Ameriprise Insurance Review

Ameriprise Insurance
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Ameriprise Insurance Summary

In 1986, American Express Financial Corporation acquired the Wisconsin Employers Casualty Company of Green Bay, renamed it IDS (Investor Diversified Services) Property Casualty Insurance Company, and began selling auto, home, and umbrella insurance in Wisconsin. Within a year, the company had expanded coverage to Minnesota, Indiana, Iowa, and Ohio. By 2005, IDS Property Casualty began doing business as Ameriprise Auto & Home Insurance, but IDS Property Casualty Insurance Company remains the underwriting company.

Today Ameriprise offers insurance products in 42 states and has more than 1,200 employees. It is not available in Alaska, Florida, Louisiana, Maine, North Dakota, Rhode Island, West Virginia, Wyoming, or the territory of Puerto Rico.

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Insurance Products

Ameriprise auto insurance offers personal liability, collision/comprehensive, uninsured motorist, roadside assistance, rental reimbursement, and more. Discounts are awarded for safe driving, vehicle safety features, multiple vehicles, loyalty (multiple-policy), and tenure. No deductible is also offered for glass repair.

The standard home insurance policies include a few extras such as coverage for food spoilage due to power failures, losses due to unauthorized credit card use or check fraud, identity theft (up to $5,000), and lock replacement due to theft. Additional scheduled personal property coverage with no deductible is also one of several options. Discounts include multi-policy, age of home, home safety features, longevity, and a special discount for retirees over age 55.

Similar discounts are available with renters insurance, including credit card and check fraud and identity theft.

Ameriprise umbrella insurance is available from $1 million up to $5 million with auto, home, or renters policies.

Through partners—including American Modern, Arrowhead, Chubb, Embrace, Hartford, Progressive and RLI—Ameriprise can also provide specialty coverage such as insurance for pets, collector vehicles, ATVs, motorcycles, recreational vehicles, watercraft, and flooding.

Ameriprise Insurance Rates

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Ameriprise offers online quotations for auto, home, renters, and personal umbrella insurance, as well as specialty insurance underwritten by affiliates. Policies are also sold through Ameriprise Financial’s licensed financial advisors or through partner companies such as Costco and Ford.

Claims

For policy holders, most auto and home claims can be initiated online or by calling 888-404-5365. For claimants not insured through Ameriprise, claims can be reported by calling 800-872-5246.

Consumer Research and Complaints

Ameriprise Auto & Home Insurance is accredited by the Better Business Bureau and holds an A+ rating. It has received 120 complaints in the last three years, 43 complaints were closed in the last 12 months. Seventy percent of complaints concerned product/service issues; 23 complaints involved billing/collection issues, nine complaints detailed a billing/collection issues, and the rest cited delivery or guarantee/warranty issues.

The National Association of Insurance Commissioners’ Center for Insurance Policy and Research shows that Ameriprise’s complaint ratio for 2013 was 1.34 compared to a median complaint ratio of 1.00 for all companies offering private passenger auto insurance. The company’s complaint ratio for homeowner insurance was 0.00 compared to a median complaint ratio of 1.00 for all companies offering homeowner insurance.

Financial Strength

Rating Company Grade Financial Outlook
AM Best A Stable
Fitch N/A N/A
S&P N/A N/A

Bottom Line

Ameriprise’s reach extends into 42 states country wide, up from 1 state at its origin; their influence is undeniable. Individuals requiring full-coverage auto policies & home/condo insurance could benefit from taking a close look into Ameriprise Insurance. To the contrary it is important to note the relatively high (70%) percentage of complaints attributable to product & service issues as reported by the BBB and a relatively high complaint ratio as indicated by the National Association of Insurance Commissioners.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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Review Information

Summary
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Ameriprise Insurance
Author Rating
3

Comments

  1. confused says

    Can you please explain the difference between no fault and fault? On my clue summary report it shows that i was at fault even thought I was not. My car was parked and an unoccupied vehicle drifted backwards and damaged my car. How do i get fault removed on my clue summary report?

    • Eric Stauffer says

      Hello,

      Did you get a police report by chance? That could help a great deal.

      Either way, start by appealing the process. Contact your claims department to get the ball rolling. If that does not work, it may make sense to speak with a local attorney that is experienced with dealing in these types of situations.

      It could be as simple as a mix-up, so its probably best to check with the insurance company directly first.

      Best,
      Eric Stauffer

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