This Heritage Insurance review takes a loot at both consumer and publicly available data to show how the company fares in customer satisfaction, pricing, and more. We'll explore both customer reviews and NAIC complaint scores to get a sense of which insurance companies are the best in Florida.
Heritage Insurance is based in Clearwater, Florida, and offers home, condo, rental property, and commercial insurance to Florida residents. A relatively small company with less than 4 percent of the Florida homeowners market share, it's publicly traded on the New York Stock Exchange and maintains an A, Exceptional rating from Demotech, Inc.
Heritage Insurance doesn't seem to be requesting much policyholder feedback, despite the fact that customer reviews demonstrate a company's real life customer service. It only has 10 reviews on Clearsurance for an average score of 3.7 stars.
Of its 10 insurance reviews, only 30 percent rate the company as excellent and 50 percent rate it as poor. Specific complaints referred to sudden cancelations without notice and non-communication after Hurricane Irma. Another complaint referenced an $800 hike in premiums and the company failed to help the policyholder cancel their previous insurance. All this created havoc with their mortgage escrow account.
By contrast, Kin has more than 734 on Trustpilot customer reviews that are overwhelming positive. More than 87 percent rate our service as 5 stars. We encourage customers to leave reviews and give an honest assessment of what worked and didn’t so we can continually improve and exceed expectations.
See how Kin and Heritage Insurance reviews compare below.
Bottom line: The best compliment is one a customer gives in public and the best testament to a company’s character is how it responds to criticism.
The National Association of Insurance Commissioners (NAIC) maintains a Complaint Index for every insurance company to track and weigh complaints. While every company would love zero complaints, that isn’t always realistic, and the index is designed to give a consumer a sense of what a "normal" amount of complaints looks like.
NAIC decided that the national index 1 is the standard complaint ratio. Anything above that is more complaints than expected. Anything below is fewer complaints than expected.
So let's say a company has a complaint score of 2. That means it has two times the expected amount of complaints for a company of its size and market share.
That said, Heritage Insurance has a complaint score of 7.9 – nearly 8 times more than what the national median and one of the higher complaint scores in Florida. Kin, meanwhile, is 0.
Heritage Insurance claims to want to make prices fair in Florida, yet reviews suggest otherwise. Customers cite unexpected rate increases in their negative reviews. While saving money on homeowners insurance is the goal of every Florida homeowner, it's not all that matters in an insurance policy. An underpriced policy that takes shortcuts on coverage doesn't help anyone.
For reference, Heritage Insurance's average premium for a $300,000 new home is $1,757. Our average premium is higher at $2,083 a year.
Average Annual Premium Comparison
|Value of Home||Kin Insurance||Heritage Insurance|
|$300k New Build||$2,083||$1,757|
The true test of any homeowners insurance carrier is how they deal with claims. When homeowners experience a loss, it is important to process claims quickly and fairly. The claims reviews for Heritage Insurance suggest its process could use some fine tuning.
One claim review states, “Heritage delays for months on a Hurricane Irma claim.” While this on its own could be considered an outlier, the fact remains that Heritage has a 7.9 complaint score, suggesting a higher-than-normal percentage of unhappy customers. The periods after a major storm are particularly important.
That's why, after a major storm, we call our customers just to check in. We think an insurance company shouldn't only be there when things are bad.
We also use technology (think: satellite images and virtual inspections) to expedite claims processing and get you back to normal faster. Plus, our Managed Repair Network pairs you with licensed, insured, and local contractors to get repair work done professionally and fast.
Ready to save and experience better service? See what we can do for you. Get a quote today.
Don't settle for second best. Get a quote from Kin today!