There are over two dozen home insurance companies operating in the state of Florida. Some are regional and some have a nationwide presence. Nearly fifteen insurance companies have over a hundred thousand policies in force right now. Only two of these fifteen have around or more than half a million home insurance policies in force. These two are Universal and Citizens. Security First has more than three hundred thousand, FedNat comes close and Heritage has around a quarter of a million policies in force.
It is difficult to make a generic list of the top rated homeowners insurance companies because there are various types of policies. Some insurers specialize in certain kinds of coverage. Some insurers have more expensive policies than others. As a homeowner, you must balance everything, from annual cost to the extent of coverage, the ease of filing claims and the track record of the insurer of honoring their pledges.
•Citizen’s is the second largest insurer in the state and clearly one of the top rated homeowners insurance companies. The nonprofit insurer is often rated higher than Universal but the latter has more policies in force. Citizen’s is known to offer discounts on premiums. There are reductions available if properties stringently adhere to the building codes. Premiums are discounted if there are impact resistant doors and windows, storm shutters and alarms, including for fire and burglar.
•Universal is obviously one of the top rated homeowners insurance companies in Florida but primarily owing to the premiums. It indeed has some of the most affordable insurance policies in the state. The policies are not necessarily comprehensive. Homeowners should thoroughly explore the available policies, read the terms, understand the coverage and assess the exemptions. Universal has a reliable customer service team. It enables policyholders to submit claims anytime. There is an automated system and actual people at the other end of the helpline.
•St. Johns is another insurer among the top rated insurance companies in Florida. This insurer specializes in property insurance and hence you are likely to get much better expertise and hence an unfailing focus on the nature of coverage you need for your house or condo. You will not get multi-policy discounts though.
•Florida Peninsula is a local insurer. It has been in business for over a decade now. It has become one of the top rated homeowners insurance companies in Florida primarily owing to its handling of claims in the aftermath of hurricanes. The company is based in Florida but it does not have a literally statewide presence.