This Prepared Insurance review offers insight into how the company operates and performs compared to other Florida home insurance carriers. We'll look at third-party reviews, complaint information maintained by the National Association of Insurance Commissioners, and average premium data so you can decide who is truly the best home insurance company in Florida.
Prepared Insurance Company has an A, Exceptional rating from Demotech and has about 0.62 percent of the state’s homeowners insurance market share. The company offers homeowners, condo, renters, flood, and dwelling fire insurance to Floridians. The company has been around since 2009, and so has helped customers through several hurricane seasons.
If a company doesn’t solicit reviews, they often have more negative responses. After all, folks are more inclined to write a review when they are upset. It’s less likely for customers to volunteer good experiences.
Prepared Insurance Company only has 31 reviews on Google, which suggest that they don’t actively seek reviews for their services. They have a middle-of-the-road rating, sitting at 3.3 stars. Of the positive reviews, one notable five-star rating came after Hurricane Irma where the initial damage estimate was 25 percent less than the actual damage. Prepared worked with the adjuster to make sure the client was taken care of.
On the flip side, other upset customers found the underwriting process long and frustrating. One customer has a service dog that was disclosed upfront, the policy written, and then the policy canceled because of the dog. Another customer had a policy written through escrow. The company was difficult to get ahold of and kept requesting information for months after the policy was in force, ultimately canceling it due to underwriting issues.
To their credit, Prepared Insurance Company responds to recent negative reviews in an effort to learn how they can amend the situation.
Kin actively solicits reviews because it is a valuable barometer of how we're doing. Kin's customer reviews average of 4.8 stars on Trustpilot based on nearly 800 reviews.
Our reviews overwhelmingly note our professionalism, expertise, and kindness. Other reviewers cite how much money they saved by switching to us. Kin also responds to every less-than-perfect review in an effort to learn more, find ways to help, and improve our processes.
Bottom line: Checking in on customers is the only way to learn, improve, and continue to exceed expectations.
The National Association of Insurance Commissioners (NAIC) maintains a Complaint Index that represents a company's complaints and market share. This allows consumers to objectively compare complaint ratios.
The median score is 1. A company with this Complaint Index score has the expected number of complaints for its market share. A company with a score of 2 has twice the expected complaints.
Prepared Insurance Company's score is 3.72. That's nearly four times the complaints expected for a company of its size. In 2019, it had 22 complaints and $62 million in premium. In 2018, the company had 30 complaints and $59 million in premium. In 2017, the company had 13 complaints and $51 million in premium.
Kin, by contrast, has a score of 0, far below the median score and the scores of most Florida insurers.
Florida homeowners insurance premiums are higher than almost every other state. You can see how it compares to average national insurance costs here. That's because the state is exposed to catastrophic storms on a yearly basis, and those storms are getting stronger and more frequent.
Prepared Insurance Company's average yearly premium is $1,779 a year for a $300,000 newly built home. Ours is $1,354 a year, about is 31 percent cheaper.
Average Annual Premium Comparison
Value of Home
Prepared Insurance Company
|$300k New Build||$1,354||$1,779|
Average prices may not reflect your home’s actual premium, which may be higher or lower depending on your home’s location, square footage, construction, and claims history. Plus, hurricane insurance is part of every Kin homeowners policy.
How a company handles claims speaks volumes. It's the reason folks even have insurance – so they are protected in a claim.
Prepared Insurance reviews don't mention many claims – most are focused on underwriting and service. The Complaint Index is high, but the complaints it's based on aren't available to the public.
We can speak to our claims philosophy, though. We are easy to reach and ready to provide or find an answer to your questions. We check in with policyholders after a major disaster, even if they haven't experienced a loss. If they have, we can get a jumpstart on processing the damage.
We rely on technology to streamline claims. Often, we can inspect damage before we can get boots on the ground and are able to process claims faster because of it.
Lastly, we created our Managed Repair Network to help homeowners get repairs done quickly and professionally. When you opt in for this protection, we help connect you with licensed, insured, and local contractors who specialize in the work you need done.
If you are looking for an insurance company that cares, give us a call and see what we're about.
Get a better look at how Kin compares to other Florida home insurance companies:
Don't settle for second best. Get a quote from Kin today!