WE ARE A MUTUAL COMPANY
Frederick Mutual, a mutual insurance company, empowers its policyholders through shared ownership.
Celebrating 177 years in 2020!
Founded on December 15, 1843, FMIC has operated for 177 years and we are the 3rd oldest insurance company in Maryland and the 9th oldest in the United States. As a mutual insurance company serving policyholders, initially in Maryland we have expanded our operating territory into Pennsylvania, Virginia, Delaware, D.C., North Carolina and South Carolina. We work with respected local independent agents in each state who share our values.
New products and coverage enhancements accompanied our expansion into new states. We will continue delivering innovative products to our agents and policyholders throughout the year. With a team of responsive underwriters and executive underwriters who work directly with our agents we can bind business faster and our dedicated Claims Department
Early company ledgers recorded increasing values for farmlands and farm equipment as applications for insurance poured in from across Frederick County. Citizens of Frederick indicated investments in education, agriculture, music, and entrepreneurship by requesting insurance coverage for their libraries, stables, pianos, and one-story office buildings.
The first claim payout was $5.83 for damage to the home of Peter Storm on South Market Street in August 1845. Today, this claim would cost approximately $183.
The largest claim payout in the early years of FMIC was for the burning of the mill of Theodore Delaplaine on the Monocacy River. The loss was $7000, which equates to over $188,000 in today's dollars.
