Homeowners Choice Property and Casualty Insurance

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Curious about Homeowners Choice Property and Casualty Insurance? Find out about their services, financial stability, customer service, and coverage options.
Homeowners Choice Property & Casualty Insurance Company Inc started its operations in 2007. It is located in Tampa, Florida. Although relatively new, it serves around 110,000 policyholders and has approximately $350 million in gross written premiums. The company has received an ‘A Exceptional’ rating from Demotech, Inc., which is a significant endorsement of its financial stability.
Homeowners Choice positions itself as a reliable property and casualty insurer, specializing in homeowners insurance. The company’s unique selling points include its focus on customizable insurance solutions and partnerships with other prominent insurers like Safeco and Liberty Mutual.
The target audience primarily comprises Florida homeowners, given the company’s deep understanding of the unique risks and insurance needs in this region. We’ll now examine these claims to determine their validity.
Company Overview
Company Overview
Founded in 2007 and headquartered in Tampa, Florida, Homeowners Choice specializes in homeowners’ insurance. The company manages around $350 million in gross written premiums, serving approximately 110,000 policyholders. Through partnerships with insurers like Safeco and Liberty Mutual, Homeowners Choice offers comprehensive insurance solutions.
- Homeowners Choice Property & Casualty Insurance, established in 2007, specializes in homeowners insurance and has approximately 110,000 policyholders with a strong financial rating of ‘A’ from Demotech, Inc.
- The company offers customizable insurance solutions tailored to the unique risks of Florida homeowners, but it faces criticisms regarding customer service and claims processing, receiving a ‘B+’ rating from the Better Business Bureau without accreditation.
- While Homeowners Choice presents competitive rates and partnerships for potential discounts, customers should weigh these benefits against its lower customer satisfaction ratings and the absence of an AM Best rating.
Despite its strengths, there are areas of concern. While Homeowners Choice holds an ‘A’ rating from Demotech for financial stability, it is not rated by AM Best, which could be a red flag for some potential customers. Additionally, the company has a ‘B+’ rating from the Better Business Bureau but is not accredited, further raising questions about its customer service practices.
Numerous customer reviews highlight issues with claims processing and customer service, which we will explore in more detail later.
Pros and Cons
Homeowners Choice Property and Casualty Insurance Pros and Cons
Financial Stability
Financial Stability
Financial stability is key when choosing an insurance provider, and Homeowners Choice scores well here. The company has received an ‘A’ Exceptional rating from Demotech, Inc., which indicates a high level of financial stability and reliability. This rating should assure policyholders of the company’s ability to meet its financial obligations, particularly during multiple claims after natural disasters.
However, it’s worth noting that Homeowners Choice is not rated by AM Best, a well-known financial analysis firm in the insurance industry. This omission could be a concern for some customers who rely on AM Best ratings for their insurance decisions.
Nevertheless, the ‘A’ rating from Demotech indicates the company is financially sound and capable of meeting its policyholders’ needs, reflecting a strong financial stability rating.
Products and Packages
Products and Packages
Homeowners Choice emphasizes customizable insurance solutions for Florida residents, enabling policyholders to tailor their coverage to specific needs and preferences. This flexibility is a significant selling point, as it enables homeowners to add specific coverages tailored to their unique risks.
Homeowners Insurance
Homeowners insurance is the cornerstone of Homeowners Choice's offerings, providing comprehensive protection for your home and personal possessions. This policy covers damages to the structure of your home and additional structures like garages or sheds. It also includes personal liability coverage, protecting you from claims resulting from accidents or injuries that occur on your property.
Endorsements and Additional Coverages
Homeowners Choice allows policyholders to enhance their basic coverage with endorsements. These additional coverages can include earthquake protection, identity theft coverage, and business-related risks for home-based operations. This level of customization ensures that homeowners can secure coverage that meets their specific needs.
Coverage for Valuable Items
For those with high-value items, Homeowners Choice offers policies that can be adjusted to include coverage for valuables like jewelry and fine art. This ensures that your most prized possessions are protected against loss or damage, providing peace of mind for homeowners with significant personal assets.
Loss-of-Use Benefits
In the event that your home becomes uninhabitable due to a covered event, Homeowners Choice offers loss-of-use benefits. This coverage assists with additional living expenses incurred while your home is being repaired or rebuilt, ensuring that you and your family can maintain your standard of living during challenging times.
Multi-Property Management
Moreover, awarded Homeowners Choice offers the flexibility to manage insurance across multiple properties in different states with a single point of contact. This feature is particularly convenient for those who own multiple homes, simplifying the management of their insurance needs.
These customization options make Homeowners Choice a versatile option for homeowners seeking tailored insurance policies. However, it remains to be seen how these customizable options compare in terms of cost and coverage with other insurance providers.
Pricing & Premiums
Pricing and Premiums
Homeowners Choice offers customizable rates and coverage options for Florida residents. The company provides various insurance products, including homeowners, condominium, dwelling, and renters insurance, each designed with specific coverages. This variety allows policyholders to select the coverage that best fits their needs while maintaining competitive pricing.
The average cost of homeowners insurance in Florida is approximately $1,960 per year, but with Homeowners Choice, policyholders may find premiums that range from $1,500 to $2,500 annually, depending on the specific coverage options and endorsements selected. The cost of premiums can vary significantly based on the type of coverage required and the location of the insured property. For example, properties in high-risk flood zones or areas prone to hurricanes may see higher premiums due to increased climate risks.
While aiming for competitive pricing and high-quality service, potential customers should evaluate the costs and benefits of
Discounts and Credits
Discounts and Credits
Homeowners Choice offers a variety of discounts and credits to help policyholders save on their insurance premiums. While the company provides indirect discounts through partnerships with insurers like Safeco and Liberty Mutual, it also offers specific savings opportunities directly to its customers. Here is a list of potential discounts and credits available:
- Multi-Policy Discount: Customers who bundle their homeowners insurance with other types of insurance, such as auto or life insurance, can receive a discount on their premiums.
- Claims-Free Discount: Policyholders who have not filed a claim for a certain period may qualify for a discount, rewarding them for maintaining a claims-free record.
- Protective Device Discount: Installing safety features like smoke detectors, burglar alarms, and sprinkler systems can qualify homeowners for additional savings.
- New Home Discount: Owners of newly constructed homes may be eligible for discounts due to the reduced risk associated with new building materials and modern safety standards.
- Loyalty Discount: Long-term customers who have been with Homeowners Choice for several years may receive a loyalty discount as a thank-you for their continued business.
- Paperless Billing Discount: Opting for electronic statements and billing can lead to savings, as it reduces administrative costs for the
Eligibility & Underwriting Requirements
Eligibility and Underwriting Requirements
Homeowners Choice’s eligibility and underwriting process is designed to ensure that each policy is tailored to meet the specific needs and risks of Florida homeowners. To qualify for coverage, applicants must meet several key requirements.
Eligibility Requirements
- Location: The property must be located within Florida, given the company's focus on understanding and addressing the unique risks associated with this region.
- Property Type: Eligible properties include single-family homes, condominiums, and rental properties. Each property type may have specific coverage options and requirements.
- Condition of Property: The property must meet certain condition standards, which may include having a well-maintained roof, functional safety systems like smoke detectors, and compliance with local building codes.
- Claims History: Applicants with a history of multiple claims may face higher premiums or may be deemed ineligible, depending on the nature and frequency of past claims.
- Occupancy: The property must be owner-occupied or rented out with proper lease agreements in place. Vacant properties may require additional coverage.
Underwriting Requirements
- Documentation: Applicants must provide proof of identity, property details, and any existing insurance policies. This includes recent appraisals, home inspections, and maintenance records.
- Risk Assessment: A preliminary evaluation or inspection is often required to assess risks and determine premium rates. This includes evaluating the property's location, age, construction type, and any potential hazards like flood zones.
- Credit Score: A credit score check may be part of the underwriting process to assess the financial reliability of the applicant. A higher credit score can result in more favorable premium rates.
- Safety Measures: Installation of safety features, such as burglar alarms, fire extinguishers, and storm shutters, can influence underwriting decisions and result in potential discounts.
- Insurance History: A review of the applicant's insurance history, including any lapses in coverage, helps determine eligibility and premium rates.
By ensuring a thorough yet accessible underwriting process, Homeowners Choice aims to provide comprehensive and tailored insurance solutions suitable for the diverse needs of Florida homeowners.
Application Process
Application Process
To obtain insurance from Homeowners Choice, follow these step-by-step instructions to ensure a smooth application experience:
- Gather Necessary Information: Begin by collecting essential documents such as proof of identity, property details, and any existing insurance policies. Having these ready will streamline the process.
- Visit the Online Platform or Contact Customer Service: Access the Homeowners Choice website or reach out to their customer service team. This initial contact will guide you through the application process, whether online or over the phone.
- Submit Personal and Property Information: Provide your personal details and specific information about the property you wish to insure. This includes the property's location, type, and any safety features installed.
- Schedule a Preliminary Evaluation or Inspection: Depending on your property and coverage type, a preliminary evaluation or inspection may be required. This step assesses risks and helps determine premium rates, ensuring the policy is tailored to your needs.
- Review and Customize Coverage Options: Work with Homeowners Choice to review available coverage options. Customize your policy by adding endorsements or additional coverages that suit your specific requirements.
- Receive a Quote: After tailoring your coverage, receive a detailed quote outlining the premium rates and coverage terms. Review this carefully to ensure it meets your expectations.
- Finalize the Application: Once satisfied with the quote, finalize your application by signing any necessary documents and confirming your coverage selection.
- Set Up Payment: Choose your preferred payment method and schedule, whether it's monthly, quarterly, or annually, to activate your policy.
- Confirmation and Policy Issuance: Upon successful completion of the above steps, receive confirmation of your insurance coverage and a copy of your policy documents for your records.
Customer Reviews & Service
Customer Reviews and Service
Customer reviews and service quality are critical aspects of any insurance provider, and Homeowners Choice has received mixed feedback in this area. The company offers limited direct customer support, primarily through phone and email, with unspecified hours for their phone support. Many customer reviews indicate dissatisfaction with the company’s responsiveness to claims, highlighting reports of no replies and delays in the claims process.
The overall customer satisfaction ratings for Homeowners Choice are relatively low, with complaints pointing towards inadequate service and unresolved claims. Additionally, the company has been accused of unethical practices, including attempting to influence customer reviews with monetary offers. These issues highlight significant areas for improvement in customer service and claims management.
How to Make a Payment
How to Make a Payment
Making a payment with Homeowners Choice Property & Casualty Insurance is designed to be straightforward and efficient. Policyholders can manage their medical payments through the company’s online platform, ensuring ease of access and convenience. Here is a step-by-step guide to ensure a smooth payment process:
- Log into Your Account: Begin by accessing the Homeowners Choice website and logging into your account using your credentials. If you do not have an online account, you may need to register first.
- Navigate to Payment Options: Once logged in, locate the payment section on the dashboard. This area will provide you with various payment methods and options.
- Select Your Payment Method: Choose your preferred payment method, such as credit/debit card, bank transfer, or electronic check. Ensure that the selected method is up-to-date and valid.
- Enter Payment Details: Input the required payment information, including card numbers or bank details. Double-check these details to avoid any errors that could disrupt your coverage.
- Review Payment Amount: Before finalizing, review the payment amount to ensure it aligns with your billing statement. This step helps prevent any discrepancies or overpayments.
- Confirm and Submit Payment: After verifying all details, confirm and submit your payment. You should receive a confirmation message or email once the transaction is successful.
- Set Up Automatic Payments (Optional): For added convenience, consider setting up automatic payments. This option ensures your premiums are paid on time, reducing the risk of lapses in coverage.
How to File a Claim
How to File a Claim
Filing a claim with Homeowners Choice Property & Casualty Insurance involves a structured process to ensure a thorough evaluation of the incident. Follow these steps for a successful claim submission:
- Initiate the Claim:
- Online: Log into your account on the Homeowners Choice website. Navigate to the claims section and fill out the required forms with details about your policy and the incident.
- Phone: Alternatively, call the dedicated claims phone number at (866) 324-3138 for immediate assistance from a claims representative.
- Provide Incident Details:
- Clearly describe the incident, including the date, time, and nature of the event. Provide any initial documentation or evidence, such as photos or videos, to support your claim.
- Assigning an Adjuster:
- After filing, Homeowners Choice will assign an adjuster to your case. The adjuster will contact you to schedule an inspection of the damage and discuss the details of your policy coverage.
- Documentation Submission:
- Prepare to submit additional documentation requested by the adjuster. This may include repair estimates, police reports (if applicable), and any other relevant information to substantiate your claim.
- Claims Processing:
- The adjuster will evaluate the damage and review your policy limits and terms. Maintain open communication with the adjuster to address any questions or concerns during this stage.
- Claim Approval and Payment:
- If your claim is approved, Homeowners Choice will issue a payment based on the coverage limits specified in your policy. Verify the payment amount and retain all documentation for your records.
- Dispute Resolution:
- If your claim is denied or if you disagree with the settlement, you can seek legal support from firms like Louis Law Group to explore your options for dispute resolution.
Key Competitors
Key Competitors
Homeowners Choice faces significant competition in the insurance market. Gulf State Insurance offers tailored property and casualty insurance products, specializing in homeowners and the national flood insurance program in the Gulf Coast market. Plymouth Rock Assurance focuses on both auto and home insurance, providing a variety of policies, including coverage for renters and flood protection. These companies offer diverse products that could be attractive alternatives for potential policyholders.
El’Ezra Holdings operates across multiple sectors, including insurance, but does not specialize solely in property insurance. USI acts as an insurance brokerage offering property and casualty insurance, along with employee benefits and personal risk management services. Nationwide Mutual Insurance Company provides a wide range of insurance products, including property insurance, and is also involved in financial services. Each of these competitors brings unique strengths to the table, providing potential customers with various options to consider.
While Homeowners Choice offers customizable solutions, it’s important to compare these offerings with competitors. Evaluate factors such as financial stability, customer service, and coverage options to determine the best fit for individual needs.
Conclusion
Wrapping Up
Several key factors stand out when evaluating Homeowners Choice. The ‘A’ rating from Demotech signifies strong financial health, reassuring policyholders about the company’s ability to meet financial obligations. However, the lack of an AM Best rating may concern customers who prefer a more universally recognized endorsement.
Homeowners Choice offers competitive rates but has faced criticism for unexpected fees that were not clearly communicated at policy purchase. Alternatives like Amica, known for affordable premiums, and USAA, recognized for comprehensive coverage and high customer satisfaction, present strong competition.
While Homeowners Choice offers valuable customization options, potential customers should weigh these against the company’s customer service reputation and available alternatives.
To help prospective policyholders better understand Homeowners Choice Property & Casualty Insurance, here are some frequently asked questions and their answers:
Frequently Asked Questions
Frequently Asked Questions

Homeowners Choice offers homeowners, condominium, dwelling, and renters insurance, each designed with specific coverages tailored to the needs of Florida residents.

You can file a claim by logging into your account on their website or calling their dedicated claims phone number, (866) 324-3138.

Discounts are available indirectly through partnerships with insurers like Safeco and Liberty Mutual, which provide their own discounts.
You have several convenient options to obtain a quote:
- Online: Visit Vault's website and complete their online quote request form.
- Phone: Call their dedicated team at (212) 972-7583 to discuss your needs and receive a personalized quote.
- Consultation: Reach out to Worth Insurance for expert guidance and a comparative quote, ensuring you find the perfect fit for your needs.

The company has received an ‘A Exceptional’ rating from Demotech, Inc., indicating a high level of financial stability.
Vault offers 24/7 claims support, ensuring you receive prompt assistance whenever the unexpected occurs.
- General Claims: Call 1-844-388-LOSS (5677) or email CLAIMSFNOL@VAULT.INSURANCE
- Roadside Assistance: Call 1-833-741-1141 or click "GET HELP NOW" on their website.
- Glass Claims & Repair: Call 1-800-865-9501 or click "FIX MY GLASS" on their website.
- International Callers: Call 1-727-440-3559

While Homeowners Choice offers customizable insurance solutions, competitors like Amica and USAA may offer more affordable premiums and higher customer satisfaction.

Property and casualty insurance from Homeowners Choice covers damages to your home, personal possessions, and personal liability, offering comprehensive protection against various risks.

Yes, homeowners have the freedom to choose their insurance provider, allowing them to select a policy that best fits their needs and preferences.

Homeowners Choice is a part of HCI Group, Inc., a publicly held company based in Tampa, Florida.

Homeowners Choice has been awarded an 'A Exceptional' financial stability rating by Demotech, a leading actuarial and financial analysis firm.

As of the latest data, Universal Property & Casualty Insurance Company is recognized as one of the largest home insurers in Florida, offering a wide range of insurance products.

