Ameriprise Auto Insurance Review
Ameriprise is a well-known auto insurance company but it does not just sell auto insurance. It is, in fact, a leader in the broader financial services industry, and the largest financial planning company in the United States. Its full line of financial products offered by its subsidiaries includes auto, home, life, health, disability, long-term care insurance, annuities, and financial planning services.
Ameriprise is a Fortune 500 company that has been in business for over 100 years and services over 2 million customers. It sells its life insurance products through RiverSource Life Insurance. Ameriprise is headquartered in Minneapolis, Minnesota, while the auto and home insurance operations have offices in Green Bay, Wisconsin and Phoenix, Arizona. Ameriprise was once a part of American Express, but it's now an independent company that claims to manage and administrate more than $875 billion in assets, as of 2018.
Ameriprise's auto insurance products are available in 33 states, as well as in the District of Columbia. Ameriprise auto insurance coverage includes property damage/bodily injury liability. Other coverage options include:
- Comprehensive insurance
- Collision insurance
- Roadside assistance & towing
- Rental car insurance
- Uninsured motorist coverage
- Medical expense insurance
- Personal injury protection (PIP) insurance
- GAP insurance (GAP insurance pays the difference between the value of your vehicle and the amount you still owe on your original loan. It also includes new car replacement for the first year of ownership.)
Ratings & Awards
While Ameriprise home and auto insurance may not be as highly advertised as companies such as Progressive or GEICO, it is a financially sound company that offers affordable auto and home insurance products. Ameriprise has won awards for its corporate volunteerism, and it was ranked fifth in overall customer satisfaction by J.D. Powers & Associates in 2009. The company has also won numerous employer awards as one of the best places to work and launch a career.
Here is how the major insurance rating organizations rate Ameriprise:
Better Business Bureau Rating
Ameriprise Auto and Home Insurance is an accredited company with the Better Business Bureau with an “A+” rating. The BBB file for Ameriprise Financial was opened in 1963. There are, however, more than 100 customer reviews posted to the BBB's website, many of which include negative comments. Overall, the customer review rating is below two stars, out of five possible.
Pros & Cons
There is a lot to like about Ameriprise auto insurance. The company is financially sound and it offers many attractive discounts to auto insurance customers. One unique discount is the loyalty or tenure discount. The longer you have your auto insurance with Ameriprise, the cheaper your premium is. Other discounts include multi-policy and multi-vehicle rates, along with good student and safe driving rewards.
Other benefits include accident forgiveness. This benefit is available at no extra charge, and it allows you to retain a safe driving discount after an auto accident, as long as you've had a clean driving record for at least three years before the crash. There are also flexible payment options, and drivers can choose their repair facility. All these benefits come at a competitive price, and with the financial backing of a well-established company.
Ameriprise does have its fair share of complaints. Most seem to concern areas like coverage ineligibilities, claims processing, and payments. Some complaints on the BBB's website describe struggling to reach representatives, even when the representative has been assigned to handle a specific claim or customer. Similar miscommunication issues have created difficulties for customers, even when they aren't trying to file a claim. Some reported issues amending their policy to reflect a recent move or similar life-changing event.