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General Questions

What is a perpetual policy and what makes it unique from other insurance policies?

Why do you refer to your policyholders as members?

A perpetual policy is one without expiration. Both parties agree to keep the policy in-force without an expiration date. As long as the conditions of membership are satisfied, the policy remains in effect, subject to the cancellation provisions of the policy and the Society's bylaws. Other insurance policies expire after a set term, usually one year, and are renewed by both parties.

The essence of the Society is a "mutual" commitment of the Society and its member policyholders, each to the other. It is the expectation of the Society that once insured, a member will remain insured by the Society as long as specific membership conditions are met. The perpetual policy is a reflection of that expectation, subject only to the cancellation provisions of the policy and the current underwriting and eligibility requirements of the Society.

The Mutual Assurance Society of Virginia is a mutual insurance company. Unlike a stock insurance company with stockholders, our policyholders are our owner-members. Each member receives an annual report and is eligible to vote at our annual meeting, either in person or by proxy.

Does Mutual Assurance offer policies outside of Virginia?

No. Mutual Assurance operates only in the Commonwealth of Virginia. There are other mutual insurance companies across the U.S., though few operate exactly as we do and may focus on other types of properties such as farms or commercial buildings. If you are moving out of state or know of someone outside of Virginia looking for a similar type of coverage, you can look for resources at - the National Association of Mutual Insurance Companies.

Can I get my auto insurance through Mutual Assurance?

A recent JD Power report has noted that bundling auto and home is no longer the savings opportunity it once was, and many policyholders are better off shopping the two coverages separately.


At present, Mutual Assurance only provides homeowners insurance coverage for single-family owner-occupied properties. As an accommodation to our homeowner policyholders, we also offer dwelling fire, scheduled property, and personal umbrella liability insurance. For more information, visit our Policies and Coverages page.

Is Mutual Assurance Available 24/7 to get a quote?

You can get an online estimate 24/7 with our online estimate tool.

Onboarding Questions

How do I get a policy with Mutual Assurance?

There are two main ways to get an estimate with Mutual Assurance. Go to our online estimate tool or call us at (804) 355-1794 to speak with one of our Member Services team.

Can I get a policy today?

We conduct an inspection of your home and complete the underwriting process prior to issuing a new policy. Many companies will write your policy over the phone and decide later whether they will continue to insure your property. We feel it is in our members' best interest to make underwriting decisions before coverage is effective.

Why does Mutual Assurance inspect every property inside and out?

Do I need to do anything to prepare for my home 


What are some of the conditions that would exclude my property from qualifying?

How is the premium determined?

Why is the estimated replacement cost different from new construction cost?

A physical inspection of the property allows us to properly estimate the amount of insurance needed to adequately insure the property. In addition, a physical inspection is the best way to identify existing damage, hazards, or deficiencies present on the premises. After over 200 years of insuring property, we are convinced that a physical inspection is an essential component of sound underwriting principles.

The inspector will need access to your mechanicals, such as your water heater, air conditioner, and breaker box. Other than that, all you need to do is be there to provide access to the home.

There are certain conditions that we consider too risky that would prevent your home from qualifying for our coverage. These include, but are not limited to trampolines, unfenced pools, and raised porches without railings.  Your agent or assigned underwriter can discuss any issues with you following your home inspection.

All policy premiums are based on replacement cost. Several other factors also determine the premium for each home. They include:

  • Home features and characteristics: the home's age, and construction materials, the type and age of the roof, and the presence of a garage and other structures.

  • Location: rates can vary based on local and regional location, weather, and proximity to a fire hydrant/station.

  • Protective devices: monitored burglar alarm systems, smoke detectors, water shut-off valves.

The "cost to rebuild" or "replacement cost" is the estimated amount it would take to rebuild or repair your home at the time of a covered loss. Labor, materials, equipment costs, and inflation all impact the estimated replacement cost of your home. Your Mutual Assurance agent or underwriter can walk you through the details.

When rebuilding a home, a few key areas come into play that are not present when building a new home.

New home builders are often able to purchase materials at bulk discounted prices, and labor costs are typically higher as demolition, debris removal, and specific craftmen may be required.

Access to a home that needs reconstruction may also be an issue as nearby homes, landscaping, and detached structures can increase the time needed to complete the rebuild.

Underwriting Questions

Do dogs affect home the premium?

The number of dogs, not the type, can affect your underwriting costs. We allow up to 4 dogs to qualify.

Does Mutual Assurance offer a home warranty?

No, but our HO5 policy comes with several added coverages including equipment breakdown, water/sewer back-up, and service line repair, but these are not the same as a home warranty. 

Is my home business covered under my homeowners policy?

It depends on the business. Businesses that require clients or customers to come to the property would not be considered. If you operate a business out of your home, make sure you discuss that with your agent or underwriter to ensure you have adequate coverage.

What documents or information make up my homeowners policy

Most insurance policies include the same basic components:

Declarations page (Dec Page): the first page of your policy that contains the following information:

  • Name and address of the insured.

  • Dollar amount of coverage in the policy.

  • Cost of the policy.

  • Description of the insured property.

  • Contact information.

  • Coverage: details on the protection for both property (house, structures, and contents) and liability (bodily injury or property damage to others for which you are liable).

  • Exclusions: what is not covered by your policy under both property and liability.

  • Endorsements: Insurance riders, amendments or attachments that alter the standard coverage provided under the policy.

Claims Questions

Would my policy cover items in my home or just the structure?

Your policy covers your home and belongings. Certain personal belongings such as furs, jewelry, fine art, and guns require separate coverage, which we can provide upon request.

Does Mutual Assurance cancel or non-renew a homeowners policy?

Our perpetual policy means your policy remains in effect until you terminate it, or it is cancelled because membership requirements are not being met. A claim will not increase your rate or cause us to cancel the policy unless it is proven a deliberate action.

If you are not yet a member of Mutual Assurance

Or call us at 800-648-1794

General Questions
Onboarding Questions
Underwriting Questins
Claims Questions
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