Agency Insurance Company Review & Complaints: Auto Insurance (2024)

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Agency Insurance Company (AIC) Summary

Researching the best insurance companies can be difficult, especially if you’re looking at a smaller company that doesn’t have a lot of information on its website. This is something you would likely run into if you were considering AIC Insurance.

We’re here to help. We’ve done the research for you and gathered it all together here for you to in this Agency Insurance Company review: what policies are offered by Agency Insurance Company, who sells these policies, the company’s financial information and consumer ratings, and any customer complaints against them. Keep reading to find out what you need to know about AIC car insurance quotes and more.

Something of a new kid on the car insurance block, Agency Insurance Company of Maryland (AIC) is a regional company that specializes in vehicle insurance. From personal auto to commercial and specialty vehicles, AIC has a full range of options and promises competitive rates.

Before you read our Agency Insurance Company review, take a moment to enter your ZIP code, and compare rates now.

Are AIC insurance quotes high?

AIC does not offer online quoting and instead will direct you to an agent who can provide you with an insurance quote. Since the company doesn’t offer quotes online and also doesn’t write policies in our rate test states, we’re unable to provide a rate comparison.

The company promises low rates; however, they write policies only through agents, which generally points to higher premiums than direct-buy companies. Furthermore, small regional insurers rarely come in at premium levels that can compare to the larger national companies.

We can get an idea of AIC’s rates based on mandatory reporting data from insurance companies that sell policies within Maryland. Using this information, the Maryland Insurance Administration publishes insurance company rates based on specific scenarios so that consumers can get an “apples to apples” comparison.

Many factors get incorporated into car coverage rates, so each scenario is very specific, as it will be when you get your insurance quote. Here’s just one example:

Specifications: Single female, age 50, not a homeowner. Drives a 2014 Hyundai Elantra 60 miles each day total for work,  20,000 miles annually. No accidents or violations in the past three years. No credit history. No companion policy discount. Policy includes: liability $100,000/$300,000/$100,000; full PIP $2,500; uninsured motorist $100,000/$300,000/$100,000; comprehensive with $250 deductible; collision with $500 deductible.

Average Annual AIC Car Insurance Rates for Single 50-Year-Old Female by ZIP Code

As you can see, even ZIP code is a factor used in determining premium rates. This is complicated stuff, which is exactly why we like to help you out with this research.

That said, AIC does advertise low rates and budget-friendly payments, so they may well be competitive with similar companies. AIC provides financing through its sibling company, Agency Services, Inc., or ASI. AIC and ASI share a holding company, Agency Holding Company of Maryland, Inc.

ASI predates its affiliation with AIC. ASI was once an insurance premium financing company that did business in all 50 U.S. states. At one time, it had financed more than $500 million in insurance premiums. Based on a review of selected state records, ASI’s corporate status was withdrawn in 1990 in all but the states in which it currently conducts business.

One additional note is that ASI’s website provides instructions for how AIC’s agents can arrange for ASI financing of premiums related to policies through the Maryland Automobile Insurance Fund (MAIF). MAIF is a state-run insurance fund that provides car insurance to drivers who aren’t able to obtain private insurance.

Read more: Maryland Auto Insurance (MAIF) Insurance Review & Complaints

What insurance products does AIC offer?

AIC insures all kinds of vehicles, offering a standard personal car program and commercial vehicle coverage. It also covers many different specialty vehicles, such as motorcycles and off-road vehicles.

Does AIC offer car insurance?

AIC writes standard car insurance coverage that includes all of the basics required by law, as well as common options such as comprehensive car insurance, collision, roadside assistance auto insurance, and rental reimbursement car insurance. It has a fairly good list of available discounts as well, including options to bundle policies, homeowners (this is a discount for owning a home, not an auto-home discount), and paid-in-full discounts.

AIC also offers the option of accident forgiveness, which is one of the most popular add-ons and is not always offered by smaller insurers. Buying accident forgiveness as part of your car insurance coverage will help to keep your premiums from increasing if you’re in an at-fault accident, so this can be an appealing option. As always, check the fine print to make sure you’re getting what you expect from your current policy. It can be a huge benefit to pick up coverage items such as this that are not typical of coverage requirements.

Can you cover other vehicles with AIC?

AIC offers coverage for a long list of other types of vehicles, with coverage and availability varying by state, including:

Private Vehicle Types Insured by AIC

In addition, AIC provides personal coverage that can include the following:

Personal Insurance Policies Available from AIC

Read more: Can I get car insurance for a car that is used for towing or hauling?

So if you have a garage full of recreational vehicles, AIC could potentially provide you with one-stop shopping.

Does AIC provide commercial auto insurance?

AIC writes commercial car business coverage for vehicles that are used in various types of business activities, including:

Commercial Vehicle Types Insured by AIC

AIC policies include all of the basics of coverage as well as add-ons to suit the insurance needs of a particular business, allowing policyholders to customize their experiences. Among the commercial options they offer are:

Commercial Vehicle Insurance Policies Offered by AIC

AIC could be a particularly convenient solution for smaller construction companies and other similar businesses.

What do AIC insurance reviews and complaints say?

AIC (as Agency Services, Inc.) currently has a B+ rating with the Better Business Bureau (BBB). There have been 20 complaints against the company in the past three years, nine of which were closed in the past 12 months. This B+ rating is made according to the BBB’s assessment of the timeliness and relevance of AIC’s responses to these complaints and is intended to represent how AIC interacts with its customers.

Google reviews for the company seem to be either extremely favorable or extremely unfavorable, averaging out to somewhere in the middle. Comments are written by AIC  insurance agents as well as customers, so relying on the overall rating number may not be the best approach from a customer perspective.

The complaints from customers, and from those who have had an accident involving an AIC customer, fall into two main categories: poor customer service and poor claims handling. Complaints included delays in communication such as calls not returned or claims not resolved in a timely fashion and dissatisfaction with the claims investigation outcome and AIC’s billing processes. Very few consumers complained about the quality of their insurance policy itself.

Looking at some recent data from the National Association of Insurance Commissioners (NAIC), an insurance oversight organization, we see an unfavorable trend in terms of the number of complaints lodged against AIC:

Three-Year History of AIC Private Passenger Policy Complaints

Total premiums have increased for AIC through this time period as well, so perhaps the company is experiencing some growing pains that have resulted in increased customer complaints. This possibility seems to be supported by a recent Glassdoor review in which a former employee describes a growing caseload for claims adjusters with no hiring to meet the increased demand.

What is a subrogation claim in the car insurance claims process? Subrogation is when a company covers the claim for its customer but then pursues the other, at-fault driver to recover the loss. Based on Maryland court filings, this firm found that AIC has filed about 25 subrogation cases a year for the last several years, and note that this is a high number given AIC’s smaller size.

How are AIC’s financial strength ratings?

Let’s get a little more technical and take a look at AIC’s financial health. The credit rating agency A.M. Best looks closely at the financial condition and operating performance of companies and provides expert guidance regarding its findings. For AIC, A.M. Best provides the following assessment:

• Grade: B++
• Financial outlook: Stable

A.M. Best, a grade of B++ means that a company has a good ability to meet its ongoing obligations.

It’s also worth noting that A.M. Best downgraded AIC’s financial outlook from positive to stable in October 2018 due to an apparent increase in a measure that correlates with solvency.

In other words, AIC could be at some risk in the future of not making enough money to pay its bills, including claims. This is something worth keeping an eye on, especially if this particular trend continues.

However, A.M. Best also noted that AIC’s other measures, such as its investment strategy and reserves, indicated adequate financial health.

AIC Independent Agents

Since AIC’s business model involves the use of independent agents, let’s spend a few moments talking about what that means to be an independent agent.

An independent insurance agent is someone who sells policies on behalf of many different companies. They are different from captive agents, who work for only one company, or brokers, who work on your behalf to help you shop around for the right insurance policy for your insurance needs. (For more information, read our “What is the difference between a car insurance agent and a car insurance broker?“).

This includes walking you through the process of getting an insurance quote, helping you make informed decisions, and helping you get the peace of mind you deserve by making insurance simple.

Read more: What is the difference between a captive and independent car insurance agent?

When shopping for car insurance, it can be useful to know about the different types of agents, who they work for, and how they make their money. Understanding what sales channel a company has chosen to deploy can also shed some light on that company’s operations and business practices.

As a reminder, laws vary by state, so also be sure to check what rules and regulations are applicable in your state when shopping for insurance solutions.

Who is Agency Insurance Company of Maryland?

Agency Insurance Company (AIC)  was founded in 1990 in Maryland to provide an affordable alternative for car insurance to local drivers and business owners. It has since expanded coverage to two other states, offering insurance products in Pennsylvania and Virginia. The company’s headquarters is located in Hanover, MD.

Unlike many other smaller car insurers, AIC writes policies for a complete range of vehicles, from motorcycles to trailers. The company aims to provide cost-efficient coverage with a solid program that offers multiple options and a variety of discounts.

AIC also promises low down payments and flexible payment plans, things we usually see offered by non-standard insurers. AIC, however, does not present itself as a non-standard insurer, at least not in any obvious way.

AIC policies are sold through independent agents across the states they serve they do not offer online quoting or direct sales. There are more than 1,500 of these agents, so if you’re looking for an AIC agency in Maryland, Pennsylvania, or Virginia, you shouldn’t have to look too far to find an AIC agent near you.

Traversing the Claim Process With Agency Insurance

Ease of Filing a Claim

Agency Insurance Company offers multiple ways for policyholders to file a claim, providing flexibility and convenience. Customers can file a claim through the following methods:

• Phone: AIC has a toll-free, 24/7 claims line at 1-800-841-5241, allowing customers to report accidents and initiate the claims process over the phone.
• Fax: Claims can also be submitted via fax at 410-684-3271.
• Email: Policyholders can send claim-related information to [email protected].

While AIC offers these options for reporting claims, it’s important to note that they do not provide an online claims form for direct submission through their website. Therefore, there is no Agency Insurance Company login for online claims submission.

Average Claim Processing Time

The average claim processing time at Agency Insurance Company may vary depending on the complexity of the claim and the specific circumstances. Unfortunately, specific data regarding their average claim processing times is not readily available. Policyholders are encouraged to reach out to AIC directly or consult their policy documents for more information on claim processing timelines.

Customer Feedback on Claim Resolutions and Payouts

When it comes to customer feedback on claim resolutions and payouts, Agency Insurance Company has received mixed reviews. While some customers report satisfactory experiences with the resolution of their claims and timely payouts, others have expressed dissatisfaction.

It’s essential for potential policyholders to consider these mixed reviews and conduct thorough research to understand the overall customer sentiment regarding claim resolutions at AIC. Reading customer reviews and seeking insights from existing customers can provide valuable insights into the company’s claim handling process.

Exploring Agency Insurance’s Digital Innovations

Mobile App Features and Functionality

Agency Insurance Company offers a mobile app known as “AIC Mobile,” available for download on both the App Store and Google Play. The app provides policyholders with convenient features and functionality, including:

• Access to digital ID cards: Policyholders can easily access digital copies of their insurance ID cards through the mobile app.
• Secure policy management: Users can view detailed policy information, including coverage details and agent contact information.
• Payment processing: The app allows policyholders to make insurance payments directly, enhancing convenience.
• Claims assistance: Policyholders can initiate claims or report accidents through the app, streamlining the claims process.

The mobile app enhances policyholders’ accessibility to important insurance information and services, making it a valuable tool for on-the-go insurance management.

Online Account Management Capabilities

Policyholders can access personal auto policy information via AIC’s mobile app. This includes features such as viewing digital ID cards, making payments, and accessing policy and agent information. The mobile app appears to offer essential features for policyholders to manage their accounts conveniently.

Digital Tools and Resources

Policyholders seeking digital tools, resources, or educational materials related to insurance may want to explore the company’s website or reach out to their customer support for more information on available digital resources.

AIC Insurance: The Bottom Line

Agency Insurance Company of Maryland (AIC) is a relative newcomer to the insurance market and promises low rates a promise we’re unable to verify due to the lack of online quoting. Although they’re not labeled as a non-standard company, they do give the impression of catering to a budget market and may appeal more to those who haven’t had much luck with bigger companies.

AIC has a few complaints, and although there’s nothing serious overall, it’s difficult to highly recommend the company due to a general lack of detailed information on its website. You may want to consider it if you’re already receiving multiple quotes from an agent who offers AIC’s products, just to do a price comparison, but it would be wise to compare quoted rates against other companies before committing to a policy.

Now that you’ve learned all about Agency Insurance Company and AIC car insurance, let us help you get the right coverage and best rates. Just enter your ZIP code for free quotes.