In mid-December, UMI-insured churches with policies near expiration learned that they had 2 weeks to renew. According to reports from churches, the renewal rates ranged from double the 2018 premium, up to 4 times the 2018 premium. UMI (United Methodist Insurance) is a voluntary program affiliated with United Methodist agency GCFA; it is not affiliated with the Tennessee Conference.
In August, UMI contracted with AmVenture out of Cleveland, Ohio to provide coverage to churches in the program. According to representatives of AmVenture, the previous carrier did not charge enough to maintain the program. Churches with renewals in coming months should anticipate at least 30 days prior notice of the renewal rates with the new program. Approximately 60 churches in the Tennessee Conference are currently insured by UMI.
“Churches anticipating rate increases may shop their coverage at any time,” said Conference Treasurer Jim Allen. “Preference should be given to insurers that specialize in church policies. In this area, these include Brotherhood Mutual, GuideOne, and Church Mutual.”
The Conference has previously endorsed Church Mutual and the Conference Trustees recently renewed with Church Mutual for coverage of conference property for another 3 years.