Amica is 10th in the 2024 Insure.com Best Car Insurance Companies ranking. The insurer gets high marks for policy offerings and a large number of customers said they will renew their policies with the company.
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Amica auto insurance is No. 10 in Insure.com’s Best car insurance companies ranking for 2024 with 3.93 stars out of 5.
Amica, the oldest mutual auto insurer in the United States, offers a variety of insurance products in addition to car insurance. These include policies such as home, renters, life, umbrella, flood insurance and more. Since Amica is a smaller company, it doesn’t cover all states. It’s a direct-buy insurance company that doesn’t have local agents. That hasn’t stopped the company from earning a reputation for top-notch service.
Eighty-four percent in Insure.com’s survey of insurance consumers, 84% of Amica’s customers said they would recommend it, the same number who said they were satisfied with their policy offerings. The insurer also offers 15 discounts, which help keep rates lower. The company had a strong A+ financial stability rating from AM Best and, among the companies in our ranking, has one of the lowest complaint scores from the National Association of Insurance Commissioners.
Below is Insure.com’s review of the company. It’s based on third-party metrics and an in-depth survey of insurance customers. Find the full methodology here, including an explanation of our survey scores.
AM Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations.
Amica runs a bit higher than average for affordable car insurance. Its monthly average rate is $185, higher than Auto Club Group (ACG) – AAA and other large insurers, such as Nationwide, Geico, State Farm and Progressive. It is slightly less expensive than Auto Club of Southern California, Farmers and Allstate.
Seventy-two percent of Amica’s customers were satisfied with the company’s customer service. That puts it in the lower middle of the companies we ranked. However, it has a higher satisfaction rate than bigger insurers such as Auto Club Group (ACG) — AAA, Travelers and Auto-Owners. Erie led this category, with 90% of its customers giving it high marks.
Seventy-six percent of Amica’s customers say they have an easy time accessing their policy information, documents and services. Erie led this category.
Amica offers 14 various policies, such as home, umbrella, and renters, in addition to auto insurance. Eighty-four percent of Amica’s respondents said they were satisfied with the companies’ policy offerings. Amica earned one of the highest rankings in this category, which Erie led. Most companies received scores in the 70th and 80th percentiles.
Erie took the top spot in this category with a score of 100%. Amica came in lower with a score of 84%.
More than 70% of Amica’s customers ranked it as trustworthy. Most insurers had room to improve in the trustworthiness category. Erie was the top-scoring insurer in the survey at 86%.
A High percentage of Amica’s customers plan on renewing their policy with the company. Erie Insurance led the category and was the only insurer in the survey to receive a 100% renewal percentage. Erie was followed by Auto Club of Southern California and Mercury, and then a tie between Amica, Progressive and State Farm at 92%.
Sixty-one percent of Amica’s customers were satisfied with how the insurer handled their claims after an accident or vehicle incident. Allstate led this category at 86% and State Farm at 85%.
The online experience is often a customer’s first impression of an insurance company, and finding necessary information, phone numbers and policy details is essential to customer satisfaction.
Forty-eight percent of Amica’s customers were satisfied with their digital experience, which was middle of the road compared to other companies. But no company did particularly well here. Geico received the highest satisfaction for digital experience at 64%.
Amica offers many discounts — 15 different options — and 60% of customers approve of Amica’s discounts. Discounts offer customers rate reductions for personal criteria, such as having a good driving history, remaining accident-free, being a good student and more. The Auto Club of Southern California led this category.
When customers bundle their auto, home and life policies, they often save on their overall premium. Erie Insurance has the highest percentage of customers giving it high marks in this category.
Amica was founded in 1907 in Providence, Rhode Island, as the Automobile Mutual Insurance Company of America. It’s the oldest mutual insurer of automobiles in the country. The company now features locations across the country. With 3,700 employees, it’s far smaller than companies like State Farm and Nationwide.
Sources:
Amica. “Car insurance coverage.” Accessed February 2024.
Insure.com in the fall of 2023 surveyed more than 1,750 insurance consumers (1,459 people with auto insurance). Online market research company Slice MR conducted the survey. Respondents were asked to name their auto insurer and then grade it in the following categories – customer satisfaction, ease of service and policy offerings. The percentage of respondents who said they were satisfied or very satisfied with their insurer is presented in the results.
Respondents were then asked to pick their insurer’s top three attributes out of more than a dozen presented – trustworthiness, claims satisfaction, digital experience, discounts and best for auto/home bundling. The responses for each attribute were totaled and then divided by the number of each company’s customers who responded to that survey question to create a percentage.
Respondents were then asked if they would recommend their auto insurer to someone else and whether they would renew with their company. The percentage who said yes is presented in the results.
Finally, respondents were given the statement “I trust my insurance company” and asked if they strongly agreed, agreed, disagreed or strongly disagreed with the statement. The percentage of those who said they agreed or strongly agreed is presented in the results.
The editors compiled the survey results and then selected – based on the number of survey responses – the top companies for further evaluation.
They then collected AM Best data, which measures financial strength, and National Association of Insurance Commissioners’ complaint data, which ranks a company by the number of customer complaints it receives. The Insure.com team identified the NAIC company code or codes that were the primary underwriting companies for each carrier and line of business using total annual premiums. The associated NAIC complaint index score was used in the calculations. If more than one underwriting company was identified for a line, the editors used a weighted average of the NAIC complaint index scores.
In addition, we also created star rankings for each company. Respondents were asked to pick their insurer’s top three attributes out of the more than the dozen presented, again including customer satisfaction and policy offerings. The number of responses for each attribute was totaled and then divided by the number of each company’s customers who responded to that survey question to create the star ranking.
The editors also collected insurance rate data from Quadrant Information Services.
With the help of Prof. David Marlett, Ph.D., Managing Director of the Brantley Risk and Insurance Center at Appalachian State University, the editors created a rating system to determine which insurance companies were best in each sector. For auto insurers, we took the following and gave each a weight.
Each insurer was awarded from half a star to 5 stars. No insurer in our star ranking received less than half a star and 5 stars was the most any insurer could receive.