FedNat Insurance Company Review

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Free. Simple. Secure.

Written by
Darren Craft
Financial Rating
NAIC Group
Fednat Holding Co Group
14050 Northwest 14th Street, Suite 180. Sunrise, Fl 33323
Service Phone Number
Claims Phone Number
AL, FL, GA, LA, MS, SC, TX. Due to the company’s restructuring actions, FedNat is exiting Louisiana, Texas, Mississippi, Alabama, and South Carolina and cancelling more than 68k homeowners policies in Florida.
Get a Quote Now
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

FedNat Insurance Company at a Glance

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. 

What Type of Insurance Does FedNat Insurance Company Offer?

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: 

  • Federally backed flood insurance - this pays for flood damage to your home and is a standard coverage backed by the federal government 
  • Umbrella liability coverage - if you are sued for medical damages or other damages sustained by someone injured while on your property, umbrella liability coverage can offer you financial protection 
  • Flo by Moen - you may receive a discount if you have a smart home monitoring system and a leak detection system
  • Service Line - this coverage add-on extends protection to underground pipes, wiring, as well as service lines 
  • Social media coverage - this can help track your social media accounts and notify you if any one of them seems to have been compromised 
  • Identity theft protection - this protection includes financial reimbursement in case you need any identity theft and recovery services 
  • Equipment breakdown - if you encounter any unexpected repairs because of electrical, mechanical, or pressure system damages, this may protect you 

What to Know about FedNat Insurance Company

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. 

Financial Summary Table

Reporting Period Net Admitted Assets Policyholders Surplus Gross Premiums Written Net Premiums Written
Reporting Period3/31/2022 Net Admitted Assets$483,934,943 Policyholders Surplus$73,161,692 Gross Premiums Written$122,469,295 Net Premiums Written$83,985,443
Reporting Period12/31/2021 Net Admitted Assets$491,568,779 Policyholders Surplus$99,369,123 Gross Premiums Written$584,274,736 Net Premiums Written$129,968,425
Reporting Period12/31/2020 Net Admitted Assets$589,230,368 Policyholders Surplus$105,920,204 Gross Premiums Written$618,574,606 Net Premiums Written$170,037,465

What Discounts Does FedNat Insurance Company Offer?

FedNat does not offer much in terms of discounts or extra benefits. 

FedNat Insurance Company Customer Service

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. 

Get In Touch

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.
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.
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 is FedNat Insurance Company's average claim response time frame?

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.

What is FedNat Insurance Company's claims process?

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.

Does FedNat Insurance Company have good homeowners insurance?

FedNat Insurance Company currently does not offer new homeowners insurance policies in Florida.

What is FedNat Insurance Company's customer service availability?

The FedNat customer service is available Monday through Friday, from their business hours of 8 AM to 6 PM EST.

Does FedNat Insurance Company create a user-friendly experience for customers?

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.

Is FedNat Insurance Company a good insurance company?

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.