Pekin vs. Ameriprise Insurance

Which insurance company is right for you? Compare rates, discounts, and quotes from Pekin and Ameriprise.

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Pekin vs. Ameriprise: What You Need to Know

In 1921, a group of farmers, all members of the Tazewell County Farm Bureau, formed an organization to make automobile insurance more affordable. The organization was called The Farmers Automobile Insurance Association. The first Pekin Insurance office was located in the Tazewell County Courthouse, a space donated by the County Board Supervisors. With 187 policies, the six-month premium was $5 for glass, fire, lightning, windstorm, full-coverage collision, property damage, and bodily injury. All cars were charged the same premium. In 1932, they added 24-hour claim service. They adopted the telephone number #1334 for claims service. By 1939, Pekin had 20,000 policies and by 1945, 30,000. In 1952, they added fire insurance and in 1960, Inland Marine coverage. In 1966, the company moved into its new and current home office on Court Street and they now have 8 service offices in six states: Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin. Pekin Life Insurance Company, which was established in 1969, also offers products in Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, Nebraska, Pennsylvania, and Virginia. They began selling group health insurance in 1970 and pre-need insurance in 1993. In 2010, they adopted a new slogan, Beyond the expected®. In 2011, they created a unit called Group Plan Solutions for businesses. Today Pekin Insurance has over 900,000 policyholders and more than 8,500 independent agents.

Founder John Tappan founded Ameriprise Financial over 125 years ago, with a mission to help Americans achieve their goals. The company was originally called Investors Syndicate. Investing $5 each, he had 1,000 clients. By 1914 his assets reached $1 million. In 1925, entrepreneur John R. Ridgeway purchased Investors Syndicate, which ended up paying out every dollar ($101 million) to certificate holders during the Great Depression (1929-1939). Assets grew from $28 million to $153 million. In 1940, Investors Syndicate entered the mutual fund market. In 1945, it entered the market with investors stock fund and investors selective fund. In 1949, Investors Syndicate changed its name to Investors Diversified Services (IDS). Investors Syndicate Life Insurance and Annuity Company was formed. Grady Clark became president in 1960 and the sales organization became a national network. In 1973, Investor Syndicate Life Insurance and Annuity Company was renamed IDS Life Insurance Company. In 1984, the American Express Company acquired IDS for $780 million. Harvey Golub became CEO of IDS Financial Services. Two years later, IDS acquired Wisconsin Employers Casualty Company of Green Bay and renamed it IDS Property Casualty Insurance Company. In 1994, IDS celebrated its 100th anniversary and $100 billion in assets. In 1995, IDS changed its name to American Express Financial Advisors (AEFA) and David Hubers was the CEO and President. In 2000 James Cracchiolo succeeded Hubers. In 2002, AEFA acquired Dynamic Ideas, LLC, the quantitative platform RiverSource Investments. AEFA acquired Threadneedle, a leading British investment firm. In 2005, Ameriprise Financial became an independent, publicly owned company and Ameriprise Financial renamed American Express Property Casualty Insurance companies to Ameriprise Auto & Home Insurance and announced the RiverSource brand. The company entered the Fortune 500 at 297. In 2008, Ameriprise Financial acquired J.&W. Seligman and H&R Block Financial Advisors. During the financial crisis, Ameriprise Financial advanced $700 million to help clients with cash needs. In 2009, Ameriprise Financial partnered with Feeding America, the nation’s largest domestic hunger-relief organization. In 2010, Ameriprise Financial became the eighth-largest manager of long-term U.S. mutual fund assets, largely due to the acquisition of Columbia Management. In 2014, it launched the Confident Retirement® approach. The new Columbia Threadneedle Investments brand was launched in 2015. In 2017, Columbia Threadneedle Investments acquired Lionstone Investments, a real estate investment firm and also acquired Investment Professionals, Inc, a new advisor channel to serve clients of financial institutions. In 2019, the National trust bank converted to Ameriprise Bank, FSB.

Below is a list of average rates, rankings, products and discounts for the two companies. For full company overviews, you can visit Pekin Insurance Overview and Ameriprise Group Overview.

Pekin Insurance vs. Ameriprise Group: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Pekin Insurance and Ameriprise Group. On average, Pekin Insurance charges approximately $95.67 per month while Ameriprise Group comes in at around $109.67 per month. For Pekin Insurance, the cheapest state average is Indiana at $75.69 per month and the most expensive is Wisconsin at $107.60 per month. For Ameriprise Group, the cheapest state average is Arizona at $109.70 per month and the most expensive is Arizona at $109.70 per month.

Pekin Insurance

Average Rate

$95.67
Ameriprise Group

Average Rate

$109.67
National

Average Rate

$120.83
State Pekin Insurance Ameriprise Group
Arizona- $109.70
Illinois $107.29 -
Indiana $75.69 -
Iowa $79.79 -
Wisconsin $107.60 -

Pekin Insurance vs. Ameriprise Group: Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Pekin Insurance and Ameriprise Group typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Pekin Insurance Ameriprise Group
1 Vehicle $90.73 $101.86
2 Vehicles $116.09 $135.61

Pekin Insurance vs. Ameriprise Group: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Pekin Insurance charges $85.70 per month and Ameriprise Group charges $107.10 per month for customers who own their home.

Own/Rent Pekin Insurance Ameriprise Group
Own $85.70 $107.10
Rent $99.91 $111.18

What is Pekin and Ameriprise Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Pekin and Ameriprise ranked among the industry ratings.

ComparisonPekinAmeriprise
Year Founded19211894
A.M. Best RatingA-A
BBBc-
Financial StrengthExcellentExcellent
JD Power RankingBetter Than Most
MoodysA3
NAIC Complaint Ratio1.23

Pekin or Ameriprise: Insurance Products Offered

What coverage is available through Pekin and Ameriprise? Both insurance companies offer Auto, Condo, Health, Home, Life, Motorcycle, Renters, RV, and Umbrella insurance. Additional products from Pekin insurance also include Commercial insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit Pekin Insurance and Ameriprise Group Insurance page.

InsurancePekinAmeriprise
Auto Insurance
Commercial Insurance
Condo Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Pekin or Ameriprise: Ways To Save

Pekin offers a wide range of discounts to its policyholders, including Anti-theft Device, Auto/Home Bundle, and Defensive Driver (Not Available in Indiana) discounts. In contrast, Ameriprise also offers a few discounts that Pekin doesn’t, including Vehicle Safety Features, Student Away, and Renovation discounts. Start taking advantage of discounts offered by insurance providers like Ameriprise and Pekin insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

PekinAmeriprise
Advance IssueAge of Home Discount
Anti-theft DeviceClaims Free Discount
Auto/Home BundleDefensive Driver Discount
Defensive Driver (Not Available in Indiana)Education Discount
EFTGaraging Discount
Good StudentGood Driver Discount
Hybrid AutoMulti-car Discount
Mandatory Seatbelt (Only Available in Iowa)Multi-product Discount
Multi-CarPremier Safety Discount
Paid-in-FullProtective Devices Discount
Safety Equipment (Only Available in Ohio)Renovation Discount
TenureStudent Away Discount
Tenure Discount
Vehicle Safety Features Discount

Pros & Cons of Pekin & Ameriprise

Pros

Pekin
  • High financial strength ratings by A.M Best.
  • Lots of supplemental or “add on” insurance options.
Ameriprise
  • A very financially sound company.
  • One of the largest networks of agents.
  • Offers auto insurance through Costco

Cons

Pekin
  • A high number of negative reviews.
  • Confusing website.
  • It only serves these states: Alabama, Arizona, Arkansas, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Ohio, Pennsylvania, Tennessee, Texas, Virginia, Wisconsin.
Ameriprise
  • The complaint ratio for Ameriprise is higher than the national average. Since 2015, however, it has steadily decreased

Pekin or Ameriprise Mobile Apps Options

Not rated. Pekin only has an Insurance Events app on Google Play, which is intended to help you with schedules, dining information, maps and more.

The only app available for Ameriprise is for financial services and financial planning, not for home and auto.

Pekin Mobile App
Pekin does not currently have a mobile app for insurance products.
Ameriprise Mobile App
Ameriprise does not currently have a mobile app for insurance products.

Pekin & Ameriprise Contact Info

Pekin Contact Info
Address2505 Court St, Pekin, IL 61558
Phone1-800-322-0160
Websitehttps://www.pekininsurance.com/
Facebookhttps://www.facebook.com/PekinInsurance/
Youtubehttps://www.youtube.com/user/PekinInsurance
Twitterhttps://twitter.com/pekininsurance
Linkedinhttps://www.linkedin.com/company/pekin-insurance/
Ameriprise Contact Info
Address70100 Ameriprise Financial Center, Minneapolis, MN 55474
Phone1-800.862.7919
Websitehttps://www.ameriprise.com/
Facebookhttps://www.facebook.com/AmeripriseAutoHome/
Youtubehttps://www.youtube.com/user/Ameriprise
Twitterhttps://twitter.com/AmeripriseAH
LinkedInhttps://www.linkedin.com/company/ameriprise-auto-and-home-insurance/

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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