Monarch National Insurance Overview

Financial Stability

A Solid Foundation: Monarch’s Financial Strength

In Florida’s turbulent insurance market, financial strength isn’t a luxury—it’s a necessity. Monarch National Insurance has maintained an “A” rating from Demotech, a respected financial analysis firm that focuses specifically on regional carriers like those operating in Florida.

Here’s how Monarch stacks up:

Monarch National Insurance Financial Summary Table

Reporting Period

Net Admitted Assets

Policyholders Surplus

Gross Premiums Written

Net Premiums Written

3/31/2024

$352,732,544

$65,556,017

$99,254,859

$94,539,393

12/31/2023

$304,113,442

$60,572,212

$344,020,450

$201,295,885

12/31/2022

$214,476,049

$51,375,222

$240,932,506

$139,979,698

What that means for you:
You want a carrier that will still be standing after the next hurricane. Monarch’s growing surplus and premiums suggest a company that’s managing risk responsibly and scaling at a measured pace.

Products and Packages

What Does Monarch National Insurance Actually Cover?

Monarch offers four core policy types—HO3, HO4, HO6, and DP3—each customizable with a long list of endorsements. This flexibility is especially valuable in a state where no two homes face quite the same risks.

Here’s a quick breakdown of what’s on offer:

HO3: Homeowners Special

Best for: Owner-occupied single-family homes
This standard homeowners policy includes coverage for your structure, personal belongings, and liability. Add-ons are where Monarch really shines—allowing you to fine-tune your policy for Florida-specific threats.

Popular add-ons:

• Dog liability
• Equipment breakdown
• Identity theft resolution
• Ordinance or law upgrades
• Screen enclosure and carport buy-back
• Sinkhole damage
• Water backup and sump overflow

HO4: Contents Broad (Renters)

Best for: Tenants in apartments or rental homes
This policy protects your stuff—not the building itself—and includes liability protection. Optional coverages align closely with HO3, ensuring renters aren’t left exposed.

HO6: Unit-Owners (Condo Insurance)

Best for: Condo owners looking to protect personal belongings and interior structures
This policy includes key options like:

• Short-term rental to others
• Unit-owners rental coverage
• Ordinance or law protection
• Water backup and sump overflow

DP3: Dwelling Fire Special

Best for: Landlords and owners of seasonal or investment properties
Offers protection for the building and detached structures. Customize with:

• Short-term rental coverage (4-night minimum)
• Sinkhole protection
• Scheduled personal property
• Service line and equipment breakdown

Whether you’re safeguarding your primary residence or insuring an investment property, Monarch’s menu of optional coverages lets you tailor the policy to fit your lifestyle, location, and level of risk tolerance.

Pricing & Premiums

How Much Does Monarch Insurance Cost?

When it comes to homeowners insurance in Florida, cost is always a top concern—and Monarch National takes a flexible, tiered approach to pricing. With Bronze, Silver, and Gold coverage levels, you can choose a plan that fits your budget without sacrificing the protection you need.

Coverage Tiers:

• Bronze – Basic protection at the most affordable rate
• Silver – A balance of value and broader coverage
• Gold – Comprehensive protection with more bells and whistles

Each tier scales in price and benefits, making it easier for homeowners to find the right balance between cost and coverage. Not sure which fits best? That’s where Worth Insurance can step in and help you compare options.

Available Policy Types:

• HO-3: For homeowners
• HO-4: For renters
• HO-6: For condo owners
• DP-3: For landlords and seasonal property owners

What affects your premium?

• Location and age of home
• Roof condition and wind mitigation features
• Deductibles selected
• Coverage tier (Bronze, Silver, or Gold)
• Prior claims history

Want a quote tailored to your exact situation? Fill out a quick form with Worth Insurance and we’ll handle the comparison shopping for you.

Discounts and Credits

Ways to Save with Monarch National Insurance

Monarch doesn’t flood its marketing with discount hype—but if you qualify, there are meaningful savings on the table, especially if your home is well-built or updated to resist storms.

Here’s what to look for:

• Wind Mitigation Discounts: Homes with hurricane-resistant features—like impact windows, fortified roofs, or reinforced garage doors—can see major savings.
• New Construction Discount: Homes built to the latest Florida Building Code (FBC) tend to cost less to insure.
• Existing Home Upgrades: Even older homes (pre-2002) may qualify if they’ve been retrofitted with protective features.
• Citizens Insurance Switch Credit: If you’re moving from Citizens to Monarch, you may be eligible for loyalty-style discounts.

One caveat: Discount details aren’t always transparent during the quote process. Working with a broker like Worth Insurance can help uncover what you’re eligible for and ensure you’re not leaving money on the table.

Eligibility & Underwriting Requirements

What You’ll Need to Qualify for Coverage

Before you can lock in a policy with Monarch National, you'll need to meet a few basic criteria. This part isn’t just red tape—it’s how they ensure your coverage is priced fairly and tailored accurately.

What Monarch typically requires:

• Proof of homeownership – Deed, mortgage statement, or similar
• Property construction details – Year built, roofing material, structure type
• Safety features – Like wind mitigation upgrades, security systems, or shutters
• Recent home inspections – If available, especially for older homes

These details help underwriters determine risk and coverage eligibility. For homes with newer construction or completed upgrades (like fortified roofs or impact windows), this step could actually lead to better pricing.

Pro Tip: If you’ve made any improvements—new roof, updated plumbing, storm-resistant upgrades—make sure to mention them. They could tip the scale in your favor when it comes to discounts or eligibility.

Application Process

Getting Started Is Easier Than You’d Think

Applying for Monarch National Insurance is mostly digital and surprisingly painless. You won’t need to chase down an agent or spend hours on the phone.

Here’s how it works with Worth Insurance:

1. Start online – Fill out our quote form with basic info about your home.
2. We do the legwork – Our licensed agents compare packages and coverage tiers from Monarch (and others, if you’d like).
3. You get options – We walk you through pricing, coverage, and endorsements that matter for your home and location.
4. Choose and finalize – Once you’re ready, we help submit your application and handle the paperwork.

Need extra help along the way? Our team is just a phone call or email away, offering personalized support that most carriers simply don’t provide.

Customer Reviews & Service

What Are People Saying About Monarch National?

Monarch National Insurance receives a mix of feedback—pretty typical in Florida’s high-stakes insurance market. Some policyholders praise their responsive claims team and straightforward digital tools, while others express frustration over rate increases or policy changes. It’s a mixed bag, and worth unpacking.

What we’re hearing most often:

Positive

• Helpful customer service during claims
• Transparent online access to policy documents and billing
• Specialized Florida coverage that "makes sense"

Criticism

• Limited availability outside of Florida
• Occasional policy non-renewals or pricing shifts
• Some users felt information was lacking at signup

While Monarch handles support internally, Worth Insurance acts as an additional resource. We’re happy to help explain coverages, escalate issues, or simply offer a second opinion when you’re not sure what your next move should be.

Need help now?

• Call Monarch directly: 1-800-293-2532
• Or get support from Worth Insurance at 561-463-5814
• Prefer typing? Fill out our contact form and we’ll follow up fast

How to Make a Payment

Keeping Your Policy Active Is Easy

Paying your Monarch premium shouldn’t be a chore—and thankfully, it isn’t. They offer flexible payment options through a secure portal, so you can manage your policy with ease.

Payment steps:

1. Go to Monarch National’s website and click on “Make a Payment.”
2. Register (or log in) to your account using your policy number.
3. Choose your payment method: debit card, credit card, or bank transfer.
4. Confirm your details and submit.

Pro Tip: Set up automatic payments if you want one less thing to worry about during hurricane season.

How to File a Claim

The Claims Process, Simplified

Monarch knows that if you're filing a claim, you're likely not having a great day. That's why they've built a claims process that emphasizes speed, support, and minimal friction.

Here’s how to file:

1. Contact Monarch ASAP – Call the claims line at 1-800-293-2532 or file online through their customer portal.
2. Document everything – Take photos, save receipts, and jot down what happened. The more detail, the better.
3. Provide incident info – Include the date, time, type of damage, and any emergency actions you took.
4. Schedule inspection – An adjuster may visit your property, depending on the situation.
5. Follow up as needed – Stay in touch through your portal or call customer service to check your claim’s progress.

Quick Tip: Want a second set of eyes on your claim? We’ve helped hundreds of homeowners interpret coverage and prepare documentation—reach out if you'd like our support.

Key Competitors

Who Else Is in the Running?

Florida’s home insurance market is fiercely competitive. Monarch National holds its own by focusing exclusively on the state’s needs—but it’s not the only game in town.

Here are some of Monarch’s closest competitors:

• TypTap Insurance – Known for its tech-driven underwriting and strong flood protection options. Like Monarch, it’s laser-focused on Florida but uses advanced analytics for quotes.
• Olympus Insurance – Offers high-value policies with broad endorsements. Often favored by owners of upscale homes or unique properties.
• Florida Peninsula Insurance – Actually part of the same corporate family as Monarch, but with slightly different product positioning and pricing strategies.
• People’s Trust Insurance – Offers an in-house contractor network, making post-claim repairs fast and predictable. A great fit for those who prefer turnkey service after a storm.

Each competitor brings something different to the table—some lean on technology, others on customer service or bundled offerings. Monarch, by contrast, appeals most to Florida homeowners who want straightforward, dependable protection with flexible options and no out-of-state distractions.

Still comparing? We’re happy to walk you through all your options.

Conclusion

Is Monarch National Insurance Right for You?

If you're a Florida homeowner looking for practical, tailored coverage with real hurricane-readiness, Monarch National deserves a close look. The company’s financial stability, customizable coverage options, and understanding of Florida’s insurance terrain make it a strong contender in a high-risk market.

That said, Monarch isn’t the best fit if you’re hoping to bundle auto and home or if you're planning to move out of state. But for many homeowners across the peninsula, it's a smart, focused choice.

Next step? Let Worth Insurance match you with the right coverage tier, apply any eligible discounts, and walk you through your quote—all in one quick consultation.

👉 Request a Free Quote or call us directly at 561-463-5814 to get started.