American Modern Insurance: Admitted Carrier Status

American Modern Insurance Group, Inc. is a widely recognised national leader in the specialty insurance business. The company offers a range of insurance products, including mobile home insurance, vacation home insurance, collector car insurance, motorcycle insurance, and more. American Modern Insurance Group operates under the American Modern insurance brand and serves as the holding company for several subsidiary property and casualty insurance companies. They have been in business since 1965 and are known for providing specialty products for owners of specialty dwellings such as mobile homes and recreational vehicles. American Modern Insurance Group is licensed to do business in all states and has received an A+ (Superior) rating from industry analyst A.M. Best Company.

American Modern Insurance Group's subsidiaries

American Modern Insurance Group, Inc. is the holding company for several subsidiary property and casualty insurance companies. These subsidiaries provide specialty insurance products for owners of a range of specialty dwellings and vehicles, as well as pet insurance.

The company's subsidiaries include:

• American Modern Home Insurance Company: The flagship company, operating in almost all states for all targeted lines of specialty business. In California, it does business as American Modern Insurance Company.
• American Family Home Insurance Company: Does business as AFH Insurance Company in California.
• American Southern Home Insurance Company
• American Modern Lloyds Insurance Company
• American Modern Select Insurance Company
• American Western Home Insurance Company: This subsidiary primarily writes non-admitted commercial business.
• American Modern Insurance Company of Florida, Inc.: This subsidiary is used only in Florida for certain personal lines programs.
• American Modern Surplus Lines Insurance Company: This subsidiary is used in multiple states for non-admitted business.
• American Modern Property and Casualty Insurance Company

American Modern's specialty insurance

American Modern Insurance Group, Inc. is a holding company for several subsidiary property and casualty insurance companies that provide specialty products for owners of a variety of specialty dwellings and vehicles. The company has been offering specialty insurance since 1965 and is licensed to do business in all states.

American Modern provides insurance for specialty dwellings such as seasonal homes, rental properties, vacation homes, vacant properties, and mobile homes. They also offer insurance for recreational vehicles, including motorcycles, boats, watercraft, snowmobiles, and collector cars. Additionally, they provide pet insurance and commercial insurance for landlords, dealers, and communities within the manufactured housing market.

The company's insurance products are designed to meet the unique needs of their customers, and they are known for writing policies that many other carriers do not. American Modern has a strong reputation in the industry, with an AM Best A+ rating and multiple awards for outstanding customer service.

American Modern's parent company is Munich Re, one of the 100 largest companies in the world in terms of annual revenue. Munich Re operates in more than 40 countries and is a significant player in the US insurance market.

American Modern's subsidiary companies include:

• American Modern Home Insurance Company
• American Family Home Insurance Company
• American Southern Home Insurance Company
• American Modern Lloyds Insurance Company
• American Modern Select Insurance Company
• American Western Home Insurance Company
• American Modern Insurance Company of Florida, Inc.
• American Modern Surplus Lines Insurance Company
• American Modern Property and Casualty Insurance Company

American Modern's financial condition

American Modern Insurance Group, Inc. is a holding company for several subsidiary property and casualty insurance companies. It is owned by Munich Re, a global insurance company based in Germany and the world's largest reinsurer. American Modern is headquartered in Amelia, Ohio, and has a premium volume of $1.9 billion.

The company was founded in 1965 in Cincinnati, Ohio, and its roots go back to 1938 when The Midland Discount Corporation was founded as an automobile financing company. Over time, American Modern expanded its product offerings to include insurance for a variety of specialty dwellings and recreational vehicles. Today, it offers a range of insurance products, including mobile home insurance, vacation home insurance, collector car insurance, motorcycle insurance, snowmobile insurance, pet health insurance, and more.

American Modern has been recognised for its strong financial condition and has received an A+ (Superior) rating from A.M. Best. It has also been selected as one of the Top 50 property and casualty insurance companies in the United States by the Ward Financial Group for 13 consecutive years.

The company's average rates for home insurance are slightly above the national average, with an annual premium of $1,560 for $250,000 in dwelling coverage, compared to a national average of $1,687. However, American Modern specialises in covering homes that might have difficulty getting adequate coverage elsewhere, such as those that don't meet standard home insurance requirements or are considered higher-risk.

American Modern's history

American Modern Insurance Group, Inc. is a specialty insurance company that operates under the American Modern insurance brand. The company's roots can be traced back to 1938 when The Midland Discount Corporation was founded in Cincinnati, Ohio, as an automobile financing company. In 1949, Midland identified the emerging mobile home industry and became one of the first companies to specialize in mobile home finance.

In February 1961, Midland made its initial public offering of stock to finance its expansion, and in 1965, it entered the manufactured home insurance market with the establishment of American Modern Home Insurance Company and American Family Home Insurance Company. These two companies remain the primary subsidiaries of American Modern Insurance Group.

Over the years, American Modern Insurance Group has diversified its product offerings beyond manufactured homes. In 1990, they expanded into watercraft insurance, followed by collector vehicle insurance a few years later. In 2000, the company acquired GuideOne Motorsport's book of business, allowing them to enter the motorcycle, ATV, and snowmobile markets.

In the first decade of the 21st century, American Modern continued to expand its product offerings to meet the diverse needs of the site-built home market, including vacant, seasonal, and rental homes. They also enhanced their portfolio of single and dual-interest products, such as credit life and disability insurance, which were marketed through their Financial Institutions Division.

Today, American Modern Insurance Group is a widely recognized national leader in the specialty insurance business, offering residential insurance for various property classes and recreational insurance for owners of boats, yachts, personal watercraft, and classic cars. The company's financial strength and superior service have been recognized by industry analysts, and they continue to innovate and diversify their product offerings to meet the evolving needs of their customers.

American Modern's products

American Modern Insurance Group, Inc. is a holding company for several subsidiary property and casualty insurance companies that provide specialty products for owners of a variety of specialty dwellings and vehicles.

Specialty Dwellings

American Modern Insurance provides insurance for mobile homes, vacation homes, and seasonal homes. They also offer rental property insurance, vacant property insurance, and condominium insurance. Their programs are inclusive and welcome homes that other carriers may not accept due to location, value, condition, or past claims.

Vehicles

American Modern Insurance offers insurance for motorcycles, electric motorcycles, scooters, snowmobiles, watercraft, and collector cars. They also insure All-Terrain Vehicles (ATVs), Utility Vehicles (UTVs), and golf carts.

Other Products

In addition to the above, American Modern Insurance also provides pet insurance, landlord insurance, and various products to protect lender interests, including mortgage fire insurance, debt cancellation coverage, and renters insurance.

Frequently asked questions