American Bankers Property Insurance Review: What to Know (2024)

With increasingly more people telecommuting these days, you must have a good home or renters insurance policy to protect yourself and your belongings from disaster.

Although there are numerous home insurance companies on the market, how can consumers find the best insurance products for their needs? Thankfully, you can make use of free online resources like this American Bankers Insurance Company review to find the best insurance company for your needs.

Keep reading to learn more about American Bankers, the coverages this company offers, and how much you might pay for your homeowners insurance policy.

What is American Bankers Insurance?

Founded in 1947, American Bankers Insurance is based in Miami, Florida, and is a subsidiary of the American Bankers Insurance Group.

This company provides renters insurance and a wide range of additional products throughout the United States. It is important to note that American Bankers uses the name Assurant for branding and marketing purposes.
This relationship indicates that you will be directed to the Assurant website whenever you look up American Bankers insurance products.

You can manage your policy documents and make payments on the Assurant website. In addition, if you have questions about this company or concerns about your policy, you can use the company’s office locator tool to find the phone number for your local representative or use Assurant’s virtual chat option to contact a company representative.

However, it is important to note that the company’s web presence is anything but streamlined. For example, clients will have to find a separate Assurant renters insurance website to manage their policy or file a claim. This complicated process could deter consumers who would prefer to find everything they need in one place.

Does American Bankers Insurance have good ratings?

Thankfully, you can find ratings for American Bankers Insurance from the Better Business Bureau (BBB) and A.M. Best under the Assurant name.

Consumers who appreciate good customer service will be pleased to learn that American Bankers has an A+ rating from the BBB and has earned nearly 4/5 stars out of 1,175 customer reviews.

You can also trust that American Bankers has the financial strength to pay out any claims that you may file, as it has earned an A rating from A.M. Best.

Below, you can compare these ratings to those of other major insurance companies:

You should always ensure that you work with a reputable insurance company, whether you live in Pennsylvania, Chicago, or anywhere else. And free insurance reviews like this one can help you find the best company for your needs.

What coverage does American Bankers Insurance provide?

If you’re seeking to protect your home and your belongings, American Bankers provides these insurance products in every state but Minnesota and Georgia:

• Manufactured home insurance
• Renters insurance

Now, regardless of whether you love jet-setting at a moment’s notice or if you’re a homebody who only vacations once a year, an important thing to do before you travel is to ensure that you have the coverages you need to protect your home and the items within it.

Unfortunately, the main Assurant website doesn’t share many details about the coverages provided by these policies, and this is where purchasing an Assurant policy can become challenging. The Assurant website isn’t very user-friendly, and if you would like to acquire a renters policy through this company, you’ll need to seek a product-specific website. Even for the most tech-savvy consumers, this setup is convoluted and confusing.

Does American Bankers Insurance offer competitive rates?

You’ll need to request a quote to discover how American Banker rates compare to other companies because sample rates aren’t shared on the company’s website. You can, however, use this chart to discover the average rate of home insurance in your state:

As you can see, rates vary quite a bit from one state to the next, partly due to location, but other factors play a role in your rate calculation. For example, when you shop online for insurance, you must be prepared to share your full name, your occupation, and your home’s construction style.

Is it easy to file a claim with American Bankers Insurance?

Filing a claim for your American Bankers policy is not as simple as it could be with other companies. This company has no mobile app, so you can’t upload photos and documents straight from your phone. Even worse, you will need to locate the member login, not on the main Assurant website but on another site — myassurantpolicy.com.

While this link is presented on the renter’s insurance website, it appears that you can file a claim for any policy you have through myassurantpolicy.com.

Now, you do have the option to call the claims department’s 24-hour line, but as this phone number was listed on the renters insurance site, it may only be available to individuals who need to file a renters insurance claim.

American Bankers Property Insurance: The Bottom Line

While American Bankers has a long history of writing insurance, its complicated and rather uninformative website could send most consumers seeking insurance from other companies. Not only is finding information regarding specific coverages on the main website difficult, but you will need to file a claim on an entirely different website.

Shopping for home or renters insurance doesn’t have to be this complicated. If you need protection for your home, you can shop online to easily find insurance companies that offer user-friendly websites and the coverage you need.