If AIG goes under, what will happen to my auto insurance policy?
Saturday, June 13th, 2009 at
7:47 am
easyxpress asked:
I had AIG as my auto insurance. Few months ago, we had an auto accident. If AIG is in bankruptcy, will they pay out the claim if any? Also, should we switch out the AIG to other insurance company for our auto insurance?
I had AIG as my auto insurance. Few months ago, we had an auto accident. If AIG is in bankruptcy, will they pay out the claim if any? Also, should we switch out the AIG to other insurance company for our auto insurance?
Tagged with: Aig • Bankruptcy • Company Insurance
Filed under: Auto Insurance
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Insurance companies put reserves on claims. If the claim happened a few months ago it should be settled unless there was a lawsuit filed. I would imagine that AIG will sell off the auto insurance policies to another company (this is actually fairly common just not advertised a lot). If you have a local agent you should call them and ask them about the status of your claim and also about your auto insurance.
File a claim and see what happens. Maybe you can find another insurance company going forward.