Amica Mutual Insurance is a Rhode Island-based insurance company offering auto, home, and life insurance policies. Founded in 1907, Amica has built a strong reputation for customer service and high claims satisfaction over 110+ years in the industry. Today, the Amica insurance family includes Amica Mutual Insurance Company, Amica Life Insurance Company, Amica Property and Casualty Insurance Company, and Amica General Agency, LLC.
Amica Insurance History
Amica was founded in 1907 by A.T. Vigneron in Providence, Rhode Island. The company was originally named the Automobile Mutual Insurance Company of America. Like many other insurance companies founded during this time, Amica was organized as a mutual insurance company, which means the company was owned by policyholders – not stockholders.
In fact, Amica is the oldest mutual automobile insurance company in the United States. There are other, older mutual insurance companies, but Amica is the oldest company focused specifically on car insurance.
Since launching over 100 years ago, Amica has expanded to offer auto, home, and life insurance. The company also owns a number of subsidiary insurance company. In 1994, Amica moved its corporate office from Providence, Rhode Island to a larger location in nearby Lincoln, RI. Today, the company employees more than 3,200 people across the United States.
Amica Insurance Rankings
Generally, Amica is very well-rated compared to some of its larger competitors. It has some of the highest ratings in America in terms of customer satisfaction and claims satisfaction. The company also has fewer complaints compared to the average insurance company.
The latest J.D. Power rankings confirmed Amica’s status as one of America’s best-rated insurance companies:
Insurance Shopping (Auto): Better than most
Auto Insurance Claims Satisfaction: Among the best
Home Insurance: Among the best (earned top award)
Property Claims: Among the best (earned top award)
What’s even more impressive is that Amica earned a coveted “A+” or “Superior” rating from A.M. Best, indicating that the company is in a strong financial position and should have no issue paying claims or covering liabilities. Many other car insurance companies in America have an A- rating from A.M. Best, so the fact that Amica has an A+ rating puts it a cut above the rest.
What Makes Amica Insurance Unique?
Amica offers a number of unique features that distinguish it from other car insurance companies, including:
Range of Insurance Options: Amica offers car insurance, home insurance, and life insurance, making it easy to package all of your insurance needs with a single company. The company’s home insurance is generally as well-rated as its car insurance, and a wide range of discounts and bonus features are available to homeowners with all types of budgets. For life insurance, Amica offers annual renewable term life insurance, level term life insurance, whole life insurance, and other life insurance policies for 10, 15, 20, 25, or 30 year terms ranging from $100,000 to $1 million in coverage.
Strong J.D. Power and A.M. Best Ratings: One of the best things about Amica is that the company is routinely one of the best-rated insurance companies in the country by J.D. Power and A.M. Best, two of the leading ranking agencies in the industry. You pay a little extra for Amica, but you get huge returns in terms of claims satisfaction and quality customer service.
Mobile App: Amica has an app for iPhone or Android that lets you report and track claims, make payments, connect with repair shops, view proof-of-insurance cards, and order roadside assistance, among other features.
Dividend-Paying Insurance Policies: You can pay extra money upfront for a dividend-paying car, life, or home insurance policy from Amica. Because Amica is a mutual insurance company, the company does not have investors or stockholders. Instead, policyholders own the company. That’s why you, the policyholder, can elect to receive a dividend.
Is Amica a Good Insurance Company? Our Review
Amica has risen to become one of America’s best-rated insurance companies in recent years. As shown by its A.M. Best and J.D. Power rankings, Amica is a cut above its competitors for claims satisfaction and customer service.
Amica is far from the largest insurance company in the United States. However, the company still sells insurance across the country. Wherever you’re located, you should be able to access an Amica that meets your budget.
Of course, higher claims satisfaction and better customer service comes at a price. Amica tends to be slightly higher than its competitors in most states. Rates vary widely across states and demographics, so your mileage will vary. Plus, Amica offers many of the same discounts as other insurance companies, including multi-policy discounts and bundling discounts. If you’re buying home, auto, and life insurance from Amica, then you may be able to save a significant amount of money.
Many policyholders also appreciate Amica for its bonus coverage options that come standard on every policy. Every Amica policy comes with some built-in perks that may cost extra with other providers, including free lock replacement, free airbag replacement after deployment, and ignored depreciation if car is totaled within first year of ownership (although this isn’t available in all states).
Amica Auto Insurance Policies and Products
Amica offers a range of insurance policies and products that make it one of the best-rated insurance companies in the United States, including:
Free Built-In Perks: Amica’s policies include built-in perks like free lock replacement, free airbag replacement after deployment, and no depreciation if you make a total loss claim within the first year of car ownership.
Platinum Choice Auto Program: Amica has a Platinum Choice Auto program that lets you add various features to your policy at an added cost. Those features include Advantage Rewards (where you earn points for good driving), identity fraud monitoring (monitor your credit score), full glass coverage (no deductible for glass repairs), and prestige rental coverage (up to $5,000 toward rental of a comparable car if yours is in an accident).
Amica is one of the best-rated insurance companies by J.D. Power and A.M. Best, frequently scoring among the top car insurance companies in the country in terms of customer service, claims satisfaction, and financial strength. Although it’s rarely the cheapest option in any state, many policyholders agree that Amica provides the best value among major car insurance companies.