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AIG Homeowners Insurance is offered through AIG, which stands for American International Group. The AIG Homeowners Insurance Program is made possible through a partnership between AIG Insurance and Homesite Home Insurance. Specializing in the homeowners market, AIG Homeowners Insurance strictly sells insurance products that cover dwelling structures and personal property for condominium owners, homeowners, and renters.
Is AIG home insurance the best choice for you? Read on to get some detail about AIG and it’s homeowners insurance coverage and then browse through the additional home insurance reviews to compare additional companies.
Read through this AIG home insurance review, take a look at the reviews of AIG homeowners insurance left by customers at the bottom of this page, and then enter your zip code into the box on the side of this page to compare free home insurance quotes.
AIG was founded ninety years ago as a small insurance company in Shanghai. By 2007 it had grown to having 74 million customers and an annual revenue of $110 billion dollars; yet by 2008 it had gone from $1 trillion dollars in assets to the brink of bankruptcy and in dire need of government assistance. It is currently undergoing restructuring with the intent of once again becoming a successful and profitable venture.
Homesite® Home Insurance was founded in 1997 and currently offers homeowners insurance to 45 states and the District of Columbia. With a Demotech rating of “A,” it is considered financially stable in its insurance products and claims payments. Since it only deals with homeowners insurance and not an entire line of insurance products for auto, health, life, etcetera, it commits its focus on customer service and efficient claims processing.
Standard Homeowners Insurance Coverage typically includes home replacement cost, additional living expenses, building structures that are not attached, business property that is off of the premises, business property that is on the premises, computers under certain hazards, contents for personal property, currency, debris removal within limits, fire department service charges, manuscripts, firearm theft, theft of valuables for furs, jewelry, and watches, theft of silverware and gold, landscaping for trees, plants, and shrubs, and watercrafts and trailers. Optionally you can receive Personal Property Replacement Cost and Personal Injury Liability.
Further optional coverage that you can obtain through Homesite® Home Insurance includes Extended Replacement Cost on Dwelling, Replacement Cost on Personal Property, Additional Limits of Liability, Earthquake, and Water Back up and Sump Overflow. Homesite® also offers an Identity Theft insurance program that would cover your expenses related to identity theft for up to $15,000. Personal Injury is an optional endorsement that increases your liability limits in the event of slander or privacy invasion. Discounts are available for Fire Alarm Credit and a Companion Policy Discount.
You have the option of increasing your policy limits on Wind and Hail Deductibles and on other structures that are located on the insured premises. Personal Property and Business Property can also be purchased for higher limits. An additional premium will buy hazard insurance for Scheduled Personal Property such as fine arts, jewelry, musical instruments, as well as various equipment. If you choose to increase your coverage for your computer(s), you can buy Special Computer Coverage which would include physical loss due to any reason, including accidents. Owners of watercrafts can choose to extend their liability on the insured watercraft, but this does not include physical loss.
Although renters do not need homeowners insurance, they can benefit from Renters Insurance by determining the value of their belongings. An estimated value of appliances, audio equipment, clothing, computer equipment, electronic equipment, fitness equipment, firearms, furniture, furs, gold, jewelry, landscaping equipment, photographic equipment, silverware, video equipment, and any other personal property can help you determine the amount of coverage you should obtain in the event of loss due to accident, fire or theft. You also need to consider liability in the event someone gets injured in your apartment, condo, or home that you are renting. Renters Insurance Coverage from Homesite® covers personal property from $15,000 to $100,000, medical expenses up to $1,000, and liability expenses up to $100,000.
Condominium owners are frequently insured through a master policy with their condo association. However, these master policies usually cover the initial value of the condo and do not take home improvements and upgrades into consideration. Furthermore, the condo association’s policy, if in effect, usually covers the physical structure of your dwelling (the condo itself) but it probably does not cover any of your personal effects.
Personal property adds up to an expensive investment, and should you need to replace any of it due to accidents, fire, or theft, you will benefit from having insurance coverage for these items. You should also be sure you are covered for personal liability or medical coverage in case a guest suffers an injury while visiting your home. Condo coverage is available through Homesite® for standard condominium policies including additional living expenses, business property for both on or off the premises, computers, currency, debris removal, fire department service charges, manuscripts, personal property replacement and/or contents, silver and gold, trees and other landscaping, unattached building structures, valuables, and watercrafts and trailers. You also have optional personal injury liability and additional coverage for cash and valuables, business personal property, hazard protection, loss assessment, and special computer coverage. The condominium policies also offer coverage for domestic employee liability. Earthquake coverage is available for all states excluding the state of California.
Homeowners, renters, and condominium owners all need to consider insurance coverage for their homes and belongings. In the event of disaster, small or large, homeowners insurance can save you thousands of dollars all the way up to the insured value of your home. Whether that is $10,000 or $1,000,000, you most likely will not be able to cover the loss yourself without an insurance policy. Start shopping for homeowners insurance now and get free quotes to compare different insurance rates using the free online quote tool.
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