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Aegis Security Insurance Company Review

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best...

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UPDATED: Nov 30, 2018

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Aegis Security has a 40-year history in the insurance industry with a primary focus on niche markets. In particular, Aegis writes coverage for mobile homes and low-value dwellings in rural areas, in addition to a few other specialties.

About Aegis Security

Aegis was founded in 1977 in Harrisburg, Pennsylvania with the goal of providing property & casualty insurance for underserved, difficult to place homes. They have since expanded across the country, and are licensed in all 50 states and the District of Columbia.

Aegis’ primary focus is on low-value homes such as mobile and manufactured homes, vacant dwellings, and other high-risk homes, generally located in rural areas. In addition to this niche market, Aegis also writes policies for travel trailers and motorcycles, supplemental health and accident insurance, and surety bonds.

In 2013, Aegis was purchased by K2 Insurance Services, a holding company based out of San Diego, CA, but their company headquarters remains in Harrisburg. Aegis products are sold by general insurance agents across the country.

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Aegis Products

Aegis’ main products are property & casualty policies for hard-to-place risks. This generally means that they will cover homes that do not meet the standards of other insurance companies. They also write specialty policies in other areas, including for motorcycles and travel trailers. Details on products can be found by visiting the Agents section of the website, as the section for policyholders is very limited. This indicates that the company anticipates more website visits by potential agents than potential customers.

Home Insurance

All of Aegis home insurance products are designed to protect homes that have had difficulty obtaining coverage elsewhere. There are a variety of products for different home types.

Dwelling Fire

Aegis Dwelling Fire program is a home insurance policy designed for lower value, older, well-maintained homes. The maximum value of a home on this program is $300,000, and the focus is on homes ten years and older, although all ages can be covered. Occupancy under this program can be owner, seasonal, or rental.

As with most dwelling fire programs, the coverage is on a named peril basis, and the company offers a selection of perils depending on the home and the state in which it is located. Standard coverage is for the dwelling other structures, personal property, and liability. Loss of rent is available for rental homes.

Specialty Homeowners

The Specialty Homeowners program covers only owner-occupied and seasonal homes. As with the dwelling fire policy, the value limit is up to $300,000, and again the focus is on homes ten years and older, although all ages are acceptable. This plan is designed for homes that may have had a loss in the past, or may have factors that disqualify it for a standard homeowners product.

As with the dwelling fire program, there are a variety of coverage options available. The plan appears to be a named perils policy, but a larger variety of perils are included. Personal property and liability coverage are also part of the package.

Manufactured Home

Aegis writes policies for mobile, modular, and manufactured homes, including in high-risk areas. Their policies are available for owner-occupied homes, rentals, seasonal homes (including park model and permanently located travel trailers), and even for tenants. Up to eight rental units can be covered on one policy. Home value can be up to $250,000, with a higher limit of $400,000 in California.

The plan offers a variety of coverage options, and is an open peril policy, with the exception of tenant coverage, which is named peril only. Replacement cost coverage is offered on models 15 years old and newer. Personal property and liability coverage are both included in the policy.

Unoccupied Dwelling

Policies for vacant homes are offered with terms of 3, 6, or 12 months. These policies can be used for homes undergoing renovations, homes that are for sale, or homes held by a trust, as well as those vacant for other reasons. Coverage is offered for homes valued up to $300,000.

The vacant home policy is a named perils policy, and also includes coverage for premises liability.

Specialty Products

Under their specialty program, Aegis covers a variety of motorcycles and travel trailers.

Motorcycle coverage, including liability, collision, and comprehensive, is offered in three forms:

  • The Standard program, which covers touring bikes other than Harley-Davidson
  • The Harley-Davidson program
  • The Special Hazard program, which covers sport and unusual motorcycles

Aegis Trailblazer travel trailer insurance program covers a variety of trailer types with a comprehensive policy. Coverage is included for damage to the trailer itself for a variety of perils, as well as personal property coverage and vacation liability. This type of policy offers more coverage than an add-on policy with your auto insurance and is popular with full-time RVers.

Health Insurance

Aegis offers two types of specialty supplemental health insurance and accident insurance plans. Neither is aimed at individuals.

The Blanket Accident Insurance Program is aimed at the needs of sports teams. This plan provides coverage for injuries to players, coaches, managers, cheerleaders, and other team members at scheduled games and practices. Coverage is also offered for special events.

The Supplemental Gap Group Medical Program is a plan for employers to help reduce group medical coverage costs.

Surety Bonds

Aegis writes surety bonds for a range of contractors, including:

  • General contractors
  • Subcontractors
  • Heavy/highway
  • Specialty contractors
  • Small and emerging contractors

In addition to contractors, commercial surety bonds are also available for:

  • License & permit
  • Motor vehicle dealers
  • Lottery
  • Mortgage brokers
  • Supply and service contracts

Bonds are available up to $5,644,000.

Aegis Security Rates

It is not surprising to see that Aegis does not offer an online quoting option. As a specialty insurance company writing policies for hard-to-place risks, rate quotes are specialized and require a lot of specific information.

In the specialty insurance market, rates can vary greatly, so even with a quote it would be difficult to compare Aegis to other companies.

Claims

The Aegis website offers very little information for policyholders and is generally aimed at information for agents. The claims section of the website is similar, simply offering basics on submitting a claim without further information on the process.

Claims can be submitted online for all of Aegis’ products, using a simple claims form. This appears to be the company’s preferred method of accepting claims, as there is only a phone number listed for “emergency claims”, specifically for situations where a loss has rendered a home unavailable and it is after 5 pm Eastern time. This indicates that the claims line is only available after business hours, although it’s not made entirely clear.

There is a claims questions email address offered on the Contact Us section of the website, as well as a general toll-free number.

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Ratings and Consumer Reviews

Aegis Security has a Better Business Bureau (BBB) rating of A+, and there has been a total of six complaints in the past three years. Only one of those was closed in the past year. That is quite a low complaint volume for a company that covers the entire nation.

We found little in the way of customer opinion on this insurer, in spite of it being a relatively large company. This may be partially due to the fact that they serve such a difficult to insure market, where customers feel they have little choice or have received their coverage through a broker or agent and turned complaints there rather than to the Internet. These factors aside, the low level of complaints is in the company’s favor.

The Bottom Line

Because they serve a specific niche market, Aegis may be one of few choices for customers whose homes fit the company’s specifications, therefore worth considering. They provide a broad spectrum of coverage options for homes that might otherwise be turned down, and appear to have a good reputation. Aegis is likely a company that obtains client referrals mainly through agent and broker sources, offering little in the way of appeal to potential clients through their very agent-focused website.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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Review Information

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Aegis Security Insurance Company

About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

1 Comment

  1. They have excellent insurance coverage until you make a claim.

    Then it takes several weeks, or months to get a return call or in my case a denial of claims letter.

    The only thing this company is good for is taking your money and hiding behind fine print. Had major water damage due to tree limbs falling and puncturing roof.

    Apparently, that is considered normal wear and tear. Stay clear of this company !!!!!

    Reply

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