- Offering dwelling coverage limits up to $800,000
- The option to increase this coverage to $875,000 automatically upon renewal
- Loyalty credits offered to customers who remain insured by Aegis
- Discounts available when holding multiple policies through Aegis
- An open peril endorsement offered for your personal property (HO-5)
- Extended dwelling replacement cost coverage in case your home is rebuilt
- An A+ rating through the Better Business Bureau
- Mainly positive customer experience reviews online
- No online quoting tool to get an estimate on the cost of an Aegis homeowners policy
- Poor reviews when it comes to filing claims
- No current information on financial strength through AM Best
- Expensive renewal offers that can often amount to $200+ annual premium increases
When shopping for homeowners insurance, learning more about the company you are choosing can help you determine exactly what kind of coverage you are getting and how it compares to other companies out there. Aegis is a major homeowners insurance company that is licensed in all 50 states. They offer insurance on standard homes, mobile homes, rentals, and manufactured homes. With their comprehensive list of coverages, it is easy to see why many choose Aegis as their trusted insurance provider.
Types of Aegis homeowners insurance coverage
When shopping for homeowners insurance, you need to be sure you are adequately protected. Aegis offers a wide range of coverage limits to ensure that every customer has the right protection in place.
Dwelling coverage
- Aegis offers up to $800,000 worth of dwelling coverage on its homeowners insurance policies. This coverage is crucial because it is what will cover your home in case it is damaged.
- They use an automatic inflation guard that keeps up with current inflation rates. This accounts for any changes in your home’s value that will adjust automatically to protect the dwelling.
- Upon renewal of a homeowners insurance policy, Aegis offers up to $875,000 worth of dwelling coverage. This gives you the incentive to remain loyal to the company by obtaining more protection by simply renewing your policy.
- Extended replacement cost comes standard with Aegis’s HO-3 policies. It will extend your dwelling coverage by 25% if you must rebuild your home. Most companies offer this as an endorsement while Aegis includes it in their standard policies.
Personal property coverage
Aegis allows customers to upgrade personal property coverage from standard 16 named perils to open peril protection. This turns the HO-3 policy into an all-risk HO-5.
Liability coverage
- While you never anticipate an accident, you are covered under your Aegis policy in case you are liable for personal injury that occurs inside your home.
- Aegis offers a rate of $100,000 in personal liability coverage that is included with your homeowners insurance policy. This coverage can pay for medical bills and cover the costs of any legal fees that might occur.
- If you have animals in your home, they are also protected by liability coverage. In case an animal harms a guest in your home, Aegis includes $50,000 worth of animal liability coverage.
- Aegis claims to accept all swimming pools and trampolines while certain liability exceptions apply.
Travel trailer coverage
If I own a mobile home, should I get homeowners insurance or auto insurance? None of the above. You should get mobile home insurance. Aegis Security’s Trailblazer Program is designed specifically to provide insurance coverage for travel trailers.
The travel trailer coverage allows for the repair and replacement of original parts, equipment, and accessories. This program provides protection from a collision, fire, flood, windstorm, theft, glass breakage, and vandalism. Insured parties can also opt to purchase Personal Effects Coverage for the items inside their mobile homes. Travel trailer owners can also purchase a vacation liability coverage if they use the mobile home for a vacation residence.
Manufactured home coverage
Since manufactured homes are cheaper since it is pre-fabricated and assembled on-site. This means that the foundation is not quite sturdy and the value depreciates over time. With Aegis Security, manufactured homes are insured for up to $250,000. The manufactured home insurance coverage is available for owners, renters, or tenants.
The rental policy provides coverage for up to 8 units. Seasonal units, such as Park Model or other Travel Trailer units, can be insured if they are permanently sited. Since manufactured homes will depreciate in value, this insurance policy provides a preference for homes that are 15 years and newer.
Unoccupied dwelling
The insurance for vacant homes is typically more expensive since it is exposed to greater risk. However, Aegis Security still offers a specific insurance policy for unoccupied dwellings. This program provides coverage for vacant manufactured homes, homes undergoing renovation, homes for sale, and other unoccupied dwellings.
The repair and replacement cost for this type of coverage is up to $300,000. This insurance coverage provides protection from damages caused by fire, lightning, windstorm, smoke, volcanic eruptions, explosion, riot, or vandalism.
Aegis home insurance discounts & additional coverages
When shopping for homeowners insurance, you are looking for the best deal without sacrificing any of the coverage. Through Aegis, you are able to get certain discounts that will apply to the premium you pay.
Discounts
- Aegis offers loyalty credits to those customers who keep coverage in place over several years. These credits add up and can be applied as discounts to your premium, making it beneficial to remain a loyal customer.
- When you purchase auto insurance through Aegis, you will be given a discount on your homeowners insurance policy. It is always helpful to use a single insurer for your needs, and the discount adds incentive.
- Having multiple policies with Aegis is another way to get a discount on your homeowners insurance policy. They offer this discount if you use any of their other products as well as a homeowners insurance policy.
Endorsements and additional coverages
An endorsement is an addition to a homeowners insurance policy that provides extra coverage. These are important because there are certain exclusions to all homeowners policies. When you have endorsements in place, this gives you more comprehensive coverage.
- You can add an open perils endorsement for your personal property coverage to your standard Aegis homeowners insurance policy which upgrades your policy to HO-5. This gives you broader coverage as compared to the regular homeowners coverage that offers protection from 16 named perils.
- Aegis also offers common endorsements such as equipment breakdown coverage.
Earthquakes
When you live in an area that experiences earthquakes, you may already know that homeowners insurance policies always exclude them. Aegis offers you tools that will allow you to shop for an earthquake insurance policy to make sure you are protected.
Dwelling fire coverage for a secondary home
If you have a second home that is used for vacationing or is being set up as a rental property, Aegis offers dwelling fire coverage to protect this property. This is perfect for those with additional properties that also want coverage for these dwellings.
Aegis homeowners insurance premiums
The cost of the insurance policy plays a major role when choosing an insurer. With Aegis, you are going to see premiums that are specific to the needs of each individual homeowner.
They do not offer an online quoting tool, so it is difficult to state an average premium. The easiest way to get a quote is by calling a licensed agent.
Because many other companies offer online quoting tools to provide estimates, it is hard to rank Aegis when it comes to the affordability of their products. Many customers dislike that they are unable to verify what the initial premium will be until they provide specific information to get a quote.
Even despite the lack of factual premium information available online, Aegis has been known to give customers competitive pricing. Many reviews state that the homeowners insurance is affordable in most cases.
Aegis home insurance claims & customer service
Filing a claim is never a favorable experience, but knowing how an insurance company will likely handle this process is important.
Customers have expressed difficulties when filing claims through Aegis. They have reported instances where the company has denied claims which caused the need to pay out-of-pocket for the damages.
There are also complaints when it comes to the renewal rates offered by Aegis. Customers have expressed that Aegis is known for raising premiums up to $200 upon renewal, making the policies unaffordable over time.
A majority of customers agree that their customer service experiences have been great or good with Aegis, and around 16% of them feel that the service is unfavorable.
Aegis’s financial strength
Every insurance company has its own financial standing based on companies such as the Better Business Bureau and AM Best. Knowing where Aegis stands financially will help you decide if they are the right company to provide your homeowners insurance.
BBB
Through the Better Business Bureau, Aegis gets an A+ ranking. This means the company is in great standing when it comes to its financial stability and business practices. They currently have no official complaints.
AM Best
Aegis is not currently rated on the AM Best website because Aegis Security has asked to stop participating in AM Best’s interactive rating process.
In February 2023, AM Best downgraded the long-term issuer credit rating (Long-Term ICR) to “bbb” (Good) from “bbb+” (Good) and affirmed the financial strength rating (FSR) of B++ (Good) of Aegis Security Insurance Company. The outlook of the financial strength rating has been revised to stable from negative. However, the outlook for the long-term ICR is negative. After this, Aegis requested to not participate in the AM Best ratings and AM Best withdrew the ratings.
History of Aegis
Aegis Security Insurance Company began its operation in 1977 and focused mainly on mobile homes and low-value houses. Due to the specialized nature of their policies, they have developed a good reputation with clients looking for various kinds of insurance policies. Pat Kilkenny and Bob Kimmel purchase Aegis Security Insurance Company in 2013 and from this point on, they were able to earn an A- rating from AM Best until their ratings have been recently downgraded and they refused to participate in AM Best rating system in 2023. They are also licensed in all 50 states, which allows them to have a wider customer base.
The verdict
Aegis is a good insurance company that offers a variety of homeowners insurance products. When it comes to homes that are harder to insure, Aegis is typically an insurer that will provide coverage for these dwellings.
It can be hard to get insurance for homes in wildfire zones, but Aegis is often willing to ensure those at risk. This can be beneficial when you keep getting denied by other companies.
If you have a secondary property, Aegis makes it easy to get coverage for this dwelling by offering coverage. There are many different types of homes insured by Aegis. This can range from larger newer homes to homes that were built in the 1900s and above.
It has decent ratings across the board, and most customers agree that they are happy with the insurance coverage they are receiving from Aegis. With their incentivized discounts and endorsement options, people find it beneficial to stay insured by Aegis.
There is a lack of information available surrounding Aegis’ premiums for homeowners insurance. This can make it difficult to determine if they are an affordable company, as this information is subjective.
Customers have complained about the claims process, which is a big factor to consider in case you need to file a claim through Aegis. Some claims have been denied, causing the homeowner to pay for the damages on their own.
While other aspects of the customer service are known to be decent, some customers have complained that Aegis raises premiums drastically upon renewal. This often makes it unaffordable in the long run.
