Jessica is a freelance writer, professional researcher, and mother of two rambunctious little boys. She specializes in personal finance, women and money, and financial literacy. Jessica is fascinated by the psychology of money and what drives people to make important financial decisions. She holds a Masters of Science degree in Cognitive Research Psychology.
Jessica has been a contributor at Insurify since July 2023.
3+ years experience in insurance and personal finance editing
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Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
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American International Group Inc. (AIG) is a global insurance organization that specializes in a range of insurance and financial products for high-net-worth people and businesses.
The company sells homeowners insurance through its underwriter, Private Client Select Insurance Services, which specializes in custom-built policies. AIG earned above-average rankings for customer satisfaction and claims satisfaction from J.D. Power and an excellent financial strength rating from AM Best.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
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$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$118/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$183/mo
AIG Private Client Select offers comprehensive homeowners insurance for high-net-worth people. Whether you live on the coast, in the mountains, or in a gated community, AIG specializes in complex insurance needs. AIG even covers seasonal residences, condos, and properties abroad in some jurisdictions. To get homeowners insurance with AIG, you have to speak with one of AIG’s independent insurance agents.
All-risk coverage: This provides protection against property damage or loss from a variety of sources.
Contents coverage: Contents coveragecan provide reimbursement for damaged personal property, up to your coverage limit.
Guaranteed rebuilding cost: In most states, AIG offers enoughcoverage to rebuild your homeand other permanent structures with no cap.
Extended rebuilding: This covers a certain percentage above the cost of rebuilding your home. AIG offersextended rebuilding coverageapplicable at 100% in California and 50% in Hawaii and South Carolina.
Cash settlement: If you experience total loss of your home, you can choose to receive a cash settlement up to your coverage limit instead of rebuilding.
Building ordinance: This coverage pays for upgrades to satisfy local building codes during rebuilding.
Additional living expenses: Also called loss of use coverage, additional living expenses insurancecovers necessary expenses while living away from home if it’s uninhabitable. This includes loss of income if you rent your home to others.
Backup of sewer and drains: This covers physical damage due to overflow orbackup of sewers, drains, or sump pumps, up to your insurance policy limit.
Contents away from premises: This coverage pays for damages to yourpersonal propertywhile you’re traveling.
Food spoilage: If there’s a power outage or your fridge stops working, your insurance will cover your food up to your policy limit. Note that this coverage has a special $250 deductible.
Loss assessment: If you’re a member of a homeowners or condo association and have to contribute to an expense due to property damage, your policy can cover up to $100,000 for your share of a covered loss assessment.
Damage from domestic pets: This covers the cost of repair or replacement if your pet damages your items.
Landscaping: If a named perilcauses landscaping losses, this coverage can kick in to cover costs.
Property of domestic staff and guests: This protects the property of your guests or staff if a covered loss at your residence damages their items.
Loss prevention device: You can use up to $2,500 in coverage to install an approved loss prevention device, such as a water shutoff system.
Fire department charges: This coverage can reimburse you for charges associated with the fire department responding to your home.
Lock replacement: If you lose your keys or someone steals them, your coverage can pay for lock replacement.
Business property: You can have up to $25,000 for a covered loss to a business property that you lease or own.
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Optional AIG home insurance coverages
AIG also offers the following optional home insurance coverages:
Equipment breakdown
Equipment breakdown coverage pays to repair or replace a range of home equipment, with limits of $50,000 to $1 million.
Household SafeGuard
You can get up to $250,000 to cover expenses incurred from a traumatic event, such as a kidnapping or home invasion.
Green rebuilding cost
This covers the cost of repairing, replacing, or restoring damaged property or home contents with green materials.
Special limits on contents
This provides additional coverage for certain items in your insurance policy, such as private collections, automobiles, or yachts.
Waiver of deductible
If your deductible is $25,000 or less and your loss is more than $50,000, AIG will waive your deductible with this coverage.
Availability of AIG home insurance
AIG Private Client Select home insurance is available in all states and Washington, D.C. The company and its network of partners offer insurance products in approximately 190 countries and jurisdictions worldwide.
But AIG has reduced property insurance coverage in some states, such as California, due to a high risk of wildfire.[2] It’s also reducing sales to high-net-worth homeowners in approximately 200 ZIP codes across the country, including in New York and Florida.
AIG home insurance cost
The average annual cost of AIG home insurance for a policy with $300,000 in dwelling coverage is $1,591. This is lower than the national average premium of $2,337. AIG has cheaper home insurance on average than notable competitors like Nationwide and Farmers, which have respective average annual premiums of $2,223 and $2,623.
But the cost of home insurance can vary depending on factors such as where you live, the amount of coverage you need, your past claims history, and the value of your home. To get an accurate home insurance quote, contact an AIG insurance agent.
AIG average rates by dwelling coverage amount
Higher dwelling coverage amounts will have more expensive annual premiums. The following table shows the average annual cost of home insurance from AIG based on dwelling coverage amount.
Dwelling Coverage Amount
▲▼
Average Annual Premium
▲▼
$100,000
$842
$150,000
$1,028
$200,000
$1,215
$250,000
$1,403
$300,000
$1,591
$350,000
$1,823
$400,000
$2,056
$500,000
$2,516
$1,000,000
$4,152
AIG average rates by state
Home insurance rates vary by state due to location-based risk factors, like population density, crime rates, and weather patterns. The following table shows how average annual premiums for AIG insurance vary by state.
Though AIG sells coverage nationwide, Insurify only has averages for the following states:
AIG has above-average scores on J.D. Power’s customer satisfaction and property claims satisfaction studies. The company also has fewer customer complaints than expected, according to the National Association of Insurance Commissioners (NAIC) Complaint Index.
On Trustpilot, AIG has a rating of 1.2 out of 5 stars with 147 reviews covering different insurance categories. AIG doesn’t have a rating on its Better Business Bureau (BBB) company profile, but it has had 116 complaints from the last 12 months. Common complaints focus on claims handling and the amount of time and effort required to submit and get a claim paid.
AIG industry ratings
The following table lists third-party ratings for AIG. The rating from AM Best indicates that AIG has a high level of financial stability and the means to pay out claims. The score for J.D. Power indicates a high level of customer satisfaction, and the NAIC score indicates a lower number of complaints than expected in the market.