About
What is an Admitted Insurance Company?
When purchasing insurance for your business, you might come across terms such as accepted company, accepted market, or accepted paper. Additionally, you might encounter terms like unaccepted, excess and surplus, or non-standard market.
If you ask your agent, it is important to know that API is an Admitted Company operating in all states. An Admitted carrier is regulated in terms of solvency, coverage, rates, and policy in all respects.
Admitted (Standard) Company
Premiums for coverage are increasing on a more regulated basis. There is a greater focus on regulating the cancellation and non-renewal of coverage. Performance claims are held to higher standards in terms of coverage and language policies. The State Fund for Guaranty Insurance is closely regulated and backed by the state.
Non-Admitted (Excess and Surplus)
Premium increases are subject to fewer regulations. There are fewer regulations regarding potential non-renewal and cancellation of coverage. Claims processing is typically prolonged. The policy allows for the inclusion of custom exclusionary language at any point. It is possible that the insurance may not be supported by the state insurance Guaranty Fund. The company may not be able to decline coverage after a quote has been provided.
Commercial Liability Insurance
Vital insurance protection to safeguard your enterprise.
Commercial Property Insurance
Protect your business assets and prevent unforeseen damages.
Inland Marine Insurance Coverage
Enhanced safeguarding for specific assets, irrespective of their whereabouts.
Umbrella Insurance Coverage
Expand the responsibility coverage of your current policies.
The API Approach
Financial Strength
Licensed for Admitted Underwriting
California, Delaware, Louisiana, Mississippi, Pennsylvania,
API’s program of reinsurance coverage is financially supported, enabling us to promptly pay all claims in the event of a single loss, such as an extreme weather event. We thoroughly assess the financial soundness of the reinsurance companies that serve as our financial backstop, ensuring they are well-prepared to respond when necessary.
Our Coverage Areas
REINSURANCE AND FINANCIAL STRENGTH:
The insurance sector, a fundamental principle in its own right, is essentially about the transfer of risk. It works by using an API-like approach to appropriate an insurer that achieves appropriate spread of risks. Reinsurance is a term used to describe this industry.
API provides policyholders with enhanced security when handling claims related to a significant individual event or a widespread insured loss. Demotech and AM Best, companies that assess financial strength and size, evaluate the top tiers. All reinsurance companies with multi-billion dollar capital are conglomerates supporting API.
The reinsurance expenses API assists in providing long-term policyholders with benefits. The API allocates the purchase of reinsurance across a panel of top-quality reinsurers, ensuring that no reinsurer accounts for more than 25% of the total reinsurance coverage.
Further details can be provided to agents regarding the ratings of many reinsurers, such as Best AM and Demotech, as well as the symbols used to represent their brand names, through their API for information application.
API upholds a Demotech “A” Exceptional Financial
Your Future
Established on July 1, 1956, API, originally known as the First of Georgia Fire & Casualty Company, has a rich history of catering to the insurance requirements of individuals, families, and enterprises. In 1995, the organization relocated its main office to New Jersey.
Renamed the American Property Insurance Company, API has helped communities rebound to the tune of approximately $500.,000,000 in claims payments during its 63 years in business.
2014
In response to the insurance needs of New Jersey businesses, API began underwriting New Jersey insurance coverages in the Property, General Liability and Umbrella lines of business for New Jersey business owners.
2015.
American Property Insurance Company expanded its insurance underwriting to the state of South Carolina to help address a lack of commercial property insurance capacity from existing South Carolina admitted insurance carriers.
2016
The Company expanded its underwriting operations to the state of Florida to bring a new commercial underwriting insurer to Florida’s business owners in conjunction with one of the leading independent insurance agency associations.
2017
API demonstrated industry leading average claims response time in the aftermath of Hurricane Irma.
2018
American Property Insurance Company expanded underwriting operations to 9 additional states in the Mid-Atlantic and Midwest U.S.
American Property Insurance Agents
Our agents have been carefully chosen by API to provide the best service and advice for you and your business’s insurance needs.
Our insurance agents provide professional insurance advice at prices equal to or better than other insurers. Many of API’s insurance agents have served our clients for 15. years or longer.
It is our responsibility, as American Property Insurance Company, to comprehend your business. Does your present business insurance agent or online insurance provider have sufficient understanding of your business to adequately insure it?
We’re here to help.
If you have experienced a loss, our goal is to get you back on your feet. You can rest assured knowing that we have a team of experienced claims professionals who are ready to guide you through every step of the claims process.
To report a Claim:
The page containing your policy declaration includes agency contact details. You accelerate the claims procedure, and your representative will offer support and aid. Get in touch with your nearby autonomous agent.
Our Foundation
YOUR BUSINESS IS TRULY ONE OF A KIND. SHOULDN’T YOU HAVE BUSINESS INSURANCE COVERAGE TO FIT YOUR NEEDS?
Our Agents
Your business is truly one of a kind. Shouldn’t you have business insurance coverage to fit your needs?
Local towns and communities rely on small business owners, who play a crucial part in the national economy of the United States and serve as the foundation of these areas.
With over half a century of experience, Today’s American Property Insurance Company appreciates the individualized and personalized service provided by API’s independent insurance agents.
Insurance for Your Business
Our API is being developed to address the insurance requirements for your business. We believe that your business deserves custom-designed insurance. Your business has specific insurance coverage needs. We believe that each business is unique as its owners, and our agents believe in API.
Why API?
Major insurance corporations and internet insurance providers employ a universal approach to offer you a quote for business insurance.
The CPP Policy Package from American Property Insurance provides you with a customizable insurance option to suit the specific needs of your operations business. In most cases, it offers a business insurance coverage that is lower in annual premium compared to your current policy.
Coverage
Restoring your business to its normal operations after a loss is our top concern. If your business experiences a loss or accident, API’s proficient services for claims adjustment and settlement will be readily available, ensuring a speedy and equitable resolution.
The API Advantage
If you are interested in saving money on a basic insurance policy or a policy that is tailored to your specific needs, it is advisable to consult your insurance agent. This is especially important for business owners who prefer to conduct thorough research before making a decision.
15.
Million in Liability Coverage Available
500.
Million Dollars of Claims Paid
Operating with Admitted Paper
Arizona, New Jersey, Colorado, Georgia, South Carolina, Florida, Alabama, Kansas, Maryland, Texas, Utah, Virginia, Missouri, North Carolina,
How We Work
Our company is small enough to value and know each of our policyholders while being large enough to meet your business needs.
This type of customized business insurance service and convenience are more costly, consider it for business owners. When you are insured with American Property Insurance Company, you are not thinking about the expenses.
The reduction of API’s operating expenses is noteworthy. API uses outdated dinosaur systems instead of utilizing the advanced cloud-based information technology that is available to the insurance industry today.
Our American Property Insurance Company allows business owners to approach us with a fresh and new perspective, bringing affordable premium prices and top-quality coverage. We are dedicated to providing security and efficiency in our approach.
Affordable Insurance Premiums
Make a Premium Payment
Payment can be done through the following methods.
01. By Mail
Please write the policy number on the check. Please make the check payable to 07724 NJ, Eatontown 102, Ste. West Way Industrial 4. A hard copy of the check can be sent.
02. Credit Card;
E-Payments – One-Time / Single Payment;
New Recurring / AutoPay Signup
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Make a Payment
03. For EXISTING Recurring Payment Users Only
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TD Bank Recurring Payment