Clients over profits: why choose a mutual insurer?

In the current climate, getting value for money is high on everyone’s list, especially when it comes to insurance policies.

Whether you are a homeowner, run a business or own a commercial property, searching for the best deal (not necessarily the cheapest) drives your decision. That’s where mutual insurance comes in but what is mutual insurance? Find out more below.

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NFU Mutual has been providing quality insurance solutions to the agricultural industry for more than 110 years. However, its client base has expanded beyond its original farming roots and now insures many homes, vehicles, and businesses beyond the typical farming industries.

With nine out of 10 clients renewing their policies with NFU Mutual, the company must be doing something right.

Nationally, NFU Mutual has over 295 agency offices including one serving Aberdeen City and Shire, from the offices in Thainstone. That NFU Mutual agency —Hepburn, Brodie, Silvers & Law — is led by Stephen Hepburn. The former financial expert grew up on a farm and spent 30 years with Clydesdale Bank. He now leads this experienced and growing team of insurance experts at this mutual insurer in Aberdeen.

Farm insurance company has expanded

It’s an exciting time, not just for NFU Mutual Aberdeen City and Shire agency but also for its new and existing clients. That’s because in the last couple of years post-pandemic, the agency has almost doubled the size of its team, bringing the headcount up to 17. Most new appointments have been created in the commercial team which includes the arrival of business development manager, Warren Vale.

Managing partner Stephen Hepburn, senior partner Tommy Brodie, and partners Ross Silvers and Sarah Law were delighted to welcome the new development executive to the team in December 2022.

His ambitions for the agency involve building on the successful growth of the business by increasing the number of new commercial customers joining the agency.

Changing business models need trusted insurers

Stephen said: “There’s a demand for sound business advice when it comes to insurance. If you think about the business environment at the moment — post-Covid, and given the risks associated with cyber security — customers are facing so many changes. This emphasises the need to sit down with an insurance agent to discuss the risks facing your business.

“There’s so much diversification in businesses and farms, as business models are changing, so their insurance policy should be able to adapt to these changes.

“Speaking with a trusted adviser is more important than ever. If you need an insurance product, choosing one which offers the opportunity of a face-to-face meeting so you can deal directly with your insurer is very attractive.”

There has been transformation plans, opportunities for expansion and diversification of the local NFU Mutual agency in Thainstone. But one thing has remained, and that’s the award-winning, highly rated service provided by this well-known mutual insurer.

What is mutual insurance?

A mutual insurance company, unlike many other insurers, is a little different. Firstly, it does not have any obligation to shareholders and instead is owned by and run for its members. Customers, as opposed to profits, are at the forefront of a mutual.

NFU Mutual rewards its loyal General Insurance (GI) customers through a Mutual Bonus which provides a saving on the renewal premium of their GI policy.

What are the benefits of being with a mutual insurance company?

1.  Personal service: If your policy is with NFU Mutual, you can have face-to-face interaction with your insurer. NFU Mutual agencies deal directly with their customers, have a physical presence and can conduct site visits to your home, farm or business. You can also arrange an appointment at the local office at Thainstone Centre outside Inverurie. This is ‘mutually’ beneficial as it also allows the Agents to assess the risk that’s being insured.
2. Local and experienced staff: Policyholders with NFU Mutual’s Aberdeen City and Shire agency will have policies and claims handled by experienced and talented local Agents and staff, who understand your business and the industry.
3. Big brand reputation: As a representative of NFU Mutual, the Aberdeen City and Shire agency benefits from a national presence. That’s the way they have always worked.
4. Recognition and trust: Given its history, it’s no wonder that NFU Mutual was Which? Insurance Brand of the Year 2022. NFU Mutual’s car and home insurance have been rated 5-star by Defaqto. It said it was “one of the highest quality offerings on the market”.
5. You are part of a mutual: As a policyholder, you become a member of NFU Mutual which has many benefits. These are outlined in its core values which are: delivering value, building long-term relationships, always being available, and supporting communities. Your claim will be handled and dealt with efficiently with a no quibble approach.

How can I insure my farm, business or home?

If you are looking for a new insurer for your business, farm or home, discuss your requirements with Stephen Hepburn and the team at NFU Mutual Aberdeen City & Shire agency. The agency also offers financial services and risk management.

If you are looking for a new insurer for your business, farm, vehicles or home, discuss your requirements with Stephen Hepburn and the team at NFU Mutual Aberdeen City and Shire Agency. The agency also offers financial planning services and risk management support.

For more information visit NFU Mutual Aberdeen City & Shire or email: aberdeen_agency@nfumutual.co.uk

S J Hepburn, T C Brodie, R R Silvers & S A Law is an appointed representative of The National Farmers Union Mutual Insurance Society Limited (No. 111982). And an introducer to NFU Mutual Select Investments Limited, a member of the NFU Mutual group of companies.