- Available in all 50 states
- Wide range of coverage options
- Affordable rates
- Not the best at handling claims
- Some complaints regarding customer service
- Few discounts available
Operating in all 50 states, American National Insurance (ANICO) provides coverage for homes, apartments, condos, cars, businesses, and farms. Their coverage does not stop here, as ANICO is also known for offering life and health insurance to its customers. They serve as a one-stop company with the goal in mind to help customers in the ways that work best for the individuals. Their coverage is flexible to suit many different situations and needs. They advise they are there for people every step of the way.
ANICO operates with its core values in mind. These values include financial stability, integrity, respect, service, and teamwork. Since the company was founded in 1905, they have plenty of experience working with a variety of insurance products. They are able to help a multitude of customers to provide excellent service. ANICO is best known for providing a stable foundation to its customers. This makes for a great company to work with if you are in the market for homeowners insurance.
The company is very transparent about its business dealings. Online, they offer links that detail investor relations, job opportunities, and equality acts that are in effect at all times. You can find out a lot about ANICO by visiting their website. Over the last century, they have created a solid catalog of products that have been useful for people all over the country.
American National Insurance Company is the parent company of a large network of companies including:
- American National Property and Casualty Company (ANPAC)
- American National Life Insurance Company of New York
- Farm Family Companies
- Standard Life and Accident Insurance Company
- Garden State Life Insurance Company
- American National Life Insurance Company of Texas
American National homeowners insurance coverage breakdown
Getting a policy through ANICO means you will have coverage for your dwelling, other structures, personal belongings, additional living expenses, personal liability, and medical payments. These are all standard coverages that you would expect when shopping for homeowners insurance, and ANICO promises to provide them all. They offer a range of additional coverages if you want to make your policy more comprehensive.
ANICO hopes to provide its customers with as much knowledge as possible. They have an article online that offers tips on how to remain loss-free. These tips are useful for any homeowner and can potentially help you avoid any future losses. It is great to work with a company that aims to help you this way because you never want to anticipate having to file a claim.
Additional coverages
There are several additional coverages you can add to your homeowners insurance policy when you work with ANICO. If you want more comprehensive coverage or coverage for specific perils, you can ask an agent to add these endorsements to your policy.
- Replacement cost for personal property
- Scheduled personal property
- Equipment breakdown
- Service line
- Mine subsidence
- Increased debris removal
- Earthquake insurance
- Increased additional living expenses
- Identity theft
- Personal umbrella insurance
These are all very useful coverages and may apply to your situation. If you want to get an idea of which ones to choose, you can get a quote from a licensed agent to find out more.
American National condo insurance
American National’s condominium insurance provides similar coverage as the HO-3 plan, however, the main difference is that the replacement cost guarantee is optional for condo owners. Condominium unit owners are provided coverage at an X-dollar amount (which they can negotiate), and they’re also entitled to repair costs, personal belongings, loss of use liability, and medical expenses. If a client wishes to upgrade their condo insurance policy at guaranteed replacement cost, they can purchase this policy as an optional add-on.
American National homeowners insurance premiums
You can expect to pay around $1,940 annually on homeowners insurance through ANICO. This is about the same as the national average, which is listed at $1,899 annually. The above quote is based on a dwelling limit of $300,000, but it is subject to change depending on how much your home is worth. Many customers can attest to the pricing offered by ANICO. They state that the company provides low rates that are affordable.
Discounts available
There are two discounts offered by ANICO if you are looking to save money on your homeowners insurance.
- You may qualify for a discount if you bundle your home and auto insurance with the company. This allows you to work with a single company while also saving money.
- They also have a discount listed that gives you credit for being loss-free for three years or longer. ANICO rewards its customers for not having to file claims, and you can use this to your advantage if you qualify for the discount.
Claims process
There are several reviews left for ANICO regarding its claims handling. It appears that those with few or minor claims have no issues receiving payments. They were treated fairly, and these customers have no complaints. However, people who have gone through more serious losses have stated the company is difficult to communicate with. Some even stated they had to call to follow up several times before ever getting a response from ANICO.
It appears that this is a weak point for the carrier, and it is definitely something to keep in mind when you are shopping for homeowners insurance. While you never anticipate filing a claim, working with a carrier who will help you in your time of need is important. For this reason, ANICO does not have the best reputation for being able to handle claims efficiently.
Customer service
Many reviews for ANICO regarding its customer service are positive. People feel the company is helpful and efficient when handling customer service inquiries. There are some negative reviews that state the company is not great at communication, but it appears the positive reviews outweigh the negative ones. This indicates the company has a decent reputation for its customer service.
According to the NAIC, ANICO scores 0.36 on the complaint index in 2022. This is a lower-than-average score, given the average of 1.0. This is a great sign for the company because this indicates that ANICO has received 19 total complaints for its homeowners insurance products, but this is still well below the average for other companies of the same size.
As of June 2023, American National has earned 3.6 stars from 112 Google reviews.
Financial strength
BBB
ANICO is not currently rated or accredited by the Better Business Bureau, so it is difficult to get an idea of the company’s current financial standing. On the website, there are 30 closed complaints over the last three years listed, so this is something to keep in mind.
AM Best
Through AM Best, ANICO holds an A rating. This indicates the company is financially stable, which is a good sign. The future outlook for ANICO is also listed as stable, so this is a factor to take into account when assessing the financial strength of the company.
The verdict
ANICO is a large and stable company that offers a large variety of insurance products. They are able to provide homeowners insurance policies that are comprehensive and flexible to suit your needs. With their large list of additional coverage, you will be certain your home is fully protected when you go with ANICO for your homeowners insurance. There are a few discounts offered if you are looking to save money on your insurance, but the company is known for having affordable rates.
When it comes to handling claims and customer service requests, ANICO does not have the best track record. The company definitely seems to favor those without claims or with minor claims. People who have experienced large losses have had difficulty working with the company because of communication concerns. Reviews have stated ANICO is not the easiest to get in touch with and does not always pay out in a timely manner.
If you are looking for an insurance carrier for your homeowners policy, ANICO might not be the best choice. They have all the right components, but they are not always known for handling their customers’ needs in the best way. In case you do need to file a claim, you want to be sure you are working with a carrier who can be on your side.
