2023 AIG Review

With its deep pool of coverage offerings, low rate of complaints and solid customer satisfaction ratings for homeowners insurance, AIG is a good choice for companies and wealthy individuals. However, AIG’s emphasis on high-value properties in the individual market makes many of its coverage types unsuitable for low and middle-income families.

Keep reading our AIG insurance review to learn more about the insurance products AIG sells and how to determine whether the company would be a good fit given your coverage needs and budget.

AIG auto insurance review summary: AIG offers numerous unique car insurance coverage types such as agreed value coverage rather than actual cash value (ACV) coverage and the option to receive a cash settlement rather than repairing your damaged vehicle. In addition, your auto insurance coverage can extend to other vehicles like motorcycles, motor homes and more. AIG home insurance review summary: AIG primarily insures homes worth at least $1 million and will likely deny you coverage if your home is worth less than $500,000. While its prices are high, the company’s ability to offer such high coverage limits and such a wide range of coverage types is rivaled by few other homeowners insurance companies.

AIG Pros and Cons

Pros	Cons
Employs 26,000 people around the world	Limited availability in California and Florida
Offers extensive coverage options for homeowners, vehicle owners, business owners and more	No app for individual insurance policyholders
Low rate of customer complaints according to the National Association of Insurance Commissioners (NAIC)	High prices and minimal discount opportunities
High customer satisfaction rating for home insurance according to J.D. Power	Doesn’t cover homes worth less than $500,000

About AIG

AIG traces its roots back to American Asiatic Underwriters, an insurance agency founded in China in 1919. The company opened its first stateside office in New York City in 1926, then converted the New York office into its primary headquarters in 1939. In 1967, the insurer incorporated in Delaware and adopted its current name, American International Group.^[1]

As its full name and origins would suggest, AIG has a strong international presence, with offices in nations like Cuba, Japan, Germany, Brazil, the United Kingdom, Australia, Ireland, India and more.^[1] In total, AIG operates in over 70 countries and jurisdictions and boasts a global workforce of more than 26,000 people.^[2]

AIG provides coverage through several subsidiaries and affiliates, some of which are considered surplus lines insurers, meaning they address specialized and high-risk property and casualty (P&C) insurance needs and, in return, are not bound by state regulations that apply to the admitted insurance market.^[3] This is because AIG’s individual and family policies are tailored to the needs of people with a high net worth.

Availability

AIG operates in some capacity in all 50 states, the District of Columbia, Puerto Rico, Guam and the Northern Mariana Islands.^[3] Meanwhile, its subsidiary specializing in high-value personal insurance products, Private Client Select, is licensed in all 50 states and the District of Columbia.^[4]

That said, not all of AIG’s subsidiaries operate in every region and the coverage types available to you may depend on your state. For example, homeowners in certain states may be unable to get coverage through AIG as the company nonrenewed about 9,000 home insurance policies in California in 2022, while its Lexington Insurance subsidiary nonrenewed about 8,000 policies in Florida the same year.^[5][6]

Coverage

AIG offers a wide range of insurance products across its numerous subsidiaries and affiliates, many of which specialize in covering uncommon risks. Some of the broad categories of insurance available through AIG include the following:

• Home
• Condo
• Auto
• Motorcycle
• ATV
• RV
• Antique and collector car
• Yacht
• Commercial
• Umbrella and excess liability
• Collections
• Equine
• Flood
• Earthquake
• Life
• Accident and health
• Travel
• Identity theft

Consumer Experience

Line of Business	J.D. Power Score (Out of 1,000)[7]	NAIC Complaint Index[8]	NAIC Share of Complaints in U.S. Market[8]
General	N/A	0.45	0.03%
Auto	N/A	0.24	0.02%
Home	831	0.11	0.05%

Customer Service

AIG customers can pay bills, receive support related to their accounts, request corporate information and more by calling 1-800-CALL-AIG (800-225-5244). In addition, AIG’s website lists several other phone numbers and email addresses you can contact to address more specific needs.^[9]

AIG was not among the car insurance companies rated in J.D. Power’s most recent auto insurance study. However, the company ranked well for homeowners insurance, with its overall customer satisfaction score of 831 placing it in the top four among major insurers.^[7]

In addition, AIG Property Casualty Company was the subject of few customer complaints in 2022 according to data published by the NAIC. Across all lines of business, the company received less than half as many complaints as an insurance carrier with its market share is expected to receive. Between home and auto insurance specifically, AIG’s average number of complaints was less than 20% of the projected amount based on market share.^[8]

Features

AIG doesn’t have an app for individual policyholders, although members with commercial travel insurance policies can use the AIG Travel Assistance app to access security and health information. This app is somewhat poorly rated across a small number of AIG insurance reviews.^[10][11]

Platform	Number of Reviews	Star Rating
App Store	14	2.9/5
Google Play	131	2.3/5

While AIG doesn’t offer any specific military perks or discounts, it does support active service members by providing workers’ compensation coverage compliant with the Defense Base Act. In fact, AIG is the No. 1 carrier for Defense Base Act insurance, processing four times as many claims as any other insurance provider.^[12]

Pricing

AIG’s website lists starting rates for a few insurance products such as $50,000 to $100,000 per year for property insurance for energy companies, $13 per month for term life insurance through AIG Direct and 5% to 7% of the trip cost for travel insurance through Travel Guard.^[13][14][15]

Insurance rates vary depending on factors like your location, insurance history, personal characteristics, policy details and more, so you should reach out to AIG or its appropriate subsidiary if you are interested in a more precise life insurance quote or a quote for any other kind of AIG insurance policy.

Keep in mind that AIG primarily caters to high-end customers in the individual market. As a result, you should expect AIG home and auto insurance policies to require high premium payments while also providing higher coverage limits and more coverage types than policies from other major insurers.

Claims

To file an insurance claim with AIG, you can head to the AIG website and select the type of claim you need to file. From there, you will either be given an email address or phone number you can contact to file your claim or be directed to an online portal where you can submit relevant documents and input other information so the company can evaluate and pay claims.^[16]

AIG Car Insurance

AIG auto insurance policies sold through Private Client Select, formerly known as AIG Private Client Group, can provide an extensive assortment of coverage options rivaled by few other car insurance companies. These policies are well suited for wealthy customers with expensive cars or a large number of vehicles to insure.

What’s Covered

The following coverage types will either automatically come with your Private Client Select car insurance or may be available as add-ons to your policy:^[17][18][4]

• Liability insurance
• Uninsured and underinsured motorist coverage
• Medical payments coverage
• Comprehensive and collision coverage
• Rental car reimbursement
• Roadside assistance, towing coverage and lost key coverage
• Gap insurance
• Agreed value coverage
• Trip interruption coverage
• Total loss deductible waiver
• Full glass coverage
• New car replacement insurance
• Vehicle and home alteration coverage
• Vehicle identification number (VIN) theft coverage
• Original equipment manufacturer (OEM) coverage
• Personal property coverage
• Pet coverage
• Emergency living expense coverage
• Cash settlement coverage

What Isn’t Covered

Potential exclusions that could come with your AIG car insurance policy include the following:^[17]

• Intentional damage
• Criminal acts
• Rideshare or delivery work
• Nuclear hazards
• Racing or stunt driving
• War or insurrection
• Wear and tear
• Mechanical breakdowns
• Fungus or mold
• Government confiscation of property

AIG Home Insurance

In the same way, Private Client Select’s homeowners insurance policies can comprehensively insure high-value homes against a broad range of damaging perils.

What’s Covered

Some of the homeowners coverage types you might be able to receive through AIG’s Private Client Select include the following:^[19][20][21]

• Dwelling insurance with the option to upgrade to guaranteed or extended replacement cost coverage
• Other structures coverage
• Personal property insurance with replacement cost value (RCV) coverage
• Loss of use coverage
• Ordinance or law coverage
• Equipment breakdown insurance
• Landscaping coverage
• Pet damage coverage
• Cash settlement coverage
• Personal cyber insurance
• Historic home coverage
• Sewer backup coverage
• Large loss deductible waiver
• Incidental business property coverage
• Green upgrade and green consulting coverage
• Fraud and identity theft coverage
• Kidnap and ransom insurance
• Earthquake insurance
• Flood insurance
• Food spoilage coverage
• Loss assessment coverage
• Loss prevention device coverage
• Domestic staff property coverage
• Fire department charge coverage
• Lock replacement coverage

In addition, Private Client Select separately offers collections insurance, which can provide extra coverage for valuable items like jewelry and art, and excess liability insurance, which can provide millions of dollars worth of coverage in case you are sued for injuring someone or causing damage to their property.^[22]

What Isn’t Covered

Private Client Select primarily sells coverage for homes worth at least $1 million and doesn’t cover homes at all if they are worth less than $500,000.^[20] In addition, the following sublimits will apply to valuables covered by your home insurance policy if you don’t purchase separate collections insurance:^[21]

• $2,500 for money
• $5,000 for securities, stamps, jewelry, furs, watercrafts, guns and trailers
• $10,000 for silverware
• $50,000 for fragile items, grave markers and mausoleums

Additional Policies AIG Offers

There are several other types of coverage that businesses and individuals alike can purchase through one of AIG’s many subsidiaries. See below for an overview of some of AIG’s other major insurance products.

Motorcycle, RV and ATV

Rather than insuring your cars, motorcycles, recreational vehicles (RVs) and all-terrain vehicles (ATVs) separately, Private Client Select allows you to cover all of your vehicles with a single policy. As a result, all of the coverage types included in your auto insurance policy can apply to golf carts, motor homes, classic cars and any other vehicles you choose to add to the policy.^[4]

Commercial

AIG offers extensive commercial coverage options including insurance packages specially designed for numerous different industries. Examples of the coverage types your business could purchase from AIG include the following:^[23]

• General liability insurance
• Commercial property insurance
• Commercial auto insurance
• Inland marine insurance
• Commercial umbrella insurance
• Professional liability insurance
• Liquor liability insurance
• Sexual misconduct liability insurance
• Cyber insurance
• Commercial crime insurance
• Equipment breakdown insurance
• Employment practices liability insurance
• Workers’ compensation insurance
• Commercial flood, earthquake and difference in conditions (DIC) insurance

Condo

Private Client Select’s condo and co-op insurance policies can provide RCV coverage for your belongings and loss of use coverage in case a condo you live in or rent out becomes temporarily uninhabitable. These policies may also cover loss assessment expenses and upgrades to your unit including those that are required by local building codes.^[24]

Life

AIG sells life insurance coverage through its AIG Direct subsidiary. To secure a death benefit for your beneficiaries after you die, you could purchase an AIG life insurance policy such as term life insurance, guaranteed issue whole life insurance requiring no medical exam or universal life insurance. In addition to term and permanent life insurance policies, the company also sells quality-of-life insurance that can provide living benefits before you die if you become seriously ill.^[14]

AIG Discounts

There are no AIG auto insurance discounts or AIG home insurance discounts advertised on the Private Client Select website. Since the company primarily caters to high-net-worth customers, it may not be the best fit for someone who is hunting for discounts to make their policy more affordable by lowering the size of the premiums paid to their insurer.

Nevertheless, there are some actions that could potentially earn you a discount on your homeowners insurance premium payment such as the following:^[25]

• Installing protective devices like external perimeter security, temperature monitoring systems, automatic water and gas shut-off valves, exterior sprinklers, ember-resistant venting and more
• Hiring a full-time caretaker
• Excluding off-premises theft coverage from your policy
• Moving to a gated community with a patrol service
• Renovating your house
• Removing brush from your property every year