American Strategic Insurance (ASI) Home Insurance Review
American Strategic Insurance (ASI) is one of the younger companies offering home insurance policies these days. Since this company was founded just over 20 years ago, it saw exponential growth. Over the years, it has established itself as part of the top 15 homeowners insurance providers nationwide. Today, American Strategic Insurance is operating as part of the Progressive Insurance and provides coverage in 40 States.
What You Need To Know About American Strategic Insurance
American Strategic Insurance (ASI) was founded in Florida in 1997. The company’s initial goal was to provide insurance locally in Florida. Within a few years, they expanded and provided policies for homes in Texas. Even as it is a fairly new company, it was able to survive some of the worst hurricanes to hit the East Coast. They even continued with their services even when some other bigger insurance companies pulled out their operations in Florida.
In 2012, American Strategic Insurance (ASI) made several mutual investments with Progressive. Three years later, Progressive bought a majority interest in ARX Holding Corporation, ASI’s holding company. Later, their logos were merged with Progressive’s name added to the logo.
By early 2017, American Strategic Insurance has been underwriting homeowners insurance in 40 states. They also launched a car insurance program in California. ASI’s main headquarters is located in St. Petersburg, Florida and still has CEO John Auer, the founder as its head. They provide a variety of insurance policies including home, condo, renters, and seasonal insurance.
ASI Home Insurance Coverage
American Strategic Insurance provides a standard home insurance policy which will protect your home in case of common perils like fire, theft, vandalism, smoke, lightning damage, explosions, windstorm, hail, aircraft or vehicle damage, and more. Just like most standard homeowners insurance, you will be able to get coverage for items like:
- Dwelling Replacement Value – This includes protection for your dwelling, as well as, any other unattached structures like a fence, shed, small garage, or mailbox. If there is damage caused by any of the covered perils, your home will be protected.
- Personal Property – This coverage will provide protection for the items inside your home including clothes, furniture, appliances, and more.
- Personal Liability – This will protect you in case a lawsuit arises due to accidents that happen within your property, whether you are responsible or not of the event. For example, if a person slipped due to a wet pathway in your home.
- Loss of Use – This coverage will reimburse you with any extra expenses in case you are unable to stay in your home due to covered damage. For example, if a fire broke out of your kitchen and you need extensive repair. You will get reimbursements of any added costs like rental, food, gas, travel, laundry or more.
- Medical Expenses – Covers any medical cost that may arise if a guest is injured while in your property.
Additional protection is also available such as increased limits on personal injury or valuable items (like jewelry). Furthermore, ASI also provides optional coverage like the HomeShield and flood insurance. This package can broadly increase the limits of otherwise a standard policy. As most homeowner’s insurance does not cover flood-related damage, this add-on will be extremely helpful if you live in a flood-prone area.
ASI Home Insurance Discounts
One of the best things that ASI offers is the long list of home insurance discounts that you can take advantage of. For example, if you own a car or you own a newly bought home, you may enjoy potential discounts that can reduce your premium price up to 55%.
- Bundled Discounts – Car owners can enjoy one of the best discounts as you can bundle auto insurance with your homeowner’s coverage. Moreover, depending on which state you are located, you can also include a single-deductible option. In case a covered peril damages your home and car at the same time, you are only required to pay the auto insurance deductible.
- Non-smoker Discount – This discount is given if all the residents in the insured home are non-smokers.
- Protective Device Discount – If you installed devices like smoke detectors and burglar alarms, you may qualify for this discount.
- New Home Discount – If your home is new you will also enjoy a discount.
- Newly Constructed Home – If you own a property that was recently built, you will be able to enjoy a discount.
- Secured Building/Community Discount – If you are living in a gated community or those with extra security, you will be able to enjoy a discount.
- Electronic Policy Discount – Get discounts when you opt to get your documents via email.
- Window/Opening Protection Discount – Get a discount if you use impact-resistant windows.
- Full Payment Discount – For those who pay their one-year premium up.
- Umbrella Discount – This is for those who maintain an umbrella liability policy.
Unfortunately, ASI has not been receiving the best reviews from its customers. It has received poor reviews compared to its competitors when it comes to customer service. The company’s JD Power Ratings is only at 3 stars. It has consistently ranked poor with its services like claims resolution. ASI ranks with A+ (Superior) financial rating with A.M. Best.
According to consumer review website Clearsurance, ASI is only able to secure a score of 3.4 out of 5 stars for its services, which is a pretty low score compared to many leading insurance providers.
Pros And Cons