A.T. Vigneron founded Amica in Providence, Rhode Island back in 1907. At its inception, Amica offered a variety of coverage for the American people like fire and theft insurance. But the company mainly focused on servicing new drivers during the initial boom of the automobile industry, thus its name: The Automobile Mutual Insurance Company of America (Amica). In 1914, it expanded its offerings by chartering the Factory Mutual Liability Insurance Company of America. This chartered partnership gave Amica customers the opportunity to receive liability insurance for the first time. In 1956, Amica changed its name to Amica Mutual Insurance Company while expanding its reach to homeowners, marine, and personal liability insurance coverage. Amica continued to grow at a steady rate over the next few decades and by the mid-2010’s, Amica had expanded to 44 offices across the nation, moved its headquarters to Lincoln, Rhode Island, and offered auto insurance policies in every state except Hawaii.
As the oldest mutual automotive insurer in the country, Amica has had over a century to learn, grow, and adapt to automotive trends and consumer needs. Throughout this robust timeline of experience, Amica has openly declared its mission is to build a trusting relationship while providing the best service possible for its policyholders. The company – while smaller in size than competitors like Geico and Progressive – seems to hold true to their mission, as the auto insurer is considered by many to offer a top-notch customer service experience. The old auto insurer does not necessarily capture a shopper’s attention with major marketing campaigns, but the level of customer service and the available auto insurance policies provide enough quality, versatility, and confidence to deserve a look when shopping for car insurance.
Lastly, Amica is a mutual insurance company, meaning it sells both traditional and dividend auto insurance policies. Dividend policies can pay as much as 20% of the annual premium back to the policyholder, but are not guaranteed every year nor offered in every state.
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Types of Coverage from Amica Car Insurance
Amica’s basic offerings include property damage liability, bodily injury liability, comprehensive, collision, and under- and uninsured motorist insurance. The company also provides a handful of free and unique perks. These include lock replacements, repairs for glass damage, and repairs on any deployed airbags within the insured vehicle. Other available perks include lost wage reimbursement if you go to court at Amica’s request, plus up to $1,000 for bail bonds if deemed necessary. While Amica does not offer it in every state, depreciation will not be taken into account if your new vehicle is totaled within the first year of ownership.
For those who need additional auto insurance coverage, the company offers a multitude of add-on options at extra cost. You can bundle these services by purchasing the Platinum Auto Choice. This premium insurance package contains the following options:
- Accident Forgiveness: Through Amica’s Good Driving Rewards, policyholders can earn what the company calls Advantage Points which can be used to lower your deductible after an accident. With enough Advantage Points, you can keep rates from going up after a claim. Policyholders can earn Advantage Points by maintaining a good driving record every year while covered by Amica, referring new qualifying customers, and signing up for or renewing an existing Amica insurance policy. If you have more than one vehicle insured under a Platinum Auto Choice package, you can accrue even more Advantage Points by the same qualifying benchmarks.
- Full Glass Coverage: This add-on varies by state. It fully covers replacements of your vehicles’ glass surfaces in the event they are damaged or shattered. You have the freedom to select your own glass repair shop or receive a lifetime guarantee from an Amica-certified shop.
- Identity Fraud Monitoring: This extends beyond just the world of car insurance, and offers an added layer of protection from identity theft. With this added to your policy, Amica will monitor your credit files and personal information around the clock. If the company suspects any unusual activity regarding your credit profile, it will alert you within 24 hours. Amica will also connect you with a fraud specialist to receive expert assistance and up to $15,000 to help resolve the issue.
- Rental Reimbursement: This grants you coverage for a rental car should your vehicle be in the shop due to a covered accident. With the Prestige Rental coverage, you will receive up to $5,000 towards your comparable rental car with no daily limit. For those with non-Prestige coverage, most auto insurance policies offer $20 per day and up to $600 total depending on the state and policy.
- Roadside Assistance: With this coverage you will receive services like non-accident towing, flat tire changing, fuel deliveries, dead battery jump starts, and assistance should you lock yourself out of your vehicle.
Depending on your insurance policy, these extra insurance options may be added to your policy as needed.
As is customary with auto insurance companies, individual quotes and pricing depends on a combination of factors. These include personal information, credit score, driving history, and state of residence. Quotes will also reflect any additional coverage selections or add-on services. So, make sure you do your research and determine your auto coverage needs before applying for a quote from Amica.
Read more in our How Car Insurance Works article.
Amica Car Insurance Discounts
Amica offers generous auto insurance discounts in line with big market competitors like Geico. Its discounts are separated into three categories: policy related discounts, vehicle related discounts, and driver related discounts.
Amica’s policy-related discounts are quite common among auto insurance companies today. Policyholders who remain claim-free for three years are among those who qualify for policy savings. You may also save by either paying your entire policy premium in full, or by signing up for automatic payments and electing to receive your account information electronically. If you combine policies like auto and homeowners insurance, you may qualify for Amica’s multi-line discount, which could save you up to 30%.
Depending on your insured vehicle, you may be able to snag discounts based on the vehicle’s safety equipment. Qualifying installed features include airbags, adaptive headlights, forward collision warning system, and anti-theft alarms.
Lastly, Amica puts a premium on its driver-related discount offerings. You can qualify for this discount by completing an accredited defensive driver training program. There are also discounts for full-time students that maintain a grade point average of 3.0 and are between 15 and 25 years old.
Other Types of Policies From Amica
The company’s three main silos of coverage are auto, home, and life insurance. However, you can find a swath of diverse Amica policy offerings beyond the main three. These other offerings include renter’s, flood, marine, pet, motorcycle, plus wedding and event insurance.
You can also find small business and retirement coverage for extra peace of mind. Umbrella coverage is available as well to help you find the right coverage strategy for yourself and loved ones.
Amica Financial Fitness
The company recently received a Superior A+ rating from AM Best for its financial strength, which is the highest rating AM Best provides. At year end of 2019, Amica had roughly 1.57 million policies in force with $5.4 billion in assets and nearly $2.8 billion in surplus which includes $161 million in net income.
While formidable and financially strong, Amica is a much smaller car insurance company than State Farm, Geico, or Progressive. Combined, these behemoths control roughly 41% of the car insurance market share and wrote about $1.04 trillion in auto insurance premiums in 2019.
Other Insurance Brands Related to Amica
Amica Mutual Insurance Company is not affiliated with any other brand or insurance company. Subsidiaries include Amica Life Insurance Company, Amica Property and Casualty Insurance Company, and Amica General Agency, LLC.
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The Cheapest Car Insurance Companies in 2020
Average Annual Rates:
- USAA: $885
- Geico: $1,168
- State Farm: $1,234
- Travelers: $1,267
- Progressive: $1,373
- American Family: $1,391
- Farmers: $1,682
- Nationwide: $1,864
- Allstate: $1,880