iowa.
• Wind Coverage Property insurance coverage protecting against wind damage, expanding beyond the original fire-only coverage. Targeted at property owners in the company's five-county northeastern Iowa service area.
• Equipment Collision Coverage
• Inland Marine Coverage
• Equipment Breakdown Coverage

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Grinnell MutualcoreStrategic or Co-development PartnerSherrill Mutual Fire Insurance Association displays the Grinnell Mutual logo on their website footer, indicating a strategic partnership or reinsurance arrangement. Grinnell Mutual is a well-known mutual insurance company based in Grinnell, Iowa that provides reinsurance and support services to smaller mutual insurance companies in the region. This partnership likely provides Sherrill Mutual with reinsurance capacity and operational support.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• COUNTRY Financial: Midwest-focused insurance and financial services carrier serving rural and suburban customers across multiple lines including property. Comparable in customer demographic and regional focus though broader in product portfolio.
• State Farm: Largest U.S. P&C mutual carrier with substantial homeowners and farm/ranch property offerings in Iowa. Competes for the same rural and small-town property owners via an agent network in the same geography.
• Nationwide Mutual Insurance Company: Large mutual P&C carrier with significant rural and farm customer segments across Iowa. Broad incumbent offering property, auto, and farm coverage that overlaps with Sherrill's product set in the same five-county area.
• Auto-Owners Insurance: Midwest-headquartered mutual P&C insurer distributed exclusively through independent agents. Comparable mutual structure and agent-driven property and casualty distribution model, though operating across a much wider geography.
• Cincinnati Financial: Mutual P&C insurer with a strong independent-agent distribution model across the Midwest. Compares on mutual ownership structure and agent-driven property distribution, though at significantly greater scale.

Direct peers

• EMC Insurance Companies: Iowa-headquartered P&C carrier with commercial and personal lines, including property coverage for rural and small-town customers. Comparable Midwest regional P&C peer with similar Iowa roots.
• West Bend Mutual Insurance Company: Wisconsin-based mutual P&C insurer with a similar community-based model and farm/agri property focus in the Upper Midwest. Closely comparable in mutual structure, regional scope, and rural customer base.
• Grinnell Mutual: Iowa-based mutual insurer and Sherrill's named strategic partner/reinsurer. Operates a similar mutual P&C model with regional focus and provides reinsurance capacity to smaller Iowa mutuals, making it both a peer and a counterparty.
• Farm Bureau Financial Group: Iowa-affiliated P&C and life insurer with strong rural and farm customer base across the Midwest. Competes for the same rural property owners and farmers in Iowa that Sherrill serves.
• Iowa Mutual Insurance Association (generic Iowa farm mutual peer set): Iowa-based mutual property insurer serving rural Iowa policyholders with farm and residential property coverage. Directly comparable in size, mutual structure, and rural Iowa customer base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/FarmHomeMutual

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 Farm & Home Mutual Insurance Association