A Long Tradition of Service
In 1849 the growing town of Waterford, Virginia was in need of an insurance company to protect its citizens against fire loss. A group of Waterford leaders and businessmen established the Mutual Fire Insurance Company of Loudoun County, now known as Loudoun Mutual Insurance Company.
Loudoun Mutual's beginnings were small. The yearly rent for its first office was $25 per year, including the wood stove and firewood. Initially, its vision was to serve the people of Loudoun County with affordable coverage. In its more than 150 years of service Loudoun Mutual has grown into a financially sound and customer-minded company that now serves thousands of people throughout Virginia.
In its early years, the company survived the Civil War, though it was a struggle. The post war years brought about rapid growth and the company began to reach beyond Loudoun County, establishing customers in other Virginia counties. The company's success necessitated more space, and in 1872 it moved into a new office building constructed for $1,400.
Times changed and so did society. The advent of such inventions as the match brought about new challenges for the company. Because of greater fire losses caused by the small wooden sticks, the company raised its premiums. When the stove pipe became a low-cost alternative to a stone chimney, the company was forced to insist that the addition of the new device to a home would void coverage.
By the early 20th century, the company had moved once more into larger quarters and was adjusting to the changes brought about by the Industrial Revolution. Electricity was the rage, though not without risk. After careful consideration, Loudoun Mutual decided not to raise premiums for those who added electric lights to their homes, provided they were installed correctly.
For almost 100 years the company did well writing just fire insurance. By the late 1940s it needed to do more to compete with other companies. So it extended its coverage to other perils and over the years added additional lines of business. Now homeowner's insurance makes up most of its business.
In 1949, on its 100th anniversary, the company moved, this time into a new building on High Street where it stands today. The prosperity of the following decades brought increased growth and the need for an important change - in 1979 the company shortened its name to Loudoun Mutual Insurance Company.
Many things have changed since Loudoun Mutual was established and the company has faithfully met the needs of its customers through some of history's most challenging times. Today Loudoun Mutual remains true to the vision of its founders - to provide the best possible insurance products at the best possible rates.
