Ameriprise Auto Insurance Review

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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 a large financial planning company in the United States. Its full line of financial products offered by its subsidiaries includes auto, home, life, disability, long-term care insurance, annuities, and financial planning services.

Company Background

Ameriprise is a Fortune 500 company that has been in business for over 100 years and serves over 2 million customers. It sells its life insurance products through RiverSource Life Insurance. Ameriprise has executive offices in in Minneapolis, Minnesota, and New York City. Ameriprise was once a part of American Express, but it's now an independent company that claims to manage and administrate more than $900 billion in assets, as of 2020.

Insurance Products

Ameriprise's auto insurance products are available in 44 states, as well as in the District of Columbia. Ameriprise auto insurance coverages include 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 was awarded J.D. Power's 2020 Certified Customer Service Award. The company has also won numerous employer awards as one of the best places to work.

Here is how the major insurance rating organizations rate Ameriprise (as of 2021):

Better Business Bureau Rating

Ameriprise Auto and Home Insurance is not an accredited company with the Better Business Bureau with an “A+” rating. The BBB file for Ameriprise Financial was opened in 1972. There are, however, 52 customer reviews posted to the BBB's website, many of which include negative comments (as of June 2021). 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.

Article Sources

  1. Ameriprise Financial. "Understanding Life Insurance Plans." Accessed June 28, 2021.

  2. Ameriprise Financial. "Company Information." Accessed June 28, 2021.

  3. Ameriprise Financial. "Our History." Accessed June 28, 2021.

  4. CONNECT. "State Lists." Accessed June 28, 2021.

  5. CONNECT. "New Car Replacement and GAP Insurance Coverage Guide." Accessed June 28, 2021.

  6. CONNECT. "Auto Insurance Coverage." Accessed June 28, 2021.

  7. Ameriprise Financial. "Top Ratings in the Investment Industry." Accessed June 28, 2021.

  8. Ameriprise Financial. "Credit Ratings." Accessed June 28, 2021.

  9. Better Business Bureau. "Ameriprise Auto & Home Insurance." Accessed June 28, 2021.

  10. CONNECT. "Discounts and Benefits." Accessed June 28, 2021.

  11. CONNECT. "What to Know When Shopping for Car Insurance." Accessed June 28, 2021.

  12. CONNECT. "General FAQs." Accessed June 28, 2021.