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IDS Auto Insurance Review

  • 11111
Address: IDS PROPERTY CASUALTY INSURANCE (wholly owned by Ameriprise Insurance)
State: WI
ZIP: 54304-3922
Phone Number: +1- 920-496-5100
AM Best Rating: A+ (“SUPERIOR”)
Year Founded: 1894

IDS Property Casualty Insurance, the focus of this IDS auto insurance review, is a wholly-owned operating unit of Ameriprise Financial Insurance. Ameriprise has built a solid franchise selling financial advice, products, and services to affluent individual investors.

IDS Property Casualty Insurance was formerly owned by American Express. American Express spun off IDS (a retail broker and insurance distribution company) in the 1980s. American Express later spun off Ameriprise in 2005. It does offer types of car insurance, home insurance, condo insurance, and renter’s insurance.

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Parent Ameriprise sells a range of insurance products, educational savings programs, retail brokerage, mutual funds, and annuities. The company helps investors start an investment program by delving into each client’s financial requirements and goals.

Ameriprise Financial helps serious clients get started with a financial plan. Serving each client’s needs with the delivery of proprietary products and services, like Ameriprise Insurance, delivers higher revenues.

IDS Auto Insurance Overview

Amerprise Financial is one of the country’s top providers of financial services products and services. IDS’s sister companies, including Columbia Management, offer individual investors insurance programs. Ameriprise Bank provides loans and deposit products to security-minded folks.

Ameriprise’s insurance programs are distributed through a network of greater than 11,400 financial advisors—some of these advisors are affiliates or franchisees. Most of Ameriprise’s products are distributed through financial advisor employees. Securities America, another broker-dealer owned by Ameriprise, also distributes insurance and financial services products for the company.

Ameriprise’s business has grown through acquisitions since the 1980s. The company purchased brokers Brecek & Young and J. & W. Seligman in 2008, at the outset of the global financial crisis. Soon after, it purchased H&R Block Financial Advisors from parent company H&R Block, the tax preparation firm. With these acquisitions, Ameriprise created a new unit called Ameriprise Advisors.

As the financial crisis continued into 2010, it purchased Columbia Management (a mutual fund business) at a cost of $1 billion from ailing Bank of America. After acquisition, Ameriprise boasts $670 billion in AUM (assets under management).

Columbia Management’s acquisition offered a special kicker: Ameriprise may access Bank of America’s enormous customer base! Columbia Management was merged with Ameriprise’s RiverSource Investments (an asset manager, also known as Threadneedle to European customers) to market and distribute Ameriprise’s insurance products. The older IDS property & casualty insurance brand is a part of this product unit.

IDS Auto Insurance and Ameriprise Financial

Ameriprise Financial is divided into several key operating units:

  • Wealth management and financial advice
  • Annuities and insurance protection (of which IDS is a party)
  • Asset management
  • Corporate operations

According to the company website, Ameriprise plans to expand asset manager services to clients in Europe and Asia (especially Taiwan and Japan) as it continues to deepen its relationships with clients in the Americas. The company also announced a decision to sell its Securities America brand.

Because Ameriprise’s focus is on affluent customers, or personal/business customers with a minimum of $100,000 in financial assets, it is ideally positioned to market varieties of auto insurance and other property & casualty and liability products to a stable customer base.

IDS Auto Insurance Financial Information

Ameriprise continued to grow throughout the global financial market downturn of 2008 through 2010, although the company’s revenues declined through the period. In 2010, revenues grew by 20% and re-established a positive financial trend.

According to Dun & Bradstreet, the parent company employs about 10,472 people and is considered a low-risk vendor. As of fiscal year-end 2010 (December), the company generated $9.98 billion in sales and grew sales year-to-year by about 27.82%. The company’s net income was $1.10 billion. Net income grew by an impressive 51.94%.

Auto Insurance Quotes from IDS Auto Insurance

You can use the quote tool box on the IDS website. You simply enter the type of insurance you are seeking, and the state you live in.

Then you proceed through five pages of questions involving the policy holder, vehicle, drivers, and other details. The final page will give you your quote.

You can also call the company directly with any questions at 1 (888) 239-9953.

To use a free third party auto insurance quotes tool, without leaving this page, just put your zip code into the box now!

Reviews for IDS Auto Insurance

    • 11111
    Joseph Yavornitzky says:

    I have held an auto insurance policy with this company since 1990, and with the previous owner (AMEX) since 1984. I have continually updated my policy, made all premium payments, have NEVER MADE A CLAIM, and have never had more than 2 points on my driver’s license.

    After 31 years with this same auto insurance policy, I received a notice from Ameriprise on 5/15/2015 requiring me to sign a Driver Exclusion Form for ME on my own policy. When contacting a company representative, I was given the reason for my non-renewal of insurance as a single speeding ticket in December of last year.

    I was told that the risk for me was so high that I could not be insured. I blatantly asked the representative if I had an accident instead of a speeding ticket and made a claim, would I be dropped as well — and the representative responded by saying, “yes, probably.” I have never been treated with so much disrespect and with such unprofessionalism.

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