- Many additional coverages offered
- Extra policies offered to protect from natural disasters
- Financially stable and positive future outlook
- Only available in Florida
- Problems with claims and customer service
- Many negative reviews
- No clear information regarding premium pricing
Edison Home Insurance is a Florida-based insurance company that offers homeowners and condo insurance exclusively to those living in the state of Florida. It was founded in 2006, which means that it has been in the business for just over 15 years now. They have a parent company called Florida Peninsula Insurance Company.
Florida is known for being prone to disasters, which is the main reason why several insurance companies put their primary focus on this state. Edison insurance company offers various homeowners insurance policies with optional add-ons in Florida. Since they are still new to the industry, this insurance company still has a lot to prove. However, are they worth a second look? Find out in this article if you should consider Edison as your new home insurance provider.
Types of Edison homeowners insurance coverage
Edison’s website provides a lot of great information about the coverage they provide. When you get a homeowners policy through Edison, you are getting protection for your home, other structures, personal property, loss of use, personal liability, and medical payments.
These are all standard with any other homeowners policy you would find elsewhere. If you are curious about each of these coverages, Edison does offer many additional details where you can take a look at the coverages individually. They appear to have a goal in mind to give the customer as much helpful information as they can.
It is helpful to know what you are paying for when you purchase homeowners insurance. Because Edison seems to be very customer-oriented, it is unlikely you will have any unanswered questions before you commit to buying a policy.
Edison additional coverages
If you want to go beyond a standard homeowners insurance policy, Edison gives you the option to do this for your home. They are known for offering additional policies such as flood insurance, equipment breakdown, and service line coverage. Both are very helpful for Florida residents.
They offer many different endorsements that can be added to a homeowners insurance policy, as well. You can get coverage for the following areas to add extra protection:
- Identity theft
- Animal liability
- Personal property with replacement cost value
- Increased coverage limits
- Permitted incidental occupancy
- Earthquake coverage
- Scheduled personal property
- Golf cart
- Screened enclosure
- Jewelry and furs
- Limited fungi
- Silverware
- Sinkhole
- Ordinance or law
These coverages are vast and could apply to many people living in the local area. Edison makes it clear to speak to an agent if you are looking for any other type of specific coverage, as they want to make people feel they are getting the best value.
Edison home insurance discounts
Edison does offer its customers discounts on their homeowners insurance policies. If you are looking to receive a lower premium, you can make sure you qualify by keeping the following details in mind.
- Hurricane protection devices are highly recommended and also rewarded through Edison. Customers who have them in place will receive savings on their policies.
- Having a new roof is another great way to save money on homeowners insurance through Edison. They offer a discount if your roof has been replaced in the last few years.
- Security devices matter to Edison. They offer customers discounts if there are security systems and home alarms in place.
These discounts are straightforward but also very easy to obtain. If you qualify for them, you can significantly reduce the rate of your homeowners insurance when you choose Edison.
Edison homeowners insurance premiums
There is no clear answer on what the average price of a homeowners policy through Edison costs, but there is a lot of information on their website to review regarding premiums. They make it clear they want to keep prices low for their customers and actively take steps to do so.
Edison also offers helpful tips to customers that can be used to further reduce premium pricing. These tips include increasing deductibles and keeping your home updated so it qualifies for discounts.
Checking numerous reviews online, we didn’t find sufficient information about Edison’s premiums. We did see many complaints that the premium went up significantly after renewal. It is important to note that the cost of homeowners insurance has gone up significantly in Florida in recent years due to numerous hurricanes that the state had to endure.
It is hard to determine how Edison compares to similar insurance companies, but customers can go online and receive a custom quote to determine how much the policy will cost. They have an online quoting tool that makes it easy to receive a quote instantly.
Edison homeowners insurance claims
You want to make sure you are taken care of in the event you must file a claim through your insurer. Reading through customer reviews, Edison does not have the best track record for handling claims. There are many negative reviews detailing customer experiences and having to wait very long to receive any financial help.
These individuals have been through hurricanes and have also experienced other significant problems with little support from Edison. Many suggest the process of actually filing a claim is simple, but after this point it gets difficult. They have reported communication is not clear or timely.
There are some positive reviews left by customers who have been in similar situations and received adequate help, but the majority of the complaints seem to revolve around the claims process. Edison does not appear to be in the best standing in this regard.
Edison’s customer service
Taking a look at Edison’s reviews regarding customer service also highlights many negative experiences. While the company seems to take pride in its ability to interact with customers on its website, others have had different experiences and issues with the company.
Some have complained about being quoted and signing up for a policy and then realizing their coverage was not in effect. They have also stated it is difficult to get in contact with anyone willing to help.
It appears Edison frequently makes errors regarding their homeowners coverage, which leaves customers in difficult situations or unable to make proper changes due to a lack of support. There are an overwhelming amount of negative reviews talking about this.
Some clients are happy with the service they received from Edison. Some have left positive reviews after successfully getting a payout from their claims. As of March 2023, Edison has earned 3.3 stars from 87 customer reviews on Google.
Edison’s financial strength
BBB
Edison holds an A+ rating through the Better Business Bureau. Over the last three years, there have been 25 closed complaints.
Demotech
Through Demotech, Edison holds an A rating. This is an exceptional rating when it comes to financial stability and appears that the company has a positive financial outlook for the future.
The verdict
Edison is a Florida-based insurance company offering a wide range of homeowners insurance products. They take pride in giving their customers plenty of information on their website and also offer an online quoting tool to receive a quote instantly.
They offer discounts that are easy to obtain, which is good for those looking to save money on a homeowners insurance policy. They are also keen on helping customers get the best deal for their money as they offer many helpful tips online.
While their coverages are extensive, they do not have a great reputation when it comes to handling claims or customer service experiences. Many people have left negative reviews about the company and suggest going elsewhere for homeowners insurance.
In terms of financial strength, Edison is in excellent standing. This is a positive factor to consider and showcases the overall ability of the company and its future outlook. It appears Edison is very stable and seems to remain on this path toward success.
Despite what Edison has to offer and how much they appear to keep its customers informed, it is clear that many are unhappy with the service being provided by Edison. This is definitely a sign to think carefully before moving forward with a homeowners insurance policy through the company.
