AIG Insurance Reviews: Rates And Coverage

• AIG offers standard coverage options that can work for a variety of vehicles, from everyday cars, to classic vehicles, to golf carts.
• AIG is a better provider for owners of classic or luxury vehicles, but drivers looking for cheap coverage with multiple options and discounts should look elsewhere.
• AIG has a history of scandals and fraud that insurance shoppers should be aware of.

In 2009, Farmers Insurance bought out the car divisions of American International Group, Inc. – except for the Private Client Group. But in February 2023, AIG announced it was moving to a new independent platform called Stone Point LLC and rebranding as Private Client Select Insurance Services (PCS).

As part of our team’s 1,950 hours assessing the car insurance industry, we’ve read hundreds of online reviews and conducted customer surveys. In this article, we’ll take a look at AIG insurance reviews, coverage, and more. Then, we’ll see how AIG auto insurance stands up to some of the industry’s best car insurance companies.

Before our review, it’s important to know that AIG underwent a scandal in 2017 after former chief executive Maurice Greenberg admitted to a $500 million accounting scam. He was ordered to pay $9 million while AIG ex-CFO Howard Smith was ordered to pay $900,000.

According to CBS News, the then-New York Attorney General Eliot Spitzer filed a suit in 2005 after AIG admitted to bogus transactions in 2000 to 2004 to make itself look better financially – by about $500 million.

We give AIG an overall rating of 2.7 out of 5.0 stars. Its score was dragged down by its industry standing and customer service reviews. However, if you have high-end lifestyle vehicles, AIG insurance could be a good fit.

How We Rated AIG Insurance

We refresh our review standards multiple times per year to keep our information current. Overall, our insurance research falls into six main categories:

• Industry standing
• Availability
• Coverage
• Cost and discounts
• Customer service
• Technology

In an effort to provide accurate and unbiased information to consumers, our expert review team collects data from dozens of auto insurance providers to formulate rankings of the best insurers. Companies receive a score in each of the following categories, as well as an overall weighted score out of 5.0 stars.

Industry Standing: 1.0 Stars

Companies with strong financial ratings and customer-first business practices receive the highest scores in this category. AIG earns an excellent A rating from AM Best for its financial viability. This means the company is more likely to pay out on claims.

However, AIG isn’t rated on the Better Business Bureau (BBB), which is based on customer service. We give AIG’s industry rating a low rating largely for its financial fraud charges.

Availability: 5.0 Stars

We consider availability by state as well as exclusions for specific groups of drivers. We give AIG a perfect score for its availability in 50 states and no listed exclusions.

Coverage: 3.3 Stars

This rating is based on a company’s offered standard insurance types, its maximum coverage limits, and its list of add-on coverages. AIG offers a variety of insurance types, along with worldwide liability coverage, high liability limits, and add-on policy options. 

However, there are many popular add-on insurance products that AIG doesn’t list on its site. We rate it slightly above average for its good coverage options, but the company loses some points for the coverage options it doesn’t have.

Cost And Discounts: 2.9 Stars

Our research team reviews auto insurance rate averages generated by Quadrant Information Services for a variety of drivers in every state. Companies with lower prices and many car insurance discount opportunities receive the best scores. 

Since AIG doesn’t appear in our Quadrant data, we weren’t able to collect sufficient cost information. On top of that, the company doesn’t list down its discounts, so we give AIG a middle-of-the-road rating.

Customer Service: 3.0 Stars

Our reviews team combs through customer reviews on sites like the BBB, Trustpilot, and Google Reviews. We also look at consumer feedback studies from industry experts like J.D. Power. AIG doesn’t even rank in J.D. Power studies, which shows that other insurers have more to offer for customer satisfaction. AIG loses some points from us on this.

Ultimately, AIG gets an above-average rating for its subpar performance across customer review sites. It has a low customer experience rating on the BBB and 1.5-star customer rating out of 5.0 on Trustpilot.

Technology: 1.0 Stars

Auto insurers with mobile apps, advanced online services, and telematics are more likely to meet consumer needs. While AIG has several apps in the App Store, none of them are for car insurance in the U.S. Due to AIG’s lack of apps and telematics programs, we give AIG’s use of technology a low rating.

AIG Quick Facts

Founded: 1967
Availability: 50 states and international
AM Best financial strength rating: A (Excellent)
BBB rating: Not rated

The American International Group (AIG) is one of the world’s largest insurance and finance companies. AIG is mainly for people with luxury cars and multiple vehicles. AIG does business through a number of subsidiaries, including:

• American General Life Insurance Company
• AIG Life And Retirement
• American Home Assurance Company
• Fuji Fire and Marine Insurance Company
• The United States Life Insurance Company
• The Variable Annuity Life Insurance Company

AIG Insurance Industry Ratings

AIG isn’t represented in the 2022 Property and Casualty Insurance Industry report by the National Association of Insurance Commissioners (NAIC). The NAIC is an organization that studies the earned money, written premiums, customer complaints and more of insurance companies across the U.S. 

According to the NAIC, AIG was the 12th largest property and casualty insurance company in the United States in 2021. However, AIG auto insurance accounted for only a small portion of the company’s written premiums – about $250 million. In contrast, Geico wrote about $33 billion in premiums that year. 

The bulk of AIG’s policies are for other types of general insurance, commercial insurance, workers’ compensation, medical insurance, home insurance, and industrial products.

While there’s no concrete answer for the average cost of AIG car insurance, according to Quadrant Information Services, drivers in the U.S. typically pay around $1,730 annually for full-coverage car insurance. 

However, the actual amount you’ll pay for AIG insurance will vary depending on your state’s requirements as well as demographic information, vehicle information, and driving habits. Here are a few factors that could influence your AIG quote:

• Age and gender
• Marital status
• Vehicle make and model
• Age of car
• Driving history
• Driving activity

One thing to keep in mind is that AIG as a brand advertises to potential clients with higher-end lifestyles. On top of car insurance, it offers yacht insurance and homeowners insurance that’s clearly meant for policyholders with multiple homes – from condos to owned properties in other countries. This points to the likelihood that AIG’s car insurance will be higher than average.

If you’re a driver that needs a cheaper car insurance policy, you’re more likely to find what you need at other national companies like State Farm, USAA, and Geico.

In the tables below, we’ve provided the average premiums for full-coverage and minimum-coverage car insurance from top providers in the country. The difference between the two types of coverage is important.

If you have budgetary limits, you can opt to get minimum-coverage auto insurance, which mostly protects other drivers and their property. Full-coverage insurance combines comprehensive and collision, which protects your car. If possible, it’s always best to choose this amount of coverage to fully protect yourself and not have to pay as much out of pocket.

Full-Coverage Car Insurance Cost Comparison

While we don’t have car insurance data for AIG from Quadrant Information Services, you can get a quote from AIG and compare the rate to the average premiums listed below. These are what the 10 most popular providers charge on average for full-coverage auto insurance. 

The averages are for a 35-year-old driver with a clean driving record and good credit. Your own rates could vary significantly between these companies, so it’s best to get real quotes from multiple providers when shopping.

Cheapest Auto Insurance Coverage

Here’s what 10 popular providers charge on average for minimum-coverage auto insurance:

Car Insurance Cost By State

The table below shows the cheapest car insurance average rates by state. All rates are for minimum-coverage policies:

AIG Insurance Rate Comparison For 16-Year-Olds

If you’re a teen driver or the parent of a teen driver, you can get a quote from AIG insurance and compare the rates with the average premiums for 16-year-old drivers below. If you add your teen to your own auto insurance policy, you could save money on car insurance. 

Keep in mind that these are just averages, and your own rates from these companies could vary significantly.

AIG Insurance Rate Comparison For 21-Year-Olds

You can compare a quote from AIG insurance to the average premiums for 21-year-old drivers below. Keep in mind that these are just averages, and your own rates from these companies could vary significantly.

AIG Auto Insurance Discounts

AIG Private Client Select Insurance Services doesn’t have a comprehensive list of discounts available on its website, but speaking with an agent will help with getting accurate cost information. To make sure you get the best coverage for the lowest price, we recommend getting quotes from multiple providers before making any decisions.

With AIG car insurance, you can get the standard coverage options listed below. Some of these may be required by the state in which you live.

• Bodily injury liability (BI): Covers medical bills for other people in accidents that you cause. It comes in per-person and per-accident limits, and is required in 48 states.
• Property damage liability (PD): Covers repairs to other cars in accidents that you cause, and it comes with a per-accident limit. It’s required in 48 states.
• Collision: An optional coverage that pays to repair your car after an accident, and you can use it no matter who caused the accident.
• Comprehensive: Repairs your car after environmental incidents, like floods, fire, natural disasters, and vandalism. It’s optional coverage. 
• Uninsured/underinsured motorist (UM/UIM): Provides extra coverage for you, your passengers, and your car if the at-fault driver doesn’t have enough insurance. UM and UIM are required in 19 states, plus Washington, D.C.
• Medical payments (MedPay): Covers your medical bills no matter who caused the accident. You can sometimes use MedPay to pay your health insurance deductible.
• Personal injury protection (PIP): Covers your own medical bills and lost wages, no matter who’s at fault. It’s required in Delaware, Oregon, and the 12 other states.

AIG Auto Insurance Add-Ons

At this time, signing up for a bundled home and auto policy with AIG’s Private Client Group is the only way to get auto insurance through AIG. In this article, AIG car insurance is synonymous with PCS car insurance. You can get the following benefits and coverage with its car insurance:

• Unlimited capacity: This lets you cover an almost unlimited amount of vehicles per policy ranging from regular-use cars and collector cars to motorcycles, golf carts, and motor homes.
• 360° Support: You’re covered for personal property up to $2,500 per occurrence in a car that’s damaged or stolen. It also covers you and your pet for emergency living expenses up to $1,000 per occurrence if you’re far from home.
• Higher liability limits: Up to $1 million in liability can be included, and you can add umbrella coverage of up to $100 million.
• Agreed value: AIG car insurance policies can pay the agreed-upon value in the case of a total loss, instead of the current market value.
• Worldwide liability coverage: These policies cover accidents around the world.
• Cash settlement option: In the event of a 50-percent loss in value after an accident, you can take a cash settlement instead of repairing your vehicle.
• New vehicle replacement option: AIG will replace your car with one of the same make, model, and year if your new car is totaled within three years. Or, you can choose the same make but go with a similar model – you can switch to an electric or hybrid drivetrain, for example.
• Rental car reimbursement: There’s no per-day limit for rental vehicles under a PCS policy, and you can pick a rental of comparable value to your own car. There’s a $12,500 limit–per–rental occurrence.
• Original manufacturer parts coverage: AIG auto insurance can provide OEM parts to repair luxury and classic vehicles.

Does AIG Cover Rideshare Drivers?

AIG doesn’t list rideshare insurance among its coverage options, but it’s important to get rideshare coverage if you drive for companies like Uber, Lyft, DoorDash, Postmates, or any other kind of rideshare or food delivery service. This coverage protects you and your car by filling in the gaps of rideshare insurance offered by rideshare/delivery companies.

Can AIG Cover Classic Cars?

AIG’s All-in-One Protection policy covers numerous different kinds of vehicles, including antiques and classic collectors cars. It also offers agreed-value coverage, which means AIG works with you from the start to come up with the value of your automobiles. Should your car experience a total loss that’s covered in your plan, you’ll get that agreed-value amount, no matter what your car’s depreciation is.

Can AIG Cover SR-22 Insurance?

AIG doesn’t state anywhere on its website whether it covers SR-22 insurance. If you’ve been convicted of a serious driving violation, you could get court-ordered to fill out an SR-22 form with your state to prove you’re insured for three years. SR-22 insurance typically covers these kinds of high-risk drivers:

• Drivers convicted of a DUI or DWI
• Uninsured drivers who cause an accident
• Drivers with numerous traffic violations or speeding tickets
• Drivers involved in violations that involve major endangerment or other drivers and/or pedestrians

These kinds of drivers will have to pay a fee to fill out this SR-22 form and should expect to pay more for their insurance rates compared with drivers who have a clean driving record.

What AIG Is Missing

Due to the company’s lack of full transparency, it’s difficult to say what’s missing from AIG’s car insurance coverage and discounts. It’s always best to seek out an insurance provider that caters to your unique driving needs.

If you’re a driver looking for ways to save money, here are few popular coverage options you can often find with other providers:

• Accident forgiveness: Your price won’t increase after your first accident.
• Diminishing deductible: Your insurer reduces your deductible for each policy period that you go without a driving violation or car accident.
• Gap insurance: Guaranteed asset protection covers what you still owe on your loan and the depreciated value of your car after a totaled accident.
• Away-at-school discount: Available when your student is going to school at least 100 miles away and doesn’t have a car.
• Claims-free cashback discount: If you haven’t made any car claims during a certain time period, you could be rewarded with a discount.
• Continuous insurance discount: This applies when you renew a policy.
• Defensive driving discount: For any approved defensive driving courses, you could get a discount after successfully completing that class.
• Good student discount: This kicks in when a student on your car policy earns good grades at school.
• Teen driver discount: As high-risk drivers, teenagers have an increased premium. You can earn a discount just for adding your young driver to your policy. They usually have to stay on the policy for at least a year.
• Usage-based driving program: Also known as a telematics driving program, you get rewarded for safe driving habits. Depending on the provider, you could also be penalized for bad driving behavior.

Whenever you shop for car insurance, we recommend getting quotes from multiple providers so you can compare coverage and rates. As mentioned, factors such as your age, driving history, and vehicle make and model can affect your insurance premium, so what’s best for your neighbor might not be best for you.

Other AIG Insurance Products

Policyholders of Private Client Select Insurance Services can add coverage for art collections, yachts, wine collections, and other valuables. Clients can also get life, travel, and homeowners insurance through AIG.

From a client’s perspective, AIG has a lot to offer. When you own a luxury car or a high-value vehicle, you don’t want the cheapest coverage – you want the best coverage. High limits, worldwide coverage, and agreed value are a few extra perks that come with AIG’s coverage. Since you’re paying for luxury insurance, you also get a few extra perks in the customer service department.

The company’s website lists some real-life customer service scenarios. In one case, a client’s SUV got stuck in a crevasse and was inaccessible to tow trucks. AIG dispatched a helicopter to the area to lift the vehicle, solving the problem. In another case, a client’s limited-edition Ferrari Enzo was almost totaled. 

Since the car was rare, the client asked AIG to have it repaired instead of taking a settlement. However, the only qualified technicians were located at Ferrari in Italy. So, AIG shipped the car to Italy for the work, and the company even flew its owner to Italy twice to see the progress.

Unfortunately, since AIG doesn’t insure a large number of drivers, there aren’t many first-hand AIG insurance reviews. The company’s few reviews on the BBB site are about AIG’s life insurance, travel insurance, or investment products. Looking at other sources online, AIG tends to get average reviews.

AIG Insurance Complaints

While there weren’t any recent reviews specifically about AIG’s car insurance on the BBB site, there were some complaints about car insurance issues:

“I had to pay my own deductible $500 out of pocket and other car rental expenses that my insurance company only paid so much. I had to pay [an] extra $450 out of pocket. I’m looking at [a] total of $950 that they owe me.”

– Anonymous on BBB

“I was using a rental car and I was rear-ended. The rental car company sent their repair bill to [AIG] … [AIG] chose not to cover all the bills and then I was left … being charged for extra expenses from the rental car company.”

– Anonymous on BBB

NAIC Complaint Index: AIG Insurance

For the NAIC complaint index, AIG’s car insurance got a .38 rating in 2021, which means that AIG has far less the amount of normal complaints that car insurance companies typically have. A 1.0 rating is the industry average, and higher ratios indicate more complaints while lower ratios indicate fewer criticisms.

Below, you can see how AIG’s 2021 rating compares to other companies:

Our team gives AIG Insurance a rating of 2.7 out of 5.0 stars because it provides comprehensive coverage with lots of perks, but it’s primarily available for people with luxury vehicles. If you’re a jet setter with multiple properties worldwide, or if you have a collection of luxury vehicles, AIG car insurance could be a good option for you.

The company has connections around the world and can provide global coverage. However, if you’re a standard driver looking for cheaper coverage, there are better places to shop. We recommend getting quotes from multiple providers so that you can get the best deal. 

AIG Auto Insurance Competitors: Top Companies

We’ve researched a number of the top car insurance companies around and ranked them on things like customer service, cost, availability, and coverage options. State Farm and Geico rank high on our list, and many drivers find great rates with both companies.

State Farm: Best Overall

We choose State Farm as Best Overall provider for its many coverage options, add-ons, and discounts that make it stand out. In addition to offering roadside assistance and rental car reimbursement, the insurance giant has accident forgiveness, gap insurance, and nationwide availability.

If you want to save up to 30 percent on your premium, enroll in State Farm’s Drive Safe & Save™ telematics insurance program. Unlike many other usage-based programs, you won’t be penalized for bad driving.

Read more: State Farm insurance reviews

Geico: Best Discount Availability

Geico also performed very well in our ranking of car insurance companies. Geico auto insurance is the second-largest car insurer in the U.S. In many states, Geico comes out as the cheapest option. Geico’s discounts include savings for good students, military members, and federal employees.

While Geico doesn’t have the global coverage options that AIG auto insurance does, it’s available in 50 states. It also has a strong classic and luxury car policy option with coverage provided through Assurant or American Modern.

Read more: Geico insurance reviews