– For the fifth year in a row since Rural Mutual Insurance established the first-of-its-kind Farm Dividend Program, the company’s Board of Directors declared a 5% dividend on all eligible farm policies for 2020 farm policyholders. Over the past five years, Rural Mutual has paid out over $12.5 million to Wisconsin farmers as part of this program.
Based on the company’s positive operating results, an estimated $2.5 million will be paid out in 2021 at the time of farm policy renewal. Farmers started receiving dividend checks in late February.
“This program wouldn’t be possible without Wisconsin farmers’ hard work, belief in farm safety and loyalty to Rural Mutual. This is one way that we can reward our farm policyholders in recognition for their essential work to our economy,” said Dan Merk, Executive Vice President and CEO of Rural Mutual Insurance.
This is the fifth year a Farm Dividend has been declared. 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 their farm policyholders, especially amidst a difficult year. It also reinforces their strong relationship with the Wisconsin Farm Bureau.
Rural Mutual is the number one writer of farm insurance in Wisconsin. The company was founded by farmers to better understand farmers’ 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.