Pemco vs. Ameriprise Insurance

Which insurance carrier is right for you? Compare discounts, ratings, and quotes from Pemco and Ameriprise.

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Pemco vs. Ameriprise: What You Need to Know

Pemco was founded in 1949 by Robert J. Handy, a Seattle journalism and math teacher. He had at first envisioned insuring teachers, who were members of the Seattle Teachers Credit Union which he founded in 1939 (it later became the School Employees Credit Union of Washington). He wanted to “create a financial institution with a heart.” Handy was also working for an insurance agency, which enabled him to sell auto insurance to educators who came to the credit union to secure car loans.

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 PEMCO Overview and Ameriprise Group Overview.

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

Below is a list of the average rates that drivers typically pay with PEMCO and Ameriprise Group. On average, PEMCO charges approximately $99.45 per month while Ameriprise Group comes in at around $109.67 per month. For PEMCO, the cheapest state average is Washington at $99.42 per month and the most expensive is Washington at $99.42 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.

PEMCO

Average Rate

$99.45
Ameriprise Group

Average Rate

$109.67
National

Average Rate

$120.11
State PEMCO Ameriprise Group
Arizona- $109.70
Washington $99.42 -

PEMCO 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 PEMCO and Ameriprise Group typically charge for drivers who have more than 1 vehicle.

Number of Vehicles PEMCO Ameriprise Group
1 Vehicle $93.83 $101.86
2 Vehicles $119.96 $135.61

PEMCO 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 PEMCO charges $96.05 per month and Ameriprise Group charges $107.10 per month for customers who own their home.

Own/Rent PEMCO Ameriprise Group
Own $96.05 $107.10
Rent $100.85 $111.18

What is Pemco and Ameriprise Insurance Rating?

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

ComparisonPemcoAmeriprise
Year Founded19491894
Market Share3.8%
A.M. Best RatingB++A
BBB RatingA+
Financial StrengthExcellentExcellent
JD PowerAmong the Best
JD Power RankingBetter Than Most
MoodysA3
NAIC Complaint Ratio1.23

Pemco or Ameriprise: Insurance Products Offered

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

InsurancePemcoAmeriprise
Auto Insurance
Condo Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Pemco or Ameriprise: Ways To Save

Ameriprise offers a wide range of discounts to its policyholders, including Claims Free, Defensive Driver, and Education discounts. In contrast, Pemco also offers a few discounts that Ameriprise doesn’t, including University of Washington Alumni, Safety/Security Feature, and Paid in Full discounts. Start taking advantage of discounts offered by insurance providers like Ameriprise and Pemco insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

PemcoAmeriprise
Accident Forgiveness BenefitAge of Home Discount
Advance Purchase Discount (for new business)Claims Free Discount
Auto Plus Home DiscountDefensive Driver Discount
Defensive Driver DiscountEducation Discount
Distant Student DiscountGaraging Discount
Educator DiscountGood Driver Discount
Good Student DiscountMulti-car Discount
Homeownership DiscountMulti-product Discount
Life Insurance (only for members of the teacher’s credit union)Premier Safety Discount
Low Mileage DiscountProtective Devices Discount
Loyal Auto Customer DiscountRenovation Discount
Minor Ticket Forgiveness BenefitStudent Away Discount
New Vehicle DiscountTenure Discount
Paid in Full DiscountVehicle Safety Features Discount
Safety/Security Feature Discount
University of Washington Alumni Discount

Pros & Cons of Pemco & Ameriprise

Pros

Pemco
  • PEMCO was ranked amongst the best by JD Power.
  • Positive reviews from customers
Ameriprise
  • A very financially sound company.
  • One of the largest networks of agents.
  • Offers auto insurance through Costco

Cons

Pemco

Ameriprise
  • The complaint ratio for Ameriprise is higher than the national average. Since 2015, however, it has steadily decreased

Pemco or Ameriprise Mobile Apps Options

The Go PEMCO app connects you to your PEMCO policy no matter where you are. You have access to vehicle insurance ID cards, your policy, and discounts. You can also make changes to your policy, view documents and bills and pay your bill. Local repair shops are listed for you too.

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

Pemco Mobile App
iOS     3.65 user reviews
Android     4.368 user reviews
Ameriprise Mobile App
Ameriprise does not currently have a mobile app for insurance products.

Pemco & Ameriprise Contact Info

Pemco Contact Info
Address1300 Dexter Avenue N. Seattle, WA 98109-3571
Phone1 (800) 467-3626
Websitehttps://pemco.com/
Facebookhttps://www.facebook.com/PEMCOInsurance/
Youtubehttps://www.youtube.com/channel/UChCRheGkktnLSRYpqBsEP8g
Twitterhttps://twitter.com/PEMCO
Linkedinhttps://www.linkedin.com/company/pemco/
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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