AmFed Insurance Company at a Glance
- Founded in 1993
- Offers workers’ compensation coverage
- Coverage available in 13 states
- Coverage coming soon in Florida, Illinois, and Texas
- “A-” (excellent) rating by A.M. Best
- Not rated by the Better Business Bureau (BBB)
- Offers multiple deductible options
- Offers online find-an-agent tool
- Strong financial stability
AmFed pros: More than 25 years’ worth of experience in the insurance industry. Offers worker's comp coverage with multiple deductible options. Also offers other risk management services. High rating through A.M. Best. Good financial strength.
AmFed cons: Not rated by the BBB. Not BBB accredited. Difficult to find customer feedback. Not much information about claims process or coverage provided on official website. No online claims reporting or online bill pay. Official website could use a major update. Limited coverage options. Coverage not available nationwide.
What Type of Insurance Does AmFed Offer?
AmFed is a specialized insurance company, with a focus on coverage for injured workers. Their only insurance product offered is:
- Worker's compensation insurance
Your independent insurance agent can help you find more information about the coverage offered by AmFed and help you decide if this insurance company is right for you.
What to Know about AmFed
AmFed was founded in 1993, giving the carrier just over a quarter of a century’s worth of experience in the insurance industry. The insurance company was founded in Mississippi, with a mission to help improve the state’s worker's comp market. AmFed currently offers coverage in 13 states in the Southeast region of the country, with plans for three others to join their network soon.
Today, AmFed still focuses its efforts on providing worker's comp solutions for employees in need. The carrier offers several coverage options, including varying deductible amounts. AmFed has demonstrated solid financial strength over its lifetime, with A.M. Best placing the carrier in the $25-50 million financial size category. The carrier does have a LinkedIn profile, but only 11 of its employees can currently be found on the social media platform.
Thanks to its history, growing reach, and financial strength, AmFed has earned a reputation as a stable insurance company with a positive outlook for the future. A.M. Best, the leading global credit rating agency monitoring the insurance industry, gives AmFed an “A-” rating, indicating the carrier is an excellent choice for insurance customers. High ratings from A.M. Best assure customers that AmFed is capable of offering guaranteed, secure coverage from a financially sound carrier.
Established in 1899, A.M. Best is one of the oldest rating companies in the world. Reviews from A.M. Best indicate an insurance company’s financial strength and creditworthiness, and are based on comprehensive evaluations of the company’s operating performance, business profile, and balance sheet. For customers who aren’t as familiar with insurance companies’ respective reputations, A.M. Best’s ratings system allows them to make an informed decision about who they can trust to meet their needs in the short term and also to remain a strong, financially sound company in the long term.
What Discounts Does AmFed Offer?
While AmFed does not make information about their specific discounts readily available, there are several standard discounts commonly offered by many worker's compensation insurance companies today. These discounts include:
- Safe premises discount: Offered to worker's comp customers who provide a safe working environment for their employees.
- Formal safety plan discount: Offered to worker's comp customers who enforce a mandatory safety plan in their workplace.
- Equipment safeguards discount: Offered to worker's comp customers who protect employees from dangerous equipment in the workplace by covering it with safeguards when not in use.
- Hygiene procedures discount: Offered to worker's comp customers who enforce strict hygiene protocols in the workplace.
- No hazardous materials discount: Offered to worker's comp customers whose employees do not have to interact with hazardous materials on the jobsite, such as chemicals.
An independent insurance agent can provide more exact discount information and premium quotes for coverage through AmFed. When it comes to coverage, independent insurance agents work hard to help to get you the most bang out of your buck.
AmFed Customer Service
AmFed does not advertise 24/7 phone claims reporting. However, they do have a claims reporting line available for “after business hours.” The carrier provides the following customer service options:
- Phone claims reporting
- Fax contact option
- Email contact option
- Snail mail contact option
- Customer service hotline has the following hours restrictions:
|Monday-Friday||8 am - 4:30 pm|
The best way to ensure a smooth customer service experience is to work with an independent insurance agent. Independent insurance agents can help handle claims and other concerns for you, so you can relax and enjoy your coverage.
What is AmFed's average claim response time frame?
AmFed offers claims reporting through a couple of mediums. However, the insurance company does not provide an official claims response time frame promise. AmFed does encourage customers to file claims “immediately to ensure prompt investigation and payment of benefits as a delay may result in penalties,” as stated by their website.
What is AmFed's customer service availability?
AmFed allows customers to file claims over the phone or through email, fax, or regular mail. Their hotline for customer service inquiries is available at restricted hours, Monday-Friday. The insurance company also provides an after-hours claims reporting hotline. The carrier does have a social media presence on Facebook and LinkedIn, which makes them a bit more accessible to customers.
What is AmFed's claims process?
AmFed offers a couple of options for claims reporting. However, the insurance company does not detail their claims process on their official website or social media platforms. If customers have questions about filing or the claims process itself, they can contact the carrier via phone or email, or get in touch with their independent insurance agent.
Does AmFed create a user-friendly experience for customers?
Does AmFed have good worker's compensation insurance?
AmFed focuses its efforts on worker's comp insurance. However, their official website does not provide much information about their coverage. AmFed’s official website only states the following details about their insurance:
- Guaranteed cost worker's compensation coverage
- Medium and large deductible options
- Innovative risk transfer solutions
- Third party administration
AmFed also offers other risk management services. The carrier really encourages prospective customers to get matched with an agent before offering more details about their coverage. Your independent insurance agent can help you find out much more information about the insurance company’s worker's comp coverage and their other services offered.
Is AmFed a good insurance company?
AmFed has been around for just over a quarter of a century now. The carrier has been highly rated by A.M. Best. However, they have not been rated or accredited by the BBB, which is somewhat of a red flag for modern carriers. It’s difficult to find much information about their coverage and even more difficult to find customer feedback about the carrier. There are only a couple of reviews spotted on the web, and two-thirds of them are negative. The insurance company also does not provide modern customer service options that are expected of carriers today. Overall, we’re hesitant to call AmFed a good insurance company.
AmFed Customer Reviews
|“Very helpful people that were courteous, but sometimes takes a while to actually get people on the phone.”|
|“WHAT A JOKE! So this company only allows you to make payments through the mail. Wow, really? Then they don't even bother to SEND you your bill and payment return info. How convenient. THEN when you call to ask how to make a payment because you haven't yet received your bill in the mail and your payment is due, you'll get to speak with some woman who will basically call you a liar and tell you you're receiving your bill because she's SURE they've mailed it. And yet here we are! I'd HIGHLY recommend going with ANY OTHER COMPANY! (if you value customer service and reliable companies).”|
TrustedChoice.com's Final Review
We award AmFed insurance company a final rating of 2 out of 5 stars. The insurance company has been around for about 27 years now and has been highly rated by A.M. Best. However, the carrier has not been accredited or even rated through the BBB, which already leaves them behind most other carriers today in terms of credibility. Coverage is currently offered in 13 states, and AmFed’s product catalog is extremely limited, with a focus on only worker's comp coverage. The insurance company does not provide online claims reporting or online bill pay, which are two major customer service options offered by most modern carriers. It’s also extremely challenging to find customer feedback about the carrier, with only a couple of reviews spotted across the entire web. The insurance company’s website could benefit from a major update, with a pressing need for more information to be added about the carrier’s claims process and coverage options. Unfortunately, it’s difficult to say many positive things about this carrier. So, our recommendation is that if you’re in the market for worker's comp coverage, work together with your independent insurance agent to survey your other options before settling on AmFed to be your next trusted carrier.
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