Our company was established in 1893 out of a desire to provide the residents of Ayr and surrounding communities with protection from devastating loss caused by fire.

A group of community residents recognized the need for affordable insurance and solicited the names of those interested in being a part of this endeavor.

By the Act of 1836, each district in the Province of Upper Canada was permitted to form its own mutual fire insurance company if it had a minimum of 40 subscribers for insurance. Those 40 souls were required to sign a premium note. In this way, they assumed liability proportionate to the policyholder’s own limit of protection. If a loss by fire occurred, the amount required to pay the loss was assessed, levied, collected and paid to the claimant in due course.

The tradition of ‘neighbour helping neighbour’ is the backbone of mutual insurance. Through the mutual system, the losses of the few are borne by all of the policyholders of the company.

At the first Annual Meeting on February 24, 1894, it was reported that the volume of insurance to date mounted to an aggregate of $805,060, representing 238 policies. Our company has continued to grow over the years, but our principles remain true to the mutual tradition, rooted in the pioneer spirit. New lines of business have evolved and we have adapted to those changes without losing that link to the values of the past. It is our policyholders and their needs that drive our business.

Ayr Farmers Mutual is proud to be an Ontario Mutual.

 

 

BLOG POSTS

Refund of Premium 2018

Friday, January 26, 2018

Within the company by-laws the Board of Directors at Ayr Farmers Mutual is granted the ability to declare a refund from premiums to participating Policyholders. Such a consideration is based on the company’s ... Read more

Are Insurance Rates Higher if Your Local Firehall is Volunteer?

Monday, January 22, 2018

Are home insurance rates higher when your local firehall is volunteer? The short answer is no. When Ayr Farmers Mutual rates a building, we consider three grades of fire protection, which are not conditional on the ... Read more

What Does No Fault Insurance Mean?

Tuesday, January 16, 2018

  No-Fault Insurance is one of the most misunderstood terms in insurance. A common misconception is that it means that no one can be considered at-fault for a motor vehicle collision. However, that is not the ... Read more