IDS Auto Insurance Review

IDS's parent company, Ameriprise, offers a variety of insurance products. Find coverage fast and save up to 20% when you compare quotes online.

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Company Details

Address:

IDS PROPERTY CASUALTY INSURANCE (wholly owned by Ameriprise Insurance)

City:
GREEN BAY
State:
WI
ZIP Code:
54304-3922
Phone Number:
+1- 920-496-5100
Year Founded
1894
AM Best Rating:
A+ (“SUPERIOR”)
Company Rating 1 (2 reviews)

Mathew B. Sims is Editor-in-Chief and has authored, edited, and contributed to several books. He has been working in the insurance industry ensuring content is accurate for consumers who are searching for the best policies and rates...

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Written by

Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance...

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Reviewed byDaniel Walker
Licensed Insurance Agenthttps://res.cloudinary.com/quotellc/image/upload/insurance-site-images/aiorg-live/d98a9f52-daniel-walker.png

UPDATED: Apr 16, 2020

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Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Things to Remember...

  • IDS is a subsidiary of Ameriprise
  • Ameriprise offers types of car insurance, home insurance, condo insurance, and renter’s insurance
  • Ameriprise Bank provides loans and deposit products to security-minded folks
  • In 2010, revenues grew by 20 percent and re-established a positive financial trend
  • You can use the quote tool box on the Ameriprise website

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. Ameriprise offers the following:

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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

Ameriprise 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 adviser 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 and casualty insurance brand is a part of this product unit.

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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 in 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 percent and re-established a positive financial trend.

Here are some other statistics about this company:

  • 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, the company generated $9.98 billion in sales and grew sales year-to-year by about 27.82 percent.
  • The company’s net income was $1.10 billion.
  • Net income grew by an impressive 51.94 percent.

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!

References:

  1. http://insurance.ameriprise.com/
  2. https://www14.ameriprise.com/AutoQuoteWebInter/AQFrontServlet?request_type=un_auth_init&PartnerID=AMPF&RefID=11m-at
  3. http://www.propertycasualty360.com/2015/11/19/20-auto-insurance-companies-ranked-from-worst-to-b
  4. http://www.iii.org/insurance-topics/financial-planning
  5. https://www.ameriprise.com/financial-planning/
  6. http://www.360financialliteracy.org/Topics/Insurance/Cars-and-Auto-Insurance/State-by-State-Minimum-Coverage-Requirements


2 Reviews

  1. Joseph Yavornitzky May 19, 2015
  2. John July 14, 2017

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