This car insurance review uncovers the history of this German based company formed in 1868.
The original name was Frankenmuth Garage Company where auto policies were available for $7.50 premiums with a $1.00 policy fee.
In 1921, stockholders established a charter and the new name became, Frankenmuth Mutual Auto Insurance Company.
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More About Frankenmuth Mutual
The company expanded its service to the US in Michigan and added 200 subscribers in the 1920s. Although they have come a long way from 1868, premiums are still affordable.
They are now members of an insurance pool of four other companies, Ansur American Insurance Company, Fortuity Insurance Company, Asure Worldwide Insurance Company and Patriot Insurance Company.
While Frankenmuth Mutual Auto Insurance serviced the Midwest region of the US, exclusively, it maintained a good rating. Most recently until 2008, the company carried an A+ rating. Unfortunately, the 2008 economic downturn affected the A+ rating issued by A.M. Best Company, a staple in the worldwide consumer business rating community since 1899.
Frankenmuth’s car insurance rating fell from A+ to A because of its overall performance in operations.
Other factors affected the rating related to its expansion to new territory in addition to diversification. The company pool acquired Patriot Insurance around this time, which is located in Maine. Storms in the Midwest affected finances along with other financial risks. In 2009, the negative rating was offset by an upswing in operation performance and capitalization.
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