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Home > Property Insurance Coverage > Home Owners Insurance > Saucon Mutual
Saucon Mutual
Saucon Mutual Insurance Company is a highly capitalized, mutual insurance company. Their investments are well diversified and represent many industries. Below is a link to their condensed balance sheet as reported to the NAIC i.e. National Association of Insurance Commissioners, the Insurance Department of the Commonwealth of Pennsylvania and various rating organizations. SMIC's investment advisory services are done by a seasoned veteran of the financial world.
In order to make a valid comparison between the benefits of making a deposit for perpetual insurance versus paying annual premiums, they need to determine what the return on a perpetual deposit really is. The return on the deposit equals the insurance premiums you no longer need to pay. Once you have made the deposit, you never need to pay another premium, so that is your return.
So, it is similar to a money market account you would buy from a bank. A bank money market is federally insured. A perpetual deposit is not. However, because Saucon Mutual is a property and casualty insurance company and part of the Pennsylvania Insurance Guaranty Association, all deposits are covered by the Association. A deposit with Saucon Mutual is arguably as safe as any money invested in the short-term debt of public corporations.
They have put together two scenarios for homeowner's. The first for a homeowner within 1000 feet of a fire hydrant and the second for a homeowner beyond 1000 feet of a fire hydrant. The 2 scenarios include certain criteria for the home, items that reduce deposits and the different coverages included.
The Company provides Perpetual Insurance to people interested in long term savings. Whereas today, you pay an increasing premium for your Insurance every year, with the Perpetual Deposit, you never pay insurance premiums again. The amount of the Perpetual Deposit is fully refundable.
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