If AIG goes under, what will happen to my auto insurance policy?
If AIG goes under, what will happen to my auto insurance policy?
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?
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2 Responses
1.31.2010
Best Answer – Chosen by Voters 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.
1.31.2010
File a claim and see what happens. Maybe you can find another insurance company going forward.