Narragansett Bay Homeowners Insurance Review & Ratings (2024)
Protect your properties and peace of Mind with NarraGANsett Bay Insurance - Comprehensive Coverage Tailored to your needs. Don't leave your property vulnerable to risks. NarraGANsett Bay Insurance offers a range of policies to safeguard your home, condo, or rental property against unforeseen events.
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Kalyn Johnson
Insurance Claims Support & Sr. Adjuster
Kalyn grew up in an insurance family with a grandfather, aunt, and uncle leading successful careers as insurance agents. She soon found she has similar interests and followed in their footsteps. After spending about ten years working in the insurance industry as both an appraiser dispatcher and a senior property claims adjuster, she decided to combine her years of insurance experience with another...
Insurance Claims Support & Sr. Adjuster
UPDATED: Sep 17, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Sep 17, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
Welcome to our comprehensive guide on Narragansett Bay homeowners insurance. In this article, we will delve into the essential aspects of securing your home and belongings with reliable insurance coverage. We understand the significance of protecting your property against unforeseen events such as fires, thefts, natural disasters, and liability claims.
- Narragansett Bay Insurance Company offers homeowners and commercial property coverage
- They specialize in high-risk policies along the eastern seaboard
- Their financial standing is strong and their customer ratings are about average
That’s why we will explore the key topics that include understanding the coverage options provided by Narragansett Bay homeowners insurance, tailoring your policy to suit your specific needs and budget, and ensuring peace of mind by choosing a trusted insurance provider.
About Narragansett Bay Insurance Company
Narragansett Bay Insurance Company offers homeowners insurance products to customers along the eastern seaboard. They underwrite their own policies and have written over $900 million in gross premiums. You can purchase NBIC insurance in the following states:
- Connecticut –– find Connecticut insurance agents and brokers online
- Delaware –– find Delaware insurance agents and brokers online
- Maryland –– find Maryland insurance agents and brokers online
- Massachusetts –– find Massachusetts insurance agents and brokers online
- New Jersey –– find New Jersey insurance agents and brokers online
- New York –– find New York insurance agents and brokers online
- Rhode Island –– find Rhode Island insurance agents and brokers online
- Virginia –– find Virginia insurance agents and brokers online
The company is headquartered in Johnston, Rhode Island, and has been in business since 1952.
NBIC has deep roots within the insurance industry. The company is an offshoot of the Pawtucket Mutual Fire Insurance Company that was founded in 1848, which was the second mutual insurance company formed in Rhode Island. The company survived the Great Depression and the hurricane of 1938 and continues to flourish to this day.
NBIC has a very strong executive team. Timothy Moura is the current president of the company and has more than 25 years of experience in the insurance industry. Kirk Lusk, the chief financial officer, also has more than 25 years of experience underwriting insurance policies. With a strong team leading the ship, NBIC has weathered many years of storms and catastrophic claims along the eastern coastline.
In 2017, NBIC was acquired by Heritage Insurance Holdings, Inc. Narragansett Bay Insurance Company still operates as an insurance carrier under its own business name, but now has the financial backing of Heritage Insurance.
Obtaining a Narragansett Bay Insurance Company Homeowners Policy
Getting a policy from NBIC is not as simple as other companies.
How does an insurance company determine premiums? Narragansett Bay Insurance Company uses a unique risk appraisal and underwriting program called ShelterPride. The company sends a representative to visit your home and conducts a professional dwelling survey in order to give you the correct coverage based on replacement costs.
In the process, they also review any hazards or potential threats that could be deemed a vulnerability for a loss.
This is a more intensive process than most other insurance companies. Although it may be an inconvenient process, you could be credited with a reduction to your premium if it is found that your home is overinsured.
Narragansett Bay Insurance Company does not offer any way to receive a quote online. You must go through their network of independent insurance agents. They do have an online tool to find an agent in your area that is partnered with NBIC.
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Policies Available With Narragansett Bay Insurance Company
NBIC offers basic homeowners and commercial property insurance policies to its customers. The types of policies available include:
- Homeowners insurance policy. Covers personal liability, medical payments, loss of use, personal property, and detached structure coverage to your single-family dwelling
- Condominium insurance policy. Additional coverage for personal property, liability, and medical payments for condominium homeowners
- Renters insurance policy. Personal liability, medical payments coverage, and policyholder personal property coverage for rental units
- Dwelling insurance policy. Covers protection against fire, loss of rent, detached structures, personal liability, and medical payments for single-family or duplex dwellings that are rented
- Commercial residential insurance. A policy for apartment complexes, retirement homes, and multiple condominiums
NBIC also offers several add-ons to its basic policies that include personal umbrella, home systems protection, flood endorsement, personal valuables, other structure coverage, and identity theft.
Narragansett Bay Insurance Company Financial Stability
When reviewing insurance companies, it is important to look at their financial strength. Their financial stability can determine whether a company can pay out its claims to customers.
NBIC has received a score of an “A” which is considered to be exceptional. This score was issued in December of 2021 by the insurance rating company Demotech.
Over the past three years, Narragansett Bay has kept a stable policyholder surplus of over $100 million. This surplus can be used to pay out claims to customers as needed.
Overall, NBIC shows strong financial stability which is a promising sign that the company can handle a large number of claims.
From Incident to Resolution: Narragansett Bay Homeowners Insurance Claims
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
Narragansett Bay Insurance offers multiple convenient channels for filing insurance claims. Customers can choose to file their claims online through the company’s website, over the phone, or even through mobile apps. This flexibility allows policyholders to select the method that suits their preferences and needs, making the claims process more accessible and user-friendly.
Average Claim Processing Time
One crucial aspect of homeowners insurance is the speed at which claims are processed. Narragansett Bay Insurance prides itself on efficient claim processing. While specific processing times can vary depending on the complexity of the claim, the company has a track record of addressing claims promptly. This quick turnaround time can provide policyholders with peace of mind during challenging times.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback is a valuable indicator of an insurance company’s performance. Narragansett Bay Insurance has received mixed reviews regarding claim resolutions and payouts.
While some customers have praised the company’s professionalism and responsiveness in handling claims, others have expressed concerns about the inspection process and delays in receiving payouts. It’s essential for potential policyholders to consider both positive and negative feedback when evaluating their insurance options.
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Elevating Insurance Through Narragansett Bay Homeowners Insurance Tech
Mobile App Features and Functionality
Narragansett Bay Insurance understands the importance of digital accessibility. Their mobile app offers a range of features and functionalities to enhance the customer experience. Policyholders can use the app to access policy information, file claims, make payments, and even request assistance. This mobile app empowers customers to manage their insurance needs conveniently from their smartphones.
Online Account Management Capabilities
In the digital age, having robust online account management capabilities is crucial for insurance providers. Narragansett Bay Insurance offers policyholders a user-friendly online portal where they can log in to view and manage their policies. This portal allows customers to review coverage details, update personal information, and access important documents, ensuring transparency and ease of use.
Digital Tools and Resources
To assist homeowners in making informed decisions, Narragansett Bay Insurance provides a variety of digital tools and resources. These resources may include calculators for estimating coverage needs, informative articles, and educational materials about home insurance.
By offering these digital tools, the company empowers its customers to better understand their insurance options and make informed choices to protect their homes and belongings.
Narragansett Bay Insurance Company Reviews
NBIC has been reviewed by hundreds of customers across several online platforms, with the most reviews residing on Google Maps.
The average rating for Narragansett Bay Insurance Company rating is 3.0 stars. This is an average rating for Narragansett homeowners insurance companies.
Some customers have complained about the onsite inspection process to receive a quote from the company. They have noted that the customer must pay an initial fee for the inspector visit and that in some cases it has taken several weeks for them to do the inspection.
Others have complained about unfounded policy cancellations that are given without notice.
Positive reviews have mentioned that the company is quick to respond to claims and that its response team is very professional. Others have experienced excellent service in regard to water damage and mitigation.
Narragansett Bay Insurance Company California BBB rating stands at a B+ and is not officially accredited. Out of six customer reviews with the BBB, the company has received a 1.67-star rating.
The NAIC complaint index report for NBIC in 2021 stands at 0.58, which is lower than the national average index score of 1.0. The complaint index report is determined by dividing the insurance company’s share of complaints in the market by the premium share in the U.S.
In the past three years, the company has averaged five complaints per year, which is lower than average.
Overall, Narragansett Bay Insurance Company has average scores from its customers. Combined with a low complaint index, the company seems to perform fairly well with customer satisfaction rates.
Narragansett Bay: Your Top Choice for Homeowners Insurance
Homeowners insurance ratings are essential for homeowners seeking reliable coverage, and Narragansett Bay Insurance Company understands this need well. As one delves into homeowners insurance California reviews, Narragansett Bay stands out for its exceptional homeowners insurance company rating.
With a strong focus on customer satisfaction, they consistently earn high homeowners insurance company ratings due to their responsive Narragansett Bay agent login, comprehensive Narragansett Bay insurance company services, and easily accessible Narragansett Bay insurance phone number for inquiries and claims.
For those in the region, such as homeowners in Rhode Island seeking Narragansett home insurance, or even those in states like Maryland, New York, or California, Narragansett Bay emerges as a top choice.
Their commitment to quality coverage and responsive service makes them contenders for the title of best homeowners insurance Maryland, best homeowners insurance California, or best homeowners insurance NY.
Before making a decision, it’s wise to review homeowners insurance options thoroughly, and Narragansett Bay consistently ranks among the top choices in such evaluations.
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Insuring Your Home: Narragansett Bay Insurance Review
When it comes to home insurance ratings, Narragansett Bay Insurance Company stands out as a reliable choice, especially for homeowners in Rhode Island seeking Rhode Island high value home insurance. Their commitment to providing top-notch service and comprehensive coverage earns them accolades among best homeowners insurance options in the region.
With a focus on customer satisfaction, they have garnered best home insurance reviews from satisfied clients who appreciate their tailored solutions and competitive rates. Whether you’re in Maryland, California, New York, or elsewhere, Narragansett Bay’s offerings extend beyond state lines, catering to diverse needs with their services offered by Narragansett Bay Insurance Company.
For those searching for cheap homeowners insurance, Narragansett Bay remains a standout choice, offering cost-effective options without compromising on quality. Homeowners in states like Georgia and Wisconsin can benefit from their cheap homeowners insurance Georgia and cheap homeowners insurance Wisconsin plans, ensuring peace of mind without breaking the bank.
With a reputation for reliability and flexibility, Narragansett Bay Insurance Company secures its place among the best rated homeowners insurance providers, offering a blend of affordability and comprehensive coverage that meets the diverse needs of homeowners nationwide.
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Narragansett Bay Homeowners Insurance: Reviews & Ratings
Narragansett Bay Insurance Company Review: The Bottom Line
Narragansett Bay Insurance Company has been offering a basic, yet strong, line of homeowners and commercial insurance policies to its customers since 1952. They have valuable experience in covering high-risk coastal areas that face tropical storms and hurricane threats every year.
Customers can only receive a policy with NBIC through their network of independent insurance agents. They send out an inspector to thoroughly review every dwelling they insure. This process can be lengthy, and there is an initial fee.
The company is in very strong financial standing with more than $100 million in capital surplus which can be used to pay out claims.
Customer reviews are mixed but are overall average for a homeowners insurance company. The most frequent complaints comprise dropped policies and a slow quote process.
If you are in a high-risk weather area along the eastern seaboard and do not mind going through their initial inspection process, then Narragansett Bay Insurance Company could be a good fit for you.
Frequently Asked Questions
What is Narragansett Bay Insurance?
Narragansett Bay Insurance is a company that offers insurance coverage for homes, condominiums, and rental properties. They provide coverage for a variety of perils, including fire, theft, and vandalism.
How can I get a quote for Narragansett Bay homeowners insurance?
You can get a quote for Narragansett Bay homeowners insurance by visiting their website or contacting their customer service department. You will need to provide information about your home, such as its location, size, and value.
What types of coverage does Narragansett Bay homeowners insurance offer?
Narragansett Bay homeowners insurance offers a range of coverage options, including dwelling coverage, personal property coverage, liability coverage, and loss of use coverage. They also offer optional endorsements, such as flood insurance and equipment breakdown coverage.
Is Narragansett Bay homeowners insurance available in my state?
Narragansett Bay homeowners insurance is available in several states, including:
- Connecticut
- Massachusetts
- New Jersey
- New York
- Rhode Island
You can check their website or contact their customer service department to see if they offer coverage in your state.
How are the customer reviews for Narragansett Bay homeowners insurance?
Narragansett Bay homeowners insurance has mixed customer reviews. Some customers praise their competitive rates and responsive customer service, while others complain about slow claims processing and difficulty getting coverage for certain perils.
How does Narragansett Insurance determine my premium?
Narragansett Bay Insurance determines your premium based on several factors, including the age and condition of your home, the location of your home, and your claims history. They may also consider factors such as your credit score and the type of coverage you select.
Can I bundle my home and auto insurance with Narragansett Bay Insurance?
No, Narragansett Bay Insurance does not offer auto insurance. However, they may be able to recommend an insurance provider who can bundle your home and auto insurance.
How can I file a claim with Narragansett Bay Insurance?
You can file a claim with Narragansett Bay Insurance by contacting their claims department either through their website or customer service hotline. You will need to provide details about the damage or loss and any supporting documentation.
Does Narragansett Bay homeowners insurance feature any discounts?
Yes, Narragansett Bay Insurance offers a variety of discounts, such as multi-policy discounts, protective device discounts, and claims-free discounts. They also offer discounts for homes that are located in a gated community or have a security system installed.
Is Narragansett Bay a good insurance company?
I can’t provide personal opinions or ratings, but you can look up reviews and ratings from sources like J.D. Power, AM Best, or consumer review websites to gauge the company’s reputation.
Who owns Narragansett Bay insurance?
Narragansett Bay Insurance Company is owned by Heritage Insurance Holdings.
Is the Narragansett Bay Insurance Company admitted in California?
As of my last update, Narragansett Bay Insurance Company was admitted in California. However, it’s advisable to verify this information with the California Department of Insurance for the most current status.
How long has the Narragansett Bay insurance company been in business?
Narragansett Bay Insurance Company has been in business since 2008.
What states does Narragansett Bay insurance write in?
Narragansett Bay Insurance Company writes policies in multiple states, including Massachusetts, Rhode Island, Connecticut, New Hampshire, New Jersey, and New York.
Who founded Narragansett Bay?
Narragansett Bay Insurance Company was founded by Nicholas P. Steen in 2008.
Is Narragansett Bay a RIA?
Narragansett Bay Insurance Company is not a Registered Investment Adviser (RIA). It is an insurance company specializing in property and casualty insurance.
Who has the best homeowners insurance?
Determining the “best” homeowners insurance company can vary depending on individual needs and preferences. It’s essential to research and compare different providers based on factors such as coverage options, customer service, financial stability, and pricing.
Are any insurance companies writing homeowners insurance in California?
Yes, there are several insurance companies writing homeowners insurance in California. Some prominent ones include State Farm, Allstate, Farmers Insurance, and Liberty Mutual, among others.
Why has my homeowners insurance doubled?
There could be several reasons why your homeowners insurance doubled, including increased risk factors such as a history of claims, changes in your home’s condition or value, changes in the insurance company’s underwriting guidelines, or regional factors such as increased frequency of natural disasters.
How much does the average person spend on home insurance?
The average cost of homeowners insurance varies depending on factors such as location, home value, coverage limits, and insurance company. However, as of recent data, the average annual premium for homeowners insurance in the United States is around $1,200.
Who is the number 1 home insurance company in America?
The “number 1” home insurance company in America can vary depending on different criteria and rankings. Several companies, including State Farm, Allstate, and USAA, are often considered among the top choices based on factors such as market share, customer satisfaction, and financial strength
Is homeowners insurance required in Rhode Island?
Homeowners insurance is not legally required by Rhode Island state law. However, most mortgage lenders will require homeowners to carry insurance as a condition of the loan.
What is the best homeowners insurance for seniors?
The best homeowners insurance for seniors depends on individual needs and preferences. Companies like AARP, USAA, and others offer specialized coverage and discounts tailored to seniors’ needs.
Who is not eligible for a homeowners policy?
Individuals who pose high risks to insurance companies, such as those with extensive claims history, properties in high-risk areas prone to natural disasters, or properties with significant structural issues, may not be eligible for standard homeowners insurance policies.
Is condo insurance the same as homeowners insurance?
Condo insurance and homeowners insurance are similar but tailored to different types of properties. Condo insurance typically covers the interior structure of the unit and personal belongings, while homeowners insurance covers both the structure and belongings of the entire house.
Who has the cheapest homeowners insurance?
The cheapest homeowners insurance provider can vary depending on factors such as location, home value, coverage needs, and eligibility criteria. It’s essential to shop around and compare quotes from multiple insurers to find the most affordable option for your specific situation.
Why has homeowners insurance gone up so much?
Homeowners insurance premiums can increase due to various factors, including increased risk of natural disasters, rising construction costs, higher claims frequency or severity, changes in insurance regulations, and inflation.
Which homeowners insurance company has the highest customer satisfaction?
Several companies, including Amica Mutual, USAA, and Erie Insurance, often receive high ratings for customer satisfaction in homeowners insurance surveys conducted by organizations like J.D. Power and Consumer Reports.
Who is the most expensive homeowners insurance?
The most expensive homeowners insurance providers can vary depending on factors such as location, coverage needs, and individual circumstances. Typically, companies offering extensive coverage options or specializing in high-risk properties may have higher premiums.
What is the average price for homeowners insurance in RI?
The average price for homeowners insurance in Rhode Island can vary depending on factors such as location, home value, coverage limits, and insurance company. However, as of recent data, the average annual premium for homeowners insurance in Rhode Island is around $1,100 to $1,400.
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Kalyn Johnson
Insurance Claims Support & Sr. Adjuster
Kalyn grew up in an insurance family with a grandfather, aunt, and uncle leading successful careers as insurance agents. She soon found she has similar interests and followed in their footsteps. After spending about ten years working in the insurance industry as both an appraiser dispatcher and a senior property claims adjuster, she decided to combine her years of insurance experience with another...
Insurance Claims Support & Sr. Adjuster
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.