Ameriprise Home Insurance Review 2020

Last modified: November 20, 2020
  • Claims 8.5
  • Buying 7.5
  • Transparency 8
  • Coverage Variety 8
  • Value For Money 8.5
  • OVERALL RATING 8.1
  • Financial Strength A
  • BBB Rating A+
  • Coverages 4/5
  • Flexibility Policy customization possible
  • Discounts 5/5
  • Support email, fax phone
  • User Ratings Lower than average
  • Availability 44 states and Washington, D.C.
  • Pricing Variable

With a little bit of planning, you can definitely minimize damages to your home from unforeseen accidents and natural disasters. A homeowners insurance policy can help you protect your house, your possessions, and obtain additional benefits provided you’ve chosen the right insurance. 

Here, we compile Ameriprise home insurance reviews into a comprehensive read to give you an accurate overview of the company, its services, and benefits.   

About the Company

Ameriprise is a financial services company that provides financial planning, financial investment advisory, insurance, annuities, bank, and cash management services. 

In its insurance portfolio, the company offers life insurance, individual major medical insurance, long-term care, auto, home, and disability income insurance. 

The company began operations in 1894 under the leadership of John Tappan. The company’s motto is to uphold integrity, the company’s core value, in all operations. The company has over 2 million clients, individual and institutional combined.       

Ameriprise Insurance address states the company is headquartered in Minneapolis, Minnesota. It has a network of over 10,000 financial advisors and a wide network of authorized insurance and annuity sellers across the United States.    

Ameriprise is a public company with various subsidiaries. The company’s affiliates have headquarters in Minneapolis, New York, Boston, and London.    

How We Reviewed

To get as accurate a review as possible, we follow an extensive procedure. 

  1. First, we browse through the company’s website to get details about the services offered, location, and coverage types.     
  2. Next, we ask for quotes in different conditions to get an idea of the pricing structure.
  3. We study the Ameriprise insurance rating on major rating platforms.   
  4. Lastly, we analyze information on the company’s financial strength.   

Where Is It Available

The company sells insurance in 44 states and Washington, D.C. Here is a list of the states served by Ameriprise insurance company:   

  1. Wisconsin
  2. West Virginia
  3. Virginia
  4. Vermont
  5. Utah
  6. Texas
  7. Tennessee
  8. South Dakota
  9. South Carolina
  10. Pennsylvania
  11. Oregon
  12. Oklahoma
  13. Ohio
  14. North Carolina
  15. New York
  16. New Mexico
  17. New Jersey
  18. New Hampshire
  19. Nevada
  20. Nebraska
  21. Montana 
  22. Missouri
  23. Mississippi
  24. Minnesota
  25. Michigan
  26. Massachusetts
  27. Maryland
  28. Kentucky
  29. Kansan
  30. Iowa
  31. Indiana
  32. Illinois
  33. Idaho
  34. Hawaii
  35. Georgia
  36. Florida
  37. District of Columbia
  38. Delaware
  39. Connecticut
  40. Colorado
  41. California
  42. Arkansas
  43. Arizona
  44. Alabama
  45. Washington, D.C.

Besides this list of Ameriprise Insurance states, the company provides services in Washington, D.C. Ameriprise Insurance is now a part of American Family CONNECT Property and Casualty Insurance. The company provides insurance services via the CONNECT network. Ameriprise Financial and its subsidiaries have headquarters in Minneapolis, Boston, New York, and London.

Homeowner Insurance Review

With Ameriprise’s condo and homeowners insurance, you get coverage for the structure and your personal possessions, and identity theft check fraud. It provides all the traditional coverage options as well as some other unique ones. With Ameriprise home insurance you get:   

  • Dwelling coverage 
  • Mine subsidence insurance
  • Medical payments coverage
  • Loss of use coverage
  • Homeowners endorsement
  • Personal liability insurance
  • Earthquake coverage
  • Scheduled personal property coverage 
  • Personal property coverage

With the medical payment coverage, you get insurance for any injury a guest incurs on your property. It provides you with insurance for any accidental damage or harm you end up causing to a guest on your property.               

The scheduled personal property coverage option allows you to get insurance coverage for specific personal possessions. You will have to purchase that separately along with your homeowners insurance.   

Mine subsidence insurance ensures your home is protected against damage in case it is built over an abandoned coal mine and the land shifts. Get mine subsidence coverage is essential in states where abandoned or filled coal mine sites are abundantly present.          

The coverage can include protection for the structure of the house, any foundation cracks, and even the whole house if the structure collapses.   

With the homeowners endorsement feature, you can get additional coverage for things not covered in the regular policy. You can get coverage for media equipment (home electronics), sports or adventure equipment, sump overflow, and water backup coverage that are not a part of the original homeowner’s policy. 

You can also purchase personal injury endorsement at an additional price that offers protection for a variety of things, including:

  • Wrongful eviction
  • Libel per se
  • Defamation of character
  • Slander
  • Malicious prosecution
  • Invasion of privacy
  • Wrongful entry
  • False arrest
  • Detention

The company offers a wide range of coverage options, including a lot of unique options that not many companies include. 

Home Insurance Pricing

As is the case with most other insurance companies, the Ameriprise insurance quote also varies by state or region. Different states have different requirements for what is to be included in the basic homeowner’s policy, and thus, the prices vary. 

To get a quote, you can visit the company’s website, add in your zip code, select home insurance, and click on get a quote. It will redirect you to another page where you will fill in details about your property type, residence use, provide your address, and answer a few other questions to get a personalized quote. 

Home Insurance Discounts

With Ameriprise discounts and benefits, you can enjoy extensive coverage at great prices. The company offers various discounts, including traditional options like claims-free and multi-policy, that many companies offer. 

If you buy auto and home policies from Ameriprise, you can get a bundle discount. You also get reduced prices for pairing other insurance services. You also end up paying less if you don’t file a claim for a set number of years which is at least five years. 

Some other discount options include:

  • Protective devices discount – Taking extra security measures to ensure your house is protected against burglars and fire hazards can pay off when you purchase insurance. You can get reduced prices on your insurance policy if you install smoke alarms, sprinkler systems, security alarms, and deadbolt locks in your home.
  • Age of home discount – If your house is newly built, you pay a reduced premium and can get substantially lowered prices. 
  • Renovation – The company may even offer you a discount if you’ve recently replaced your roof, heating, air conditioning, and ventilation system, or renovated your electricity and plumbing system.
  • Tenure discount If you’ve been an Ameriprise customer for a long time, you get rewarded in the form of discounts. The exact tenure and discount stipulation depends on the state you live in.  

The company also offers other advantages and benefits such as no deductibles or appraisals, no individual itemization required, claims paid at replacement value and all-risk coverage. Not everybody qualifies for all benefits, and you will have to check with the company to see if you are eligible or not.

Customer Satisfaction and Financial Strength Review

Ameriprise auto and home Insurance is BBB accredited. Ameriprise has an A+ BBB rating which shows the excellent financial strength of the company. Similarly, Ameriprise has an ‘A’ rating by AM Best.

As per the company’s website, Ameriprise was rated #1 in terms of customer satisfaction in 2017 according to the Temkin Group Loyalty Index. The majority of the reviews of the company on the BBB platform were negative, and it has a 1 out of 5 star rating in terms of customer satisfaction.   

Customer Support

For all insurance-related queries, you can reach out to Ameriprise customer service or connect via email phone or fax.     

You can call the company’s customer service from Monday to Friday, from 7:00 a.m. to 10:00 p.m. or on Saturday from 8:30 a.m. to 7:00 p.m. according to the Central Time Zone timings.   

You can also send your queries to the company via general mail, or overnight mail options. Numerous customer testimonials on the site praise the professionalism of the company’s customer service.

Ease of Buying and Claims Handling

As per various testimonials on the company’s website, the company has an excellent policy purchasing and claims handling process.   

The Ameriprise insurance claims phone number is 888-554-6368, and the email address is csc@connectbyamfam.com. You can file for a claim 24/7 all year round. To file for a claim, you can reach out to the company via phone or email.       

Make sure to include your claim number in all your correspondence. You can also submit the complaint, claim request, and additional documents via mail. You have the option to send them via General Mail or Overnight Mail.    

  • For General Mail, send your documents to:  
    • CONNECT, by American Family Insurance 
      PO Box 19018     
      Green Bay, WI 54307-9018 
  • For Overnight Mail, you can reach out to the company at:
    • CONNECT, by American Family Insurance 
      3500 Packerland Drive 
      De Pere, WI 54115-907

The Ameriprise Insurance claims process is very straightforward. The customer service takes their time answering all the questions clients may have as per customer testimonials. The exact claims processing time depends upon the when the claim was filed and whether there are other legal entities involved in the claims processing.

Comparison With Competitors

Ameriprise Insurance vs USAA

USAA has superb financial strength ratings from multiple organizations but it provides insurance services exclusively for serving and retired military officials, their spouses and children if they qualify. 

It is quite expensive and does not offer diverse coverage options. Ameriprise gives more options for customizability, discounts, and benefits, including discounted prices Costco membership. 

Ameriprise Insurance vs Allstate

Ameriprise is cheaper than Allstate and is ideal for people of all ages. It also ranks better than Allstate in terms of customer satisfaction and reliability. Ameriprise has better financial strength, offers a wide range of coverage options, and various unique features that give it an edge over Allstate.

Ameriprise Insurance vs Mercury   

Mercury compares poorly to Ameriprise. Mercury has lower than average customer satisfaction ratings and has a higher number of home insurance complaints than is expected for the size of the company. 

Ameriprise, on the other hand, has excellent customer service reviews which give it an edge over its competitors.    

Ameriprise Insurance vs Liberty Mutual    

According to J.D. Power home insurance survey, Liberty Mutual has average customer satisfaction, customer service and claims handling ratings. Its overall performance ratings are also about average. Much like Ameriprise, it has a vast range of coverage options, discounts and benefits.

 

Pros & Cons

The Pros

  • Excellent customer service - The company’s customer support network is extremely responsive and has many positive reviews.
  • Good insurance options for lower value homes - Ameriprise offers a wide range of services and allows customers to personalize their policy which is ideal for people with lower value homes.
  • Bundling options - Shoppers looking to bundle all their insurance policies together can purchase all essential insurance policies via Ameriprise and get major discounts. The company offers tenure discounts, multi-policy discounts and other benefits to its loyal customers.

The Cons

  • You can’t make a claim online. If you want to file a claim, you’ll have to call an agent.
  • The company has no mobile tools.

Final Verdict

Ameriprise is a highly reputable company with an A+ rating from BBB. It also has favorable customer reviews and investment ratings by other rating agencies including AM Best, and Moody’s.

Ameriprise sells its insurance products via Costco. If you are a Costco member, you can be eligible for a discount on your Ameriprise auto, home insurance or other insurance purchases. Overall, it is a good deal as it can get you substantial discounts.      

FAQs

Is Ameriprise owned by Costco?

No. Ameriprise partners with Costco wholesale to sell its insurance policies. In other words, Costco is a certified seller of Ameriprise insurance.

Is Ameriprise cheaper than GEICO?

Yes. On average, GEICO customers pay about 40% higher prices on their 6-month policy than Ameriprise customers do.     

Does Ameriprise have high fees?

The price of your Ameriprise policy depends on the location of the house and the coverage types you select. Overall it offers pretty affordable rates for everyone, including homeowners of low-value property. 

Is Ameriprise fee-based?

Ameriprise financial services are fee-based. The overall cost and fee are based on the number and types of services you opt for and the total worth of assets under management. Ameriprise home insurance reviews show that the average fee for financial services falls in around 2.25% to 3.5%, which is pretty affordable.