American Modern Insurance Prices and Review
Auto insurance is a must-have for all vehicles on the road today, even the classics that only occasionally see the light of day. Choosing coverage for these vehicles can be tough, however, as classic car values are sometimes hard to nail down. American Modern Car Insurance offers several coverage levels for classic vehicles, and various pricing levels, depending on how much your classic car is driven.
American Modern Car Insurance Overview
American Modern started as part of The Midland Company over 50 years ago. Its collector car coverage started in 1990, and today, the group is part of Munich Re, a German reinsurance company. American Modern offers a wide variety of coverage options for classic cars, as well as property, pets, and other motorized vehicles.
Pros and Cons
- Offers a huge range of coverage options
- Agreed value policies available
- Plans available with mileage-based pricing
- Some customers report extended waits for claim processing
- Reports of unexplained rate increases are more common than they should be
- Obtaining a policy on a car build in progress may be complicated
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How American Modern Car Insurance Works
American Modern Car Insurance works with regional agents/brokers to sell and service policies. You can use the company’s online search tool or call 866-884-6167 to locate the provider nearest you.
American Modern offers what is known as agreed value policies, which is a type of coverage where the car’s owner, the insurance agent, and insurance underwriters agree on a value. Once a number has been reached, the insurer issues a policy for that amount, and will pay out in the event of a total loss accident.
AMCI’s customers have the option to choose 1,000, 3,000, 6,000, or unlimited miles, depending on their needs, and the company offers various deductibles that range from $0 to $10,000.
American Modern Insurance Rates and Prices
American Modern does not offer sample rates without giving up personal information and contacting an agent. That said, it does offer several benefits and add-on coverage options:
- New classic car purchase coverage
- Pet injury coverage of up to $750
- Trip interruption coverage of up to $150 per night for lodging if your car is damaged more than 50 miles from your home
- Up to $75 per trip for towing
- Up to $2,000 for lost or stolen parts that you have purchased
Read more on the Best Classic Car Insurance Companies here.
Read more about the Best Classic Car Shipping Companies here.
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