Last Updated: 04/18/2025
American Bankers Insurance Company of Florida
Unaffiliated
in Flood Insurance from Assurant
Last Updated: 04/18/2025
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Financial Strength Rating
A(Verified 04/18/2025)
American Bankers Insurance Company of Florida Review
American Bankers Insurance Company of Florida is an insurance carrier based in New York, NY. The company was founded in 1892 and offers flood insurance in 50 states (and Washington, DC). Flooding is the number one natural disaster in the United States. According to FEMA floods cost Americans more than a billion dollars a year. However, standard homeowners insurance policies don't cover flood damage.
American Bankers Insurance Company of Florida FAQ
What types of coverage does American Bankers Insurance Company of Florida offer?
Flood insurance includes a variety of coverages. One of the best ways to saving money on your home insurance is to only pay for the coverage you need. There are two main types of flood insurance: policies offered by the National Flood Insurance Program (NFIP) and those provided by private companies, also known as excess flood coverage. American Bankers Insurance Company of Florida offers both types.
NFIP Flood Coverage: Flood insurance through the National Flood Insurance Progam has two basic policies. One that covers the building property up to $250,000 and one that covers personal property up to $100,000.
Excess Flood Coverage: Some carriers offer this policy to homeowners who need more than the $250,000 of dwelling coverage offered by NFIP flood insurance. Excess flood coverage can also provide additional protection for valuables or expensive home upgrades not covered by standard flood insurance.
American Bankers Insurance Company of Florida customers can also add the following riders or endorsements to their home insurance policies:
How can you save money on a American Bankers Insurance Company of Florida home insurance policy?
When you ask for a quote with American Bankers Insurance Company of Florida, make sure you ask for all the discounts you qualify for.
- Flood Zone Designation: The Federal Emergency Management Agency (FEMA) creates flood zone maps that estimate the risk of flooding.
- Freeboard (Property Elevation Above BFE): Homewoners who elevate their homes above the base flood elevations (BFEs) pay lower premiums. For example, adding a 2-foot elevation to a home could reduce your flood insurance premiums by more than $1,000 a year.
Want more discounts? Check the discounts tab for a full list of general policy discounts you can qualify for with American Bankers Insurance Company of Florida.
What additional benefits does American Bankers Insurance Company of Florida offer?
American Bankers Insurance Company of Florida offers the following benefits to its customers:
- Local Agents: Perfect for people who prefer the personal touch of a local insurance agent.
What is the financial strength rating of American Bankers Insurance Company of Florida?
The financial strength rating of an insurance company scores its ability to pay contracts and policies. Each agency has its own standards and rating scale and a company's rating can change any day. It's a good idea to check the financial rating of an insurance company before you purchase a policy. There are five main rating agencies. SuperMoney's financial strength rating is based, among other factors, on the average score from available ratings.
American Bankers Insurance Company of Florida scores an A or excellent, which is SuperMoney's second highest available score.
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