Ameriprise Auto Insurance Review
Ameriprise is a well-known auto insurance company but it does not just sell auto insurance. It is a leader in the financial services industry and offers a full line of financial products through its subsidiaries including auto, home, life, health, disability, long-term care insurance, annuities and financial planning services. It is the largest financial planning company in the United States. The company sells its life insurance products through RiverSource Life Insurance. Ameriprise has been in business for over 100 years and services over 2 million customers.
Ameriprise was once a part of American Express but is now an independent company with assets of over $400 million and is listed as a Fortune 500 company. Ameriprise is headquartered in Minneapolis, Minnesota while the auto and home insurance operations have offices in Green Bay, Wisconsin and Phoenix, Arizona.
While Ameriprise home and auto insurance may not be as highly advertised as some of the bigger companies such as Progressive or GEICO, it is a financially sound company who offers affordable auto and home insurance products. Although it has received overall customer satisfaction awards from J.D. Powers & Associates, there are some complaints about the overall claims service and slow payment of claims.
Ameriprise's auto insurance products are available in only 14 states: Alabama, Arkansas, Delaware, Hawaii, Idaho, Iowa, Kansas, Mississippi, Missouri, Nebraska, New Mexico, Oklahoma, South Dakota and Tennessee. The automobile policy term is for six months.
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.)
Several attractive discounts are available to auto insurance customers including:
- Safe Driving
- Auto Safety
- Good Student
One attractive feature of Ameriprise auto insurance is the ability to choose your own repair facility. Amerprise also offers accident forgiveness, flexible payment options and allows you to waive your deductible if you have your windshield repaired instead of replaced. The accident forgiveness is available at no extra charge and allows you to maintain your safe driving discount if you have had a clean driving records for at least three years before having an accident.
The website also offers helpful tips for drivers including information about what to do if you are involved in an auto accident, tips for traveling with kids along with tips for driving in traffic. Policyholders can manage their policy online including bill payments, updating addresses or other account information.
The comprehensive portion of the Ameriprise auto policy pays for stolen key expenses including replacing the locks and if the cost is less than $250, no deductible applies. Accident travel expense coverage is also included and covers you if you are involved in an accident more than 100 miles from home and your car must be towed. It pays for out of pocket expenses for travel and accommodation.
Ratings & Awards
Ameriprise has won awards for its corporate volunteerism and 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 is an accredited company with the Better Business Bureau and has an “A+” rating. The BBB file for Ameriprise Financial was opened in 1963. The company has a composite score of 3.68 out of 5 stars with a total of 4 customer reviews. There are 44 total customer complaints. Of these 44 complaints filed within the last three years, 18 were closed in the last 12 months. Of the 44 complaints; 29 were with problems related to products/services; 4 were with delivery issues; 7 were with billing/collection issues and 4 complaints were filed relating to issues with advertising/sales.
Pros & Cons
There is a lot to like about Ameriprise auto insurance. The company is financially sound and offers many attractive discounts to customers. One unique discount is the loyalty or tenure discount. The longer you have your auto insurance with Ameriprise, the cheaper your premium is. Amerirpise does have its share of complaints and most seem to be in the area of claims processing and payments. The auto insurance is also only available in 14 states. While Ameriprise auto insurance may not be for everyone, it is an option worth considering.
- Well-established insurance company with strong financial ratings
- Attractive auto discounts including the tenure discount
- Affordable auto insurance rates
- Complaints about claims process and slow payment of claims
- Auto insurance is only available in 14 states
To get a quote for auto insurance, customers call visit the Ameriprise website or call 888-239-9953. You may also email questions to the company about its home and auto insurance products through the contact us form listed on the website.