American Family Car Insurance Review
American Family Insurance is an insurance company whose mission is to be the most valued and trusted service-driven company. American Family sells car insurance along with a number of other insurance products. The company has been around for over 80 years and strives to provide convenient service with ease.
American Family has agents in 19 states to help you with your car and other vehicle insurance needs. The agents’ goals are to be caring, helpful, and fair while building a relationship with you that is long-term. As the name of the company states, they want to be a part of your family.
History of American Family Insurance
American Family started as rural Wisconsin in 1927. The sole founder, Herman Wittwer, offered car insurance to farmers because they were less risky than drivers who lived in the city.
The company continued to expand from rural regions to cities and it continually added additional services and products to fit the needs of its clients. The name was changed to American Family Mutual Insurance Company in 1963. American Family is focused on providing value to their customers, as they are also owners of the company.
American Family Car Insurance Coverage
American Family Insurance offers a number of car insurance options (throughout 19 states) depending on your needs and wants. Each state is different as to what type of coverage is required and the minimum amount for each. When you go to American Family’s website, you are able to click on your state and find out what you need for a minimum policy.
The different types of car insurance offered include liability, medical expense, collision, comprehensive, underinsured motorist, uninsured motorist, and uninsured motorist property damage. American Family offers a number of additional options you may choose to add. These are emergency road service, car rental reimbursement, car loan protection, and accidental death and dismemberment.
American Family can help you insure other vehicles besides your car. If you have a motor home, motorcycle, snowmobile, boat, or and ATV you can get them insured with American Family as well.
American Family Insurance Ratings
One way to determine the quality of a company is to look at its financial ratings as well as any other ratings or awards it has received. American Family has consistently received strong ratings and positive customer feedback.
J. D. Power and Associates is a company that collects and tallies surveys regarding customer feedback for a variety of industries. In their Distinguished Insurance Program, a number of American Family Insurance agencies have received the award for offering an Outstanding Customer Experience, and these agencies receive it year after year.
As far as financial ratings are concerned, as of May 2011, A. M. Best gave American Family an A, or excellent, rating for their financial strength. Their investment grade is A (excellent) as well. The company’s outlook however is listed as negative, which means that the rating could go down because of unfavorable market and financial trends.
American Family Insurance Market Share
Compared to other car insurance companies around the country, American Family is considered a smaller company. It insures a smaller percentage of the country when compared to the bigger car insurance providers. In 2009, the National market share of American Family was 2.0% and in 2010, it dropped slightly to 1.9%, which placed it as the number ten car insurance company in terms of size.
When you look at the regional market share of American Family Insurance, the percentage increases quite a bit. In Wisconsin, where American Family is headquartered, it insures 21.3% of the market, which makes it the most popular car insurer in the state.
Advertising the American Family Insurance Brand
American Family Insurance has used a variety of advertisements to help deliver its message to its potential customers. Throughout all of them is the familiar jingle that most people will recognize.
Back in 2008, American Family had a series of advertisements that were based off three different TV shows about American families. They included the Brady Bunch, Green Acres, and The Munsters.
The current advertisement platform is based off the American Dream theme. With the economy in a downturn, American Family Insurance is asking and answering the question if the American Dream is still a reality. The premise of its message is to inspire people to follow their dreams and life goals, no matter what the economy is. Insuring these goals is where American Family comes in.
The American Dream advertisements can be found on the web, in print ads, and on billboards throughout the country. The ads are meant to challenge the current thinking about the economy. The current slogan for these ads is “Your dream is out there. Go get it. We’ll protect it.”