Our verdict: Amica offers three tiers of home insurance policies and assists you in selecting the best for you. Its agents are only available via phone and online, but provide outstanding customer support.
Although the company is primarily focused on providing excellent auto insurance, Amica home insurance is equally good. It further offers Personal Excess Liability and marine coverage. Amica is famous for its financial strength and is continuously recognized for its exceptional customer service.
Amica Mutual Insurance company was established in 1907 and has a few subsidiaries, like Amica Life Insurance and Amica Property and Casualty Insurance, that all operate successfully.
In our review, you can find information about what Amica’s policies cover, related discounts, and how it compares to other successful insurance providers in 2021.
Amica Home Insurance Pros and Cons
Every company has some flaws identified by its customers. To help you decide on whether Amica is a good fit, here is a list of its strongest and weakest sides.
Pros
- Quick claims process
- Professional agents
- Low rates for several types of policies
- Fewer-than-average customer complaints
- Contractor connections
- Diverse discount options
Cons
- No local agents
- Not available in all states
Amica Homeowners Insurance Product Overview
What we loved about this company is the straightforwardness of its official website — it’s easy to navigate, and you can get all the answers there. When it comes to home insurance, you can explore several benefit options, such as the dividend program, which can get you back up to 20% of your annual premium.
Getting a quote for your home insurance is convenient — you can use the online tool or reach out to an agent via phone. Also, you can personalize your Amica homeowners insurance policy to your specific needs.
The standard home insurance policy covers the dwelling, other structures, personal property, loss of use, and personal liability.
Features
The options for home policy and other related coverages include:
Homeowners — Standard, Extended, and Platinum
There are three kinds of policies available with Amica. The standard one covers the basics — dwelling damage from hail, fire, or wind. It also features other detached structures and loss of use if your home is unsuitable for living and personal property and liability coverage.
The Extended Amica homeowners insurance provides more comprehensive options, such as:
- Dwelling replacement coverage
- Valuable items coverage
- Personal property replacement
- Catastrophic coverage
- ID fraud expense coverage
- Home business protection
You can add any of the features of the Platinum options to your standard insurance policy, but their availability varies by state. They include dwelling and personal property replacement, water backup, computers, and credit cards coverage.
Furthermore, Amica’s Platinum Choice home policy also offers protection for business property in and away from your home, coverage for jewelry or other valuable items, loss assessment plan, and liability and medical payment.
Condo
The building association covers only building exteriors and common areas. That’s why condo insurance by Amica can protect your walls, personal items, and appliances.
The Standard condo insurance covers:
- Dwelling
- Personal property
- Loss assessment
- Loss of use
- Debris removal
- Theft
- Liability
The additional coverages are fully customizable and include:
- Computer coverage
- Personal property replacement
- Scheduled personal property
- ID fraud coverage
ID Theft
The ID fraud and theft protection is a standard feature on Amica’s home insurance coverage, so we decided to briefly explain what it entails.
If anyone steals your personal information, they might gain control of your bank accounts, take unlawful loans and credits, and cause financial damage. With Amica’s ID theft add-on, you will receive up to $15,000 to resolve the identity theft issues.
You’ll receive an expert’s assistance with documentation, contacting credit bureaus, and filling out police reports and affidavits. You’ll also enjoy credit and fraud monitoring and help once a year if your wallet or purse gets stolen.
Home Business
If you’re operating a business remotely, Amica home business insurance is worth considering. It may help cover your necessary equipment, whether it’s personal or company’s, and provide work-related liability protection if you’re accepting visitors on your property.
Flood
Floods are a common issue across the US, and purchasing flood insurance is a good call, especially if you live in a high-risk flood zone. Plus, there are many ways in which water can damage your property. However, water and flood damage require two separate coverages.
You can’t purchase a standard Amica flood insurance as an add-on. Instead, Amica can connect you to the National Flood Insurance Program to obtain this type of coverage. If you’re looking for a more comprehensive deal, Amica can assist you in protecting additional belongings.
It’s essential to note that your premium will depend on the flood risk, the age of your home, your deductible, and the amount of purchased coverage. Still, Amica allows you to create a personalized policy to fit your budget. This insurance becomes effective 30 days after you buy it.
California Earthquake Coverage
There’s no specific Amica earthquake insurance, but it can assist you in getting such from a third party. It recently partnered with the California Earthquake Authority to provide essential coverage to its customers.
While the CEA provides the policies, the Amica CEA Earthquake Center will send all bill payments, and Amica will still handle all claims.
Other Home Insurance Policies
There isn’t any information available regarding Amica manufactured home insurance policies. Usually, companies provide such coverage either as an add-on or part of the property policy. If you’re looking for this kind of insurance, it’s best to reach out to Amica directly.
Financial Strength
Based on the Amica 2020 annual report, the company saw an improvement in its combined ratio. It paid out $90 million in COVID-19 premium relief to its customers. Its net income was $178 million, and investment income was $174 million. At the end of the year, Amica had $5.7 billion in assets.
Both Amica’s home insurance rating and its subsidiary, Amica Life’s, from A.M. Best were Superior for financial strength in February 2021. It also got an A++ rating by S&P. Considering this data, Amica is financially sound, and you shouldn’t have any issues with your claims.
Customer Service
Amica doesn’t have local agents to sell the insurance policies. There’s a dedicated section on its website where you can contact a representative, create your account, and manage billing, payments, or file a claim. Amica’s insurance customer service has among the best ratings on the market.
Based on user reviews, people are happy with Amica’s services. Customers consider Amica’s agents respectful and helpful. They work fast, and many customers had their policies activated within minutes.
Unfortunately, some policyholders had a poor experience with Amica a few years back. They complained about unfriendly agents and their claims being denied. However, Amica’s home insurance customer experience seems to be excellent these days.
- WalletHub — 3.4
- Clearsurance — 4.2
- Valuepenguin — 90%
- NerdWallet — 5
Insurance Cost
The cost of your home insurance policy is tied to many factors. Amica is not available in all states, and some locations will require you to have additional insurance that can significantly increase your premium.
You can check Amica’s home insurance prices with the online quoting tool. Amica also offers a dividend program. Still, to be entirely sure about the offer, you should call a representative.
Based on reviews, Amica’s monthly premium in some states is lower than the national average but higher in others. Therefore, you might have to pay between $94 and $161 monthly, depending on your location.
Even with its highest prices, Amica is still cheaper than many other insurance companies on the market.
Amica Home Insurance Discounts
If you want to purchase property insurance with Amica, the following discounts will help you save. Not all of them, however, are available nationwide.
Dividend Policy
The dividend policy lowers your overall policy cost by paying back up to 20% of your annual premium. Amica offers flexible dividend payment options you can choose from.
Multi-line
You can save up to 20% by bundling home and auto insurance. You can also combine condo, renters, life, or umbrella policies to lower your Amica home insurance quote.
Loyalty
If you’ve been with Amica for two years or longer, you can qualify for the loyalty discount. The more time you spend with the company, the more you can save.
Claim-free
If you had no claims in the last three years, you might be eligible for this discount. That is a great opportunity for new homeowners and those who haven’t suffered any damage.
AutoPay
By using automatic deductions to pay your premium, you might qualify for an AutoPay discount and lower your Amica home insurance cost.
E-discount
Signing up to receive your bills electronically can also get you a deal at Amica. E-discount is excellent if you’re a tech-savvy customer.
Alarm System
If you own any security systems, like fire alarms or sprinklers, you’ll be eligible for a discount.
New/Remodeled Home
This discount is ideal for people who have recently remodeled or purchased a new home.
Automatic Detection Devices
If you secure your home with a temperature monitoring system or water or gas leak detection system, you’ll receive this discount.
Amica Home Insurance Quote Comparison
Even though your final home insurance quote depends on various factors, some providers are more affordable than others. Let’s see how Amica compares to other insurance companies.
Amica vs. Allstate
The cost of your home insurance with Amica depends primarily on your location and home construction type. However, Amica offers a variety of discounts so you can save on your premiums and its dividend-type policy returns a percentage of your costs. The average yearly Amica homeowners insurance quote is $1,940.
Allstate is another acclaimed insurer in the US with excellent discounts. Its rates of about $1,600 are slightly lower than the national average.
Amica vs. Progressive
The cost of homeowners policy with Progressive depends on the providers it works with. Based on the 2019 data from the company’s website, Progressive’s network’s annual home insurance policy ranges from $676 to $2,044.
Just like Amica home insurance, prices of Progressive home insurance policies vary by state. For example, Virginia is a medium-cost state with a $101 monthly cost on average. On the other hand, Florida is a high-cost state, and the average monthly price is $140.
Overall Competition Comparison
We’ll compare Amica’s financial strength and the quality of customer service to its competition for you to decide whether this insurer is the right fit.
Allstate vs. Amica
Amica is known for its outstanding customer support. The reviews are positive, and according to the policyholders, it has friendly agents who go above and beyond in helping the customers select the best Amica home insurance.
Allstate offers competitive rates, various discounts and is on the list of the nation’s largest and oldest insurance companies. Allstate’s insurance is available nationwide, but Amica doesn’t offer services in some states.
Allstate has remained financially stable throughout its history, and A.M. Best gave it an A+ rating. Its subsidiaries also appear to be economically sound. Similarly, Amica Mutual and its subsidiary, Amica Life, received a Superior rating for financial strength from A.M. Best.
GEICO vs. Amica
GEICO became known for its car insurance, but today it provides multiple kinds of policies. The company operates as a broker that matches customers with suitable providers. With it, bundling auto and homeowners policy is an ideal solution.
GEICO has an A++ (Superior) rating by A.M. Best, just like Amica. Its S&P ratings for corporate credit and the financial strength of its subsidiaries are AA+. Many research institutes and expert groups recognize GEICO for its financial stability and performance.
Amica vs. State Farm
State Farm sells its policies through local agents, and its services are available in all 50 states. Besides the standard homeowners insurance coverage, you’ll have a choice of a variety of other policies and discounts.
Overall, customers are satisfied with State Farm, and A.M. Best ranks it an A++. Based on a company report from 2020, State Farm saw growth in multiple lines of business.
Its life insurance companies paid out almost $600 million in dividends to policyholders, and the State Farm P-C group of companies earned a premium of $65.1 billion.
Expert Thoughts
A standard Amica home insurance covers the dwelling, other structures, personal property and liability, and loss of use. Additionally, Amica offers multiple tiers of property policies, and its agents are ready to assist you in picking the most suitable one.
Amica is known for its financial strength and exceptional customer service. A.M. Best gave it a Superior rating, and S&P ranks it with A++. Amica is financially sound, and you shouldn’t experience any troubles with your claims.
Amica is not available nationwide, and the cost of its insurance policies in some states may also surpass the national average. However, with the available discounts and high-quality customer support, Amica is definitely worth considering.
People Also Ask
Amica offers auto, homeowners, marine, and personal excess liability coverages. It’s a well-known company with excellent customer service. A.M. Best ranks it with A+, and numerous customer surveys claim it’s an exceptional company.
Amica provides a range of homeowners insurance policies that will satisfy everyone’s needs. It surpasses multiple competitors with its customer service. Due to its financial strength, Amica has no issues in paying out customers’ claims.
Amica is one of the oldest insurers in the US. While it’s known for auto insurance, its other policies are also worth considering.
Amica’s customer satisfaction rates are high, and it has a low number of customer complaints. Furthermore, it offers significant deals to those who want to combine auto and home insurance.
Amica outperforms many competitors as it offers some of the most affordable rates for homeowners insurance. However, your annual premium mostly depends on the location of your home.
USAA services are oriented exclusively towards military personnel, while Amica offers coverage regardless of your employment. USAA has some of the best customer satisfaction rates in the industry and excellent prices.
Amica offers a variety of insurance products even though it is not among the largest companies. It has high customer satisfaction rates and is suitable for customers who want to bundle car and home insurance policies.
Both companies offer standard home insurance plus a few add-ons.
Amica doesn’t provide the services of local agents. Still, a friendly and efficient customer service representative, who you can reach by phone or email, is always available to answer your questions about claims or coverage.
Amica also continuously keeps you informed about your application, policy changes, claims, or other transactions. Its team works directly with you, and there’s no middle agent involved in the basic policies. You can also use its official website to log in and keep control over your account.
Multiple factors determine the cost of your insurance policies. Some examples are the location of your property, deductibles, the age and value of your home, proximity of the fire station and a body of water, and similar.
Amica takes all that and more into consideration when calculating your premium. If you decide to include add-ons, the price will likely be higher than for the standard policy. Amica also offers discounts, but their availability varies by state. The average yearly premium is $1,939.
Amica is aware that not all customers require the same type of home insurance. That is why it offers the standard policy with the option to include additional coverage. It protects the dwelling, personal property, loss of use, personal liability, and other structures.
Extended home insurance policies are available to make your plan more personalized. It covers dwelling and personal property replacement, valuable items, ID frauds, catastrophe, and home business. Besides these two Amica home insurance options, you can consider its Premier Home Coverage.
