Is Amica Good for Car Insurance?
Last Updated on October 15, 2023
With the vast number of insurance companies, most of whom seemingly spend millions of dollars advertising to get your attention, it can be easy to forget about Amica. How good is Amica when it comes to auto insurance?
Key Takeaways:
- Amica Mutual Insurance Company is a mutual insurance company that has sold auto, homeowners, personal umbrella insurance, and some other specialized policies since 1907.
- Amica generally has competitive rates with major insurance companies. It can be more competitive for people with bad credit but a good driving history than many larger insurance companies.
- Amica focuses on delivering excellent customer service and consistently receives awards and top honors for its claims and customer service.
- Amica offers many of the most common discounts and coverage options that other insurance companies have and some unique perks such as rewards. Still, its list of discounts and coverages isn’t quite as extensive as some other companies.
What Is Amica?
Amica’s full name is Amica Mutual Insurance Company. The mutual part of its name is not uncommon with insurance companies, but it’s still nice to see. Mutual insurance companies are owned entirely by their customers or policyholders. A portion of a mutual company’s profits each year is either paid back directly to its policyholders or applied to future policies to help reduce premiums.
Amica has its roots in Rhode Island and was founded in 1907, making it the oldest mutual insurance company that sells auto insurance. Since then, Amica has expanded to also offer homeowners insurance (including condo and renters), personal umbrella insurance, as well as some other specialized policies such as weddings and some events.
Amica is licensed in 49 states, with the one exception being Hawaii. However, Amica operates more like GEICO than any other insurance company. Amica has no local agents and operates solely through its headquarters in Rhode Island. It’s 3,000+ employees who handle everything from quoting questions to policy processing and claims.
You can get a quote online, and Amica also has an online portal to pay your bills and look up policy information.
How Are Amica’s Auto Insurance Rates?
Amica generally has competitive rates with major insurance companies. It might not be consistently rated to have the lowest rates, but they are usually competitive with other standard auto insurance companies.
Many factors determine somebody’s car insurance rates, such as age, location, gender, driving history, type of vehicle, coverage selections, and credit score.
Some people will see ridiculous rates with Amica, just as some people will see ridiculous rates with every insurance company. Generally speaking, Amica is just as competitive across the nation as the other larger insurance companies.
In fact, Amica can be more competitive for people with bad credit but a good driving history than many of the larger insurance companies.
How Is Amica With Claims and Customer Service?
Rather than striving to always be the cheapest auto insurance company for everyone, Amica puts a lot of its focus into delivering excellent customer service. In fact, it consistently receives awards and top honors for its claims and customer service.
Amica prides itself on always having an agent available for you to easily reach and answer questions. They also try to update you frequently during a claim, which can help put your mind at ease knowing that your claim is being worked on. When it comes to the claims check, many Amica customers report receiving an amount that was more than they expected.
Of course, Amica doesn’t pay more money in claims than what is reasonable. They won’t pay $50,000 in claim money for a totaled 2011 Honda Civic.
It’s nice to have an insurance company you don’t have to negotiate with to get a better check than what they originally wrote and who doesn’t always fight tooth and nail for every cent.
One of Amica’s main goals is to have happy and satisfied customers, and they do this by having good customer service.
However, every insurance company in the United States has some negative reviews and unhappy customers. It’s the nature of insurance and claims to have situations where some people are unsatisfied with the process or the final claims check amount.
How Is Amica’s Financial Stability?
Amica Mutual Insurance Company has a long-standing history of financial stability. As a mutual insurance company, it is owned by its policyholders rather than shareholders, which means that its profits are reinvested back into the company or paid out to policyholders in the form of dividends. This structure helps ensure that the company focuses on providing quality coverage and service to its policyholders rather than just maximizing profits for shareholders.
Amica has consistently received high ratings from independent credit ratings agencies such as A.M. Best and Standard & Poor’s, which assess the financial strength and stability of insurance companies. As of 2023, Amica has an A+ (Superior) rating from A.M. Best and an A+ (Strong) rating from Standard & Poor’s, which indicate a strong ability to meet policyholder obligations and weather financial challenges.
Additionally, Amica has a solid financial reserve, which helps ensure that the company can cover unexpected claims or losses. According to its most recent annual report, Amica had over $7 billion in policyholder surplus, which is the excess of assets over liabilities. This surplus provides a cushion that can be used to pay claims or cover unexpected losses without affecting policyholders.
Which Discounts & Coverages Does Amica Offer?
Amica offers many of the most common discounts and coverages that other insurance companies have, although their list isn’t quite as extensive as others.
For example, they offer the most regular discounts of multi-policy discounts, multi-vehicle discounts, defensive driver discounts, vehicle safety features discounts, good student discounts, and payment discounts.
Examples of discounts not offered by Amica include paperless discounts, telematics, low mileage discounts, online or advanced quoting discounts, or military and association discounts.
Amica also offers many of the most popular additional coverages. Some of these include full glass coverage, which means you wouldn’t pay a deductible if you have a glass claim. Amica also has a solid roadside assistance program, which covers towing, fuel delivery, battery jumpstarts, winching, and other common roadside services. Additionally, Amica offers free lock replacement for lost keys, as well as free repairs of deployed airbags.
Amica’s feature coverage package is called the Platinum Choice Auto and also includes things such as rewards, increased rental car coverage, full glass coverage, and identity fraud protection.
How to Get a Quote from Amica
Getting a car insurance quote from Amica is pretty easy. You can do it online, over the phone, or through an independent agent. Here are the steps to get a quote online:
- Go to Amica’s website at www.amica.com.
- Click on the “Get a Quote” button located at the top of the homepage.
- Choose the type of insurance you want to get a quote for (auto, home, renters, etc.)
- Enter your ZIP code and click “Continue.”
- Fill in your personal information, including your name, address, and contact details.
- Enter the make and model of the car you want to insure, as well as its current mileage.
- Choose the coverage options you want and adjust the limits and deductibles to fit your needs.
- Review your quote and make any necessary changes.
- Click on the “Submit” button to complete the quote process.
Once you’ve submitted your quote, you’ll receive an estimate of the cost of your car insurance policy. You can then compare this quote with other insurance companies to see if Amica is the best option for you. If you have any questions about the quote process or need assistance, you can contact Amica’s customer service team. They’ll be happy to help you get the coverage you need.
Final Word on Amica
Amica Insurance has built an excellent reputation for outstanding customer service and claims service. It offers the most common discounts and coverage options, as well as some unique perks such as rewards.
If you don’t mind not having an actual agent or not having the full online capabilities of some of its larger competitors, it’s worth getting a quote from Amica to see how they stack up against the rest.
| Amica Mutual | |
|---|---|
| Company Address | 100 Amica Way Lincoln, RI 02865 |
| Phone Number | 1-800-242-6422 |
| Website URL | https://www.amica.com/ |
