Amica Mutual Insurance – Here’s What You Need to Know

Amica Mutual Insurance

Amica Mutual Insurance was Founded in 1907 as the Automobile Insurance Company of America, Amica Mutual Insurance was based in Providence, Rhode Island, and offered automobile, theft, and fire insurance. Owned by policyholders rather than stockholders as a mutual company, the company expanded its insurance portfolio to include umbrella, home, condo, renters, marine, motorcycle, wedding and event, pet, small business, flood, retirement, and life insurance. With its present-day headquarters presently located in Lincoln, Amica Mutual Insurance has 44 branches across the United States.

For those who cannot visit a location in person due to COVID-19 restrictions or other reasons, customers and future customers are encouraged to use the Amica website where all services are available online or by phone. All online and telephone services are also provided in Spanish for those who may feel intimidated purchasing insurance in English.

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.

Who Owns Amica Mutual 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.

 How Good is Amica Mutual Insurance?

Insurance Diaries 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.

 What Discounts Does Amica Mutual Insurance 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

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.

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.

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:

  • 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.

What Other Kinds of Insurance Products Does Amica Offer?

Amica offers a full range of insurance products, including:

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

Why Choose Amica Mutual Insurance?

  • With over 100 years of superior customer service, they hold themselves to a higher standard that gives their customers confidence.
  • Amica received an A+ (Superior) rating for financial strength and claims payment ability from A.M. Best Company.
  • Ranked by J.D. Power as Highest in Customer Satisfaction with the Property Insurance Claims Experience, 8 Years in a Row.
  • Amica earned 4.5 out of 5 stars from NerdWallet’s ranking of the best car insurance companies.
  • Amica is dedicated to you through every step of life’s journey – asking the right questions, anticipating your needs, and providing peace of mind.

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