American Modern Insurance Group Review 2024
Written by
Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.
Our American Modern Insurance Group Score:
3 Stars
We award American Modern Insurance Group a final rating of 3 out of 5 stars. Our American Modern Insurance rating considers that the carrier was founded in 1965, giving it nearly six decades of experience in the insurance industry.
The carrier provides many coverage solutions for individuals, including several unique forms of property and auto insurance. American Modern has excellent ratings through AM Best and the Better Business Bureau.
The insurance company has demonstrated solid financial strength over the years. The carrier offers online claims reporting and customer service options such as bill pay.
The carrier’s parent company, Munich Re, has been ranked among the top 100 on the Forbes Global 500 list, which aids its credible reputation. American Modern also offers several discounts for its customers. However, we had to deduct points for the mixed customer feedback about American Modern, as well as its more-expensive-than-average home insurance rates.
American Modern Insurance Group Pros and Cons:
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American Modern Insurance Products by Type
American Modern offers a variety of coverage solutions for individuals. Their products include:
Individual insurance:
- Vacant property insurance
- Full-time home insurance
- Part-time home insurance
- Rental home insurance
- Manufactured home insurance
- Collector vehicle insurance
- Boat insurance
- Yacht insurance
- Motorsports vehicle insurance
- Personal watercraft insurance
Your independent insurance agent can help you decide if American Modern has the right type of coverage to best meet your needs.
American Modern Insurance Group Homeowners Insurance
Homeowners insurance from American Modern Insurance Group offers the standard protections you'd expect to find in a home insurance policy.
Coverage types, features, and benefits:
Personal property
American Modern Insurance Group's contents coverage can provide compensation for personal belongings like clothing and furniture that get stolen, damaged, or destroyed by a listed peril such as fire.
Dwelling
American Modern Insurance Group's dwelling coverage can provide compensation for customers who experience property damage or destruction to their home's structure by a listed peril such as vandalism.
Other structures
American Modern Insurance Group's other structures coverage applies to detached structures around the home, including sheds or garages, and protects against many of the same perils as dwelling and contents coverage, like fire.
Extra coverages
American Modern Insurance Group provides several additional coverage options for its home insurance policies, including water backup or sump pump overflow coverage, water damage coverage, theft coverage, enhanced coverage, and service line failure coverage.
American Modern Insurance Group Home Insurance Average Prices
We gathered some average quotes for home insurance from American Modern Insurance Group by dwelling coverage amount.
| Dwelling coverage limit | Average Annual Cost of Home Insurance |
|---|---|
| $150,000 | $1,323 |
| $350,000 | $2,516 |
| $550,000 | $3,565 |
By comparison, Foremost offers home insurance policies with $150,000 in dwelling coverage for an average of just $788 annually, which is considerably cheaper than American Modern Insurance Group's rates.
What Discounts Does American Modern Offer?
American Modern offers several discounts on various types of property insurance, including:
- Fire station/smoke alarm discount: Offered to customers located close to fire stations or who have smoke alarms installed on their property.
- Burglar alarm discount: Offered to customers with burglar alarms installed on their property.
- Paperless documents discount: Offered to customers who opt to go paperless with their statements, etc.
- Paid in full discount: Offered to customers who pay their premiums for the year upfront in one lump sum.
- No claims in past three years discount: Offered to customers who have not submitted any claims for at least three years.
- Bundling discount: Offered to customers with more than one American Modern policy, such as home insurance and boat insurance.
- Safety devices discount: Offered to customers who have fire or smoke alarms installed in their homes, as well as those who have burglar alarms or deadbolts.
- Loyalty discount: Offered to customers who have been insured by American Modern for at least five years.
- Senior discount: Offered to customers who are homeowners over the age of 50.
- Association discount: Offered to customers who belong to approved associations, such as alumni.
An independent insurance agent can help you find more information about even more discounts and other ways to save with American Modern, as well as provide you with quotes and help answer any other questions you may have.
American Modern Customer Service
American Modern allows their customers to file claims online at any time. The carrier also provides the following customer service options:
- Phone
- Fax
- Online claims reporting
- Online bill pay
- Snail mail
- Customer service department has the following hour restrictions:
| Days | Hours | ||
| Monday-Friday | 8 am - 8 pm | ||
| Saturday-Sunday | Closed |
The best way to handle your customer service needs is to work with an independent insurance agent. These agents help make customer service easier for you by handling claims and other concerns.
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American Modern Insurance Group FAQs
American Modern allows customers to file claims at any time through their website. While the official website does not make a specific claims response time frame promise, it informs customers that their claims will be immediately assigned to an adjuster upon receipt.
American Modern’s phone line for customer service issues is available during extended hours, Monday through Friday. The insurance company allows customers to file claims online, over the phone, or via fax. The carrier also has a social media presence on Facebook, X, and LinkedIn, making them more accessible to customers.
American Modern states that customer claims are immediately assigned to an adjuster who will follow up with them for more information. The adjuster will then schedule an inspection if necessary. Customers can stay updated on the status of their claims by keeping in contact with an independent insurance agent.
American Modern offers online claims reporting and bill pay for its customers. American Modern also has a presence on social media, overall making for a fairly user-friendly experience.
American Modern provides a good selection of coverages for individuals, including boat insurance. Beyond the typical liability and property damage coverage provided by most similar policies, American Modern offers the following options under its boat insurance:
- Loss of fishing gear or personal effects coverage
- Emergency assistance reimbursement coverage
- Search and rescue reimbursement coverage
- Travel loss reimbursement coverage
- Tournament fee reimbursement coverage
American Modern has been around for nearly six decades now. The insurance company has received high ratings through AM Best and the BBB. Further, American Modern provides a unique catalog of coverage options for individuals.
However, there has been mixed customer feedback about the carrier. Overall, American Modern Insurance Group has some pros and cons for prospective customers to consider.
https://news.ambest.com/PR/PressContent.aspx?altsrc=1&refnum=16720
https://policyholders.amig.com/content/munichre/amiggrp/policy-holder/storefront/en/landing-page.html
https://www.bbb.org/us/oh/amelia/profile/insurance-companies/american-modern-property-and-casualty-insurance-company-0292-647/customer-reviews
https://wallethub.com/profile/ci/american-modern-insurance-group-13013297i
https://www.valuepenguin.com/american-modern-insurance-review
https://www.bankrate.com/insurance/reviews/american-modern/
https://clearsurance.com/insurance-reviews/american-modern-insurance-group-5835ece073b103329e91ab7c