[Avondale15]

We need to get property insurance for our Naples condo. I've contacted several agents and got some quotes. Reading reviews on Google makes me hate all of the companies already. I realize that people who write the reviews are mostly dissatisfied with the service, and it still is the a valuable tool, but I'd like to hear from those familiar with the following companies:

1. Universal Property and Casualty
2. Edison
3. Florida Peninsula
4. Cypress

Any advice would be appreciated.

[sinatras]

Originally Posted by Avondale15

We need to get property insurance for our Naples condo. I've contacted several agents and got some quotes. Reading reviews on Google makes me hate all of the companies already. I realize that people who write the reviews are mostly dissatisfied with the service, and it still is the a valuable tool, but I'd like to hear from those familiar with the following companies:

1. Universal Property and Casualty
2. Edison
3. Florida Peninsula
4. Cypress

Any advice would be appreciated.

I have Florida Peninsula on all my properties and they have been fine as long as you enjoy your premium going up 2k a year.

[beach43ofus]

Be sure to ask them if they iclude "wind driven rain", & if not, ask if they sell that coverage.

I was told by my insurance broker that is important here, & most insurance companies use that excuse, not to pay claims.

At the time, she said Olympus was the only one she knew of that included it in ll their policies, & she had Olympus herelf, so I've been w/ them for ~5.5 yrs..

I never had a claim though, and that's when you really find out if you have a good insruance company...or not.

Its easy to find out how insurance companies rate on their finances, but I've never seen any ratings by how fast & well they handle claims...I suppose the industry doesn't want us to have that info.

[Avondale15]

The agent told me all the policies include wind-driven rain.



Consumer Reports does rate property-insurance companies, but the four options are too small to be included there, except Universal. It's the biggest of the lot, it seems, but it's rated dead last in CR ratings -- the worst in every respect. That's why I am asking about these companies.

[Travelassie]

Our homeowner's policy looks to be as complete as I've seen. It's with a company called Monarch National. They're a fairly new kid on the block,,I think- our policy was transferred to them when our former insurance company ( Federated National, with whom we never had a claim) got out of the insurance business, at least in FL, just before hurricane Ian. Monarch paid our claims from Ian damages fairly, and within a reasonable length of time, and the majority of the damage could be attributed to "wind driven water", I guess. The costliest damage to us was from winds blowing off shingles down to the plywood, and resulting intrusion of water through the roof from the blinding rains, through the ceilings and down into the living area. This necessitated mold mitigation, tear out and replacement of the insulation, drywall in the ceilings and a couple walls, texturing and painting the ceilings and walls in most of the house. I hate to see where we would have been if the insurance company had decided our damage was due to "wind driven water" and decided not to cover it. Actually, I can't see any excuse at all for an insurance company NOT covering it, although I guess it's possible they might try and get away with lumping it under flood insurance which they don't cover. Though the rule of thumb for flood insurance coverage is "rising water", or from storm surges.

[twowilldo]

Originally Posted by Avondale15

We need to get property insurance for our Naples condo. I've contacted several agents and got some quotes. Reading reviews on Google makes me hate all of the companies already. I realize that people who write the reviews are mostly dissatisfied with the service, and it still is the a valuable tool, but I'd like to hear from those familiar with the following companies:

1. Universal Property and Casualty
2. Edison
3. Florida Peninsula
4. Cypress

Any advice would be appreciated.

Edison and Florida Peninsula are under the same umbrella. We signed with Edison in 2018. The service on our claim after Ian was poor and they tried to pull some fast ones, can share that privately. After the initial field adjuster came out to do report, they would not communicate with us. After 2 months of complete silence, we had to hire a public adjuster just to get a response. Ended up in mediation which was just finalized in December 2023.

Feel free to message me for more info.

[Travelassie]

Originally Posted by twowilldo

Edison and Florida Peninsula are under the same umbrella. We signed with Edison in 2018. The service on our claim after Ian was poor and they tried to pull some fast ones, can share that privately. After the initial field adjuster came out to do report, they would not communicate with us. After 2 months of complete silence, we had to hire a public adjuster just to get a response. Ended up in mediation which was just finalized in December 2023.

Feel free to message me for more info.

I thought UPC declared bankruptcy after Ian?