Short History of the Company
The company was founded in 1894 by John Tappan at the tender age of 24. He started the company, Investors Syndicate by having 1000 investors place a five dollar investment in the company. This accrued assets to reach $1 million dollars. After World War I a west coast entrepreneur named John R. Ridgeway decided that John Tappan’s Investors Syndicate was a good buy and he purchased it. Soon after this came the Great Depression and Investors Syndicate managed to grow from $28 million to $153 million. Much later in 1949 the name of the company was simply IDS as it entered the mutual fund market with Investors Mutual Fund, Investors Stock Fund and Investors Selective Fund. Fast forward to 1984 and a significant buy out of IDS by American Express took place for the price tag of $780 million. After a decade of acquisitions IDS changed its name to American Express Financial Advisors. Another name change took place in 2005 to finally arrive at the name Ameriprise Financial when the company reached a total of 12,000 registered advisors and representatives and more than 2.8 million individual, business and institutional clients.
Why buy from Ameriprise Auto Insurance?
The company has a rich and long history with a strong backing by a well know giant in the financial arena, American Express. Their auto insurance plans have rewards for responsible drivers, offering savings on premiums.
Ameriprise Auto Insurance Complaints
This is a very large company to work with and therefore, despite the mission statement, clients to find it to be less than adequate regarding customer service at the time of making withdrawals or getting pay outs for claims. The paper work took one client more than 4 months to complete. This made them leave the company.
Special Vehicle Insurance Offers from Ameriprise
Ameriprise offers umbrella insurance for motorcycles, RVs and Boats. Also the Umbrella insurance will provide extra insurance if the claim against your auto policy is beyond the limit of your auto policy the extra coverage will be provided by your umbrella policy.
What States does Ameriprise offer Car Insurance in?
Alabama, Arkansas, Delaware, Hawaii, Idaho, Iowa, Kansas, Mississippi, Missouri, Nebraska, New Mexico, Oklahoma, South Dakota, Tennessee.
Overall rating and satisfaction by consumers
There is a 67% approval rating with most of the customers in a recent Ameriprise Review of their products and customer service regarding auto policies. Most customers who approved of Ameriprise found the prices for the automobile insurance to be a great buy. They report that especially purchasing it from Costco provided an even better savings. Although some customers registered some dissatisfaction with Costco for carrying the Ameriprise Auto policy because as the customer states the company to be grossly mismanaged regarding forms he had sent in that they had said they never received nor say that they ever required. He complained that more time was spent on the phone with call center advisors than with his own family on the weekends. He reported that he is canceling the policy at the end of six months.