This Anchor Insurance review will look at how the company compares to other insurance carriers – Kin in particular. We’ll explore real customer reviews and average premiums so you can decide who is the best Florida home insurance company.
Anchor Insurance offers homeowners insurance in 12 states, mostly along the southern border of the United States. It has 0.59 percent of the Florida homeowners insurance market share. Along with home insurance, the company offers condo, renters, dwelling fire insurance, and more. Anchor Insurance has M, Moderate, rating from Demotech. In early 2020, reports noted the company may be acquired by larger, more solvent insurance carriers.
Anchor Insurance doesn’t have reviews on Google, Clearsurance, or Trustpilot like many other insurance carriers. It does have an A+ rating from the Better Business Bureau where it also has 16 reviews and an average score of 1.5 stars. Reviews are critical of the claims experience after storms and a lack of technological proficiency.
We have hundreds of customer reviews on both Google and Trustpilot, and they’re overwhelmingly positive. We maintain a 4.8 average rating on Trustpilot with more than 800 reviews. We also encourages customers to leave reviews so we can see where we shine and where we can improve.
Our customers consistently mention our professionalism and expertise. They also cite saving money and having a good claims experience. For us, these reviews demonstrate the hard work we put into training our team and creating a culture of problem solvers.
Bottom line: Customer reviews show whether an insurance company lives up to its promises.
From the data we could access, Anchor Insurance homeowners insurance premiums are $1,554 a year for a $300,000 newly built home. Ours is $1,354 a year, about 14 percent cheaper.
Keep in mind that Anchor’s financial stability rating is only an M from Demotech, compared to our A rating.
It’s also worth remembering that average prices are for illustrative purposes only. To know what you’ll pay for home insurance, you need to get a quote. This will accurately reflect all the factors that play into your policy’s price, like your home’s location and age, your claims history, and more. It will also account for the additional discounts you may qualify for.
Anchor Insurance’s one-star reviews are mostly about claims, but we don’t have enough visibility into their claims process to analyze it.
But we can weigh in on ours. We use technology to speed up claims adjusting and assessment. We keep our policyholders informed on the status of their claims at all times. And we make sure getting homes back to normal is top priority. Our Managed Repair Network connects policyholders with vetted, licensed, and insured service providers.
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