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American Modern Insurance Review 2022: Home & Car

A nice, silver car in a garage in front of a house.
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Founded in 1965, American Modern Insurance was one of the first companies to offer mobile home insurance. Today, the carrier has extended its options to drivers and homeowners who might have difficulty finding coverage with traditional insurance companies. In addition to homeowners insurance, American Modern has also moved into the car insurance space for collector car and recreational vehicle insurance.

Perks Drawbacks
Accepts homeowners insurance that may have been declined from standard carriers due to location, age or home type High NAIC complaint score indicates the company has four times as many complaints compared to the average
Provides a variety of insurance coverage options for recreational and collectible vehicles Standard home and auto policies may not be available

American Modern’s policies are available in all 50 states and Washington, D.C. Its homeowners insurance could be a solution for homes that may be denied or surcharged at other insurance carriers, for issues such as age, condition, value or claims history. For car insurance, owners of collector cars know that a standard car insurance policy may not be enough for their car. America Modern allows collector car owners to explore unique coverage options tailored for their vehicle.

American Modern car insurance

American Modern did not make our list of best car insurance companies, but for owners of collector cars, American Modern’s collector car insurance may provide the needed level of personalization, whether it’s a classic car, muscle car, race car, kit car or another covered vehicle type. Although basic coverage options are similar to a standard auto insurance policy — including bodily injury and property damage liability, as well as collision coverage and comprehensive coverage — American Modern also offers options for drivers who use their car regularly or bring their car to car shows.

What collector cars might appreciate most is American Modern’s agreed value loss settlement. During the policy creation process, you will work with the company to agree on the car’s value, which is also its insured amount. In the event of a total loss, that amount is what will be paid out to you without depreciation. However, note that the deductible still applies and the settlement amount may include any applicable taxes and fees.

American Modern car insurance discounts

With American Modern auto insurance, drivers can take advantage of several discounts for a lower premium. These opportunities to save on car insurance may be different from those on a standard auto insurance policy. Here are the discounts currently available:

  • Collections valued over $150,000: For high-value collections, American Modern provides credits based on how the vehicles are stored. Considerations include the security features and fire resistance of the storage facilities, as well as if the cars are stored in multiple locations.
  • Car club membership: Drivers may earn up to a 10% credit if the driver is part of an approved club.
  • Anti-theft device: Drivers can receive a discount up to 20% depending on the type of anti-theft device installed on their vehicle. Though it varies by state, typically the discounts average 5% for an alarm, 5% for an active disabling device, 15% for VIN etching and 20% for an electronic vehicle ID system.
  • Accident prevention course: While this discount is only offered in some states, drivers can earn between 5% and 10% for completing the course.

American Modern car services

American Modern does not offer any additional car services to drivers apart from auto insurance.

American Modern home insurance

American Modern home insurance could be a good option for homeowners who do not qualify for coverage from a preferred insurance carrier. This could be due to the home’s age, condition, location, type, value or even claims history.

Depending on state availability, American Modern offers a Homeowners Flex, which is similar to a standard homeowners insurance policy in that it includes open peril protection and replacement cost settlement. In states where this is not available, American Modern offers its basic Homeowners policy, which is a named peril protection and actual cash value settlement (ACV), although additional coverage options to amend this may be included for an additional fee.

American Modern home insurance discounts

Like many of the best homeowners insurance companies, both the Homeowners Flex and the Homeowners policy with American Modern include discount opportunities. While the Homeowners policy previously only included discounts for alarm systems in certain states, the new version of the policy now includes similar discounts as the Homeowners Flex. Some unique discount options include:

  • Pay in full: If your homeowners insurance with American Modern is paid in full, the company may provide a discount on the overall premium. This is not commonly seen with standard homeowners insurance policies with traditional carriers.
  • Auto policy with agent: If your auto policy is insured with the same agent that is also insuring your American Modern home, even if your auto isn’t with the same company, your homeowners insurance could receive a discount. This refers to the standard auto insurance policy, so you don’t need to have a collector car insured with American Modern to qualify for this discount.
  • No claim in the past 3 years: If you have not had a claim on your homeowners insurance within this time frame, American Modern may add a discount to your policy.

American Modern home services

Apart from homeowners insurance, it does not appear that American Modern offers any additional home services for policyholders.

Other American Modern perks worth considering

To round out this American Modern insurance review, below are a few more insurance products offered by the company. These include:

  • Pet health: This insurance type could help with medical costs related to a pet by reimbursing up to 90% for covered medical bills.
  • Condominium: Condominium owners need a different type of insurance compared to single-family homeowners. This policy type specifically insures the interior of your unit.
  • Rental property: A landlord or rental property insurance policy is specifically made for the risks that owners face while renting out a property. While most landlord policies are for long-term rentals, American Modern also includes a coverage option for short-term rentals.

American Modern social responsibility

As American Modern’s headquarters are located in Cincinnati, Ohio, the company has supported many local organizations such as Adopt-A-Family, Eastside Youth Athletic Trust Fund and Clermont 20/20. The company also set a goal for its building to be carbon-neutral by 2015 by updating its freezers, motion detection light sensors and installing more efficient lighting.

Written by
June Sham
Insurance Writer
June Sham is an insurance writer for Bankrate. Before joining the team, she worked for nearly three years as a licensed producer writing auto, property, umbrella and earthquake policies.
Edited by
Insurance Writer & Editor