Ameriprise Auto Insurance offers a full range of auto insurance coverage while maintaining some of the lowest rates in the industry.
Ameriprise Insurance is well-known for its partnership with Costco and is referred to by many as Costco auto insurance. This is because Ameriprise offers members of the superstore an exclusive discount on Ameriprise insurance for both home and auto policies. As an additional incentive, Ameriprise offers Costco members extra benefits for free, such as stolen key coverage and windshield replacements. While the savings are attractive, these are benefits that many insurance companies do not offer. No matter your policy, Ameriprise customers receive knowledgeable customer service and 24/7 access for filing claims.
Ameriprise Insurance is available in 33 states and the District of Columbia, and it also provides financial planning services through Ameriprise Financial. If you’re an Ameriprise Financial customer, you receive lifetime renewability for the auto insurance. This is a great benefit because you never know what accidents might happen, and you’ll receive more security by being able to renew. If you’re looking for additional insurance coverage, Ameriprise also provides convenient bundling. Customers can choose from home, auto, renters, and specialty insurance to bundle together in an umbrella policy. With this option, you can eliminate the need for researching and vetting multiple insurance companies because all you need to search for are Ameriprise insurance reviews or a Costco auto insurance review.
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Ameriprise auto insurance overview
|Price||Varies by location, vehicle and other factors|
|Best for||People on a budget, customer service, multi-policy|
|Not for||High riskdrivers, young or new drivers, drivers with multiple accidents|
|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|
|Better Business Bureau rating||A+|
|AM Best rating||A (Excellent)|
|Standout features||Costco auto insurance, Lifetime renewability for Ameriprise Financial clients, New car replacement, Glass repair with no deductible, and Gap coverage|
Ameriprise insurance rates
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.
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. Read customer Ameriprise auto insurance reviews so you can go with a company that has strong financial strength ratings. These ratings are a good indicator that the insurance company will be able to pay out your claims when you need them to. Consider 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. You can find additional reviews under Costco auto insurance reviews too.
The Simple Dollar’s Ameriprise Auto Insurance review
Ameriprise offers all state-mandated auto insurance coverages, plus extras like stolen key and accident travel expense coverage and 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.
Ameriprise Insurance coverage options
Ameriprise is available in 33 states and the District of Columbia, 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.
There are several kinds of coverage available through Ameriprise auto insurance:
- New car replacement: If your car is less than a year old with 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 is 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.
- Roadside assistance: Ameriprise offers roadside assistance and towing coverage which can be a big help if your car breaks down unexpectedly. 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 new ones and replace the locks. 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.
The company is known for its affordable rates and many discounts, so it’s a good choice if you’re on a budget. As an Ameriprise customer, 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.
- 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, safe driver discounts and 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 for 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
Other unique features
- 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.
- 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.
- 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.
- Financial stability: AM Best gave Ameriprise an A+ rating for its financial strength. This rating shows the company’s ability to provide customer guarantees with little risk
- Superior customer service Ameriprise has also received high praise from customers, with the highest rating of any California company in J.D. Power’s 2018 customer satisfaction survey. Price was a big determinant 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, indicating that Ameriprise to likely to handle questions and claims efficiently with as little stress as possible.
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 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. J.D. Power survey.
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 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
- Insurance Journal reported in early 2019 that Ameriprise Home and Auto Insurance was purchased by American Family Insurance. The acquisition is expected to maintain Ameriprise’s partnership with Costco while increasing the Ameriprise coverage area. According to insurance raters at AM Best, the acquisition will also “contribute further to the growing geographic and distribution diversification of the American Family enterprise.”
- 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
Finding the right auto insurance for your budget and requirements can be a lengthy process. 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. If you have good accident history or already benefit from Ameriprise Financial and its other insurance offerings, you could be saving money on your premium and overall auto costs. As a new customer, you’ll still be eligible for savings and unique benefits that aren’t available through other auto insurance companies.
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