Research for a Germania auto insurance review led to the insight that Germania Insurance is a mutual insurance group made up of six subsidiaries. It is the largest insurance company of its kind in Texas and offers several types of personal insurance to those living in the Lone Star State.
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Germania Insurance is licensed with the Texas Department of Insurance to sell and write policies within the state. Read on to learn about the history, products, and even careers with this insurer.
Germania Auto Insurance Company History
Germania started as most insurance companies more than a century old did. It started as a farm insurance company. Before businesses and homes and automobiles needed insurance, farms were the most important insurable asset. By insuring farms, they were also insuring the income of their clients.
Farms were the livelihood in many areas across the United States, especially Texas, in 1896 when Germania was founded. It was founded as a mutual insurance company which back then meant that several farms were working together to make sure their livelihood was protected.
Since its founding, Germania has grown from one company to a group of companies. Germania insurance is made up of:
- Germania Mutual Insurance Association
- Germania Insurance Company
- Germania Fire and Casualty Company
- Germania Select Insurance Company
- Texas Heritage Insurance Company
- Germania Life Insurance Company
Over the last 115 years, Germania has come to have a membership of over 185,000 members. It is a company that is owned by its members. This means that when you purchase a policy, you receive some stock in the company and are able to buy more stock in the company if you choose to do so. Employees are also given a share in the company.
Germania Auto Insurance Products
Germania, though officially a farm mutual insurance company, sells several types of insurance. Forms of auto insurance, property insurance, personal liability insurance, and life insurance are the four main types of insurance products marketed and sold by Germania and its agents.
Auto insurance from Germania is targeted at a certain demographic of drivers. They look for customers who:
- Are good drivers
- Do not have a long history of violations or accidents
- Drive vehicles that are in moderate to good condition
By doing so, they can keep their premium rates at an affordable price since violations and claims are typically kept to a minimum for these types of drivers.
To help their auto insurance policies to be even more affordable, Germania offers several auto insurance discounts to its drivers. The discounts offered include a(n):
- Multi-car discount
- Defensive driving discount
- Driver training discount
- Passive restraint discounts
- Anti-theft discount
- Companion auto policy
- Mature driver discount
Germania’s homeowners insurance policies cover suburban homes, rural homes, home built with traditional construction, mobile homes, outbuildings, farms, and farm equipment. Discounts include a companion policy discounts, all metal roof discount, hail resistant roof discount, claims free discounts, and alarm discount.
The personal liability policies offered by Germania are meant to protect your assets if something happens to someone on your property for which you could be held legally liable. This would apply to someone getting hurt on your property or rental property, if your dog bit someone, or if someone was hurt on a watercraft that you own, for example.
The Germania life insurance program was started in 1983 and plans can be customized for all different types of coverage for people of different ages. They offer a companion policy discount on permanent plans, term life plans, and annuities. They will help you decide the amount and type of coverage you need for you and your family.
Germania Auto Insurance Ratings
Industry analyst AM Best gives Germania Mutual Insurance an A rating for financial strength and an “a” for issuer credit. However, it’s important to note they also give them a negative outlook for both categories. This means there is doubt that the company can sustain its current growth.
Germania Auto Insurance Company Careers
Germania regards itself as a mid-sized company and careers opportunities at Germania have increased over the last 10 years due to the growth of the company. Jobs are centrally located at the Brenham headquarters although agent positions are spread all throughout the state of Texas.
Germania offers their employees several benefits. Medical and dental insurance, life insurance, accidental death and dismemberment insurance, short and long term disability insurance, and employee voluntary wellness benefits are all benefits for employees.
Full time employees also receive pension benefits. Some are automatic while others are voluntary. Paid time off, scholarships for children of employees and additional voluntary benefits are also part of a career with Germania. It was voted one of the top 50 places to work in Texas.
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