Amex Auto Insurance Review

The story behind Amex Auto Insurance is something straight out of a Capra film. Founded in 1894 by the then-24 year old John Tappan, the company started with the Investors Syndicate which was founded by a thousand investors all pitching in five dollars each. This resulted in accrued assets eventually topping one million dollars.

Following the first World War, John R. Ridgeway purchased this company from Tappan.

Come the Great Depression the Investors Syndicate grew from 28 to 153 million dollars worth, changing its name to IDS in 1949 and eventually becoming Amex after the 1984 purchase by American Express.

Today Amex boasts more than 12,000 advisers and representatives and nearly three million clients. If you’re looking for an auto insurance company like Amex to meet your insurance needs, type in your ZIP code into our free auto insurance comparison tool!

All of this makes for a quaint story, how a little creativity turned nothing at all into nine figure auto insurance company, but the question remains as to whether Amex actually have the service and products to back up their name.

Customer Service

The first thing that happy Amex customers will tell you is that you can trust the company to back up any and all of their polices. Some insurers got in trouble shortly after the 2006 hurricane season when they refused to pay out for the thousands of homes damaged under their polices with many speculating that they never had the revenue to cover the claims.

For Amex customers, their insurer is backed by American Express, a financial giant in every sense of the word. At the very least, you can always expect Amex to honor their policies as long as you can prove that your insurance claims are valid.

Furthermore, Amex employ a rewards system that allows for safe drivers to pay less and less with each passing year, piling on discount after discount for anyone who has proven themselves responsible behind the wheel. This alone makes Amex a favored company for many drivers.

Filing Complaints

There is a major downside to working with such a larger company and that is that you can often find yourself lost in a tangled network of phone lines and emails when trying to file a complaint. Clients note this as the biggest downside to working with Amex in many reviews.

For instance, one client points out that his paperwork took more than four months to complete. This is just absurd by any standard and for any sized business, big or small. For this customer it was a deal breaker, but even at their worst this appears to be an isolated incident, although you can certainly expect to spend longer sitting and waiting than you might with other companies.

Umbrella Insurance

One of the biggest drawing points for Amex is the fact that they offer umbrella insurance to provide you with just about all of the coverage you need. They cover everything from cars and bikes to boats and RVs. By covering all of your vehicleswith a single company, you can save a considerable amount of money and an even more considerable amount of time.

Final Verdict

At the end of the day, Amex boasts a 67% approval rating with the vast majority of these approving customers pointing to competitive prices as a major draw.

The company is not without its failings, but by and large, you would have a hard time finding this level of reliability at this low price from any other company.

This puts Amex head and shoulders above much of the competition in the auto insurance industry and especially in the umbrella insurance niche.

If you want reliable auto insurance, make sure you compare quotes to find the insurance company that meets your needs best.