List Of Homeowners Insurance Companies - Florida Statute § 624.313 requires the Florida Office of Insurance Regulation "OIR" to publish statistics and ratios on complaints filed by consumers against insurance companies. Its main responsibility is to regulate, enforce and enforce laws relating to the insurance business and oversee industry markets. Florida statute requires OIR to publish several categories of information about insurance companies doing business in Florida. When the 2010 report was released in February 2011, the report compiled data on consumer complaints against insurance companies from complaints filed in 2009.
Florida Statute § 624.313 requires each insurer or group of insurers with a market share of one percent or more to publish OIR complaint ratios for the 10 largest insurers or groups of insurers by line of insurance.
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Although this information is readily available in the report, as a consumer, finding this information can be difficult and requires a very detailed review of each company. It is difficult to digest and compare.
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Recently, I was provided with a summary of the complaint information from the 2010 report, which is easy to read.
Of the insurers that write a significant amount of homeowners business in Florida, which have more than their share of complaints and which have the fewest? The attached table ranks the 50 insurers (out of 218 total) that wrote the most homeowners insurance in Florida in 2009. The 50 companies together write nearly 90% of Florida's homeowner premiums. They are ranked according to their 2009 "complaint index". A complaint index greater than 1.00 means that a company's share of complaints is greater than its market share, which is negative. A complaint index of less than 1.00 means that the company has a share of complaints less than its market share, which is positive. Three companies that have gone bankrupt or liquidated since 2009 have been removed from the list.
For the purposes of this Complaint Index Report: "Complaint Share" is expressed as a percentage of the number of complaints received by the office regarding the insurance industry. "Complaint" means any written communication from an insured or named beneficiary expressing dissatisfaction with an insurer whose office has regulatory authority. It does not include complaints against the wrongful organization; Complaints against organizations providing administrative services for self-funded benefit plans; rate complaints properly filed or approved; Complaints about suspected fraudulent claims; and spurious or frivolous complaints. The office extracts these numbers from the NAIC database; The NAIC receives data from the Department of Financial Services and standardizes the definition of complaints across the 50 states. "Market share" is a company's direct written premium compared to the industry for a particular line of insurance. The report expresses this ratio as a percentage. "Premiums" means the consideration paid to an insurer for the issue and delivery of any bond or insurance or annuity policy written directly to the consumer. The "complaint index" is a ratio obtained by dividing a company's share of complaints by its market share. A complaint index greater than 1.00 indicates that a company's share of complaints is disproportionately higher than its market share for a particular insurance line. A complaint index below 1.00 indicates that a company's share of complaints is disproportionately lower than its market share for a particular line of insurance.
Founded in 1985, Merlin Law Group is a leading insurance litigation law firm dedicated to helping policyholders obtain fair and just outcomes from their insurance companies. Property insurance law is a very complex and specialized area of law and our firm represents policyholders when claims are denied, delayed or underpaid. .
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Your home is one of your most valuable assets, so you need to protect it with homeowners insurance. Choosing between several insurance providers can seem overwhelming, but if you focus on the best home insurance companies, you can make it a lot easier on yourself. Here are our favorite home insurance providers for some common situations.
4.00/5 Circle the letter I in it. Our ratings are based on a 5-star scale. 5 stars are the best. 4 stars are excellent. 3 stars equals good. 2 stars equals fair. 1 star equals poor. We want your money to work harder for you. That's why our ratings lean towards offers that offer flexibility and lower out-of-pocket costs. = best = excellent = good = fair = poor
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Liberty Mutual has been in business for over 110 years and is one of the most respected names in the industry. As one of the largest homeowners insurers in the US, Company A is known for its AM Best rating and its strong philanthropic efforts, including helping the homeless, the disabled and supporting education in underserved communities.
Aerie Insurance customers who cover home insurance and auto insurance can save up to 25% on their premiums. It's a tempting reason to consider, but it's not the only one. Customers can also expect strong customer satisfaction ratings and guaranteed replacement cost coverage at no additional cost. They also offer pet coverage, gift card and gift certificate reimbursement, and hard-to-replace items. This cover is included in all policies at no extra cost. Erie's basic policy offers more flexibility and coverage options than most competitors.
5.00/5 Circle the letter I in it. Our ratings are based on a 5-star scale. 5 stars are the best. 4 stars are excellent. 3 stars equals good. 2 stars equals fair. 1 star equals poor. We want your money to work harder for you. That's why our ratings lean towards offers that offer flexibility and lower out-of-pocket costs. = best = excellent = good = fair = poor
Allstate offers the most generous discounts in the industry, including up to 25% off when you plan on home and auto policies, up to 20% off when you switch to Allstate without a recent home insurance claim, a loyalty discount of 10%, and a 5% automatic payment. Allstate also has an extensive network of agents.
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Amica isn't as well-known as some of the other home insurance companies on this list, but if you ask its customers about their experience, you'll get plenty of positive reviews. J.D. Amica Mutual is a leader in the Homeowners Insurance segment. Power for the second year in a row. While its coverage options may not be as extensive as some of its competitors, it does the basics well and you won't find the equivalent of its dividend policies anywhere else. Additionally, Amica has partnered with Rocket Mortgage, and Amica policyholders can receive special loan rates and save $2,000 on closing costs.
4.50/5 Circle the letter I in it. Our ratings are based on a 5-star scale. 5 stars are the best. 4 stars are excellent. 3 stars equals good. 2 stars equals fair. 1 star equals poor. We want your money to work harder for you. That's why our ratings lean towards offers that offer flexibility and lower out-of-pocket costs. = best = excellent = good = fair = poor
State Farm says on its website that you can save up to $1,127 on auto and home insurance. If you have an auto insurance policy, you can add a homeowners, renters, condo or life insurance policy and save up to 17% on home insurance premiums, State Farm says. State Farm offers customizable homeowners policies, including optional coverage for pets, identity theft and water backup.
Lemonade is the best destination for customers looking for affordable home insurance, with premiums starting at $25 per month. The company makes shopping for insurance easy by providing an all-line application process and instant responses. Policies can be managed primarily through the Lemonade app or online.
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3.50/5 Circle the letter I in it. Our ratings are based on a 5-star scale. 5 stars are the best. 4 stars are excellent. 3 stars equals good. 2 stars equals fair. 1 star equals poor. We want your money to work harder for you. That's why our ratings lean towards offers that offer flexibility and lower out-of-pocket costs. = best = excellent = good = fair = poor
Travelers has several great coverage options that appeal to a broad base of homeowners, making it extremely popular among green home and green home enthusiasts.
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