Farmers Mutual of Tennessee
Carrier website links, underwriting access points, mapped product lines, and appetite notes in one place.
This appetite summary is only a guide. Confirm eligibility, submission requirements, restrictions, and binding authority directly with the carrier or underwriter before relying on it.
Carrier appetite summary
Farmers Mutual of Tennessee (FMT) writes property and liability coverage for homes, mobile homes, farms, and churches across Tennessee only; all homeowners risks must be located in Tennessee and written through an appointed local agent. ([fmtinsurance.com](https://fmtinsurance.com/help-desk/?utm_source=openai)) Preferred homeowners business is well‑maintained, owner‑occupied dwellings that fit one of FMT’s four homeowner programs: Special (ML‑3), Broad Replacement Cost (ML‑2), Broad ACV (ML‑2 ACV), and Basic ACV (ML‑1). Agents are instructed to verify that the home is in good condition with no known hazards before submitting; any risk falling outside the published parameters must be discussed with an underwriter prior to binding. ([fmtinsurance.com](https://fmtinsurance.com/wp-content/uploads/2016/10/Homeowners-Risk-Selection-Summary.pdf)) Key eligibility and target parameters by form: - Special (ML‑3) – Replacement Cost: newer dwellings (<20 years old) with central heat and air ducted to all living areas; 200‑amp grounded electrical service with no fuse boxes; minimum Coverage A of $100,000, written for 80–90% of market value (excluding land); asphalt shingles <10 years old or metal roof in good condition; located within city limits with Protection Class 7 or better; financially stable applicant based on a good financial responsibility report. - Broad (ML‑2) – Replacement Cost: dwellings <30 years old with superior heating systems (central heat/air or equivalent as listed) and 200‑amp grounded service (no fuse boxes); minimum Coverage A of $75,000, at 75–90% of market value; asphalt shingles <12 years old or metal roof in good condition (no roll/flat/built‑up roofs); target protection class 8 or better (PC 9–10 allowed only if visible from street and within 300 ft and in sight of at least two other occupied dwellings); financially stable applicant. - Broad (ML‑2 ACV): older, above‑standard construction homes in excellent repair, with superior heating as above; 200‑amp grounded service, no fuse boxes; age generally <60 years, with homes built before 1900 requiring prior underwriting approval; minimum Coverage A of $50,000 at 70–90% of market value, with a minimum market value of $35 per square foot; asphalt shingles <12 years old or metal/tile/slate roofs in good condition (no roll/flat/built‑up); protection class 8 or better (PC 9–10 allowed only if visible from street and within 300 ft and in sight of at least two other occupied dwellings); financially stable applicant. - Basic (ML‑1) – ACV: older, lower‑value homes that are still in good condition and show strong pride of ownership; central heat and air, baseboard/ceiling/gas floor furnace, gas/propane stoves, or electric wall heaters providing heat to the entire living area; 200‑amp grounded service (fuse or breaker boxes permitted); minimum Coverage A of $40,000, written at 70–85% of market value; asphalt shingles <15 years old or metal/tile/slate roofs in good condition (roll or built‑up roofing not acceptable); all protection classes acceptable, but home must be in sight of at least one other dwelling; financially stable applicant. ([fmtinsurance.com](https://fmtinsurance.com/wp-content/uploads/2016/10/Homeowners-Risk-Selection-Summary.pdf)) General underwriting philosophy for homeowners uses a market‑value approach to structure valuation. Agents are expected to determine accurate market value (excluding land) using recent purchase/contract price where available, or local price‑per‑square‑foot and area real‑estate data; homes must meet the minimum coverage and percent‑of‑value thresholds noted above. Agents should refer to the full underwriting manual’s structure valuation section for detailed guidance and contact their underwriter for assistance where valuation is uncertain. ([fmtinsurance.com](https://fmtinsurance.com/wp-content/uploads/2018/05/Determining-Market-Value.pdf?utm_source=openai)) Operational notes for producers: - New business: verify condition (no known hazards), heating, electrical, roof age/type, age of dwelling, protection class, and applicant financial responsibility before submission; if any factor falls outside the grid, obtain underwriter approval prior to binding. - Roofing: roll, flat, and built‑up roofs are generally unacceptable for preferred forms; roll/built‑up also not acceptable for Basic (ML‑1). Asphalt shingle age limits are stricter on the higher‑tier forms (10–12 years) and slightly more flexible on Basic (15 years), but roofs must always be in good condition. - Older homes: any home built before 1900 requires prior underwriting review and approval, even if other criteria are met. - Financial/credit: all tiers require a financially stable applicant, evidenced by a satisfactory financial responsibility report; marginal credit or financial instability may render the risk ineligible or push it to a more restrictive form subject to underwriter review. - Geography: policies are written for property in Tennessee only; standard homeowners and rental property policies do not cover flood, so separate NFIP coverage is needed where applicable. ([fmtinsurance.com](https://fmtinsurance.com/home-insurance/?utm_source=openai)) Declined or restricted classes (implied by guidelines): - Homes with unacceptable roof types (roll, flat, built‑up) or roofs exceeding the age limits for the intended form. - Dwellings with inadequate or obsolete electrical (non‑grounded, under 200‑amp, or with unacceptable fuse configurations where a form requires breaker‑only service). - Homes outside the required age, value, or protection‑class parameters that an underwriter has not specifically approved. - Risks with known physical hazards, poor condition, or lacking pride of ownership, and applicants without satisfactory financial responsibility, are not eligible for standard homeowner programs and should not be bound without prior underwriting discussion. Submission expectations: use the homeowners risk selection grid to choose the appropriate form; confirm market value and coverage percentage; document heating, electrical, roof age/type, and protection class; and contact your FMT underwriter before binding any risk that does not fully meet these criteria.