American Home Assurance Company Auto Insurance Review (2021)

Looking at American Home Assurance? They offer workers comp, wholesale umbrella, and catastrophic risk coverage, and have a financial rating of A (Excellent) by A.M. Best.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. He reviews content, ensuring that ex...

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: May 10, 2021

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Company Details
Address: 175 Water Street, 18th Floor
City: New York
State: NY
ZIP Code: 10038
Phone Number: 877-638-4244
Year Founded: 1899
AM Best Rating: A
Company Rating 0 (0 reviews)

Things to remember...

  • American Home Assurance Company was founded in 1899
  • The company is also involved in underwriting policies for consumer electronics
  • A.M. Best gives the company an “A” for financial strength despite its negative future outlook

American Home Assurance Company is an American casualty and property insurance business founded in 1899. It focuses solely on business lines of insurance including worker’s compensation, wholesale umbrella, and catastrophic risk.

The company is also involved in underwriting policies for consumer electronics to be covered under manufacturer and retailer warranties. There is some speculation as to who American Home Assurance Company’s parent company is at this time.

There are some business websites that list American Home Assurance Company as a subsidiary of PineBridge Investments, LLC.   PineBridge was the investment arm of American International Group (AIG) until it was sold in March of 2010.

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What Is Going On With American Home Assurance Company?

American Home Assurance Company, its business is currently undergoing restructuring. As of last year, it was having trouble meeting its short-term obligations to the extent that that A.M. Best withdrew its ratings from the Canadian division.

It was downgraded the future outlook of the American Division from stable to negative. A negative future outlook indicates that A.M. Best is not confident in a company’s long-term growth and viability.

With such a rating it is understandable that American Home Assurance Company would be undergoing a restructuring.

In a situation like this, a company typically continues servicing current policies and customers but refrains from any new business until it regains its financial footing.

From all indications, it would seem that American Home Assurance Company is following such a plan. The company doesn’t maintain its own website, so it is very difficult for us to verify this information.

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What Is The Financial State Of The American Home Assurance Company?

It’s interesting to note that A.M. Best gives the company an “A” for financial strength despite its negative future outlook.

Financial disclosures on file for 2010 indicate American Home Assurance is doing well for a company in peril. The company reported total assets of $25.3 billion working capital of $25.4 million and a policy surplus of $5.3 billion.

It is possible that these numbers apply to all of AIG and its subsidiaries rather than just American Home Assurance.

How Can You Find American Home Assurance Company Agents and Locations?

The only address we could uncover in the United States for this company is the New York City address listed above. There are a couple of other addresses associated with it as listed in various court documents, but these addresses cannot be verified.

As far as independent agents are concerned, we also couldn’t find out any current information on them.

It doesn’t seem likely American Home Assurance Company would use independent agents due to the nature of its business. That’s not to say it’s impossible, just unlikely.

What Is The American Home Assurance Company Claims Process?

When an insurance company enters a reorganization, it is still obligated to meet all claims made against issued policies. There’s no reason to believe that American Home Assurance is not honoring current claims.

Since no formal court action is involved yet the company retains all of its own decision-making power in settling claims brought by customers who previously purchased an insurance product.

If the company reaches a point where court intervention is required, it’s quite likely the court would then make all decisions regarding claims.

Because business insurance is drastically different in many ways from personal assurance, filing a claim with American Home Assurance Company can be a time-consuming process.

This is especially true in the area of worker’s compensation due to the fact that laws differ from one state to the next.

Worker’s compensation claims tend to cause great financial stress on an insurance company; American Home Assurance is no exception. Nonetheless, if you have a worker’s compensation claim to file with the company, it should be honored in accordance with your insurance contract.

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