American Modern Insurance serves more than one million clients worldwide and is licensed in over 50 states. In 2021, American Modern Insurance became a member of the Munich Re Group, an international business with extensive experience both in the insurance and reinsurance sectors. The company now has 50 locations across the globe and it's still among the largest 100 companies in the world. American Modern Insurance prides itself on offering "the best in traditional insurance products combined with cutting-edge technology".
This insurance company offers a wide range of property insurance, health insurance, disability insurance, car insurance, home owner's insurance and homeowner's insurance. They also have a number of specialty products as well. Two of their most popular products are casualty insurance and senior term life. Because of the success of American Modern Insurance and its partnership with Munich Re, the casualty insurance companies sell more in the U.S. and Europe than any other insurance companies.
Casualty insurance companies make money by making "risk-specific" insurance claims against "risk-free" insured parties. There are many different ways that this can happen, such as auto accidents, acts of nature, fires, floods and theft. For example, if a person were to get into a vehicle accident caused by another driver, the insurance company could file a claim against the insured party's mobile home. The insurance company would then assess the claim amount, take into consideration the policy coverage, the damage to the mobile home and the policy limit, and subtract any deductible paid by the insured party.
The second type of insurance product offered by American Modern Insurance is the senior term life insurance. This product is similar to its first cousin, senior term life, only it does not limit the age of the insured party. This means there is no maximum age to purchase an insurance policy. Senior term life offers all of the benefits of senior term life plus the additional benefit of tax-deferred payments. With these added benefits, more seniors are using this unique product line to build their modern American life.
Many mobile home finance businesses are offering American Modern Insurance products as well. Some of these companies may not be offering this insurance because they are strictly cash-based, meaning they require an upfront investment to pay for an insurance policy. Some companies may simply be promoting these policies because they are one of the "big boys" in the primary insurance industry. They may have more volume and a recognizable name in the mobile home industry, but whether that's truly the best reason for offering American Modern Insurance is up for debate.
Whatever the reason, it's clear there are a lot of reasons why American Modern Insurance has become so popular with the first companies. First of all, American Modern Insurance products do what most other insurance policies don't; they offer flexibility. That's important when you're talking about mobile home finance business. You want to make sure your investors can live totally off of their mobile homes; it's important to understand the risk inherent in such an investment, but a good American, modern insurance policy will allow that growth.
When looking at American, modern insurance, you also want to look at the secondary market. The secondary market is just as lucrative as the primary market, but you have to be careful because there are some shady people out there who may be offering you poor quality policies in order to make a quick buck. For the most part, however, the secondary market is where you can get really cheap policies from some of the top companies out there.
So, American, modern insurance products are great. They've done great things for consumers for decades. Now, with all of this competition, these companies are working hard to stay on top of their competitors. It helps them make better products and it helps keep rates down, which is why you should take a serious look at some of these companies today. If you want to learn more about American, modern insurance products, talk to a financial consultant.