Amica Insurance Review
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Amica Insurance is constantly honored as one of the top auto insurance companies in terms of customer satisfaction by J.D. Power and Associates.
Same goes for auto claims satisfaction – they constantly top the charts. Oh, and homeowners insurance satisfaction too.
That says a lot, especially these days, as customer service has seemingly gone out the window in virtually every industry.
Nowadays, it’s all about automated systems, long-distance outsourced customer service (if you can even call it that), and email-only responses.
This doesn’t mean every other insurance company is completely lacking when it comes to customer service, it’s just that Amica Insurance makes it their number one goal…and seem to be rather successful in their efforts if all those accolades are any indication.
Let’s learn more about this highly praised insurer Amica and how they achieve their success.
Who Is Amica Insurance?
- Formally known as Amica Mutual Insurance Company
- Based out of Lincoln, RI
- Established all the way back in 1907 (the oldest mutual auto insurer in the U.S.)
- They also have a variety of subsidiaries by different names
Depending on where you live, you may have never even heard of Amica Insurance. After all, they aren’t running nationwide commercials like the big guys (State Farm, Allstate, Geico).
But they’re no pushover either – at last glance the company has over $5 billion in assets and employs more than 3,000 people in 44 offices nationwide. When we’re talking billions of dollars, it’s hard to act like they’re small potatoes.
They also have some 1.6 million policies in force, which again is a big number.
Similar to many other insurance companies, they are made up of a number of different companies, though marketed simply as “Amica Insurance.”
Here is a list and brief description of each company that operates under their brand name:
Amica Mutual Insurance Company – This is the oldest mutual car insurance company in the U.S., established in 1907. They offer home insurance, auto, marine and excess liability, often referred to as personal umbrella insurance.
Amica Life Insurance Company – Established in 1968, and active in all states but Hawaii, ALIC directly offers life insurance and annuity products.
Amica Lloyd’s of Texas – Established in 1997 and operating in TX, ALT is a wholly owned subsidiary of Amica Mutual Insurance Company, and offers property insurance in…you guessed it…Texas.
Amica Property & Casualty Insurance Company, Inc. – The newest family member, established in 2005, APCIC is also a wholly owned subsidiary of Amica Mutual, and provides auto insurance in the state of New Jersey.
Amica General Agency – AGA was incorporated in 1987 and is designed to help Amica place unique or special insurance needs. A general insurance agency can be thought of as an agent or broker for Amica to allow them to sell insurance for other companies. This allows Amica to sell many different types of insurance they don’t “write” under any other company in the family.
Amica General Insurance Agency of California – Similar to AGA above, this group, established in 1995, is a wholly owned subsidiary of Amica Mutual and assists with special and/or unique insurance needs in California and Nevada.
What Amica Insurance Offers
- They are a direct writer of insurance
- Including auto, home, personal excess liability, and marine coverage
- But also sell retirement products
- Along with small business and wedding/event insurance coverage
First things first – Amica says it doesn’t use insurance agent to sell its products. It’s a direct writer of insurance that relies on Amica representatives, aka individuals who work in a call center.
That’s not necessarily a bad thing because there’s no middleman, who may or may not be up to snuff on company policy and quality. Or who won’t call you back if you need something urgent.
Like most insurers their size, they offer a variety of different type of insurance, most notably auto insurance. They constantly get top rating for their auto offering, including both claims satisfaction and overall customer satisfaction.
They also write homeowners insurance, including renters insurance and condo insurance.
If you’re looking for something a little outside the box they might be able to help you. Amica offers motorcycle insurance and marine insurance too, including coverage for boats and yachts, whether on land or water.
And they have discounts on their marine coverage for things like a built-in fire extinguisher, a diesel engine, and for completing an approved boating safety course.
What Type of Driver Does Amica Target?
- Amica seems to be looking for only the safest drivers
- A class known as “preferred auto insurance”
- Because they are the least likely to get in an accident or file a claim
- As such Amica believes they can offer these drivers a deal versus their existing carrier
Aside from running a call center, they also seem to rely upon direct mail to get the word out.
A member of our staff received a letter from Amica telling them they were only “1 in 25 drivers” who were selected because they were a “responsible driver.”
And that they could be rewarded in the way of a reduction in their auto insurance rate.
They even listed a table of competitors who were charging new Amica customers more before they switched.
Amica claimed in this letter that over 89% of new policyholders reported saving $200 or more. It’s unclear if that’s annually or over six months, but it’s still money.
Of course, they only listed the likes of Allstate, Geico, Liberty Mutual, and State Farm, all of which aren’t known to be the cheapest on the block.
And there’s certainly a bias when you only consider the folks who switched insurers. Why else would they switch if they weren’t saving a considerable amount of money to do so?
It’s a common tactic employed by insurers to make things appear as rosy as possible.
Those who didn’t switch might have received quotes that were higher than their current policy premium, so take it with a grain of salt.
Amica Financial Strength Ratings
- Aside from a superior financing strength rating from A.M. Best
- They also consistently top the J.D. Power rankings
- For customer service and claims
- So they shouldn’t disappoint on that front
When it comes to financial strength, Amica is financially stable across the board. This is important to us, as consumers, because we have to be certain our insurance company can pay out insurance claims.
Amica Mutual Insurance Company: A+ (Superior)
Amica Property & Casualty: A+ (Superior)
Amica Lloyd’s of Texas: A+ (Superior)
Amica Life Insurance Company: A+ (Superior)
The two “General Agencies” are not rated by A.M. Best.
Tip: Always ask for a company’s A.M. Best rating when you compare car insurance and are offered an insurance quote.
Amica also has a solid claim center website that allows you to report and track insurance claims, or upload documents.
You can even report a claim if you’re not an Amica customer if it involves an Amica customer, which is a really cool feature.
That might be one of the many reasons why people like them so much compared to other car insurance companies.
Amica Insurance Discounts
- You can save up to 25% if you insure more than one vehicle
- Or 15% if you bundle home and auto
- They also offer loyalty discounts
- Along with anti-theft and defensive driver discounts
If you insure more than one car with Amica, you might be entitled to up to 25% off your policy premium.
Additionally, if you get an auto and home insurance policy from Amica, you can save up to 15%. And they actually provide the home insurance, unlike some other companies that simply resell it.
They also offer flexible payment options, including the ability to pay with a credit card, which is always nice.
In conclusion, Amica Insurance prides itself on customer service and claims satisfaction, so they may be the company for you if your top priority is satisfaction. They come highly recommended for those reasons.
Of course, the hope is that you’ll never need to actually use your insurance or deal with a claim. But since you’re paying for it, it’s nice to know they’ll be there for you in that unfortunate event.
However, Amica Insurance may not necessarily be the lowest priced option available to you, so be sure to shop around and call or visit a local independent agent to shop your insurance premium in order to get the coverage you need at the price you want.
It might be possible to get the same coverage and very similar customer service elsewhere at an even lower price.