In 1934, Hoosiers dissatisfied with the insurance available through State Farm Mutual of Illinois chartered the Indiana Farm Bureau Insurance. Automobile insurance for 3,341 cars and trucks was sold that first year to members of the Indiana Farm Bureau, Inc., a farm advocacy collective. The company added life insurance in 1937, and fire and tornado coverage became available in 1946.
In the 1950s, regional claims offices began to open to accommodate growing business. The growth was partly due to extending who could purchase insurance policies. Previously, policies had been available only to voting members of the Indiana Farm Bureau, but this was changed in 1954 when the company began selling them to non-farm families as well.
By the early 1990s, Indiana Farm Bureau Insurance had more than 700,000 active property and casualty policies and was the largest farm insurer in the state, as well as the second-largest home and auto insurer. Statewide, Indiana Farm Bureau Insurance employed over 2,000 people, with more than 800 in its home office in Indianapolis. In 1992, the company along with Indiana Farm Bureau both relocated to a $40 million corporate headquarters in the renovated Indianapolis Rubber Company building on the southeast fringe of downtown.
Indiana Farm Bureau Insurance continued its success in the 2000s, providing its customers with auto, homeowners, life, farm and crop, business, renters insurance, and other financial products. The company served 210,000 customers and brought in $940 million in revenue in 2019.
Farm Bureau Insurance is the collective name for several companies, including United Farm Bureau Mutual Insurance Co., United Farm Bureau Casualty Insurance Co., and United Farm Bureau Family Life Insurance Co. Farm Bureau Insurance is the collective name for several companies, including United Farm Bureau Mutual Insurance Co., United Farm Bureau Casualty Insurance Co., and United Farm Bureau Family Life Insurance Co.
Help improve this entry
Contribute information, offer corrections, suggest images.
You can also recommend new entries related to this topic.
