AIG Renters Insurance Review

Providing the information you need to find your ideal AIG renters insurance quote

What to Know About AIG Renters Insurance

Have you thought about purchasing renters insurance from AIG? It can be difficult to find all the details of a renters insurance policy to decide if it’s the ideal fit for you. We’re here to lay out all the most important details so you can make an informed decision. We will look at what an AIG renters insurance policy covers, how to get a quote, pricing, and discounts, how to get, renew, or cancel an insurance plan, and how to file a claim. We’ll help you compare AIG with their competitors and help you find the best plan to fit your financial and coverage needs. Your landlord’s insurance only covers the building and appliances or fixtures it came with. To keep your personal possessions safe from fire, theft, and other unexpected events, you’ll need to buy your own renters insurance. Renters insurance also covers your personal liability and will pay for extra living expenses if your rented home becomes uninhabitable. Renters insurance is optional, but its also cheap in comparison to other insurances, and you’ll want it for when disaster strikes. If you plan on purchasing an AIG insurance policy, we’ll help you find an affordable one with the coverage you need.
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What AIG Renters Insurance Covers

So what exactly does AIG renters insurance cover? AIG provides the standard renters insurance coverage for your personal property, loss of use, and personal liability. Personal property coverage will help replace or repair your personal belongings if they are lost or damaged in a covered event such as a fire or theft. Loss of use helps cover some of the additional living expenses from relocating temporarily, like hotel bills and meals, if your home becomes uninhabitable due to a covered event. Liability coverage protects you if you damage someone else’s property or if a guest sustains bodily injuries in your home. Personal liability typically starts at $100,000 and more can be purchased -- $100,000 seems like a lot but consider how quickly legal and medical fees can eat through that amount of money. They offer replacement cost for your damaged personal belongings, meaning they don’t factor in depreciation. Even if your TV is 5 years old, you’ll get a new replacement despite the disparity in actual value today. They also provide landscaping coverage. You want to protect your valuables, your home, and yourself. Renters insurance from AIG can help you do all that for a low monthly cost.
As with most renters insurance policies, AIG’s policies do not cover flooding or earthquakes. Covered perils include but are not limited to fire, smoke, vandalism, hail, explosions, falling objects, and riots. If you want protection from other perils, like flooding, earthquakes, or sinkholes, you have to purchase an add-on (also called an endorsement or rider) or separate policy. Renters insurance will usually cover water damage from inside the unit, such as from faulty appliances or broken pipes. However, direct damage from flooding and even indirect damage caused as a result of flooding, such as sewer backup, isn’t covered. Flood insurance is purchased separately and usually covers your home’s structure, damaged fixtures, carpeting and window treatments, functional systems (electrical, plumbing, heating, air conditioning), household appliances, and personal belongings. You can often purchase flood insurance from your chosen provider; if not, there are other private market options. You can also purchase government flood insurance through the National Flood Insurance Program (NFIP). It costs around $700 a year on average. This can be more expensive than the renters insurance policy but remember that damage from floodwater can cost you tens of thousands. While AIG does not cover flood damage in their standard policy, consider getting flood insurance if you’re at risk.
If you have pets, you’ll want to know if AIG renters insurance cover pet damage. Unlike many renters insurance policies, AIG does cover damage done by household pets. Most companies will only cover damages from pets under personal liability, such as when a guest is bitten by your dog, or your pet causes damage to your neighbour’s property. In these cases, it works the same way as for when you’re responsible for causing property damage or bodily harm. If you have a large dog or when known for previous incidents, your insurance agent may suggest upping your personal liability limits to around $300,000. On top of this liability coverage, AIG may cover damages done to your home and belongings by your pets, which is very unusual for providers. Be aware that not all pets are insurable. Many companies will exclude exotic pets and certain dog breeds that are associated with aggressiveness or destructive tendencies. Speak with an insurance agent to determine what types of pet damage are insurable under your policy, and if your pet is excluded from this coverage.

AIG Renters Insurance Review and Costs at a Glance

First we’ll give a brief overview of how AIG performs as a company offering renters insurance. AIG was established as a general insurance agency over 100 years ago and is still going strong, earning a Financial Strength Rating of A (Excellent) from AM Best. The Better Business Bureau (BBB) gave AIG renters insurance an A+, while JD Power gave them a 4/5, which is an above average score on indicators of customer satisfaction. Unfortunately, they received a subpar rating from NAIC, which indicates an above average number of customer complaints compared to other insurance providers. The average AIG renters insurance cost is $X.XX per year. AIG renters insurance offers the usual protection; it provides coverage for your personal property (furniture, jewelry, electronics, and so on), your personal liability (for damage to other properties and guest injuries), and for loss of use in case where you rented house or apartment becomes uninhabitable. Additional coverage options will cost you extra; you can choose the amount of coverage that gives you the best sense of security, and we’ll show you how to get more affordable prices for your AIG renters insurance policy.
AIG Renters Insurance Stats OverviewStats
Average Cost in the U.S for AIG Renters Insurance Annually$285.12
Average Cost in the U.S for AIG Renters Insurance Monthly$23.76
AIG Renters Insurance JD Power Rating4/5
BBB rating for AIGA+

How Much is Renters Insurance Through AIG in Your State

Price is another huge consideration for people looking to buy insurance. So how much is renters insurance through AIG? Renters insurance rates will vary based on factors like your credit score, deductible amount, and location. Renters insurance from AIG is typically around $X.XX per month, but your actual quote depends on the factors mentioned above and numerous others. The most expensive state for renters insurance is Oklahoma, with an average cost of $X.XX per month. The least expensive state is Delaware, with a much lower average payment of $X.XX per month.

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How to Get a AIG Renters Insurance and Auto Insurance Discount

There is plenty of opportunity when it comes to discounts and negotiating lower prices on your plan. AIG is less forthcoming than some companies about their renters insurance discounts, but there are standard discounts that are almost always available from providers. One of the most common discounts is for bundling two or more types of insurance together. You can bundle your renters insurance with your car insurance to save up to 10% on your premiums. Most companies will automatically offer bundles when you apply for your new insurance plan. An added benefit is reducing the number of insurance companies you need to deal with. AIG provides employee discounts and membership benefits for certain professional associations like the American College of Surgeons (ACS). Many providers offer loyalty discounts for long-term customers and no-claim discounts for customers who didn’t file a claim with their previous provider. You may also look into the possibility of referral discounts, discounts for setting up auto renewal, and discounts for paying your premiums in full instead of in monthly installments Those are just some of the savings that may apply to renters. Call and ask an AIG agent to see what discounts they have available.

How Much Does AIG Renters Insurance Cost Versus Competitors

Next we’ll compare how AIG’s renters insurance costs square up to their competitors’ costs. Remember that these averages likely won’t match your personalized quote; factors like location will apply. AIG’s most expensive competitor is The Hartford; their insurance comes in at an extra $X.XX per month. AIG’s least expensive competitor (but still more expensive) for renters insurance is State Farm, with a difference of $X.XX per month on average. AIG has extremely competitive prices when compared to other renters insurance providers, as you can see. Remember that you want to look at more than price; make sure the company offers the coverage options you want.

Getting in Touch with AIG Renters Insurance

How do you make an AIG renters insurance claim? Many people worry that their claims will be denied. If you have the proper documentation and your provider is operating fairly, filing a claim can actually be easy. You might be filing a claim because your possessions were stolen or damaged, or because someone was injured in your home. You have to provide evidence for your claim; that means collecting any relevant information and documentation. This can include pictures, videos, witness information, an inventory of your valuables, and more. One common mistake is to throw out damaged items – it’s actually best to keep these until you’ve spoken with an insurance agent. Do your best to document damage or loss as soon as it occurs; the time frame in which to submit your claim can run out if you wait too long. Check online with your provider to see what documents they’ll need and keep your policy number nearby. You can file a claim by contacting your independent AIG insurance advisor, or by calling AIG’s customer service directly. Certain claims may be filed online or submitted by mail. You can also email or call AIG’s customer service with any questions you have.
If you’re already with AIG, or you’re thinking ahead, you might want to know about getting an AIG renters insurance renewal. Typically, AIG will send a renewal notice 4 to 8 weeks before your renewal date. You can renew your AIG insurance online simply and quickly. They will first verify your email and date of birth. After that, you’ll go to a screen where you’ll confirm your renewal details and price. Always make sure to go over this section carefully, to see if anything has changed. You’ll then be asked to check your information and provide payment information. AIG offers a step-by-step guide on their website. You can make one-time payments or set up recurring payments. Some providers will offer discounts or other perks for setting up auto-renewal or automatic payments. As ever, you can contact an agent or customer service at AIG to help you through the process by phone. AIG may offer discounts if you have consecutive years of claims free history as an incentive to renew. Renewing your insurance ahead of time will also help ensure you’re not left with any gaps in coverage.
If you’re changing your insurance provider, no longer renting, being added to your partner’s insurance, or you’re simply not happy with AIG’s services, you’ll want to know how to cancel your AIG renters insurance policy. AIG does not make it as easy as some other providers to cancel your renters insurance policy online. You may have to mail in your intent to cancel or speak with an agent directly. Information you’ll typically need is your policy number, desired end of coverage date, and your name, address, phone number, and date of birth. Note that you may be charged a cancellation fee and a prorated premium for the portion of the policy period that you were covered. After you cancel, you should receive a printed notice of cancellation to confirm it’s gone through. You may also receive a cancellation notice if you have payments past due, as AIG won’t want to insure people who are late on their payments. This notice will list outstanding payments and their due dates. However, payment on canceled policies does not guarantee that AIG will reinstate your coverage.

Getting a AIG Renters Insurance Quote and Deciding Whether AIG is Right for You

You can get a free AIG renters insurance quote online. You’ll have to fill out your desired coverage amount and some basic personal and address information. You can also call AIG’s Quote Hotline to speak directly with an agent. It’s always best to be ready with any relevant information, like your valuables inventory, credit score, and building specifications. If you speak with an agent they can likely offer you a more tailored quote than the online quotes tool. We’ve learned a lot about AIG renters insurance. If you can’t find a specific bit of information you’re looking for, always err on the side of caution and call one of AIG’s agents to get the answers you need. Always ask about what discounts are available – you might be offered more savings that way. Think about what coverage add-ons or extra policies might be a good idea, like flood insurance. We strongly recommend you shop around and compare quotes and coverage options from multiple providers. Using the framework we’ve provided here, do some of your own research into what different providers have to offer. That way, you can have peace of mind knowing you’ve chosen a provider with an affordable policy that meets your needs.