American Home Assurance Company Auto Insurance Review

American Home Assurance Auto Insurance headquartered in New York made a significant profit in the year 2010. The recorded profit is $1.35 billion. This contrasts with the troubles its parent company is currently having, American International Group (AIG).

During the years 2007 to 2010, AIG was having a major financial setback along with several other large auto insurance companies in the country at this time. Try our FREE quote generator on our website by simply entering your ZIP code!

American Home Assurance and AIG

American Home Assurance Auto Insurance did $7.7 billion dollars in sales in the year 2010, but it has been affected by AIG’s difficulties. AIG has been and remains one of the largest insurance providers in the entire world, and offers all types of auto insurance in around 130 countries.

The Bail Out of AIG

Over the years, AIG gained prominence for acquiring more and more companies that caused it to become larger and larger. After a certain point, it could no longer sustain this growth. It became one of the many large companies that accepted bail out funds from the United States government.

AIG required $182 million dollars to help it out of its financial problems, and this meant that the federal government was owner of around 80 percent of the company.

AIG put a plan in motion that would help it begin to repay the government’s loan, but the federal government still has a major ownership share in AIG.

The Future of American Home Assurance Auto Insurance

It appears that AIG is working to keep its auto insurance companies intact because it recently announced that the main objective of its business is to offer products such as affordable auto insurance. It continues to underwrite and sell auto insurance policies at the moment. As American Home Assurance has not been one of the insurance companies that is being liquidated by AIG, it is very likely that it will remain in business into the future.

AIG has been selling several of its assets, but American Home Assurance Auto Insurance does not appear to be a part of this action. AIG had significant assets in the wealth management business, and has currently sold several of these properties to buyers in the United Arab Emirates, Germany, Switzerland, Canada and Hong Kong.

Properties Being Sold By AIG

Furthermore, AIG life insurance properties were also sold in transactions that took place in Taiwan and Japan. The company also sold its interests in MetLife for the money it needed to begin repaying its government loan. To extricate itself from investments that were not performing well, AIG sold several properties, such as its share in the London City Airport.

AIG sold properties that were not making a profit and were losing money. American Home Assurance Auto Insurance is not this type of company, so those who would like to look into purchasing an auto insurance policy from this company may not need to concern themselves with the possibility that AIG will divest itself of this property.

The A.M. Best Credit Rating

Another sign that American Home Assurance Auto Insurance will remain a safe place to purchase auto insurance is the fact that American Home Assurance Auto Insurance received such a high rating from A.M. Best. A.M. Best rates insurance companies based on their financial solvency.

If a company is very likely to be able to pay all claims that are filed by its customers whether the economy is in a recession or not, it receives a high rating. The highest ratings that insurance companies can receive from A.M. Best are A++, A+, A and A-.

American Home Assurance Auto Insurance’s Excellent Rating

American Home Assurance Auto Insurance received an A, and this puts American Home Assurance Auto Insurance in the “Excellent” category. Excellent means that American Home Assurance Auto Insurance only has the slightest chance of not being able to fulfill its auto insurance obligations.

American Home Assurance’s Website

American Home Assurance Auto Insurance does not currently have a website where people would be able to learn more about the products that are offered. Being able to do business with their auto insurance companies online is very important to people because of the convenience it offers. With a website, auto insurance clients:

• Pay their bills online
• File claims
• Contact a representative with questions and concerns
• Find out what they need to know about their policies

Two Ways to Contact American Home Assurance

The only way of contacting American Home Assurance Auto Insurance at the moment appears to be by calling the headquarters’ telephone number or by sending a letter to their downtown address in Manhattan. This company had a website previously, and it may obtain a new one in the future. Enter your ZIP at our website to start saving BIG today!!

Without a website, it’s impossible for people to know what American Home Assurance Auto Insurance has to offer by way of auto insurance through research on the Internet. AIG’s website does not list auto insurance as a product that it sells, so people will need to call American Home Assurance Auto Insurance directly for a product update and a quote.

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