Mountain Valley Indemnity Company, New York: Overview, Contacts, Services, Finances, Coverage, Claims, Compliance, Renewal & Cancellations, Reviews

A Trusted Name in Insurance Services: Mountain Valley Indemnity Company.

An image illustration of Mountain Valley Indemnity Company
Mountain Valley Indemnity Company: Your Trusted Partner for Insurance Protection.

Mountain Valley Indemnity Company (MVIC) operates as a personal insurance provider, extending homeowners and renters insurance across New York and other states.

MVIC is a component of the National General Insurance Group, a leading property and casualty insurer in the United States.

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

History, its array of products and services, financial particulars, coverage offerings, claims procedure, legal aspects, renewal and cancellation policies, corporate culture, and customer feedback.

Company Overview

History and Founding Year:

MVIC originated in 2000 as a subsidiary of Adirondack Insurance Exchange, a mutual insurer with operations in New York.

MVIC’s headquarters can be found in Albany, New York, with a regional office situated in Winston-Salem, North Carolina.

CEO and Leadership Team:

The company’s leadership is under CEO Barry Karfunkel and President Robert Karfunkel.

Who also serve as co-chairmen of National General Holdings Corp. MVIC holds a 0.17% share in New York’s homeowners’ insurance market and a 0.07% stake in the renter’s insurance sector.

With a staff of approximately 100 employees, MVIC caters to over 50,000 policyholders.

Company Contacts

Category Information
Phone Number 888-980-7647
Address P.O. Box 1623, Winston-Salem, NC 27102
Customer Service Email Service@NGIC.com
Policy Details Homeowners and renters insurance policies with various coverage options and deductibles
Email Address Service@NGIC.com
Fax Number 800-924-0273
Operating Hours 8 a.m. to 9 p.m. EST, Monday through Friday

For more information on the company’s policies and services, visit their website.

Services & Products

Mountain Valley Indemnity Company specializes in two primary insurance products: homeowners and renters’ insurance.

Homeowners insurance safeguards your home and personal belongings from perils such as fire, theft, vandalism, weather-related damage, and more.

Renters insurance covers your personal property and liability when renting a home or apartment.

Both types of insurance also provide coverage for additional living expenses if you need to temporarily relocate due to a covered loss.

MVIC offers various policy packages and bundles, allowing you to tailor your coverage to your specific needs and preferences.

For homeowners, you can select from standard, enhanced, or premium coverage levels.

Optional add-on coverages include identity theft protection, equipment breakdown, water backup, and personal umbrella liability.

Renters can choose from basic or comprehensive coverage levels and add optional coverages such as replacement cost or scheduled personal property.

It’s worth noting that MVIC does not extend international coverage for its policies.

If you plan to travel abroad, consider purchasing travel insurance from National General Travel Insurance.

Additionally, MVIC does not offer short-term policies; their policies require a commitment of at least one year.

Financial Insights

Mountain Valley Indemnity Company premium costs for policies vary depending on factors such as location, home value, coverage amount, deductible, credit score, claims history, and eligible discounts.

You can obtain a free quote by visiting their website or calling their phone number.

You can also compare MVIC’s rates with those of other insurers using online tools, such as [this one].

MVIC offers multiple payment options for its policies, allowing you to pay monthly, quarterly, semi-annually, or annually via credit card, debit card, electronic funds transfer (EFT), check, or money order.

You also have the option to enroll in automatic payments or paperless billing for added convenience.

Payments can be made online [here] or by calling the company’s phone number.

The company provides various discounts and promotional offers.

For example, you can save money by bundling your homeowners and renters policies with MVIC or with other National General products, such as auto or motorcycle insurance.

MVIC boasts a claim payout ratio of 66%, signifying that it disburses $0.66 for every $1 collected in premiums.

This ratio slightly exceeds the industry average of 64%, indicating MVIC’s comparative generosity and efficiency in honoring claims for its policyholders.

Coverage Specifics

Mountain Valley Indemnity Company policies come with exclusions and limitations that necessitate understanding before purchasing.

Notably, MVIC does not cover damage or loss caused by war, nuclear hazards, intentional acts, government actions, earth movement, power failures, or wear and tear.

Coverage limits are also imposed on specific items or categories of personal property, such as jewelry, furs, silverware, firearms, money, or business property.

Refer to your policy documents for the complete list of exclusions and limits.

MVIC additionally offers optional add-ons or riders to enhance your coverage.

Examples include identity theft protection, covering expenses and legal fees related to identity restoration in case of theft, and equipment breakdown coverage, addressing the repair or replacement costs of appliances, electronics, or systems that fail due to mechanical or electrical issues.

You can find the full list of add-ons and riders on the company’s website.

Filing Claims

MVIC maintains a straightforward and convenient claims process for covered losses.

You can report a claim online [here] or by contacting the company’s 24-hour claim center at 888-980-7647.

Provide necessary information, including your policy number, contact details, date and time of loss, description of the incident, and any available photos or documents.

You must also take measures to protect your property from further damage and cooperate with the company’s adjusters and investigators.

Once your claim is filed, MVIC will assign a claim representative to oversee the process.

This representative will review your policy, assess the damage, estimate repair costs, determine coverage, and establish the payment amount.

They will also address any questions and keep you informed about your claim’s progress.

MVIC’s goal is to resolve claims swiftly and equitably.

The average claim approval time for MVIC stands at 10 days, which is faster than the industry average of 14 days.

Keep in mind that actual processing times may vary based on the complexity and severity of your claim.

Legal & Compliance

MVIC is committed to respecting your privacy and adheres to all relevant laws and regulations concerning the handling of personal data.

The company has a comprehensive privacy policy that outlines how it collects, utilizes, shares, and safeguards your information.

You can access the privacy policy [here]. Furthermore, MVIC provides the option to opt out of certain data sharing practices by getting in touch with the company’s customer service.

In addition to its privacy policy, MVIC has established terms and conditions governing your use of its website and services.

You can review these terms and conditions [here]. Accessing or utilizing the company’s website or services implies your agreement to abide by these terms and conditions.

Renewals & Cancellations

MVIC policies are renewable on an annual basis, and you will receive a renewal notice from the company before your policy expires.

The renewal process can be completed online [here] or by contacting the company via phone.

This also presents an opportunity to make adjustments to your policy, such as updating your coverage, deductible, or payment method.

Should you wish to cancel an MVIC policy, you have the flexibility to do so at any time.

Cancellation can be initiated online [here] or by calling the company’s phone number.

To facilitate the process, you will need to provide a written request including your name, policy number, date of cancellation, and reason for cancellation.

Additionally, any outstanding balance on your policy will need to be settled. MVIC commits to refunding any unused premium within 30 days of cancellation.

It’s worth noting that MVIC does not impose cancellation fees for its policies.

However, cancelling your policy prior to its expiration date may result in a loss of discounts or benefits.

Additionally, cancelling within the first 60 days of policy inception may incur a short-rate penalty.

MVIC policies include a grace period of 10 days for late payments.

This means you have a 10-day window following your due date to make premium payments without risking loss of coverage or incurring late fees.

However, should you fail to make payment within the grace period, MVIC reserves the right to cancel your policy due to non-payment.

Company Culture

MVIC fosters a positive and supportive company culture that places value on both its employees and customers.

Employees at MVIC enjoy competitive compensation, benefits, training, development opportunities, recognition, and avenues for personal growth.

The company also encourages its staff to engage in various community service and charitable activities, such as volunteering in local schools, blood donations, and supporting disaster relief efforts.

At its core, MVIC is committed to providing customers with exceptional service, high-quality products, and fair pricing.

The company actively seeks customer feedback and suggestions, consistently refining its processes and systems to meet customer needs and expectations.

MVIC upholds a standard of treating customers with respect, honesty, and professionalism in all interactions.

Customer Experiences and Reviews

MVIC has garnered mixed reviews from its customer base.

Some customers commend the company for its prompt and accommodating claims service, comprehensive coverage options, and competitive rates.

In contrast, others express dissatisfaction with MVIC, citing poor communication, frequent rate hikes, and low claim payouts.

Review 1: “I have been with Mountain Valley for over 10 years, and I have never had any issues with them.

They always pay my claims promptly and fairly. They also offer great discounts and flexible payment options.

I would highly recommend them to anyone looking for a reliable and trustworthy insurance company.” (Rating: 5 stars out of 5)

FAQs

  • Q: How do I report a claim to MVIC?
  • A: You can report a claim to MVIC online here or by calling the company’s 24-hour claim center at 888-980-7647.

You will need to provide some information such as your policy number, contact details, date and time of loss, description of loss, and photos or documents if available.

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