Wolverine Mutual Insurance Company

Wolverine Mutual Insurance Company

Founded 1917 Wolverine Mutual insurance company has told its customer “it’s covered” when they need assistance the most. 

In the newest 2018 survey, Wolverine ranked top 3 in claims handling in personal lines. In 2016 they took first place.

Currently, Wolverine has over 45,000 policy holders in Michigan, Indiana and Wisconsin.

Challenges Wolverine Mutual is facing:

President James Laing says, “The biggest challenge for Wolverine in our market today is competing on the agent’s desktop for business through ease-of-use in technology”.

How they are overcoming that battle is; Wolverine has recently upgraded their auto quoting platform to put them back in front of local agents. They now work with multi-quoting software such as, PL Rater software through their new BindExpress (BX) portal.

New Supported Applications: 
ACS, Applied Rater, Capital Evolution, EZLynx, and PL Rating.

What they do: 
Claims: The goal of Wolverine Mutual’ s claims service is to strive to respond to your claim within 24 hours of receiving it. They focus on the “no surprises” philosophy so, they work closely with your agent to get your claimed handled as quickly as possible.

Why is Wolverine Mutual insurance company so successful?

  • Wolverine is successful due to many factors although, the main reason is their conservative investment strategy. They are very particular where they invest their profits.
  • They strongly believe being generous in paying for claims and claims service.
  • The welcoming atmosphere. Employees don’t leave the company. Some of their employees today have been with them more than 50 years.
  • Being with who they work with. Wolverine focuses on smaller agencies and doesn’t appoint new agents for the sake of only profits. They make sure the agency values align with the their own.
  • Claims: the goal is to talk to the claimant the day of the claim if not within 24 hours.

How to get Wolverine Mutual Insurance:

Wolverine Mutual insurance company uses local agents to quote and sell all their policies. That is a huge benefit to customer because in most cases that agent is an independent agent who also works with multiple companies to compare with.

Your local agent will focus on making sure they get all the coverage you need applied while they focus on matching you up with any discount you will qualify for.

Payment Plans:

Wolverine Mutual does offer several payments plans:

Full-Pay Plan:

Pay in full for auto 6 months

Pay in full for home: 1 year

Monthly EFT:

Monthly payment auto-deducted from checking or savings account

Bi-Monthly Check by Mail:

Mail payment every other month

Quarterly Check by Mail:

Mail payment ever three months

Bi-Monthly Credit Card – EFT:

A recurring charge on your debit/Credit Card

Quarterly Credit Card – EFT:

A recurring charge every three months on your debit/cred card

Fees:

Like all insurance companies there are fees associated with each payment plan. Below are the fees

Online Payment: No service fee

Full Pay Plan: No service fee

Installment Service Fee: $8 for all non-EFT installment plans

Convenience Fee: $6 for credit/debit card payment processed over the phone

Late Fee: $20: this fee is not applied until your bill is past due two full days

Reinstatement Fee: $20 if your policy cancels and your reinstatement is accepted

Non-Sufficient Funds Fee: $30 (does include credit/debit card declines)

Financial Stability from Demotech, Inc.

With over $55 Million in assets Wolverine’s stability is strong.

Reasons to join Wolverine Mutual Insurance:

To summarize this article there are several reasons you should want to be part of Wolverine Mutual. Mainly their code of conduct and ethics of not just growing fast to grow. They want to be known for being a family run business where they are there for the customer in the time of need. That is what sets other companies apart in a highly competitive industry.

I’ve always said that when the products are similar and your customer buys from you, the only way to build loyalty is in their time of need, aka the claims process. With Wolverine’s motto of “it’s covered” you won’t have to worry about that.

Now one part I did not mention is price. Since wolverine is based mostly on insurance score (A more complex version of a credit score) they do heavily rate depending on your score.

On motorcycle insurance they can be one of the most competitive companies out there. Most companies base the cost of a motorcycle policy based on the engine size in CCs and the value of the bike where Wolverine bases it mostly on the CC only. What does that mean? For anyone that has a high value bike such as, a Harley Davidson then wolverine motorcycle insurance is going to be hundreds less per year. On top of it all they typically allow you to have the bike in storage for those winter months for only $10 per month.

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About the Author Mark Flockhart

I have spent over a decade selling approx. $4 million worth of home, auto and personal umbrella insurance. I am licensed in several states and now I'm focused on sharing my knowledge with others to help you become smarter about your insurance which will save you money and time.

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