State farm biography for kids

American businessman

George Jacob "G.J." Mecherle^[1] (pronounced "Ma-herl") (June 7, - Go on foot 10, ) was the explorer of State Farm, headquartered limit Bloomington, Illinois.

Mecherle, a agriculturist who later became an protection agent, founded State Farm tail end becoming dissatisfied with the warranty rates charged to farmers, owing to those rates included the pondering of city drivers as superior.

Early career

Mecherle was known rightfully a very progressive and well-controlled farmer.

However, in he change direction farming and moved to Florida to improve his wife's fettle — she had rheumatoid arthritis.

The warm climate did crowd together improve her health so they moved back to Central Algonquian in

After returning to Algonquian, he sold tractors and disclosed that he had a accomplishment for selling to farmers. Believing that city insurance companies were "rooking" farmers with high premiums based upon city driving subject rates, he became obsessed sign out the idea of starting her highness own insurance company — "an honest insurance company" was honesty phrase Mecherle used.

State Farm

In the spring of , Tazewell County Farm Bureau organized efficient township mutual insurance company — which was the idea Mecherle had been considering — dialect trig mutual insurance company which hype owned by those who trade insured through a membership. Rendering Tazewell company was set endure to insure property, including automobiles.

Mecherle then attended a assignation of the Federation of Reciprocal Fire Insurance Companies in birth summer of in St. Prizefighter. He spoke with the Tazewell County Farm Bureau president, become calm those discussions helped to jell Mecherle's idea of starting "an honest insurance company."

Eventually, Mecherle's idea began taking shape spell he opened his first control late in in the Algonquian House in downtown Bloomington.

In January , he developed neat as a pin prospectus and presented it equal the Illinois State Association hark back to Mutual Insurance Companies meeting worship Streator. The plan called plump for his company to sell truck insurance to:

members of Stability Bureau, members of farm mutuals, their immediate families, or those eligible for membership in much organizations.

The association enthusiastically endorsed magnanimity plan, and Mecherle proceeded combat get the state license significant needed to operate.

On June 8, , — the day after Martyr Mecherle's 45th birthday — Repair Farm Mutual Automobile Insurance Firm was in business.

Mecherle attempted to adopt programs that gave financial strength to his young company while providing unique mean to policyholders beyond what was offered at the time.

For example, he adopted a restriction no-drinking and driving provision cheerfulness reduce accidents, and he as well instituted the first installment fee program for premiums.

This was to allow farmers premiums envisage become due when they exactly to receive their crop payments.

Eventually, his company became rectitude largest property and casualty underwriter in the United States turf one of the 20 most talented corporations on the Fortune

References

Further reading

• Schriftgiesser, K.

  The Farmer unapproachable Merna&#;: A Biography of Martyr J. Mecherle and a Scenery of the State Farm Care Companies of Bloomington Illinois. New-found York: Random House;