Jeffrey Wade
American Family Insurance, also known as AmFam, is an American private mutual company that offers property, casualty, auto, commercial, life, health, and homeowners insurance, as well as investment and retirement-planning products. The company is based in Madison, Wisconsin and operates in at least 17 states across the US, including Illinois, Ohio, Georgia, Utah, Idaho, Washington State, and Minnesota. While American Family Insurance primarily serves customers within the United States, they also provide global medical insurance and travel insurance, which may be relevant for customers travelling internationally. Additionally, the company has partnerships with Costco, providing insurance options for Costco members, and Homesite, which offers home insurance.
| 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 | Over $9.5 billion in 2017 |
| Founded | October 3, 1927 |
| Headquarters | Madison, Wisconsin |
| Regional Corporate Headquarters | Minnetonka/Eden Prairie, Minnesota; Saint Joseph, Missouri; Denver, Colorado; and Columbus, Ohio |
| Acquisitions | The General Insurance, Homesite Insurance, HomeGauge, Networked Insights, Main Street America Insurance, Ameriprise Auto & Home |
| Sponsorships | Inaugural jersey sponsor of the 2017 MLS expansion team Atlanta United FC, naming rights sponsor of the stadium of the Milwaukee Brewers, American Family Field |
| Awards | National Safety Council's Teen Driving Safety Leadership Award |
| Insurance Types | Term, universal, and whole life insurance; personal and business auto insurance; personal umbrella insurance; home insurance; motorcycle, boat, motor home, snowmobile, and car insurance; business liability key policy and business policy package insurance; farm and ranch liability insurance; travel, trip cancellation, and global medical insurance |
| Services | Umbrella policy, trip cancellation insurance, protection against financial losses due to canceled flights, illness, or other issues |
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What You'll Learn
American Family Insurance is available in 19 US states
American Family Insurance, also known as AmFam, is an American private mutual company that offers insurance policies to its customers. It was founded in 1927 by insurance salesman Herman Wittwer, who initially targeted farmers as his primary market. Over the years, the company expanded its market and product line to include a range of insurance products, including property, casualty, auto, commercial, life, health, and homeowners insurance, as well as investment and retirement-planning services.
The company is based in Madison, Wisconsin, and has experienced significant growth since its establishment. As of 2024, American Family Insurance is available in 19 US states, including Illinois, Ohio, and Georgia. The company has four regional corporate headquarters located in Minnetonka/Eden Prairie, Minnesota; Saint Joseph, Missouri; Denver, Colorado; and Columbus, Ohio.
American Family Insurance has a strong presence in the car insurance market, with competitive rates for minimum-coverage policies. The cost of auto insurance with American Family Insurance varies depending on factors such as a driver's history, age, state, and coverage limits. The company also offers a range of other insurance products, such as home insurance, life insurance, and business insurance.
In addition to its insurance services, American Family Insurance has demonstrated a commitment to social initiatives. In 2017, the company launched the DreamFearlessly campaign, which promoted social justice, the advancement of women in technology, and economic empowerment. American Family Insurance also has an ambassador program with notable figures from sports, entertainment, and business, reflecting its commitment to inspiring and supporting its customers and the community.
American Family Insurance's expansion across 19 US states and its diverse range of insurance products and initiatives reflect its growth and customer-centric approach. The company continues to be a significant player in the insurance industry, providing coverage and support to individuals and businesses across the country.
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The company is headquartered in Madison, Wisconsin
The American Family Insurance Group is headquartered in Madison, Wisconsin. The company was founded in the city on October 3, 1927, by insurance salesman Herman Wittwer, who opened Farmers Mutual Insurance Company. Wittwer's initial focus was on auto insurance for farmers, who he believed presented a lower risk than city drivers because they drove less and not at all in winter. Over the years, the company expanded its market and product line, introducing sickness and accident insurance in 1957, homeowners insurance in 1958, and more.
In 1963, the company changed its name to American Family Mutual Insurance Company to reflect its broadening customer base. As of 2011, American Family Insurance had four regional corporate headquarters in Minnetonka/Eden Prairie, Minnesota; Saint Joseph, Missouri; Denver, Colorado; and Columbus, Ohio.
In 2017, American Family Insurance installed Wisconsin's largest rooftop solar installation to date, with nearly 4,500 panels on its National Headquarters building in Madison. That year, the company ranked 315 on the Fortune 500 list, with revenues of $8.8 billion. American Family Insurance has come a long way since its early days, now offering a diverse range of insurance products and services to customers across the United States.
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American Family Insurance was founded in 1927
American Family Insurance, also known as AmFam, was founded on 3 October 1927 by insurance salesman Herman Wittwer. The company was originally named Farmers Mutual Insurance Company (not to be confused with the Farmers Insurance Group) and was based in Madison, Wisconsin. At the time, Farmers Mutual offered auto insurance targeted at farmers, based on the idea that farmers presented lower risks than city drivers because they drove less often and not at all in winter.
Over the following years, Farmers Mutual expanded its market and product line to meet the changing needs of its customers. In the 1930s, the company established the National Mutual Casualty Company to protect non-farmers. In 1938, both premiums and assets surpassed $1 million. In 1957, Farmers Mutual introduced sickness and accident insurance, followed by homeowners insurance in 1958. That same year, the company opened the American Family Life Insurance Company, which expanded to ten states within a year. In 1959, Farmers Mutual entered the computer age with the RAMAC 305.
In 1963, Farmers Mutual changed its name to American Family Mutual Insurance Company to reflect its broader customer base. That year, policyholders gave final approval for the name change. In 1975, American Family introduced Commercial Lines and became the fifth-largest mutual auto insurer. In 1981, the company's assets surpassed $1 billion, and it became the fourth-largest mutual auto insurance company. In 1985, American Family established American Family Brokerage, Inc. to serve policyholders by finding insurers to cover hard-to-place risks. In 1987, the company developed a centralized CAT program to help customers affected by catastrophic storms and disasters.
In 1994, American Family rolled out its catastrophe trailer and ranked as the 11th-largest property/casualty insurer. The following year, the company settled a redlining lawsuit, resulting in a $16 million payout to victims. The settlement was negotiated by the US Department of Justice and marked the first use of the federal Fair Housing Act of 1968 to counter insurance discrimination. In 1996, American Family first appeared on the Fortune 500 list at number 403. By 1997, the company had become the 10th-largest property/casualty insurer in the nation, with assets surpassing $8 billion. In 2001, American Family Securities, LLC introduced variable products, and the company expanded into Utah and Idaho, bringing its total presence to 17 states across the US.
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It offers a range of insurance products, including auto, home, and life insurance
American Family Insurance, also known as AmFam, is an American private mutual company that offers a wide range of insurance products to its customers. While the company is based in Madison, Wisconsin, it has expanded over the years and now serves customers in multiple states across the country.
The company was founded in 1927 by insurance salesman Herman Wittwer as an auto insurance provider for farmers in Wisconsin. Over the years, American Family Insurance expanded its offerings to include a diverse range of insurance products. Today, the company provides various insurance options, including auto, home, and life insurance, catering to the diverse needs of its customers.
Under the auto insurance category, American Family Insurance covers a range of vehicles, including cars, motorcycles, recreational vehicles (RVs), boats, all-terrain vehicles (ATVs), snowmobiles, and classic cars. The company also offers personal and business auto insurance policies, providing comprehensive coverage for individuals and businesses.
In addition to auto insurance, American Family Insurance offers home insurance, protecting customers' homes and properties. This includes coverage for renters, condos, manufactured homes, and farm and ranch insurance. The company also provides personal umbrella insurance, offering additional liability coverage beyond standard policies.
Life insurance is another important product offered by American Family Insurance. The company provides term, universal, and whole life insurance options, ensuring financial protection for loved ones. Additionally, they offer health insurance, investment, and retirement-planning products, demonstrating their commitment to supporting customers throughout their lives.
American Family Insurance's range of insurance products reflects its adaptability and commitment to meeting the evolving needs of its customers. By offering diverse insurance options, the company provides peace of mind and security to individuals and families across the United States.
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The company also provides investment and retirement-planning services
American Family Insurance, also known as AmFam, is an American private mutual company that offers investment and retirement-planning services in addition to its insurance products. The company is based in Madison, Wisconsin, and provides services in 17 to 19 states across the U.S., including Illinois, Ohio, Georgia, Utah, Idaho, Washington, and more.
American Family Solutions, affiliated with the company, helps individuals create retirement strategies using a variety of investment and insurance products. They focus on three key pillars of retirement planning: Retirement Savings and Income Strategy, Life Insurance, Legacy, and Tax Planning, and Health Insurance and Medicare Options. They also offer legal counsel for wills, trusts, and estate planning.
The company also provides a Cash Balance Employee Pension Plan for its staff. This plan is available to all American Family employees aged 21 or older after one year of service. It is fully vested and available for withdrawal upon retirement or after three years of service. Additionally, the company matches 401ks towards retirement.
American Family Insurance has expanded its product line over the years to meet the changing needs of its customers. It now offers a range of insurance products, including term, universal, and whole life insurance; auto insurance; home insurance; and various other types of coverage.
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Frequently asked questions
American Family Insurance is available in 19 states across the U.S. including Illinois, Ohio, Georgia, Utah, Idaho, Washington State, and Wisconsin, where it is headquartered.
American Family Insurance offers auto insurance, home insurance, life insurance, health insurance, commercial insurance, and homeowners insurance. They also offer investment and retirement-planning products.
American Family Insurance was founded on October 3, 1927, by insurance salesman Herman Wittwer. At the time, the company's product was auto insurance targeted at farmers. Over the years, the company expanded its market and product line, introducing homeowners insurance and life insurance in 1958 and changing its name to American Family Mutual Insurance Company in 1963.
