AMICA HOME INSURANCE REVIEW 2023: Coverage & Services

Amica Home Insurance’s wide range of coverage options and high customer satisfaction rating make it one of the best home insurance providers. With the exception of Alaska and Hawaii, its insurance products are offered across the whole US from its headquarters in Rhode Island.

To assist you in understanding the products and services that Amica Home Insurance offers, Business Yield reviews its coverage plan information and costs in this article.

About Amica

Originally known as the Automobile Mutual Insurance Company of America, Amica is a Rhode Island-based company that was founded in 1907. Amica currently provides a wide range of insurance products, including retirement annuities, auto, life, pet, renters, and small business insurance, in addition to house insurance.

Amica Home Insurance Reviews

In the case of a loss that renders your house temporarily uninhabitable, Amica’s Standard Choice policy covers your residence and any other structures on your property, personal possessions, and the expenses related to temporary accommodation. Options include insurance against damage to computer equipment and coverage for water backups.

All of the coverages of the regular policy are included in the Platinum Choice policy, along with extra benefits. These consist of expanded coverage for certain categories of property, such as jewelry, and increased coverage for rebuilding or repairs. Additional advantages include extended coverage for damage to business property and protection against credit card theft.

Furthermore, Amica provides both dividend and non-dividend policy options. Dividend plans give policyholders a percentage of their premiums back; they are not offered in California, Florida, Missouri, or North Carolina. Bundling house insurance with auto insurance or other policies, receiving discounts for being a loyal client, and receiving discounts for safety measures like sprinkler systems are some more methods to save money on an Amica policy.

Pros and Cons of Amica Home Insurance

Here are some important benefits and drawbacks of Amica Home Insurance:

Pros

• Finding a licensed contractor for repairs is made easier with the help of Contractor Connection.
• Policyholders have access to numerous options and add-ons to personalize their coverage.
• Annual premiums for dividend policies typically yield a return of between 5% and 20%.

Cons:

• Each state has different incentives, coverage options, and availability.
• Clients are unable to deal with independent or local insurance agents.

What does Amica Home Insurance Cover?

Amica’s home insurance policies include these standard coverage types:

#1. Dwelling coverage 

covers the cost of maintaining and replacing your home and any related buildings (such as a porch or deck).

#2. Other structures coverage

covers the cost of maintaining or replacing buildings like fences and detached garages that aren’t a part of your home.

#3. Personal property coverage

compensates for lost or stolen personal property.

#4. Liability insurance 

covers unintentional property damage and other people’s injuries for which you may be held legally responsible. It also covers legal defense costs in the event that an occurrence covered by your homeowners policy results in a lawsuit against you.

#5. Loss of use

This covers expenses like lodging and dining out, in the event that a situation covered by your policy (such as a fire) prevents you from living in your house. Another name for this coverage is additional living expenses.

Additional Amica Home Insurance Options

Amica provides clients with home insurance with a number of add-on coverage options that are optional:

#1. Dwelling extended replacement cost coverage: 

offers an extra 30% toward home rebuilding or repairs in the event that expenses surpass the policy’s maximum. This might occur if building and material costs rise sharply following a natural disaster in your region (like a wildfire).

#2. Personal property replacement coverages

This covers the whole cost of replacing your possessions in the event that an issue covered by your policy causes damage to them.

#3. Special computer coverage 

offers more comprehensive protection against issues like power surges, heat warping, and water damage for smart devices, including phones, laptops, tablets, and smart TVs.

#4. Water backup/sump overflow

covers damage resulting from water backups and sump pump overflows.

#5. Amica’s Platinum Choice Home Insurance

Customers of Amica Home Insurance can decide to buy a Platinum Choice policy, which combines many coverage options. This covers the previously mentioned coverage types in addition to the following:

#6. Business property coverage 

increases your coverage limits to $5,000 for home-based business property and $2,000 for property located outside of your home (coverage limits vary by state).

#7. Valuable items extended coverage 

provides greater protection against lost or stolen personal belongings, like watches, jewelry, and furs.

#8. Liability and medical payment coverage 

This enhances the coverage for medical costs and liabilities. The additional coverage amount varies by state and policy.

#9. A loss assessment plan extends coverage 

for assets at your principal house that you do not own outright, like shared spaces in a gated neighborhood or apartment building.

#10. Credit card coverage 

covers up to $5,000 in the event that your credit cards are taken and used illegally.

Amica Home Insurance Cost

The following variables will affect the cost of your quote:

#1. Location: 

If you reside in a state that frequently suffers from tornadoes, hurricanes, extremely high temperatures, and other natural catastrophes, you might anticipate insurance prices higher than the national average. Your rates are also impacted by the danger of theft and vandalism associated with local crime rates.

#2. Size: 

Depending on the size and value of your house, your insurance may be more or less expensive than that of your neighbors. Your home’s rebuilding or repair costs will increase with its size and value, and insurance companies will charge you extra to cover it.

#3. Age of the home: 

Older homes are prone to damage and need maintenance, and they frequently lack essential components that newer homes have that increase durability and safety. The age of your roof has a significant impact on how much your house insurance will cost. 

#4. Customization of policies: 

Amica will give you a price at first, but you can ask for adjustments that will vary the cost. Premiums will increase with greater coverage limits, smaller deductibles, and add-ons like the ones mentioned above. You can bundle numerous policies or sign up for AutoPay and automated invoicing to help reduce your rate.

#5. Personal information: 

When generating insurance quotes, insurance companies take your credit score and claim history into account. Higher insurance premiums could be the consequence of a low credit score, while a strong credit score and no history of claims will benefit you.

Note that customers of Amica can select between a standard or dividend policy in the majority of states. Although a dividend policy has higher upfront costs, it typically returns dividends to policyholders in the range of 5% to 20% of yearly premiums. The same coverage is provided by both types of home insurance policies.

Amica Home Insurance Cost Comparison

Amica’s homeowners insurance rates are higher than many of its top competitors, based on the companies analyzed by Forbes Advisor.

What Homeowners Insurance Discounts does Amica offer?

You can be eligible for the following homeowner insurance discounts if you have an Amica policy:

#1. Claim-free. 

A homeowner who hasn’t submitted a claim in the last three years is eligible for this discount.

#2. E-discount. 

This discount is available to policyholders who choose electronic document delivery.

#3. Autopay. 

You can get this discount by automatically paying your premiums.

#4. Loyalty. 

You may be eligible for this discount if you have been a customer of Amica for at least two years.

#5. Multi-line. 

To save up to 30%, combine your homeowners insurance with your renters, vehicle, condo, life, and umbrella policies.

#6. Alarm system. 

This discount is available to homes equipped with automated sprinkler systems, fire alarms, or burglar alarms.

#7. Automatic detection devices. 

Homes with temperature monitoring systems, gas leak detection systems, or water leak detection systems qualify for this discount.

#8. New/remodeled home credit. 

This discount applies to new homes or newly remodeled homes. 

Note that states may differ in terms of availability and discount rates. Therefore, you should consult an Amica representative to learn about the savings that come with the discounts you are eligible for. 

How do I File a Homeowners Insurance Claim with Amica?

On the Amica website, you can submit a home insurance claim by phone, through the mobile app, or through online chat. To file a claim, take the following actions:

• If your claim involves a crime like theft or vandalism, first contact the police and file a police report.
• Contact Amica as soon as you can. File your claim either online using the chat function, on the mobile app, or by calling and speaking to a representative.
• Document the incident with photos and video where possible.
• Repair any damage that could cause more harm to your home, and keep receipts for any work.
• Amica will assign a claim handler to you and may send an adjuster to view the damage.

How Do I Buy Amica Homeowners Insurance?

Amica policies can be obtained online, via phone, or in person from an Amica agent. To purchase a home insurance coverage from Amica, take the following actions:

#1. Prepare your information.

It’s best to have your information ready before you start. Personal data such as your name, date of birth, social security number, and details about your previous insurance policies, including claims and company information, must be provided. Aside from that, you’ll need information about the house itself, such as its address, age, kind of roof, age of utilities (heating, plumbing, etc.), number of rooms and bathrooms, etc.

#2. Request an estimate.

Amica has a number of ways to request a quote. You have three options: give them a call, request an online quotation, or speak with an Amica agent. The more prepared you are, the more smoothly this process will go.

#3. Assess the need for coverage

It could be better to speak with an Amica agent over the phone or in person if you’re unclear about which insurance you want or the coverage you require. They can assist you in choosing the ideal coverage and policy for your household and individual requirements.

#4. Decide on a plan and purchase

It’s time to purchase your policy after deciding on the kind and coverage. Amica will advise you on the best course of action for completing the details of your policy.

Amica Home Insurance vs. Competitors

#1. Amica vs. State Farm

Amica does not offer home insurance in Hawaii or Alaska. Massachusetts, Rhode Island, and California do not sell house insurance coverage from State Farm.

In terms of the quantity of typical discounts offered, Amica surpasses State Farm. Policyholders with either business can install security and safety systems, including alarms, and save money by taking advantage of discounts. The same is true, among other things, of discounts that are claim-free and that reward loyal customers. However, Amica also provides savings on home insurance for newly constructed or remodeled properties, as well as an “e-discount” for consenting to receive invoices and policy documentation online.

Furthermore, Amica is more costly. Amica’s sample monthly rate is $167, whereas State Farm’s is $89 per month.

Lastly, State Farm gets an A++ rating from AM Best, while Amica has an A+ rating.

#2. Amica vs. Allstate

Both Amica and Allstate provide loyalty programs and discounts for combining house insurance with other policies. Policyholders who choose electronic document delivery from Amica receive a discount; this is not the case with Allstate. Amica does not provide a discount for a history of on-time payments, although Allstate does.

In all 50 states, neither choice provides home insurance coverage. In Alaska and Hawaii, Amica does not write policies, and in California, Allstate is not available.

Allstate is the more costly option, with a $264 monthly charge, while Amica goes for $167. 

Note that AM Best has rated Amica and Allstate with an A+.

Is Amica Homeowners Insurance good? 

Amica Home Insurance is a fantastic option for a house insurance company with excellent customer service. Additionally, this organization provides numerous payout alternatives and a comprehensive online claims center. It even collaborates with the Contractor Connection initiative to assist homeowners in locating trustworthy, certified contractors to handle repairs around the house.

However, Amica’s prices are frequently higher than those of its rivals, and it is not offered in Alaska or Hawaii. While comparing quotes and shopping around is usually a good idea, it becomes even more crucial if you’re on a limited budget.

Is Amica Insurance good at paying claims? 

Amica has an A+ rating from AM Best, indicating that the company has sufficient financial stability to cover claims. 

Clients have four options for submitting a claim: online, via the Amica mobile app, via phone, or via chat with the Amica virtual assistant. Homeowners have access to a claims messenger, a photo tool, and an online document uploader. Additionally, Amica pays claims through PayPal, Venmo, paper checks, bank accounts, and debit cards.

Who has the most expensive home insurance?

When it comes to dwelling coverage amounts of $500,000 and $750,000, Shelter is the most costly house insurer. However, note that prices differ greatly between businesses since they all utilize different pricing formulas. This implies that when purchasing a policy, it’s critical to compare prices for homeowners insurance.

Why choose Amica? 

Amica’s A+ rating from AM Best indicates that it has sufficient financial stability to cover claims. To assist the business in handling and paying claims, Amica provides a number of web-based solutions for online claims services. Additionally, Amica’s best asset is frequently mentioned as being its customer service, particularly its claims procedure.

Why did Amica go for 6-month policies? 

Amica’s primary goals are to remain financially stable and provide the best rates in each region. A shorter policy term enables us to react to shifting market conditions faster and makes sure you’re getting the greatest coverage at the most affordable cost. Instead of occurring every 12 months, rate revisions will now occur every six months. This implies that you can begin saving money sooner if any rating elements are altered in a way that will result in a lower premium. Additionally, clients find it easier to qualify for our paid-in-full discount because six-month insurance has a smaller overall cost.

Who owns Amica? 

A.T. Vigneron established the Automobile Mutual Insurance Company of America (AMICA) in 1907.

Is Amica an American company? 

Amica is the oldest mutual insurer of automobiles in the United States.

Does Amica have a cancellation fee? 

Amica will charge a cancellation fee if you choose to cancel your house insurance and are currently on your payments. However, you will be required to pay a non-refundable $29 fee if you don’t pay your policy and it gets canceled.

Does Amica Home Insurance cover termite damage?

Like most basic policies, Amica homeowners insurance usually excludes coverage for termite damage. This is because termites can seriously harm the structural integrity of your house, necessitating expensive repairs.

Does Amica Homeowners Insurance cover theft?

A basic Amica homeowners insurance policy provides coverage against theft, but valuables could need further coverage.

Does Amica Home Insurance cover roof leaks?

Roof repair is covered if a covered weather event damages the roof. Maintenance-related leaks are not.

It’s possible that coverage extends to damages caused by roof leaks. Check with your insurance provider for confirmation, as there can be limitations depending on your particular coverage or state laws.

Does Amica Home Insurance cover tree damage?

A typical Amica homeowners policy will cover damage from trees falling due to wind.

Does Amica Home Insurance cover dog bites?

A basic Amica homeowners insurance policy might cover a small dog bite to a guest, but larger or more aggressive dogs might benefit from additional coverage, which is available.

Does Amica Home Insurance cover personal liability?

Certain medical and liability coverage for visitor injuries is included in Amica homeowners standard insurance.

Does Amica Home Insurance cover fire?

Amica offers fire insurance as a part of their standard policy.

Does Amica Home Insurance cover insect damage?

Generally speaking, insect damage is not covered by Amica homeowners insurance and is regarded as a maintenance issue.

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AMICA AUTO INSURANCE REVIEW 2023

AMICA RENTERS INSURANCE REVIEW 2023

References:

US News

MarketWatch