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State mutual insurance companies

State mutual insurance companies are insurance companies working throughout the state and specializing primarily in property-casualty insurance for individuals and businesses. In addition to personal and commercial property-casualty coverage, such a company usually offers a wide spectrum of insurance options embracing all the major segments of this market: car, homeowners, mobile homeowners, farm owners, life insurance and business policies are just a few examples.

As the name suggests, such a company is mutual, which means that it is owned by its policyholders who become company members. Policyholders pay premiums into a common fund out of which claims are then paid out. In each state where such companies operate and provide their services there are specific features and peculiarities in the policies offered and in the contract clauses. State mutual insurance companies often operate through the net of subsidiaries. They can function in one state or they can extend their application to a group of states. Thus, for example, nationwide mutual insurance companies are a group of companies providing insurance and financial services throughout the US.