Amica Mutual Insurance Company Review

Company Overview

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If you are looking for an insurance company that is large enough to be financially stable but also has strong ratings in customer service, Amica Mutual Insurance Company may be the provider you are looking for. It is one of the oldest auto insurance companies in America.

It was founded in 1907 by A. T. Vigneron. He based the company on the notion of writing insurance policies for preferred risks and offering lower auto insurance rates.

Trade Information

As a mutual insurance company, Amica Insurance is owned by its policyholders. Policyholder-owned companies are not publicly traded, and therefore are not obligated to pay dividends to shareholders; however, some might pay dividends to their policyholders, depending on their financial status for the year.

Financial Stability

Good debt management and time-tested operations indicate that Amica is a financially stable company.

A reliable method of measuring a company's financial stability is to compare its past financial performance and its debt ratio. The debt ratio is a measurement of its assets to its liabilities (dividing total liabilities by total assets), found on the balance sheet, demonstrating how assets are funded in the company. For FY 2020, Amica had a deb ratio of 2.13. Generally, if a company has a debt ratio of 1 or more it is regarded as being financially more at risk of not being able to pay its debts.

The company has also been operating since 1907—enough time to weather many recessions, natural disasters, and other economic events that tend to affect businesses.

Recognition and Awards

Amica Mutual Insurance Company has a good reputation from insurance rating organizations such as A.M. Best and J.D. Power & Associates. The company’s main strong point seems to be in its customer service, receiving high rankings year after year. In fact, J.D. Power & Associates ranked this company highest in customer satisfaction for seven years in a row.

A.M. Best (a credit rating company for insurance providers) gives the company a financial stability ranking of “A+” (Superior). The company was also listed in Ward’s Top 50 list for the years of 2006 and 2008-2012. Amica received honors from with its People’s Choice Award in 2012 and was named by Forbes to the Best Mid-Size Employers list of 2019 and 2021.

Amica Insurance and Financial Products

Originally, AMICA was created to offer insurance for automobiles. Since its creation, the company has continued to add policies across a wide spectrum of consumer interests. The company has policies for the following areas:

  • Auto
  • Home
  • Life
  • Renters
  • Umbrella
  • Condos
  • Marine
  • Motorcycle
  • Weddings and Events
  • Small Business
  • Retirement

Policy Services

Amica does not sell insurance products using direct insurance agents. Rather, customers may call, email or visit a local office to buy a policy. This eliminates middle-men, further reducing costs.

The company has 40 local offices and employs over 3,000 people. They have worked to integrate the latest technology into claims management and billing systems which allows for greater efficiency when servicing its customers.


Founded in 1907 and headquartered in Lincoln, R.I., Amica became one of the earliest automobile insurance providers in the U.S. As the company grew and became more successful, its insurance offerings were expanded: homeowners’ insurance was first offered in 1956, personal liability insurance in 1970, and life insurance in 1973.

Amica boasts assets of over $5.7 billion and has over 1.5 million policies in-force (active, paid policies). Its subsidiaries include Amica Life Insurance Company, Amica General Insurance Agency of CA, Inc., Amica Lloyd’s of Texas, Inc., Amica Property and Casualty Insurance Company and Amica General Agency, Inc.

The company’s mission statement relays its focus on customer service stating that the “customers always come first.” Amica is unique in the insurance industry for being one of the few large companies that still ranks high in the area of customer service.

Contact Information

To find out more information about Amica Mutual Insurance Company’s products or to receive a quote, you can visit the Amica website or call 1 (800) 242-6422. The company's website provides contact information, as well as an office locator.

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The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.
  1. AMICA. "2020 Amica Annual Report."

  2. AMICA. "Awards and Recognition."

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