Austin Mutual Insurance Company Review

Austin Mutual Insurance Company
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Austin Mutual Insurance Company brings more than a hundred years of experience as a homegrown insurer out of Minnesota. Having expanded to cover a wide range of personal and commercial products and doing business in a growing number of states, Austin Mutual is a regional insurer with a strong background.

Austin Mutual Insurance Company Summary

Formed in 1896 in Mankato, MN as State Farmers Mutual Hail Association, Austin Mutual took on a new name when the headquarters was moved to Austin, MN in 1909 and finally settled on Austin Mutual Insurance Company in 1930 with another move to Minneapolis. The headquarters moved to its current location in Maple Grove, MN in 2008. In the more than one hundred years since its inception, the company has expanded to cover home, auto, and commercial products. The company also provides Agribusiness coverage through its association with Cooperative Mutual Insurance Company.

Today Austin Mutual Insurance Company serves 17 states, and in 2012 became a part of The Main Street Insurance Group. Insurance policies are sold through independent insurance agents, and not all policy types are available in all of the 17 states. Currently online quotes are not available through the Austin Mutual website, but some of the agents offering their policies may have an online quote system. Agents can be found through the insurance company website.

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Insurance Products

Austin Mutual offers a range of personal and commercial insurance products. Their most popular products are auto, home, and non-standard dwelling, as well as small business policies including commercial auto. Austin Mutual has a strong position in the agricultural business market.

Auto Insurance

Austin Mutual’s standard auto insurance policies provide both basic liability coverage, as required by law, and a wide range of optional coverage as well. Currently, personal auto insurance from Austin Mutual is available in 9 of the 17 states where Austin Mutual sells insurance. These states are Washington, Oregon, Montana, South Dakota, Minnesota, Idaho, Utah, Arizona, and Wisconsin. Features of Austin Mutual auto insurance policies include:

  • Single deductible across all Austin Mutual policies for losses that involve more than one policy, such as claim involved both home and auto.
  • Multiple discounts including less common credits such as a Farm Territory Credit.
  • Options for both 6-month and 12-month terms.

Austin Mutual also offers auto insurance for classic and antique autos under specialized policies.

Home Insurance

Austin Mutual writes several types of home insurance policies. Standard homeowner’s insurance provides comprehensive coverage for single-family dwellings that includes personal property and liability coverage. In addition to standard homeowners, Austin Mutual can also provide coverage for several other types of homes:

  • Mobile and manufactured homes
  • Condos
  • Rental homes
  • Seasonal or second homes

Home insurance is available in the same states where Austin Mutual provides auto insurance, and also qualifies under the common loss deductible plan offered to multi-policy holders.

Commercial Insurance

Austin Mutual provides coverage for a variety of small businesses across all 9 states where the company sells personal lines products. Not all policy types are available in all states, and the type of business that is eligible varies by state. Policies available include:

  • Business Owner’s Insurance: Comprehensive policies to cover all aspects of a small business, including retail, service, restaurant and more. These policies cover liability, business property, and employee liability among other features.
  • Business Auto: Policies for the specialized needs of commercial vehicles, from passenger cars to trucks and trailers.
  • Business Umbrella: Providing extended liability coverage for your business.

Agribusiness

Specific to businesses that involve commercial farming operations, Austin Mutual’s Agribusiness coverage is available in Iowa, Indiana, Illinois, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota, Wisconsin and Wyoming. Austin Mutual has been affiliated with Cooperative Mutual Insurance Company since 2011 to improve Agribusiness products, and offers package policies covering a wide variety of agribusiness needs. AMIC Agribusiness is headquartered in Omaha, NE.

Additional Products

In addition to the basic personal and commercial lines policies, Austin Mutual also writes personal umbrella insurance policies to provide increased liability for individuals.

Austin Mutual Insurance Company Rates

Because Austin Mutual does not provide online quotes, premiums can’t be compared through quote comparison systems. Policies are typically aimed at people without considerable risks or credit problems. The company does offer a considerable list of available discounts to make premiums more competitive. Because the company is regional, premiums may not be competitive with larger, national companies for all customers.

While there is no online quoting, the Austin Mutual website does allow online bill payments, and there are a number of payment options available, including single pay, 4-pay, and monthly plans.

Claims

For personal and small business claims, Austin Mutual offers a 24/7 claims department, which can be reached through a toll-free phone number. Although there is no online claims reporting system the Austin Mutual website offers contact information and claims instructions on their website to allow policyholders to reach them quickly. Claims can also be submitted through the insurance agent.

For Agribusiness claims, policyholders can contact a separate claims department by phone. These claims can also be filed through an agent.

Consumer Research and Complaints

Although the AMIC is not a BBB accredited business, they do have a rating of A+ based on the BBB’s multi-factor system. Austin Mutual shows only one reported and closed complaint according to the BBB in the past 3 years, with no complaints at all in the past 12 months – a very good record. There are no known government actions against the company.

Financial Strength

Rating Company Grade Financial Outlook
AM Best A Stable
Fitch N/A N/A
S&P N/A N/A

Bottom Line

Austin Mutual Insurance Company is a regional insurance company with a long history. They write mainly standard auto insurance policies aimed at drivers who have clean records and few problems in their history, but are unlikely to provide the best rates for drivers with higher risk levels. Drivers who carry other policies with Austin Mutual and qualify for a number of discounts are most likely to find the rates competitive. AMIC is a good choice for those seeking a smaller, regional company and for those needing specialized dwelling insurance or small business coverage, especially in agribusiness.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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Review Information

Summary
Review Date
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Austin Mutual Insurance Company
Author Rating
3

Comments

  1. Charlene says

    I’m thankfully not covered by by them. One of their insured hit my PARKED car and they are still investigating to see if they can cover the accident. [Redacted] in the claims department is your stereotypical insurance agent. Her voicemail says she will return your call in 4 hours; however it took 6 DAYS, 3 phone calls AND the mention of getting a lawyer before she would bother to call me back. I dealt with my insurance and Austin Mutual with this accident. [Redacted] and Austin Mutual are the worst I’ve had to deal with. Good luck to all their policy holders, I hope you do not have to use your insurance.

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