Amica Mutual Insurance Co. may not have the national name recognition that the insurance industry giants do. But the Rhode Island-based insurer stands up well against the big guys on price and customer service.
Besides auto insurance, Amica offers home, boat, umbrella liability and life insurance. The insurer partners with other companies to offer small-business insurance along with coverage for weddings and other special events. The company sells products directly to consumers, rather than through an agent network.
Founded in 1907, Amica is the oldest mutual auto insurance company in the U.S. A mutual company doesn’t have investors or stockholders; it shares financial surpluses with policyholders.
Where Amica shines
- Wins kudos for auto and home insurance customer satisfaction.
- Offers among the best rates in states where the company is a big player.
- Offers dividends on certain auto, home, marine and umbrella insurance policies.
Where Amica falls short
- Offers a narrow selection of permanent life products.
- Does not pay dividends on life insurance policies.
- Mobile apps are not as robust as some insurance company apps.
at a glance
- A.M. Best financial strength rating: A++ (superior) for property/casualty, A+ (superior) for life insurance.
- Complaints: Fewer than the industry national median for a company of its size.
- Size: No. 18 for home insurance, No. 22 for auto insurance and No. 94 for life insurance, based on direct premiums written in 2015.
In this guide
Amica auto insurance
Amica offers the standard menu of auto insurance coverage, including liability, collision, comprehensive, medical payments or personal injury protection and uninsured/underinsured motorist.
A variety of perks are available at extra cost, including:
- Accident forgiveness: You earn points for good driving, time with the company or adding other policies; you can then use the points to pay down or eliminate the deductible or waive a price increase if you’re in an accident.
- Identity fraud monitoring: The service provides 24/7 monitoring at the three major credit bureaus and access to a fraud specialist if your identity is stolen.
- Full glass coverage: You pay no deductible for glass repairs.
- Extra-generous rental coverage: You get up to $5,000 toward the rental of a comparable car if yours is stolen or in an accident.
Amica works with a network of 1,200 certified repair shops, or you can choose your own.
In a state-by-state car insurance rates study by NerdWallet, Amica Mutual offered some of the best rates in Connecticut, New Hampshire and Rhode Island. The cheap car insurance study compared rates among the insurers with the largest market shares in those states; Amica was not included in the comparison in states where it has a relatively small market share.
Auto insurance discounts
Amica offers many of the discounts you might expect, including price breaks for:
- Safe driving.
- Buying both auto and home insurance from the company.
- Insuring more than one vehicle with Amica.
- Vehicle anti-theft devices and safety features, such as air bags and electronic stability control.
- Completion of driver’s training for new drivers and defensive and accident prevention classes for other drivers. The defensive driving class discount is available only to seniors in some states.
- Setting up automatic payments to buy insurance.
- Receiving policy information and bills electronically.
- Good grades for students.
- College students who go to school more than 100 miles away from home without a car.
Not all discounts are available in every state.
Amica homeowner insurance
The company offers standard home insurance and a “Platinum Choice” policy with additional liability and medical payments coverage, extra coverage for theft of valuables and more.
You can choose your own contractor to do repairs if you file a claim, or ask Amica for a referral. The insurer partners with the Contractor Connection, a national network of 2,000 licensed and insured contractors. The professionals can be on the scene within hours of an emergency, Amica says.
Amica offers some of the same discounts for home as for auto insurance, such as price breaks for buying both policies from the company, setting up automatic payments and electronic billing and loyalty.
You can also save money for:
- Alarm systems.
- A new or remodeled home.
- Temperature monitoring or gas or water leak detection systems.
- Not having past claims.
Amica also offers condo, renters insurance and boat insurance as well as personal umbrella liability insurance. An umbrella policy provides additional liability insurance above what your auto and home insurance policies provide.
You can opt to pay extra upfront for a dividend-paying auto, home, boat or umbrella liability policy. As a mutual insurance company, Amica does not have investors or stockholders; the policyholders own the company.
The dividend payouts are not guaranteed. The company pays a dividend at the end of the term if it has a surplus after paying claims and other expenses. A typical dividend is 20% of the annual price you paid for the policy, Amica says.
You can also choose a policy that doesn’t pay dividends. You’ll pay a lower price for coverage, but you won’t be eligible for the potential payout.
Dividend policies are not available in all states. Amica does not pay dividends on life insurance policies.
Amica life insurance
Amica offers level term life insurance for 10, 15, 20, 25 or 30 years. The price stays the same throughout the term, and you can buy from $100,000 to more than $1 million of coverage. The company also offers annual renewable term life insurance. The policy renews every year up to age 85 as long as you pay for it. The price goes up each year as you age.
The company also offers whole life insurance with coverage amounts starting at $25,000. Simplified issue life insurance is also available. These are smaller whole life policies, ranging from $5,000 to $25,000. You don’t have to take a medical exam to qualify for a simplified issue policy.
Customer reviews and ratings
In J.D. Power’s 2016 auto insurance study, Amica ranked No. 1 in the New England region. The study looked at customer satisfaction with interaction, policy offerings, price, billing process, policy information and claims.
For the fifth consecutive year, Amica ranked No. 1 in J.D. Power’s 2016 study of satisfaction among home insurance customers who filed claims for property damage. Among shoppers for home insurance, Amica ranked No. 1 in J.D. Power’s most recent customer satisfaction study.
Compared with the national median for companies of its size, fewer people complained about Amica to state insurance regulators, according to the National Association of Insurance Commissioners. Amica’s complaint ratio score in 2015 was 0.37 for auto insurance, 0.23 for homeowner insurance and zero for life insurance. The national median score is 1. The score is the number of complaints adjusted for market share. A score lower than 1 means fewer complaints.
Website and apps
Amica’s website offers a clear rundown of product choices. The company also offers apps for the iPhone and Android that let you report and track claims, make payments, connect with repair professionals, save auto insurance ID cards and get roadside assistance.
The Android app scored an average of 3.2 out of 5 stars among about 250 users. The iPhone app doesn’t have enough reviews for an average to be posted on the App Store.
If you’re looking for an insurer with an excellent reputation for customer service for auto and home insurance, then Amica is worth considering.