AMALGAMATION MESSAGE FOR COVID-19 PAY BY CREDIT CARD Home About Insurance Our People Claims Consumer Protection Careers Contact Keeping promises, close to home. Hay Mutual Insurance Company exists to preserve and strengthen all that is good in our community. For nearly 150 years, we’ve served Huron, Perth, Middlesex and Lambton counties with innovative insurance products, experienced staff and extensive knowledge of our local region. We are a Canadian company, member-owned, and member-focused. As a mutual insurer, our policyowners are members, and our members share in our successes. When we have a profitable year, we strive to refund a portion of our commercial and property policyholders’ premium. We are an insurance company, not an investment corporation, and our goal is to provide insurance at cost. Through charitable donations to local causes, we also share our success with the community. Our business is keeping promises, close to home. There’s more to a mutual There’s insurance and then there’s mutual insurance. Hay Mutual Insurance embraces the mutual way because we believe it’s better for our members — the policy owners who own our company. As a member-owned company, we are 100 percent Canadian and 100 percent locally owned. We are independently operated under the leadership of directors elected from among the members. There are many additional benefits to mutual insurance: We invest locally, employ local people and use local trades. Through our own Guarantee Fund and Reinsurance Plan, we are backed by other Ontario Mutuals so that our members’ claims and unearned premiums are guaranteed to be paid in the event of a disaster. Collectively, our system is one of the largest property insurers in Ontario. Through our association, we are an active participant in the Canadian and international insurance industry. We stay on top of current issues and make representation to government and other regulatory bodies on matters that may affect our members. As a small local insurer, we have remained stable for over a century. Together with the other Ontario Mutuals, Hay Mutual is among the most financially secure insurers in the world. And only Hay Mutual is consistently ranked as one of the top three mutual insurers for financial strength in Ontario. We will be there when you need us. Pure Mutual Illustration Here is a simplified illustration that demonstrates the principles of a purely mutual insurance company, such as Hay Mutual. We are an insurance company, not an investment corporation; our goal is to provide insurance at cost. As a pure mutual, we use your premium dollar for only three things: to pay claims to operate the company to make sure that we have enough surplus to protect you when we are needed We are like a container. Premiums and investment income contribute to the surplus in the container that is used to pay claims and cover operating expenses. The goal is to provide for our members, while ensuring that our company remains financially stable. Changing the rate of flow of any of these four forces (investments, policyholders, expenses and claims), affects the water level. Notice how the cost of claims affects the amount of the premium needed. We have a long history in your community Although our roots are in the farming community, we’ve grown to become one of the strongest mutual insurers in the province, offering a wide variety of insurance products to care for our members in every aspect of their lives. 1874 Members of the Evangelical Association and the Township of Hay met and decided to create a mutual fire insurance company to protect local farmers. 1875 The Hay Township Farmers’ Mutual Fire Insurance Company was established and the head office located in Zurich, Ontario. 1881 The new company moved its office to Crediton. 1900 Total in-force insurance reached $3 million. (At this time, there were 85 mutual insurers in Ontario.) 1910s The Province of Ontario established the office of the Fire Marshal. 1920s The average farm exposure increased from $1,000 in 1900 to $10,000 by the 1920s, and at the same time, farm mutuals in Ontario began to insure houses in towns. 1930s Fire extinguishers were introduced. 1940s Mutuals purchased war bonds and victory bonds during the Second World War. 1950s The Hay Township Farmers’ Mutual Fire Insurance Company office was moved back to Zurich, and the company began insuring against damage due to windstorms as well as fire. 1960s The company started to reinsure risks with the Farm Mutual Reinsurance Inc. (now known as Farm Mutual Re.). During this decade, The Hay Township Farmers’ Mutual Fire Insurance Company introduced machinery and livestock coverage for farms and theft coverage to household contents insurance. 1970s The Hay Township Farmers’ Mutual Fire Insurance Company celebrated 100 years and built a new office in Zurich. At this time the company added auto insurance to its product shelf. 1980s As times changed, Hay Mutual introduced Farmers’ Limited Pollution Liability coverage, commercial insurance as well as a 20 percent discount on property insurance. 1990s We changed our name to Hay Mutual Insurance Company and launched the Mutual Protect Theft Reduction Program in co-operation with the OPP. 2000s We refunded $2.6 million in premiums to our members. We also hired an in-house claims adjuster and built a new office. 2010s Since 2010 Hay Mutual has refunded $8.18 million in premiums to its members. Hay Mutual helped members in Kippen after a hailstorm on April 10, 2011, and took care of its members in the Goderich area after the devastating tornado on Aug. 21, 2011. Need insurance? We’ve got you covered. Hay Mutual Insurance offers a broad range of innovative insurance products to fit your needs. We design your policy based on your best interests and the insurance you really need. Hay Mutual Insurance agents spend the time to get to know you and suggest coverage best suited to your needs. Almost 150 years of insurance experience in the Zurich area give us a better perspective on how to meet our clients’ needs. Homeowners’ Package If you own a home, we can ensure that you and your family will be protected from the devastation caused by fire, water or theft. But it’s not enough to just cover your home. We look at the complete picture to consider valuable collections, public liability and the option to protect a student’s property while he or she is away from home. Contact one of our insurance agents for a free quote or download our Homeowners Package brochure. Farmowners’ Package Farm insurance is at the core of our business. We’ve been helping Zurich-area farmers manage their risk for almost 150 years. Agri-business requires unique underwriting expertise and unique insurance coverage. Contact one of our experienced agents to get a quote or download Farmowners’ Package brochure for more information. Tenants’ Package You can use our comprehensive tenants’ package to protect your own home and belongings. Plus, if you have a dependent living in a dorm or in a long-term care facility, we can modify your coverage to protect them as well. Contact one of our insurance agents for details on the Tenants’ Package. Condominium Unit Owner Package Condo unit owners may need help to bridge the gaps between what the condo insurance covers and what their own policy covers. Our flexible Condominium Unit Owner Package makes a good fit. Contact a Hay Mutual Insurance agent for a free quote. Additional available coverages Hay Mutual Insurance Company 37868 Zurich-Hensall Rd, Zurich, ON N0M 2T0 Keyboard shortcuts Map data ©2021 Google Terms of Use Report a map error