Preferred Mutual Insurance Company
Preferred Mutual Insurance Company is a policyholder-owned mutual P&C insurer based in New Berlin, NY, writing personal and commercial insurance across New York and Massachusetts through independent agents and its MYPreferred digital platform.
- Company typePrivate
- Founded-
- HeadquartersNew Berlin, United States
- Headcount—
- GTM typeB2B and B2C
- OfferingServices
What Preferred Mutual Insurance Company does
Preferred Mutual Insurance Company is a privately held, policyholder-owned mutual insurance carrier domiciled in New Berlin, New York, writing personal and commercial property and casualty insurance exclusively in the New York and Massachusetts markets. Its personal lines span property (homeowners, high-value home, seasonal/secondary, mobile home, condo, rented-to-others, renters), vehicle (NY and MA auto, snowmobile, boat and trailer, motor home/RV), and specialty coverage (personal umbrella, valuable possessions, above-ground pool, identity fraud, short-term rental). Its commercial book covers contractors, offices, wholesalers and distributors, building owners/lessors, food service, religious institutions, retail, services and hospitality, commercial umbrella, and commercial auto, targeting small and mid-sized businesses.
The company distributes products through an independent agent network, with agents discoverable via a zip code and agency name search on the corporate website, and operates a separate agent login portal alongside a policyholder-facing self-service platform called MYPreferred. MYPreferred supports policy review, bill payment, and online claims reporting, supplemented by a Quick Pay payment portal and a MYPreferred Mobile app. The underlying technology stack is described as a generic insurance policy management and claims processing platform with no disclosed proprietary or third-party AI components. An A.M. Best financial strength rating is displayed on the corporate site.
Preferred Mutual generates revenue through recurring insurance premiums on a monthly billing cadence, with pricing determined per quote based on risk profile and coverage selection rather than publicly disclosed rate cards. As a mutual insurer, it is owned by its policyholders rather than external shareholders, and no institutional ownership, parent company, or subsidiary structure is disclosed in the available data.
Preferred Mutual Insurance Company firmographics
Firmographics- Name
- Preferred Mutual Insurance Company
- Legal name
- Preferred Mutual Insurance Company
- Website
- https://pminsco.com
- Company type
- Private
- Operating status
- Operating
- Short description
- Preferred Mutual Insurance Company is a policyholder-owned mutual P&C insurer based in New Berlin, NY, writing personal and commercial insurance across New York and Massachusetts through independent agents and its MYPreferred digital platform.
- Ownership category
- akta.pro rank
Preferred Mutual Insurance Company industry classification
Industry- Product category
- Property and Casualty Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)
- SIC
- Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Standard Personal Auto Insurance (Liability, Collision & Comprehensive) (FSAJAAAA)
- akta.pro secondary industry
- Standalone Umbrella Liability (FSAJANAE)
Keywords
Where Preferred Mutual Insurance Company is headquartered
LocationHeadquarters
- HQ city
- New Berlin
- HQ country
- United States
- HQ region
- North America
Markets served
Preferred Mutual Insurance Company business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Insurance Premiums: Preferred Mutual Insurance Company generates revenue through insurance premiums collected from policyholders for coverage across personal and commercial lines including home, auto, and business insurance products.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal Insurance - Home, Auto, and Specialty Coverage |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Preferred Mutual Insurance Company product offering
Product offeringCore offering
Preferred Mutual Insurance Company sells personal and commercial property and casualty insurance products, including auto, home, life, umbrella, and business coverages. Policies are distributed primarily through an independent agent network across New York, Massachusetts, and select other states. The company complements its agent channel with digital self-service through the MYPreferred member portal, mobile app, and online Quick Pay system.
Product overview
Preferred Mutual Insurance Company offers a comprehensive portfolio of personal and commercial insurance products across New York and Massachusetts. The personal insurance offerings are organized into three main categories: Property coverage (including homeowners, high-value home, equipment breakdown, seasonal home, mobile home, condo, rented-to-others, and renters insurance), Vehicle coverage (auto insurance for NY and MA, snowmobile, boat & trailer, and motor home/RV), and Other/Specialty coverage (personal umbrella, valuable possessions, above ground pool, identity fraud, and short-term rental coverage). Business insurance offerings include contractor, office, wholesale/distributor, building owner/lessor, food service, religious institution, retail shop, services & hospitality, commercial umbrella, and commercial auto insurance. The company supplements its core insurance products with digital self-service tools including the MYPreferred policyholder portal and MYPreferred Mobile app for policy management, payments, and claims reporting.
Differentiator
Problem solved
Functional benefit
Brands
- MYPreferred: Policyholder portal and mobile application for managing policies, payments, and claims
Products and services
- Personal Auto Insurance
- Home Insurance
- Life Insurance
- Personal Umbrella Insurance
- Pet Insurance
- Wedding Insurance
- Business Auto Insurance
- Business Property Insurance
- General Liability Insurance
- Workers' Compensation Insurance
- Cyber Insurance
- Commercial Umbrella Insurance
- Surety Bonds
Companies that use Preferred Mutual Insurance Company
Customer profileSegments4 records
Ideal customer profiles2 records
Preferred Mutual Insurance Company technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Preferred Mutual Insurance Company partnerships and signals
Strategic signalRecent moves5 records
Expansion highlights5 records
Preferred Mutual Insurance Company competitors and assessment
Company assessmentDirect peers
- Erie Insurance: Regional mutual P&C insurer distributing through independent agents across multiple states with similar personal/commercial line breadth. Closely comparable mutual structure and multi-line product portfolio.
- Cincinnati Financial: P&C insurer with strong independent agent distribution and broad personal/commercial product set. Comparable multi-line model with overlapping commercial specialty products.
- Hanover Insurance Group: Regional P&C carrier with personal and commercial lines distributed through independent agents, with comparable specialty commercial coverages. Overlaps with Preferred Mutual in Northeast territory.
- Selective Insurance Group: Regional P&C insurer focused on commercial and personal lines via independent agents, with similarly customizable commercial packages for niche industries comparable to Preferred Mutual's contractor and specialty offerings.
- Donegal Group: Regional P&C holding company operating through mutual-like subsidiaries via independent agents. Closely comparable regional mutual structure and multi-line personal/commercial coverage.
- Plymouth Rock Assurance: Northeast-focused P&C insurer offering personal auto and homeowners in NY/MA and other Northeast states. Directly competes in the same geographic footprint with similar product lines.
- NYCM Insurance: New York-headquartered regional P&C mutual providing personal and commercial lines. Highly comparable mutual structure and concentrated Northeast geography.
Regional players
- Vermont Mutual Insurance Group: Northeast regional mutual P&C insurer distributing through independent agents. Comparable regional mutual model and multi-line personal/commercial product portfolio across overlapping Northeast states.
- Narragansett Bay Insurance Company: Rhode Island-based regional P&C insurer offering personal lines throughout the Northeast. Comparable regional multi-line personal insurance provider with independent agent distribution.
- Norfolk & Dedham Group: Massachusetts-based regional P&C mutual insurer providing personal and commercial coverage across the Northeast. Comparable regional mutual structure and product set within Preferred Mutual's core geography.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Preferred Mutual Insurance Company social profiles
Digital presencePreferred Mutual Insurance Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
Preferred Mutual Insurance Company leadership team
Management profileNumber of profiles
Preferred Mutual Insurance Company funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Preferred Mutual Insurance Company M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Preferred Mutual Insurance Company
What does Preferred Mutual Insurance Company do?
Preferred Mutual Insurance Company sells personal and commercial property and casualty insurance products, including auto, home, life, umbrella, and business coverages. Policies are distributed primarily through an independent agent network across New York, Massachusetts, and select other states. The company complements its agent channel with digital self-service through the MYPreferred member portal, mobile app, and online Quick Pay system.
Is Preferred Mutual Insurance Company a public or private company?
Preferred Mutual Insurance Company is a private company. It is classified as unknown and is currently operating.
When was Preferred Mutual Insurance Company founded?
Preferred Mutual Insurance Company was founded in -1.
Where is Preferred Mutual Insurance Company based?
Preferred Mutual Insurance Company is headquartered in New Berlin, United States, in the North America region.
How does Preferred Mutual Insurance Company make money?
One revenue line is on record: insurance Premiums.
Who are Preferred Mutual Insurance Company's main competitors?
Direct peers on record are Erie Insurance, Cincinnati Financial, Hanover Insurance Group, Selective Insurance Group, Donegal Group, Plymouth Rock Assurance and NYCM Insurance. Regional players are Vermont Mutual Insurance Group, Narragansett Bay Insurance Company and Norfolk & Dedham Group.
Does Preferred Mutual Insurance Company have an API?
No public API is recorded for Preferred Mutual Insurance Company.
What industry is Preferred Mutual Insurance Company in?
Preferred Mutual Insurance Company's product category is Property and Casualty Insurance. Its primary akta.pro industry code is FSAJAAAA, Standard Personal Auto Insurance (Liability, Collision & Comprehensive), with a secondary code of FSAJANAE, Standalone Umbrella Liability. Its NAICS code is 524126 and its SIC code is 6331.