AIG Insurance Review 2021
AIG, the American International Group, Inc., has been in the insurance business since 1919, when it was founded. The New York-based insurance company operates in 80 countries across the world and is best known for its business and life insurance products. AIG offers high-net-worth individuals in the United States home and auto insurance options.
An Unsatisfactory JD Power and Associates Report Card JD Power gave the company’s home insurance a rating of 2 out of 5 stars. When it comes to rankings, JD Power doesn’t include automatic coverage in their research.
Strong financial position – Very good: Financially sound AIG should be able to pay out on its claims because of its “A” rating from A.M. Best.
According to the NAIC, there were less complaints than the average insurance company. NAIC Rating = Above Average.
AIG auto insurance coverage options
Although AIG’s private client group offers basic insurance coverage, it does it with some flair. Customers of AIG vehicle insurance typically insure rare or costly cars with the company. As a result, the company offers a variety of coverage options that are more specialized.
Liability protection is a critical part of car insurance from AIG. This policy’s insurance coverage may be useful to cover your liability for any losses caused to a third party as a result of an at-fault collision. With a very high liability ceiling offered by this company, customers and their assets are fully protected. Protection might be as much as $1 million per occurrence. AIG also offers an umbrella policy with a $100 million dollar cap.
AIG vehicle insurance offers the following coverage options:
- Worldwide liability coverage: Unlike most other companies, AIG’s auto insurance coverage covers you when traveling anywhere in the globe.
- High liability limits: If you have AIG vehicle insurance, your liability coverage limits per event may be $1 million.
- Original manufacturers’ parts: Insurance company AIG will pay to replace original equipment manufacturer (OEM) parts for your car as long as the OEM parts are still manufactured.
- Agreed value: The insurance company will cover your covered losses, including damaged or totaled vehicles. Depreciation isn’t taken into account because it’s excluded.
- Cash settlement option: AIG insurance offers a cash settlement alternative if the agreed value of a covered loss decreases by at least 50%.
- New vehicle replacement option: AIG gives you the option of buying a new or used car to replace your current vehicle. When it comes time to sell your car, you have three options: get the agreed-upon value, trade it in for the same model and make, or trade it in for a newer one of the same type.
- 360° support: Any stolen or destroyed personal goods will be reimbursed by AIG. If you are away from your family and unable to work, they will also aid with living expenses. Your family pet is also covered by the AIG insurance policy.
- Rental car reimbursement: AIG gives up to $12,500 in rental reimbursement, without a daily restriction.
AIG insurance discounts
American International Group (AIG) does not detail automobile or home insurance reductions.
Is AIG right for you?
Prior to comparing insurance policies, determine the level of protection you require. As a non-owner of a high-value automobile or owner of a luxury home, AIG may not be your best option. The vast majority of insurance clients do not require all of the offered coverage options. For those with substantial assets, AIG, on the other hand, offers world-class protection.
Despite the fact that JD Power does not give them the best rating, the company receives less complaints than is normal. If you’re rich, you’ll want to bear in mind that the cost of your insurance premium is a factor. Ensure that you get the best insurance coverage at a reasonable cost. Getting quotes from many insurers will make it easier to decide on insurance coverage.