American Modern insurance review 2023
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At a glance
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Policyholders with unique insurance needs, such as a collector car or a higher-risk home, might consider American Modern as their company of choice.
Offers insurance to homeowners that standard carriers may have declined due to home type, age or location
Provides a variety of insurance coverage options for recreational and collector vehicles
Being specialized towards riskier automobiles and homes may contribute to higher premiums overall
Some standard types of home and car insurance may not be available from this insurer
American Modern car insurance
The best car insurance company is one that can meet your personalized needs, and drivers looking for collector’s car coverage or coverage for recreational vehicles might find American Modern car insurance a good option. In keeping with the company’s focus on collector cars and recreational vehicles, American Modern has coverage beyond the standard coverage types, like bodily injury and property damage liability, collision, and comprehensive. It offers an agreed value loss settlement component for its auto policies, applicable to various vehicle types: muscle cars, exotics cars, trucks and more. American Modern’s insurance products are available in all 50 states and Washington, D.C.
Pros and cons of American Modern car insurance
Depending on your situation and what you’re looking for in car insurance, American Modern has a few pros and cons to consider.
Auto policies specialized for collector and other recreational vehicles
Agreed value loss settlement available
Online product guide to help customers determine which policies suit their needs
Some customers report a lengthy claims process
No coverage for standard vehicles
No high-risk driver coverage options
American Modern car insurance cost
Car insurance rates can vary significantly between drivers depending on several variables, even when considering the same insurer. Premiums are impacted by location, driving history, yearly mileage, coverage amounts and type, and other personal factors. To see what kind of rate American Modern will offer you, request a quote and specify the type and amount of coverage you’d like. At that point, you can compare your quote to the average cost of car insurance. Depending on eligibility, you may also be able to lower your rates through discounts.
American Modern car insurance discounts
To help save on auto premiums, American Modern offers a few discounts that drivers may be eligible for.American Modern offers credits to customers with high-value collector vehicles, depending on how the vehicles are stored and protected.An approved car club membership could provide a discount.In some states, American Modern offers up to 10 percent off for drivers who have completed an accident prevention course.American Modern offers up to a 20 percent discount for installed anti-theft devices, depending on the feature. Discount amounts can vary between states.
American Modern car tools and benefits
American Modern does not offer car services outside of its insurance products.
American Modern home insurance
American Modern home insurance may be of particular interest to people whose homes don’t meet standard home insurance requirements.
American Modern offers modified homeowners insurance packages to offer specialized coverage to homes that don’t qualify for traditional insurance. Additionally, in some states, its Homeowners FLEX program extends coverage based on the standard HO-3 policy to homeowners outside of the standard market. This plan offers open peril protection and replacement cost settlement. In other states where this option is unavailable, the company offers its Homeowners package, an alternative to HO-3 policies with named peril protection and actual cash value settlement. In both cases, American Modern specializes in covering homes that might have difficulty getting adequate coverage elsewhere.
Pros and cons of American Modern homeowners insurance
There are a few potential benefits and downsides when looking at American Modern homeowners insurance. Finding the best home insurance for you may require getting quotes from multiple companies.
Covers homes that may have been declined by standard carriers due to location, age or home type
Has an A+ (Superior) rating from A.M. Best, highlighting financial strength
Policies are available for specialty markets such as mobile homes and seasonal homes
Named peril policies may cover fewer perils than some competitors
Available discount savings may be less than those of competitors
American Modern home insurance cost
According to our research using Quadrant Information Services, the 2023 annual average cost for $250,000 in dwelling coverage from this company is $1,560. For comparison, the national annual average cost for $250,000 in dwelling coverage is $1,428. American Modern has average costs slightly above the national average, and may not be the cheapest home insurance provider for some.
Dwelling coverage limit American Modern average annual premium National average annual premium $150,000 $999 $975 $250,000 $1,560 $1,428 $350,000 $2,119 $1,879 $450,000 $2,680 $2,343 $750,000 $4,400 $3,761
American Modern home insurance discounts
American Modern home insurance discounts vary by the coverage program you choose, and availability could be impacted by your location. However, some of its discounts include:When you use the same agent for home and auto (and your home insurance is through American Modern), you may be eligible for a homeowner policy discount.If your policy stays in effect for five years or more, you may be eligible for savings.You may be eligible for a discount if you go three or more years without filing a claim on your policy.Policyholders who are 50 or older may be eligible for a variable discount on their policy.
American Modern home tools and benefits
American Modern does not offer home services outside of its homeowner insurance policies.
American Modern customer satisfaction
There are several trusted third-party entities that review and rate insurers, some of which we considered in our American Modern Insurance review. Two of the more prominent company ratings are customer satisfaction and customer complaints, as provided by J.D. Power and the National Association of Insurance Commissioners (NAIC), respectively. These ratings and scores can highlight which companies perform better based on collected data.
American Modern auto satisfaction
American Modern property and casualty insurance received an NAIC complaint score of 1.18 on private passenger insurance, which is just above the baseline of 1.0. The higher the score is over the baseline of 1, the more complaints have been filed. This means, regarding private car insurance, that American Modern had roughly the expected number of complaints for a company of its size. American Modern did not score on the J.D. Power survey for auto insurance.
American Modern Homeowners satisfaction
American Modern home insurance is unrated by J.D. Power, but has an NAIC complaint score of .77 for homeowner insurance. This means the company’s home insurance products received fewer than average complaints for a company of its size.
How to file a claim with American Modern
There are a few ways to file a claim with your American Modern insurance policy. Claims can be filed online through its website, handled over the phone, mailed or corresponded via fax. To file online, visit the American Modern claim page and follow the prompts. To file by phone, call 800-375-2075. To send your claim by fax, use fax number 513-947-4040.
American Modern availability
American Modern has insurance products available in all 50 states and the District of Columbia. However, coverage types, amounts and discounts can all vary by state.
Other American Modern perks worth considering
Beyond its auto and home coverage, there are a few other features and insurance options to consider when considering American Modern.
- Mobile app: American Modern offers a free mobile app for policyholders to manage their plans.
- Landlord insurance: Landlords can choose from short and long-term rental insurance to help deal with the risks that rentals face.
- Condominium insurance: American Modern offers condominium policies that cover the interior and contents of your condominium.
- Pet health insurance: This optional add-on may be added to home insurance policies, and can help cover medical costs for pets.
American Modern corporate sustainability
American Modern has a stated community commitment that includes partnering with several companies to help support various causes, including money-raising campaigns for the United Way. Other companies it has partnered with include the following:
- Amelia, Batavia and Milford Schools
- Boy Scouts of America
- Children’s Hospital and Mercy Hospital
- Clermont 20/20
- Clermont Senior Services
- Eastside Youth Athletic Trust Fund
- University of Cincinnati, Miami University, Xavier University
The company also focuses on environmental initiatives, such as maintaining a low carbon footprint.
Not sure if American Modern is right for you?
Finding the right insurance company can be tricky, and it’s often wise to shop around and get quotes from multiple insurers before making a decision. If you’re still considering whether or not to go with this company, a few competitor options are listed below for comparison.
American Modern vs. Progressive
While American Modern does not have policies specialized for high-risk drivers, Progressive does. Drivers looking for affordable car insurance after being categorized as high-risk may find Progressive attractive. High-risk drivers may have difficulty finding affordable policies from some insurers due to their risk status. Therefore, companies specializing in policies for these types of drivers can be beneficial.
Learn more: Progressive Insurance review
American Modern vs. Liberty Mutual
People looking to bundle life insurance with home or auto may consider Liberty Mutual. Like American Modern, Liberty Mutual is available throughout the nation. However, unlike American Modern, this company offers life insurance on top of home and auto policies and has a broader range of potential discounts.
Learn more: Liberty Mutual Insurance review
American Modern vs. Allstate
Like American Modern, Allstate has some policy specializations for collector cars. However, the coverage options available for these types of vehicles may be more limited with Allstate. Still, Allstate scores consistently high with third-party ratings, like those from J.D. Power, and offers life insurance on top of home and auto. People looking for specialty car coverage who do not want to use American Modern may prefer Allstate.
Learn more: Allstate Insurance review
Is American Modern a good insurance company?
Like the hundreds of other companies Bankrate’s insurance industry experts have reviewed, American Modern has its perks and drawbacks. This company may be ideal for some people due to its specialized coverage and strong financial standing for both homeowners and private passenger auto insurance. Drivers of collector cars, owners of recreational vehicles, or people with homes that do not qualify for coverage in the standard market may find American Modern especially appealing. However, the company likely won’t be an option for consumers seeking high-risk auto insurance or who qualify for traditional home insurance.46years of industry expertise122carriers reviewed20.7KZIP codes examined1.2Mquotes analyzed
Bankrate utilizes Quadrant Information Services to analyze 2023 current rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
- Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
- Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
- Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.On This Page