Penn Millers Insurance Company is a well-established insurance provider specializing in commercial agriculture products, particularly for feed, grain, and fertilizer.
Founded in 1887 by Pennsylvania mill owners seeking affordable insurance due to the risks of grain dust, Penn Millers has a long and successful history serving the agribusiness market.
History of Penn Millers Insurance Company
- 1887: Founded in Wilkes-Barre, Pennsylvania, by a group of mill owners facing high insurance premiums for their grain operations.
- 1900s:Â Expanded its offerings to include coverage for feed and fertilizer companies.
- 1992:Â Became a wholly-owned subsidiary of Millers Penn Holding Corporation.
- Today: Remains a leader in agribusiness insurance, known for its expertise and specialized products.
Mission and Values
- Mission: To provide superior insurance products and services to the agribusiness community, promoting growth and resilience in the industry.
- Values:
- Integrity:Â Building trust through ethical and transparent business practices.
- Innovation:Â Continuously developing new and relevant coverage solutions.
- Expertise:Â Possessing deep knowledge of the agribusiness sector and its risks.
- Partnership:Â Collaborating closely with clients to understand their unique needs.
- Commitment:Â Dedicated to the long-term success and well-being of the agribusiness community.
Contact Details of Penn Millers Insurance Company
| Contact Information | Details |
|---|---|
| Website | Chubb Agribusiness |
| Phone | 215-640-1000 |
| Mailing Address | P.O. Box 1000, Philadelphia, PA 19106 |
| Domiciliary Address | 436 Walnut Street, Philadelphia, PA 19106 |
| LinkedIn – Miller’s Insurance Agency Inc. | |
| Facebook – Penn Summit Insurance | |
| Twitter – Ryan Miller |
Services and Products Offered by Penn Millers Insurance Company
Commercial Property and Liability
- Property insurance: Covers buildings, equipment, and inventory against physical damage from fire, theft, vandalism, and other perils.
- Liability insurance: Protects against financial losses arising from bodily injury or property damage to third parties caused by your operations, products, or premises.
Business Auto and Inland Marine
- Business auto insurance:Â Covers company vehicles against physical damage and liability arising from accidents.
- Inland marine insurance: Covers goods in transit, whether shipped by truck, rail, or air.
Workers’ Compensation
- Provides wage replacement and medical benefits to employees injured on the job.
Claims Filling with Penn Millers Insurance Company
- Contact Penn Millers:Â Report your claim promptly using the preferred method mentioned above.
- Gather Information:Â Be ready to answer questions about the incident and provide supporting documents.
- Cooperate with the Adjuster:Â Schedule an inspection and answer any questions the adjuster might have.
- Review Settlement Offer:Â Carefully review the offer and negotiate if necessary.
- Accept or Reject:Â Decide if the offer is fair and submit your decision.
- Receive Payment: Once accepted, payment will be processed according to your chosen method.
Cancelling and Renewing Your Penn Millers Insurance Policy
Understanding how to cancel or renew your Penn Millers insurance policy is essential for managing your coverage and budget effectively. Here’s a breakdown:
Cancellations
- Policy term: Penn Millers policies typically follow a 12-month term. Cancelling before the term ends usually incurs a cancellation fee, depending on your specific policy and reason for cancellation.
- Mid-term cancellation: If you have a valid reason for canceling mid-term, such as selling your insured property or switching insurers, Penn Millers will assess a pro-rata refund based on the unused portion of your premium.
- Cancellation methods: You can initiate a cancellation request by phone, email, or written notice to your agent or directly to Penn Millers. Be sure to clearly state your policy number, effective cancellation date, and reason for canceling.
- Non-renewal: Penn Millers will notify you of an upcoming policy renewal, typically 30-60 days before the end of your term. If you choose not to renew, you don’t need to take any action; your coverage will simply lapse at the expiry date.
Renewals
- Renewal notice: Penn Millers will send you a renewal notice outlining your coverage details, premium amount, and any potential changes. You’ll have a grace period (usually 10-15 days) to pay your premium and keep your coverage active.
- Payment options: Penn Millers offers various payment options, including online, mail, or phone. Consider setting up automatic payments to avoid late fees or policy lapses.
- Policy changes: During renewal, you can request changes to your coverage, such as adding or removing coverages, adjusting limits, or modifying deductibles. Be aware that adjustments might affect your premium.
- Cancellation during renewal: If you decide to cancel after receiving the renewal notice, the cancellation process and fees will apply as mentioned earlier.
Ratings
A.M. Best has assigned Penn Millers Insurance Company a superior A++ (Superior) financial strength rating and aa+ (Superior) long-term issuer credit rating.
This highest rating indicates the company’s superior ability to meet ongoing insurance obligations. The Missouri Department of Insurance reported a 0.02% market share for total property and casualty insurance in 2022.
A.M. Best has given both ratings a positive outlook, suggesting potential future upgrades. Penn Millers exhibits strong financial stability with over $2 billion in assets and a low debt-to-equity ratio.
The company has a proven track record of promptly and fairly paying out claims. Policyholders generally express positive experiences, commending Penn Millers for their responsiveness and expertise.
Penn Millers Insurance Payment Options: Flexibility for Your Budget
Penn Millers Insurance gives you different ways to pay your agribusiness insurance premiums. They know handling your money for your farm can be hard, so they want to make it easy for you.
Frequency
You can pay once a year, paying the whole amount at the start. If you have all the money, it’s the cheapest way.
Or you can pay two times a year, splitting the amount into two. You pay at the start and then six months later. It’s a good choice if you can’t pay all at once.
Another option is paying four times a year. You split the amount into four, paying every three months. It gives you more time to pay throughout the year.
Payment Methods
- Electronic funds transfer (EFT): It’s fast and safe. You move money directly from your bank to Penn Millers. No fees for this, and it works for both one-time and split payments.
- Credit/debit cards: You can pay online or by phone using Visa, Mastercard, or Discover. But there’s a $5.30 fee each time, no matter how much or how often you pay.
- Checks: You can mail a check to Penn Millers. But it’s slower, and you need to put your policy number and invoice details to make sure it’s right. Not the best if you need to pay quickly.
Employee Benefits of Joining Penn Millers Insurance
- Group health insurance:Â Offers medical and dental coverage to employees and their families.
- Life insurance: Provides financial protection for employees’ families in the event of death.
- Disability insurance:Â Replaces a portion of lost income if an employee becomes disabled and unable to work.
FAQ’S
Q1: How can I pay my insurance premium with Penn Millers?
A: You can pay using electronic funds transfer (EFT) directly from your bank, credit/debit cards (Visa, Mastercard, or Discover with a $5.30 fee), or by mailing a check.
Q2: Can I choose when to make my premium payments?
A: Yes, Penn Millers offers flexibility. You can pay annually, semi-annually (every six months), or quarterly (every three months).
Q3: Are there fees for using electronic funds transfer (EFT)?
A: No, there are no transaction fees for using EFT to pay your insurance premium with Penn Millers.
Q4: What information do I need to include when mailing a check for my premium?
A: When sending a check, be sure to include your policy number and invoice details to ensure proper processing by Penn Millers.
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