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Last updated on June 9, 2015

Ameriprise Financial Review

Though Ameriprise auto insurance doesn't offer some discounts, they provide really solid vehicle coverage, along with some nice perks for Ameriprise clients.

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The Good

Lifetime Renewability for Ameriprise Financial clients

Being an Ameriprise Financial client entitles you to certain benefits, including Lifetime Renewability of your auto insurance, which means that no matter how many accidents you have, Ameriprise Financial will never cancel your policy. Although many auto insurance providers won’t penalize you too much for one accident, if you get into several, you’ll probably have to look for a new insurance company. That makes Ameriprise Financial’s Lifetime Renewability extremely valuable, and something that Ameriprise FInancial clients will be happy to have.

Excellent vehicle coverage

Ameriprise auto insurance comes with both collision and comprehensive coverage, so your car is protected from all sorts of damage, whether it be from an accident, fire, or vandalism. If the worst happens and your car is totaled, Ameriprise Financial’s GAP insurance will pay the difference between the value of your car and the balance remaining on your loan. If that car was less than one year old, Ameriprise Financial will pay to have it replaced with a brand-new version.

Stay up to date on the newest discounts

Periodically, Ameriprise Financial will review your auto insurance policy to see if you qualify for any additional discounts. This is great because you don’t have to worry about missing out on some valuable discounts, and you are always getting the best possible rate on your Ameriprise auto insurance policy.

Extensive online resources

Ameriprise Financial offers several online resources to help potential customers educate themselves about auto insurance, including FAQs, a blog, and a glossary of commonly used terms. For more in-depth explanations, there is a knowledge base full of detailed help articles available. These resources will be most useful to those who are looking to purchase their first insurance policy, and will probably not be a major deciding factor when selecting the best auto insurance, but it is still nice to see it offered.

The Bad

Limited mobile tools

Although Ameriprise Financial does have a mobile app, it has nothing to do with their auto insurance policies. Unless you are also interested in Ameriprise’s other services, you probably won’t find much use for it. Almost every other major insurance provider has an app where you can view your policy details at a minimum, and some even allow you to edit your policy, file a claim, and contact a local agent.

Common discounts missing

Ameriprise auto insurance rewards safe drivers, loyal customers, and those insuring multiple vehicles with some nice discounts, but there are a few common ways to save that are missing from Ameriprise Financial’s offerings. There are no discounts available for having a low annual mileage, and you won’t earn any additional savings by prepaying. There are still plenty of other ways to save with Ameriprise auto insurance, however, so these few missing discounts shouldn’t be a huge concern for most people.

The Details

Financial Strength

  • A.M. Best FSR Rating: A
  • A.M. Best ICR Rating: a-
  • Moody's Rating: A3
  • Standard & Poor's Rating: A

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