This Southern Fidelity Insurance review is intended to help you make informed decisions in your hunt for the best Florida home insurance. We'll look at customer reviews, complaint scores, and premiums to give an objective impression of how Southern Fidelity fares when it comes to customer experience.
Southern Fidelity Insurance was founded in 2005 and works with a series of independent agents in Panhandle states prone to hurricanes. It offers homeowners, condo, renters, flood, umbrella, and equipment breakdown coverage. The company has less than one percent of the Florida market share (0.81 percent) and has an A, Exceptional, rating from Demotech.
Southern Fidelity Insurance doesn’t have a lot of customer reviews – only 19 on Clearsurance with an average rating of 2.96. Thirty percent of the reviews give a one-star (poor) rating.
Reviews are sporadic – some are even years apart. Because consumers typically head to review sites when something is wrong, this could be a reassuring sign. It also mean few consumers are impressed enough to leave a review otherwise.
Poor reviews cite bad service and claims experiences. The most prominent claims problems seem to deal with water damage. One customer, a single mom dealing with roof damage after Hurricane Irma, noted the company claimed the wind wasn’t strong enough to qualify for a claim. On the other hand, positive reviews cite great service with quick claims processing.
By contrast, we encourage customers to leave honest reviews. We want to learn from their experiences, both good and bad. Of the more than 750 customer reviews, our customers overwhelmingly give us five-stars. Our average rating is 4.8 on Trustpilot, with most policyholders citing an easy buying and claims process.
Bottom line: Encouraging customers to leave honest reviews demonstrates transparency.
The National Association of Insurance Commissioners’ (NAIC) Complaint Index is a way for consumers to see if a company receives an abnormal amount of complaints. The index establishes a ratio based on the company's market share and complaint numbers. This number is compared against the national median of 1.
A score of 1 indicates complaints are in line with what's expected for a company of its size. A score of 2 means a company receives twice as many complaints as you would expect. Anything below one is a positive sign, indicating that the company has fewer-than-expected complaints.
Southern Fidelity Insurance had 40 complaints and $126 million in premium in 2019. It has a complaint score of 3.33 – more than three times the expected number for a company of its size. Its 2018 Complaint Index was 3.95, an improvement from 2017's score of 5.86. It appears Southern Fidelity Insurance is working to reduce the number of complaints.
By contrast, Kin's complaint score is 0, far below the national median and most other Florida insurers.
Florida homeowners pay some of the highest home insurance premiums in the nation, and rates are only projected to keep increasing as storms get more frequent and severe each year. It's important for homeowners to save money on their coverage without sacrificing coverage for hurricane winds and more.
Southern Fidelity Insurance's average premium for a newly built home valued at $300,000 is $3,039 a year. That's about 46 percent more expensive than Kin's average of $2,083. That's nearly $1,000 more each year.
Average Annual Premium Comparison
|Value of Home||Kin Insurance||Southern Fidelity Insurance|
|$300k New Build||$2,083||$3,039|
Averages are helpful, but to really see how much your home insurance will cost, get a quote. It's the only way to crunch all the variables that impact your home's rate.
The claims process says everything about an insurance company. You can be the greatest at servicing policies, but if you don’t live up to expectations during a claim, you aren’t fulfilling the promise of the policy.
Based on Southern Fidelity's customer reviews and complaints, it's not clear how the claims process is overall. Some negative reviews cite bad claims experiences, but it's not enough to get a sense of trend versus outlier experiences. Plus, the company's Complaint Index is improving, suggesting improvements in the claims process.
What we do know for sure is how we approach claims: with transparency, speed, and ease. We keep you informed from the first notice of loss to settlement and repair. Plus, we leverage technology and virtual inspections to speed things up.
We also offer our Managed Repair Network to connect policyholders with licensed, insured, and local contractors who are vetted for their professionalism and quality of work. You still call all the shots in how the work is done.
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