Ameriprise Ratings Review: Financial Services and Insurance

Ameriprise is a well-established financial services company that offers a range of products, including insurance, investments, and retirement planning.

Ameriprise has received high ratings from various organizations, including the Better Business Bureau (BBB) and the National Association of Personal Financial Advisors (NAPFA).

The BBB has given Ameriprise an A+ rating, indicating that the company has a strong reputation for resolving customer complaints.

Ameriprise has also been recognized as one of the top financial services companies in the country by NAPFA, which has awarded the company a 5-star rating.

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Ameriprise has a decent reputation for customer service, but your experience may depend on what protection you're buying.

The company gets few customer complaints for its homeowners insurance but gets more for its auto insurance coverage. Ameriprise home insurance gets a little more than half the complaints expected for an average company its size, according to data from the National Association of Insurance Commissioners (NAIC).

Ameriprise has a stable financial strength perspective, with its main insurance property and casualty subsidiary, IDS Property Casualty, having been assigned a financial strength rating of "A" by AM Best.

Ameriprise tends to offer affordable, no-frills auto and home insurance policies, but it may be easier to find a cheaper policy if you're looking for homeowners coverage rather than auto.

Here's a comparison of Ameriprise's rates with its competitors:

Ameriprise's rates for drivers with a ticket or accident are roughly in line with the company's other rates. However, you can get rates that are 15% lower than average if you have a DUI.

Ameriprise Financial has a 1.0 star rating based on 4 customer reviews, with consumers being mostly dissatisfied.

Ameriprise offers a variety of auto insurance discounts that can help you save money on your premiums. You can earn discounts for safer driving choices, such as avoiding accidents or traffic violations for four years, or for bundling your auto insurance with other policies.

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If you're a careful driver, you may be eligible for the Premiere safety discount. This discount is available to drivers who avoid accidents, traffic violations, or claims for four years. Additionally, drivers who take a defensive driving course approved by their state DMV may qualify for the Defensive driver discount.

Ameriprise also offers discounts for bundling multiple vehicles on a single policy, which can be a great way to save money if you have multiple cars. You can also earn a discount for staying with Ameriprise for three years or more.

Here are some of the auto insurance discounts offered by Ameriprise:

If you're a careful driver, you can earn a number of discounts with Ameriprise auto insurance.

You can get a Premiere safety discount by avoiding an accident, traffic violation, or claim for four years.

A defensive driving course approved by your state DMV can also earn you a discount.

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Having safety features like anti-lock brakes and airbags in your vehicle can also lower your rates.

Keeping your vehicle overnight in a garage can also qualify you for a discount.

Young drivers with good grades can get a students discount, and insuring multiple vehicles can also lead to lower rates.

If you stay with Ameriprise for three years or more, you'll qualify for a tenure discount.

In California, you can get a safe driving discount if you have an accident-free driving record for three years.

Here are some ways to earn auto discounts with Ameriprise:

Ameriprise offers basic car insurance coverage with slightly below-average prices. But if you have a DUI, its rates are notably cheaper than average.

Ameriprise quotes are generally cheaper than average. For full coverage, the average rate is $140 per month, which is 5% less than the average of many of the largest companies in the country.

Ameriprise offers a nice set of ways to add extra coverage to your car insurance policy. All policies with comprehensive and collision coverage include things like fixing windshield cracks at no cost, accident forgiveness, and stolen key coverage.

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Some of the extra benefits you can add separately to your policy include towing and rental car coverage. And, if you're involved in an accident more than 100 miles from home, Ameriprise will make a contribution to your out-of-pocket expenses for travel or accommodation.

Here are some of the standard set of coverages you can get with an Ameriprise policy:

If you have a windshield crack, Ameriprise will waive your deductible for repairs, but not for a full windshield replacement. And, if your car keys are stolen, Ameriprise will cover the cost of replacements totaling less than $250, with no deductible.

Ameriprise home insurance is worth considering, especially if you're looking for coverage options at slightly cheaper-than-average rates. Their policies are underwritten by American Family Insurance, so you can trust that you're getting reliable protection.

One of the benefits of Ameriprise home insurance is that you don't need to buy extra liability coverage for slander and libel, which is a relief for many homeowners.

Ameriprise's home insurance rates are about 5% cheaper than average compared to larger U.S. insurers, making it a more affordable option. However, rates can vary by location, so it's essential to compare prices against other home insurance companies in your area.

If you want to get a quote online, you may be able to, but you'll often have to connect with an agent. This might be a minor inconvenience, but it's a small price to pay for the potential savings.

Ameriprise's home insurance coverage is similar to its competitors, but what sets it apart is the expanded coverage options it offers. You can upgrade your protection with various add-ons, including replacement cost coverage for your personal property.

Here are some of the useful add-ons you can consider:

Ameriprise's customer service is generally good for homeowners insurance, but you may get less favorable service for auto insurance.

You can expect Ameriprise home insurance to get about half the complaints expected for an average company its size, according to the National Association of Insurance Commissioners (NAIC).

Ameriprise auto insurance, on the other hand, tends to garner about 11% more complaints than average.

Ameriprise's stability from a financial strength perspective is a plus, with its main insurance property and casualty subsidiary, IDS Property Casualty, having a financial strength rating of "A" by AM Best.

This rating indicates Ameriprise has a strong ability to pay out claims.

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Ameriprise has a reputation for poor customer service, with many customers reporting difficulty in getting help from their advisors. One customer even had to step in to help a family member resolve issues with their advisor.

High fees are another major concern. Some customers have reported being charged exorbitant fees for trades, with one customer paying $56 to make a trade in 2022. This is a significant issue, as it can eat into investment returns and make it difficult to achieve financial goals.

Ameriprise's investment performance has also been a major letdown for some customers. One couple invested with Ameriprise nearly 3 years ago, expecting to earn a 3-5% annual return, but their portfolio has never made a single dollar of positive gains. In fact, they lost 25% of their worth in 2022 alone.

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The company's auto insurance protection tends to garner more complaints than average, with about 11% more complaints than expected for a company its size. This is according to data from the National Association of Insurance Commissioners (NAIC).

Some customers have reported difficulty in moving their money out of Ameriprise, with one customer saying it took months to resolve the issue. This is a significant red flag, as it can be a major hassle to switch to a new provider.

Here are some of the most common complaints about Ameriprise:

It's worth noting that Ameriprise has a financial strength rating of "A" from AM Best, indicating a strong ability to pay out claims. However, this may not be enough to offset the company's other issues.

Ameriprise's financial strength is a key factor to consider when evaluating their services. Their main insurance property and casualty subsidiary, IDS Property Casualty, has been assigned a financial strength rating of "A" by AM Best.

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This indicates that Ameriprise has a strong ability to pay out claims. However, it's worth noting that their customer service ratings are mixed, with some areas receiving more complaints than average.

Consumers have given Ameriprise a 1.0 star rating based on 4 customer reviews, indicating that they are mostly dissatisfied with the company.

We used data from Quadrant Information Services to determine the rate date used in our research. This data is publicly sourced from insurer filings.

Quotes were obtained from more than 20 states where the company does business, allowing for a wide range of comparisons.

Ameriprise Financial has a concerning 1.0 star rating based on 4 customer reviews, with consumers mostly dissatisfied.

Their recent customer reviews are alarming, with warnings to "RUN, RUN to another company!" and "RUN, DONT WALK, AWAY FROM THIS COMPANY." Some customers have even advised against having a managed account at Ameriprise.

High fees and low returns are a major issue with Ameriprise. One family's experience shows that they were sold an annuity that returned only 2% per year, and were convinced to roll over to another high-fee annuity despite being in a low tax bracket.

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Ameriprise's financial strength is a mixed bag. While their homeowners insurance gets only slightly more complaints than average, their auto insurance tends to garner 11% more complaints than average.

Here's a summary of Ameriprise's financial strength ratings:

Ameriprise's main insurance property and casualty subsidiary, IDS Property Casualty, has a strong financial strength rating of "A" from AM Best, indicating a good ability to pay out claims.