UPDATED: Mar 13, 2020
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Is Amica On Your List of Potential Auto Insurance Companies?
Amica was founded all the way back in 1907, which currently gives this company the regal distinction of “oldest mutual automobile insurer in the US”. They have a long history in the state of Rhode Island and their corporate office is still located there to this day. The Amica family of insurance providers includes subsidiaries which manage Life, Property, and Casualty Insurance. They are one of the highest-ranked companies in the automotive insurance industry when it comes to financial strength and customer service.
Amica Insurance Review
Amica is not afraid to take pride in their record for high rankings, as the chart below demonstrates. The top credit rating agencies, including A.M. Best, give Amica an A++ (or “superior”) rating. They also have many positive reports of customer service excellence from agencies like JD Power and the BBB.
|AM Best Financial Strength (Jan. 2016)||A++|
|JD Power & Associates Overall Rating (2013)||4 / 5 (Above Average)|
|Complaint Ratio per Vehicle (NJ, 2012)||0 / 43,710 (Excellent)|
|NAIC Complaint Index (2012)||0.42 (Better than Average)|
|Better Business Bureau (2016)||A+|
Amica Insurance Discounts
Many automotive insurance companies like to keep their specific discount rates to themselves. Some of this has to do with the fact that rates will vary across state lines. Other companies may not wish to mislead customers by advertising one rate and then offering a different one once the official policy is drafted. Amica isn’t advertising specific discount numbers on their website right now, but from past data, we can get an estimate of the types and amounts of discounts you may expect from them:
|Type of Discount||Max Percentage Discount*|
|Low Annual Mileage Driven||10%|
|Mature Drivers Course||5%|
(*Data provided by the California Department of Insurance 2013 Automobile Premium Survey)
Amica Auto Insurance Options
As a fully comprehensive auto coverage company, you can get the bare minimum you need to stay legal, or you can opt to add things like Collision or Comprehensive to your policy. Of course, if you want the most thorough coverage, you can enjoy the following additional benefits with Amica’s Platinum Choice plan:
- Good Driver Rewards
- Prestige Rental Coverage
- Full Glass Coverage
- Identity Fraud Monitoring
But even if you settle for a more modest policy, you can still enjoy the following benefits which may be difficult to find from other insurers:
- No depreciation deduction for a brand new vehicle totaled within your first year of ownership
- No Deductible for lock replacement services
- No deductible for glass repair services (excludes glass replacement)
- No Deductible for repairing or replacing a deployed airbag
- Loss earnings reimbursement for court appearances
- $1,000 bail bonds
- Dividend policies which may result in significant discounts toward your premium
Comparing Amica Insurance Quotes
Amica, like all insurance companies, does their best to offer competitive quotes while still turning enough of a profit to keep their business going strong. Below, you can find estimates for average monthly premiums paid by different demographics of Amica customers:
From the chart above, it looks as though there are some pretty significant discounts that couples and families might be eligible for when compared to single drivers or married drivers who don’t bundle their policy. The most expensive rates were for younger drivers of college age. This probably has something to do with the fact that your risk of getting into an accident remains high usually until the age of 25 or so. For auto insurance providers, that’s usually the key age at which accidents – and monthly premiums for adult drivers – begin to decrease.
Pros and Cons of Amica Insurance
|Good auto insurance coverage at an affordable premium (for most drivers)||Some policyholders complain about premium increases|
|Positive reviews about Amica’s claims settlement process||Some customer complaints about policies getting canceled without sufficient notice by Amica|
It seems like Amica has a lot to offer drivers who are looking for good customer service, a financially strong company, and additional coverage benefits not offered by other providers. However, based on the data we’ve gathered, it appears as though Amica does the best business for motorists who are in the “preferred-risk” group (homeowners, drivers with good credit, people with clean driving records, etc.). Outside of this preferred class of customer, business negotiations with Amica may become difficult if their resources are already being directed to preferred clients.
The best way to know whether Amica – or any other automotive insurance company, for that matter – can give you the coverage you need is to compare rates online. Go ahead and enter your zip code below, and we’ll help you find the best deal.Corporate Headquarters
100 Amica Way
Lincoln, RI 02865-1167