- Amica currently ranks fourth for auto and home satisfaction in J.D. Powers’ 2021 Claims Satisfaction studies
- A+ (Superior) rating with AM Best, indicating that Amica has historically been able to pay out on claims
- Some policies offer the option of receiving an annual dividend back of up to 20% of your premium
Amica Mutual Insurance may not be as widely-known as Geico or State Farm, but the company has a long-standing record of supplying a range of highly-rated insurance products including home, life, and auto to customers throughout the U.S. Founded in 1907 in Providence, R.I., it is the oldest mutual insurer of autos in the U.S.
Amica Insurance is ranked well by J.D. Power for its excellent customer satisfaction for both home and auto, and policyowners may benefit further by earning a potential dividend each year that returns a percentage of premiums back to the policyholders.
Where Amica primarily exhibits limitations is with its website, which is a bit sparse and does not feature any extras for insurance information or policy management features. The same holds true of the company’s app, which is certainly functional for basic needs, but in some cases doesn’t deliver compared to other providers. For example, policyowners can’t pay their bill via a credit card using the app.
Amica Insurance Overview
|J.D. Power Customer Satisfaction Score J.D. Power scores are based on surveys for customer satisfaction and product quality.||AM Best Financial Strength AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.|
|Pin Auto insurance||895/1,000||A+ (Superior)|
|Pin Home insurance||894/1,000||A+ (Superior)|
|Pin Life insurance||N/A||A+ (Superior)|
Amica Auto Insurance
Amica auto insurance is highly rated by consumer watchdog agencies, such as J.D. Power, earning a fourth place spot on the 2021 Auto Claims Satisfaction study. Amica offers standard auto coverage, plus less common options like full glass coverage, gap insurance, and rental reimbursement. The company also has accident forgiveness insurance that may help reduce deductibles or waive accident surcharges.
One reason Amica auto insurance stands out from its competitors is that it is a mutual company. How does that impact policyholders? It means they can choose a policy that may issue a dividend worth up to 20% of premium costs back annually. Policyholders may choose to receive dividends in the form of a check in the mail, opt for an electronic funds transfer, or apply the dividend to future premiums.
For high-end insurance, Amica has Platinum Choice Auto, which also includes glass repair with no deductible, credit monitoring, new car replacement coverage, and prestige rental coverage.
Strengths: Dividend policies, Platinum Choice coverage, good range of discounts
Restrictions: May not be the best choice for those who wish to handle their insurance business online or via an app; also may not be a good choice for high-risk drivers or those needing SR-22 coverage, which Amica does not offer. Auto insurance is not offered in all states.
Discounts: Loyalty, homeownership, bundling, multi-car, student driver, good student, accident-free, defensive driver, anti-theft, passive restraints, adaptive headlights, forward-collision warning, paid in full, autopay, and paperless.
Amica Home Insurance
Amica Home Insurance occupies the fourth slot in the 2021 J.D. Power Property Claim Satisfaction Study. Amica home insurance customers can purchase standard policies, which include dwelling, personal property and liability coverage, other structures, and loss of use, which covers expenses if the home can’t be lived in while it’s being repaired.
Optional riders include identity fraud coverage, valuable items coverage, and extended dwelling insurance, which kicks in with an additional 30% if necessary repairs exceed standard policy coverage limits. For those running a business out of their home, Amica home insurance offers coverage that can protect business equipment and provide added liability.
For top-of-the-line coverage, Amica’s Platinum Choice Home package includes all the basics, plus 30% higher dwelling coverage compared to a standard policy, water backup/sump pump overflow, credit card coverage, and additional coverage of computers and other technology and personal property.
Strengths: Good range of discounts, dividend policies available, high-end coverage with Platinum Choice Home — also offers condo, renters, flood, and umbrella policies
Restrictions: Some discounts and policies not available in all states, other restrictions may apply
Discounts: Loyalty, claim-free, multi-line, autopay, e-discount, alarm system, new/remodeled home, automatic detection devices (water or gas leak, or temperature monitoring system)
Amice Life Insurance
Amica isn’t as known for life insurance as it is for its auto and home policies, but it features a few options for those looking for life insurance. Amica Insurance offers the two most common types of life insurance: term and whole life.
Amica’s term policies feature a guaranteed level premium and guaranteed level protection — which is intended to ensure that the coverage amount will not decrease as the policyholder gets older. Policies can be converted to whole life at any time, regardless of health, and in states where it is allowed, Amica offers a terminal illness rider that allows the eligible policyholder to receive some benefits if they are ill.
Amica’s whole life policies feature payouts ranging from $25,000 to $1 million, with guaranteed level premium and protection. There are three whole life options to choose from: Whole Life 20, which is paid for in 20 years although coverage extends for the policyholder’s lifetime; Whole Life 65, which is paid for when they reach 65 years of age; and Whole Life 100, where premium payments are complete at age 100. Payment levels are lowest with the last option. All Amica whole life insurance policies come, free of charge, with a terminal illness rider.
Strengths: Several types of policy available; may be eligible for auto insurance discount when you purchase life insurance
Restrictions: Does not offer some types of permanent coverage, including guaranteed issue life insurance and universal life. Life coverage is offered in all states except Hawaii.
Frequently Asked Questions
Yes, Amica has a mobile app that can be downloaded for free from the App Store or Google Play. It has a 4.8 rating on the App Store, based on 7.9K ratings, while on Google Play it has a score of 4.3 on 664 ratings. The app gives access to policy information, claims, and billing. Policyholders can make payments, but the app is not optimized to accept credit card payments or set up an autopay system. It can also call roadside assistance, get a quote, view auto insurance ID card, and contact an agent.
Amica has placed fourth for both home and auto products in J.D. Power’s 2021 Claim Satisfaction Studies. It also holds Superior designations for financial strength from AM Best for home, auto, and life insurance.