Rural Mutual Insurance Declares 5% Farm Dividend for Seventh Year
$18 Million Given Back to Farm Policyholders Through Dividend Program
MADISON, Wis., Feb. 20, 2023 /PRNewswire/ — The Board of Directors for Rural Mutual Insurance Company declared a 5% dividend on all eligible farm policies for 2022 farm policyholders. This is the seventh year in a row a Farm Dividend has been declared.
In 2023, an estimated $3 million will be paid out upon the farm policy renewal. Farmers will start to receive dividend checks in early March. Over the past seven years, Rural Mutual has paid out over $18 million to Wisconsin farmers as part of this first of its kind program.
“This is our largest payout of the dividend program to date and I’m very proud that our company’s financial success allows us to continue this program and put money back into the farming community,” said Dan Merk, executive vice president and CEO of Rural Mutual Insurance. “As a company rooted in Wisconsin farms, the Farm Dividend reflects our gratitude for their loyalty and commitment to agriculture.”
In 2017, Rural Mutual Insurance became the first Wisconsin-based insurance company to offer its farm policyholders a dividend. The Farm Dividend is one of the ways Rural Mutual continues to support its farm policyholders and reinforces Rural Mutual’s strong relationship with the Wisconsin Farm Bureau Federation.
Rural Mutual is the number one writer of farm insurance in Wisconsin. The company was founded by farmers to better understand their unique insurance needs, no matter the size of the farm operation. Rural Mutual is a single-state insurer, so local agents’ knowledge is specific to Wisconsin. Its farm coverage options include home and personal items, farm buildings, vehicles, farm personal property and workers’ compensation for farm employees.
For more information, please reach out to a Rural Mutual Agent, or visit RuralMutual.com/farmdividend.
About Rural Mutual Insurance
Rural Mutual Insurance Company has been protecting Wisconsin for over 85 years. As an AM Best A+ Superior company, Rural Mutual provides a full line of insurance products exclusively to families, businesses and farms in Wisconsin. The company is headquartered in Madison, WI with over 150 local agents across the state. For more information about Rural Mutual Insurance Company, click here.
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SOURCE Rural Mutual Insurance Company
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