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Ameriprise (Costco) Car Insurance Review

Ameriprise Financial was founded in 1894, and it owns an auto & home insurance subsidiary. Ameriprise Home & Auto Insurance is located in Green Bay, Wisconsin. The auto insurance company is a subsidiary of the American Family Insurance Mutual Holding Company. The main branch is located in Minneapolis. 

The Ameriprise Financial company prides itself on providing customer’s needs. They have a legacy of “putting clients first”. Smart investing is the company’s motto, and it translates to their car insurance branch. They want customers to be able to pay for the coverage that they deserve.

Ameriprise’s Coverage Options

Keep in mind that Ameriprise separates home and auto insurance. Comprehensive accidents within a garage, for example, is not covered by Ameriprise home insurance. 

Ameriprise considers a driver at-fault in cases of negligence. A driver is found to be at-fault if they fail to be cautious and cause an accident. Ameriprise explains that even unintentional accidents may cause an at-fault situation.

Comprehensive Coverage

Ameriprise covers most comprehensive situations. Most no-fault driving accidents are insured. This includes vandalism, cracked windshields, fire, natural disasters, and tree limbs. Certain insurance companies separate animal coverage, but Ameriprise includes damage from animals in their comprehensive insurance.

Ameriprise also recommends comprehensive coverage for vehicle storage. They explain that homeowners insurance does not cover a stored vehicle. If damage comes to your car while in storage, comprehensive coverage is the best way to get repairs. 

Bodily Insurance Coverage

Ameriprise separates bodily insurance coverage from liability coverage. This type of coverage protects the other driver medically and financially. Ameriprise may not cover every liability cost in the event of an at-fault accident. Purchasing bodily insurance coverage on top of liability coverage gives the customer full protection from legal liability.

Bodily injury coverage insures liable medical fees for the other driver. A lawsuit or lost wages are covered under Ameriprise’s bodily insurance coverage. It also covers funeral costs in the event of death. 

Personal Injury Protection

Think of personal injury protection like bodily insurance coverage. The difference is that the coverage is for you instead of the other driver. Personal injury protection covers your hospital bills, lost wages, and funeral expenses.

Some states require customers to front a percentage of personal injury costs. This makes bills hefty, especially in the case of serious damages. Ameriprise recommends combining the costs of your assets to determine how much personal injury protection is needed.

Uninsured Motorist Coverage

Sometimes, customers get hit by uninsured motorists. A lack of liability insurance means that the at-fault driver cannot pay for damages. This leaves the policyholder with unpaid damages. Uninsured motorist coverage bridges the gap between no coverage and full insurance.

Uninsured motorist coverage includes medical bills and repairs. Use uninsured motorist coverage with an uninsured at-fault driver.  There are also some cases where the at-fault driver’s insurance company may not fully cover the costs of a serious accident. 

Sometimes, another motorist’s liability does not cover medical expenses or lost wages. Ameriprise’s uninsured motorist coverage fills the gaps in coverage. 

In some states, uninsured motorist coverage is required. Minimum coverage depends on the state. Ameriprise recommends uninsured motorist coverage because “1 in 8 drivers are uninsured”.

J.D. Power Review

Ameriprise checks out on most fields with customers. Overall satisfaction is above average. Customers find that Ameriprise supports its customers and is an excellent financial leader. 

However, financial advisors also report that Ameriprise is below average on compensation. It seems that they have issues getting fair pay for their work. 

A.M. Best Review

A.M. Best considers Ameriprise to be financially stable. They are not the absolute best, but their financials check out. The review company commends Ameriprise for its easy-to-recognize brand and excellent marketing strategies. The review company also states that Ameriprise is susceptible to financial erosion if they do not tighten their financials.

Clearsurance Customer Reviews

Ameriprise only has 15% below average reviews from customers. Generally, customers are satisfied with Ameriprise’s claims and policies. The insurance company is helpful towards small and big claims, and their customer service is satisfactory. Most happy customers like their rates.

Below average reviews claim that Ameriprise is hard to contact. Communication seems to be the main issue. Some customers state that the company fails at effectively informing the customer on claims. The claims department seems to be an issue with multiple customers due to high volume. 

Pros & Cons

Pros

  • Easy to navigate website
  • Excellent coverage explanations
  • Transparent pricing 
  • Unique discount offerings
  • Flexible billing options (including monthly and annually)
  • Variety of coverage options available
  • Well-trained customer service agents

Cons

  • Doesn’t reward its most loyal customers
  • Keeps very traditional hours
  • Claim estimates are often non-negotiable
  • Wait times can be lengthy