You can protect yourself from losses caused by burglary or natural catastrophes by purchasing a house insurance policy. Without a policy in place, these situations can put a strain on your finances, leaving you without a place to stay and no way to pay for temporary housing.
Choosing the best home insurance provider for your needs necessitates a thorough examination of coverage, pricing, and availability, among other factors.
Read this Amica Homeowners insurance review to learn more about how it works, its pros and cons.
What Is Amica Home Insurance?
Though its name isn’t as well-known as its competitors’, Amica is the United States’ oldest mutual automobile insurer — hence its name, which is derived from Automobile Mutual Insurance Company of America.
With a market share of approximately 1%, it is among the top 20 largest home insurers, having been founded in 1907.
It’s also a force to be reckoned with when it comes to customer satisfaction, having received the highest JD Power rating for property insurance claims experience for the past 18 years.\
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What are the Advantages of Amica Home Insurance?
- Amica offers dividend policy choices, which allow you to invest your policy premium as a dividend. A percentage of your premium will be repaid to you at the end of your policy term, which will help you offset the total amount you spend.
- Ability to get a quotation online: Unlike some of its competitors, Amica lets you get a comprehensive quote after filling out an online application form that only requires a light credit check that won’t harm your credit score.
- Discounts on premiums can be obtained in a variety of ways: There are presently eight options for lowering your insurance premiums.
What are the Drawbacks?
- Not all states have this option: Alaskans and Hawaiians are not eligible for insurance.
- The dividend policy is not offered in all of the states we serve: The payout program will not be available to residents of California, Florida, Missouri, or North Carolina.
- Popular endorsements like equipment breakdown and service line coverage aren’t covered in the limited coverage endorsements.
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Available Amica Home Insurance Coverage Plan
Amica writes all of its homeowner’s insurance policies directly. The following items are included in its regular coverage:
1. Coverage for Dwelling Replacement
This section of your policy covers your home’s physical structure, such as the roof, walls, garage, and sunroom.
Amica will restore or replace the affected structure in the event of damage caused by fire, hail, lightening, theft, vandalism, or wind. If the cost of repairing or rebuilding your house exceeds your policy’s coverage limits, Amica will pay an additional 30% above your maximum.
2. Coverage of Other Structures
Qualifying occurrences or covered losses do not affect detached structures on your property, including fences, garages, and sheds.
3. Coverage for Personal Property
Amica provides worldwide coverage for valuable items such as furniture and electronics that are damaged or stolen. You’ll be covered for the amount of coverage you choose. Items can be repaired or totally replaced.
4. Personal Liability Insurance
If a guest is inadvertently harmed while on or around your property, your coverage pays for eligible medical bills.
Hospital stays, ambulance rides, and surgical operations are all examples of medical expenses. It also includes coverage in the event that a guest claims property damage.
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5. Coverage for Loss of Use
Amica will cover additional living expenditures, such as storage rental and food bills (if they’re deemed higher than average), as well as temporary housing, such as hotel rooms if your home is deemed unfit to live in and damaged by a covered loss.
How Much Does Amica Home Insurance Cost?
According to the Insurance Information Institute, Amica’s monthly cost of $94 is even lower than the national monthly average of $101.
The cost of Amica home insurance is determined by a number of factors, including the value of your home, its size, and construction materials, where you live, the coverage limits you choose, the insurance deductible you choose, and more.
Amica has a dividend program in most states. While your policy may cost more upfront, the money is invested as a dividend, and a portion of the money is returned to you at the end of the policy period.
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Are There Available Discounts on Amica Home Insurance?
Amica provides a number of discounts to help you save money on your homeowner’s insurance:
- Bundling multiple Amica insurance policies results in a discount. It’s ideal for people who already have an Amica auto insurance policy.
- Claim-free: Get a discount if you haven’t filed a claim in over three years. It’s ideal for first-time homebuyers or those who haven’t had any recent perils or losses on their previous policies.
- E-discount: Receive all billing and policy information electronically and receive a discount. This offer is ideal for those who want to pay their bills online.
- Autopay: Get a discount by setting up auto-pay for your insurance payments. It’s great for people who don’t want to worry about paying their bills on time every month.
- Discount if you have been with Amica for at least two years. Homeowners who are happy with their Amica coverage can save even more money by renewing it twice.
- Installed burglar alarms, fire alarms, and sprinklers are eligible for a discount. It’s ideal for homes with additional security and safety features.
- Water and gas leak sensors are eligible for a discount on automatic detection devices. It’s an additional cost-cutting opportunity for homes with additional leak protection.
- New and refurbished homes are eligible for a discount. It’s ideal for people who have just refurbished their homes as well as first-time homeowners looking for newly built homes.
State-by-State Amica Home Insurance Availability
Amica offers house insurance in 47 states. The insurance company does not cover homes in the following areas:
- Alaska
- Florida
- Hawaii
Amica Insurance Company Plans
Amica also offers the following plans in addition to auto, house, and life insurance:
- Umbrella insurance is a type of coverage that protects you against
- Insurance for condominiums
- Life insurance is a type of insurance that protects
- Insurance for small businesses
- Renters insurance is a type of insurance that protects tenants
- Insurance for the seas
- Insurance for motorcycles
- Automobile, motorbike, and boat insurance
- Insurance for weddings and special events
- Insurance for small businesses
- Insurance against flooding is available.
- Insurance for pets
- Annuities
Amica Home Insurance Customer Reviews
Amica is accredited by the Better Business Bureau, which has given it an A+ rating. Customers, on the other hand, give Amica 1.5 out of 5 stars. Common complaints on Amica’s Better Business Bureau page include increased insurance costs and difficulties canceling coverage. Increased pricing is mentioned in reviews, yet nice and knowledgeable customer service is also mentioned.
Here’s what some of our customers had to say about their Amica experience.
Ted stated,
“I’ve had Amica as my house and auto insurance provider for at least seven years. I’ve always been satisfied with the way my issues and claims have been handled. When it comes to resolving a claim or any other issue, they are always incredibly professional and pleasant to work with. I would strongly advise anyone searching for a vehicle or home insurance to contact this firm.”
Kimberly M. expressed her thoughts as follows:
“I’ve had an Amica homeowners insurance coverage for over four years and have never had a claim. During a front porch makeover last year, some severe dry rot was discovered, and a minor claim ($5,000) was processed. My coverage is about to expire, and I received a letter from Amica claiming that they have opted not to renew my policy owing to my excessive claims. I’ll have to look for a new insurance company now, and I’ll be sure to read their reviews on this site before making any judgments.”
What Is Covered by Amica Homeowners Insurance?
A conventional homeowners policy protects your home and other structures from fire and other natural disasters. Standard coverage also includes loss-of-use protection, which pays for living expenses if your house is rendered uninhabitable as a result of a claim; personal property coverage, which covers your furniture, clothing, and other personal belongings; and medical and liability coverage.
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What Isn’t Covered by Amica Homeowners Insurance?
A conventional homeowners policy does not cover earthquakes, floods, identity theft, goods worth more than a specific amount, water backup, or the replacement of a home or personal property. All of these coverages are available for an additional fee.
Amica Home Insurance: Is It Right for You?
Amica is not one of the country’s largest home insurance providers, and it is not offered in all 50 states.
However, in the areas where it is offered, it offers a great range of coverage and discount options, and it is one of the most economical home insurance companies we have researched. Contractor Connection and a dividends program are two significant benefits.
Amica, on the other hand, does not use local insurance agents, is not available statewide, and its benefits vary by state.
The dividend program is available to homeowners in most Amica-covered states, but not in North Carolina, Missouri, or California.
How To File An Amica Claim
Amica home insurance claims can be submitted online, through the Amica app, or over the phone at 800-242-6422. Contact the police and make a report before filing a claim for stolen property.
File a claim as soon as possible after a loss. After filing a claim, contact a contractor for a repair cost estimate. If the process necessitates a visit from an adjuster, a claim handler will contact you.
Frequently Asked Questions about Amica Home Insurance
Amica provides comprehensive house insurance coverage in 47 states, as well as a variety of discounts. However, the corporation does not employ local agents, and the benefits vary by state.
The acronym AMICA stands for Automobile Mutual Insurance Company of America.
In its most basic coverage, Amica home insurance covers the house, personal goods, personal liabilities, additional living expenses, and medical payments to guests. Credit card and water backup coverage, among other things, are included in extended coverage, or endorsements.
Amica, like most house insurance providers, does not include flood or earthquake coverage in its basic plans. Catastrophic coverage, on the other hand, is available for an extra fee.
Amica isn’t known for being an expensive insurance company. In fact, its average car insurance rates are well below the national average.
https://www.amica.com/en/products/home-insurance.html
Conclusion
If you’re looking for insurance, AMICA is a fantastic company to look into. The organization has good client reviews and ratings, as well as a large range of products, discounts, and generally low rates. However, if you require immediate, in-person assistance, Amica may not be the best option.
References
- https://www.nerdwallet.com/blog/insurance/amica-home-insurance-review/
- https://www.moneygeek.com/insurance/homeowners/reviews/amica/
- https://www.investopedia.com/amica-home-insurance-review-5075561
- https://www.thisoldhouse.com/home-finances/21425853/amica-home-insurance-review
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