Overview of Ameriprise Car Insurance
If you don’t have a Costco membership, you might not know much about Ameriprise Auto Insurance. The company isn’t a household name, largely because it’s generally marketed in partnership with other companies (like Costco and Ford). These affiliation relationships give Ameriprise access to a targeted population without having to invest in a lot of advertising.
How Does Ameriprise Car Insurance Rate?
Financial Strength Rating
A Best’s Financial Strength Rating opinion addresses the relative ability of an insurer to meet its ongoing insurance obligations. It is not a warranty of a company’s financial strength and ability to meet its obligations to policyholders. View our Important Notice: Best’s Credit Ratings for a disclaimer notice and complete details at http://www.ambest.com/ratings/notice.
Financial Strength is rated on a scale of D (poor) to A+ (superior). A rating notch of either a second “+” or a “-“ indicates the gradation of financial strength within the category. We can’t guarantee that the subsidiary of Ameriprise Insurance rated here is the subsidiary that will underwrite your insurance policy. Check with your insurance agent and review A.M. Best’s Financial Strength Rating Guide for more information.
Best’s Credit Ratings™ are under continuous review and subject to change and/or affirmation. For the latest Best’s Credit Ratings™ and Best’s Credit Reports which include Best’s Credit Ratings™), visit the A.M. Best website at http://www.ambest.com. See Guide to Best’s Credit Ratings™ for explanation of use and charges.
Best’s Credit Ratings™ reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of MoneyGeek.com or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best’s Credit Ratings™. Best’s Credit Ratings™ are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.
Source A.M. Best
Effective Date: November 2016
Customer Complaint Ratio
The National Association of Insurance Commissioners (NAIC) collects complaint information from state insurance regulators. The national median complaint ratio is 1. A score of less than 1 means a company has a lower than average number of complaints, while a score higher than 1 means it has more than average. The Ameriprise Insurance Company subsidiary rated here may not be the subsidiary that underwrites your insurance policy. Check with your insurance agent for more information.
Last Updated: September 2016
Pros and Cons of Ameriprise Car Insurance
- Ameriprise was ranked the #1 insurer in California in J.D. Power’s 2016 auto insurance customer satisfaction survey.
- The company offers several discounts to help reduce your premium, and a number of extras are included in the policy if you’re affiliated with one of their partners.
- The five-month payment plan means that you get one month during your policy in which no premium payment is due.
- There isn’t a mobile app for auto insurance, just an app for the parent company, Ameriprise Financial.
- The online quoting system has trouble completing and presenting a quote, and after you enter all of your information, it’s likely that you’ll still be directed to call the service center in order to even see what your tentative insurance rate will be.
- When quoting your auto rate, Ameriprise asks for information on tickets or accidents in the past six years, while other companies usually ask about incidents within the past three to five years.
Ameriprise’s Car Insurance Coverage
Ameriprise has all the standard coverage options one would expect from an auto insurer, along with a nice selection of extras. Some of these are provided along with standard coverage at no extra charge, while others are only offered to members of Ameriprise’s affiliate programs.
In addition to the standard coverage options, in many states Ameriprise offers extra features that come standard with each policy, like the glass repair deductible waiver if you carry comprehensive coverage.
Ameriprise makes sure your bodily injury coverage meets your state’s requirements, and explains in detail what is covered – including injury, sickness and death—if resulting from an accident caused by the policyholder.
The property damage coverage goes from the state mandated minimum up to hundreds of thousands of dollars. Ameriprise explains what incidents are covered and what levels of coverage are appropriate for the policy.
Comprehensive coverage includes a glass repair deductible waiver and stolen key coverage, items rarely covered in policies from other insurance carriers.
You can choose collision insurance coverage based on the value of your car and what it will cost to repair it.
Ameriprise will provide uninsured and underinsured motorist coverage equal to or less than your bodily injury liability limits, and depending on the state, may offer UM property damage coverage.
Referred to by different names depending upon which state you’re in, this coverage not only pays up to the policy limit for medical care required for anyone in your car due to an accident, but also covers funeral costs if needed, something that some other carriers will not do.
Ameriprise offers a number of additional coverage options for your auto policy. Some come at no extra cost if you’re affiliated with one of Ameriprise’s partners, and some are add-ons that will impact your premium. Check with the company to see which ones you’re eligible for.
Towing and roadside assistance can be added to many policies, but if you are a Costco member and get Ameriprise auto insurance, the coverage may be included with your policy at no extra cost.
Your policy will pay for a rental car while your auto is in the shop following a covered incident, but this coverage doesn’t come automatically with your insurance. You will have to request it.
When you buy a new car, it loses value as soon as it leaves the lot. If it is totaled, the claim check may not pay enough to replace the vehicle. With this optional coverage, which applies during the first year or the first 15,000 miles, you can replace your car with a new one of the same make and model at a cost of up to 110 percent of the manufacturer’s suggested retail price (MSRP).
GAP insurance is designed to cover the difference between the value of the car and the amount of the loan in the case that your car is totaled and the actual cash value claim payment will not match the amount still owed on the vehicle.
Accident forgiveness varies from company to company. At Ameriprise, if you have been a policyholder for more than three years, your first at-fault accident will not result in the loss of your safe driving history discount. You don’t have to pay extra for this coverage.
If you have an accident more than 100 miles from home and your car has to be towed to a garage, Ameriprise covers your incidental travel or lodging costs.
Available Discounts on Ameriprise Car Insurance
Ameriprise offers many of the types of discounts that you would expect from a major, established auto insurance company, despite the carrier’s relatively short existence. Not all of these discounts are applicable in all states, and availability should be verified with an agent.
|Type of Discount||Description|
|Safe driving discount||This savings applies if you have three years of accident-free driving.|
|Accident free discount||A clean driving record for the past six years earns an additional discount.|
|Defensive driver discount||If you have taken a state-recognized defensive driving course (not in conjunction with driver’s ed or mandated by the court) you can get this discount.|
|Vehicle safety features discount||Safety features like anti -lock brakes and airbags will help lower your premium.|
|Garaging discount||In some areas, you can get a discount if you park your car inside during the night, rather than out on the street.|
|Good student discount||Full-time students under the age of 25 can get a discount for maintaining a ‘B’ average.|
|Student away discount||If your policy includes a full-time student under the age of 25 who attends school more than 100 miles away from home and does not have a car with them, you may receive a discount.|
|Education discount||A four-year degree or higher is rewarded with savings.|
|Multi-vehicle discount||If your auto policy has two or more vehicles on it, this will result in an extra savings.|
|Loyalty discount||Also known as a bundling or multi-policy discount, your auto policy premium will be lower if you have a property policy or an umbrella policy with Ameriprise, and lower yet if you have all three types of insurance with the company.|
|Tenure discount||If you stay with Ameriprise for three years, you will earn a tenure discount, and will see additional savings at other anniversaries the longer you remain with the company.|
How to Make a Car Insurance Claim with Ameriprise
If you have a claim to report that doesn’t involve an injury, you can make it online. You will need to have an online account set up first. If your claim involves an injury, you must call in rather than filing the claim online. This also applies to glass claims and claims involving theft. Ameriprise insurance doesn’t have a mobile app, so you can’t file that way.