Alfa Insurance has announced an overall rate decrease on eligible farmowner policies – the first since 1992. The decrease was announced by Alfa President Jimmy Parnell who said the changes are part of the company’s ongoing efforts to refocus Alfa on its core values while growing business and membership.
The 1.4 percent decrease took effective April 15 for new business and is effective July 1 for renewals. It includes a new Auto/Farm discount for policyholders who insure their cars with Alfa and better rates for a new class of poultry houses with stronger construction. The changes are good news for farmers like Steve Stroud of Pike County.
“Any time I can save money it’s good news,” said Stroud, 40, who has six broiler houses and raises cattle and hay on his farm near Goshen. “Ever since I was old enough to have insurance, I’ve been an Alfa customer. It’s always been a good company to do business with, and saving money makes it even better.”
Seventy-seven percent of current farmowner customers will receive a rate decrease, Parnell said. An additional 12 percent, who currently do not have automobiles insured with Alfa, could save with the new Auto/Farm discount, he added.
“Alfa was founded almost 70 years ago by farmers who could not get affordable fire insurance for their homes and barns,” Parnell said. “We remain committed to serving the families who produce our food, fiber and forest products. The farmowner rate decrease is a step in the right direction.”
In addition to lowering rates for most farmowner policyholders, Parnell said Alfa’s ag specialists are also helping customers save.
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