The Public Employees Mutual Insurance Company: PEMCO



PEMCO, the Public Employees Mutual Insurance Company, is a smaller regional insurance company serving the northwestern U.S. Historically, the company’s market has been exclusively Washington State, but the first insurance policy sold in Oregon was reported by the company in June 2011. Currently, these are the only two states the company offers policies in. This is a mutual company owned by its customers rather than shareholders, freeing it from the accountabilities of Wall Street and the like.

PEMCO was founded in 1949 (as PEMIC, the Public Employees Mutual Insurance Company) by Robert J. Handy, a Seattle teacher. The original purpose was to establish a company to insure fellow teachers for first party coverages: home fire and burglary insurance, automobile collision, comprehensive, fire and theft insurance (source, pemco.com). In 1950, the company added liability insurance products (or third party coverages) to its list of offerings.

The company now sells automobile, boat, home and life insurance products. They do offer a multiple-policy discount (homeowners and auto). Additional available discounts possibilities include: safe driver, multi-vehicle, good student, vehicle safety or security features, and discounts for the completion of defensive driver courses. PEMCO also sells valuable a href="http://insuranceclaimshelpforyou.com/Umbrella-Policy.html">umbrella policies (which we really like) with limits of $1, $2 or $3 million. The company offers easy insurance premuim payment options; traditional or online.

Customers may report claims or losses around the clock 24/7 by calling the company's customer service department at 1-800-467-3626. In the event that vehicle repairs are necessary, the company offers a Timesaver Repair Program (TRP); their version of a direct repair shop program. Like other insurers with this type of repair program, if one of their recommended shops is used for repairs, the insurer backs up the body shop’s guarantees with their own.

PEMCO is a community-minded organization. The company hosts a number of charitable activities and donates 5% of its increase in surplus to local and national charities such the American Red Cross, Crimestoppers, the Harborview Medical Center, Junior Achievement, the Pacific Science Center and the Washington DECA, among others. Employee benefits include 8 hours of paid time per year to do volunteer work for non-profit organizations. The company also sponsored the 2011 Rainier Dragon Boat Festival for the Washington Dragon Boat Association.

Whether you are an investor, or shopping around for an automobile insurance policy, this seems to be a company to keep your eye on. The targeted market area is very small, but the company has indicated the desire for growth. If you live within PEMCO's limited market area, make sure to get a policy quote before you make a final decision about which company to purchase a policy from. You might be pleasantly surprised.

If you have even worked for this insurance company or had a policy with them, our readers would love to hear from you. What did you think about the company? What did you like or dislike about it. How was the customer service. Please share your insights or personal story with the rest of our insurance community. Just fill out the web-form below to get started. Thank you.

This article is written for informational purposes and is not intended to take the place of competent local legal counsel. The writer is not affiliated with this insurance company or its subsidiaries in any way.

Read our other insurance company reviews.




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The Insurance Claims Handling Process Explained

Why Bother with Buying Automobile Insurance?

GAP Coverage Explained

An Explanation of Personal Umbrella Policies (PUP)

Understanding Uninsured Motorist and Under-insured Motorist Coverages

First Party Insurance Coverages vs. Third Party Insurance Coverages

What to do When You Have Been in an Accident

Preferred Body Shop Programs

What is an Insurance Lien Holder?

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