Pros
Cons
Amica Review Summary
Amica is a budget-friendly insurance company, earning a 3.1/5 rating from WalletHub editors and good scores from organizations such as J.D. Power and the Better Business Bureau (BBB). Amica offers a wide range of coverage options, including auto insurance, home insurance, life insurance, condo insurance, renters insurance, flood insurance, small business insurance, and more. It has a lot of discounts, too.
Amica Life Insurance does business in 49 states (all but Hawaii), but Amica’s auto coverage and other types of insurance are available only in select states. In the sections below, you can learn more about Amica’s insurance coverage options and how they compare with the company’s top competitors.
Summary: Amica Scores by Review Category
| Category | Score |
|---|---|
| Amica Quotes / Pricing | 25/30 |
| 20/30 | |
| Amica Financial Stability | 3/3 |
| Amica Claims Process | 15/15 |
| Amica Types of Insurance and Additional Services Offered | 5/5 |
| Amica Discounts | 5/5 |
| Amica Transparency | 5/5 |
| OVERALL | 78/93 |
Now that you’re familiar with how Amica scores in each of our review categories, let’s see how it compares to top competitors in a handful of key areas. Hopefully, this will help you find the best insurance company for your needs.
Amica Car Insurance Pricing
Category Rating: 60% (25 out of 30)
| Driver Profile | Average Quote |
|---|---|
| 18-Year-Old | $121 per month |
| 21-Year-Old | $82 per month |
| 45-Year-Old | $44 per month |
| 45-Year-Old with a Speeding Ticket | $51 per month |
| 45-Year-Old with DUI | $116 per month |
| 55-Year-Old | $41 per month |
| 65-Year-Old | $43 per month |
Amica is one of the more affordable auto insurance companies you’ll find. The company received a score of 25/30 in the cost portion of this review, as its premiums rank in the second quartile among the cheapest major car insurance providers that WalletHub evaluated. Learn more about WalletHub’s Methodology.
Amica Customer Service & Reviews
Category Rating: 80% (20 out of 30)
- Reviews on WalletHub: 3.6/5
- J.D. Power: 4.3/5
- NAIC: 0.92
- BBB: A+
Amica has a good NAIC rating, which indicates customer reviews are positive overall. An A+ rating from the Better Business Bureau also supports Amica’s good reputation overall, but it doesn’t have a 24/7 customer support line like some of its competitors, so it didn’t get the highest score possible in this category.
Amica’s Financial Stability
Category Rating: 100% (3 out of 3)
- AM Best: A+
When it comes to financial strength, Amica has an A+ (superior) rating from AM Best, one of the nation’s leading credit rating agencies for the insurance industry.
Amica Claims
Category Rating: 100% (15 out of 15)
Amica lets customers file a claim online or over the phone 24/7 (800-242-6422), so it got the highest score possible in this category, per WalletHub’s grading criteria.
Learn more about Amica's claims process.
Amica’s Types of Insurance
Category Rating: 100% (5 out of 5)
- Auto insurance
- Homeowners insurance
- Umbrella insurance
- Condo insurance
- Renters insurance
- Marine insurance
- Motorcycle insurance
- Wedding and Event insurance
- Small Business insurance
- Retirement insurance
- Flood insurance
- Pet insurance
- RV and Trailer insurance
- Life insurance
Since Amica offers a wide variety of insurance options, the company scored well in this category. There are also generous discounts for bundling policies.
As an auto insurer, Amica offers all the basic car insurance coverage options: property damage liability, bodily injury liability, medical payments, personal injury protection, uninsured/underinsured motorist, collision, and comprehensive. It also offers several supplemental and specialty insurance options.
Supplemental Amica Car Insurance Coverage Options:
- Roadside Assistance: Covers the cost of towing, jump-starts, flat-tire repairs, fuel delivery, and locksmith services.
- Full Glass Coverage: Covers the cost of glass repair/replacement services, helping you avoid a deductible payment.
- Rental Reimbursement: Covers the cost of a rental car after an accident (up to $20 per day, $600 total). Coverage limits vary based on a customer’s policy and location.
- Platinum Choice Auto®: Delivers extra protections and benefits, including accident forgiveness, full glass coverage, identity monitoring, and prestige rental coverage (up to $5,000 toward a rental if your car is being repaired due to a covered loss).
Amica also offers free protections and benefits for its customers. The availability of these extra perks varies by location.
Free Amica Car Insurance Protections & Benefits:
- Lock Replacement: Offers free lock replacement services for lost keys.
- Glass Repair: Provides free repair services for damaged glass, but it does not cover replacements.
- Air Bag Repair: Fixes a deployed air bag for free.
- Wage Reimbursement & Bail Bonds: Provides reimbursement of lost wages if you have to appear in court, along with $1,000 for bail bonds.
- Depreciation Protection: Protects a new vehicle from depreciation if it is completely totaled in an accident within the first year of ownership. Not available in all states.
While Amica does not offer special ridesharing or commercial auto insurance coverage, the company does offer insurance policies for boats and motorcycles.
Amica Discounts
Category Rating: 100% (5 out of 5)
- Multi-vehicle discount
- Multi-line discount
- Loyalty discount
- Homeownership discount
- Young driver training discount
- Good student discount
- Student away at school discount
- Rewarding your parent's loyalty discount
- Accident-free discount
- Defensive driver training discount
- Anti-theft discount
- Electronic stability control discount
- Passive restraint discount
- Forward-collision warning discount
- Adaptive headlights discount
- Paid in full discount
- AutoPay discount
- Paperless discount
With more than 15 discounts available, Amica scored well in this category. Just remember that not all discounts are available in all states, and the rates can vary by location.
With that being said, Amica’s “dividend” policies can be confusing. Being a mutual insurance company, Amica can return a certain percentage of customers’ annual premium payments in the form of dividends. The dividend payments average 5% to 20% of your annual premium, depending on the year. However, such payments are not guaranteed, and this policy option is not available in all states, like Amica’s discounts.
Amica Transparency
Category Rating: 100% (5 out of 5)
You can find key information on the Amica website quickly and easily, so it got the top score in this category.
Bottom Line
Amica is a solid, affordable insurance company, and it earned good scores from WalletHub for the number of discounts it offers, its claims handling process, and the types of insurance options available. In addition to auto insurance policies, Amica offers standard homeowners insurance, business insurance and life insurance options. There are even coverage packages available for pets, special occasions and retirement planning. Amica’s straightforward website also makes for an easy insurance shopping experience. However, the company could make improvements when it comes to customer service. All in all, WalletHub’s editors give Amica insurance a rating of 3.4/5.
Amica Auto Insurance vs. Competitors
| Insurer | Amica | Allstate | Geico | State Farm |
|---|---|---|---|---|
| Average Premium* | $1,448 per year | $1,859 per year | $732 per year | $1,956 per year |
| Number of Car Insurance Discounts | 18 | 11 | 16 | 16 |
| Offers Home Insurance | Yes | Yes | Yes | Yes |
| Complaints Score (lower is best) | 0.92 | 2.70 | 1.23 | 1.18 |
| Editor’s Rating | 4.20 | 2.90 | 4.40 | 4.10 |
*Complaints Score represents the company's overall NAIC rating. Car insurance-specific rating may differ.
*Average annual premiums are based on a variety of driver profiles. Individuals premiums may differ, but these rates illustrate how costs from these insurers typically compare. Learn more about how these rates were calculated in the methodology section below.
For more car insurance research, check out WalletHub’s Cheap Car Insurance Study. And if you have experience with Amica auto insurance that you think might help other consumers, you can also write an Amica insurance review.
Amica Insurance Review Video
Methodology
In order to provide fair, helpful reviews of insurance companies such as Amica that can lead consumers to the best insurance coverage for their needs, WalletHub rates each insurance company in seven major categories: Cost, Insurance Types, Customer Service & Reviews, Discounts, Claims, Financial Stability and Transparency. Below, you can find an overview of what each section in our scoring rubric entails.
- The “Cost” section includes information about how expensive the insurance policies are. Amica’s average premiums and quartile rankings are based on data from New Jersey, one of the largest states Amica operates in. Rate information is provided by Quadrant Information Services. Individual rates will be different.
- The “Insurance Types” section examines what types of insurance policies the company offers.
- The “Customer Service & Reviews” section measures the insurance company’s reputation as well user reviews and information from watchdog organizations.
- The “Discounts” section examines how many and what types of discounts the company offers. It also takes into consideration whether or not there are discounts for bundling policies.
- The “Claims” section examines the ways in which customers can make claims with the policy. It considers whether or not customers can make claims by phone or online, as well as whether or not the company has a 24/7 support line.
- The “Financial Stability” section considers the company’s status with credit rating agencies A.M. Best, S&P and Moody’s.
- The “Transparency” section measures how clearly the insurer discloses key information on its website.
The final score takes these seven categories into account and reflects how close an insurance company is to WalletHub’s definition of a 5-star insurer. For more information, please read WalletHub’s full insurance company methodology.
Disclaimer: Editorial and user-generated content is not provided or commissioned by financial institutions. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are WalletHub advertising partners. Our content is intended for informational purposes only, and we encourage everyone to respect our content guidelines. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.
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FAQs
Is Amica good at paying claims? ›
Amica ranked better than most other companies for both auto insurance shopping and auto insurance claims customer satisfaction, ranking #3 and #1 respectively on J.D. Power's 2022 auto insurance studies.
Is Amica a reputable life insurance company? ›If you're shopping around for life insurance, Amica is a reputable provider that offers both term and whole life policies for individuals. You can choose from a variety of term lengths and coverage amounts.
How does Amica compare to other insurance companies? ›Auto insurance takeaway: Amica's rates for car insurance are on the high side, with prices far higher than we found at Geico, Progressive or Allstate. But its service is very highly rated by drivers. Home insurance takeaway: Amica's home insurance prices are about average, but its claims service is well-rated overall.
Who is the top five insurance company? ›- USAA. 4.3. U.S. News Rating. USAA is the best insurance company in our ratings. ...
- State Farm. 4.2. U.S. News Rating. ...
- Farmers. 4.1. U.S. News Rating. ...
- Nationwide. 4.1. U.S. News Rating. ...
- Geico. 4.1. U.S. News Rating. ...
- Allstate. 4.0. U.S. News Rating. ...
- Travelers. 4.0. U.S. News Rating. ...
- Progressive. 3.9. U.S. News Rating.
HDFC ERGO claim settlement ratio is on the top list with a ratio of 99.8% followed by Edelweiss General with 99.72% of mediclaim claim settlement ratio. Religare health insurance claim settlement ratio of 92.58% is also recommended by customers.
Who is Amica owned by? ›Amica is a mutual insurance company, meaning it is owned entirely by its policyholders. Amica policyholders get coverage without a large markup for profits, and they share in the earnings from investments and premiums by receiving dividends. Amica is the oldest mutual insurer of cars in the United States.
What is the most successful insurance company? ›- State Farm.
- USAA.
- Nationwide.
- MassMutual.
- Lincoln Financial Group.
- New York Life.
- Northwestern Mutual.
- Guardian Life.
...
Biggest life insurers in the U.S.
| Company | Life insurance options | Market share in 2021 |
|---|---|---|
| 1. Northwestern Mutual | Term life. Whole life. Universal life. | 11.5% |
Best Overall: USAA
It swept the competition in The Zebra's customer satisfaction survey, securing first place in every category. With nationwide availability and a decades-long history, USAA is trusted by many homeowners policyholders.
Which one is the best insurance company according to you? ›
Kotak Mahindra Life insurance company limited is one of India's best and fastest-growing insurance companies. It is a joint venture between Kotak Mahindra Bank Limited and Old Mutual Limited, a pan African investment, savings insurance, and banking group operating.
Which is the best insurance brand in the world? ›| Rank | Company | Country |
|---|---|---|
| 1 | Berkshire Hathaway | United States |
| 2 | Ping An Insurance | China |
| 3 | China Life Insurance | China |
| 4 | Allianz | Germany |
| Rank | Company | Market share |
|---|---|---|
| 1 | State Farm | 15.93% |
| 2 | Geico | 14.31% |
| 3 | Progressive | 13.71% |
| 4 | Allstate | 10.41% |
Cheapest car insurance company overall: State Farm
It also has the best rates in 25 states if you're not eligible for USAA. The company has a large network of local agents, meaning there's likely a State Farm agent in your city who can help you compare the cheapest rates near you.
State Farm is the largest property and casualty insurance in the United States, with more than $70 billion in premiums in 2021. The rest of the top five insurers are Berkshire Hathaway, Progressive, Liberty Mutual and Allstate.
How do I ask for more money in an insurance settlement? ›Send a Detailed Demand Letter to the Insurance Company
Because the insurance company will likely reply with an offer for an amount lower than what you've asked for in the demand letter, you should ask for between 25 and 100 percent more than what you would be willing to settle for.
ICICI Lombard General Insurance Co.
The company has a tie-up with more than 5600 garages across India and has a motor insurance claim settlement ratio of 92.2% within 30 days of claim intimation.
State Farm is good at paying claims compared to the average insurance company, according to J.D. Power's latest claims satisfaction survey. State Farm scored 892 out of 1,000 for their claims process, compared to the industry average of 880 out of 1,000.
Does Amica have good customer service? ›Claims satisfaction (J.D. Power) — Excellent: Amica earned the fourth-best rating in J.D. Power's 2021 claims satisfaction study. Customer satisfaction (J.D. Power) — Excellent: Amica received excellent marks for its customer service from J.D. Power.
How many customers does Amica have? ›Amica was founded in 1907, and although it's not the largest insurance company in the country, it does carry 1.6 million policies.
How long has Amica been around? ›
Established: 1907 – Amica is the oldest mutual insurer of automobiles in the United States. Company Profile: Amica is a direct writer of personal insurance with auto, homeowners, personal excess liability and marine coverages.
Who is the top three insurance company? ›Progressive is the No. 1 auto insurance company in the country in terms of market share, followed by State Farm, Geico and Allstate.
Which insurance agent makes the most money? ›While there are many kinds of insurance (ranging from auto insurance to health insurance), the most lucrative career in the insurance field is for those selling life insurance.
What are the big four insurance companies? ›According to a 2021 NAIC report, Northwestern Mutual, New York Life, Metropolitan, and Prudential are the four largest life insurance companies in the United States, all together holding 31.09% of the market.
What kind of life insurance is best for seniors? ›A guaranteed issue life insurance policy is often the best option for seniors in poor health. This is a type of life insurance that does not require a medical exam or answer any health questions, and you can't be turned down in any case.
What insurance does Suze Orman recommend? ›Suze Orman recommends term life policies. Term life can be a cheaper and better option for many people.
What is the best whole life insurance for seniors? ›- Guardian Life: Best for payment flexibility.
- MassMutual: Best for elderly applicants.
- Northwestern Mutual: Best for the potential to earn dividends.
- New York Life: Best coverage range.
- State Farm: Best for customer satisfaction.
- USAA: Best for coverage flexibility.
- Geico.
- Amica.
- USAA.
- Safeco.
- Auto-Owners.
- State Farm.
- Progressive.
- New Jersey Manufacturers.
Going into 2023, the U.S. life insurance industry is expected to see continued improvement around mortality earnings and an increased focus on capital levels as rising interest rates boost investment income for the sector.
Who is the largest life insurer in the US? ›| Rank | Life insurance company | Market share |
|---|---|---|
| 1 | Northwestern Mutual | 7.49% |
| 2 | New York Life | 6.97% |
| 3 | MetLife | 6.03% |
| 4 | Prudential | 5.59% |
Is it better to have actual cash value or replacement cost? ›
Replacement cost also provides extra protection above the policy's limit against material and labor cost increases. Therefore, replacement cost is a better homeowner insurance coverage option than the actual cash value because it restores the policyholder's situation to what it was before the covered loss occurred.
What is the 80% rule in homeowners insurance? ›Most insurance companies require homeowners to purchase replacement cost coverage worth at least 80% of their home's replacement cost in order to receive full coverage.
What company is rated the best customer service? ›- #1 Amazon: Self-service is the first step to serving customers.
- #2 Chick-fil-A: Appreciate customers to improve customer satisfaction.
- #3 The Ritz-Carlton: Technology makes it easier to adapt to customer needs.
- #4 Freshworks: Investing in customer relationships improves customer lifecycle.
The Big Three in the automotive industry is a reference to the three largest car manufacturers in the United States: General Motors Company (GM), Stellantis (STLA), formerly known as Fiat Chrysler, and Ford Motor Company (F).
What is the oldest insurance company in America? ›1735 The Friendly Society, the first insurance company in the United States, was established in Charleston, South Carolina.
What is the best way to get cheaper car insurance? ›- Limit your mileage. ...
- Pay annually. ...
- Improve security. ...
- Increase your voluntary excess. ...
- Build up your no claims bonus discount. ...
- Only pay for what you need. ...
- See if it's cheaper to buy add-ons as separate products. ...
- Consider your cover type.
According to our research, car insurance premiums start to go up within eight days of your current policy ending, and the sharpest rise comes around three days before. So as long as you buy before then you should avoid the big price hike reserved for those who leave it until the last minute.
How can I reduce my car insurance? ›- Increase your deductible.
- Check for discounts you qualify for.
- Compare auto insurance quotes.
- Maintain a good driving record.
- Participate in a safe driving program.
- Take a defensive driving course.
- Explore payment options.
- Improve your credit score.
Claims satisfaction (J.D. Power) — Excellent: Amica earned the fourth-best rating in J.D. Power's 2021 claims satisfaction study. Customer satisfaction (J.D. Power) — Excellent: Amica received excellent marks for its customer service from J.D. Power.
Is it worth making an insurance claim? ›
It's crucial to file a claim for major property damage and bodily injuries. A claim might not be worth it for one-car accidents when nobody is hurt. A bad driving record could increase your auto insurance premiums for three years.
How do I get the best out of my insurance claim? ›- Tip 1: Keep a record of conversations. ...
- Tip 2: Get your policy documents. ...
- Tip 3: Prove your insurance claim and then prove it again (if necessary) ...
- Tip 4: Request documents. ...
- Tip 5: Make a complaint. ...
- Tip 6: Seek advice early. ...
- Tip 7: Request an internal review. ...
- Insurance claim advice.
Fire and Lightning Damage
As you may have guessed, fire and lightning damage are by far the most costly home insurance claims. Unfortunately, they're also one of the most common claims.
- “I'm sorry.”
- “It was all/partly my fault.”
- “I did not see the other person/driver.”
If the cost to repair your car will cost less than your deductible, or even just slightly more, you should handle the repairs out of pocket. For example, if the damage to your car costs $300 to fix and the deductible is $200, you would save $100 by filing a claim.
When should you not file a claim? ›- It's a minor self-accident.
- No one is injured.
- No one else's property is damaged.
- Repair costs are less than your deductible.