AIG home insurance review: Premier coverage for high-value homes

AIG offers high-dollar policy limits, exclusive coverage add-ons, and complimentary wildfire and hurricane protection services — best for affluent homeowners looking to purchase multiple insurance policies with one luxury carrier.

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By

Jennifer GimbelJennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

Edited by

Kara McGinleyKara McGinleySenior Editor & Licensed Home Insurance ExpertKara McGinley is a former senior editor and licensed home insurance expert at Policygenius, where she specialized in homeowners and renters insurance. As a journalist and as an insurance expert, her work and insights have been featured in Forbes Advisor, Kiplinger, Lifehacker, MSN, WRAL.com, and elsewhere.

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AIG

AIG logo

Policygenius rating

Our proprietary ratings methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the “Ratings methodology” section for more details.
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4.2

AM Best rating

A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

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The bottom line

AIG home insurance is best for homeowners with high-value homes and assets who need a policy with high coverage limits — it only writes policies for homes with insured values of more than $750,000 in most states ($1 million in New York). It's especially ideal for those in high-risk areas prone to wildfires or hurricanes — it offers complimentary disaster mitigation and protection services to further safeguard your home. 

Its base policy also includes several premier coverages you’d pay extra for with other carriers, including guaranteed replacement cost coverage, water backup coverage, and increased limits for blanket personal property coverage. But you’ll need to purchase multiple insurance policies through AIG Private Client Group in order to get covered — it doesn’t write stand-alone home insurance policies.

If you're looking for a more traditional home insurance company with modest coverage options, multiple discount opportunities, and competitive rates, AIG isn't for you. You'll find better policies with more appropriate coverage options elsewhere.

Pros

  • Offers higher coverage limits for high-value homes

  • Guaranteed & extended replacement cost coverage available

  • Complimentary wildfire and hurricane mitigation services

Cons

  • Can’t purchase a stand-alone home insurance policy

  • Only insures homes valued at $750,000+

  • Can’t file claims online

Basic coverages offered

AIG homeowners insurance policies include these six basic coverages to protect your home, belongings, and personal liability:

  • Dwelling: Pays to repair or rebuild the structure of your home after a covered loss.

  • Other structures: Pays to repair or rebuild other structures on your property not connected to your home, including detached garages, storage sheds, and fencing.

  • Personal property: Pays to repair or replace your personal belongings after a covered loss, including furniture, clothing, tech gadgets, and other stuff you own.

  • Loss of use: Pays for hotel stays, restaurant bills, pet boarding fees, and other temporary living expenses after a covered loss if you need to live elsewhere while your home is being rebuilt.

  • Personal liability: Pays for legal and medical expenses if someone is injured or their belongings are damaged while at your home and you’re found legally responsible.

  • Medical payments: Pays for small-dollar medical bills if someone is injured while at your home — regardless of who is at fault.

Additional coverages offered

Additional coverages that come standard with AIG’s base policy — rare compared to other insurance companies — include:

  • Guaranteed replacement cost for your home: Pays the full cost of rebuilding your home after a covered loss — regardless of whether the rebuild cost exceeds your dwelling coverage limit.

  • Extended replacement cost for your home: Extends your dwelling coverage limit up to 50% or 100% (varies by state) in the event rebuild costs exceed your policy limit after a covered loss.

  • Replacement cost for your personal property: Pays to replace your personal belongings with new items, regardless of depreciation or wear and tear.

  • Blanket and scheduled personal property: Offers higher blanket personal property coverage limits than standard home insurance policies, as well as the option to schedule coverage for specific items to ensure your belongings are fully protected.

  • Business property: Offers up to $25,000 in coverage if your work laptop or other business property is damaged in a covered loss.

  • Water backup: Coverage if water backs up through your sewer or drains, or if your sump pump stops working.

  • Loss assessment: For homes located in an HOA, this policy add-on offers up to $100,000 in loss assessment coverage for your portion of damage to common areas in your shared community that you’re responsible for.

  • Contents away from premises: Offers worldwide coverage for your personal belongings in case they’re damaged or lost while you’re away from home.

  • Landscaping: Covers damage to your landscaping after a covered loss, including a high $5,000 limit for any one tree, shrub, or plant.

  • Building ordinance: Pays the extra cost of getting your home up to code after a covered loss.

  • Personal property coverage for private staff: Covers damage to the personal property of private staff employed at your home.

  • Damage caused by pets: Covers the cost to repair or replace your own personal belongings that are damaged by your pets — standard policies limit coverage to your guests’ property only.

  • Food spoilage: Covers spoiled food if your refrigerator or freezer stops working due to a power outage or breakdown.

  • Reimbursement for fire department charges: Reimburses you for out-of-pocket fees if the fire department is called to your home. 

  • Lock replacement: Pays to replace your locks and keys — without having to pay a deductible.

  • High-deductible policy options: Lower your insurance rates by taking on more up-front risk with a high-deductible policy — with options up to $100,000.

  • Cash settlement option: Choose to receive a cash settlement after a total loss rather than rebuilding your home.

Here are four optional coverages you can add on to your AIG homeowners insurance policy for extra protection:

  • Equipment breakdown: Offers up to $1 million in coverage to repair or replace AC systems, computers, entertainment equipment, and other tech gadgets that break down due to mechanical or electrical failure.

  • Green rebuilding: Covers the added cost to rebuild your home with eco-friendly materials after a covered loss.

  • Deductible waiver: If your deductible is $25,000 or less and your home insurance claim is greater than $50,000, AIG will waive your deductible.

  • Household SafeGuard coverage: A special endorsement offered through AIG that pays for expenses incurred after a traumatic event, including kidnapping, home invasion, stalking, or car-jacking.

Protecting your home through AIG also comes with several complimentary mitigation and preventative programs, including:

  • Wildfire Protection Unit: This service helps you proactively protect your home against wildfire damage if you live in a high-risk area, including access to a fire-blocking agent called Thermo-Gel that can be applied to your home and landscaping. It also provides ongoing monitoring in the buildup to a wildfire and access to private firefighter services as it nears your home.

  • Hurricane Protection Program: This program helps homeowners in coastal areas prepare for hurricane season through access to a hurricane mitigation specialist who recommends ways to fortify your home against wind and rain damage. It also provides ongoing monitoring in the leadup to a hurricane, as well as expedited claims and access to qualified restoration companies after the storm hits.

  • Architectural Legacy Service: Designed for homeowners of historic or architecturally significant properties, this program offers a risk assessment of your property, custom reports outlining your home’s history, and recommendations for local specialists trained in restoring historic residences.

  • Smart Build Service: This program is the most preventative of all. If you’re building a new home, AIG sends risk managers to help craft the architecture in a way that best minimizes risk.

Ratings methodology

Price

3.8/5

AIG scores a 3.8 out of 5 on our price rating scale thanks to its slew of smart home, security, and multi-policy discounts it offers homeowners. This score doesn’t factor in the average cost of an AIG homeowners insurance policy, since it varies so widely depending on the home’s rebuild value, location, features, and more.

Customer experience

4.0/5

AIG earns a solid score on our customer experience rating scale. It had fewer complaints than other home insurance companies in 2021, according to the National Association of Insurance Commissioners (NAIC) National Complaint Index Report. And earned an above-average score in J.D. Power’s overall customer satisfaction survey. However, AIG didn’t fare as well in J.D. Power’s claims satisfaction study — earning the second-lowest score of the companies surveyed.

Coverage options

4.3/5

AIG earns a high score on our coverage options rating scale thanks to its slew of premier coverages — including guaranteed replacement cost coverage, water backup coverage, and increased blanket personal property coverage — that come standard with its base policy. 

Financial strength

3.5/5

AIG earns a respectable score on our financial strength rating scale due to its solid rating of A- from AM Best, and sub-par ratings from Standard & Poor's and Moody’s — scoring A+ and A2 ratings, respectively.

How much does AIG home insurance cost?

Because AIG is designed exclusively for homes valued at $750,000 or more, rates vary widely based on where your home is located, its rebuild value, custom features and fixtures, and the wealth of unique artwork, jewelry, and other priceless possessions you have to insure. 

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What discounts does AIG offer?

You can save on the cost of AIG home insurance if you qualify for any of these smart home, security, or multi-policy discounts.

Smart home discounts

  • Burglar alarm: Must be a direct-reporting or central station system

  • Fire alarm: Must be a direct-reporting or central station system

  • 24-hour signal continuity: Ensures uninterrupted communication with central station or direct-reporting fire and burglar alarms

  • Residential sprinkler system: Discounts vary depending on if the sprinkler system protects all areas of your home (living space, basement, garage) or just mechanical areas

  • Sprinkler system water flow alarm: Must activate a central station or direct alarm

  • Automatic water shut-off valve: Must actively monitor all plumbing in your main residence and automatically close and shut off the master plumbing valve if a leak occurs

  • Temperature monitoring system: Must activate a central station alarm to prevent freezing of home systems

  • Gas leakage detector: Must activate a central station alarm to prevent gas explosions

  • Automatic seismic shut-off valve: Must be attached to gas lines and automatically activated during an earthquake

  • Back-up generator: Must be permanently installed to kick in for heat, light, alarm, and sprinkler systems

  • Lightning protection system: Must include lightning rods and lightning surge protection for all electrical wiring and electronic devices throughout the house

Security discounts

  • Guard gated community: Your gated community must limit car and foot traffic to entrances controlled by guards or locked gates, require identification upon entrance, and announce visitors

  • Security protection for entire external perimeter: Must include one of the following: closed-circuit TV cameras monitored 24/7, detection system outside the residence that’s motion-activated and monitored 24/7, or a 24/7 on-site security guard

  • Full-time caretaker living at the residence year round: Only applies if there isn’t a 24/7 on-site security guard

  • Perimeter gate protection: Car and foot traffic is limited to entrances controlled by locked or electronic gates — doesn’t apply if you already live in a guard-gated community

Multi-policy discounts

  • Excess flood policy credit: Applies if you have an AIG excess flood insurance policy with a premium of $2,000+

  • Private collections policy credit: Applies if you have an AIG private collections policy for your art, antiques, or other priceless possessions that has a premium of $1,000+

  • Personal excess liability policy credit: Applies if you have an AIG personal excess liability policy with coverage limits of $5 million+

AIG home insurance state availability

AIG offers home insurance policies in all states except Hawaii and Alaska.

What to expect with AIG home insurance

  1. How to get a quote: You can get an AIG home insurance quote online through Policygenius or by scheduling an appointment with an AIG Private Client Producer by calling 877-418-1016 or emailing inquiry@pcgexchange.com.

  2. Customer service options: You can get in touch with an AIG customer service representative  for payments and billing support by calling 888-978-5371.

  3. How to file a claim: You can file an AIG home insurance claim by contacting your independent insurance advisor or calling 888-760-9195 for immediate assistance.

  4. How to cancel your policy. You can cancel your AIG home insurance policy by contacting your independent insurance advisor — their contact information should be listed on your policy’s declaration page.

AIG home insurance in the news

  • In October 2022, AIG took a $450 million hit in Q3 due to insured losses from Hurricane Ian. (Insurance Business America)

  • In March 2022, AIG’s excess and surplus (E&S) subsidiary Lexington Insurance pulled out of the Florida home insurance market — leaving around 8,000 wealthy customers without coverage. (Insurance Journal)

  • In February 2022, AIG pulled out of the admitted homeowners insurance market in California, instead opting to write home insurance policies in the Golden State solely through its E&S subsidiaries. (S&P Global Market Intelligence)

AIG vs. other home insurance companies

Compare AIG home insurance to other luxury insurance carriers in the industry:

Company

Policygenius rating

AM Best rating

Cost

AIG

4.2/5

A

$$$$$

Chubb

4.3/5

A++

$$$$$

Openly

4.6/5

A-

$$

Frequently asked questions

Is AIG a good insurance company?

AIG is a good insurance company for high-net-worth homeowners looking to take out multiple insurance policies with high coverage limits and exclusive coverage add-ons. But if you're in the market for a more traditional home insurance policy for a home insured for under $750,000, you’ll want to look elsewhere.

What type of insurance is AIG?

AIG is a luxury insurance carrier that offers a suite of insurance policies for high-net-worth individuals, including home, auto, yacht, valuable collections, equine, and excess personal liability coverage.

Is AIG leaving California?

While AIG left the voluntary home insurance market in California, it’s still writing home insurance policies in the Golden State through its excess and surplus (E&S) subsidiaries.

Author

Jennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

Editor

Kara McGinley is a former senior editor and licensed home insurance expert at Policygenius, where she specialized in homeowners and renters insurance. As a journalist and as an insurance expert, her work and insights have been featured in Forbes Advisor, Kiplinger, Lifehacker, MSN, WRAL.com, and elsewhere.

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