- Many optional coverages to add onto a homeowners insurance policy
- Very financially stable with a good future outlook
- A good option if you have a home built in 2011 or newer
- Offers flood policies
- Only serves the state of Florida
- Does not insure older homes
- Unknown information regarding discounts
- Poor claims handling
- Customer service dissatisfaction
When shopping for homeowners insurance, you want to make sure you are getting the best coverage possible for your home. This will allow you to be protected from a variety of risks while having the option to customize your coverage. Southern Oak is an insurer that serves the state of Florida and is well-known for its coverage options. They offer policies for owned homes, rental properties, condos, apartments, and have a range of additional options to further protect your dwelling.
Types of Southern Oak homeowners insurance coverage
Choosing Southern Oak means you are protecting your home, other structures, personal property, and additional living expenses if you must temporarily relocate. They offer standard homeowners insurance policies and a wide array of customizations that can be added on.
Although they are a newer company, they have quickly built a positive reputation in the industry because of the protection they offer. Florida residents are exposed to many different risks due to living near the water, but Southern Oak aims to insure homes located in a variety of areas.
When visiting the Southern Oak website, you can get an instant quote online. They ask about the age of your home, and it appears they are only willing to insure newer homes that were built in 2011 or newer.
If your home is newer, it appears that Southern Oak is a good choice. However, if you have an older home, they have resources available that will allow you to find a licensed agent in your area that can work with you to find other insurance.
Southern Oak home insurance discounts
Little is known about any discounts that Southern Oak has to offer its policyholders. There are no discounts listed online, but more information can likely be discovered when you request a quote through their website.
Because they do not advertise discounts, it is likely that the rate you get when you sign with Southern Oak is what you will expect to pay. They lean towards advertising their additional coverages instead of ways to save money.
Additional coverages from Southern Oak
When you purchase a homeowners policy through Southern Oaks, you are given a list of optional coverages you can add to your policy. These are some of the examples included on their website:
- Identity theft
- Scheduled personal property
- Golf cart
- Animal liability
- Sewer and drains back-up
- Screened hurricane enclosure coverage
- Sinkhole coverage
- Flood coverage
These are very helpful options when living in Florida. They have a wide range of optional selections, which makes your homeowners insurance policy through Southern Oak very customizable.
Of these optional coverages, it is noted that Southern Oak writes flood policies. This helps you by allowing you to only need one insurer if you are interested in getting the coverage. It is a common request from those living in Florida because of all the flooding risks.
Southern Oak homeowners insurance premiums
There is not enough data to estimate the Southern Oak premiums. However, since Southern Oak specializes in insuring newer homes, it is sensible to take a look at the average premium of a newer home worth $300,000 in Florida. In 2023, it sits right around $2,500 annually.
This price will fluctuate depending on how much your home is worth and how new it is, but this average rate will give you an idea of what you might expect to pay when you choose Southern Oak.
Depending on the additional coverages you choose and other policies they are able to write, this will also impact your premium. Keeping this in mind will prepare you for the total cost of a homeowners insurance policy through them.
When compared to other companies, Southern Oak is known for being about average or slightly more expensive. This is likely because they are geared toward insuring newer homes.
Southern Oak home insurance claims
When it comes to filing a claim with Southern Oak, the customer reviews are mixed. Some have received their payouts on time and are very happy with the experience. Other customers have found it difficult to communicate with the company once a claim has been filed. Getting information about the claim and finally receiving the payment seems to take a long time.
Many customers have reported in their reviews that they had positive claim experiences after having their homes damaged by Hurricane Irma and several other hurricanes. They were able to get the funds they needed from Southern Oak on time to repair their homes. Customers were able to receive support during and after the hurricane, with Southern Oak reaching out to offer help. These reviews highlight the positive experiences many clients have with Southern Oak during the claims process.
On the other hand, the negative reviews warn that you might not be getting the policy you think you are getting when you sign up with Southern Oak. There are multiple occasions of problems occurring after getting policies in place and needing to file claims.
Southern Oak homeowners insurance customer service
Having an insurer you can rely on is important. This is why it is necessary to take a look at the company’s track history with customer service. There are mixed reviews online left by current and past customers, but they mainly lean in a positive direction. As of March 2023, Southern Oak has received 4.3 stars from 498 Google reviews.
Some have had no issues with the company and have been with them for years. They state their problems are taken care of efficiently and without any burdens. There are others that argue the staff is unprofessional and unhelpful at times.
There are some customers who have had to switch companies or had their insurance canceled after a period of time. This left them in a tough spot because they thought Southern Oak was going to provide them with a great policy.
It seems they have a handle on basic customer service requests as a whole, with many customers praising the way Southern Oak handles tough situations. Their overall reviews contain many people saying that the company is easy to work with.
Southern Oak’s Financial Strength
Learning about the financial strength of an insurance company is important, especially with a newer company like Southern Oak. This will show you the likelihood of your claim being paid in case you need to file one.
BBB
Southern Oak takes pride in their financial strength as a company. They make it a point to highlight their BBB rating directly on their website. Southern Oak currently holds an A+ rating and has been accredited since 2016.
Demotech
They also advertise their rating on Demotech, another business rating service. Southern Oak has received an Exceptional A rating through this rating agency. It appears they have been consistently financially stable since they have been operating.
AM Best
While Southern Oak does not appear to have a rating on AM Best, there are articles stating that the company has been approved to take out tens of thousands of policies for citizens. This showcases their financial stability and willingness to provide coverage.
The Verdict
Southern Oak is a Florida-based insurer that provides a variety of homeowners insurance products. They make it a point to offer customizable coverage, so you are able to protect your home exactly how you need to.
Living in Florida comes with the risk of experiencing flooding, so Southern Oak makes it known that they offer flood policies that can be purchased in addition to homeowners insurance policies. They also offer endorsements that cover sewer back-up and sinkhole coverage.
It is unclear if Southern Oak offers discounts like many competitors do. There is no information about discounts listed on their website, but it is likely you can find out more once you request a quote through the online portal.
Customers have mixed reviews when it comes to the professionalism and helpfulness of the Southern Oak staff. Some have no complaints and have been with the company for years, while others warn potential customers to steer clear of the insurer.
A lot of people appear to have issues with Southern Oak when it comes to filing claims. There are complaints that the company is not easy to communicate with when you are seeking information about a claim you have filed. Others have also complained about not receiving timely payments.
As a company, Southern Oak appears to be very financially stable. It is known that they work hard to make sure they are able to provide policies for their customers in the area. Although, they only choose to insure homes that were built in 2011 or newer.
They have a lot to offer and appear to be a good choice initially with average premiums, but the difficulty when it comes to communication and receiving claims payments is definitely a factor to keep in mind.
