American Equity Insurance Company Review (2024)
American Equity Insurance Company, with its robust A.M. Best rating, offers a diverse range of coverage options, spanning life, health, home, auto, and business insurance, making it a reliable choice for comprehensive protection and competitive rates.
Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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American Equity Insurance Company
Average Monthly Rate For Good Drivers
$100A.M. Best Rating:
A (Excellent)Complaint Level:
LowPros
- Comprehensive range of insurance policies
- Strong financial stability and A.M. Best rating
- Competitive average annual rates
- High customer satisfaction and low complaint level
- Bundling options for multi-policy discounts
Cons
- Limited availability in some regions
- May not offer specialized or niche insurance products
- Discounts may vary based on location and policy types
American Equity Insurance Company stands as a versatile and reliable insurance provider, offering a comprehensive array of coverage options that cater to the diverse needs of individuals, families, and businesses. With a strong A.M. Best rating and competitive average annual rates, American Equity provides an impressive lineup of insurance solutions.
From life and health insurance to home, auto, and business coverage, the company’s offerings encompass whole life, term life, universal life, and variable life insurance, alongside medical expense, dental, vision, and critical illness coverage.
Dwelling, personal property, liability, and auto coverage options ensure holistic protection, while general liability, commercial property, business interruption, and professional liability insurance cater to businesses.
With an emphasis on customer satisfaction and discounts for responsible behavior, American Equity Insurance Company stands as a steadfast partner in safeguarding the present and securing the future.
American Equity Insurance Company Insurance Coverage Options
American Equity Insurance Company provides a comprehensive array of coverage options tailored to meet a variety of insurance needs:
- Life insurance coverage: American Equity offers diverse life insurance options, including Whole Life for lifelong coverage with cash value, Term Life for specific periods, Universal Life with flexible payments and cash value adjustments, and Variable Life combining death benefit with investments.
- Health insurance coverage: American Equity’s health options include Medical Expense, HSAs for tax-advantaged medical savings, Dental and Vision for oral and visual health, and Critical Illness for lump sum payments during critical illnesses.
- Home insurance coverage: Homeowners benefit from Dwelling, Personal Property, and Liability coverage. Additional Living Expenses help during uninhabitability, while Home Insurance Discounts offer cost savings.
- Auto insurance coverage: Auto policies include Liability, Collision, Comprehensive, Personal Injury Protection, and Uninsured/Underinsured Motorist Protection. Discounts lower premiums.
- Business insurance coverage: Business coverage includes General Liability, Commercial Property, Business Interruption, and Professional Liability (E&O) insurance for legal, asset, disruption, and error protection.
These extensive coverage options ensure that American Equity Insurance Company caters to a wide range of insurance needs, providing individuals, families, and businesses with the protection necessary to mitigate risks and ensure financial security.
Read more: American Equity Investment Life Insurance Company Review
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American Equity Insurance Company Insurance Rates Breakdown
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| Driver Profile | American Equity Insurance Company | National Average |
|---|---|---|
| Clean Record | $160 | $119 |
| 1+ Ticket | $190 | $147 |
| 1+ Accident | $220 | $173 |
| DUI | $255 | $209 |
| Poor Credit | $275 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
American Equity Insurance Company Discounts Available
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| Discount | American Equity Insurance Company |
|---|---|
| Anti Theft | 20% |
| Good Student | 22% |
| Low Mileage | 25% |
| Paperless | 10% |
| Safe Driver | 25% |
| Senior Driver | 15% |
American Equity Insurance Company provides a range of discounts to help customers save on their insurance premiums. These discounts are designed to reward responsible behavior and encourage customers to bundle multiple policies for added savings. Here are the key discounts offered by the company:
- Multi-policy discount: Customers can enjoy substantial savings by bundling multiple insurance policies, such as combining home and auto insurance.
- Safe driver discount: Drivers with a clean driving record and a history of responsible driving habits are eligible for this discount.
- Good student discount: Students who maintain good grades may qualify for a discount, encouraging academic achievement while saving on insurance costs.
- Safe vehicle discount: Customers who drive vehicles equipped with safety features and technologies may be eligible for this discount.
- Loyalty discount: American Equity rewards loyal customers by providing discounts to those who continue to renew their policies with the company.
- New customer discount: New customers who switch to American Equity can take advantage of a special discount for choosing their services.
- Pay-in-full discount: Customers who choose to pay their insurance premiums in full upfront may be eligible for a discount.
- Home security and safety discounts: Homeowners who have security systems, smoke detectors, fire alarms, and other safety measures in place can receive discounts on their home insurance.
- Defensive driving discount: Completing a defensive driving course can lead to a discount for policyholders.
- Affinity group discount: Members of certain groups or organizations may be eligible for exclusive discounts through affinity partnerships.
These discounts not only provide financial benefits but also encourage positive behavior and responsible choices, making insurance coverage more accessible and affordable for customers of American Equity Insurance Company.
How American Equity Insurance Company Ranks Among Providers
American Equity Insurance Company operates in a competitive landscape within the insurance industry. Several notable companies compete in the same space, offering similar types of coverage and services to customers. Here are some of American Equity’s main competitors:
- State Farm: One of the largest insurance providers in the United States, State Farm offers a wide range of insurance products, including auto, home, life, and health insurance. Known for its extensive network of agents and strong customer service, State Farm is a major player in the industry.
- Allstate: Allstate is another well-established insurance company that provides various insurance options, including auto, home, renters, and life insurance. It’s known for its innovative coverage options and personalized digital tools.
- Geico: Geico is renowned for its competitive pricing and humorous advertising campaigns. Specializing in auto insurance, Geico has a strong online presence and a user-friendly website that allows customers to get quotes and manage policies conveniently.
- Progressive: Progressive is known for its focus on auto insurance and its innovative approach to pricing, using usage-based telematics programs. The company offers a wide range of discounts and customizable coverage options.
- Liberty Mutual: Liberty Mutual offers diverse insurance products, including auto, home, renters, and life insurance. It emphasizes personalized coverage and offers a variety of discounts to policyholders.
- Nationwide: Nationwide provides various insurance solutions, from auto and home to life and pet insurance. The company emphasizes its commitment to protecting what matters most to its customers.
- Farmers Insurance: Farmers Insurance offers a variety of insurance products, including auto, home, and business coverage. It’s known for its comprehensive range of options and dedicated agents.
These competitors, among others, contribute to a dynamic marketplace where customers have a range of choices for their insurance needs. Each company brings its unique strengths and strategies to attract and retain customers in an ever-evolving industry.
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American Equity Insurance Company Claims Process
Ease of Filing a Claim
American Equity Insurance Company understands the importance of a hassle-free claims process. They offer multiple convenient options for filing a claim, ensuring that customers can choose the method that suits them best.
You can file a claim through their user-friendly online portal, over the phone with their dedicated claims representatives, or even through their mobile app. This flexibility makes it easy for policyholders to initiate the claims process on their terms.
Average Claim Processing Time
One of the critical factors in evaluating an insurance provider is the speed at which they process claims. American Equity Insurance Company strives for efficiency in claims processing.
While processing times may vary depending on the complexity of the claim, they make efforts to resolve claims as quickly as possible. Their commitment to timely claims settlement is reflected in their customer satisfaction ratings.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback is invaluable in assessing the quality of an insurance company’s claims service. American Equity Insurance Company prides itself on its customer-centric approach. They actively seek feedback from policyholders on their claim resolutions and payout experiences.
By incorporating customer input into their processes, they continually strive to improve their claims service and ensure that customers are satisfied with the outcomes.
American Equity Insurance Company Digital and Technological Features
Mobile App Features and Functionality
In today’s digital age, having a robust mobile app is essential for an insurance company. American Equity Insurance Company recognizes this need and offers a feature-rich mobile app.
The app allows customers to manage their policies, file claims, make payments, and access important documents, all from the convenience of their mobile devices. Its user-friendly interface and functionality enhance the overall customer experience.
Online Account Management Capabilities
For policyholders who prefer online account management, American Equity Insurance Company provides a comprehensive online portal. Through this portal, customers can access their policy details, update personal information, view billing statements, and track claims.
The online account management system is designed to empower customers with easy access to their insurance information and the ability to make informed decisions.
Digital Tools and Resources
American Equity Insurance Company goes beyond the basics by offering a range of digital tools and educational resources. These resources are aimed at helping customers understand their insurance needs better.
Whether you’re looking for insurance calculators, informative articles, or tips on risk management, American Equity’s digital tools and resources are readily available to assist policyholders in making informed decisions about their coverage.
Frequently Asked Questions
What sets American Equity Insurance apart from other providers?
American Equity Insurance Company distinguishes itself through a diverse array of coverage options, a solid A.M. Best rating, competitive rates, and a commitment to customer satisfaction. The company’s focus on comprehensive protection makes it a reliable choice in the insurance landscape.
How can I determine the right life insurance policy for my situation?
Selecting the right life insurance policy involves considering factors such as financial goals, family dynamics, and long-term plans. American Equity offers options like Whole Life, Term Life, Universal Life, and Variable Life Insurance, each tailored to different needs.
Can I bundle home and auto insurance with American Equity?
American Equity encourages bundling for maximum savings and convenience. By combining home and auto insurance, customers can enjoy significant discounts while ensuring comprehensive protection.
Are there discounts available for loyal customers?
Yes, American Equity values customer loyalty and offers various discounts. These include rewards for safe driving, bundling multiple policies, and maintaining continuous coverage.
How can I get a personalized insurance quote from American Equity?
Obtaining a personalized quote is straightforward. Visit American Equity’s website to provide necessary information or contact their agents directly. Through a discussion about your insurance needs, they can tailor a quote aligning with your specific situation and preferences.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
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