Costco home and auto insurance

Ameriprise Auto / Home Insurance and The Costco Connection

Did you know that as a Costco member you are eligible for (supposed to get) a discount on your Auto, Home, and Renters insurance?

See, every year that my insurance premiums would go up with Ameriprise, they (Ameriprise Auto & Home Insurance) would always refer to inflation, higher claims, and higher pay outs as the reasons for the cost of my insurance going up. To me it always seemed like a C.O.L.A. (Cost Of Living Allowance, raise, bonus, etc.) for Ameriprise President and CEO, Ken Ciak (allegedly).

I would ask, “Am I getting THE best possible rate for my coverage?”

I was ALWAYS assured that I was getting the absolutely best possible rate known to mankind. Hmm, okay?

NEVER once did ANYONE that I spoke to at Ameriprise ask me, “Are you a Costco member?” If they had asked me this my response would have been, “Why yes I am a proud, card carrying member of Costco.” I would have even pointed out that the Costco company headquarters used to be in Kirkland, Washington. Thus the reason for all of their “branded” products carrying the Kirkland name.

“But No. ” as John Belushi used to emphatically reply on the golden age of Saturday Night Live. No one ever asked me this question. So, I REALLY wasn’t getting the best possible rate known to mankind.

According to the Costco – Ameriprise Auto Home Insurance website – I could have been potentially saving $517.92 (1) a year just on my car insurance. That doesn’t include my homeowners insurance. Let’s just say, for the sake of argument, that I could have saved an additional $82.08 by combining my home insurance along with my car insurance with Costco and Ameriprise. Well now, that is a savings of $600.00 a year OR $50.00 a month. OR over the 15 years that I’ve been with Ameriprise that is $9,000.00 (Nine Thousand Dollars and Zero Cents).

I would have LOVED to have had that extra $9k to sock away in my Roth IRA. But NO. (the John Belushi reference again). Ameriprise FAILED (time and time again) to give me the full disclosure of their association with Costco. Why would Ameriprise not want to shout from the highest mountain tops of their working relationship with Costco?

Costco has no problem displaying all kinds of information about Ameriprise inside all of their warehouse locations.

Why would Ameriprise essentially deceive Costco members? Could it be because they really want to charge those not in the know the full price, the full boat, the full enchilada? Is this just more money for Ken Ciak, President and CEO of Amerprise to fatten his paycheck with (allegedly)?

I don’t know. But I would like call upon Costco CEO, Mr. Craig Jelinek to shed some light on this.

Until next time remember, Do Not Do Business With Ameriprise Auto & Home Insurance (aka I.D.S. Insurance) out of De Pere, Wisconsin. There are much better choices for auto and home insurance instead of Ameriprise.

(1) Savings data represents information provided only by those Costco members who became new auto insurance policyholders and reported first year savings with Ameriprise Auto & Home Insurance between 2/1/14 and 7/31/14. Some members may not experience a savings. Individual experience may vary based upon a variety of factors including, but not limited to, driving experience, type of automobile insured and past losses.

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