If you’re looking for a customizable renters insurance policy at an affordable rate, consider Amica Mutual Insurance. In this Amica renters insurance review, we go into detail about the company’s coverage, plans, and pricing.
Reviews by This Old House Reviews Team 07/25/2022 12:00 am
* — Some quote tools included in this article only provide quotes from a third party.
With over a century worth of experience in the insurance industry, Amica® Mutual Insurance Company has established itself as a trusted provider of renters insurance. Winning numerous J.D. Power awards for customer satisfaction, Amica prides itself on offering reliable renters insurance policies that fit your home protection needs.
In this Amica renters insurance review, the This Old House Reviews Team looks into plans, customizable coverage, pricing, customer service, and more to see how the company compares to other top renters insurance providers. Read on to learn if Amica is the best option for you.
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Compare the advantages and disadvantages of a renters insurance policy with Amica:
Pros & Cons of Amica Renters Insurance
| Pros | Cons |
|---|---|
| ✔ No limit on personal property coverage | ✘ Doesn’t go into detail for which events you’re protected from under coverage |
| ✔ Offers deductibles as low as $100 | ✘ Isn’t available nationwide |
| ✔ Provides five different discounts | – |
Amica Renters Insurance Coverage
Amica doesn’t go into detail on the events each renters insurance policy covers, though most policies cover events such as:
- Fire and lightning
- Windstorm and hail
- Riots
- Smoke damage
- Vandalism
- Theft
- Falling objects
- Weight of snow, ice, or sleet
- Damage from water-heating appliances and systems
- Short-circuit damage
When you purchase a renters insurance policy from Amica, you’ll receive coverage in the following four areas:
1. Coverage for Medical Expenses to Others
This coverage pays for medical expenses for guests who are injured in your rental unit. The quote we received from Amica covered $1,000 for medical payments to others.
2. Personal Liability Coverage
Personal liability coverage covers damages that you’re legally liable for, including damage to a neighbor or property. Typically, landlords require at least $100,000 worth of personal liability coverage. Our Amica quote covered $100,000 for personal liability.
3. Personal Property Coverage
If your personal belongings need to be repaired or replaced due to a covered event, like fire, theft, or a windstorm, this coverage covers the cost. Unlike homeowners insurance, personal property coverage doesn’t cover the structure of your rental unit. The Amica quote we received covered $25,000 for personal property.
4. Loss of Use Coverage
Loss of use coverage pays for additional expenses when your home is uninhabitable. Common loss of use coverage expenses include a hotel room and food. Our Amica quote included coverage of $5,000 for loss of use.
Here’s an example of coverage options through an Amica renters insurance policy:
Amica Range of Coverage
| Coverage Type | Range of Coverage |
|---|---|
| Personal Property | No limit |
| Liability | $25,000–$1,000,000 |
| Medical Payments to Others | $1,000–$5,000 |
| Loss of Use | 20% of personal property coverage |
Note: The amount of coverage provided is based on a variety of factors, including the rental location, proximity to a fire station, and whether or not an alarm system is installed in the unit.
Amica Renters Insurance Optional Coverage
Amica Mutual offers four optional coverages, or endorsements, that you can tack onto your policy for an additional cost, widening the coverage offered through your selected plan. Amica optional coverage includes:
- Personal Property Replacement: Personal property replacement coverage through Amica considers the value of your belongings at the time of purchase before issuing repairs or replacements. Some policies through Amica include this endorsement in standard coverage.
- Scheduled Personal Property: This coverage broadens the range of personal property coverage, protecting valuables like jewelry and fine art.
- Smart Devices and Computer: Coverage from this endorsement protects your computer, laptop, tablet, and smartphone.
- Identity Fraud: If your identity is stolen, this coverage will cover part of the charges associated with actions like unauthorized credit card use.
How Much Does Amica Renters Insurance Cost?
To give you an idea of how much an Amica renters insurance policy costs, we requested an online quote from the company. Here’s a quote for a single-family home in Chapel Hill, North Carolina:
Cost of Amica Renters Insurance
| Type | Amount |
|---|---|
| Deductible | $500 |
| Monthly cost | $13 |
Your Amica renters insurance deductible can be $100, $250, $500, $1,000, or $2,500.
To get an online quote from Amica, have the following personal information ready for a speedy quote process:
- Name
- Address
- Date of birth
Amica Renters Insurance Discounts
To help you save money on your monthly premium, Amica offers the following discounts:
- Loyalty Discount: If you’ve been with Amica for at least two years, you’ll receive a discount on your policy.
- Claim-Free Discount: If you’ve filed no claims over three three years, you’ll receive a discount.
- Multi-Line Discount: Bundling your renters and car insurance with Amica saves you up to 15%.
- Autopay Discount: When you register to auto pay your monthly premium, you’re eligible for a discount.
- E-Discount: If you opt to get your bill electronically, you’re eligible for a discount.
Customer Service and Claims Support
Amica prides itself on its award-winning local customer service. Note: their customer service hours vary by state and local insurance branch.
For filing claims, Amica allows its customers to do so online through their customer portal or by phone 24 hours a day, seven days a week. Through the online portal, customers can update their profile, make payments, print ID cards, e-sign documents, report and track claims, and upload and view documents.
Our Conclusion
Amica renters insurance provides customizable renters insurance coverage that is both comprehensive and affordable. At around $13 per month, Amica customers receive competitive coverage with top-of-the-line customer service.
To go along with its comprehensive coverage, Amica offers four optional coverages to help supplement your policy and up to five qualifying discounts. The company even offers a $100 credit for each year you have a renters insurance policy, which can be applied to a future home insurance policy.
If you’re unsure whether Amica Mutual Insurance is a good fit, consider getting quotes from a couple of competitors to compare coverage and pricing.
Compare Renters Insurance Policies & Rates
Fill out this quick form and get matched with your perfect provider.
Get My Quote 855-948-5219
855-948-5219
If you’re not sure whether Amica Renters Insurance is right for you, compare it to other top-rated renters insurance companies below.
Compare Renters Insurance Companies
Comparison | Amica | Nationwide | Allstate |
|---|---|---|---|
Known for | Award-winning customer service | Credit card coverage in the basic policy | Multiple discounts |
Monthly price | Around $13 | About $20 | About $16 |
Customer service | 24/7 for claims; limited for sales and service | 24/7 for claims; limited for sales and service | 24/7 |
BBB rating | A+ | A+ | A+ |
Company Overview
- Company Name: Amica Mutual Insurance Company
- CEO: Robert A. DiMuccio
- Years in Business: 113
- State Availability: All states except AK and HI
- Address: 100 Amica Way
- City/State: Lincoln, RI
- Zip Code: 02865-1156
- A.M. Best Financial Strength Rating: A+
Frequently Asked Questions About Amica Renters Insurance
How do I find the best policy for me?
To find the best renters insurance policy, request quotes from top providers in your area. Compare each provider’s coverage options, pricing, and customer service to determine which renters insurance policy is right for you.
What does the cancellation policy look like?
To cancel a renters insurance policy from Amica, customers can call 800-242-6422. Cancelling your policy may require you to pay a cancellation fee.
How can I file a claim?
Amica renters insurance customers can file a claim online through the customer portal or call the 24/7 customer claims hotline at 800-242-6422.
Ratings listed in this article are accurate as of October 2022.
To share feedback or ask a question about this article, send a note to our Reviews Team atreviews@thisoldhousereviews.com.
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 legit company? ›About Amica
5 in our Best Homeowners Insurance Companies of 2023 ratings, tied with American Family Insurance. It is also No. 5 in our Cheapest Homeowners Insurance Companies of 2023 ratings. Based in Rhode Island, Amica started in 1907 as the Automobile Mutual Insurance Company of America.
Your Amica renters insurance deductible can be $100, $250, $500, $1,000, or $2,500. To get an online quote from Amica, have the following personal information ready for a speedy quote process: Name. Address.
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.
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.
Why do insurance companies refuse to pay claims? ›Companies will refuse to approve your request for compensation if your claim lacks support and evidence. The insurer may justify its denial by claiming that it believes your injuries were pre-existing at the time of the accident or that your own conduct made the injuries worse.
What is the most trusted 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.
Amica car insurance cost
According to our research, the average cost of car insurance in 2023 for a full coverage policy is $2,014 per year. A minimum coverage policy is $622 per year. For comparison, Amica car insurance averages $1,467 and $429, respectively.
Amica offers coverage in 49 states plus the District of Columbia—they do business in all states except for Hawaii. You can find a local office near you using Amica's search tool, or by calling their phone line at 800-242-6422.
Is it better to have a $500 deductible or $250? ›Deductible choices typically range from $250 to $2,000, with $500 representing the most common deductible choice. A lower deductible—such as $250 or $500—will mean higher auto insurance rates. That's because the lower the deductible, the more your car insurance company will need to pay out if you make a claim.
Why is lemonade renters insurance so cheap? ›
Lemonade uses AI technology to make insurance way more efficient, enabling renters to score great coverage for incredible prices. How is Lemonade able to provide these prices? Lemonade works hard to lower fraud costs by aligning interests, and slashing expenses through technology.
Is it better to have a higher or lower deductible for renters insurance? ›If you want lower out-of-pocket expenses for unexpected repairs, go with a lower deductible (and higher premium). If you prefer a lower insurance premium, choose a higher deductible, and expect to pay more when you file a claim.
Does Amica cover hail damage? ›Covers damage to your car that isn't a result of a collision with another vehicle or object. This can cover damage from: Fire. Hail, hurricanes and fallen trees.
Where is Amica made? ›Our factory employs nearly 2500 people. We produce Amica products in Wronki, Poland, our sales and marketing offices are located in Poznan. The offices are situated at the FC Lech Stadium because we love our sporting heritage. The products are made in Wronki as well as numerous other factories around Europe.
How old is amica insurance? ›| Type | Mutual |
|---|---|
| Founded | 1907 |
| Headquarters | Lincoln, Rhode Island, United States |
| Key people | Robert A. DiMuccio, Chairman, President and CEO |
| Number of employees | 3,781 (2019) |
State Farm is the number one auto insurer in the U.S., followed by Geico, Progressive, Allstate and USAA. State Farm has a market share of 16% for car insurance, and the company sells policies online as well as through agents across the country.
What are the top 5 insurance rating agencies? ›Five independent agencies—A.M. Best, Fitch, Kroll Bond Rating Agency (KBRA), Moody's and Standard & Poor's—rate the financial strength of insurance companies. Each has its own rating scale, its own rating standards, its own population of rated companies, and its own distribution of companies across its scale.
Which home insurance company has the highest customer satisfaction? ›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.
- admitting fault,
- saying that you are not hurt,
- describing your injuries,
- speculating about what happened, or.
- saying anything on the record.
- Technicalities: missing codes or authorizations, claim filing mistakes.
- Medical: treatment not considered a medical necessity or is considered experimental/investigational.
What to do if the insurance company won't pay? ›
If you still think the insurance company should be paying out, you'll want to call them back and ask how you can start the appeal process. If your appeals are denied, the next step is to contact your state regulator. Some states have an ombudsman who can guide you through the process.
What insurance companies do not want you to know? ›- Your car insurance may not be tied to the driver.
- The type of car you drive matters.
- Prior claims and questions raise rates.
- You can check your report for errors.
- Your credit score impacts your car insurance costs.
- Where you live impacts your premium account.
| Rank | Company | Total assets (US$ Billion) |
|---|---|---|
| 1 | Allianz | 1,261.9 |
| 2 | Axa | 950.6 |
| 3 | Prudential Financial | 940.7 |
| 4 | Ping An Insurance | 883.9 |
Does the use of insurance scores affect my credit rating? There is no effect on your credit rating when Amica makes an inquiry into your credit history. However, the inquiry will be present on your credit report, should you choose to obtain one.
What kind of insurance company is Amica? ›Company Profile: Amica is a direct writer of personal insurance with auto, homeowners, personal excess liability and marine coverages. The company is known in the insurance industry for its financial strength and exceptional customer service.
Is Amica home insurance expensive? ›In general, Amica home insurance is not expensive — its average monthly rate of $146 is 8% cheaper than the national average. However, how much you pay for home insurance with Amica will vary greatly depending on your home, dwelling coverage limit, where you live, claims history, and other factors.
What two states have no insurance? ›- New Hampshire: In New Hampshire, drivers only need to prove their ability to pay for damage following a car accident. ...
- Virginia: Virginia allows its residents to pay an "uninsured motorist fee" for about $500 per year.
Amica was founded in 1907, and although it's not the largest insurance company in the country, it does carry 1.6 million policies. It sells more than a dozen insurance products and has great third-party ratings for customer satisfaction and financial strength.
What is the oldest insurance company in America? ›1752 The Philadelphia Contributionship for the Insurance of Houses from Loss by Fire, the oldest insurance carrier in continuous operation in the United States, was established. 1759 Presbyterian Ministers Fund, the first life insurance company in the United States, was founded.
Which insurance company is best for claim settlement? ›
Max Life Insurance has the highest claim settlement ratio in terms of the number of claims with 99.34 per cent for the year 2021-22. With a 99.09 per cent death settlement ratio, Exide Life insurance and Bharti Axa Life Insurance bagged the second position.
Which insurance is best in claim settlement? ›United India Insurance tops the chart with a 97.25 per cent claim-settlement ratio.
Which company has best claim settlement ratio? ›- Edelweiss General Health Insurance Company Limited.
- Star Health and Allied Insurance Company Limited.
- Kotak Mahindra General Insurance Company.
- HDFC ERGO Health Insurance Company Limited.
- IFFCO Tokio General Insurance Company Limited.
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.