This Universal Insurance Company of North America review is designed to help you make informed decisions through third-party data. We'll take a look at this company's customer reviews, NAIC complaint score, average premiums, and more. That way, you can see for yourself which is truly the best home insurance company in Florida.
Universal Insurance of North America states it has three core values: listen, aim high, and lead by example. It maintains a B++ AM Best Rating and an A rating from Demotech with 0.77 percent of the Florida homeowners insurance market share. The company offers homeowners, flood, renters, condo, equipment protection, and earthquake insurance along with some commercial insurance policies.
Universal Insurance of North America is easy to get confused with other insurance companies – many have similar names. So when searching for reviews online, be mindful! This company is not accredited with the BBB but maintains an A- rating with eight total complaints in the past three years. Complaints cite mishandled claims – customers say they had to call multiple times to report the claim. Another who filed a complaint with the Department of Insurance cited multiple issues with loss of use expenses during the slow repair process.
There were repeated complaints about billing issues. The company so far has not responded to complaints in an effort to rectify the situation.
By contrast, Kin has more than 750 customer reviews on Trustpilot with an average rating of 4.8. Our customers appreciate and cite our professional and knowledgeable team, the easy of getting insured, and saving money. When we do get negative feedback, we are quick to respond and find a solution.
Bottom line: Things don’t always go right, but how a company handles miscommunications and claims issues says a lot about its integrity.
Complaints happen in insurance; it’s part of the nature of dealing with losses. The complaints that matter most are those filed with the Department of Insurance and monitored by the National Association of Insurance Commissioners (NAIC) that maintains a Complaint Index. The index measures the number of complaints in relation to a company's total premium and market share.
The NAIC national median score is 1 – anything below that means a company has have fewer complaints than expected. A score of 2 means the company has twice as many complaints as you would expect a company of its size to have.
Universal Insurance Company of North America complaints have increased over the past three years. In 2017, the Complaint Index was 4.56, and as of 2019, it's 6.92. That's almost seven times more complaints than expected for a company with this market share.
Kin, by contrast, has a score of 0, below the national median and most other Florida insurance companies.
Thanks to more frequent and more devastating hurricanes each year, Floridians face some of the highest insurance premiums in the country. And the costs keep rising as storms become more frequent and severe.
Universal Insurance Company of North America policyholders aren’t likely to get a break on premiums. For a newly constructed home valued at $300,000, their average premium is $2,739 – 34 percent higher than Kin’s average of $2,083 for the same home. That's about $650 more each year.
Average Annual Premium Comparison
Value of Home
Universal Insurance Company of North America
|$300k New Build||$2,083||$2,739|
Homeowners insurance premiums are unique to the home, so while averages are a helpful reference point, they are illustrative only. Prices vary depending on your home's location, size, construction, and more – including what coverages are (or aren't) offered. So you know: all Kin prices include hurricane insurance.
Customers expect an insurance company to handle claims in a fair and fast manner. Failing at claims is failing as an insurance company.
We don’t have much visibility into how Universal Insurance Company of North America handles claims. Some public complaints offer a glimpse, though. They've received several complaints about a subpar claims experience and unresponsiveness.
We can talk at length about how we make claims fast and fair, but we'll keep it short and sweet. We understand the importance of checking in with customers, both before and after a loss. We keep our policyholders informed through the claims process, and we rely on technology (like virtual inspections) to settle claims quickly and accurately.
Lastly, we pair our customers with local and licensed tradesmen through our Managed Repair Network to ensure repairs get done quickly and professionally.
Learn more about how Kin can help you get more coverage for less. Get a quote today.
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Don't settle for second best. Get a quote from Kin today!