This American Modern Insurance review will evaluate, for the most recent five year period where reliable statistics are available (2010, 2011, 2012, 2013 & 2014), the home insurance (mobile home & homeowners) complaint ratings for the subsidiary companies of American Modern Insurance Group, to determine whether each subsidiary, such as American Family Home Insurance Company, has a better-than-average, average, or worse-than-average customer complaint record. American Modern Insurance Group insures mainly mobile homes, homes in need of repair, trailers, vacant homes, homes with a recent claims history, and other properties many other insurance companies won’t insure. I’ll compare the home insurance complaint records for the American Modern subsidiary companies, with its major competitor offering specialty home insurance, Foremost Insurance.
Will positive or negative customer reviews help you choose a better home insurance company? Do customer reviews at least help you avoid home insurance companies with the worst customer service? You may really like your insurance company, or you may have been told by relatives or friends about the home insurance companies they think are best, but you never really know how good your insurance company will be, until you have a serious claim. The good news is many insurance companies settle a good portion of their claims in a manner acceptable to the majority of their customers. However, the wise consumer should avoid insurance companies with a worse than average history of home insurance complaints.
The most common reasons, for people to file home insurance complaints with a state insurance department against insurance companies, are for delays in a claim payment, unsatisfactory payment of a claim, and denial of a claim. The complaint statistics used in this American Modern insurance companies review are the number of upheld complaints filed against the American Modern companies with a state’s insurance regulatory authority, adjusted for each company’s market share, as determined by the National Association of Insurance Commissioners. This review provides valuable information to help you decide if American Modern is best for you. By choosing a company with a better-than-average complaint history, or at least avoiding companies with consistent, worse-than-average complaint records, you decrease the likelihood you will have a negative experience, when you need your home insurance company.
American Modern Homeowners & Mobile Home Insurance Review
As mentioned above, American Modern sells primarily specialty home insurance, for people having difficulty qualifying for standard home insurance. If you are a homeowner considering insuring with American Modern, its probably because you have few other options. At the end of this review, I’ll compare the complaint record for American Modern with its biggest competitor, Foremost Insurance. Sometimes, depending on your circumstances, the only other company willing to insure you may be Foremost. Independent insurance agents in your area are a good resource to help you figure out your insurance company options, when you find some companies won’t insure you.
If you are a homeowner insured with a specialty home insurance company, like American Modern or Foremost, your goal should be to change the situation (if possible) requiring you to qualify only for a specialty insurer, so you can obtain the usually broader home insurance coverage at a better price, from a standard home insurance company. If your issue is the condition of your home, be sure to shop for better home insurance once repairs have been made. If your issue is prior claims, be sure to shop for better home insurance once you have only one or no claims in the last 5 years. However, if you are a mobile home owner, Foremost or American Modern may have the best coverage available to you.
American Modern is sold through independent insurance agencies located in communities throughout the USA. However, agents of companies like Allstate, can often sell American Modern, when a home, mobile home, or residential property does not qualify for their company.
This American Modern insurance companies review is divided into three sections, consisting of: 1. its AM Best Financial Strength Ratings, 2. home insurance customer complaint ratings, and 3. information about competing home insurance companies, and how their complaint records compare to the American Modern companies.
1. AM Best Financial Strength Ratings for the American Modern Insurance Companies
American Modern Insurance Group had its A+ (Superior) AM Best Financial Strength Rating with a stable outlook (no ratings upgrade or downgrade is expected in the near future) reaffirmed on 11/13/2014. A+ is the second highest rating for AM Best. I become concerned with any car or homeowners insurance company or subsidiary with less than an A- rating for financial strength from AM Best.
2. American Modern Home Insurance Complaint Statistics & Ratings
American Modern Insurance Group sells home, dwelling, mobile home, & trailer insurance through the seven subsidiary companies listed below. The use of more than one insurance subsidiary company is usually to offer different pricing to specific risk profiles (high risk versus standard or preferred risk), or operate in a certain US state or group of states.
The subsidiary, American Modern Surplus Lines Insurance Company, has too few home insurance policies, with only $536,296 in US home insurance premiums for 2012 ($449,795 for 2013 and $441,944 for 2014), and may not be selling new home insurance policies, so it is not included in this complaints analysis.
Here’s how I establish my home insurance complaint ratings:
B = Better than average. Insurance companies with complaint ratios less than 75% of the average insurance company.
C = Average. Insurance companies with complaint ratios from 75% to 125% of the average insurance company.
W = Worse than average. Insurance companies with complaint ratios more than 125% of the average insurance company.
B = Better than Average C = Average W = Worse than Average
2015 Home Insurance Complaint Ratio = W (1.82)
2015 US home insurance premium = $236,016,577
2014 Home Insurance Complaint Ratio = W (1.90)
2014 US home insurance premium = $221,416,347
2013 Home Insurance Complaint Ratio = W (2.67)
2013 US home insurance premium = $194,970,200
2012 Home Insurance Complaint Ratio = W (1.39)
2012 US home insurance premium = $185,399,511
2011 Home Insurance Complaint Ratio = W (2.31)
2011 US home insurance premium = $171,900,180
2010 Home Insurance Complaint Ratio = W (2.69)
2010 US home insurance premium = $152,188,713
American Modern Home Insurance Company is the largest of the American Modern Insurance Group subsidiaries, and it’s available in all of the US states & DC.
The American Modern Home Insurance Company subsidiary has a worse-than-average home insurance complaint history over the last five years, with its number of home insurance complaints in its worst year during this period at 267% of the industry average.
B = Better than Average C = Average W = Worse than Average
2015 Home Insurance Complaint Ratio = C (1.08)
2015 US home insurance premium = $92,553,125
2014 Home Insurance Complaint Ratio = C (1.02)
2014 US home insurance premium = $99,115,174
2013 Home Insurance Complaint Ratio = W (2.06)
2013 US home insurance premium = $115,999,539
2012 Home Insurance Complaint Ratio = C (1.11)
2012 US home insurance premium = $138,287,067
2011 Home Insurance Complaint Ratio = W (1.29)
2011 US home insurance premium = $163,366,195
2010 Home Insurance Complaint Ratio = C (1.18)
2010 US home insurance premium = $154,615,732
American Family Home Insurance Company (NOT a part of the American Family Insurance Company) is the second largest of the American Modern Insurance Group subsidiaries, and it’s available in all of the US states, except Hawaii, Maine, & New Hampshire.
The American Family Home Insurance Company subsidiary has a higher than average number of home insurance complaints each year since 2010, with its number of home insurance complaints in its worst year (2013) during this period was 106% more than the industry average.
B = Better than Average C = Average W = Worse than Average
2015 Home Insurance Complaint Ratio = W (1.79)
2015 US home insurance premium = $122,203,879
2014 Home Insurance Complaint Ratio = W (1.79)
2014 US home insurance premium = $107,115,743
2013 Home Insurance Complaint Ratio = W (2.26)
2013 US home insurance premium = $91,200,060
2012 Home Insurance Complaint Ratio = W (2.64)
2012 US home insurance premium = $73,328,082
2011 Home Insurance Complaint Ratio = W (3.71)
2011 US home insurance premium = $56,851,631
2010 Home Insurance Complaint Ratio = W (2.58)
2010 US home insurance premium = $42,279,140
American Modern Select Insurance Company is the third largest of the American Modern Insurance Group subsidiaries, and it’s available in all of the US states, except California, District of Columbia, Florida, Hawaii, Maryland, New Hampshire, New Jersey, New York, Rhode Island & Texas.
The American Modern Select Insurance Company subsidiary has a worse-than-average home insurance complaint history over the last five years, with its number of home insurance complaints in its worst year during this period at 371% of the industry average.
B = Better than Average C = Average W = Worse than Average
2015 Home Insurance Complaint Ratio = C (.97) 4
2015 US home insurance premium = $41,199,680
2014 Home Insurance Complaint Ratio = C (1.10)
2014 US home insurance premium = $41,580,056
2013 Home Insurance Complaint Ratio = B (.44)
2013 US home insurance premium = $49,262,286
2012 Home Insurance Complaint Ratio = B (.44)
2012 US home insurance premium = $55,346,601
2011 Home Insurance Complaint Ratio = B (.67)
2011 US home insurance premium = $60,308,840
2010 Home Insurance Complaint Ratio = C (.83)
2010 US home insurance premium = $54,924,931
American Southern Home Insurance Company insures homes in most of the USA, except California, District of Columbia, Hawaii, Mississippi, Nevada, & New York, and it’s the fourth largest home insurance subsidiary in the American Modern Insurance Group.
The American Southern Home Insurance Company subsidiary had a lower than average number of home insurance complaints each year from 2010 to 2013, but its number of home insurance complaints in 2014 was 10% more than the industry average.
The following American Modern subsidiaries are much smaller, and most have decreasing market share, so they may not be selling new home insurance policies, or consumers are not likely to be quoted them:
B = Better than Average C = Average W = Worse than Average
2015 Home Insurance Complaint Ratio = W (2.74) 3
2015 US home insurance premium = $10,926,312
2014 Home Insurance Complaint Ratio = W (3.96)
2014 US home insurance premium = $11,553,268
2013 Home Insurance Complaint Ratio = B (0) (No complaints)
2013 US home insurance premium = $10,410,286
2012 Home Insurance Complaint Ratio = B (0) (No complaints)
2012 US home insurance premium = $10,019,890
2011 Home Insurance Complaint Ratio = C (1.01)
2011 US home insurance premium = $8,025,502
2010 Home Insurance Complaint Ratio = B (0) (No complaints)
2010 US home insurance premium = $5,952,530
American Modern Insurance Company of Florida is a very small subsidiary, available in Florida only.
B = Better than Average C = Average W = Worse than Average
2015 Home Insurance Complaint Ratio = C (1.11) 2
2015 US home insurance premium = $17,910,318
2014 Home Insurance Complaint Ratio = C (1.04)
2014 US home insurance premium = $17,658,020
2013 Home Insurance Complaint Ratio = B (.59)
2013 US home insurance premium = $18,473,107
2012 Home Insurance Complaint Ratio = B (.41)
2012 US home insurance premium = $19,755,244
2011 Home Insurance Complaint Ratio = C (1.00)
2011 US home insurance premium = $24,232,211
2010 Home Insurance Complaint Ratio = B (.35)
2010 US home insurance premium = $25,688,248
American Western Home Insurance Company is available in all of the US states and DC, though it insures very few properties in the USA.
B = Better than Average C = Average W = Worse than Average
2015 Home Insurance Complaint Ratio = W (9.98) 1
2015 US home insurance premium = $998,070
2014 Home Insurance Complaint Ratio = B (0) (No complaints)
2014 US home insurance premium = $1,099,982
2013 Home Insurance Complaint Ratio = B (0) (No complaints)
2013 US home insurance premium = $1,269,181
2012 Home Insurance Complaint Ratio = W (5.73)
2012 US home insurance premium = $1,405,658
2011 Home Insurance Complaint Ratio = B (0) (No complaints)
2011 US home insurance premium = $1,527,776
2010 Home Insurance Complaint Ratio = W (5.30)
2010 US home insurance premium = $1,719,211
American Modern Lloyds Insurance Company is available in Texas only.
3. American Modern Home Insurance Complaint Ratings Compared to Major Competitors.
Foremost Insurance
Home insurance complaint record: The largest Foremost subsidiary, Foremost Insurance Company of Grand Rapids, Michigan, has better annual home insurance complaint ratios than the American Modern Insurance Group companies, but the other Foremost companies are about the same as most of the American Modern companies.
You can check the home & auto insurance complaint statistics for the Foremost companies in my review here.
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