Haris Ashley
Traditional insurance plans are the oldest plans, catering to individuals with a low-risk appetite. They are long-term contracts that offer multiple benefits, including risk cover, fixed income returns, safety, and tax benefits. Traditional health insurance plans help pay for a portion of healthcare costs, operating on a system of monthly premiums, copayments, and coinsurance. Traditional life insurance plans can be classified into two types: pure life protection and a mix of life insurance and investing. Pure life protection plans pay a death benefit to nominees in the event of the policyholder's demise during the policy period, while the latter type offers maturity benefits and a guaranteed return feature.
| Characteristics | Values |
|---|---|
| Name | American Traditions Insurance Company |
| Specialization | Residential property insurance |
| Location | Florida |
| Year of founding | 2005 |
| Parent company | Jerger Holding Corporation (JERGER) |
| BBB accreditation | Yes |
| BBB license number | E177437 |
| Number of locations | 2 |
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$19.13 $19.95
$62 $32
What You'll Learn
American Traditions Insurance Company's business profile
American Traditions Insurance Company (ATIC) is a property and casualty insurance company that was formed in 2005 by the Jerger Holding Corporation. The company is headquartered in Pinellas Park, Florida, and has two additional locations within the state. With a long history in the insurance industry, the Jerger family has always aimed to provide security and protection to its customers through professional insurance services.
American Traditions Insurance Company specializes in residential property insurance and offers a range of insurance services, including homeowner, condo, flood, equipment breakdown, and identity theft coverage. The company has a total of three employees across all its locations and generates $1.02 million in sales.
The company is committed to providing "old-fashioned service with a smile" and utilizes technology effectively to maintain low costs, giving it a competitive advantage in the industry. This efficient use of technology also attracts agents who value user-friendliness and quick entry.
American Traditions Insurance Company is a BBB Accredited Business, upholding the BBB Standards for Trust. While the company has received some complaints regarding billing and claim denials, it actively works to resolve these issues. The company has a license number of E177437, issued by the Department of Insurance.
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Manufactured housing coverage
Additionally, manufactured housing coverage can help cover increased living expenses if your home becomes uninhabitable due to a covered loss. For example, if a tree falls on your manufactured home, insurance can help pay for necessary repairs or replacement, as well as cover the cost of a hotel room while you wait for repairs to be completed. Some policies may also provide coverage for injuries on your property, known as guest-medical payments, which can help with medical expenses and legal fees if someone is injured on your property.
It is important to note that manufactured home insurance does not cover every type of loss. Typically, damage caused by floods, underground water, earthquakes, or mudslides is excluded from coverage. However, if your community participates in the National Flood Insurance Program (NFIP), you may be able to purchase separate flood insurance to protect against water damage.
When considering manufactured housing coverage, it is essential to review the policy carefully to understand what is and is not included. You may also have the option to add additional coverage for specific items or risks, such as identity theft protection and jewellery insurance. By working with a trusted insurance provider, you can customise a policy that meets your unique needs and budget.
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Homeowners and condo policies
American Traditions Insurance Company (ATIC) offers protection for your home, other structures, and belongings if they are destroyed in a disaster. This includes fire, hail, lightning, theft, and vandalism. Loss of use is also included in the policy, meaning temporary housing and expenses are covered while your home is being repaired or rebuilt.
Flood coverage is not included in the homeowners policy, but it is available for purchase through American Traditions/Modern USA. It is recommended that you review your homeowners' insurance policy and consider purchasing hurricane insurance, as hurricane season in Florida is between June 1 and November 30.
ATIC specialises in developing manufactured home products designed to suit any Florida lifestyle, including seasonal, primary, renters, and dwelling coverage. They also offer optional liability and medical coverage, protecting yourself and your guests in your rental home.
Condo insurance coverage helps protect the things not covered by your condo association's insurance policy, including personal property and personal liability coverage. This can help cover expenses if someone is injured on your property. Condo association policies typically only cover common areas and the exterior of the building, so it is recommended that you get your own condo insurance policy to protect any updates you've made to the interior.
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Florida's stressed property insurance market
Florida's property insurance market is currently in a state of flux, with rising premiums and a decrease in the number of insurers. This has led to a situation where many homeowners are opting out of property insurance altogether. This trend is particularly notable among those without mortgage lenders requiring them to hold insurance policies. Florida's unique geographical position, with its susceptibility to hurricanes and coastal flooding, has led to a situation where insurance companies are wary of providing cover to those in high-risk areas.
The state has seen an increase in roofing scams, slow claims handling, and high fees charged by affiliated insurance companies, which have further stressed the market. In addition, there is a disproportionate number of homeowner lawsuits in Florida compared to other states, with nearly three-quarters of all such lawsuits filed across the country in 2019 originating in the state. This has led to a crisis in the insurance market, with many companies leaving or revoking policies and raising premiums.
Citizens Property Insurance Corporation, a state-run initiative, has stepped in to provide insurance for those who cannot obtain it through traditional means. With 1.4 million accounts in the fall of 2023, it has become the largest holder of policies in the state. Despite this, there are concerns that the market is on the brink of collapse, with regulators reviewing hefty rate hikes. Lawmakers have been working to implement reforms to attract more private insurers and protect consumers. These include limiting policyholders' ability to take legal action against their insurers and launching a depopulation program for Citizens, moving customers back to the private market.
Looking ahead, there is optimism that the market will stabilize. Florida welcomed at least eight new private insurers in 2024, and more are expected to join in 2025. The state's Office of Insurance Regulation has touted policies aimed at strengthening the industry's financial position, and there is confidence that stability will continue in the coming year.
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American Traditions Insurance Company's customer reviews
American Traditions Insurance Company has received mixed reviews from its customers. While some have expressed satisfaction with the company's services, others have shared negative experiences, particularly regarding issues with customer service, claim handling, and policy cancellations.
One customer, a policyholder for almost four years, praised the company for their homeowners insurance but later cancelled their policy due to unsatisfactory customer service. They complained about non-responsiveness to emails and phone calls, even after multiple attempts to contact the company. This issue was echoed by another customer, who faced challenges reaching the company by phone and experienced delays in getting their calls returned.
There are also complaints about American Traditions Insurance Company's handling of claims. One customer shared their experience after the hurricane, highlighting their struggle to get a response from the company for seven weeks despite being provided with a dollar amount for their roof repairs. They were then informed that they could not use their chosen contractor, adding to their frustration. Another customer expressed their dissatisfaction with the company's response to their insurance claim, stating that they were offered only a "measly repair" by the company's random repairman after the 2024 hurricanes.
Policy cancellations have also been a point of contention among customers. One long-time customer was surprised to have their policy cancelled without prior notice, expressing dismay at the company's inconsistent responses and lack of communication. Another customer shared a similar experience, questioning the company's professionalism and stating that they did not receive a cancellation notice.
It is important to note that while these negative reviews highlight specific challenges and frustrations, there may be other customers who have had positive experiences with the company. The Better Business Bureau (BBB) provides a platform for customers to share their reviews and helps resolve disputes between businesses and consumers. American Traditions Insurance Company has been accredited by the BBB since 2012, and customers can refer to their profile to assess the company's ratings, reviews, and complaints before making an informed decision.
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Frequently asked questions
American Traditions Insurance Company is a Florida property and casualty insurance company specialising in residential property insurance. It was formed in 2005 by the Jerger Holding Corporation.
The Jerger family has been in the insurance business in Florida since 1946. The family formed the American Traditions Insurance Company in 2005, with the goal of providing security and protection to its customers through professional insurance services.
The company has a profile on the Better Business Bureau website, where its license number is listed as E177437. It also has a profile on Yelp, where reviews and contact information can be found.
