Heritage Insurance: Admitted Or Not?

Heritage Insurance Holdings, Inc. is an admitted carrier, authorised to write property and casualty insurance in North Carolina and Florida. The company is publicly traded on the New York Stock Exchange under the ticker symbol HRTG and offers insurance in seven states: Alabama, California, Florida, Georgia, Mississippi, North Carolina, and South Carolina. Heritage Insurance provides various home insurance policies, including personal liability coverage, loss of use coverage, personal property and values coverage, as well as other structures coverage. The company also offers additional insurance to increase personal property and valuables protection.

What is an admitted carrier?

An "admitted" insurance provider has been approved by a state's Department of Insurance and is backed by the state. This means that the insurance company must comply with the regulations set by the state's Department of Insurance or insurance commissioners. The state will verify that the carrier's insurance policy forms, rates, and requirements adhere to state insurance laws and regulations before allowing it to sell policies in that state. If an admitted insurance company fails financially, the state will step in to make payments on claims as necessary.

In the United States, Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company that operates under the Heritage Property & Casualty Company umbrella in Alabama, California, Florida, Georgia, Mississippi, North Carolina, and South Carolina. It is safe to assume that Heritage Insurance is an admitted carrier in these states as it is compliant with state insurance laws and regulations.

On the other hand, a "non-admitted" insurance carrier has not been approved by a state's Department of Insurance and is not backed by the state. Non-admitted insurance companies do not necessarily comply with state insurance regulations, and there is no guarantee that claims will be paid if the company becomes insolvent. Policyholders who believe their claim was handled improperly cannot appeal to the state's Department of Insurance.

While non-admitted insurance carriers may seem less legitimate, both admitted and non-admitted carriers are regulated, although by different offices. Non-admitted carriers are regulated by the Surplus Lines Offices, which have less strict regulations than those followed by admitted insurers. This allows non-admitted insurers to have more flexibility in terms of pricing and products.

Both admitted and non-admitted insurance carriers have their benefits, depending on the specific needs of the business or individual. Admitted carriers provide the advantage of state backing, ensuring that claims will be paid even if the company fails. Meanwhile, non-admitted carriers can offer coverage for more specific or high-risk areas that admitted carriers may not be able to insure.

Is Heritage Insurance publicly traded?

Heritage Insurance Holdings, Inc. is a publicly traded company listed on the New York Stock Exchange under the ticker symbol HRTG. The company is a super-regional property and casualty insurance holding company headquartered in Tampa, Florida.

Heritage Insurance was founded in 2012 and operates under the Heritage Property & Casualty Company umbrella in Alabama, California, Florida, Georgia, Mississippi, North Carolina, and South Carolina. The company offers home, condo, rental property, and commercial residential insurance through a large network of experienced independent agents.

Heritage Insurance has a management team with over 500 years of combined experience in the homeowners insurance market. The company understands the importance of customer service and is committed to providing homeowners with the highest quality property insurance along with competitive rates in the Gulf Coast states.

Heritage Insurance may be a good choice for homeowners living in areas at high risk of wildfires and earthquakes. The company has experience handling catastrophic claims, such as those involving wind damage due to hurricanes, as it writes policies in states that frequently deal with weather-related damage.

While Heritage Insurance may be a good option for those seeking a smaller carrier familiar with local coverage challenges, it has limited online capabilities and higher-than-average rates.

What is the average cost of Heritage Insurance's home insurance policies?

Heritage Insurance is an admitted carrier, and while the company does not provide information on the average cost of its home insurance policies, there are some estimates available.

Heritage Insurance is a property and casualty insurance company that offers coverage in Alabama, California, Florida, Georgia, Mississippi, North Carolina, and South Carolina. The company provides conventional home insurance policies, including the standard dwelling, personal property, and liability coverages.

Heritage Insurance lacks a quote comparison tool, making it difficult for potential customers to quickly compare rates with other insurance providers. However, according to Bankrate's research, the national average homeowners insurance cost in 2024 is $2,230 per year for $300,000 in dwelling coverage. It is important to note that your Heritage Insurance homeowners insurance rate may vary depending on specific factors such as the location and age of your house, and the coverage limits you choose.

Heritage Insurance also offers the Preferred HO-3 Policy, which includes standard features such as dwelling coverage, coverage for other structures, personal property coverage, additional living expenses, personal liability, and medical payments coverage. The coverage limits and ranges vary for each of these categories.

In summary, while the average cost of Heritage Insurance home insurance policies is not publicly available, potential customers can consider the national average and the specific coverage limits offered by the company when making their decisions. It is recommended to request a quote from Heritage Insurance to get a more accurate estimate of their home insurance policies' cost.

What is the customer service availability at Heritage Insurance?

Heritage Insurance is a super-regional property and casualty insurance holding company that provides 24/7 customer service. The company's customer service representatives are available to answer questions and guide customers through the claims process at any time of the day, every day of the week.

To contact the customer service team, policyholders can call the toll-free number: 1-855-415-7120. This number can be used to report a claim, with customers asked to provide basic information about what happened, a description of the damage, and, if possible, their policy number.

For general inquiries, Heritage Insurance provides a separate toll-free number: 1 (855) 536-2744. Policyholders can also refer to their policy declarations page to find their agent's contact information and ask them questions about their policy. Additionally, the Heritage Insurance website features an FAQ page that may provide answers to some common questions.

The company also provides a fax number and various email addresses for specific departments and purposes, such as sales, marketing, and underwriting.

What is the claims process at Heritage Insurance?

The claims process at Heritage Insurance is designed to be as stress-free as possible for the customer. The company provides 24/7 customer care and claims can be made by calling the toll-free number 1-855-415-7120. Claims can also be made by email to [email protected].

Heritage Insurance's claims professionals are dedicated to responding to customers with speed, compassion, and integrity. The company is committed to the fair handling of claims to minimize disruption to customers' lives. Customers can expect quality, personalized attention from their dedicated Agent and Account Manager.

In the event of a property loss, customers should take all reasonable steps to prevent further damage to their property. If a crime is involved, the police should be contacted immediately and no physical evidence should be disturbed. Customers should also report the incident to Heritage Insurance as soon as possible and begin reviewing and documenting damaged, destroyed, or missing items. Repair bills and estimates should also be compiled.

In the case of a liability loss, if the accident involves bodily injury, emergency medical providers should be contacted. The scene of the accident should be made safe and the name, address, and phone number of the insured person should be obtained. If the incident results in property damage, the property damaged, the owner of the property, and the extent of the damage should be documented. The names, addresses, and phone numbers of any witnesses should also be gathered. As with property loss, the incident should be reported to Heritage Insurance as soon as possible. If the incident results in serious injury or death, the company's office should be contacted immediately.

For automobile loss, customers should ensure the scene of the accident is safe and seek medical assistance if necessary. The accident should be reported to the proper authorities, and identifying information should be given to the other parties involved. However, customers should refrain from making any statements about assuming responsibility. The accident should then be reported to Heritage Insurance as soon as possible.

Frequently asked questions