Also known as American Family, AmFam is a truly family-oriented company. They pride themselves on their “American Family” narrative, choosing to become the backbone of American safety.
After being founded in 1927, the company decided to become a private mutual company. This means that the customers own a share in the company. When the company profits, it shows in customer premiums. By sharing their profits, AmFam supplies American families with the affordable premiums that they need.
AmFam is very informative on their policies and terms. Their goal is to have an informed and satisfied customer. Looking at their website, customers get all of the information needed to make an educated decision on their insurance. Insurance shopping is encouraged by AmFam to truly get the best deal.
Know Your Drive
Know Your Drive is a driving aid that tracks driving habits and adjusts rates based on individual driving. Customers may download the app, and it monitors their driving habits to create the best rates. This driving aid gives customers a hefty discount, and it supplies driving tips. Just downloading the app creates a 5% discount for the customer. If the customer is a safe driver, they may enjoy up to 20% in savings.
Another useful app for the customer is the MyAmFam app. It is useful for providing proof of insurance on your phone, paying bills, and monitoring an insurance policy. Customers may enjoy auto pay to avoid any late payments, and filing a claim is as easy as opening the app.
AmFam offers accident forgiveness for the cautious driver. Customers may purchase it as a part of their policy, or they can go five years without an accident to automatically qualify. Accident forgiveness is a great feature that is good for one accident. The company promises to let customers keep their good driver discount with accident forgiveness.
Customers still have to file a claim and pay a deductible. However, accident forgiveness is an incredible way to save money after a little mistake. Choosing accident forgiveness saves customers up to 44% in a raised premium.
J.D. Power Review
AmFam has an overall average satisfaction rate from J.D. Power. This car insurance company scored an average on policy offerings. Customers are satisfied with agent interaction. They are below average on pricing, billing, and claims.
AmFam improved policy information and their website to further help customers. Before its improvement, quite a few customers had problems with the site’s layout. Those problems would cause serious delays with claims. According to J.D. Power, the company seems to be better at customer service and worse at the insurance process.
A.M. Best Review
This car insurance company is a mutual policyholder. This means their finances are directly connected to their customer, and it calls for better customer service overall. A mutual policyholder with excellent customer service is a great business model.
According to A.M. Best, AmFam meets all financial obligations, making them a dependable company. Customers relying on AmFam have peace of mind knowing that the company is financially stable. They rated the 3rd highest out of 15 other insurance companies for 17 years in a row. Also, they were number 311 in the Fortune 500. AmFam possesses a stable financial outlook and a solid business model.
Clearsurance Customer Reviews
AmFam scored a 4.01 out of 5 stars overall for customer service reviews. Customers like their easy-to-use website and the company tend to customer needs with little effort. Most customers are happy to pay a higher rate for excellent customer service, and AmFam delivers above and beyond results.
Around 79% of their customer reviews rate the company below average, and about 17% of their customer reviews rate the company above average.
AmFam’s below average reviews state that the company takes too long for claims. Others report that their rates rose significantly after an accident. Some customers report dissatisfaction with the company randomly raising their rates. Many poor reviews suggest that the prices are too high and do not fit consumer needs.
Happier customers report feeling satisfied with AmFam’s referral program. A good referral program gives customers some incentive to spread the word about a good company. The more customers that AmFam has, the better off the mutual policyholder is. Customers love the website, the discounts, and the variety of different coverage options.
In Summary: Pros & Cons
- Informative website to educate customers
- Lots of discounts for all types of drivers
- Variety of coverage options
- Great customer service
- Solid, stable business model
- Takes too long for claims
- Sky-high rates after accidents
- Random policy raises
- According to some, they are overpriced