Do you need affordable homeowner’s insurance? If so, then you have come to the right place. I believe Amica is an amazing insurance choice. In this Amica home insurance review we will go through features, claims, financial strength, and more.
Amica’s History
The Automobile Mutual Insurance Company of America (Amica) was founded in 1907. Amica is the oldest mutual insurer of automobiles in the U.S.
Amica opened its first branch office in 1941 in Boston, Massachusetts. Today Amica has 44 locations nationwide. The goal of Amica is to create peace of mind and build enduring relationships.
J.D Power Claim Study
In the latest J.D Power U.S. Home Insurance Study Amica Mutual beat out every single insurance company on the list. In fact, on a 1000-point scale Amica was 16 points higher than the next company. In the index ranking Amica received 866 points in total. Shelter came in second place with 850 points. In third place came COUNTRY Financial with 839 points. In the J.D. Power Study Amica and USAA were the only companies to receive 5 out of 5 Power Circles in every category which includes, Overall Satisfaction, Policy Offering, Price, Billing, Interaction, and Claims. Amica beat out some of the top insurance companies such as State Farm, Progressive, Nationwide, GEICO, Esurance, Erie, and more. The lowest companies in the Home Insurance Study were National General, The Hanover, Homesite, and UPC Insurance. All 4 companies received 2 out of 5 power circles.
Amica Mutual also did well in the J.D. Power Auto Claims Study. Amica was rated the top company in the Auto Claims Study. In the J.D. Power Auto Rankings, Amica was the only company to pass the 900 mark in points.
It’s one thing two win in one industry, but when a company is able to win in multiple industries, that says something about their services. Amica has phenomenal reviews from their policyholders. Amica is a great choice for those who need the best home insurance claims.
In the 2017 J.D. Power U.S. Property Claims Satisfaction Study Amica Mutual tied with The Hanover as the best insurance companies in the study.
Financial strength
Financial strength allows us to know if the insurance company that we desire has the funds to pay our claims. A.M. Best gave Amica Mutual a rating of “A++ (Superior).” Amica’s financial strength rating means that they have the assets to pay your home insurance claims.
Comparing Amica vs other top insurance providers in financial strength.
- Allstate Insurance received an “A+” rating from A.M. Best, which was the second highest of 16 categories. From Standard & Poor’s Allstate received an “AA-” rating which was the fourth highest of 22 categories. Moody’s Investors Service gave Allstate an “Aa3” financial strength rating.
- GEICO received a (Superior) “A++” financial strength rating from A.M. Best. Standard and Poor’s (S&P) received an “AA+” financial strength rating.
- State Farm received an “A++” financial strength rating from A.M. Best. S&P Global Ratings gave State Farm an “AA” financial strength rating.
- Erie Insurance received an “A+” (Superior) rating from A.M. Best.
- Progressive received an “A+” rating from A.M. Best. Progressive also received an “AA” rating from Fitch.
Home Insurance Rates
Amica might not be the cheapest home insurance company, but they are not the most expensive company either. On average Amica Mutual offers fair rates for home and auto insurance. I know many people who were able to get quotes with Amica Mutual. One thing that I love about Amica is that there are various discounts that you might be eligible for. Insurance prices differ for everyone. There are many rating factors that will determine your quote. The only true way to receive the best rate is to compare quotes, which is what I strongly recommend for those who need insurance or those who are thinking about transitioning from one insurance company to another.
Complaints review using Better Business Bureau
BBB rates the trustworthiness of a business and it allows us to know how Amica Mutual handles customer complaints. With BBB, you can get a rating grade of A+ to an F, which reveals a bad handling of customer complaints.
BBB graded the Amica Mutual Insurance Company with an “A+” rating, which is their best rating.
Here a few things that the Amica homeowner’s policy covers:
- With Amica you will be covered in case of theft, fire, smoke, vandalism, and more.
- If you are unable to live in your home because of damages, then you will be covered for increases in your living expenses.
- Amica policyholders are covered for temporary repairs to prevent more damages to a damaged home.
- Liability protection – Covers the cost of legal representation, from covered claims made against you or other members of you family who live with you for property damage or bodily injury.
- Away from home coverage.
- Credit card loss
Availability
Amica is available in every state except Hawaii so you will not have a problem with using their services in Florida, California, Texas, Louisiana, Illinois, New York, Alabama, Ohio, Maine, Tennessee, North Carolina, Utah, Georgia, etc. Discounts may vary depending on the state that you live in.
Insurance products
With Amica there are many different type of insurance services that you and your family can use and bundle together for a cheaper policy.
- Home
- Auto
- Life
- Condo
- Umbrella
- Renters
- Marine
- Motorcycle
- Wedding and Event
- Small Business
- Retirement
Amica discounts, tips, and features review
Bundling home and auto – When you bundle insurance policies you will receive a discount on your policy. If you need both home and auto, then Amica is perfect for you. Both their home and auto insurance services are rated among the best. Amica Mutual allows you to save up to 15% if you insure your car and home.
Alarm system – In the United States a burglary takes place almost every 15 seconds costing home losses and damages well over $1000 on average. It’s always beneficial to have an alarm system installed. Policyholders that have an alarm system in their home can receive a 10% discount on their policy. With Amica Mutual you can even receive additional discounts for each different sensor installed in your home. Sprinkler systems or fire alarms are included as well in this discount.
Loyalty – Insurance companies like to see loyalty. If you have been with any insurance company for two years, then you may qualify for Amica’s loyalty discount. The longer that you have been with one insurance company, the more that you can save with Amica.
Claim-free – If you have been claim free for the past 3 years, then you are able to save with Amica.
E-discount – All that you need to qualify for this discount is to sign up to receive your policy information electronically. E-discount is a discount that over 99% of policyholders should qualify for you.
Auto Pay – When you opt to pay your premium using automatic deduction you will get a discount with Amica.
New/Remodeled home credit – Do you have a new or remodeled home? If so, you will be able to receive a credit with Amica.
Automatic detection devices – When you insure a home with a temperature monitoring system, a water leak or gas leak detection system, then you can easily receive a safety discount.
Platinum Choice – Amica offers Platinum Choice which goes above and beyond the average homeowner’s insurance coverage. Platinum Choice gives policyholders increased liability and medical payments coverage. Platinum Choice also gives you extended coverage for your business property.
Coverages included:
- Additional Dwelling
- Credit Card
- Computer
- Water Backup and Sump Overflow up to $5,000
- Jewelry and Furs (theft – $2500)
- Lock Replacement
- Personal Liability – $300,000Loss
- Assessment – $5000
Home Business Coverage –Do you work out of your home? If so, you will love and appreciate Amica’s Home Business Coverage. Business property includes electronics such as laptops and phones, office furniture, supplies, and items for sale stored in your home.
Flood Insurance – Did you know that floods cost over $2 billion in property damages every year? Flood insurance is great to have and can save you money in the long run. Flood insurance is great for damages caused by hurricanes and natural disasters such as water damages.
Earthquake insurance – Ordinary home insurance policies do not cover damages that might result from an earthquake. If you live in an area that is prone to earthquakes, then earthquake insurance might be something that you would want to take a look at.
Home Repair Assistance Program – Amica has partnered with Contractor Connection, which is the goto service for finding a carefully matched contractor for your needs. What this means for Amica policyholders is that you will have over 2000 professional emergency service and restoration contractors. With the Home Repair Assistance Program, you will receive prequalified contractors that have undergone a rigorous credentialing process. In case of emergency you will receive rapid service. Within hours contractors will be at your doorstep. Amica customers will benefit from the hassle-free issue resolution and claims process. Lastly, you can rest assured that the job will be done up to standard with their limited workmanship warranty. All jobs will conform to generally accepted local building repair practices.
Home Inventory – It’s great to create a record of everything in your house, condo, or apartment. This makes choosing the right coverage options easier and it helps as a reminder in case of an emergency.
Other reviews
Website
Sometimes simplicity is the best. Amica provides a simple yet helpful website. From the homepage, you will be able to make a payment, report a claim, get auto ID cards, create an account, and more.
One thing I love about Amica is that they provide many helpful tips for policyholders and those looking for insurance. Amica gives you tips on preventing freeze damage, what to do in case of a power outage, preventing ice dams, fire hazard prevention, dog/pet safety, and more.
Mobile app
Just like their website, the Amica mobile app is simple and easy to use. The app is available for iPhone and android devices. Key features of the app include reporting and tracking claims, paying your bill, accessing repair vendors/services, viewing, ID card, and roadside assistance.
Bottom Line
Amica is perfect for those who want an insurance company with great reviews. If you want to be at peace with your insurance choice, then Amica is a great choice. Their reviews online are amazing and in case of an emergency you know that Amica will handle your claims well. I encourage you to get a quote today.