Is American Security Insurance a Good Company

UPDATED: Nov 13, 2012

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UPDATED: Nov 13, 2012Fact Checked

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Asked November 13, 2012

1 Answer

American Security Insurance is a personal insurer based in Chicago. The company has only been in business for a few years, but is headed by professionals with more than 35 years combined insurance experience. American Security Insurance has an estimated net worth of around $1.25 billion.

It offers many different insurance products. Whether you're looking for a homeowners insurance policy, auto policy, or something else, American Insurance Company provides acceptable insurance coverage to meet state laws and mortgagee requirements on homeowners policies. 

The A.M. Best ratings company has issued an A (excellent) rating for American Security Insurance. This rating was issued in December of 2011, and is accompanied by a favorable and stable long range outlook of "a." This indicates that the company has the financial foundation necessary to underwrite policies and to withstand the possibility of paying out large claim settlements if the need arises.

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What Do Consumer Ratings Say about American Security Insurance Company?

Based on the average American Security Insurance Company review, the company is well-liked. Because they are a brokerage rather than an insurance underwriter, company employees focus on the customer rather than on selling policies. In short, their focus is on finding what the customer needs as opposed to selling policies that don't necessarily make sense. They can provide insurance quotes from multiple companies allowing potential insureds to compare policies side-by-side without pressure to choose one insurance provider.

American Security Insurance is only licensed to sell insurance in the state of Illinois. The company may expand into other areas in the future, but they have not received any additional licenses as of late 2012. This company may not be suitable for those who have properties in multiple states or are planning to move out of Illinois in the near future.

What Insurance Products Are Offered by American Security Insurance Company?

American Security Insurance company sells auto, home, and business insurance. Business coverage includes liability insurance, commercial vehicle coverage, and other types of insurance and reinsurance designed for the business community. Their goal is to be a one-stop location for insurance in the state of Illinois, providing all types of insurance coverage for the average person or business owner.

Answered November 13, 2012 by Anonymous

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