Florida Peninsula Insurance Review & Ratings (2024)

The comprehensive guide on Florida Peninsula Insurance provides an in-depth overview of the company’s homeowners insurance offerings. Florida Peninsula offers extensive coverage, including property, liability, and a variety of optional coverages tailored to the unique risks faced by Florida homeowners, such as hurricanes.

The article details the cost of Florida Peninsula homeowners insurance, noting rates that are higher than the state average. Despite a positive BBB rating, the company receives mixed customer reviews, with complaints about policy cancellations, high rates, and denied claims.

The article also introduces potential competitors in the Florida homeowners insurance market, encouraging readers to explore other options for potentially better rates. Information on how to contact Florida Peninsula, its headquarters, and payment details is provided.

The claims process, digital tools, and customer feedback on claim resolutions are also discussed, providing a comprehensive overview for those considering Florida Peninsula for their homeowners insurance needs.

What You Should Know About Florida Peninsula Insurance Co.

Welcome to our comprehensive guide on Florida Peninsula Insurance. In this article, we will delve into the key aspects of Florida Peninsula Insurance, including coverage options, pricing, customer reviews, and claims handling. If you’re a Florida homeowner looking for reliable insurance, you’ve come to the right place.

Florida Peninsula Insurance Co. Insurance Coverage Options

Florida Peninsula homeowners insurance is a comprehensive policy that includes all of the basics of a typical homeowners insurance policy plus lots of additional coverages. Each policy has property coverage that covers your dwelling and other structures (such as sheds and fences), personal property (such as furniture and clothing), and loss of use to cover living expenses.

The liability portion of the policy includes personal liability in case someone is injured on your property or you damage someone else’s property, as well as medical expense coverage for those who may be injured on your property.

Each policy comes with two different deductibles — a standard deductible and a hurricane deductible. Policyholders can choose between a $500, $1,000, or $2,500 standard deductible, which does not apply to hurricane damage. Hurricane deductibles can be either 2%, 5%, or 10% of the dwelling coverage limit.

Florida Peninsula’s optional coverages include:

• Animal liability
• Personal property replacement cost
• Special increased limits
• Permitted incidental occupancy
• Earthquake coverage
• Scheduled personal property
• Golf cart coverage
• Screened enclosure, carport, and awning coverage
• Identity theft coverage
• Jewelry and furs increased limits
• Limited fungi, wet or dry rot, yeast, or bacteria increased limits
• Silverware increased limits
• Sinkhole coverage
• Loss assessment increased limits
• Water backup and sump overflow
• Ordinance or law coverage
• Flood endorsement

Florida Peninsula’s homeowners insurance is available to homeowners in the state of Florida only.

Florida Peninsula Insurance Co. Insurance Rates Breakdown

The average Florida Peninsula homeowners insurance is higher than other companies. A policy for a $300,000 home could cost around $2,557 per year. To give you an idea of how these rates compare, take a look at the average annual homeowners insurance rates by state:

Average Annual Homeowners Insurance Rates by State

As you can see in the table above, the average rate for homeowners insurance in Florida is $1,951 per year. However, as a regional provider of home insurance, Florida Peninsula Insurance Company does not provide competitive rates.

Florida Peninsula Insurance Co. Discounts Available

Florida Peninsula Insurance Company may offer various discounts to homeowners to help them save on their insurance premiums. While specific details on discounts may not be explicitly mentioned in the provided article, many insurance companies typically provide discounts for various factors. Here are some common discounts that homeowners may inquire about with Florida Peninsula:

• Multi-Policy Discount: Combining homeowners insurance with other policies, such as auto insurance, may qualify you for a multi-policy discount.
• Security System Discount: Installing security systems, such as burglar alarms or monitored fire alarms, may make you eligible for a discount.
• Claims-Free Discount: Maintaining a claims-free history with the insurance company may lead to a discount on your premiums.
• Home Safety Features Discount: Implementing safety features in your home, such as storm shutters, impact-resistant windows, or a sturdy roof, might result in premium discounts.
• Age of Home Discount: Some insurance companies offer discounts based on the age of the insured home. Newer homes or recently renovated homes may qualify for lower rates.
• Retiree Discount: Retirees may be eligible for discounts on their homeowners insurance premiums.
• Renewal Discounts: Loyalty to the insurance company by renewing your policy may lead to discounts over time.
• Protective Devices Discount: Installing protective devices like smoke detectors, fire extinguishers, or sprinkler systems could result in premium discounts.
• Higher Deductible Discount: Opting for a higher deductible may lead to lower premiums, although it’s essential to assess the financial implications of a higher deductible.

It’s important for homeowners to inquire directly with Florida Peninsula Insurance to understand the specific discounts they offer and how these discounts can be applied to their policies. Additionally, discounts can vary, so homeowners should explore all potential ways to save on their insurance coverage.

Familiarizing Yourself With the Claims Procedure at Florida Peninsula Insurance

Ease of Filing a Claim

Florida Peninsula Insurance offers multiple methods for policyholders to file claims. You can conveniently file a claim through their online portal, over the phone, or even through mobile apps for added flexibility and ease of use.

Average Claim Processing Time

The average claim processing time can vary depending on the nature and complexity of the claim. Florida Peninsula Insurance aims to streamline the claims process and typically endeavors to process claims in a timely manner. However, specific processing times may vary, and it’s advisable to reach out to their customer service for more precise information regarding your claim.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback plays a crucial role in assessing an insurance company’s performance. While Florida Peninsula Insurance has a positive BBB rating, customer reviews online indicate mixed sentiments. Some policyholders have expressed satisfaction with their claim resolutions, while others have reported issues with claim denials and high rates.

It’s recommended to consider both positive and negative feedback from customers when evaluating their claim handling.

Florida Peninsula Insurance’s Digital and Technological Breakthroughs

Mobile App Features and Functionality

Florida Peninsula Insurance offers a mobile app that provides policyholders with convenient access to their insurance information. The app may include features like policy management, claims filing, bill payment, and access to digital insurance documents. The specific features and functionality may vary, so it’s recommended to explore the app to see how it can simplify your insurance experience.

Online Account Management Capabilities

Policyholders can manage their insurance policies and accounts online through the Florida Peninsula Insurance website. Online account management typically allows you to view and update policy details, make payments, track claims, and access important documents. The user interface and available features can vary, so it’s advisable to explore the online portal to fully utilize these capabilities.

Digital Tools and Resources

In addition to mobile apps and online account management, Florida Peninsula Insurance may offer digital tools and resources to assist policyholders in understanding their coverage, assessing risks, and making informed decisions. These resources can include educational materials, calculators, and interactive tools to help you navigate the insurance process more effectively.

How Florida Peninsula Insurance Co. Ranks Among Providers

When considering homeowners insurance in Florida, it’s essential to explore various options to find the coverage that best suits your needs. Here, we’ll introduce and discuss some of the main competitors of Florida Peninsula Insurance, offering insights into their coverage, pricing, and customer satisfaction.

• Universal Property & Casualty Insurance Company: Universal Property & Casualty Insurance Company is a major player in the Florida homeowners insurance market. Known for its wide range of coverage options, including property, liability, and optional coverages, Universal Property aims to cater to the unique needs of Florida homeowners, especially in hurricane-prone areas.
• Citizens Property Insurance Corporation: As a government-created insurer of last resort, Citizens Property Insurance Corporation plays a significant role in providing coverage to Florida homeowners who may face challenges obtaining insurance in the private market. It offers basic coverage but is crucial for those in high-risk areas.
• Security First Insurance Company: Security First Insurance Company is another prominent competitor in the Florida homeowners insurance landscape. With a focus on innovation and customer satisfaction, Security First offers various coverage options and has gained recognition for its digital tools and efficient claims processing.
• Tower Hill Insurance Group: Tower Hill Insurance Group is a well-established insurance provider in Florida, offering a range of coverage options for homeowners. With a focus on personalized service, Tower Hill aims to meet the specific needs of Florida residents, including protection against hurricanes and other risks.
• Heritage Property & Casualty Insurance Company: Heritage Property & Casualty Insurance Company is known for its commitment to providing comprehensive coverage to Florida homeowners. With a focus on risk mitigation and tailored solutions, Heritage aims to protect policyholders from various perils, including hurricanes and other natural disasters.

Exploring these competitors alongside Florida Peninsula Insurance will empower homeowners to make informed decisions based on their unique requirements, preferences, and budget constraints. It’s advisable to compare coverage options, customer reviews, and pricing to find the insurance provider that best aligns with your needs.

How is the Florida Peninsula homeowners insurance company rated?

Florida Peninsula Insurance Company has a BBB rating of A+. However, after 20 reviews, it only has a 1 out of 5 star rating.

In 2020, Florida Peninsula was ranked one of A.M. Best’s top homeowners insurers based on premiums written in 2019. However, there is no Florida Peninsula insurance rating from A.M. Best that indicates the company’s financial strength.

Florida Peninsula’s NAIC complaint index is 0.90. Compared to the national average of 1.00, this means that Florida Peninsula receives only 90% of the complaints that are expected for a company of its size.

However, customer reviews online share negative stories about Florida Peninsula’s services. Many customers complain of Florida Peninsula canceling their policies either without notice or for seemingly small issues (such as an “unfenced hot tub” that was actually a small kid’s pool filled with water for the afternoon or a canceled claim with a previous insurer who never had to pay). Other complaints include high rates, increasing rates, or denied claims.

How can I contact Florida Peninsula Insurance Company?

The Florida Peninsula Insurance Company’s website is www.floridapeninsula.com. You can manage most of your policy by logging onto your online account.

The Florida Peninsula customer service phone number is (877) 229-2244 and the customer fax is (866) 923-2926.

Florida Peninsula’s headquarters is located at 903 NW 65 Street, Suite 200, Boca Raton, FL 33487. Payments can be sent to P.O. Box 733996, Dallas, TX 75373. Policy correspondence can be sent to P.O. Box 20207, Lehigh Valley, PA 18002.

Should I buy Florida Peninsula homeowners insurance?

Florida Peninsula Insurance Company prides itself on being able to provide homeowners insurance to Florida. It does its best to understand the risks specific to Florida homeowners, such as hurricanes. However, it doesn’t have the reputation of some larger companies, and its words and actions may not accurately express its love of Florida.

For example, having addresses in Texas and Pennsylvania have raised some policyholders’ suspicions about where the company is truly located. In addition, other customer complaints indicate a gap in customer service and claims processing.

Finally, you may be able to find another insurance company that can offer you lower rates for similar coverage. If you’re unable to find affordable Florida Peninsula homeowners insurance, enter your ZIP code into our free quote comparison tool below.

Florida Peninsula Insurance: Top Ratings and Reviews