Old American Insurance Company Reviews: Ratings, Complaints & Coverage Options

Old American Insurance Company has been providing insurance products for over 80 years. But how do current customers rate their services and coverage options? This comprehensive guide examines Old American reviews, complaints, ratings, financial stability, and policy options to help you evaluate if they are the right insurer for your needs.

Overview of Old American Insurance Company

Old American Insurance Company was founded in 1939 in Kansas City, Missouri where it maintains its headquarters. It offers a range of insurance products including:

• Auto insurance
• Homeowners insurance
• Renters insurance
• Condo insurance
• Umbrella insurance
• Business insurance
• Life insurance
• Accident insurance

The company employs over 500 people and writes policies across 43 states, though its key markets are in the Midwest and South. Old American sells insurance directly to consumers as well as through a network of independent agents.

Old American Insurance Ratings and Accreditations

Here is an overview of Old American’s financial strength ratings and business accreditations:

• A.M. Best rating: B++ (Good)

• BBB rating: A+ (Accredited Business)

• NAIC complaint index: 0.94 (Better than average)

The AM Best rating of B++ indicates the company has a “good ability to meet their ongoing insurance obligations.” The BBB accreditation reflects Old American meets standards for ethical business practices. And a low NAIC complaint index indicates fewer-than-average customer complaints.

These ratings provide evidence of Old American’s solid financial footing and commitment to customer service. While not the highest-rated insurer, their scores reflect stability.

Old American Customer Reviews on Complaints and Claims Experiences

Here are excerpts of reviews from current Old American Insurance customers highlighting their experiences with the company:

Positive Reviews

• “I’ve been with Old American for 6 years now and have been satisfied overall. Rates are reasonable and they’ve handled the one claim I had efficiently and fairly.”

• “Getting an insurance quote was quick and easy through their website. My agent walked me through options. Paid a homeowners claim with no issues.”

• “Switched my condo policy to Old American from a big national insurer and saved almost 30%! The coverage is just as good. Very happy with the change.”

Critical Reviews

• “After 10 years as a customer, they raised my premiums for no reason except that I’m a loyal customer. Terrible way to treat long-term policyholders.”

• “I sent all documents they requested but they still denied my hurricane claim saying the damage was from flooding they excluded. Don’t buy this insurance!”

• “Tried to get a quote online but never received a response back. Their website promises fast replies so I’m not impressed.”

Overall, many customers highlight competitive pricing and effective claims resolution in positive Old American reviews. But a recurring complaint is rate hikes on policy renewals, even for long-time customers. Denied claims are another common frustration.

Typical Home Insurance Policy Options from Old American

Coverage highlights:

• Dwelling coverage up to $300,000
• Personal property coverage up to $150,000
• Loss of use up to $60,000
• Personal liability up to $100,000
• Guest medical up to $1,000

Optional add-ons:

• Replacement cost for personal property
• Scheduled personal property to cover expensive items
• Water/sewer back up
• Equipment breakdown
• Identity fraud expense

Discounts available:

• Multi-policy
• Warranty and protective devices
• New home
• Loss-free customer loyalty

Old American offers standard homeowners insurance protection like dwelling, personal property, and liability coverage to repair and replace your house and possessions. They also provide useful add-ons and discounts to expand or reduce costs.

Old American Insurance Reviews: The Bottom Line

Old American Insurance Company has built a reputation for affordable rates and reasonable customer service since its 1939 founding. While lagging top insurers in financial strength ratings, they still offer solid coverage options for many homeowners, renters, and auto insurance buyers.

It’s important to shop multiple insurers to find the right fit based on your budget, risk factors, and claims handling preferences. But overall, Old American represents a viable choice for common insurance needs in many states. Just be sure to get multiple quotes to confirm their pricing remains competitive.

Consider reviewing Old American’s policy options, ratings, and customer feedback closely against competing insurers. This will determine if they are positioned to provide the experience and protection you need as a policyholder. With smart shopping, Old American can be a cost-effective choice to insure your home or vehicle.