With more than a century of business know-how to our name, Amica is the oldest mutual insurer of automobiles in the country. We also offer home, marine, personal umbrella liability and life insurance products. Our employees are the key to providing exceptional service to our loyal policyholders.

As a mutual insurance company, Amica Insurance is owned by its policyholders. Policyholder-owned companies are not publicly traded, and therefore are not obligated to pay dividends to shareholders; however, some might pay dividends to their policyholders, depending on their financial status for the year.

Key Takeaways. An insurance company owned by its policyholders is a mutual insurance company. A mutual insurance company provides insurance coverage to its members and policyholders at or near cost. Any profits from premiums and investments are distributed to its members via dividends or a reduction in premiums.

Overview. Established: 1907 – Amica is the oldest mutual insurer of automobiles in the United States. Company Profile: Amica is a direct writer of personal insurance with auto, homeowners, personal excess liability and marine coverages.

policyholders A mutual insurance company is one that is owned by its policyholders, not by outside investors. This makes it different from a stock insurance company, which is owned by shareholders and traded publicly.

The Benefits of a Mutual Insurance Company You'll receive dividends. Mutual insurance companies try to pay out dividends each year to policyholders. You may be able to use them to purchase additional coverage if you have a whole life insurance policy.

Mutual companies often distribute dividends or premium reductions to their members. It allows for a strategic focus within the company that is more vested in the customer/member rather than a traditional company that is more vested in the shareholder.

If you have separated from your partner and have an amicable relationship, you may be able to use amica to reach an agreement about parenting arrangements and property settlement. amica is a secure online tool which helps separating couples resolve their disputes and record agreements in writing.

OUR CORE VALUES

• Professionalism. We commit to do things right the first time, with integrity and competence.
• Efficiency. We commit to utilizing all our resources optimally to enhance the speed of service delivery, reduce wastage and costs.
• Teamwork.
• Innovation.
• Simplicity.

A mutual insurance company is an insurer that provides collective self-insurance to its Members. It has no shareholders and is owned and controlled by its Members.

Benefits of Insurance Coverage

• Provides Protection. Insurance coverage does reduce the impact of loss that one bears in perilous situations.
• Provides Certainty. Insurance coverage provides a feeling of assurance to the policyholders.
• Risk Sharing.
• Value of Risk.
• Capital Generation.
• Economic Growth.
• Saving Habits.

A mutual company is a private firm that is owned by its customers or policyholders. The company's customers are also its owners. As such, they are entitled to receive a share of the profits generated by the mutual company.