Paul Sanchez
American Family Insurance, also known as AmFam, is an American private mutual company that offers a wide range of insurance products and services. Founded in 1927 as Farmers Mutual Automobile Insurance Company, the company has grown and expanded its offerings over the years. AmFam provides various types of insurance, including auto, home, life, health, business, and specialty insurance options. The company also offers investment and retirement-planning services, as well as a rewards program for its customers. With a strong presence in multiple states and a history of community involvement, American Family Insurance has established itself as a prominent player in the insurance industry.
| Characteristics | Values |
|---|---|
| Type of company | Private mutual company |
| Focus | Property, casualty, and auto insurance |
| Other offerings | Commercial insurance, life, health, and homeowners coverage, investment and retirement-planning products |
| Revenue in 2017 | Over $9.5 billion |
| Founded | October 3, 1927 |
| Founded by | Insurance salesman Herman Wittwer |
| Headquarters | Madison, Wisconsin |
| Regional corporate headquarters | Minnetonka/Eden Prairie, Minnesota; Saint Joseph, Missouri; Denver, Colorado; and Columbus, Ohio |
| Discounts | Multiproduct, Auto Pay, Paperless, and DriveMyWay |
| Bundle discount | Customers who bundle home, auto, and life policies may save up to 43% on their home and auto policies |
| Companies of the American Family Insurance Group | American Family Brokerage, Inc. (AFBI), American Standard Insurance Company of Ohio (ASICO), Amfam.com, Inc. (AMFAM), HomeGauge, Moonrise, Inc., and Networked Insights |
Explore related products
Home insurance
American Family Insurance, also known as AmFam, offers customizable homeowners insurance to protect your home and belongings. The company was founded in 1927 as Farmers Mutual Automobile Insurance Company and has since expanded its product line to include various insurance products, including homeowners insurance.
AmFam's homeowners insurance provides coverage for damage to your home and attached structures caused by fire, windstorms, hail, lightning, theft, and vandalism. It also covers detached structures such as garages, gazebos, sheds, swimming pools, and fences. Personal property coverage helps replace or repair items like clothing, jewellery, appliances, furniture, and electronics if they are damaged or destroyed by a covered event.
Additionally, their policy includes Loss of Use Coverage, which helps pay for additional living expenses like hotel stays and food if your home becomes uninhabitable due to a covered event. AmFam also offers liability coverage, protecting you from liability claims and lawsuits if someone is accidentally injured on your property, up to your policy limit.
You can also add optional coverages to your policy for added protection, such as Hidden Water Damage coverage, which protects against leaks from plumbing, heating, A/C, fire sprinklers, or appliances. Another optional coverage is the Diminishing Deductible, which rewards responsible homeowners by crediting their deductible $100 each year, helping to control the cost of homeowners coverage.
AmFam provides affordable insurance options, and customers who bundle home, auto, and life policies can save up to 43% on their home and auto policies together, with discounts for Multiproduct, Auto Pay, Paperless, and DriveMyWay. You can get a free quote online or speak to one of their licensed agents to choose the perfect coverage for your needs.
VA Government Life Insurance: Taxable or Not?
You may want to see also
Explore related products
Auto insurance
American Family Insurance, also known as AmFam, is an American private mutual company that offers auto insurance, alongside other insurance products. Founded in 1927 as Farmers Mutual Automobile Insurance Company, the company initially focused on auto insurance for farmers, believing that they presented a lower risk than city drivers. Over time, the company expanded its offerings and changed its name to American Family Mutual Insurance Company in 1963 to reflect its broader customer base.
Today, American Family Insurance offers a range of auto insurance options, including personal and business car insurance. Their car insurance is customizable, allowing customers to add different coverages to their policy to suit their needs. For example, collision coverage protects against collision or rollover damages, regardless of fault, while comprehensive coverage protects against damages not caused by colliding with another vehicle or object, such as hail damage, fire, flooding, theft, vandalism, and collisions with animals.
The company also offers various discounts and incentives for its auto insurance policies. Customers who bundle their home, auto, and life policies can save up to 43% on their home and auto policies together. Other discounts include Multiproduct, Auto Pay, Paperless, and DriveMyWay. In addition, American Family Insurance has a DreamFearlessly campaign, which encourages consumers to express their dreams and provides rewards for completing various online tasks through their "Dreamkeep Rewards" program.
The company also provides a convenient mobile app, MyAmFam, which offers features such as roadside assistance, real-time payment status, easy access to account details, proof of insurance, and secure login with Touch ID or Face ID. The app also allows users to set up and manage payments, schedule payments, view their payment schedule, and manage their policy details, including viewing their auto insurance ID card.
Overall, American Family Insurance provides a comprehensive range of auto insurance options, customizable coverage, and convenient tools to help customers protect themselves and their vehicles.
Reliance Life Insurance: Is It Worth Your Money?
You may want to see also
Explore related products
Life insurance
American Family Insurance, also known as AmFam, offers a range of life insurance products to meet the diverse needs of its customers. The company understands that each individual and family has unique requirements, and thus provides various options, including term, universal, and whole life insurance.
Term life insurance from American Family Insurance offers flexibility and peace of mind. With term lengths of 10, 15, 20, or 30 years, policyholders can choose a period that suits their specific needs. Additionally, the DreamSecure Term Life Insurance plan allows for renewals at increased rates after the initial term, ensuring continued coverage up to the policy anniversary on or after the insured's 95th birthday. This type of insurance is ideal for those seeking lower premiums and the ability to protect their family's financial future up to a certain milestone.
Whole life insurance, on the other hand, provides lifelong coverage with fixed premiums. The DreamSecure Whole Life Insurance plan guarantees permanent coverage with level premiums until the age of 100. This plan ensures that your loved ones are financially protected, regardless of age or health changes. Furthermore, the DreamSecure 15 Pay Whole Life Insurance plan offers full payment after 15 years, followed by lifelong coverage. These whole life insurance options are designed to be affordable and provide financial security for your family.
American Family Life Insurance Company also offers flexible life insurance, which adapts to the changing circumstances of your life. This policy builds cash value and can be customized to fit your unique needs. The company encourages individuals to work directly with their agents to determine the best coverage options and take advantage of potential discounts.
In addition to these core offerings, American Family Insurance provides optional riders for enhanced protection. The Children's Insurance Benefit Rider offers $15,000 of term life coverage for eligible children, ensuring that families can provide financial security for their loved ones at a fixed cost. Another notable rider is the Premium Waiver Benefit, which waives premiums in the event of total disability, providing an additional layer of financial relief during challenging times.
Life Insurance Payouts: Taxable or Not?
You may want to see also
Explore related products
Health insurance
American Family Insurance, also known as AmFam, is an American private mutual company that provides a range of insurance products, including health insurance. The company was founded in 1927 as Farmers Mutual Automobile Insurance Company, targeting farmers with auto insurance. Over the years, it expanded its offerings to meet the diverse needs of its growing customer base.
American Family Insurance health plans typically cover essential health benefits, including hospitalisation, emergency care, preventive care, prescription drug coverage, and mental health services. Policyholders can choose from a range of plan options, allowing them to select the level of coverage that best suits their specific needs and budget. The company also offers flexibility in choosing healthcare providers, ensuring that customers can seek care from their preferred doctors and specialists within their network.
In addition to standard health insurance coverage, American Family Insurance also provides supplemental health insurance options. These plans offer additional benefits that may not be covered by basic health insurance, such as dental, vision, and hearing care. Policyholders can customise their coverage by adding these supplemental plans to fill any gaps in their existing policies, ensuring that all aspects of their health and well-being are adequately protected.
American Family Insurance is committed to making its health insurance products accessible and affordable. They offer various discounts and incentives to help reduce the cost of coverage. For example, customers who bundle their home, auto, and life policies together can save up to 43% on their home and auto policies. The company also provides online tools and resources to help customers understand their coverage options, manage their policies, and make informed decisions about their health insurance choices.
Life Insurance Dividends: Taxable Interest Earnings?
You may want to see also
Explore related products
Commercial insurance
American Family Insurance, also known as AmFam, is an American private mutual company that provides various insurance products, including commercial insurance. The company has a long history dating back to 1927 when it was founded as Farmers Mutual Automobile Insurance Company in Madison, Wisconsin. Over the years, it has expanded its offerings and presence, becoming a Fortune 500 company with revenues exceeding $9.5 billion in 2017.
- Business Liability Insurance: This protects businesses from financial losses associated with liability claims, including bodily injury, property damage, and legal fees. AmFam offers both business liability key policy and business policy package insurance, providing comprehensive coverage for businesses.
- Property Insurance: AmFam offers insurance for commercial properties, covering damage or loss due to fire, theft, or natural disasters. This can include insurance for buildings, equipment, and inventory.
- Commercial Auto Insurance: AmFam provides insurance for business vehicles, including cars, trucks, and vans. This insurance covers vehicles used for business purposes and can include coverage for liability, collision, and comprehensive claims.
- Business Interruption Insurance: This type of insurance covers financial losses incurred during a temporary shutdown or interruption of business operations due to a covered event, such as a fire or natural disaster. It helps businesses stay afloat during challenging times.
- Workers' Compensation Insurance: AmFam offers workers' compensation insurance, which covers medical expenses and lost wages for employees who suffer work-related injuries or illnesses. This insurance is crucial for businesses to provide financial support to their employees during difficult times.
American Family Insurance offers customised quotes for commercial insurance, tailoring the coverage to the specific needs of each business. The company also provides a range of discounts and rewards for its policyholders, such as the "Dreamkeep Rewards" program, which offers incentives for completing online tasks. With a focus on protecting the dreams of business owners, AmFam's commercial insurance provides a safety net, allowing entrepreneurs to focus on their ventures with peace of mind.
Vaping's Impact: Life Insurance and Your Health
You may want to see also
Frequently asked questions
American Family Insurance, abbreviated as AmFam, is an American private mutual company that offers property, casualty, auto, commercial, life, health, and homeowners insurance. It also provides investment and retirement-planning products.
American Family Insurance, originally Farmers Mutual Insurance Company, was founded on October 3, 1927, by insurance salesman Herman Wittwer in Madison, Wisconsin.
American Family Insurance offers a wide range of insurance products, including term, universal, and whole life insurance; auto insurance; personal umbrella insurance; home insurance; and insurance for motorcycles, boats, motor homes, and snowmobiles. They also provide business insurance, farm and ranch liability insurance, and travel insurance, including trip cancellation and global medical coverage.
The company is based in Madison, Wisconsin, and has four regional corporate headquarters in Minnetonka/Eden Prairie, Minnesota; Saint Joseph, Missouri; Denver, Colorado; and Columbus, Ohio.
Yes, American Family Insurance offers various discounts for bundling policies and through options like Multiproduct, Auto Pay, Paperless, and DriveMyWay. The discounts may vary based on state, property, policy form, and company underwriting the policy.
