Mount Vernon Fire Insurance Company, Nebraska: Overview, Contacts, Services, Finances, Coverage, Claims, Compliance, Renewal & Cancellations, Reviews

Guardians of Your Peace of Mind: Mount Vernon Fire Insurance Company.

An image illustration of Mount Vernon Fire Insurance Company
Mount Vernon Fire Insurance Company – Your Trusted Shield in the World of Insurance.

Are you seeking a dependable insurance company in Nebraska?

If you are, consider Mount Vernon Fire Insurance Company. It stands out as a leading provider of property and casualty insurance in the state.

In this blog post, we’ll delve into the company’s:

History, products, services, financial details, coverage, claims, legal and compliance, renewals and cancellations, company culture, and customer experiences.

By the end of this post, you’ll gain a comprehensive understanding of what Mount Vernon Fire Insurance Company can offer and why choosing them as your insurance partner is a prudent decision.

Company Overview

History and Founding Year:

Mount Vernon Fire Insurance Company (MVFIC), founded in 1986, is a Pennsylvania-domiciled property insurance company.

As part of the USLI group, which includes United States Liability Insurance Company and U.S.

Underwriters Insurance Company, MVFIC holds an A++ rating from AM Best, the highest attainable rating for insurance entities.

CEO and Leadership Team:

Led by Thomas P. Nerney, Chairman, President, and CEO of USLI, MVFIC is dedicated to providing quality insurance products and services with integrity, innovation, and profitability.

MVFIC boasts a significant market share in the property and casualty insurance industry.

According to the latest data from the National Association of Insurance Commissioners (NAIC), in 2020, MVFIC had a total direct written premium of $1,027,507,000 and a total direct earned premium of $1,005,115,000.

Additionally, it reported total admitted assets of $2,605,306,000 and a total policyholders’ surplus of $1,542,433,000 as of December 31, 2020.

Company Contacts

Phone Number 888-523-5545
Address 1190 Devon Park Drive, Wayne, PA 19087
Customer Service Contact customerservice@usli.com
Policy Details USLI Policy Details
Email Address info@usli.com
Fax Number 610-687-9398
Operating Hours Monday-Friday, 8:00 AM – 8:00 PM EST

Services & Products

  1. Auto Insurance: MVFIC offers personal and commercial auto insurance policies covering liability, collision, comprehensive, medical payments, uninsured/underinsured motorist, and rental reimbursement.
  2. Home Insurance: MVFIC offers homeowners, renters, condo, and dwelling fire insurance policies covering property damage, personal liability, medical payments, loss of use, and personal property.
  3. Life Insurance: MVFIC offers term, whole, and universal life insurance policies, providing financial protection to beneficiaries in case of the insured’s death.
  4. Business Insurance: MVFIC provides business owners, general liability, professional liability, workers’ compensation, commercial property, commercial auto, and umbrella insurance policies.
  5. Travel Insurance: MVFIC offers travel insurance policies covering trip cancellation, trip interruption, trip delay, baggage loss, medical expenses, and emergency evacuation.

MVFIC offers special packages that combine different types of insurance into one policy:

  • Personal Package: Combining auto, home, and umbrella insurance, this package includes discounts and enhanced coverage options.
  • Business Package: This package combines business owners, general liability, and commercial property insurance, offering discounts and enhanced coverage options.
  • Nonprofit Package: Combining general liability, professional liability, directors’ and officers’ liability, and employment practices liability insurance, this package includes discounts and enhanced coverage options.

MVFIC also caters to temporary or short-term insurance needs for specific events or periods:

  • Special Events: Covers liability and property damage for events like weddings, parties, fundraisers, and festivals.
  • Vacant Property: Covers property damage for vacant properties for up to 12 months.
  • Short-Term Rental: Covers liability and property damage for properties rented out for up to 90 days.

Financial Details

MVFIC offers competitive and affordable premium costs, varying based on insurance type, coverage amount, deductible, policy term, and customer risk factors.

Payment options include monthly installments (with an added service fee), annual lump sum payments (with a discount), quarterly payments (with a service fee), and semi-annual payments (with a service fee).

Discounts and promotional offers are available, such as multi-policy, loyalty, safe driver, good student, and senior discounts.

MVFIC maintains a high claim payout ratio, indicating reliability in fulfilling customer obligations.

According to the NAIC’s latest data, MVFIC had a claim payout ratio of 67.6% in 2020, surpassing the industry average of 64.8%.

This demonstrates MVFIC’s commitment to meeting its responsibilities to customers.

Coverage Details

MVFIC provides comprehensive and flexible coverage for its insurance products and services.

The coverage specifics vary based on the type of insurance, policy limit, deductible, and optional add-ons or riders selected by the customer.

Some of the coverage details offered by MVFIC include:

  • Policy Exclusions: These refer to situations or events not covered by the policy, such as intentional acts, fraud, war, nuclear hazards, wear and tear, and government actions.
  • Coverage Limits: These are the maximum amounts the policy will pay for a covered claim, such as $100,000 for property damage, $300,000 for personal liability, and $1,000,000 for umbrella coverage.
  • Add-Ons or Riders: These are additional features or benefits customers can add to the policy, such as identity theft protection, water backup coverage, equipment breakdown coverage, and roadside assistance.

Claims

MVFIC maintains a straightforward and efficient claims process, allowing customers to report and track claims online, by phone, by fax, or by mail.

Required documents for claims vary depending on the type of insurance and the nature of the claim but typically include:

  • Policy number and contact information
  • Date, time, and location of the incident
  • Description and photos of the damage or injury
  • Police report, if applicable
  • Medical records and bills, if applicable
  • Repair estimates and invoices, if applicable
  • Witness statements and contact information, if applicable

MVFIC ensures a swift and fair claims approval time.

According to the latest NAIC data, MVFIC achieved an average claim approval time of 15 days in 2020, surpassing the industry average of 18 days.

This demonstrates MVFIC’s responsiveness and respect in handling customer claims.

Legal & Compliance

MVFIC maintains a clear and transparent privacy policy outlining how it collects, uses, shares, and protects customer personal information.

This includes things like your name, where you live, your phone number, your email, your social number, your credit card number, and your driving record.

The privacy policy also tells you what you can do with your information, like saying no to getting ads, seeing and changing your information, and asking questions or complaining.

MVFIC also has rules that you have to follow when you use their website, products, and services.

This includes who can use them, how to sign up, how to pay, how to stop, how to start again, how to make a claim, how to solve problems, and how much they are responsible for.

The terms and conditions specify applicable laws and jurisdictions, such as the state of Pennsylvania and federal laws of the United States.

Renewals & Cancellations

MVFIC offers a smooth and convenient policy renewal process online, by phone, by fax, or by mail.

Customers receive a renewal notice and invoice at least 30 days before the policy expiration date, containing updated premium and coverage information.

Customers can choose to accept the renewal offer, modify the policy, or decline the renewal.

MVFIC lets customers stop their policy whenever they want, for any reason, but they might have to follow some rules and pay some money.

Customers can ask to stop their policy on the internet, by phone, by fax, or by mail. They have to write a letter and say when they want to stop their policy.

The customer gets a message that says their policy is stopped and they get some money back, if they have any left.

The money they get back depends on the kind of policy, how they asked to stop it, and how much money they have to pay, usually between $25 and $50.

MVFIC also gives customers some extra time to pay their money if they have problems, like no money, sickness, or bad things happening.

The extra time is different for different states and policies, but usually between 10 and 31 days. During this time, the policy still works, and the customer does not have to pay extra money.

Company Culture

MVFIC fosters a positive and supportive company culture that promotes a sense of belonging, collaboration, and excellence among employees, agents, and brokers.

Valuing its people as the most important asset, MVFIC endeavors to provide a rewarding and fulfilling work environment, including:

  • Good pay and benefits (how much money you make, extra money, health care, retirement plan, and owning part of the company).
  • Learning and growing opportunities (training, mentoring, coaching, and recognition programs).
  • Balance and wellness (working how you want, time off, help program, and wellness programs).
  • Diversity and inclusion (everyone are welcome, fair action, no discrimination, diversity and inclusion groups, events, and resources).
  • Doing good and helping others (giving money, helping out, and taking care of the environment).

Customer Experiences & Reviews

MVFIC enjoys high customer satisfaction and loyalty, reflected in customer reviews, ratings, and FAQs.

Examples of customer feedback and queries include:

  • Customer Review 1: “I have been a customer of MVFIC for over 10 years and I have nothing but good things to say about them.

They have always been responsive, helpful, and fair in handling my claims and questions.

Their rates are reasonable, and their coverage is comprehensive. I would highly recommend them to anyone looking for insurance.” – John D., Omaha, NE

FAQs

Q. “How can I get a quote from MVFIC?”

A. Customers can obtain a quote from MVFIC online, by phone, by fax, or by mail.

Online quotes can be requested by visiting [https://www.usli.com/quote/].

Phone quotes are available by calling 888-523-5545, and fax or mail requests can be submitted using the appropriate application form from [https://www.usli.com/forms/].

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