American Family Renters Insurance Review


Rating: 8.1 / 10 (Excellent)
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American Family is a mutual insurance company that offers property and casualty insurance, as well as investment products and retirement solutions, for businesses and individuals. The company, which was founded in Wisconsin in 1927, has grown to become a recognized name in the personal lines market through such products as home, renters, umbrella, and specialty vehicle insurance.

How is American Family rated?

Breakdown

9/10
Financial Strength
8/10
Coverage
9/10
Pricing & Discounts
7/10
Customer Experience

Overall Rating: 8.1 / 10 (Excellent)

American Family Mutual Insurance Company is a well-established commercial and private insurer offering life, health, property, auto, specialty, and umbrella insurance products in select states. Although far from large-scale, their operations have been incredibly successful and have allowed the company to expand and restructure. Their renters insurance policy is fairly standard, but their discounts and optional coverages are quite comprehensive, fully customizable and solidly backed.

American Family Coverage

Coverage - 8 / 10

American Family Insurance offers all standard renters insurance coverage options, including loss of use, liability, and property damage with replacement cost protection. Although they do not state estimated coverage amounts or disclose further details about their replacement cost limits, their wide selection of policy options and add-on coverages, which include identity theft protection, travel insurance, pet insurance, and home based-businesses insurance, is quite comprehensive.
Basic Coverage
Personal Property
Personal Liability
Loss of Use / Additional Living Expenses
Optional Coverage
Identity Theft Restoration
Property Valuation Methods
Replacement Cost

Pricing & Discounts

Pricing & Discounts - 8.5 / 10

American Family Insurance offers a broad range of discounts for customers who bundle their renters insurance with other policies, who have have been claims free for at least five years, and who have adopted smart technology such as sensors and devices that monitor temperature, humidity, air quality, fire, intruders, etc. The company states that customers may also qualify for additional discounts by opting for a preferred method of payment, being a loyal customer for years, or having a parent that is also a member of American Family Insurance.
Property-Level Discounts
Burglary Protected
Fire Protection
Policy Discounts
Multi-Policy
Automatic Payment
Claim-Free
Up-front Payment

Customer Experience

Customer Experience - 7 / 10

American Family Mutual Insurance Company holds an A rating with the Better Business Bureau based on 42, mostly negative, customer reviews. Despite this feedback, data collected by the NAIC reveals that the company received less than the national median ratio of complaints regarding their homeowners insurance product in 2016. Third-party customer satisfaction studies also suggest that most clients deem American Family Mutual Insurance Company a standard provider when it comes to home and renters insurance. Based on comments left by consumers on BBB.org, that "average" designation could be related to deficiencies in their claims handling process, but should not be indicative of low service standards.

Customer Ratings

BBB Rating
A
Number of BBB Positive Reviews
2
Number of BBB Neutral Reviews
1
Number of BBB Negative Reviews
39

National Association of Insurance Commissioners

NAIC Complaint Ratio 2016
0.72
NAIC Total Complaints 2016
122
*The NAIC complaint ratio (in this case 0.72) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Financial Strength Ratings

Financial Strength - 8.5 / 10

Although American Family Mutual Insurance Company does not have a financial strength rating with S&P global or Moody's Investor Services, the company holds an A (Excellent) financial strength rating and stable long-term issuer credit outlook with the insurance-centered credit rating agency A.M. Best. American Family also has over 8.3 million active members and currently owns around $22.7 billon in total assets, making them a financially stable enterprise with a proven ability to fulfill future policyholder obligations.
Underwriter
American Family Mutual Insurance Company
AM Best Financial Rating
A
Company Type
Underwriter
*The above information reflects the financial strength of the underwriter of the American Family renters insurance policies: American Family Mutual Insurance Company.

Contact & Additional Information

Homepage URL
Company Phone
(800) 692-6326
Headquarters Address
6000 American Parkway, Madison, WI, 53783
Year Founded
1995

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