7 things to know about Amica Insurance

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Looking for a new auto insurer who gets high marks for customer service and pays you back as a customer? You may want to give Amica Insurance a try.

Amica routinely wins praise from many popular consumer tallies of the best of the insurance industry.

Here’s what you need to know about Amica auto insurance

While Amica can be a great option for affordable coverage, the insurer will generally only take you if you have a clean driving record.

In this article, we’ll take a look at what exactly Amica Insurance offers, what discounts are available to customers and more info you’ll want to know before you switch your coverage.

Things to know about Amica Insurance: Table of contents

1. Who owns Amica Insurance?

Amica Mutual Insurance Company was established in 1907 and is the oldest mutual insurer of automobiles in the United States.

As a mutual, Amica is owned by its policyholders. That means there are no outside shareholders that it has to please. So you, as the customer, is at the center of everything Amica does.

But because Amica Mutual is a mutual company, it tends to be relatively expensive to join the first year.

So that first year, with the higher upfront costs, is basically you “buying into” the company. After that, customers typically get an annual premium rebate, subject to how the company is doing financially. And money expert Clark Howard says that extra money you pay early on could be money well spent.

“Sometimes you’re better off paying a little more to be with a quality insurer who will be there when the chips are down,” Clark says.

2. How good is Amica?

Clark lists Amica as one of his top three picks for car insurance in his guide to the best and worst auto insurance companies.

Furthermore, the company was named as a top pick in J.D. Power’s look at regional top performers in the 2018 U.S. Auto Insurance Study.

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3. What discounts does Amica offer drivers?

Amica offers a full range of discounts for drivers who qualify. Along with old standbys like paid-in-full, auto pay and e-billing, these are some other discounts Amica offers drivers:

  • Loyalty – Available to customers who stay with Amica for at least two years
  • Multi-Line – Savings of up to 15% when you add a home, condo, renters, life or umbrella policy
  • Multiple auto – Saving of up to 25% when you insure two or more vehicles
  • Claim-free – Discount available when you go three years without a claim
  • Legacy – Discount available to drivers under 30 whose parents have had an Amica auto policy for five years
  • Defensive driver training – Must complete approved course
  • Good student – Discount available to high school and college students ages 18-25 who maintain a B average

4. What is an Amica dividend policy?

In addition to traditional auto insurance policies, Amica offers dividend policies. With a dividend policy, you get money back at the end of the year. This return of premium can be between 5% and 20% of what you paid during the year.

However, payments are not guaranteed and the exact amount is based on a variety of factors.

Furthermore, Amica dividend policies are not available in the following states:

  • California
  • Florida
  • Hawaii
  • Massachusetts
  • Missouri
  • North Carolina
  • New Jersey
  • Texas

You can read more about Amica’s dividend policies here.

5. How much will Amica pay for rental reimbursement after an accident?

Need to rent a car after an accident? Amica has you covered for the cost of a rental.

Most policies offer $20 per day for up to $600 total, though coverage varies by state. More info here.

6. Does Amica offer accident forgiveness?

The short answer is yes, but the system is kind of complicated.

Amica makes accident forgiveness available through its Platinum Choice Auto program, which is not available in all states. The system is complex and involves racking up Advantage Points. These points can be used to prevent your premium from going up after a claim.

There are three main ways to accumulate these points:

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  • Going for a year without any accidents or tickets
  • Referring family and friends to Amica
  • Having or renewing existing policies

You can read more about the Platinum Choice Auto program here.

7. What other kinds of insurance products does Amica offer?

Amica offers a full range of insurance products, including:

  • Home
  • Life
  • Condo
  • Renters
  • Motorcycle
  • Umbrella

Final thought

Amica auto insurance does a good job serving safe drivers who are looking for affordable coverage.

If you don’t qualify for Amica or want to look at other options, be sure to check out our guide to the best and worst auto insurance companies.

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