Cost & Coverage
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Amica features one of the best homeowners insurance products in the business, offering flexible policies, outstanding customer service, and a near-flawless claims process.
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THE BOTTOM LINE
Amica may be the standard-bearer in property insurance, offering a wide range of products at affordable rates with top-notch customer service. Amica’s exceptional work hasn’t gone unnoticed either, as they won J.D. Power’s top prize for home insurance customer satisfaction for a staggering 18th year in a row in 2019. Amica also took the top spot in J.D. Power’s property insurance claims study for the eighth year in a row.
AMICA COMPANY SPOTLIGHT
5 out of 5
A trusted customer satisfaction and product quality research agency
A nonprofit organization focusing on marketplace trust and product quality
100-year-old U.S. credit rating agency focused on the insurance industry
Best-in-class claims handling. A good reason why Amica is the most decorated company in the world of homeowners insurance is because their impeccable reputation when it comes to handling insurance claims. Amica policies may be a little more expensive than other major carriers, but you’re paying for a level of service and expertise that’s unmatched in the industry.
Outstanding perks, including a dividend program and network of contractors. Amica offers several perks, like their “Contractor Connection” service and multiple discount opportunities. Another perk of joining up with Amica is their dividend program — a perk that's offered by very few, if any, other insurance companies. With the Amica dividend program, you pay more for your policy up front, but since the payment is invested as a dividend, a portion is refunded to you at the end of your policy term.
Personal belongings are insured at their replacement cost. With Amica, the stuff inside (and outside) of your home is automatically insured at its replacement cost, meaning if your watch is damaged or stolen, you'll be reimbursed for the value of a new watch (up to the item sublimits) rather than for its depreciated value. Most companies charge extra for replacement cost coverage, but with Amica it's included in the base policy.
Certain types of additional coverage offerings and perks (like dividend policy payments) aren’t available in some states. If you live in California, Florida, Missouri, and North Carolina, you can't take advantage of Amica's dividend program. Certain coverage endorsements are also limited depending on the state your home is in. In New York, for example, Amica won't give you the option (at least in the online application) to add valuable items coverage, loss assessment coverage, or business property coverage. That said, we must stress that it's pretty common in the home insurance industry for companies to be choosey about where they offer specific types of coverage.
Coverage endorsement offerings are rather limited. As good and reliable as Amica's coverage is, they don't offer some of the more popular coverage endorsements — like equipment breakdown coverage, service line coverage, and guaranteed replacement cost dwelling coverage.
While the price of homeowners insurance with Amica will depend on factors like where you live, your home's construction type, and the age of your home, you can expect to pay in the ballpark of $2,000 annually for coverage with Amica — according to the average rate for 10 homes we ran quotes for on the Amica website. That means Amica home insurance rates are about 20% higher than the average quoted policy with Policygenius.
Rates are particularly impacted by your home's replacement cost, or the insured value of your home. Below is the average cost of homeowners insurance at different levels of coverage with Amica.
|Amica coverage amount||Amica annual premium|
Average annual homeowners insurance premiums for each coverage level were calculated by taking the average rate for 10 homes we ran quotes for through Amica.
A great way to keep your homeowners insurance costs down is to take advantage of discount opportunities.
Some common discounts include protective devices discounts, claims-free discounts, and new home-buyer discounts. Amica offers all of those discounts, plus a multi-policy disount if you get more than just one type of insurance with Amica and a detection devices disount if your home is fitted with gas or water leak sensors or similar loss prevention technologies.
Homeowners insurance protects your most important financial assets, so you'll want to be sure you're insuring your home, your personal possessions, and other assets with a company that will be able to pay out your claim in the event of a disaster.
Amica has been around for over 100 years and has well-established financial strength with A.M. Best, the leading insurance company credit rating agency. With Amica, you can insure your home with confidence that they'll be able to cover your assets.
Standard & Poor's measures companies' creditworthiness and is used primarily by financial investors and other market stakeholders. S&P is also valuable in measuring the long-term financial stability of insurance companies. An AAA rating is the highest issuer credit rating assigned by S&P.
Moody's is very similar to Standard & Poors, except rather than measuring a companies ability to remain financial stable and creditworthy, Moody's measures what the expected losses would be if a company were to go into default. It's particularly valuable in analyzing the value of stocks and bonds with certain companies. An AAA rating is the highest possible score you can receive from Moody's.
A.M. Best is the most reliable credit-rating tool insureds can use to gauge the financial health of a particular company. Unlike S&P and Moody's, A.M. Best is focused exclusively on the insurance marketplace. A good score with A.M. Best means a company is more likely to fulfill their financial obligation to you when it comes time to file a claim. With a score of A+, Amica has the second highest rating a company can receive with A.M. Best.
It's important to know what experts think about homeowners insurance companies - but it's also good to know what actual customers and consumer sentiment sites are saying, too.
Amica has a perfect 5 out of 5 with leading consumer insights company J.D. Power. It also has stellar ratings with the Better Business Bureau, Consumer Affairs, Consumers Advocate, and Trustpilot.
J.D. Power provides studies that rate insurance companies across policy offerings, price, clarity of billing and policy information, interaction, and claims. An overall satisfaction score, "based on how customers view every experience of their experience with homeowners insurance providers," is reflected here and used for our ranking.
The Better Business Bureau ranks companies across a large swath of criteria. While consumers can submit ratings to the BBB, these scores are not taken into account in their rating, although tangential metrics that take into account customer experience are.
Consumer Affairs is a platform that lets consumers directly rate companies, while Consumers Advocate rates companies based on stability, reputation, and policy coverage.
The National Association of Insurance Commissioners tracks the number of complaints submitted to state insurance departments with their national complain index. A score of 1 is the baseline average, and a score of 0 means there weren't enough complaints to count.
Amica offers two homeowners insurance coverage packages that provide all of the primary coverages: dwelling, other structures, personal property, loss-of-use, personal liability, and medical payments coverage.
Amica's base policy includes replacement cost for your personal belongings and gives you the option of adding a number of additional coverage endorsements — like personal computers coverage and identity fraud coverage — to your policy. Amica also features a higher tier of homeowners insurance that includes extended replacement cost dwelling coverage and a number of additional coverage endorsements.
Here's some of the highlights of each of the two coverage tiers offered by Amica:
Note: The information above represents potential policy options and may not be available for every applicant. Speak to a licensed expert for a personalized look at your coverage options.
Amica is available in every state except Hawaii, has exceptional claims handling and numerous digital tools to manage your policy, file claims, and pay your bill.
Amica homeowners insurance is available in 49 states and the District of Columbia. Hawaii is the only state where Amica doesn’t currently offer policies.
Amica may not promise you a quote in five seconds, but they still make the process fairly easy. Most of Amica’s application process can be done online.
You simply answer a form that asks basic questions about your insurability and if you’d like to bundle home and auto policies, and then you’re led to a page where you input information about your home’s specs, your proximity to fire stations and hydrants, and other applicable information.
You then select how much, if any additional coverage you’d like, like if you’d like water backup coverage, or computer coverage, or identity theft coverage, for instance. Amica then runs your quote, which they provide within seconds, along with instructions to call an agent to discuss your plan further. The entire process took about five to 10 minutes.
Amica excels mightily in the claims department, an area that seems to be the Achilles’ heel of so many other companies that sell home insurance. As we've already pointed out, Amica received a five out of five claims satisfaction rating with J.D. Power — the highest in the industry. Amica has also earned high marks from Consumer Reports, which is a reputable consumer insights website in its own right.
Amica offers an easy claims filing process, allowing you to submit losses through the insurers mobile app, on the web through their “claim center”, or over the phone. You can also check on how Amica is handling your claims through their claims tracker, which you can easily monitor through their app, on the web, or over the phone.
Once your claim is accepted, Amica can put you in touch with a contractor through the company’s network. One perk of going through Amica for repairs is that they’re paired with a warranty.
Policygenius offers insurance policies from many of the nation's top insurers, who pay us a commission for our services. However, all editorial choices are made independently.
Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.
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Yes, we have to include some legalese down here. Read it larger on our legal page. Policygenius Inc. (“Policygenius”) is a licensed independent insurance broker. Policygenius does not underwrite any insurance policy described on this website. The information provided on this site has been developed by Policygenius for general informational and educational purposes. We do our best efforts to ensure that this information is up-to-date and accurate. Any insurance policy premium quotes or ranges displayed are non-binding. The final insurance policy premium for any policy is determined by the underwriting insurance company following application. Savings are estimated by comparing the highest and lowest price for a shopper in a given health class. For example: for a 30-year old non-smoker male in South Carolina with excellent health and a preferred plus health class, comparing quotes for a $500,000, 20-year term life policy, the price difference between the lowest and highest quotes is 60%. For that same shopper in New York, the price difference is 40%. Rates are subject to change and are valid as of 2/17/17.
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