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Review Of Ameriprise Home Insurance For Costco Members

While doing your shopping at a Costco Store, you may come across Ameriprise home and auto insurance. Costco itself does not offer insurance, instead, you can get these policies at a discounted rate when you are a member of the store. According to Costco ads, you can save as much as $593.24 in the first year that you use their insurance.


In this review, we will check out Ameriprise home insurance for Costco members and see if it is the best option for your property.

What You Need To Know About Ameriprise Home Insurance


This insurance policy is offered exclusively by Costco for its store members. While you can still purchase from Ameriprise Insurance directly, you can enjoy discounts if you buy it from the store. Additionally, it promises plenty of worthwhile benefits such as lifetime renewability and roadside assistance (for those with auto insurance).


Ameriprise Insurance is a company based in Green Bay, Wisconsin. This company sells different types of insurance including homecondo, auto, renters, travel, and personal liability (umbrella). The company is a subsidiary of Ameriprise Financial and rely mostly on partnerships to reach out to customers. Some of its strategic partners are Costco and Ameriprise Financial. The company also partnered with other insurance providers to allow specific coverage such as for ATVs, watercraft, motorcycles, and other recreational vehicles.


Ameriprise Home Insurance Coverage


Ameriprise Home Insurance promises to be affordable and competitive. It includes important coverage such as:


  • Dwelling Coverage – This is part of the insurance that will pay in the repair or rebuilding of the structure of your home in case a covered peril happens. Like in any standard home insurance it provides protection to specific perils including lightning strike damage, windstorm and hailstorm damage, fire and/or smoke damagevandalismtheft, damage from an explosion, damage caused by motor vehicle or aircraft, and damage due to falling objects.
  • Other Structures – This is coverage for structures that are not attached to your homes like fences, sheds, detached garages, fences, and mailboxes.
  • Personal Property – This coverage provides protection for items inside your home. Your belongings will be covered in case it is lost or destroyed due to a covered peril.
  • Scheduled Personal Property – This provides a unique property coverage set for valuable items inside your home. For example, if you have jewelry, fine art, cameras and equipment, collections like stamps, ceramics, coins, firearms, silverware, and more.
  • Homeowners Endorsements – This provides protection for items that are originally not part of your homeowner’s policy. Some items included in this coverage are home media entertainment items, adventure equipment, water backup and sum overflow, and personal injury endorsement.
  • Earthquake Insurance – Earthquake insurance is crucial especially if you are located in earthquake-prone areas.
  • Mine Subsidence Insurance – The United States relied on coal mining in the 1800s to the 1900s. However, when the mines closed many of these were just abandoned as is or filled up. Centuries later, some homes now sit on top of these old mines. If your home is located on such area, it is crucial to have a mine subsidence insurance to cover for any damage that may be caused by the mine.
  • Loss of Use Coverage – Loss of Use is crucial especially if you meet an emergency and you are unable to stay in your home. Any extra expenses will be covered with loss of use. Items like rental, food, gas, and other items will be reimbursed.
  • Personal Liability – If you are found to be liable to an injury or property damage while within your property, this coverage will help protect your wallet in case there is an associated cost.
  • Medical Payments Coverage – In case a guest or visitor is injured in your home, medical expenses will be covered no matter who is at fault.

Discounts


There are several discounts that you can take advantage of some of which may help save you hundreds of dollars annually.


  • Costco Membership Discount – If you are a Costco Store Member, you will be eligible to receive a discount. Just provide your Costco membership number at the time of your purchase.
  • Age of Home Discount – Newer homes get bigger discounts.
  • Claims Free Discount – If you have not processed a claim in the last five years, you will be able to enjoy some discounts.
  • Multi-Product Discount – If you bundle your insurance with other Ameriprise Products you will be able to get discounts.
  • Home Safety Discount – You can get a discount if you add features like smoke alarms, deadbolt locks, sprinkler system, fire extinguishers, and security systems.
  • Tenure Discounts – This discount is available for those who stayed with Ameriprise for a long time.
  • Renovation Discount – Offered to properties that are renovated recently such as those that went through HVAC renovation, roof replacement, plumbing renovation, and electrical renovation.

Company Ratings


Over the years, Ameriprise Insurance has ranked well with JD Powers including ranking number one in customer satisfaction in states like California in 2011. It also received a rating of A (Excellent) from A.M. Best Rating. Insurance review website, Clearsurance also shows 4.15 stars rating out of 5 stars in customer reviews.


Pros And Cons

Pros

  • Comprehensive home insurance coverage which includes items that are typically not included in standard insurance like earthquake and mine subsidence.
  • Includes scheduled property insurance – This coverage is typically an add-on with other insurance companies.
  • Costco Members Discount – By being simply a member of this superstore, you can automatically qualify for a discount.
  • Cons

  • Not Excellent Customer Service – Most reviews share that the customer service is not as reliable as other insurance companies.
  • Buy From A Costco Store – While you can easily buy from your local Costco Store, however, store attendants may not be as trained as a real insurance agent. This may be a disadvantage because you will not be able to get all the information that you need.
  • In Summary


    Overall, Ameriprise Home Insurance for Costco Members is a good deal. It promises excellent discounts as long as you are a Costco Member. There are benefits when you opt for this kind of insurance especially because of the available discounts. However, you may not be able to get the same advice, tips, and guidance if you go through a broker or insurance agent. Still, you can check their website where you can easily enter your information so they can send you a quote.

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