Founded in 1856 as the Farmers’ Mutual Fire Assurance Association of New Jersey, Farmers of Flemington is one of the oldest, most reliable, and most respected insurance companies in New Jersey and, as a Mutual, we are in good company. The first Mutual was founded in 1752 by none other than Benjamin Franklin, and it remains in operation today!
We think the Mutual business model is the right way to operate an insurance company because there is no conflict of interest between the financial demands of stockholders and the interests of Policyholders. We continue to operate as a Mutual so we can focus solely on serving the collective interests of our Policyholders.
That’s what we mean when we say, “We Put Our Policyholders First.”
At Farmers of Flemington, we continue to make insurance affordable and accessible, and we pride ourselves in assuring ethical, high-quality service for our friends and neighbors across New Jersey. When you buy a policy from us, you become a Member of our Mutual, joining tens of thousands of New Jersey home and business owners who have come together as one to create a benefit for all.
We invite you to click the links below to learn more about Farmers of Flemington and how we serve our Policyholders and the community. If you like what you see, ask your Independent Agent about becoming a member of our Mutual. We look forward to welcoming you!
What is a Mutual Insurance Company?
A Mutual insurance company is organized solely for the benefit of its Policyholders. Profits earned by a mutual are reinvested into the company for the benefit of the Policyholders or returned to the Policyholders in the form of dividends.
In contrast, a stock insurance company is owned by investors who have purchased company stock. Profits generated by a stock insurance company are distributed to the investors without necessarily benefitting the Policyholders.
With a mutual company, there is no conflict of interest between the short-term financial demands of investors and the long-term interests of Policyholders.