AIG Homeowners Insurance Review
How We Reviewed AIG Homeowners Insurance
4 companies compared
4 features evaluated
5 ratings analyzed
AIG Homeowners Insurance Review
Homeowners insurance with the American Insurance Group, more commonly known as AIG, is hard to come by. Coverage is limited to a single policy with AIG’s Private Client Group package, and it's also only available when bundled with another AIG policy.
AIG may be a good option for people looking for a lot of coverage; its policies are designed to protect valuables, with some of the highest coverage limits we’ve seen. There is also the added security of AIG’s own emergency services that will help in times of crisis, with exclusive firefighting service in high-risk areas for wildfires and hurricanes. With that said, AIG does hold low customer service scores, so those added perks may not be worth it if you're looking for a reliable, accessible provider.
High liability limits
Added member benefits
Low customer satisfaction scores
The Homeowners Insurance Factors we Analyzed
With just one policy for home insurance, AIG may be a little less flexible than other providers when it comes to adjusting your coverage (and therefore pricing) after you receive your initial quote. As with all types of insurance, your homeowners insurance premium depends on your individual situation. Factors like your ZIP code, your home’s structure, and the value of your belongings will determine the total price of your insurance premium.
AIG scores poorly in customer satisfaction rankings and had a higher-than-average number of complaints reported to the National Association of Insurance Commissioners (NAIC) in 2018. J.D. Power gave the provider a score of just two out of five for both claims satisfaction and overall satisfaction.
While its application process includes perks like a complimentary consultation, AIG does not deliver quotes online. The online site and mobile app are well received by customers, but the company is still plagued by slow claims processing, leaving customers in limbo when it matters most.
AIG offers one option for homeowners insurance: the Private Client Group package. Its availability is greatly limited, as homeowners insurance is only available as an add-on if you have another policy with AIG. The Private Client Group policy covers all the basics, including dwelling, structure, personal property, liability, and medical payments coverage. Deductibles are available up to $100,000, but AIG will waive deductibles of $25,000 or less or if damages are less than $50,000.
There is also guaranteed coverage for rebuilding costs, water backup coverage, lock replacement, and pet damage protection, plus exclusive member perks with benefits like free home consultations on homes older than 1945. In the event of destruction, you have the option of a cash payout in lieu of repair or replacement, allowing you the opportunity to take the settlement and move on.
Deals, discounts, and add-ons
There are many ways to save with AIG:
- Bundle discounts: AIG will discount your premiums if you hold multiple policies with the company, including auto and excess liability.
- New home discount: If your home is less than 10 years old or was recently renovated, you could be eligible for a new home discount.
- Secure community discount: You can save on your premium if you live in a guarded or gated community, or if your home is equipped with a perimeter gate, sprinkler system, central station fire alarm, or smart home devices.
Additionally, homeowners in South Carolina, Florida, and Hawaii all enjoy extended replacement with 50% off dwelling and structure damages, while California homeowners enjoy 100% coverage.
AIG Homeowners Insurance Overview: Financial Strength, Availability, and History
AIG made headlines during the financial collapse, with its 2008 bailout of $85 billion from the U.S. government. Today its debts are repaid, with the government receiving a $22 billion profit in 2012. The company has since rebuilt, and while it stands unaccredited by the Better Business Bureau (BBB), it is a popular provider for insurance in the United States and globally.
- In business since: 1919
- S&P Global financial strength rating: A+
- Moody’s financial strength rating: A2
- AM Best financial strength rating: A
- States served: 50 plus Washington, D.C.
All information accurate as of February 10, 2020.