Florida Peninsula Insurance Company Review

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Written by
Darren Craft

Florida Peninsula Insurance specializes in the unique Florida homeowners insurance market, offering various coverage options and 24/7 online claims reporting. However, customer complaints about increasing rates and communication issues, combined with limited customer service hours, raise concerns. This comprehensive review delves into their financial stability, products, and customer experience, helping you decide if Florida Peninsula Insurance is the right choice for your needs.

Florida Peninsula Insurance Company Pros and Cons

Pros
Offers homeowners, condo, renters, and flood insurance in Florida
Leading Florida home insurance carrier
Financial stability rating of A from Demotech
24/7 online claims reporting
Variety of discounts available
Cons
Customer complaints about increasing rates
Customer complaints about unreliable quotes
Customer complaints about difficulties extending coverage
Customer service only available by phone Monday through Friday, 8:00 AM to 5:00 PM EST

Financial Rating
A (Exceptional)
NAIC
10132
NAIC Group
Florida Peninsula Holdings Group
Address
903 NW 65th Street, Suite 200, Boca Raton, FL 33487
Service Phone Number
Claims Phone Number
Jurisdictions
FL
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Choosing a Homeowners Insurance Carrier

Florida Peninsula Insurance Overview

Florida Peninsula Insurance was founded in 2005. The insurance company focuses on helping homeowners get the Florida property insurance that they need, mainly in Florida, where the home market has been incredibly unpredictable.

What Type of Insurance Does Florida Peninsula Insurance Offer?

Florida Peninsula Home Insurance offers homeowners insurance as well as condo insurance. The carrier also offers renters and flood insurance to those living in Florida.  The company is a leading Florida home insurance carrier.

One of the most convenient parts of obtaining homeowners insurance from Florida Peninsula Insurance is that it offers 24/7 online claims reporting, which may be useful for those unfortunate incidents you need to report late at night or early in the mornings.

What to Know about Florida Peninsula Insurance

With a financial stability rating of A from Demotech, the Florida Peninsula Insurance is considered one of Florida’s top 25 largest homeowners insurance companies as it holds 3.35% of the Florida homeowners insurance market share. 

But market share and company size aren’t enough to suggest an insurance carrier is the best for you and your family.

Financial Summary

Reporting Period
Net Admitted Assets
Policyholders Surplus
Gross Premiums Written
Net Premiums Written
3/31/2024
$528,259,433
$202,465,041
$159,700,949
$107,666,784
12/31/2023
$476,149,533
$189,639,167
$465,135,329
$157,099,759
12/31/2022
$340,875,967
$88,389,772
$335,367,019
$123,191,814

What Discounts Does Florida Peninsula Insurance Offer?

Florida Peninsula Insurance does offer a variety of discounts available to their policyholders. If you are installing features to your home to protect against hurricane damage and other extreme weather conditions in Florida, you may be eligible for insurance discounts.

Florida Peninsula Insurance Company Review

Florida Peninsula Insurance Customer Service

Florida Peninsula Insurance offers hotlines for customer service and filing claims. With a fairly active social media presence (Twitter, Facebook, Youtube, LinkedIn, and even Pinterest), there are several ways to contact their customer support.

 Florida Peninsula Insurance

Wrapping Up: Is Florida Peninsula Right for You?

Florida Peninsula Insurance fills a critical need in the Sunshine State's volatile insurance market, specializing in coverage for the unique challenges homeowners face. Their financial stability and variety of insurance products are appealing, especially their 24/7 claims reporting. However, potential customers should weigh the positive aspects against the noted drawbacks like customer complaints about rate increases and communication issues.

Ultimately, the decision to choose Florida Peninsula depends on your priorities and preferences. If you're looking for a Florida-focused insurer with robust financial backing and quick claims processing, they could be a good fit. However, be sure to research and compare other options to ensure you're getting the best coverage and value for your specific needs. Remember, a well-informed decision is the first step towards protecting your most valuable asset.

Get In Touch

1
Fill Out the Contact Form
Start by filling out our online contact form.

Provide your details and specific insurance needs, and a representative from Worth Insurance will reach out to you promptly to discuss how we can help you find the right coverage.
2
Schedule a Consultation
After submitting the form, schedule a consultation at a time that suits you.

This one-on-one session will allow us to understand your requirements better and offer personalized advice on choosing the best insurance policies for your Florida home.
3
Receive Your Tailored Insurance Plan
Following the consultation, we'll craft a tailored insurance solution that fits your needs and budget.

We aim to provide you with a seamless and informative journey towards securing the right coverage for your home in Florida.
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 coverage options does Florida Peninsula Insurance offer?

Florida Peninsula specializes in property insurance for Florida residents, offering homeowners, condo, renters, and flood insurance policies.

How do I file an insurance claim with Florida Peninsula Insurance?

Florida Peninsula offers 24/7 online claims reporting through their website, making it convenient to file a claim at any time. You can also reach them via phone during their customer service hours.

What can I expect during the claims process with Florida Peninsula Insurance?

While Florida Peninsula aims to provide a smooth claims process, some customers have reported challenges with communication and claim resolution. It's important to document everything thoroughly and follow up if you experience any delays.

Are there any discounts available on Florida Peninsula Insurance policies?

Yes, Florida Peninsula offers various discounts for policyholders, including those for wind mitigation features and other protective measures. It's best to contact them directly to inquire about the specific discounts available.

Does Florida Peninsula Insurance have good homeowners insurance?

As one of the largest Florida homeowners insurance companies, Florida Peninsula has been in the industry for more than 15 years. The company offers some affordable coverages on homeowners, condo, renters, and flood insurance, but from the abundance of customer complaints, they may not necessarily be the best choice for you.

What coverage options does Florida Peninsula Insurance offer?

Florida Peninsula specializes in property insurance for Florida residents, offering homeowners, condo, renters, and flood insurance policies.

How do I file an insurance claim with Florida Peninsula Insurance?

Florida Peninsula offers 24/7 online claims reporting through their website, making it convenient to file a claim at any time. You can also reach them via phone during their customer service hours.

What can I expect during the claims process with Florida Peninsula Insurance?

While Florida Peninsula aims to provide a smooth claims process, some customers have reported challenges with communication and claim resolution. It's important to document everything thoroughly and follow up if you experience any delays.

How does Florida Peninsula determine my insurance rates?

Florida Peninsula's rates are determined by various factors, including the location of your property, the type of coverage you choose, and the value of your home. They also offer discounts for various factors, such as wind mitigation features.

What discounts are available on Florida Peninsula Insurance policies?

Florida Peninsula offers various discounts for policyholders, including those for wind mitigation features and other protective measures. It's best to contact them directly to inquire about the specific discounts available.