What Makes Donegal Mutual Insurance a Reliable Choice for Your Insurance Needs?
If you are looking for a reliable and trustworthy insurance company that can provide you with comprehensive and affordable coverage for your personal, commercial, or farm needs, you might want to consider Donegal Mutual Insurance Company.
The company offers a wide range of insurance products and services to customers in 26 states across the United States.
Here, we will explore what Donegal Mutual Insurance Company is all about, what it does, where it is located, and how it can help you with your insurance needs.
What is Donegal Mutual Insurance Company?
Donegal Mutual Insurance Company is a property and casualty insurance company that operates as a subsidiary of the Donegal Insurance Group.
The Donegal Insurance Group is a holding company that consists of several insurance companies that offer personal, commercial, and farm insurance products and services.
The Donegal Insurance Group was founded in 1889 in Marietta, Pennsylvania as the Donegal and Conoy Mutual Fire Insurance Company.
The company changed its name to Donegal Mutual Insurance Company in 1957 and expanded its operations to other states over the years.
Today, the Donegal Insurance Group has over 900 employees and serves over 250,000 policyholders in 26 states.
Donegal Mutual Insurance Company Overview
Donegal Mutual Insurance Company is headquartered in Marietta, Pennsylvania and has offices in several other locations such as Le Mars, Iowa; Glen Allen, Virginia; Duluth, Georgia; Greenville, South Carolina; Marietta, Georgia; Midlothian, Virginia; Sheboygan Falls, Wisconsin; and Westminster, Maryland.
The company is licensed to sell property and casualty insurance products in all states except Alaska, Hawaii, Louisiana, Massachusetts, Nevada, New Hampshire, New York, Rhode Island, and Vermont3.
Donegal Mutual Insurance Company aims to provide its customers with quality insurance products and services that meet their needs and expectations.
The company’s mission is to be recognized as a leading regional provider of property and casualty insurance products by providing superior service to its agents and policyholders4.
Donegal Mutual Insurance Company History and Leadership Team
Donegal Mutual Insurance Company is a well-established and reputable company that has a long history of serving its customers with excellence and integrity. Here are some of the company details that you might want to know:
History and founding year: Donegal Mutual Insurance Company was founded in 1889 as the Donegal and Conoy Mutual Fire Insurance Company by a group of farmers who wanted to protect their properties from fire losses.
The company then changed its name to Donegal Mutual Insurance Company in 1957 and expanded its operations to other states over the years.
The company also acquired or merged with several other insurance companies such as Atlantic States Insurance Company, Southern Heritage Insurance Company, Southern Insurance Company of Virginia, Le Mars Insurance Company, Sheboygan Falls Insurance Company, and Michigan Insurance Company.
CEO and leadership team: The current CEO of Donegal Mutual Insurance Company is Kevin G. Burke. He has been the CEO since 2014 and has over 30 years of experience in the insurance industry.
He is also the President and CEO of the Donegal Insurance Group. The leadership team of Donegal Mutual Insurance Company consists of several senior executives who oversee different aspects of the company’s operations such as finance, underwriting, claims, marketing, sales, distribution, information technology, human resources, and legal.
According to the latest data from S&P Global Market Intelligence, Donegal Mutual Insurance Company ranked as the 87th largest property and casualty insurer in the United States based on direct premiums written in 2020.
The company had a market share of 0.2% among property and casualty insurers and wrote $638 million worth of direct premiums in 2020.
Donegal Mutual Insurance Company Partnerships and affiliates
Donegal Mutual Insurance Company has several partnerships and affiliates that help it deliver its products and services to its customers. Some of these include:
Atlantic States Group: Atlantic States Group is a subsidiary of Donegal Mutual Insurance Company that operates as an independent agency system that distributes personal and commercial insurance products through more than 2,500 independent agents in 22 states.
Southern States Group: Southern States Group is another subsidiary of Donegal Mutual Insurance Company that operates as an independent agency system that distributes personal – and commercial insurance products through more than 1,000 independent agents in 10 states.
Donegal Insurance Agency: Donegal Insurance Agency is a wholly-owned subsidiary of Donegal Mutual Insurance Company that operates as a captive agency system that distributes personal and commercial insurance products through more than 50 exclusive agents in Pennsylvania, Maryland, and Virginia.
Donegal Financial Services Corporation: Donegal Financial Services Corporation is a wholly-owned subsidiary of Donegal Mutual Insurance Company that provides investment advisory and trust services to individuals and businesses through its subsidiary, Union Community Bank.
Insurance Alliance of Central Pennsylvania: Insurance Alliance of Central Pennsylvania is a strategic alliance of 10 independent insurance agencies that represent Donegal Mutual Insurance Company and other insurance carriers in central Pennsylvania. The alliance was formed in 2003 to enhance the competitive position and market share of its members.
What services does Donegal Mutual Insurance Company offer?
Donegal Mutual Insurance Company offers a variety of property and casualty insurance products and services that can help you protect your personal, commercial, or farm assets from various risks and losses. Here are some of the services that the company offers:
Personal insurance:
This is a type of insurance that provides coverage for your personal belongings and liabilities such as your home, car, boat, motorcycle, or personal umbrella.
It can help you pay for the repair or replacement of your damaged or stolen property, as well as the medical or legal expenses that may arise from an accident or injury involving you or your property. Some of the personal insurance products that Donegal Mutual Insurance Company offers include:
Homeowners insurance:
This is a type of insurance that covers your home and its contents from perils such as fire, theft, vandalism, windstorm, hail, lightning, or water damage.
Furthermore, it also covers your personal liability if someone gets injured on your property or if you cause damage to someone else’s property. Homeowners insurance can also cover additional living expenses if you have to temporarily move out of your home due to a covered loss.
Auto insurance:
This is a type of insurance that covers your vehicle and its occupants from damages or injuries caused by collisions, theft, vandalism, fire, or other incidents. Auto insurance also covers your liability if you cause an accident that injures someone else or damages their property.
Moreover, it can also cover medical payments, uninsured/underinsured motorist protection, towing and labor costs, rental reimbursement, and roadside assistance.
Boat insurance:
This is a type of insurance that covers your boat and its equipment from damages or losses caused by accidents, theft, vandalism, fire, or other perils.
Additionally, it also covers your liability if you cause an accident that injures someone else or damages their property while using your boat. Boat insurance can also cover medical payments, uninsured/underinsured boater protection, emergency assistance, and towing costs.
Motorcycle insurance:
This is a type of insurance that covers your motorcycle and its accessories from damages or losses caused by collisions, theft, vandalism, fire, or other incidents. Motorcycle insurance also covers your liability if you cause an accident that injures someone else or damages their property while riding your motorcycle.
It can also cover medical payments, uninsured/underinsured motorist protection, custom parts and equipment, and roadside assistance.
Personal umbrella insurance:
This is a type of insurance that provides extra liability coverage beyond the limits of your primary policies such as homeowners, auto, boat, or motorcycle insurance.
It can help you pay for the legal fees and judgments that may result from a lawsuit against you due to a serious accident or injury involving you or your property. Personal umbrella insurance can also cover libel, slander, false arrest, or invasion of privacy claims.
Commercial insurance:
This is a type of insurance that provides coverage for your business and its assets from various risks and losses such as property damage, liability claims, business interruption, workers’ compensation, or cyberattacks.
It can help you pay for the repair or replacement of your damaged or stolen business property, as well as the medical or legal expenses that may arise from an accident or injury involving your business or its employees.
Some of the commercial insurance products that Donegal Mutual Insurance Company offers include:
Businessowners policy:
BOP is a type of commercial insurance package that combines property and liability coverage for small to medium-sized businesses. A BOP typically covers your business premises and its contents from perils such as fire, theft, vandalism, windstorm, hail, or water damage.
Furthermore, it also covers your business liability if someone gets injured on your premises or if you cause damage to someone else’s property due to your business operations. A BOP can also cover business income loss if you have to temporarily close your business due to a covered loss.
Donegal Mutual Insurance Company Financial Aspects
The company’s revenue for the year 2020 was $638 million, which was a decrease of 3.6% from the previous year. The company’s net income for the year 2020 was $28.8 million, which was an increase of 16.4% from the previous year1.
The assets as of December 31, 2020 were $2.3 billion, which was an increase of 5.9% from the previous year.
On the other hand, the liabilities as of December 31, 2020 were $1.7 billion, which was an increase of 5.4% from the previous year. The company’s policyholders’ surplus as of December 31, 2020 was $608 million, which was an increase of 7.6% from the previous year.
The company’s combined ratio for the year 2020 was 97.9%, which was an improvement of 2.5 percentage points from the previous year.
The ratio measures the profitability of the company’s underwriting operations by comparing the losses and expenses to the premiums earned. A combined ratio below 100% indicates that the company made a profit from its underwriting activities.
The company’s return on equity for the year 2020 was 4.9%, which was an improvement of 0.7 percentage points from the previous year.
The return on equity measures the profitability of the company’s shareholders by comparing the net income to the average equity. A higher return on equity indicates that the company generated more income for each dollar of equity invested.
Donegal Mutual Insurance Company Financial Strengths and Ratings
The company’s financial strength rating from A.M. Best is A (Excellent), which indicates that the company has a strong ability to meet its ongoing financial obligations to its policyholders and creditors.
The company’s long-term issuer credit rating from A.M. Best is a+, which indicates that the company has a strong ability to meet its ongoing senior financial obligations.
Donegal Mutual Insurance Company Customer Reviews
The customer experience and reviews of Donegal Mutual Insurance Company are mixed, depending on the source and the product.
– Donegal Mutual Insurance Company has a moderate rating of 3 out of 5 stars from Clearsurance, which is based on customer reviews, coverage, and more.
Clearsurance highlights some of the pros and cons of Donegal Mutual Insurance Company, such as explaining coverage well, offering good discounts, having flexible billing options, but also having no online quotes, poor claim experience, and rate increases.
– Donegal Mutual Insurance Company also has a low rating of 2.1 out of 5 stars from Trustpilot, which is based on customer feedback, service, and quality.
Trustpilot features some of the negative reviews from customers who have experienced issues with Donegal Mutual Insurance Company, such as poor communication, rude customer service, delayed payments, and denied claims.
– Donegal Mutual Insurance Company ranks below average in J.D. Power’s customer satisfaction study for auto insurance, which measures how customers feel about their interactions with their auto insurance providers.
Donegal Mutual Insurance Company scored 791 out of 1,000 points, which is lower than the industry average of 835.
– However, Donegal Mutual Insurance Company also has some positive reviews from customers who have praised its products, prices, agents, and service. For example, on Birdeye, Donegal Mutual Insurance Company has a high rating of 4.8 out of 5 stars from 6 reviews.
Some customers compliment Donegal Mutual Insurance Company for its competitive rates, comprehensive coverage, friendly agents, and prompt service.
Pros and Cons of Donegal Mutual Insurance Company
Some of the pros and cons of using Donegal Mutual Insurance Company for your insurance needs are as follows:
Pros:
– Donegal Mutual Insurance Company is a well-established and reputable company that has a long history of serving its customers with excellence and integrity. The company was founded in 1889 and has a high rating of A (Excellent) from A.M. Best.
– Donegal Mutual Insurance Company offers a wide range of property and casualty insurance products and services that can help you protect your personal, commercial, or farm assets from various risks and losses.
The company offers homeowners insurance, auto insurance, umbrella insurance, boatowners insurance, dwelling fire insurance, business owners insurance, commercial auto insurance, liquor liability insurance, employment practices insurance, contractors errors & omissions insurance, farm insurance, title insurance, and more.
– The Company offers affordable rates and good discount offerings for its customers. The company has some of the most competitive rates in the market and provides discounts for bundling policies, having multiple vehicles, installing safety devices, being a good student, being a good driver, and more.
– Donegal Insurance has flexible billing options and payment methods for its customers. The company allows you to choose from various payment plans such as monthly, quarterly, semi-annually, or annually. You can also pay your premiums online, by mail, by phone, or through automatic withdrawal.
– The Company has good customer feedback and explains coverage well to its customers. The company has a moderate rating of 3 out of 5 stars from Clearsurance, which is based on customer reviews, coverage, and more. Clearsurance highlights that the company explains coverage well and provides transparent pricing to its customers.
Cons:
– Donegal Mutual Insurance Company is not a BBB accredited or rated company. The company does not have a profile on the Better Business Bureau website, which means that it does not participate in the BBB’s accreditation program or respond to customer complaints filed through the BBB.
– Donegal Insurance does not offer coverage in half the nation. The company is licensed to sell property and casualty insurance products in all states except Alaska, Hawaii, Louisiana, Massachusetts, Nevada, New York, and Vermont. This means that you may not be able to get coverage from the company if you live or move to one of these states.
– Donegal Mutual Insurance Company has a dated website and no online quotes. The company’s website is not very user-friendly or modern and does not provide online quotes for its products. You have to contact an agent or fill out a form to get a quote from the company.
– Donegal Mutual Insurance Company has poor claim experience and rate increases for some customers. The company has a low rating of 2.1 out of 5 stars from Trustpilot, which is based on customer feedback, service, and quality. Trustpilot features some of the negative reviews from customers who have experienced issues with the company’s claim process, customer service, communication, and rate increases.
How Does Donegal Mutual Insurance Company Compare to Other Insurance Companies
Donegal Mutual Insurance Company is one of the many insurance companies that offer property and casualty insurance products and services in the United States.
However, how does it compare to other insurance companies in the market? Here are some of the factors that you might want to consider when comparing Donegal Mutual Insurance Company to other insurance companies:
– Coverage options:
Donegal Insurance as well offers a wide range of coverage options for personal, commercial, and farm insurance needs.
The company also offers homeowners insurance, auto insurance, umbrella insurance, boatowners insurance, dwelling fire insurance, business owners insurance, commercial auto insurance, liquor liability insurance, employment practices insurance, contractors errors & omissions insurance, farm insurance, title insurance, and more.
However, the company does not offer some of the coverage types that other insurers may offer, such as life insurance, health insurance, pet insurance, or travel insurance.
– Pricing and discounts:
Furthermore, Donegal Insurance offers affordable rates and good discount offerings for its customers. The company has some of the most competitive rates in the market and provides discounts for bundling policies, having multiple vehicles, installing safety devices, being a good student, being a good driver, and more.
However, the company does not offer online quotes for its products and you have to contact an agent or fill out a form to get a quote from the company. The company’s rates may also vary depending on your location, driving record, credit score, and other factors.
– Customer service and claims:
Additionally,the Company has a moderate rating of 3 out of 5 stars from Clearsurance, which is based on customer reviews, coverage, and more.
Clearsurance highlights that the company explains coverage well and provides transparent pricing to its customers.
However, the company also has a low rating of 2.1 out of 5 stars from Trustpilot, which is based on customer feedback, service, and quality. Trustpilot features some of the negative reviews from customers who have experienced issues with the company’s claim process, customer service, communication and rate increases
The company also ranks below average in J.D. Power’s customer satisfaction study for auto insurance, which measures how customers feel about their interactions with their auto insurance providers.
– Financial strength and stability:
Moreover,the Company has a high rating of A (Excellent) from A.M. Best, which indicates that the company has a strong ability to meet its ongoing financial obligations to its policyholders and creditors.
The company also has a long history of serving its customers with excellence and integrity since 1889. The company’s revenue for the year 2020 was $638 million which was a decrease of 3.6% from the previous year. The company’s net income for the year 2020 was $28.8 million which was an increase of 16.4% from the previous year.
These are some of the factors that you might want to consider when comparing Donegal Mutual to other insurance companies in the market.
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Greetings, I’m Evans Odundo, a dedicated professional holding a Master’s Degree in Software Engineering from Daystar University.
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