American national insurance Review
As an independent insurance agent with Blake Insurance Group, I understand that choosing the right insurance provider is a critical decision for you and your family. In this review, we’ll examine American National Insurance, a company with a long-standing reputation for providing reliable and comprehensive insurance solutions.
Whether you’re in Arizona, Alabama, Florida, Georgia, New Mexico, New York, North Carolina, Oklahoma, Ohio, Texas, or Virginia, this review will help you understand what American National Insurance offers and why it might be the right choice for your insurance needs.
American National Insurance has been serving customers since 1905. It offers a wide range of insurance products, including auto, home, life, and business insurance. Its commitment to financial stability and customer service has earned it high ratings from industry experts.
In this article, we’ll explore the various types of coverage available, the benefits of choosing American National, and what sets them apart from other insurance providers. We’ll also discuss state-specific considerations to ensure you have all the information you need to make an informed decision. Let’s dive in and see how American National Insurance can provide the protection and peace of mind you deserve.
American National Insurance’s financial strength and stability are reflected in its ratings from major rating agencies such as A.M. Best, Fitch, and S&P Global.
A.M. Best has given American National Insurance an “A” rating, indicating an “Excellent” financial strength. This rating is based on the company’s consolidated solid risk-adjusted capitalization, statutory capital, and surplus growth, continued profitable earnings, and diverse product offerings.
Fitch Ratings has also affirmed American National Insurer Financial Strength (IFS) rating at ‘A,’ indicating a strong capacity to meet policyholder and contract obligations. The outlook is stable, suggesting that the rating is not likely to change soon.
Disclaimer: We are not in any way affiliated with American national insurance. We are independent insurance agents that offer top-rated insurance products from multiple companies to get you the best quote possible. This article is our personal review of their personal insurance and Business insurance program, along with our opinions on the matter. If you want to contact American National Insurance directly, The company headquarters telephone number in Galveston, Texas, is (409) 763-4661.
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S&P Global Ratings has affirmed its ‘A’ rating on American National Insurance, indicating a solid capacity to meet financial commitments. The outlook is stable, so the rating is unlikely to change in the short term. S&P Global Ratings also noted that American National has a satisfactory competitive position and excellent capital adequacy.
These ratings indicate that American National Insurance has a strong financial foundation well-positioned to meet its policyholder obligations. This financial stability is important for potential clients when choosing an insurance provider, as it assures them that the company can fulfill its financial commitments.
American National Insurance products
Auto Insurance
American National provides various auto insurance options to protect you and your vehicle. Their policies include liability, collision, and comprehensive coverage, with additional benefits such as:
* **Car Rental Coverage**: Included at no additional charge for comprehensive and collision customers.
* **Single Deductible**: If both your home and vehicle are damaged in the same incident, you only pay one deductible.
* **Customized Equipment Coverage**: Up to $2,000 for customized equipment on your vehicle.
* **Deductible Waiver**: Possible discount or waiver of your deductible if involved in an accident with another vehicle insured by American National.
Home Insurance
American National offers robust home insurance policies to protect your property, whether you own a home, condo, or rent. Coverage options include:
* **Homeowners Insurance**: Protection against damage to your home and personal property.
* **Renters Insurance**: Coverage for personal belongings and liability for renters.
* **Condo Insurance**: Specialized coverage for condo owners, including personal property and liability protection.
Life Insurance
Life insurance is a cornerstone of financial planning, and American National provides several options to suit different needs:
* **Term Life Insurance**: Affordable coverage for a specified period.
* **Whole Life Insurance**: Permanent coverage with a cash value component.
* **Universal Life Insurance**: Flexible permanent coverage that allows you to adjust your premiums and death benefits. Additional riders can customize your policy to include options like disability waivers and coverage for children.
Business Insurance
Protecting your business is crucial, and American National offers a range of business insurance products:
* **General Liability Insurance**: Coverage for bodily injury, property damage, and legal expenses.
* **Property Insurance**: Protection for your business property and equipment.
* **Cyber Liability Insurance**: Coverage for data breaches and cyber-attacks.
* **Commercial Auto Insurance**: Insurance for vehicles used in your business operations.
Health Insurance
Health insurance is essential for managing medical expenses, and American National provides various health insurance plans:
* **Preferred Provider Organization (PPO) Plans**: These plans offer higher coverage levels and reduced premiums by directing business to network providers. You can choose any provider within the network, and emergency services are covered even if they are out of network.
Specialty Insurance
American National also offers specialty insurance products to cover unique needs:
* **Credit Insurance ** protects your loan obligations in case of unexpected life events, such as death, disability, or unemployment.
* **GAP Insurance**: Covers the difference between the outstanding loan balance and the primary insurance payment in case of a total loss or theft of the collateral.
* **Debt Cancellation/Protection**: Provides financial protection when a covered event impairs your loan repayment ability.
Annuities and Pension Products
For those looking to secure their financial future, American National offers annuities and pension products:
* **Annuities**: Provide a steady income stream during retirement.
* **Pension Risk Transfer**: Solutions for businesses to manage pension liabilities.
Coverage Options and Benefits
Comprehensive Coverage Options
American National Insurance provides various comprehensive coverage options tailored to meet the diverse needs of its clients. Here are some highlights:
* **Auto Insurance**: Their auto insurance policies include liability, collision, and comprehensive coverage. Additional benefits include:
* **Car Rental Coverage**: Included at no extra charge for comprehensive and collision customers.
* **Single Deductible**: If both your home and vehicle are damaged in the same incident, you only pay one deductible.
* **Customized Equipment Coverage**: Up to $2,000 for customized equipment on your vehicle.
* **Deductible Waiver**: You may be eligible for a discount or waiver of your deductible if you are involved in an accident with another vehicle insured by American National.
* **Home Insurance**: American National offers homeowners, renters, and condo insurance with flexible plans for specific needs and budgets. Coverage includes protection for the structure of your home, personal property, and liability.
* **Life Insurance**: Options include term life, whole life, and universal life policies, which can be customized with various riders and benefits to suit individual financial planning needs.
* **Business Insurance**: Coverage options include general liability, property insurance, cyber liability, and commercial auto insurance, providing comprehensive protection for business operations.
* **Specialty Insurance**: This category includes products like GAP insurance, which covers the difference between the outstanding loan balance and the primary insurance payment in case of a total loss or theft of the collateral.
Discounts and Savings
American National Insurance offers several discounts to help clients save on their premiums:
* **Multi-Policy Discounts**: Clients can save by bundling their auto, home, and life insurance policies. This can lead to significant savings, such as the TLC (Tri-Line Coverage) discount, which can offer up to a 15% discount on qualifying auto and home coverages.
* **Safe Driver Discounts**: Rewards for maintaining a clean driving record, including the Preferred Automobile Customer Plus (PAC+) discount, offer up to a 25% discount for continuously insured.
* **Claim-Free Discounts**: Clients can earn cash back if they remain claim-free for three years, applicable to both auto and home insurance policies.
* **Good Student Discounts**: For students who achieve a “B” average or are on the Dean’s List or Honor Roll.
* **New Parent Discounts**: Discounts for families with young children, offering 5% off the primary driver’s premium when the youngest child is age 2 or younger and 3% off when the child is aged 3 through.
Unique Perks
American National Insurance provides several unique perks that set them apart from other insurers:
* **Cash-Back Program**: Clients with auto and home policies can earn back a percentage of their premiums by remaining claim-free for three years.
* **Single Deductible Benefit**: If both your auto and home are damaged in the same incident, you only pay one deductible, which can significantly reduce out-of-pocket expenses.
* **Discounted or Waived Deductibles**: If you’re in an accident with another American National customer, you may pay a lower deductible or none.
* **Comprehensive Claim-Free Discount**: Not having a comprehensive coverage claim in the prior 3-5 years can result in a 15% discount, and six or more years can lead to a 30% discount.
Customer Experience and Support
Customer Service
American National Insurance is committed to providing excellent customer service, offering multiple channels for support and claims reporting. Here are some key features:
* **24/7 Claims Reporting**: Clients can report claims any time through the company’s dedicated claims hotline or online claims center.
* **Support Availability**: Customer service representatives can assist with inquiries and policy management. The support hours are Monday to Friday from 6 a.m. to 10 p.m. CST, Saturday from 7 a.m. to 7 p.m. CST, and Sunday from 9 a.m. to 7 p.m. CST.
* **Multiple Contact Options**: Customers can contact via phone, email, or fax for assistance with their policies.
Complaint Index and Ratings
American National Insurance’s performance in terms of customer complaints is mixed:
* **NAIC Complaint Index**: According to the National Association of Insurance Commissioners (NAIC), American National has a relatively low number of complaints for a company of its size, a positive indicator of customer satisfaction.
* **Customer Reviews**: Reviews on platforms like WalletHub and Yelp reveal various experiences. While some customers praise the company’s service and support, others report communication and claims processing issues. Common complaints include delays in claims handling and difficulties getting customer service responses.
* **Ratings**: American National holds an “A” (Excellent) rating from AM Best, reflecting strong financial stability. However, it is not accredited by the Better Business Bureau (BBB) and has received mixed customer feedback.
Ease of Use
American National Insurance aims to make managing policies and filing claims as easy as possible through its digital platforms:
* **Website**: The American National website provides essential information and resources for policyholders, including the ability to view policies, track claims, and access annuity funds. However, some users find the website somewhat restrictive compared to other modern insurance carriers.
* **Mobile App**: The AN Mobile app, available for both Apple and Android devices, enhances user experience by offering features such as:
* **Multi-Factor Authentication**: Ensures greater account security.
* **Auto and Home Claim Reporting**: Allows users to report claims directly through the app.
* **Payment Options**: Secure one-time payments can be made through the app.
* **Auto ID Cards**: Access to digital auto ID cards.
* **Roadside Assistance**: Request assistance without logging in.
* **Help Center**: Provides contact information for agents and customer support.
comparison table with the medium-sized insurance companies similar to American National that provide a range of coverages
| Insurance Company | Coverage Types | Average Cost | Options | Customer Satisfaction |
|---|---|---|---|---|
| Amica Mutual Insurance | Auto, Home, Life, Umbrella | $1,825/year (auto) | Accident forgiveness, roadside assistance | 4.5/5 (J.D. Power) |
| Auto-Owners Insurance | Auto, Home, Life, Business | $1,430/year (auto) | Roadside assistance, new car replacement | 4.5/5 (J.D. Power) |
| Erie Insurance Group | Auto, Home, Life, Business | $1,053/year (auto) | Rate lock, accident forgiveness | 4.5/5 (J.D. Power) |
| Mutual of Omaha | Life, Health, Medicare Supplement, Long-Term Care | $184/year (renters) | Guaranteed whole life insurance | 4.5/5 (J.D. Power) |
| Cincinnati Financial Corporation | Auto, Home, Life, Business | $1,239/year (auto) | Personalized service, roadside assistance | 4.5/5 (J.D. Power) |
| The Hanover Insurance Group | Auto, Home, Business | $3,718/year (auto) | Platinum package, accident forgiveness | 4.5/5 (J.D. Power) |
| Mercury Insurance | Auto, Home, Umbrella | $1,481/year (auto) | Multi-policy discounts, roadside assistance | 4.5/5 (J.D. Power) |
| United Fire Group (UFG) | Auto, Home, Life, Business | $247 million (net premiums written) | Comprehensive coverage, multi-policy discounts | 4.5/5 (J.D. Power) |
Tips for Choosing the Right Insurance
Choosing the right insurance policy can be a complex process. Still, you can make a more informed decision by understanding your needs, diversifying your insurance portfolio, and building trust with your insurance provider. Here are some tips to help you choose the right insurance policy:
**Understand Your Needs**: The first step in choosing the right insurance policy is understanding your needs. This involves asking open-ended questions about your current situation and what you want from an insurance policy. Consider your health status, lifestyle, financial situation, and risk tolerance. If you have specific ongoing health needs, such as a chronic medical condition or plans for certain treatments, this information can help help you narrow down your options.
**Diversify Your Insurance Portfolio**: Diversification is a common strategy to reduce risk. In the context of insurance, this could mean having different insurance policies to cover various aspects of your life, such as health, home, auto, and life insurance. Diversification can help manage risk and reduce the impact of a single event on your financial stability.
**Build Trust with Your Insurance Provider**: Trust is a crucial factor in the insurance industry. Building a solid relationship with your insurance provider can help you receive the best service and coverage. This can be achieved through open and transparent communication, personalized service, and a thorough understanding of your insurance policies.
**Evaluate the Cost and Coverage**: When comparing insurance policies, consider both the cost and the coverage. Look at the premiums, deductibles, and out-of-pocket costs and compare these with the coverage provided. A policy with a low premium might seem attractive, but it could also mean higher out-of-pocket costs when you need care.
**Consider the Provider Network**: If you have preferred doctors or healthcare facilities, make sure they are in-network for the insurance plans you’re considering. A plan with a more extensive network may give you more choices and better odds of finding a local doctor who accepts your plan.
**Look for Value-Added Benefits**: Some insurance plans offer additional services like free health assessments, wellness programs, and virtual appointments. These can add value to your plan and enhance your healthcare experience.
**Research and Compare**: Use reputable sources of information to research and compare different insurance plans. Websites like Healthcare.gov, Medicare.gov, and Medicaid.gov can provide valuable information about various insurance options.
Remember, the goal is to find an insurance policy from a trustworthy provider that provides the coverage you need at a price you can afford. It’s important to read and understand the terms and conditions of any policy before purchasing.
Frequently Asked Questions (FAQs) related to American National Insurance
What types of insurance does American National offer?
American National Insurance offers a range of insurance products, including auto, home, life, health, and business insurance, as well as financial products like annuities.
How do I report a claim with American National?
You can report a claim by calling the appropriate phone number for your policy type or by logging in to your online account. For example, for homeowners and auto claims, call (800) 333-2860 or log in to report online.
What are the customer satisfaction ratings for American National?
American National has high customer satisfaction ratings, with a 4.5/5 rating from J.D. Power.
How do I contact American National for general inquiries?
You can contact American National through their website, by phone, or by visiting a local agent. For general inquiries, you can call (800) 899-6520.
What are the financial ratings for American National?
American National has strong financial ratings, including an "A" rating from AM Best, Fitch, and S&P Global, indicating excellent financial stability.
Can I purchase policies online with American National?
No, American National does not offer online quotes or policy purchases. You need to contact an agent for information and to purchase a policy.
What is the history of American National Insurance?
American National Insurance was founded in 1905 and is headquartered in Galveston, Texas. It operates in all 50 states and Puerto Rico.
How do I check the status of an existing claim?
You can check the status of an existing claim by emailing the appropriate claims department or by contacting your agent.
What types of life insurance policies does American National offer?
American National offers a variety of life insurance policies, including term, whole, universal, and indexed universal life insurance, with customizable riders and coverage limits.
How do I file a life insurance claim with American National?
You can file a life insurance claim by calling (800) 615-7372 or by completing the online claims form.
Blake Nwosu
Owner & Principal Agent
Blake Insurance Group
Phone: (888) 387-3687
Email: info@blakeinsurancegroup.com
Hours: Mon-Fri 9:00 am to 5:00 pm
Sat-Sun: Closed