Florida Specialty Insurance Company was founded in 1997. It is one of the leading insurance companies in the state. The insurer has an A rating for financial stability from Demotech. The company provides a plethora of insurance policies not limited to owner-occupied homes, condos and rental properties. Florida Specialty Insurance is now also the insurer for all policyholders of Mount Beacon.
History of Florida Specialty Insurance
The company has been offering various types of insurance policies for over two decades. It is known for its reliable customer service and its commitment to honoring the claims. It is rightly referred to as a partner for life. The insurer has agents all across the state of Florida. Registered as Florida Specialty Holdings, Inc. the insurer has recently acquired Safeway Property. With its acquisitions over the years, the insurer has written around thirty million dollars worth of homeowners insurance products covering HO-3 and HO-6 as well as manufactured homes. It has a ratio of gross written premium vis-à-vis surplus pegged at 1.15:1.
The insurance company has a customer service department working twenty-four hours a day through seven days a week without any exception throughout the year. The customer service department has claims adjusters and other personnel. The contact number of the insurer is (866) 554-5896. Those insured can write to [email protected] There is a different department for flood program claims. The phone number of this department is (800) 725-9472. Those insured under such policies can write to [email protected]
Products of Florida Specialty Insurance
The insurance products are categorized for homeowners, condominiums, rental properties, manufactured home, identity theft, equipment breakdown, property replacement, flood program, golf cart coverage, and optional coverage. Homeowners insurance is the most popular product of the insurer. It has HO-3 policies to address the distinct needs of homeowners in the state of Florida. This type of policy is relevant for townhouses or single family dwellings. The coverage usually includes housing and personal property. There is coverage for additional living expenditure. This is necessary if a house is damaged and needs repairing during which time a family might have to seek temporary accommodation. This type of policy also provides coverage for personal liability and medical payments.
Owners of a condominium can explore policies that meet their unique needs. Such policies typically cover the condominium as a unit, personal property, and betterments, guest medical payments and liability. The scope of coverage and other relevant terms shall be influenced or determined on the basis of how long a resident occupies the property in a year. Those that are occupied throughout the year have different terms from the condominiums that are used seasonally or as a second home. Both homeowners and condominium insurances can have optional coverage that can include personal belongings including valuables. These can include electronics, jewelry, appliances, money or cash, securities, computers, and other valuable items. The coverage can be expanded to include protection against identity theft.
The scope of optional coverage is quite vast and those who need to protect their expensive equipment and other personal properties can find relevant policies from Florida Specialty. Policies can be customized on the basis of the type of property, the lifestyle, affordability of course and other relevant factors. There are provisions to get coverage for physical damage as well as liability for golf carts, special installations for hurricanes and dog liability. The insurer has discounts applicable on premiums if buildings are more secured, if protective devices are installed and if the construction adheres to the latest building code. Agents representing the insurance company can conduct an inspection and suggest the best policy or recommend changes that can make a house and hence the insurer eligible for the discounts on premiums.
Rental property insurance from Florida Specialty has a dwelling fire program. This provides comprehensive coverage for rental properties including condominiums. The dwelling fire program or policy offers coverage against loss of personal property or damage caused to the dwelling by fire. There is fair rental value, protection against certain liabilities and coverage for additional living expenses. This type of policy is often known as landlord insurance or rental property insurance. The policy is basically a dwelling fire program. It provides coverage or protection in cases of named perils. The named perils are lightning, windstorm, and fire. Such a policy can compensate for the loss of rental income for landlords or property owners.
There is a plethora of enhancements, thus providing more options for those seeking additional coverage or protection against specific perils. The type of coverage varies depending on the dwelling, scope of terms of the policy and the threshold for every kind of liability. More inclusive policies can provide coverage for a breakdown of equipment, perhaps due to rot or weather conditions among other factors. Manufactured home insurance provides coverage for the dwelling along with carports, attachments and other rooms that may or may not be connected to the primary property or main building. There is personal liability coverage, protection against loss of valuables unless exempted and compensation for medical expenses.
As with other homeowners insurance policies from different insurers, expanded coverage which is often referred to as optional can include every item that is declared by the homeowner. Expanded coverage can protect the value of jewelry, major installations and other expensive items in a house, condo or rental property. These protected valuables can be damaged or there can be a complete loss. The scope of the coverage shall determine to the extent which the insured can recoup the loss. Identity theft and other risks can also be covered with relevant policy and coverage.
Florida Specialty Holdings, Inc. has some of the most expansive policies with more than adequate coverage for residents in the state. There are agents and partners based throughout Florida. The insurer offers free quotes. The online interface provides all the provisions to report any type of problem, whether it is about a policy or the first notification that will lead to a claim. The claims process is lucidly explained by the insurer. The claims adjusters are only a phone call or email away.