Centauri Insurance is a company that specializes in hurricane insurance. They got their start in the hurricane business and through expansion, have continued to develop their hurricane coverage options to new states. They are a newer company and sometimes this can lead to consumer issues.
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Centauri is an insurance company that built themselves in Florida. They did not sell insurance in Florida due to issues with regulations and company traction until quite recently. Instead, Centauri grew by selling hurricane insurance in Hawaii to at-risk homes. After they established their customer base and hurricane coverage options, Centauri expanded into Gulf states where hurricanes were common. Centauri now sells insurance in Louisiana, Mississippi, Alabama, Florida, Hawaii, Texas, and South Carolina.
They have expanded a great deal and continue to offer quality hurricane insurance in these regions. Centauri is quite young, having begun their Hawaii expanse in 2012, so they have much room to grow and establish themselves in the insurance market. This can be an issue as they are still working out issues within their policies and their company structure. This can also be an advantage to anyone looking to join Centauri as they will continue to grow and develop their policies for better coverage in the future.
Centauri continues to focus on their hurricane coverage as they are based in states where hurricane damage is common and insurance options are in high demand. They do offer basic homeowners policies in addition to hurricane policies to help broaden their customer base. Centauri operates through independent agents across each state meaning you’ll need to go through them to find out what Centauri offers.
Financial situation – rates and claims
As Centauri is a young company that operates through independent agents, it’s rather hard to find what premiums the company offers for their policies. Each policy will be different and may be based on the circumstances of the home and policy owner. Independent agents are also subject to a commission which could lead to a heightened insurance premium. Since the company is newer, they may have higher premiums to cover the cost of expanding, but this will most likely not stay that way. As Centauri grows, they might lower their premiums or offer more discounts as they will be more financially stable.
Centauri offers your basic homeowners insurance policies to its customers which covers you and your home from potential risks and issues. Add-ons are offered to expand your coverage at the cost of higher premiums and special items can be covered by their own policy as with most insurance companies. Centauri also offers dwelling and landlord insurance for when a property is rented out to a tenant. Centauri specializes in hurricane insurance by offering customers flood, wind, and earthquake policies. These policies will be specialized to cover the states and homes where Centauri operates and will come at the expense of an added premium cost.
Claims can be filed online and only through Centauri’s website. No email or mailing option for filing claims has been set up yet which can be common for a company of Centauri’s size. To file a claim, you will need to access Centauri’s website and speak with your personal agent about the claim filing process. Once you’ve submitted a claim, Centauri will operate just as any larger insurance company operate when processing a claim. Centauri is relatively quick with their claim response time and offers decent coverage when it comes to hurricane damage.
Centauri is not certified by the Better Business Bureau and currently has a number of complaints filed against them that have gone unanswered. It appears that many customers remain unsatisfied with the work that Centauri does but that can be expected with a company this size. Most of the complaints are about lack of response to claims or about declining a claim that seemed within policy limits. No active lawsuits are on file against Centauri at this time despite the unanswered complaints.
As mentioned above, a company of this size and age is still working out all the kinks and complaints can be expected. The issue is with the lack of response to these complaints which may showcase their subpar online presence. Centauri is newer but the customers still expect decent service when it comes to the policies they offer.
Pros and cons
Centauri is a decent company if you’re searching for hurricane insurance in the states they operate in. They offer coverage for homes that are at risk of flood and wind damage and will cover you for your basic homeowners policy. They are new so expansion and growth can be expected.
Centauri does not seem to have a great reputation with its consumer base as it’s still developing and bettering their claims process. They lack in responding to complaints but as they grow this should change for the better. Centauri operates through independent insurance agents so information on their rates and claims process is attained through one of them. Centauri is developing but still has much room to grow.