In 2013, Safepoint became one of the newest home insurance companies in the Florida market. Their company grew quickly because of the policies they took over from Citizens Insurance, which removed a large number of policies during the same time period to other insurers through a takeout process.
The company expanded its services and now offers insurance in Louisiana, Texas, and New Jersey. They advertise themselves as a company with a special understanding of the needs of coastal states. They have also added commercial insurance to their product lineup; currently, that is the only line of business sold in New Jersey.
Their headquarters are located in Tampa, Florida and write home insurance as well as business insurance in three states. Coverage may vary from state to state. We’re unable to get the coverage on each state because when you go into their website and try to navigate on each state, the payment option is the only option shown on the page.
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They claim to have exceptional claims service. Is this true?
Sort of. They only have a basic overview of the claims process for their policyholders. You can report a claim through their website or call a toll-free number which is available 24/7. There is an approved contractor database on the website to choose your own contractor for repairs.
You may think that, yes, this is quite convenient and exceptional. However, based on the reviews we’ve gathered, there’s a lot of complaints about how they handle claims. They’re quite disappointed about Safepoint’s claims process wherein once a customer files a claim, the company will send an adjuster and an engineer to inspect the damages, then they will decline the customer’s claim. A lot of complaints are about this, which is quite alarming.
When it comes to their rates, you will not get any information unless you’ll click your location, put in your debit/credit number, and make a payment. Their quotes are only available through agents.
It is hard to make a solid form of opinion for a company that doesn’t provide enough information about what they’re selling, what their discounts are, and more. This may be a good insurance option for you if you’re in the Citizen’s Takeout process or if you’re having trouble finding coverage because you’re living in the coastal area.
They are still a fairly new company, that is why it’s not really surprising to question their reputation. What we recommend is to research further about the company and not just rely on one or two reviews you’ll see on websites.
Home Insurance Products
Safepoint writes several types of home insurance. They only provide a basic overview of each if you look into their website.
Homeowners insurance is available for owner-occupied homes and is a package policy covering the dwelling, personal property, and liability, along with other coverage either standard or as an endorsement.
Home Insurance Discounts
There are no discounts listed on their website. It’s better to call the company directly to know what their discounts are because their website lacks information about what they’re offering.
Safepoint is not included in the J.D. Power 2018 U.S. Home Insurance Study, unlike State Farm, Geico, and All-State.
When it comes to their financial strength, A.M. Best gave the company a B or Fair rating. Their rating from A.M Best is much lower compared to other home insurance companies.
In Clearsurance, positive reviews are greater than negative ones. Positive reviews say that they’re pleased with Safepoint’s service and rates.
You might think that this isn’t alarming. However, the customers that gave reviews in Clearsurance are only 3 people and these aren’t enough basis to rate them in a perfect score. 33% gave a 1-star rating and they say that Safepoint didn’t pay the filed claims of their customers.
We’ve gathered some other reviews to further know Safepoint and there’s a lot of negative reviews given by policyholders in the Google reviews. Two customers said that their insurance got canceled due to non-payment; however, Safepoint didn’t send any paper bill or email every month that their premium is already due. Another customer said after an adjuster inspected their home, Safepoint didn’t call them anymore and didn’t resolve their claim. This just shows that you should still look for more reviews and research the company thoroughly to make sure it’s right for you.
The Pros and Cons
To wrap up our review, here are the advantages and disadvantages of Safepoint to help you decide if this company is right for you.
- You can file claims online
- If you’re living in the coastal area, it might be a good home insurance option
- They’re only operating in 4 states
- In New Jersey, commercial insurance is only available
- No online quoting available
- A lot of negative reviews about their claims process