Ameriprise Auto Insurance Review

Advertiser Disclosure

Ameriprise offers quality coverage and excellent customer service at a reasonable price, but it’s not available everywhere.

Ameriprise is known for its low rates, so it’s a good choice if you’re on a budget. It has a nice selection of discounts to help you save and several rare coverages, like stolen key replacement and windshield repairs, each included at no additional cost. And if you use Ameriprise’s financial planning services, you’re eligible for lifetime renewability, which is almost unheard of in the auto insurance industry.

Unfortunately, Ameripriseis only available in 34 states, so depending on where you live, you may have to consider some other options. Ameriprise also isn’t the best choice if you have several accidents on your record because they look at your driving history over the past six years, rather than the usual five years most insurance companies consider. But given its reputation for low prices and excellent customer service, it’s still worth getting a quote.

Find the Best Car Insurance Rates

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

The Specs

Price Varies by location, vehicle and other factors
Best For People on a budget
Not For People with many accidents on their record
Discounts Accident-free
Air bags
Anti-lock brakes
Anti-theft device
Automatic seatbelts
Defensive driving course
Education
Garaging
Good student
Loyalty
Multi-vehicle
Safe driving
Student away at school
Tenure
States Served 34
In Business Since 1894
Better Business Bureau Rating A+
A.M. Best Rating A
Moody’s Rating A3
S&P Rating A
Standout Features Lifetime renewability for Ameriprise Financial clients
New car replacement
Glass repair with no deductible
Gap coverage

The Claim

Ameriprise understands that while most people are shopping for a low premium, they also need excellent service. It strives to provide both, offering low rates on quality coverage and top-notch customer service to lessen the headache of filing a claim.

Is it True?

Yes. Ameriprise offers all state-mandated auto insurance coverages, plus extras like stolen key and accident travel expense coverage, as well as windshield repair, with no deductible. Its new car replacement and gap coverage also make it a good choice for those with newer vehicles. If you’re an Ameriprise Financial client, you also qualify for lifetime renewability, which is a benefit you won’t find among most insurers.

The company is known for its affordable rates and many discounts, so it’s a good choice if you’re on a budget.  According to Consumer Reports, customers gave Ameriprise the highest possible rating in terms of price satisfaction. You can earn savings for a variety of things you likely already do, like driving safely, insuring multiple vehicles, and storing your car in a garage. Ameriprise also has some of the best loyalty discounts in the industry.

In terms of customer service, Ameriprise has also received high praise from customers. It received the highest rating of any company in J.D. Power’s 2015 customer satisfaction survey for the California region. Though available in 34 states, it was not ranked in any other regions. Again, price was a big determining factor in the customer satisfaction rating, but claims handling and customer service were both reported to be above average as well. Consumer Reports had similar findings. These ratings are a good sign that any questions or claims will be handled efficiently, with as little stress to the consumer as possible.

Our Deep Dive

  • Not available nationwide: Ameriprise is available in 34 states across the U.S., including much of the Midwest and the South. If you don’t live in its service area, though, you’ll have to explore other options.
  • Lifetime renewability for Ameriprise Financial clients: If you make use of Ameriprise’s financial planning services, you qualify for lifetime renewability on your auto insurance. Though it’s uncommon, most insurers reserve the right to terminate your coverage at the end of the policy period. Ameriprise guarantees you renewability, though it does have the option of raising your rates.
  • May have to call for a quote: I filled out the online quote form, but in the end, was told that I’d need to contact the company by phone to complete the process. This is inconvenient for those who are just price shopping and aren’t ready to commit to a purchase, but given the affordability of Ameriprise’s rates, it’s worth taking the time to give it a call.
  • Six-year driving history: Most auto insurers only ask you to list accidents or traffic violations that took place in the last five years, but Ameriprise requires a six-year history. If you were in an accident six years ago, it may be wiser to choose a different company that doesn’t look that far back into your past.
  • Plenty of ways to save: Ameriprise has a good selection of auto insurance discounts, including uncommon ones like garaging, tenure, and education discounts. There’s also multi-vehicle and safe driver discounts, as well as a number of vehicle discounts. If you have a teen driver on your policy, you may be able to take advantage of good student and student away at school discounts, which can take the sting out of those high young driver premiums.
  • Good choice if you have a lease or loan: Ameriprise is one of the few auto insurers to offer gap coverage, which pays the balance of your lease or loan if your vehicle is totaled. Most companies only pay the actual value, which may be less than what you owe on your car. Ameriprise will pay up to 120% of your vehicle’s value to prevent you from being stuck with a loan on a car you no longer own.
  • Accident forgiveness: Ameriprise offers accident forgiveness to policyholders with three years of safe driving under their belt. If you’re found to be at fault in an accident, you won’t have to worry about your rates going up. In states that don’t allow accident forgiveness, Ameriprise will decrease the premium surcharge over the course of three years, rather than requiring you to pay it in full until the accident falls off your record.
  • New car replacement: If your car is less than a year old and has less than 15,000 miles, you qualify for new car replacement. This pays to replace your vehicle with one of the same make and model if it’s damaged in a crash. New cars depreciate quickly, so the actual value of your car at the time of the accident may not be enough to pay for a new one. Ameriprise covers your vehicle up to 110% of the MSRP, so you won’t run into this problem.
  • Windshield repair with no deductible: If a rock chips your windshield, you can get it replaced without paying a deductible. This coverage is included standard with Ameriprise auto insurance policies.
  • Get help when your car breaks down: Ameriprise offers roadside assistance and towing coverage, both of which can be a big help if your car breaks down unexpectedly. And if it’s going to be in the shop for a while, Ameriprise’s rental car reimbursement coverage will help you cover the costs of renting a vehicle.
  • Stolen key coverage: Ameriprise includes protection for stolen keys in your comprehensive coverage. If someone steals your car keys, the company will pay for you to get new ones and replace the locks. And if the total cost is less than $250, you won’t have to pay a deductible.
  • Accident travel expense coverage: If you get into an accident while over 100 miles away from home and your car has to be taken in for repairs, Ameriprise will pay for travel accommodations while you wait for your car to be fixed.
  • No mobile tools: Ameriprise has mobile apps, but you can’t view or manage your auto insurance policy from here. This won’t be a huge concern for most people, but an app can be convenient when you need quick access to your policy documents or roadside assistance and you’re not near a computer.

Find the Best Car Insurance Rates

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

Cost Rundown

Ameriprise auto insurance is known for being pretty affordable, but you won’t know exactly how much it’s going to cost you until you get a quote. Insurance premiums are highly personalized, taking factors like your age, driving record, credit history, vehicle, and address into account. Every company has its own algorithm that weighs these factors differently, which is why rates vary from one company to the next.

Before committing to a purchase, you should shop around and compare quotes to make sure you’re getting the best deal. Don’t just look at price, though. Make sure you go with a company that has strong financial strength ratings. This is a good indicator that the insurance company will be able to pay out your claims when you need them to. And take a look at customer satisfaction ratings as well. It may not seem that important now, but it can make a big difference when you go to file a claim.

Cheaper (or Free!) Alternatives

Every state requires auto insurance, though the exact minimums vary. Driving without insurance will result in some hefty fines, so it’s best to obey the law. If you’re looking for ways to lower your premiums, try some of these tips instead:

  • Choose a safe vehicle. The next time you buy, look for something with high safety ratings and avoid models that are known to be common targets of car thieves.
  • Limit your driving time. Statistically, if you drive less, you’re at a lower risk of getting into an accident, so insurers will usually offer you a lower rate.
  • Tell your insurer about life changes. Most companies lower your rates when you get married or graduate from college, so let your insurer know right away.
  • Work on your credit. All auto insurers look at your credit reports. This information is used as a measure of your overall responsibility, so a higher score will earn you a lower rate.
  • Take a defensive driver course. These refresher courses help you brush up on your driving skills and will earn you a discount with most insurers.
  • Choose a high deductible. This will raise your out of pocket costs in the event of a claim, but it will drastically reduce your monthly premiums.

The Competition

GEICO: GEICO is another insurer known for its affordable rates and deep discounts. So if for some reason you’re not satisfied with Ameriprise, GEICO is worth checking out. It falls behind Ameriprise in terms of customer satisfaction, though. It received mixed reviews in the J.D. Power survey, falling below the regional average several times.

Progressive: Progressive is another good choice for those on a budget. Like Ameriprise, it offers gap coverage to help pay the balance of your lease or loan if your vehicle is totaled in an accident. Its discounts aren’t quite as impressive as GEICO’s or Allstate’s, but its rates are consistently affordable. In terms of customer satisfaction, Progressive is just average according to the J.D. Power survey.

Allstate: Despite its many discounts, Allstate’s rates are typically much more expensive than the other companies on this list. However, they do offer nice rewards to safe drivers, including the Safe Driving Bonus Check and vanishing deductible. It also offers a unique claim satisfaction guarantee, which gives you a refund if you’re unsatisfied with the way your claim was handled.

State Farm: State Farm is the largest auto insurer in the nation and is known for its customer service. It doesn’t offer as many discounts or optional coverages as some of the other companies on this list, but it’s a great choice if you’re looking for standard coverage and excellent customer service at a reasonable price.

What Others Are Saying

  • Claims Journal reported that Ameriprise was sued by one of its customers because the company refused to pay the full amount of the uninsured motorist coverage. The customer alleged that “Ameriprise breached the implied covenant of good faith and fair dealing by forcing the insured to arbitrate the claim without fairly investigating, evaluating and attempting to resolve it.” Ameriprise denied the allegations.
  • Business Wire released a press release about Ameriprise’s partnership with the Ford Motor Credit Company to provide insurance to Ford, Lincoln, and Mercury owners. When asked about this partnership, a Ford spokesperson said, “Our goal was to find a company that would enhance our relationships with our customers by delivering a superior insurance program. We’ve achieved that with Ameriprise. We chose Ameriprise Auto and Home Insurance because they share our focus on client relationships and best-in-class customer service.”

The Bottom Line

Ameriprise offers quality auto insurance at an affordable rate. It’s not available everywhere, but if it’s an option in your state, it’s worth taking the time to get a quote.

Find the Best Car Insurance Rates

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.