Ameriprise Insurance review 2021

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Ameriprise isn’t a name you typically think of when you think about auto and home insurance, and for good reason. Ameriprise no longer sells these lines of coverage. In 2019, American Family Insurance acquired the home and auto insurance portions of Ameriprise. Policies are now sold through CONNECT, powered by American Family. However, you can still purchase disability income insurance, life insurance, long-term care insurance and annuities through Ameriprise.

Ameriprise insurance history

Founded in 1894, Ameriprise is a name long recognized in the financial services industry. Today, the company has around 10,000 financial advisors.

As of 2019, Ameriprise’s auto and home division was acquired by American Family. Now, those seeking home or auto policies can find coverage through CONNECT, powered by American Family. The acquisition allowed Ameriprise to continue focusing on what it considers its key growth areas, which are wealth and asset management and advice.

Is Ameriprise insurance still available?

Ameriprise no longer sells auto and home insurance policies. The acquisition by American Family dissolved the company’s auto and home insurance business. Coverage for auto, home and umbrella policies, among other personal insurance products, is now through CONNECT. Ameriprise does not quote, underwrite or service any personal lines policies and is not affiliated with CONNECT’s policies. Ameriprise is now solely focused on its financial advising and wealth management business, which includes life insurance products.

CONNECT auto insurance

CONNECT auto insurance policies are relatively basic in coverage offerings. However, there are a variety of discounts available and some special extras to give its policies an extra boost, such as five-month payment plans that cover six months of coverage while providing a payment-free month. A glass deductible waiver is also available.

Types of coverage

  • Liability: Liability insurance protects you if you cause damage to another driver’s car or physical injuries in an at-fault accident. CONNECT offers both bodily injury liability insurance and property damage liability insurance.
  • Uninsured and underinsured motorist coverage: Often abbreviated as UM/UIM, these coverage types help pay for injuries or damage caused to you and your passengers if you are in an accident with an uninsured or underinsured driver.
  • Medical payments: This coverage helps pay for your necessary medical expenses following a covered accident, regardless of fault. Medical payments coverage may not be available in all states.
  • Personal injury protection (PIP): In no-fault states, this coverage helps pay for expenses associated with injury or death experienced by you or your passengers, including medical expenses, lost income and funeral expenses.
  • Roadside assistance and towing: If your vehicle becomes inoperable due to situations like a dead battery, flat tire or damaging accident, roadside assistance and towing coverage could help make sure you get the services you need.
  • Comprehensive and collision coverage: Collision coverage pays for repairs to your vehicle after a covered accident, while comprehensive coverage applies to other types of damage, like falling objects, fire or vehicle theft.
  • Rental reimbursement: If you experience a covered loss and need a rental vehicle while your car is in the shop being repaired, this optional coverage could kick in to pay for daily rental fees up to your coverage amount.
  • Gap insurance: If there’s a gap between what you owe on your financed or leased car and what it’s worth following your vehicle being totaled or stolen, this insurance helps make up the difference.
  • Accident travel expense coverage: If you are involved in a crash more than 100 miles from home that makes your vehicle inoperable, CONNECT may offer additional coverage to assist with travel or accommodation expenses.
  • Stolen key expense coverage: When you purchase comprehensive coverage, stolen key expense coverage is automatically included with no required deductible for charges under $250.
  • New car replacement coverage: If your vehicle is totaled in a covered accident, new car replacement coverage helps pay to replace your vehicle with the same make and model up to 110% of the sticker value, as long as the event occurs within the first year of ownership or first 15,000 miles.

Discounts

CONNECT offers several auto insurance discounts:

  • Premier safety: Policyholders without traffic violations, accidents and claims on their record as far back as four years may be eligible for a discount.
  • Tenure: By reaching milestones related to how long you have maintained your insurance with the company, you could receive a loyalty discount to lower your premium.
  • Good student: Full-time students who maintain good grades may be eligible for this discount.
  • Student away: Students who attend school more than 100 miles away from home without a vehicle could qualify for savings.
  • Multi-policy: If you insure multiple policy types, such as any combination of auto, home and umbrella insurance, you could receive a discount on each policy.
  • Multi-vehicle: Customers who insure multiple vehicles with CONNECT could qualify for additional savings.
  • Vehicle safety features: Anti-lock brakes, airbags and other standard safety features could lower your premium.
  • Garaging: If you regularly park your vehicle in a garage overnight, this discount may be available.
  • Good driver: Offered in California, drivers could save by demonstrating safe driving habits.
  • Defensive driver: Drivers who complete a driving course approved by the state DMV or an accredited organization could see a reduction on their premium.
  • Ameriprise Financial account: If you have an account with Ameriprise Financial, you could qualify for a discount on your auto policy with CONNECT.

CONNECT home insurance

As with auto insurance, home insurance policies are provided by CONNECT and offer a similar payment plan. Homeowners could decide to break their monthly premiums into 11 equal payments, allowing for one payment-free month. Outside of the standard coverage types, such as dwelling, other structures, personal property, loss of use, liability and medical payments, there are also a handful of included coverage options not commonly found on standard HO-3 policies.

Types of coverage

  • Identity theft: This included coverage helps pay for up to $5,000 in expenses related to recovering your identity after identity theft.
  • Credit card or check card protection: This covers unauthorized use of your credit card or checks without an added deductible and is included on basic policies.
  • Food spoilage: Homeowners who experience a power outage may receive up to $500 in value for food spoiled.
  • Lock replacement: If your home is broken into, this coverage could pay for lock replacement up to $100.
  • Personal property protection package: CONNECT clients could choose a package with added benefits, such as no deductible, all-risk coverage and replacement cost value coverage.
  • Wildfire loss prevention services: Policyholders in Arizona, California, Colorado, Oregon and Washington may be eligible for this coverage, which can deploy help to your home if it is deemed to be at wildfire risk.
  • Scheduled property: This optional coverage works to provide sufficient coverage for high-value items like fine art and music equipment.
  • Earthquake insurance: Offered as an endorsement, this helps cover earthquake damage to your home and personal property, as well as debris removal.
  • Mine subsidence insurance: As homes built over mines may be vulnerable to additional damages, this insurance helps cover cracks to your home’s structure and structural collapses.

There are also several additional home insurance endorsements available, such as home media equipment, adventure equipment, personal injury and water backup and sump pump overflow. You could speak with a CONNECT agent to figure out which endorsements are best for you and your home, as well which coverage amounts are most beneficial.

Discounts

Home insurance discounts from CONNECT, powered by AmFam, include:

  • Age of home: Policies on newer homes could cost less with this discount.
  • Claims-free: If you have been claims-free for five years, you may get a discount. This discount is only offered in some states so it may be worth checking with an agent to see if it applies to you.
  • Renovation: If you have upgraded your roof or home systems such as plumbing, electrical or mechanical, your home insurance premium could be reduced. To be eligible, a licensed contractor must complete the work according to local codes.
  • Protective devices: Installing safety features, such as smoke alarms, deadbolt locks and security systems could help lower your premium.
  • Tenure: Long-term customers may receive lower premiums.
  • Ameriprise Financial account: Just like with auto insurance, policyholders who have an Ameriprise Financial account might qualify for a discount on their home policy with CONNECT.

Where does CONNECT operate?

Home and auto policies from CONNECT are available in 44 states and Washington D.C. Currently, CONNECT does not offer insurance in the following states:

  • Alaska
  • Louisiana
  • Maine
  • Massachusetts
  • North Dakota
  • Rhode Island
  • Wyoming

CONNECT is not yet available nationwide for auto and home insurance. However, coverage may expand over time.

CONNECT ratings, reviews, customer satisfaction and complaints

CONNECT, powered by American Family, is not rated with many third-party reviewers, but it did rank as the second-best provider in California in the 2021 J.D. Power U.S. Auto Insurance Study. CONNECT, itself, is not rated in any other region for auto insurance, nor was it included in the 2020 J.D. Power U.S. Home Insurance Study. However, American Family is. AmFam’s auto insurance ratings vary by location. Additionally, its home insurance was ranked just slightly below the industry average.

CONNECT is not rated by AM Best or Standard & Poor’s (S&P) for financial strength, but American Family receives an A (Excellent) financial strength rating from AM Best and an A financial strength rating from S&P. These ratings could help affirm that American Family is able to pay out claims.

However, the National Association of Insurance Commissions (NAIC) reports a much higher-than-average complaint index score for CONNECT. A 1.00 score represents an industry-average number of complaints. CONNECT’s score is 6.30, meaning that the NAIC received over six times as many complaints about CONNECT than average.

Reasons why CONNECT is a good option

CONNECT could be a great choice for customers with Ameriprise Financial accounts, since there is a discount to be had on both auto and home policies. You may also want to get a quote from CONNECT if you are looking for a host of discounts and a few unique coverage options.

However, CONNECT’s high NAIC complaint index score may deter policyholders looking for a company with excellent customer service. If you want to handle your coverage in person, CONNECT may not be the best fit. Its policies are sold and managed exclusively online. However, for policyholders who prefer digital management, CONNECT could be a good option.

Frequently asked questions

Does Ameriprise still offer home and auto insurance?

No. Ameriprise’s home and auto insurance business was acquired by American Family in 2019. CONNECT, powered by American Family, now offers auto and home insurance policies. You may choose to get a quote from CONNECT, as the provider does offer several competitive discounts that could help you secure a great rate.

What do I need to get a quote from CONNECT?

For an auto insurance quote, you’ll need the name, date of birth and driver’s license number for each driver in your household, as well as the vehicle identification number (VIN) for each vehicle you’d like to insure. For home insurance, you’ll need your name, date of birth and potentially your Social Security number. You should also be prepared with information about your home, like the year it was built and how old the roof is. You can get quotes online or by calling CONNECT directly.

How do I file a claim with Ameriprise?

As with most insurers, CONNECT insurance claims can be filed online or by phone. You’ll need to have your policy number, as well as your name and other identifying information. When you are filing the claim, whether it’s for auto or home, you’ll need some basic details like what happened, when the event occurred and the extent of the damages.

Written by
Cate Deventer
Insurance Writer & Editor
Cate Deventer is a writer, editor and insurance professional with nearly a decade of experience in the insurance industry as a licensed insurance agent.
Edited by
Insurance Editor