Florida Peninsula Insurance Company Reviews: Coverage, Claims, and More

Florida Peninsula Insurance Company is a homeowners insurance provider based in Florida. With over 18 years in business, they offer policies like homeowners, condo, renters, and flood. Here we’ll examine Florida Peninsula’s background, customer reviews, complaint record, and more to see if they’re a good choice for home insurance.

Overview of Florida Peninsula Insurance

Florida Peninsula is headquartered in Boca Raton, FL and has operated since 2005. They are accredited with the Better Business Bureau (BBB) and hold an impressive A+ rating. The company sells policies through local independent insurance agents in Florida.

Some key facts about Florida Peninsula:

• Specialize in homeowners insurance for Florida properties
• Rated “A-” by AM Best for financial strength
• Over 320,000 policies in force statewide
• Rated “A-” by Demotech for financial stability
• Backed by Everglades Reinsurance Group

Florida Peninsula Product Offerings

Florida Peninsula Insurance offers a variety of insurance policies for home and condo owners:

Homeowners Insurance – Covers the dwelling, other structures, personal property, loss of use, personal liability, and medical payments.

Condo Insurance – Provides coverage for your condo unit, improvements/alterations, personal property, loss of use, liability, and medical payments.

Renters Insurance – Protects your personal belongings like furniture, clothes, and electronics for apartment renters or tenants.

Flood Insurance – Covers structural damage and personal property due to flooding, available through the National Flood Insurance Program.

Equipment Breakdown – Protects systems like AC, electrical, plumbing and appliances from mechanical breakdowns.

Identity Theft – Provides monitoring services, reimbursement for losses, and helps restore identity and credit if your personal information is compromised.

DP-3 – Special lower-cost policy designed for older homes rented to tenants. Limited dwelling coverage with focus on liability.

Florida Peninsula Customer Reviews

Florida Peninsula Insurance Company currently has an overall 1 out of 5 star rating based on 15 customer reviews on their website. The negative reviews focus on unsatisfactory claims experiences and policy non-renewals after filing claims.

However, reviews on other sites like Google (3.8 stars) and BBB (4 stars) are far more positive. Common compliments are good customer service, fast response times, and reasonable rates.

Here are examples of reviews from verified Florida Peninsula customers:

“I have had nothing but great experiences anytime I have had to call in to Florida Peninsula. Theresa is awesome, so friendly and helpful!”

“Florida Peninsula took great care of me and my policy after Hurricane Ian. I was assigned a knowledgeable, compassionate, responsive adjuster who carefully reviewed my claim. I am grateful for Florida Peninsula’s excellent service during a difficult time.”

“Florida Peninsula has provided great service and very competitive pricing for my homeowner’s policy. I highly recommend them for home insurance in Florida.”

While policy non-renewals are frustrating, they are sometimes unavoidable in Florida’s unpredictable property insurance market. Overall most customers seem satisfied with Florida Peninsula’s rates, customer service and claims handling.

Florida Peninsula Complaint History

According to the BBB, Florida Peninsula Insurance Company has received 18 complaints over the past 3 years, with 6 complaints in the past 12 months. This volume of complaints is average for a home insurance company of their size.

The most common complaints involve:

• Delayed claims payments
• Claim denials for lack of coverage
• Policy cancellations and non-renewals
• Issues with customer service responsiveness

For reference, Florida Peninsula insures over 320,000 homes. Only 18 complaints represents a very small fraction of their customers. The company responds to all complaints presented to the BBB, and has resolved most in a satisfactory manner according to the BBB’s records.

Pros of Choosing Florida Peninsula

Here are some of the key advantages that Florida Peninsula Insurance offers homeowners:

Strong financial ratings – Rated “A-” by AM Best and Demotech, indicating excellent financial health and ability to pay claims.

Good BBB rating – Accredited with the BBB since 2009 and holds an impressive A+ rating.

Policies only in Florida – Specialize solely in homeowners insurance for Florida properties, so very knowledgeable about Florida risks.

Local agents – Sell through independent insurance agents with deep knowledge of local home insurance markets.

Reasonable prices – Numerous customer reviews praise Florida Peninsula for competitive pricing compared to other top insurers.

Satisfied customers – Most customer feedback on third-party sites like Google and BBB is very positive overall.

Considerations When Choosing Florida Peninsula

While Florida Peninsula gets positive reviews from many customers, there are some downsides to weigh:

Policy non-renewals – Some homeowners get frustrated when Florida Peninsula cancels or doesn’t renew their policy. However, many insurers in Florida are dropping policies to reduce risk.

Claims complaints – A portion of complaints involve unsatisfactory claims experiences like delays or unsatisfactory settlements.

Newer company – Founded in 2005, so not as long history as some insurers operating for 50+ years. However, 18 years is a decent track record.

Limited availability – Only available through independent insurance agents in Florida, not directly.

AM Best could improve – An “A-” rating from AM Best is good but not top-tier. Several major insurers have “A” ratings or higher.

The Bottom Line: Florida Peninsula Reviews

Florida Peninsula Insurance Company has a strong reputation according to BBB and most customer reviews. They offer affordable pricing on homeowners insurance for many Florida properties. While they have some downsides like policy non-renewals and claims complaints, most customers seem satisfied overall. They are certainly an insurer to consider if you’re looking to insure your home in Florida.

To get a personalized quote and see if Florida Peninsula is competitive for your property, contact a local independent insurance agent that partners with them. An independent agent can provide quotes from Florida Peninsula as well as other top insurers. Comparing multiple quotes is the best way to find the optimal insurer for your home.