21st Century insurance is a wholly owned subsidiary of AIG insurance. The company was originally founded in 1958, and AIG announced in May of 2007 that it intended to purchase the company. The company specializes in special insurance, including motorcycles and high risk drivers, and reportedly insures more than 1.5 million vehicles.
At the end of 2006, 21st Century held an A+ rating with A.M.Best, the third highest rating possible. In the time since then, as with many other insurance companies, the company has suffered some financial setbacks, not the least of which being the financial problems of the parent company. Individuals can rest assured that their insurance coverage is not endangered, but investors would be well advised to research the company fully before making capital investments.
21st Century Reviews
Online customer ratings of 21st Century Insurance are less than favorable, with 44% of those who have taken part stating that the company did not live up to their expectations. By contrast, only 14% of those who participated regarded the company as completely satisfactory. Keep in mind, however, that unhappy customers are far more likely to participate in online surveys of this type, and most insurance companies end up with customer ratings that are not reflective of their actual real-world acceptance level.
21st Century insurance sells car insurance policies in 29 states. The company uses direct mail, telephone and the Internet as its primary means of reaching customers, allowing potential customers to receive insurance quotes, review coverage and apply for new policies at their own convenience.
The Bottom Line
The biggest worry customer of 21st Century Insurance may have is related more to the future of the parent company than with it. In that respect, keep in mind that the United States government has literally declared that AIG is too big to fail, so the danger of the company disappearing from the insurance landscape is slim to none over the long term.