American Bankers Insurance Review (2023)
If you are looking for home or flood insurance, you may want to consider American Bankers Insurance Company. American Bankers Insurance offers homeowners and flood insurance coverage throughout the U.S., though the company is located in Florida. As a subsidiary of Assurant Insurance, American Bankers has a strong financial rating and future outlook.
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UPDATED: Jun 28, 2022
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- American Bankers Insurance Company is a subsidiary of Assurant Insurance Company
- American Bankers Insurance offers homeowners insurance as well as flood insurance coverage to individuals in several U.S. states
- Homeowners insurance rates with American Bankers Insurance are a bit lower than average, but your actual rates will depend on a number of factors
If you’re searching for home or flood insurance, you may want to consider American Bankers Insurance Company. Located in Florida, American Bankers Insurance is a subsidiary of Assurant Insurance Company and is a property and casualty insurance company that sells flood and homeowners insurance policies.
Anyone interested in American Bankers Insurance products is essentially interested in the Assurant Insurance Company. Assurant is available throughout the U.S. and internationally in certain areas in South America as well as Europe.
As you search for insurance products, you should always be sure to find and compare rates from multiple companies in your area in order to find the best home insurance policies. This will help you make sure you pay the right amount for coverage rather than overpaying.
Be sure to use our free quote tool above to find and compare rates from the best companies in your area today.
What does American Bankers Insurance offer?
The American Bankers Insurance Company offers flood insurance and homeowners insurance to clients in several U.S. states.
American Bankers underwrites both flood and home insurance policies under the Assurant Insurance Company name. Assurant has several other subsidiaries that underwrite policies throughout the U.S. and internationally.
One of American Bankers Insurance Company’s focuses is on covering manufactured homes as well as offering renters insurance coverage. With an American Bankers homeowners insurance policy, you will likely have the following coverage:
- Your actual home in case of fire, theft, hurricane, hail, lightning, and other natural disasters
- Additional structures on your property
- Personal belongings inside your home
- Liability to cover bodily injury or property damage caused to others
- Additional living expenses if your home is damaged
- Flood coverage for all structures, if you’ve purchased flood insurance
While American Bankers Insurance Company offers helpful homeowners and flood coverage, the company has a notoriously confusing website. Because American Bankers Insurance is owned by Assurant, you would be better off visiting the Assurant website than you would trying to find the correct American Bankers website to get information on a homeowners policy or flood insurance coverage.
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How much is insurance with American Bankers?
The only way to know how much you would pay for a homeowners insurance policy with American Bankers is to get a direct quote from Assurant. The American Bankers website does not offer quotes, nor does it have much information when it comes to speaking directly with an insurance agent.
Assurant homeowners policies tend to be a bit lower than average. But this will depend on a number of factors. The table below shows average monthly homeowners insurance rates with several different big-name companies in the United States.
|Company||Average monthly cost|
|American Family Insurance||$108|
As you can see, homeowners insurance rates vary significantly and can cost anywhere from $83 a month to over $160. Shopping around for insurance coverage will help you narrow down how much you can actually expect to pay for homeowners coverage.
The same is true for flood insurance as well. With the average cost of flood insurance being under $70 a month, you can get a direct quote that helps you better understand what your rates for flood insurance would be based on your unique situation.
Does American Bankers Insurance Company have good reviews?
American Bankers doesn’t have many online reviews, though plenty of customers and potential policyholders have commented on the company’s confusing and outdated website. But since American Bankers is a subsidiary of Assurant, we will need to look there for more specific reviews.
Luckily, Assurant Insurance Company has an A (excellent) financial strength rating with A.M. Best. Assurant also has a stable outlook when it comes to future policies and claims. Additionally, Assurant has an A+ rating with the Better Business Bureau and a 3.5 out of five-star rating.
This can offer you peace of mind if you’re considering purchasing a homeowners or flood insurance policy with American Bankers Insurance Company. But before you make any final decisions or commitments, be sure to shop around online and compare quotes from multiple companies.
As you do your own research on homeowners and flood insurance, you may find that you can get better deals with great coverage from other companies. But you’ll never know until you compare insurance quotes from several different companies at once.
In fact, you can use our free quote tool below to find and compare homeowners and flood insurance rates that would work best for you.
Bankers are good backers