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Review of Ameriprise Car Insurance & Comparison

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Updated March 30th, 2021

As of 2020, American Family Insurance has acquired Ameriprise Financial Auto & Home insurance services.

If you want a quote from Ameriprise, you may use Costco car insurance coverage for Costco members but offer it through American Family, their parent company.

While Ameriprise Financial has been around since 1894, it has only recently been getting recognition as a leading provider of personal insurance products like auto and home.

It has quietly improved its rankings as a reliable, affordable, and customer-favorite in the field of standard car insurance coverage, better known for its full range of financial planning and investing services.

Comparing Ameriprise against Allstate, Progressive, State Farm, etc.

Note: In this instance, Ameriprise is more expensive than Progressive and State Farm but cheaper than Allstate and Farmers. When I queried for quotes, this was about average for prices.

In the most recent combined J.D. Power & Associates and A.M. Best survey of similar carriers, Ameriprise car insurance earned 85 of a possible 100 points, putting it ahead of much larger car insurance companies like The Hartford and MetLife.

And are reported by consumers to have a good claims process. 

Comparing Ameriprise Car Insurance Rates

Below I obtained quotes for drivers from 25 to 55 years of age with various profiles.

I did this to give you an overview and perspective of Ameriprise to other financial carriers.

Graph showing policy prices for Ameriprise, Allstate, Farmers for 30 y/o driver.

Note: For a 30 y/o male driver, they are competitive with all insurers. Prices are approximately 10% higher than the average price. In this instance, the premium price was slightly higher than the state average in Idaho.

Across the board, for all ages, they are competitive. When I queried for quotes, I did not take into consideration discounts.

Most of the time, Ameriprise car insurance is slightly higher than its competitors.

However, with awesome financial strength rating and customer satisfaction, they may be slightly better overall. 

Driver ProfileAmeripriseProgressiveAllstateFarmersState Farm
25 y/o female$1,612$1,523$1,639$1,712$1,512
25 y/o male$1,922$1,865$2,012$2,004$1,903
30 y/o female$1,323$1,223$1,432$1,521$1,240
30 y/o male$1,387$1,365$1,508$1,585$1,340
25 y/o male (1 driving violation)$2,211$2,176$2,237$2,554$2,106
30 y/o female (1 driving violation)$1,532$1,476$1,589$1,812$1,375
40 y/o male$943$976$1,045$1,090$966
45 y/o female$769$756$790$824$742
55 y/o male$626$682$711$690$640
55 y/o female$579$601$632$599$592

Generous with the Discounts

Ameriprise Insurance seems to be carving out a strong niche in coverage options due to the numerous and generous discounts they offer customers.

Customers can apply for car insurance discounts in general categories linked to car features, driving habits and styles, and depth of involvement with Ameriprise.

Showing cheapest premium prices for driver with 1 driving violation.

Note: When comparing quotes with a driver with traffic offenses, the quotes were in line with the normal increase in an auto premium. In this instance, Farmers shot up, and State Farm appeared to be a little lower even though I compared the same driver profile with all insurers.

Some of the standard discounts you can get with an Ameriprise Insurance plan include:

– Member discounts – if you are an Ameriprise Financial services client, you are eligible for an exclusive discount just for choosing Ameriprise auto and/or home.

(Not available for drivers in Massachusetts, New York, or Tennessee.)

– Safe driving – go for an extended period of time driving accident-free, and Ameriprise will extend a discount on your premium renewal.

In some cases, it requires three years of accident-free driving, and in other states, it requires five years of accident-free, but you receive credit for driving accident-free with any previous insurer.Top discounts from insurers when combined with savings. Note: Above are typical discounts offered through Ameriprise Insurance. To get more of a discount on your premium, try combining them. When it comes to the vehicle itself, safety features have the most impact on discounts. Of course, your best bet is to have a good driving history.

– Safety – if your car has safety features like anti-lock brakes, airbags, and automatic seatbelts, or if it includes anti-theft devices, you may be eligible for additional discounts.

– Good student – if you have younger drivers who are in school and maintain good grades (a “B” average or better), you can get a discount to offset the added cost of insuring a younger driver.

– Education – younger drivers who are in college or who recently graduated from college can also apply for additional discounts.

– Multi-vehicle – add more than one car or a truck, or even a motorcycle, and you could qualify for Ameriprise’s multiple vehicle discounts.Low-cost vehicle insurance prices compared with Ameriprise for 40 y/o. Note: For a 40-year-old driver, I found the premium prices cluster near $1,000 plus or minus about $50 to $90. I was surprised to find Ameriprise offered the lowest quote out of all the insurers illustrated. Each of them is 8 to 12% lower than typical quotes.

– Loyalty – add another financial level of service product to your package, and you could qualify for a loyalty discount.

The multi-policy discount is one of the more generous ones as it could net you as much as a 14 percent reduction on your premium alone.

– Not available to drivers in Alabama, California, Georgia, Hawaii, North or South Carolina.

– Tenure – if you stay insured with Ameriprise for three years or more, you may earn its tenure discount.

Others include:

  • Defensive driver
  • Roadside assistance
  • Credit card benefits
  • Rental car protection
  • GAP insurance
  • Windshield repair
  • Car replacement

There are optional coverages like Personal Injury Protection (PIP), a glass repair deductible waiver, underinsured motorist coverage, and rental reimbursement. 

Below is a list of the percentage discount off your auto policy.

RankDiscountPercentage
1Good Student5 - 30%
2Safe Driving4 - 20%
3Multi-Car Policy5 - 15%
4Anti-Theft / Safety5 - 15%
5Loyalty5 - 15%
6Education2 - 7%
7Tenure0 - 5%

Lowest price premium choices for 55 y/o compared.

Note: A 55-year-old female driver can find quotes from $579 to $632 for full coverage. In this instance, a policy with Ameriprise was lower than all the insurers illustrated. When I was querying for quotes, they are substantially more competitive with older drivers than younger ones.

Comparing Coverage in Various Regions

Below is a table I have prepared an auto rate for a 49-year-old female driver.

Depending on the United States region, your premium will vary according to Ameriprise and Consumer Reports. 

Average state quote compared to Ameriprise/Costco car insurance.

Note: As illustrated, in all 5 states, Ameriprise is slightly more expensive. This seems to be in line when taking them as an average rather than simply getting a specific driver profile quote. A good reason to get a quote from them to see what is offered.

In the example below, premiums are lower in Texas than in Georgia or New York.

On the other hand, compared with other carriers, Ameriprise is competitive in the southern, mid-west, and northern areas.

49-Year-Old FemaleAtlanta, GAFort Worth, TXNew York
Cost Per Month$154.69$63.97$133.94
Annual Premium Price$1,856.28$767.64$1,607.28
Coverage BIL & PD$25,000$25,000$25,000
Uninsured Motorist Coverage$50,000$50,000$50,000
Medical PaymentsN/AN/A$1,000
Comprehensive w/ Deductible$500$500$500

Comparison & Overall Customer Service Satisfaction

One item to be aware of is the percentage rate hike some insurers give to their customers. Ameriprise is not immune to this, either.

The state’s percentage premium hike is from 2 to 6% depending on the state you reside in.

Quotes compared by state to Ameriprise/Costco/American Family.

Note: Again, in this instance, Ameriprise is higher than the state average for all states except Texas. Taking averages is difficult to do, and the results are skewed. Therefore it is important to get a quote with a specific driving profile or for yourself to find a competitive rate.

Of course, if you get any driving infractions, this amount can be substantially higher.

The reason for this data is to show you hikes are not out of the normal amount, which any insurer would do as standard practice.

Rideshare insurance is not included. According to their website, you should get a commercial auto insurance policy.

For most of the states, they are higher than the state average quote.

This doesn’t mean to get a quote from them, but only when I queried to compare they were slightly higher than the average.

Many customers prefer them since they have a variety of coverage and financial options. 

Out of all the states in the list, they were lower in Indiana, Kentucky, and Minnesota.

Below are the states where you can get coverage through Ameriprise.

However, you can get quotes from Costco car insurance company, owned by American Family Insurance, since they bought Ameriprise auto and home services in 2019.

They offered coverage in 34 states, but American Family offers it in every state. 

State% Rate HikeAverage QuoteAmeripriseDifferenceSatisfaction Out of 5
Arizona3%$1,400$1,412+$124
Arkansas
2.3%$1,725$1,744+$194.5
California
4.3%$2,255$2,421+$1663
Colorado
5.1%$1,788$1,822+$344
Idaho 6%$1,326$1,365+$393
Illinois 5%$1,452$1,365-$874
Indiana2.9%$1,611$1,521-904
Iowa 6%$1,322$1,411+$893
Kansas 5.3%$1,348$1,310-$383
Kentucky5%$1,465$1,210-$2554
Maryland5.5%$1,789$1,821+$324
Michigan
7%$2,367$2,454+$874.5
Minnesota6%$1,689$1,521-$1684
Missouri8%$1,290$1,298+$85
Montana4.9%$1,450$1,569+$1194.5
Nebraska
3%$1,280$1,321+$413
Nevada4%$1,587$1,600+$34
New Mexico5%$1,690$1,704+$144
North Dakota6%$1,590$1,490-$1004
Ohio 5%$1,634$1,680+$464
Oklahoma
4.5%$1,400$1,446+$64
Oregon6.4%$1,890$1,900+$103.5
Pennsylvania6.7%$1,943$2,004+$613.5
South Dakota6%$1,300$1,343+$434
Texas 5.5%$1,990$1,889-$14
Utah
4%$1,354$1,400+$463.5
Virginia

3.8%$1,722$1,805+$834
Washington
6%$1,760$1,865+$1053.5
Wisconsin
4.7%$1,654$1,689+$353
Wyoming6%$1,319$1,344+$253

Quote comparison of Costco or Ameriprise - American Family Insurance.

Note: There are a few states Ameriprise is substantially lower such as Kentucky and Minnesota. If you are shopping for insurance coverage options in a certain state, do not let the illustrations inhibit you. Though they are higher than the “average premium,” you could get one substantially lower depending on your driving history and age, particularly if you are an older driver.

Added Benefits

Ameriprise offers its customers some additional benefits that, while not technically discounts on premium, can save them money over the long-term, including.

Some of the standout features are: 

– Accident forgiveness – customers who have been accident-free with Ameriprise for at least three years won’t lose their Safe Driving History discount if they experience an at-fault accident.

– Lifetime renewability – as a client, they promise they will not cancel or non-renew your car insurance policy.

– This applies to auto insurance only and is not available to drivers in Maryland or Michigan. It is not extended to policyholders who have major violations or who fail to pay a premium.

As with all insurers, coverage options and discount details vary from state to state and from plan to plan.

Final Thoughts

If you’re in the market for a new policy, you may want to take this list of discount opportunities to a local insurance agent to see if Ameriprise Financial is a good fit for you.

And have additional living expenses from the savings.

Sources

http://www3.ambest.com/ambv/

Bankrate.com

J.D. Power’s U.S. auto insurance study

National Association of Insurance Commissioners

 

Shaun Fyffe

Shaun Fyffe

Shaun is an auto insurance expert with ten years of experience as a researcher and content writer. He's fluent in Spanish, teaching it plus AP computer science at Nyack Public Schools in New York. He has a B.A. in Spanish, B.S. in computer science from Florida State University, and an M.A. from SUNY New Paltz. He also is the lead editor for AutoInsureSavings.org.

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