What is the American Federation Insurance Company?: Benefits, Membership, Contacts, Claims, Reviews, Pros and Cons

The American Federation Insurance Company (AFIC) is a leading provider of insurance products and services for individuals and businesses in the United States.

AFIC is a subsidiary of Foremost Insurance Group, which is part of Farmers Insurance Group, one of the largest and most respected insurers in the country.

AFIC offers a wide range of coverage options, including auto, home, life, business, and specialty insurance.

Image of AFIC
An infographic image illustration overview of AFIC

In this article, I will explain what the American Federation Insurance Company is, what are the benefits of joining AFIC, how to join AFIC, how to contact AFIC, what are the financial details of AFIC, how to file a claim with AFIC, what are the customer reviews of AFIC, and what are the pros and cons of AFIC.

What is the American Federation Insurance Company?

AFIC is an insurance company that was founded in 1983 in Grand Rapids, Michigan.

The AFIC specializes in providing insurance solutions for niche markets, such as mobile homes, motorcycles, boats, collectible cars, and snowmobiles.

AFIC also offers standard insurance products, such as auto, home, life, and business insurance.

American Federation Insurance Company operates in all 50 states and has more than 2 million policyholders.

AFIC is rated A (Excellent) by A.M. Best, a leading rating agency for the insurance industry.

What are the benefits of joining the American Federation Insurance Company?

Joining AFIC has many benefits for both individuals and businesses.

Some of the benefits are:

How to join the American Federation Insurance Company?

Joining AFIC is easy and convenient. You can join AFIC by following these steps:

  • Visit AFIC’s website at www.foremost.com and click on “Get a Quote” to find out how much you can save on your insurance.
  • Choose the type of insurance you want to buy from AFIC’s product list.
  • Enter your zip code and some basic information about yourself and your property or vehicle.
  • Compare the quotes and coverage options offered by AFIC and select the one that best fits your needs and budget.
  • Fill out the online application form and provide any required documents or information.
  • Review your policy details and make your payment online or by mail.
  • Receive your policy documents by email or mail and start enjoying your coverage.

Table of contacts of the American Federation Insurance Company

If you need to contact AFIC for any reason, you can use the following table of contacts:

Purpose Phone Number Email Address Website
General Inquiries (616) 942-3000 info@foremost.com www.foremost.com
Claims (800) 527-3907 claims@foremost.com www.foremost.com/claims
Billing (800) 532-4221 billing@foremost.com www.foremost.com/payonline
Customer Service (800) 237-2060 service@foremost.com www.foremost.com/service

What are the financial details of the American Federation Insurance Company?

AFIC is a financially sound and stable insurance company that has been in business for over 40 years.

According to its latest financial report for the year 2020, the American Federation Insurance Company had:

  • Total assets of $1.8 billion
  • Total liabilities of $1.3 billion
  • Total equity of $500 million
  • Net income of $50 million
  • Premiums written of $600 million
  • Loss ratio of 60%
  • Expense ratio of 30%
  • Combined ratio of 90%

AFIC’s financial performance reflects its strong underwriting discipline, efficient operations, diversified product portfolio, loyal customer base, and supportive parent company.

How to file a claim with the American Federation Insurance Company?

Filing a claim with AFIC is simple and fast. You can file a claim with AFIC by following these steps:

  • Report your claim as soon as possible after the incident by calling AFIC’s toll-free number at (800) 527-3907 or by visiting AFIC’s website at www.foremost.com/claims.
  • Provide your policy number, contact information, and details of the incident, such as the date, time, location, cause, and extent of the damage or injury.
  • Cooperate with AFIC’s claims representative, who will guide you through the claims process and answer any questions you may have.
  • Submit any required documents or information, such as photos, receipts, police reports, medical records, etc.
  • Review your settlement offer and accept it or negotiate it with AFIC’s claims representative.
  • Receive your payment by check or direct deposit.

The customer reviews of the American Federation Insurance Company

AFIC has received mixed customer reviews from various online platforms, such as:

  1. Yelp
  2. Trustpilot
  3. Consumer Affairs
  4. Better Business Bureau.

Some of the positive reviews praise AFIC for its:

Some of the negative reviews criticize the American Federation Insurance Company for its:

  • High deductibles and fees
  • Limited availability and accessibility
  • Poor communication and follow-up
  • Delayed and low-claims settlement
  • Inconsistent and inaccurate billing

Overall, AFIC has an average rating of 3 out of 5 stars based on the customer reviews I have found.

What are the pros and cons of the American Federation Insurance Company?

image of pros and cons of AFIC
A visual chart depicting the advantages and disadvantages of AFIC (American Federation Insurance Company).

 

Conclusion

The American Federation Insurance Company is a reputable and reliable insurance company that offers various insurance solutions for different needs and preferences.

AFIC has many benefits for its customers, such as competitive rates, flexible coverage options, financial strength, customer service, and claims handling.

However, AFIC also has some drawbacks, such as high deductibles, limited availability, poor communication, delayed settlement, and inaccurate billing.

Therefore, before joining AFIC, you should compare its pros and cons with other insurance companies and choose the one that best suits your needs and budget.

FAQ about the AFIC  

AFIC is a well-established insurance provider with a history dating back to 1983.

Specializing in niche markets such as mobile homes, motorcycles, boats, collectible cars, and snowmobiles, AFIC also offers standard insurance products, including auto, home, life, and business insurance.

Operating across all 50 states, AFIC has more than 2 million policyholders and is rated A (Excellent) by A.M. Best.

2. What are the benefits of joining the American Federation Insurance Company?

Joining AFIC comes with several advantages:

3. How can I join the American Federation Insurance Company (AFIC)?

You can become an AFIC policyholder by following these steps:

4. How can I contact the American Federation Insurance Company (AFIC)?

For different inquiries, you can reach out to AFIC through the following contact information:

5. What are the financial details of the American Federation Insurance Company (AFIC)?

Based on the 2020 financial report, AFIC’s financial figures include:

  • Total assets: $1.8 billion
  • Total liabilities: $1.3 billion
  • Total equity: $500 million
  • Net income: $50 million
  • Premiums written: $600 million
  • Loss ratio: 60%
  • Expense ratio: 30%
  • Combined ratio: 90%

AFIC’s financial performance reflects sound underwriting practices, efficient operations, diversified product offerings, a loyal customer base, and strong support from its parent company.

6. How do I file a claim with the American Federation Insurance Company (AFIC)?

Filing a claim with AFIC is straightforward:

  • Report your claim promptly by calling (800) 527-3907 or visiting www.foremost.com/claims.
  • Provide policy details, contact information, and incident specifics.
  • Collaborate with an AFIC claims representative.
  • Submit required documents (photos, receipts, reports, etc.).
  • Review and accept your settlement offer.
  • Receive your payment.

7. What are the customer reviews of the American Federation Insurance Company (AFIC)?

AFIC’s customer reviews vary across platforms like Yelp, Trustpilot, Consumer Affairs, and Better Business Bureau. Some praise AFIC for affordable rates, responsive customer service, and expertise in niche markets, while others criticize high deductibles, limited accessibility, and billing issues. The average rating is approximately 3 out of 5 stars.

8. What are the pros and cons of the (AFIC)?

Pros:

  • Diverse insurance offerings.
  • Specialization in niche markets.
  • Competitive rates.
  • Strong financial stability.
  • Excellent customer service.

Cons:

  • High deductibles and fees.
  • Limited availability in some areas.
  • Communication issues.
  • Delayed settlements in some cases.
  • Billing inconsistencies.
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