American Bankers Insurance Company of Florida: Customer Ratings & Reviews [2023]

Is American Banks Insurance Company of Florida a Good Choice?

American Bankers Insurance is an insurance company owned by Assurant. There’s not much online about American Bankers, so it isn’t easy to know what the company offers. Still, American Bankers Insurance’s parent company, Assurant, provides the following insurance products:

• Specialty
• Renters
• Auto
• Homeowners
• Flood
• Pre-funeral

American Bankers may not be a good insurance company for you if you’re looking for a specific type of insurance not listed above. However, you can contact American Bankers to learn more about its products and whether it would be a good fit.

American Bankers’ flood insurance may be helpful if you’re a Florida resident in a moderate or high-risk flood area. 

Does American Bankers Insurance Company have good ratings and reviews?

Assurant has an A (Excellent) financial strength rating with A.M. Best and a stable outlook for future endeavors. Still, American Bankers is not rated by A.M. Best, the Better Business Bureau, or J.D. Power.

Customer reviews suggest that some policyholders are unhappy with American Bankers’ claims process, and other individuals cite high coverage rates or a higher recurring charge than what was quoted.

Before purchasing insurance with American Bankers, read customer reviews online to learn more about the company.

American Banks Insurance Company of Florida Rates

Insurance rates vary for several reasons. For example, if you’re looking for auto insurance, your rates may be impacted by different factors than if you’re searching for renters insurance.

First of all, your rates will change depending on the amount of coverage you select. You can get an idea of what to expect for minimum coverage when you compare the rates of the top insurers in the industry.

When you add comprehensive and collision coverage, your rates will increase but you’ll also be better protected.

Depending on the type of insurance you’re looking for, your rates could vary based on:

• Age
• Gender
• ZIP code
• Credit score
• Driving history
• Occupation

You can call American Bankers Insurance Group to get quotes for coverage based on your unique factors. Still, you should compare any quote to other companies to ensure you’re not paying too much for coverage.

How does your driving record affect your rates?

Speeding tickets will affect what you pay for car insurance. Take a look at the chart below to get an idea on just how much rates can increase with one traffic ticket.

Drivers should expect even larger rate increases if they are in a car accident and are considered to be at fault.

As with speeding tickets and accidents, a DUI will drastically increase your insurance premium. Some insurers won’t even offer insurance to drivers with a DUI.

Take a look at the chart below to see how each of these violations may increase your monthly auto insurance rates.

You can see why it pays to keep a clean driving record.

How does your age and credit score affect your car insurance rates?

Your age plays a significant factor in how much you pay for car insurance. A teenage driver is going to see the highest rates because they’re new to the road and have very little experience.

Here’s an idea of what you can expect to pay if you’re a teenage driver.

Once you turn 25 years old, you will see your rates begin to decrease as long as you’ve kept a clean driving record.

But when drivers reach 65 years old, they can expect the rates to increase again.

Your credit score can also impart your car insurance rates. Insurers see drivers with poor credit to be of higher risk. Take a look at how your rates fluctuate depending on your credit score.

With so many factors influencing your insurance rates, it is always recommended that you shop around with multiple insurance companies for quotes.

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American Banks Insurance Company of Florida Discounts Available

You may be able to get discounts on insurance products with American Bankers. To be sure, you’ll need to speak with a company representative.

Some discounts could help you save as much as 25% on your insurance premiums, so you should see whether you qualify for any discounts with American Bankers.

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