A (Excellent) OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of American Family Mutual Insurance Company, S.I. (American Family) (Madison, WI) and its affiliates.

American Family Insurance Rating

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The average cost of homeowners insurance in the U.S. is about $1,820 a year, but rates vary by state. Sarah Schlichter is a NerdWallet authority on homeowners, renters and pet insurance.

An insurance company rating is a predictive score made by a rating and assessment agency to predict the future ability of an insurance company to meet financial obligations.

Companies with the very best ratings include Geico, State Farm, Mass Mutual and New York Life; they all have the highest possible rating of A++. We've compared the A.M. Best ratings for several top insurance companies below.

Top 5 Family Life Insurance Companies

• Fidelity: Our top pick.
• State Farm: Our pick for customer satisfaction.
• Transamerica: Our pick for fast claims.
• Northwestern Mutual: Our pick for a personalized experience.
• Prudential: Our pick for financial strength.

List of Possible Ratings

Homeowners insurance policies generally cover destruction and damage to a residence's interior and exterior, the loss or theft of possessions, and personal liability for harm to others. Three basic levels of coverage exist: actual cash value, replacement cost, and extended replacement cost/value.

Is Homeowners Insurance Required? There's no law that requires home insurance. But mortgage lenders do require you to get home insurance coverage before they will agree to finance your home purchase.

The cost of insurance (COI) is an integral component of life insurance policies, particularly variable and universal life insurance. COI charges encompass monthly expenses for mortality, administration, and other costs incurred by the life insurance company.

What Are The Top Life Insurance Companies In India?