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Amica pays an annual dividend whose percentage varies based on the number and types of policies you hold with them. That said, they weren't mentioned in the ar

• pinko 7y ago
  Amica is a mutual insurance company, but the dividend is paid only if you're a mutual policyholder, as they now also offer non-mutual policies at lower rates, without the dividend. However, I believe the dividend is based on the company's claim payouts over the preceding 12 months, rather than number and types of policies you personally hold with them -- that can provide a discount on your policy rates, but not the dividend rate. So I would expect a larger-than-usual dividend from their auto insurance this year, assuming their paid claims are less than forecasted.
  • hnu0847 7y ago
    You are correct that the dividend amount also depends on Amica's claim payouts for the preceding 12 months, however I checked my statement from last year's payout and it lists a dividend percentage for each type of policy they sell, ranging from NONE (Automobile Liability and Physical Damage, Homeowners (Workers Comp)) to 20% (Boat/Yacht, Personal Umbrella Liability), so this seems to be a separate factor from their claim payouts for the preceding 12 months and also separate from the multi-policy premium discounts they offer. I will also add that these rates can also vary by state, as the statement specifically says "our latest rates in Texas". Based on what I'm seeing I wouldn't expect an increase in the annual dividend due to fewer car accidents, but a premium reduction might be possible.