FedNat Insurance, short for Federated National, is an insurance company that offers home insurance at fairly affordable rates, making them a solid insurance company in its locations of operation. FedNat also manages Monarch National, a Florida Property insurance company, and owns Maison Insurance Company.
As of May 2022: FedNat is not currently issuing new home insurance policies and is consolidating its policies under its subsidiary, Monarch National Insurance Company.
According to E&E News, FedNat very recently cancelled 68,200 homeowners policies in the state of Florida due to losing millions of dollars due to the major storms from 2020 and 2021.
Florida has been hit by a shockingly high number of nonrenewals and company liquidations this year, and an insurance crisis is projected by experts. FedNat has incredibly poor recent reviews on Better Business Bureau (BBB) despite an overall average rating of 3.53 stars.
FedNat Insurance offers homeowners insurance, high value homes insurance, condo insurance, renters insurance, flood insurance, personal umbrella insurance, landlord insurance, as well as extra protection. Due to current financial circumstances, their usual policies may be unavailable. They are largely focused on the Florida home insurance market.
Additional add-on coverage options are fairly limited. They include:
FedNat Insurance Company is currently struggling to due high levels of storm damages sustained by policyholders in the recent years. Before this, FedNat was known as a fairly good insurance company that provided affordable homeowners insurance in Florida.
FedNat does not offer many discounts or add-on coverage options, and does not allow you to customize your coverage or offer other such perks.
FedNat does not offer much in terms of discounts or extra benefits.
Customer service can be found online. FedNat can also be contacted by phone at 800-293-2532. Customer service is available from Monday through Friday 8 AM to 6 PM EST. The FedNat customer service is able to help with filing claims, making payments, requesting quotes, and other customer needs.
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.
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.
FedNat Insurance Company currently does not offer new homeowners insurance policies in Florida.
The FedNat customer service is available Monday through Friday, from their business hours of 8 AM to 6 PM EST.
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.
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.