Olympus Insurance Company Review

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Written by
Darren Craft

Olympus Insurance, established in 2007, is renowned for its dedicated service to Florida homeowners. Specializing in a range of property insurances, including homeowners, condo, and landlord insurance, Olympus has carved a niche for itself in the Sunshine State. The company's steadfast commitment to providing tailored insurance solutions highlights its deep understanding of Florida's unique insurance needs and challenges.

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NAIC Group
4200 Northcorp Parkway, Suite 400, Palm Beach Gardens, FL 33410
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Olympus Insurance Overview

With a commendable A rating from Demotech for financial stability and an A+ from the Better Business Bureau, Olympus Insurance exemplifies reliability and trust. Their offerings extend beyond standard homeowners insurance, encompassing flood insurance and several optional coverages like equipment breakdown and identity theft protection, ensuring comprehensive protection for Floridians against diverse risks.

  • Founded in 2007, focusing on Florida property insurance.
  • Offers homeowners, condo, townhome, and landlord insurance, plus flood and scheduled personal property coverage.
  • Rated A by Demotech and A+ by the BBB, reflecting strong financial stability and customer service.
  • Provides comprehensive coverage options, including unique add-ons for complete protection.

Olympus Insurance's dedication to serving Florida's homeowners with comprehensive, customizable insurance policies sets it apart in the industry. Their approach not only addresses the standard needs of property insurance but also caters to the specific challenges faced by Floridians, such as the threat of hurricanes and floods, making Olympus a go-to choice for residents seeking peace of mind in their insurance provider.

Olympus Insurance Products and Packages

Olympus Insurance provides a comprehensive suite of insurance products designed specifically for Florida homeowners. Their offerings are meticulously tailored to address the unique challenges and risks associated with owning property in the state, such as hurricanes, floods, and more. By focusing on a wide range of coverage options, Olympus ensures that every homeowner finds a policy that best suits their needs, providing peace of mind in the face of natural and man-made disasters.

Their packages go beyond the typical insurance offerings, providing specialized coverage options for a variety of living situations. Whether you own a single-family home, a condo, or you're renting out your property, Olympus has developed specific packages to ensure that your investment is protected. This attention to detail and customization is what sets Olympus apart in the crowded insurance market of Florida.

  • Homeowners Insurance: Tailored for both primary and secondary homes.
  • Condo Insurance: Designed for condo owners, covering interior structures, personal property, and liability.
  • Townhome Insurance: Offers protection similar to homeowners insurance, with considerations for townhome living.
  • Landlord Insurance: For property owners renting out their homes, covering the building, lost rental income, and liability.
  • Scheduled Personal Property: Additional coverage for valuables such as jewelry, art, and collectibles.
  • Flood Insurance: Essential in Florida, offering protection against water damage not covered by standard policies.

HomeShield Plus Package

The HomeShield Plus package is Olympus's premier offering, combining dwelling, personal property, liability, and additional living expenses coverage. Tailored for homeowners seeking comprehensive protection, it includes enhanced limits and additional coverages such as identity theft and equipment breakdown, making it ideal for those who desire extra security and peace of mind.

Spartan Enhanced Coverage

Designed for the budget-conscious homeowner who doesn't want to compromise on protection, the Spartan Enhanced Coverage package offers a balanced approach. It covers essential needs including dwelling, personal property, and liability, while also incorporating flood insurance as a standard feature, a must-have for Florida residents.

Landlord Shield Package

Specifically tailored for rental property owners, the Landlord Shield package offers dwelling protection, liability coverage, and loss of rental income insurance. It's designed to protect landlords from the unique risks associated with renting out their property, including tenant damage and legal liabilities, ensuring their investment remains profitable.

Elite Home Repair Services for Florida Residents

Olympus Insurance stands by its Florida homeowners, not just with robust insurance coverage, but also with exceptional post-claim service. Introducing the Elite Repair Program — a service designed to provide policyholders with the highest standard of repair services when they need it most.

The Elite Repair Program Advantage:

  • High-Quality Craftsmanship: Our program partners with trusted, licensed contractors known for their excellent work. These Elite Members are meticulously selected to ensure that your home repairs meet the highest standards of quality and workmanship.
  • Convenience and Protection: Olympus Insurance's Elite Repair Program eliminates the hassle and potential for third-party fraud by directly coordinating with repair professionals who have been vetted for their reliability and expertise.
  • Supportive Customer Care: From the moment a claim is made, our Elite Repair Program ensures that homeowners receive attentive support throughout the process, including assistance with scheduling contractors, so there's less for you to worry about.
  • Guided Expertise: Every Elite Member contractor is an expert in their field, providing homeowners with guidance and ensuring that every repair decision is informed and beneficial to the long-term well-being of their property.
  • Peace of Mind: Knowing that only licensed and insured contractors will handle your home's repairs allows for a stress-free recovery from any damage, giving you the assurance that your home is in good hands.
  • Safety First: Our commitment to your safety and peace of mind is unwavering, which is why the Elite Repair Program only involves contractors who are fully licensed and insured, providing added security and trust in the services rendered.

The Elite Repair Program is not just about fixing damages — it's about restoring your peace of mind as swiftly and smoothly as possible. For Florida homeowners, where weather-related damages can be a frequent concern, having access to such a dedicated repair service ensures that your home is well-cared for by professionals who are committed to excellence.

Olympus Insurance Premiums

Olympus Insurance caters to Florida homeowners with a focus on offering comprehensive coverage that suits the unique needs of the state. Given Florida's susceptibility to natural disasters like hurricanes and floods, insurance premiums in the region are generally higher compared to the national average. In 2024, the average annual home insurance premium in Florida is around $8,770, significantly higher than the national average, showcasing the heightened risk factors associated with insuring properties in the state​​.

For those seeking affordable options, Olympus Insurance provides competitive rates and packages designed to offer value without compromising on coverage. Although specific premium rates for Olympus were not directly found, the landscape of Florida's insurance market suggests Olympus aims to provide financially reasonable options for comprehensive protection.

Companies like Security First and Tower Hill, for example, offer rates significantly below the state average, at $721 and $1,189 per year respectively, reflecting the competitive nature of the market and the possibility for homeowners to find affordable rates​​​​.

  • Florida's average annual home insurance premium is notably high at $8,770 due to the state's risk factors.
  • While specific rates for Olympus were not detailed, the company is known for striving to offer quality protection at competitive rates.
  • The insurance market in Florida includes options like Security First and Tower Hill, offering premiums well below the state average, highlighting the competitive and varied nature of insurance premiums within the state.

Financial Summary Information

  • Net Admitted Assets (3/31/2022): $144,889,524
  • Policyholders Surplus (3/31/2022): $39,202,181
  • Gross Premiums Written (3/31/2022): $52,302,896
  • Net Premiums Written (3/31/2022): $10,095,501

Affordable Home Insurance Rates in Florida for New and Secured Homes

When it comes to safeguarding your home in Florida, Olympus Insurance stands out with its competitively priced policies for homes that meet specific criteria. Understanding that newer homes and those with enhanced security measures often present fewer risks, Olympus Insurance rewards these homeowners with more attractive rates.

Criteria for Competitive Pricing:

  • New Home Advantage: If your home is 10 years old or newer, Olympus Insurance recognizes the lower risk associated with newer constructions and offers premiums that reflect this.
  • Valued Home Benefit: Homes that are appraised at higher values are often better maintained. Olympus recognizes this by offering lower insurance premiums.
  • Security Discount: For homes equipped with monitored burglar and fire alarms, Olympus offers significant discounts, acknowledging the reduced risk of theft and damage.
  • High Insurance Score Savings: Olympus Insurance looks favorably upon homeowners with high insurance scores (tier 6-15), offering reduced premiums for those who maintain a good credit history and a clean claim record.

Additionally, if your home features smart water protection systems, Olympus further extends discounts, promoting the use of technology that can prevent or minimize water damage.

Understanding these benefits is crucial for any Florida homeowner looking for insurance options that take into account the specific characteristics and safety measures of their property. With Olympus Insurance, taking proactive steps to protect your home not only brings peace of mind but also financial advantages through lower insurance premiums.

To find out more about how you can benefit from these competitive rates and to see if your home qualifies, visit Olympus Insurance’s detailed guide on Homeowner's Insurance Discounts.

Customer Service

Olympus Insurance is committed to providing its policyholders with accessible and efficient customer service alongside comprehensive claims assistance. The company is recognized for its effort to go the extra mile, ensuring policyholders can easily reach out through various channels for support and claims reporting. With a focus on quality customer service, Olympus Insurance seeks to address the needs of Florida homeowners effectively and efficiently.

  • For policy services and general inquiries, customers can contact Olympus Insurance by phone at 800.711.9386. There's also an option to reach out via email through policyservices@oigfl.com, providing a direct line to customer service representatives who can assist with policy questions, updates, or concerns​​​​.
  • In the event of needing to file a claim, Olympus Insurance has made available a dedicated claims hotline, which operates 24/7, at 866.281.2242. This ensures policyholders can report claims or seek urgent assistance at any time. For those preferring digital communication, claims can also be reported via email at olympusclaims@oigfl.com, allowing for a documented trail of communication and potentially faster processing​​​​.
  • Olympus Insurance encourages the use of their online portal, OICONNECT, accessible via their website. This platform offers policyholders a way to manage their policies, file claims, and access important information digitally, providing convenience and flexibility​​.

Eligibility & Underwriting Requirements

Before applying for a homeowner's insurance policy with Olympus Insurance, there are several important prerequisites and requirements that Florida homeowners should be aware of. These not only determine eligibility but also play a crucial role in how Olympus calculates insurance premiums.

Location and Inspection Criteria

  • Florida Residency: Olympus Insurance caters exclusively to properties located within Florida, ensuring a deep focus on the specific insurance needs of the state's residents.
  • Home Inspection: Depending on the age and specifics of your home, a detailed inspection may be necessary to evaluate potential risks and establish the right coverage.

Understanding Insurance Scores

  • Insurance Score Impact: For new business HO3 quotes, Olympus Insurance uses an insurance score that can affect your rate. This score is pulled at the time of application and during the quoting process to determine the most accurate rate for your policy.
  • Tier System for Scores: There is a tier system for insurance scores, with Tiers 1-4 having surcharges applied and Tiers 6-15 resulting in no rate impact or potential premium credits. Notably, a "No hit" Tier 16 also means no rate impact, but additional information may be required to secure an accurate rate.

Documents Required

To streamline the application process and ensure your coverage meets your needs, Olympus Insurance requires certain documents. These documents are crucial for assessing the property's value, ownership, and risk factors, which in turn help in tailoring the insurance policy to your specific situation.

  • Proof of Homeownership: This can be a deed or a recent mortgage statement confirming your ownership of the property.
  • Detailed Home Inspection Report: For older homes or properties with unique features, a recent home inspection report may be required to identify potential risks and the state of the property.
  • Photo Identification: A government-issued ID to verify the identity of the policy applicant.
  • Current Insurance Policy Declarations: If you're switching providers or have existing coverage, the declarations page of your current policy is needed for comparison and underwriting.
  • Property Tax Statement: This may be requested to verify the property's assessed value and ensure adequate coverage is provided.

Application Process

The application process for Olympus Insurance is designed to be straightforward and customer-friendly, aiming to ensure that prospective policyholders can secure coverage efficiently and without unnecessary hassle. Initially, the process involves gathering necessary documents and information about the property to be insured, including details regarding its location, age, construction, and any existing coverage. This preparatory step is crucial for a smooth application process and accurate policy underwriting.

Following the preparation phase, applicants are encouraged to either contact Olympus Insurance directly through their customer service channels or utilize the online platform for quoting and application submission. The online system provides a convenient and fast way to get a quote, allowing homeowners to input their property details and receive an estimate quickly. For a more personalized service or if there are specific questions regarding the coverage options, contacting an agent directly can provide tailored advice and assistance throughout the application process.

Navigating the application process for homeowner's insurance can be complex, especially when ensuring you're getting the coverage that best fits your needs at a competitive rate. Worth Insurance specializes in simplifying this journey for Florida homeowners. By offering expert guidance and comparison tools, Worth Insurance can help you understand the nuances of different policies, including those offered by Olympus Insurance. Contact Worth Insurance today to make your application process as seamless as possible and secure the insurance that's right for you.

How to Make a Payment

To make a payment with Olympus Insurance, policyholders can navigate to the Olympus Insurance website and use the "Make A Payment" option available on the site. This streamlined process ensures that making payments is convenient and secure for all policyholders. For personalized assistance or more information about your payment options, Worth Insurance can help guide you through the process and ensure your insurance needs are met efficiently. Visit the Olympus Insurance website or contact Worth Insurance for support​​.

  1. Visit the Olympus Insurance website.
  2. Navigate to the "Make A Payment" section.
  3. Enter your policy information as required.
  4. Follow the prompts to enter payment details.
  5. Review and confirm your payment.

Flexible Payment Options for Olympus Insurance Policyholders in Florida

For Florida homeowners insured with Olympus Insurance, making premium payments is convenient and tailored to suit a variety of preferences. Here's how you can keep your policy up-to-date with your payments:

Accepted Payment Methods

  • Credit Cards: Olympus Insurance accepts major credit cards, including Visa, MasterCard, Discover, and American Express, for premium payments. Please note, a 2.99% convenience fee applies to all credit card transactions, ensuring secure and prompt processing.

Choose Your Payment Plan

  • Full Pay: Pay your annual premium in one installment and avoid any installment fees, making this the most cost-effective option.
  • 2 Pay: Opt for a semi-annual payment schedule with 60% of your total premium due initially and the remaining balance due in 6 months.
  • 4 Pay: If quarterly payments are more manageable, consider the 4 Pay option, where you pay 40% upfront and the rest over three equal installments every 90 days.

How to File a Claim

Filing a claim with Olympus Insurance is designed to be hassle-free, with options to file claims online or via their 24/7 hotline. Policyholders are assigned a dedicated claims adjuster to guide them through the process, ensuring a smooth and supportive experience.

  1. Access the Olympus Insurance website.
  2. Navigate to the "File a Claim" section.
  3. Utilize the insured portal, OICONNECT, for an online submission.
  4. Follow the provided instructions and fill out the necessary claim details.
  5. Submit any required documentation or evidence related to the claim.

Olympus Insurance Pros and Cons

When considering Olympus Insurance for your home coverage in Florida, it's beneficial to weigh the advantages and drawbacks to make an informed decision. Olympus stands out for its comprehensive coverage options and customer-focused services, tailored to meet the unique needs of Florida residents. However, like any insurance provider, there are aspects that may work better for some policyholders than others.


  • Comprehensive coverage options tailored for Florida residents.
  • Competitive pricing and a variety of discounts.
  • Exceptional financial stability and customer service ratings.


  • Limited to Florida, not available for homeowners in other states.
  • Some reports of claim denials based on technicalities, although experiences vary.

Who It's For: Olympus Insurance is ideal for Florida homeowners seeking robust coverage tailored to the state's specific challenges, like hurricanes and floods. It suits those who value comprehensive options and personalized customer service, aiming for peace of mind in their home insurance choice.

Wrapping Up

As we wrap up our exploration of Olympus Insurance's offerings and how they stand out in the Florida homeowner insurance market, it's clear that making the right choice for your insurance needs is paramount. For those seeking further guidance or exploring additional insurance solutions tailored to the unique challenges of Florida living, Worth Insurance stands ready to assist.

With a team of experienced professionals, Worth Insurance can help you navigate your options and ensure that you're well-protected. Reach out to Worth Insurance today for personalized service and expert advice on securing the best coverage for your home.

Darren Craft is a licensed insurance advisor. He has been an angel investor in a number of prominent fintech and insurtech startups.

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Written by
Darren Craft
Writer, Insurance
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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 Olympus Insurance's average claim response time frame?

Claims can be filed online, via email, or by phone. 

In most cases, Florida insurance carriers will decide on your insurance claim within 90 days. If your claim is approved by Olympus Insurance, they must pay you within 20 days of their decision. 

What is Olympus Insurance's claims process?

The claims can be filed 24/7 at (866) 281-2242 online at olympusinsurance.com/file-a-claim, and via email olympusclaims@oigfl.com

After filing the claim, an insurance adjuster will respond and assess the situation filed in the claim.

Does Olympus Insurance have good homeowners insurance?

With a good amount of discount options for their policies and a financial security rating of A, Olympus Insurance could potentially offer you higher value coverage than other property insurance companies. It also notably offers coverage for wind-driven rain damage, which many other insurers will not cover in their property insurance policies.

What is Olympus Insurance's customer service availability?

Olympus Insurance customer service can be reached through email or phone. Their Contact Page details the company’s various addresses and forms of contact.  

Does Olympus Insurance create a user-friendly experience for customers?

The website of Olympus Insurance is fairly easy to use and understand. There are several ways of contacting Olympus Insurance to make a complaint or file a claim. 

Olympus Insurance also has various social media platforms (Facebook, Twitter, LinkedIn, and Instagram). The Olympus Insurance company has a visible online presence that interacts with customers. 

Olympus Insurance has a rating of 3.2 stars in 66 Google reviews. It does not have many customer reviews on BBB either, though most of the reviews received were negative. 

On the official Olympus Insurance Testimonials, the company does have plenty of positive reviews and comments from their customers. 

Is Olympus Insurance a good insurance company?

If you are looking for property insurance, Olympus Insurance offers a variety of policies and has a 24/7 claims hotline. 

Like other insurance companies in Florida, Olympus Insurance faced significant financial challenges due to recent hurricane claims and rising legal costs. According to Demotech, Olympus Insurance is, notably, one of the companies that took some steps to deal with these challenges.  

Getting a quote for any insurance can be a difficult and uncertain process on your own. Shopping insurance is much easier with an advisor who has your back. You can always connect with our team at Worth Insurance to see whether there are better coverage options for you.