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American Family Motorcycle Insurance Review

American Family Motorcycle Insurance Review

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American Family Insurance is a company based in the United States that offers policies throughout 19 states including: Arizona, Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah, Washington, and Wisconsin. American Family, also known as AmFam, has been around since the late 1920s and was initially founded under the name Farmers Mutual Insurance Company. Today they provide people with all types of insurance including: auto, motorcycle, boat, ATV, homeowners, renters, personal liability, life, and health insurance. They also provide services for annuities and IRAs.

They are currently a Fortune 500 company that has the slogan, “All your protection under one roof.” Although they don’t offer policies in every state, they have become very popular within the 19 states that they provide coverage. If you live in one of the states that they cover and are interested in American Family, this review should provide you with quality information to help you decide whether this company is a good fit for you and your bike.

American Family Company History

American Family Insurance Company was founded on October 3, 1927 by an insurance salesman named Herman Wittwer. At the time he named the company “Farmers Mutual Insurance Company” and established headquarters in Madison, Wisconsin. During this time, the company’s only goal was to provide auto insurance services to farmers. Wittwer (the founder) believed that Farmers posed lower risk than drivers in the city because they drove less frequently and rarely drove in wintery conditions. By 1938, the premiums and assets of Farmers Mutual had surpassed $1 million.

The company continued to experience steady growth and by 1957, they began to provide people with sickness and accident insurance. As years passed, Farmers Mutual expanded into a company with a large customer base and had to expand to provide customers with more insurance options. In 1958, the company began offering homeowners insurance policies and opened a life insurance branch. Just a year later, they had began using computers to help run a more efficient business. In 1962, the company provided people with farm or “farmowners” insurance.

By 1963, Farmers Mutual had changed its name to “American Family Mutual Insurance Company” to represent a broader, more diverse set of customers. This name change was agreed upon by policyholders. By 1970, they opened American Family Financial Services to help customers with finances and to continue building momentum as a company. In 1975, American Family had become the 5th largest mutual auto insurance provider – at this time they also introduced Commercial Lines insurance.

By 1981, the company assets had reached $1 billion and they had become the fourth largest mutual auto insurer. In 1985, American Family Brokerage, Inc. opened and within one year, it had posted up a $100 million operating gain.
In 1992, the surplus for policyholders was in excess of $1 billion. In 1994, American Family was among the top 11 property/casualty insurance companies in the United States. Just two years later (1996), American Family had appeared on the Fortune 500 companies list – coming in at #403. Assets had increased to over $8 billion in 1997 and they had become a top 10 property/casualty insurance company in the U.S.

In 2001, American Family Securities, LLC introduced its product line and total company assets had increased to $10 billion. At this time the company also expanded services to cover individuals in Idaho and Utah; covering 17 states. In 2002, the company was 75 years old and just a year later in 2003, it donated $10 million to help build the UW Children’s Hospital (named “American Family Children’s Hospital”). In 2006, the company began offering services in Washington and in 2009 it provided coverage in Georgia; covering 19 states. In 2012 American Family acquired “The General Insurance” company.

American Family has gone on to receive the “Teen Driving Safety Leadership” award from the National Safety Council. The company created a video playback system called the “DriveCam” which allows parents to watch their teens behind the wheel. The program had resulted in a 70% reduction in risky driving decisions. Additionally, it should be noted that American Family donated an estimated $1 million to the United Way in 2007 and 2008. Currently they are a top insurance company in the United States that continues to experience growth.

American Family Companies:

  • American Family Mutual Insurance Company
  • Amfam.com, Inc
  • American Family Securities, LLC
  • American Standard Insurance Company
  • American Standard Insurance Company of Ohio
  • American Family Insurance Company of Ohio
  • American Family Life Insurance Company
  • American Family Brokerage, Inc.
  • American Family Insurance Products

American Family Motorcycle Insurance Coverage Options

When it comes to motorcycle insurance policies, you need to remember that coverage is king. Getting a lower price is always good – everyone likes to save, but when it comes to insurance, the saying “you get what you pay for” usually holds true. Below are some of the various types of coverage that you can purchase through American Family if you are interested.

Basic Plan:  The American Family “basic” plan will provide you with what is necessary to keep yourself and your bike safe on the road. This plan will include collision, comprehensive and liability protection.

  • Collision Insurance – This covers any losses that result from a collision with another vehicle or object – regardless of who is at fault.
  • Comprehensive Insurance – Any losses that are caused by something other than a collision are protected with comprehensive coverage. Examples of things covered would include: fire damage, theft, weather damage, animal damage, etc.
  • Liability Insurance – This helps protect your own finances by paying for legal and medical expenses if you injure another individual while driving your bike.

Basic Plus Plan:  This provides everything included under the “basic plan” (i.e. collision, comprehensive, liability) – plus offers protection for your accessories. This is for people that want their bike AND accessories insured.

  • Accessory Coverage – This includes things like: CD players (and discs), custom chrome, custom paintjobs, custom seats, extended forks, fairing, highway bars, luggage racks, radio, saddle bags, side cars, sissy bars, tape players, trailers, trunks, and windshields.
  • Medical Expense Insurance – If you would like to buy additional medical coverage through American Family, they can increase your limits. This is for individuals that would feel safer having maximum medical protection.
  • Uninsured/Underinsured Motorist Coverage – There are plenty of drivers that lack insurance and/or are uninsured. To protect yourself in case you were to get into an accident with one of these drivers, you could purchase uninsured/underinsured motorist protection.

American Family Motorcycle Insurance Payment Options

When it comes to making payments through American Family, you have a couple of options. You can either pay your entire bill all at once, or you can set up a monthly plan. Each of the payment types has its pros and cons.

Full Balance Payment – Making a full balance payment requires you to pay for your entire policy balance all at once. You’ll get a discount by paying everything all at once too! Not everyone can afford this option, but it makes sense if you want the additional savings.

Monthly / Minimum Due – You can also pay each month towards your policy – you will be sent a bill to pay each month. This is also called the minimum due amount – this must be paid in order to maintain your insurance coverage.

American Family Payment Methods

Automated Funds Transfer – This allows for payments to be automatically transferred from your checking or savings account to American Family.

Credit Card – You can pay for virtually any of your bills with a credit or debit card.

Immediate Online Payment – If you like paying bills online, you can make an online payment that gets processed immediately.

Immediate Phone Payment – Simply call American Family via phone and pay using their automated system.

Mail Your Payment – You can send American Family a payment in the mail by sending your money with the detachable payment stub on your bill.

Online Bank or Bill Payer Service – If you’d like, you can set up electronic payments (EFT) through an online bank or bill payment service.

Online Billing – You can set up your bills to be received and paid online. All you have to do is enroll, set up how you’d like to pay, and you’re set.

Does American Family offer paperless billing?

Yes. Like most major insurance companies, American Family is proud to offer paperless billing to customers that would like this convenience. Some people don’t like the hassle of dealing with receiving paper statements in the mail. For this reason, American Family has given their customers access to everything they need online. You can receive email reminders as to when your next bill is due, log onto your account, and pay it. This helps save you clutter, helps save the environment, and helps save you money from buying stamps and paying your bills via mail.

American Family Motorcycle Insurance Discounts

All major motorcycle insurance companies provide discounts to help you save on your bill. American family wants to give their customers fair discounts to reward them for being safe on the road and responsible individuals.

Accident Free – If you are accident free for 3 consecutive years with American Family, you could qualify for a 5% discount. If you’ve been with them for 6 consecutive years with no accident, you can save up to 10%.

Air Bags – Does your motorcycle have airbags installed? Depending on your state, you could save anywhere from 10% to 30% off your coverage.

Bundling Policies – If you bundle various types of policies all with American Family (“under one roof”) you can save between 5% and 20% on your overall coverage. For example, you could bundle your motorcycle and homeowners insurance with American Family and save a significant amount of money.

Defensive Driver – If you complete a driver safety course and meet the age requirements set by American Family, you could get up to a 5% or 10% discount.

Early Bird – If you hold an active insurance policy with another provider and purchase a policy with American Family at least 7 days before it goes into effect, you can get 5% or 10% off with the “early bird” savings.

Good Driver – If you are a good driver, you will be rewarded. Drivers with no accidents, violations, or claims can receive up to 5% or 10% off depending on their state.

Good Student – If you are currently a student and are getting good grades, American Family will give you an additional discount. You need to receive at least a “B” average to qualify – but may vary depending on your state and other factors.

Multiple Vehicles – If you need more than one motorcycle or more than one vehicle insured (e.g. a bike and a car) insured with American Family, they will reduce your premiums. The exact percentage you will save will vary.

My Safety Valet – You can qualify for up to a 5% introductory savings and up to a 30% savings after 6 months based on your driving performance. The exact percentage you can save will vary and is dependent upon your state.

Steer Into Savings – Should you switch from another insurer to American Family, they may give you a 5% discount on your premium.

Time Away – This is for drivers up to 24 years old who attend school without their insured bikes. If you are over 100 miles away from your home and won’t be attending school with your bike, you can save yourself money.

A.M. Best Rating: A (Excellent)

American Family has received a rating of “A” by A.M. Best. This indicates that they are a financially strong company and should have no problem taking care of their customers’ needs. They have plenty of assets and seem to be experiencing stable growth. Although you may not be totally concerned with this rating, it is good to keep in mind because it indicates that the company is unlikely to experience any kind of collapse and should be able to easily compensate you for your claims.

Based on independent ratings online, American Family has received about a 4/5 star rating. This is fairly average, but a lot of customers had good things to say about them. Most people are happy with their ability to handle claims quick and effectively. They were also mentioned as being one of the more honest insurance companies in the industry. Overall, they seem like a very solid company to buy a policy through.

Get Free American Family Motorcycle Insurance Quotes Online!

If you’d like to get a quote for American Family insurance, simply enter your Zip Code into the box below (or at the top of the page). This will show you the top insurance providers in your area and help you determine who is going to offer you the best value for your dollar. Remember, American Family only provides motorcycle coverage in 19 states – make sure you are in their coverage area before you decide to set up a policy. Be sure to always compare quotes with other companies before you buy a policy with American Family. American Family is a company that does good business – you can depend on them for quality coverage.

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