FedNat Insurance Company Review

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Written by
Darren Craft

FedNat Insurance Company, specializing primarily in home insurance, has experienced significant operational changes recently. Originally serving multiple states, FedNat has retracted to focus on Florida due to severe financial losses from recent storm damages. This restructuring includes consolidating policies under its subsidiary, Monarch National Insurance Company.

Financial Rating
NAIC Group
Fednat Holding Co Group
14050 Northwest 14th Street, Suite 180. Sunrise, Fl 33323
Service Phone Number
Claims Phone Number
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.
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FedNat Insurance Company Overview

Despite its challenges, FedNat has historically provided a range of insurance products at competitive rates. The company’s focus remains on delivering essential home and life and insurance coverage including standard homeowners, flood, and umbrella policies. Current circumstances have forced a reduction in new written policy offerings as it navigates through financial recovery.

  • Location of Operation: Primarily Florida
  • Subsidiaries: Includes Monarch National and Maison Insurance Company
  • Recent Changes: No longer issuing new policies; focusing on existing customers
  • Product Offerings: Homeowners, flood, and umbrella insurance
  • Financial Challenges: Major losses from storms in 2020 and 2021 leading to policy cancellations

FedNat continues to operate with a strong commitment to its remaining policyholders in Florida. The company’s future steps include enhancing its Better Business Bureau rating, financial stability and potentially expanding its insurance offerings once again to meet the needs of its customers.

FedNat Insurance Products and Packages

FedNat Insurance Company offers a variety of insurance products tailored to meet the needs of homeowners in Florida. Despite current restrictions on new policy issuance, FedNat maintains a suite of essential coverages designed to protect homes against common and specific risks, including floods and excessive liability insurance claims..

The Federated National insurance packages provided are structured to offer comprehensive protection. FedNat focuses on the essentials of home insurance, supplemented by special coverages that address unique risks associated with property ownership in Florida, such as flood and liability exposures.

  • Homeowners Insurance: Protection for home structure, personal belongings, and liability.
  • Flood Insurance: Federally backed insurance covering flood damages.
  • Umbrella Insurance: Additional liability coverage for large claims.

Homeowners Insurance

This package covers damage to your home and belongings due to perils like fire, storm, or theft, and includes liability protection. It's designed for the standard homeowner needs in Florida’s unique environment.

Flood Insurance

FedNat offers a form of federally backed flood insurance, which is crucial for Florida residents given the state's susceptibility to flooding. This coverage helps protect your property from water damage due to floods.

Umbrella Insurance

For those needing extra security or liability protection beyond the typical limits of homeowners insurance, umbrella insurance from FedNat provides additional security. This is ideal for both security or protecting the house and assets against larger claims or lawsuits.

FedNat Insurance Premiums

FedNat Insurance Company, historically a key player in the Florida home insurance market, has faced substantial financial challenges in recent years. These challenges have significantly impacted their premium rates and overall financial health. Following a series of catastrophic events and escalating claims costs, FedNat experienced severe financial strain, which led to rate hikes and a strategic contraction of operations to focus solely on Florida​​​​.

Premium adjustments over the past few years have been marked by significant volatility. Initially, FedNat attempted to stabilize its operations by increasing premium rates substantially. However, despite these efforts, the company's financial situation worsened, culminating in a bankruptcy filing in late 2022. The liquidation and restructuring phases have profoundly affected policy pricing, availability, and the scale of operations​​​​.

  • Substantial Premium Increases: Over a four-year period, FedNat implemented a cumulative rate increase of approximately 70% to manage losses from severe weather events and related claims​​.
  • Strategic Downsizing: Due to ongoing financial difficulties, FedNat has significantly reduced its policy offerings, concentrating efforts and resources on the Florida market in an attempt to regain stability.
  • Bankruptcy and Restructuring: The company's financial decline forced it into Chapter 11 bankruptcy, indicating a deepening crisis within the Florida home insurance market and affecting premium structures further​​.

FedNat's current focus remains on navigating through bankruptcy while attempting to collect and honor claims and commitments through the rest of its restructuring process. The situation underscores the volatile nature of the insurance market in Florida, particularly in the face of increasing natural disaster risks and the associated financial implications for insurers.

FedNat Insurance Discounts and Offers

FedNat Insurance Company, before its liquidation, offered a few select discounts designed to make their insurance policies more affordable for their customers. These included incentives for being claim-free, going paperless, and holding multiple policies with the good insurance company. These efforts were aimed at both simplifying the insurance process and providing some financial relief to policyholders.

  • Claim-Free Discount: Rewarded policyholders who had not filed a claim within a specified period, promoting a low-risk portfolio.
  • Paperless Discount: Encouraged customers to opt for electronic document handling, aligning with environmental sustainability goals.
  • Companion Policy Discount: Offered a price reduction to customers who purchased multiple types of insurance coverage, encouraging broader business with the insurer.

FedNat Insurance Company Customer Service

FedNat Insurance Company's customer service is structured to accommodate and respond to a variety of customer needs through access to both online and phone-based support systems. They are known for providing assistance with claims filing, payments, quotes, and general inquiries, operating Monday through Friday from 8 AM to 6 PM EST​​.

  • Customer Service Phone Number: 800-293-2532
  • Claims Phone Number: 800-293-2532
  • Corporate Office Address: 14050 Northwest 14th Street, Suite 180, Sunrise, FL 33323

Eligibility & Underwriting Requirements

To apply for insurance with FedNat, prospective policyholders must meet specific eligibility criteria and provide necessary written documentation. This process ensures that both the insurer and the insured understand the coverage scope and any particular conditions or exclusions that may apply.

Documents Required

For a smooth and efficient application review process, FedNat requires several documents from applicants. These documents help in the review, assessing the risk and determining the appropriate insurance premiums for the property and the individual.

  • Proof of Identity: Valid government-issued identification such as a driver’s license or passport.
  • Proof of Property Ownership: Documents like a deed or recent mortgage statement.
  • Property Details: Information on the construction, condition, and safety features of the property.
  • Insurance History: Details of previous home insurance policies and any claims made.

FedNat Insurance Application Process

The application process for FedNat Insurance is designed to be straightforward and user-friendly, enabling potential policyholders to efficiently secure coverage. Initially, applicants are required to provide detailed information about their property and any relevant personal details that would influence their policy terms and premiums. This stage often includescompleting an assessment of the property’s risk factors and completing a valuation.

Following the form and initial submission, FedNat's underwriting team reviews the application to determine eligibility and appropriate coverage options. If further information or documentation is needed, applicants may be contacted toverify or provide additional details. Once all information is verified and the policy is approved, applicants receive their insurance contract, outlining the terms, coverage limits, deductible, and premiums.

Looking to navigate the insurance application process with ease? Worth Insurance is here to guide you every step of the way. Our experts are ready to assist you in understanding all requirements and help tailor a policy that fits the mold ofyour own life and needs perfectly. Get started by scheduling a consultation through our Get a Quote page today!

How to Make a Payment to FedNat Insurance

Making a payment to FedNat Insurance is straightforward and can be done without the need to log into your account. Here’s how you can complete the payment process:

  1. Select Your Payment Method: You can choose to pay online via credit card or by using an E-check at no extra charge.
  2. Select Your Carrier: Choose 'FedNat' from the dropdown menu of carriers.
  3. Select Your State: Choose the state in which your insured property is located from the dropdown menu.
  4. Enter Payment Details: Provide the necessary details such as your policy number and the amount you wish to pay.
  5. Submit Your Payment: After entering your details, submit your payment for processing.

This process for payments is designed to be quick and secure, ensuring that your payment is processed efficiently. For any assistance during completing the payment process, you can contact FedNat’s customer service team at 800-293-2532 during their business hours, Monday through Friday from 8:00 AM to 6:00 PM EST​​​​.

How to File a Claim with FedNat Insurance

Filing a claim with FedNat Insurance is designed to be a straightforward process that can be initiated anytime, as their services are available 24/7. This accessibility ensures that you can start the insurance claims' review process soon after an incident or event occurs, which is crucial for timely and efficient handling.

  1. Contact FedNat Immediately: You can report a claim at any time by calling (800) 293-2532. Press 2 after the prompt to connect with the claims team. This should be your first step after experiencing a loss to ensure that your claim is logged and the process begins promptly.
  2. Online Claim Reporting: If you prefer, you can also file your FedNat Insurance company homeowners insurance claim online. Visit the FedNat claims webpage and click the relevant option to start your claim online. This method is beneficial if you want to complete the initial reporting process quickly without waiting on the phone.
  3. Provide Necessary Information: During the claim initiation, be ready to provide details such as your homeowners insurance policy number, the date of the incident, a brief description of what happened, and any emergency measures you have taken (like water extraction services if applicable).
  4. Documentation: It's helpful to have any relevant documents or evidence ready, such as photos or videos of the damage, receipts for any immediate repairs, or expenses incurred due to the loss. These can be crucial for the assessment and processing of your claim.
  5. Follow Up: After reporting the claim, keep track of your claim status online or by phone. FedNat provides options to check the status of your claim through their website or by contacting their customer service.

FedNat Insurance (Florida Property Insurance Company) Pros and Cons

When evaluating FedNat Insurance, it's essential to weigh both the advantages and the challenges the company offers to its policyholders. Below is a concise overview of the company with key pros and cons to consider:


  • Competitively priced policies
  • Comprehensive basic coverages
  • Online claim filing available
  • 24/7 claim support
  • Efficient claims process


  • Limited discount options
  • Restricted policy availability
  • Recent financial instability
  • No new policy issuance
  • High complaint rates

Who It's For: FedNat Insurance Company is best suited for homeowners in Florida seeking basic coverage options and efficient claims processing. It's particularly beneficial for those who need quick, 24/7 claims support and are comfortabledealing with handling their insurance needs primarily online.

Wrapping Up

While FedNat Insurance offers reliable basic coverage and an efficient claims process suitable for Florida homeowners, potential clients should consider the insurance company and its current limitations such as the lack of new policy issuance and recent financial instability. If FedNat’s offerings align with your needs, it's crucial to your insurance carrier stay informed about their companies evolving financial health and service options.

Ready to explore your own auto insurance options or need more tailored advice? Connect with Worth Insurance for personalized support that guides you through choosing the right insurance for your home. Contact Worth Insurance today to secure peace and security of mind with a policy that best fits your house and your needs.

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Written by
Darren Craft
Writer, Insurance
Read more from author
Darren Craft is a licensed insurance advisor. He has been an angel investor in a number of prominent fintech and insurtech startups.

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.