FedNat Insurance Company Review

American Integrity Insurance Financial Rating
NAIC
10790
NAIC Group
Fednat Holding Co Group
Address
14050 Northwest 14th Street, Suite 180. Sunrise, Fl 33323
Service Phone Number
Claims Phone Number
Jurisdictions
AL, FL, GA, LA, MS, SC, TX. Due to the company’s restructuring actions, FedNat is exiting Louisiana, Texas, Mississippi, Alabama, and South Carolina and cancelling more than 68k homeowners policies in Florida.
Financial Summary Table

FedNat Insurance Company at a Glance

FedNat Insurance, short for Federated National, is an insurance company that offers home insurance at fairly affordable rates, making them a solid insurance company in its locations of operation. FedNat also manages Monarch National, a Florida Property insurance company, and owns Maison Insurance Company. 

As of May 2022: FedNat is not currently issuing new home insurance policies and is consolidating its policies under its subsidiary, Monarch National Insurance Company.

According to E&E News, FedNat very recently cancelled 68,200 homeowners policies in the state of Florida due to losing millions of dollars due to the major storms from 2020 and 2021. Florida has been hit by a shockingly high number of nonrenewals and company liquidations this year, and an insurance crisis is projected by experts. FedNat has incredibly poor recent reviews on Better Business Bureau (BBB) despite an overall average rating of 3.53 stars. 

What Type of Insurance Does FedNat Insurance Company Offer?

FedNat Insurance offers homeowners insurance, high value homes insurance, condo insurance, renters insurance, flood insurance, personal umbrella insurance, landlord insurance, as well as extra protection. Due to current financial circumstances, their usual policies may be unavailable. 

Additional add-on coverage options are fairly limited. They include: 

  • Federally backed flood insurance - this pays for flood damage to your home and is a standard coverage backed by the federal government 
  • Umbrella liability coverage - if you are sued for medical damages or other damages sustained by someone injured while on your property, umbrella liability coverage can offer you financial protection 
  • Flo by Moen - you may receive a discount if you have a smart home monitoring system and a leak detection system
  • Service Line - this coverage add-on extends protection to underground pipes, wiring, as well as service lines 
  • Social media coverage - this can help track your social media accounts and notify you if any one of them seems to have been compromised 
  • Identity theft protection - this protection includes financial reimbursement in case you need any identity theft and recovery services 
  • Equipment breakdown - if you encounter any unexpected repairs because of electrical, mechanical, or pressure system damages, this may protect you 

What to Know about FedNat Insurance Company

FedNat Insurance Company is currently struggling to due high levels of storm damages sustained by policyholders in the recent years. Before this, FedNat was known as a fairly good insurance company that provided affordable homeowners insurance in Florida. FedNat does not offer many discounts or add-on coverage options, and does not allow you to customize your coverage or offer other such perks. 

What Discounts Does FedNat Insurance Company Offer?

FedNat does not offer much in terms of discounts or extra benefits. 

FedNat Insurance Company Customer Service

Customer service can be found online. FedNat can also be contacted by phone at 800-293-2532. Customer service is available from Monday through Friday 8 AM to 6 PM EST. The FedNat customer service is able to help with filing claims, making payments, requesting quotes, and other customer needs. 

Frequently Asked Questions

What is FedNat Insurance Company's average claim response time frame?

There are numerous complaints that the response time from FedNat Insurance has been unsatisfactory. Customers have expressed anger towards the mass policy cancellations and lack of adequate financial coverage. If you need help choosing an insurance carrier, Worth Insurance can help you find a better option.

What is FedNat Insurance Company's claims process?

Claims can be made 24 hours a day, 365 days a year, and can either be started online or by calling 800-293-2532. After filing the claim, the status can be checked online.

Does FedNat Insurance Company have good homeowners insurance?

FedNat Insurance Company currently does not offer new homeowners insurance policies in Florida.

What is FedNat Insurance Company's customer service availability?

The FedNat customer service is available Monday through Friday, from their business hours of 8 AM to 6 PM EST.

Does FedNat Insurance Company create a user-friendly experience for customers?

Due to the high number of complaints, it appears that FedNat Insurance Company has not created a user-friendly experience for customers in the past year.

Is FedNat Insurance Company a good insurance company?

In the past few years, many insurance companies have faced severe financial issues because of a flurry of storms and hurricanes. Like other companies, FedNat has decided to cancel thousands of policies, making its previous policyholders unable to find financial protection.