home insurance company review

Florida Specialty Insurance Review: What the Data Says

This Florida Specialty Insurance review takes a look at third-party data to help you learn about the company’s reviews, costs, and how it handles claims so you can find the best home insurance around. It’s worth noting that Florida Specialty Insurance closed on October 2, 2019

Many existing Florida Specialty policies were transferred to Citizens Property Insurance. Citizens has been around since 2002 and operates as a not-for-profit agency for those who can’t get home insurance through the private market.

Florida Specialty Insurance Customer Reviews

Florida Specialty Insurance had 44 Google Reviews before the company was liquidated, many citing problems with claims. In the weeks before closing, the company was still selling insurance policies and customers said only part of the money was refunded. 

Customers with policies automatically sent to Citizen Property Insurance might want to consider switching to Kin. We have a 4.8-star rating and 950+ reviews on Trustpilot. Our customers often note how easy it is to get insured, how robust our coverage is, and how much they saved (about $500 on average).

florida specialty review

Bottom line: Citizens isn’t your only option if you were previously with Florida Specialty. Switch to Kin and start saving on your homeowners insurance now.

Florida Specialty Insurance Complaint Score

The National Association of Insurance Commissioners (NAIC) Complaint Index is an easy way for you to compare insurance companies based on their formal complaints. The complaints are scored based on a company’s size so you can compare apples to apples.

The national median score is 1, indicating a normal number of complaints for a company’s size. If a company has a score of 2, it has twice as many complaints as you’d expect.

Because the company no longer exists, NAIC Complaint Index data isn’t available. We can say that we have a score of 0, less than the expected number of complaints for a company our size.

naic complaint index final

Florida Specialty Insurance Average Premium

While Florida Specialty Insurance is no longer selling policies and its prices are a moot point, we included them here to give a baseline comparison. Florida Specialty had competitive rates, but as you can see based on their archived price data, ours are lower still. 

For a $300,000 new home, our average is $1,354 a year. Compare that to Florida Specialty’s $1,503 a year – we’re 34 percent cheaper.

Average Annual Premium Comparison

Value of Home

Kin Insurance

Florida Specialty Insurance

$300k New Build $1,354 $1,822

Keep in mind that the only way to know what you’ll pay for your Florida home insurance is to get a quote. Your costs may vary based on your home’s location, construction, age, and safety features. Your claims history and the deductibles you choose also impact your rates.

Florida Specialty Insurance Claims

A lot of factors lead to Florida Specialty Insurance closing. Ultimately, the company didn’t have the financial reserves to handle its claims obligations. That might be why customer reviews cited problems with denied claims.

By contrast, we have an A (Exceptional) rating from Demotech, meaning we have the financial strength to pay claims, even after a widespread disaster.

Plus, we work hard to make claims fast and easy. You can file a claim online, on the phone, or over email. Our claims professionals use the latest technology, like drones and virtual inspections, to assess damage. We also have our Managed Repair Network to connect you with licensed, insured, and trusted contractors to get your repairs done quickly and professionally.

Don’t get stuck with insurance you don’t want just because Florida Speciality Insurance went under. Switch to Kin and get more coverage for less. Get a quote today.

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