Prepared Insurance Company Review & Complaints: Home, Condo, Dwelling Fire & Renter’s Insurance (2024)

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Prepared Insurance Company is a Florida-based property insurance company offering a variety of home insurance policies. The company specializes in covering harder-to-insure homes, specifically older homes, which tend to have a more complex underwriting process. Prepared Insurance reviews are generally positive, although the business has had some complaints. It is in the process of being acquired by Lighthouse Property Insurance.

Looking to buy Prepared Insurance Company home insurance? Shopping around for home insurance will help you get great rates and coverage. Enter your ZIP now to start getting quotes for home insurance to compare with your Prepared Insurance home insurance rates.

Keep reading to find out more about Prepared Insurance Company complaints, reviews, and financial ratings.

What Prepared Insurance products are available?

Home Insurance is the sole product line offered by Prepared, and they write several types of coverage for various needs.

Homeowners

The standard home insurance liability coverage package policy from Prepared covers dwellings with a value of up to $2 million. Base coverage includes personal property coverage as well as liability, and there are a number of endorsements available to customize coverage.

The Titanium Package is an add-on that includes a list of popular endorsements for one price. In addition to increasing personal property (including replacement cost coverage and all perils coverage) and liability limits, it also adds:

• Equipment breakdown
• Service line coverage
• Animal liability
• Personal Injury Protection
• Increased special limits for high-value personal property
• Refrigerated goods
• Lock replacement
• Water backup
• Personal home computer coverage

Endorsements can also be added individually. The company offers a list of discounts for homeowners insurance policies, including claim-free, wind mitigation, protective devices, and even a multi-policy discount for taking out a flood insurance policy along with your homeowners. This is perfect as most homes in the state of Florida are subject to flooding.

Condo

The condo insurance policy offers coverage similar to that of a homeowners policy but does not provide for the structure itself since that is covered by the association.

The package endorsement option is not offered with a condo policy, but several of the same endorsements can be selected individually to enhance the coverage. This includes an optional endorsement for rental of the condo unit to others.

Renters

Renters insurance covers personal property as well as providing liability and loss of use coverage.

Endorsements include an upgrade to replacement cost for personal property and increased liability including animal liability. A shorter list of discounts is available, including a senior discount.

Read more: Renters Insurance Coverage: An Expert Guide

Dwelling Fire

This policy is designed for rental homes and includes loss of rent coverage in addition to the standard structure and liability coverage. There are several available endorsements for this policy as well, including personal property replacement cost, which can be especially useful in a furnished rental.

Flood Insurance

Prepared Insurance writes flood insurance through the National Flood Insurance Program, acting as a Write-Your-Own carrier. Flood insurance can be purchased for homes in various flood risk zones.

You will have to decide exactly what coverage you need for your home when shopping for a homeowners policy. Insurance is not one size fits all so you only want to purchase the coverages you need.

Does this insurer offer competitive rates?

Prepared does not offer online quoting, but has a form that can be submitted to request a quote. There is also an agent search function that provides contact information for the nearest local agent to provide a quote. Speaking to an agent is the only way to find out what your premium will be.

Unfortunately, this business is not one of the companies for which the Florida Office of Insurance Regulation provides rate information, so we were not able to gather any price comparison information there.

How do you file a claim with Prepared Insurance?

The Prepared site clearly outlines the claims process, step by step, promising quick processing with their “concierge claims service”.

There is a toll-free number available 24/7 to which claims should be first reported. The Prepared Insurance phone number is 888-544-4885 to file a claim, the same as Lighthouse Insurance.

The site promises same-day assignment and contact by a claims examiner, who will schedule an inspection of the damage by a field adjuster. After the damage has been examined and coverage confirmed, the claim will be paid.

The business website offers other helpful information, including the homeowners rights in a claim and also flood claims information.

What do the customer reviews and ratings say about this company?

Prepared has been accredited with the Better Business Bureau (BBB) since 2017. Prepared Insurance’s BBB rating is an A+. There are six complaints on file in the past three years.

Four customers have left Prepared homeowners insurance reviews on the page, one of which is positive and the rest negative. Prepared has responded to each of the reviews.

There are 24 Google reviews for an overall 3.5-star rating, indicating more positive reviews than negative. Most of the reviews are in regard to claims, and there are both one and five-star claims comments.

Again, the insurance company does respond to each of the reviews. This shows concern about customer experience and an effort to resolve problems.

The Florida Office of Insurance Regulation complaints database shows a complaint ratio of 1:3205 for this business. Florida homeowners insurance company ratings are for 2018 third quarter, the most recent available data.

That ratio is high when compared to two other companies with a similar market share in the state. Liberty Mutual, for example, has a ratio of 1:10580 and Nationwide 1:33171. We looked back at previous quarters and found the ratio to be much the same.

Who is the Prepared Insurance Company?

Prepared was founded in 2009, one of several new homeowner’s insurance companies that started up in response to large insurers pulling out of Florida following several particularly bad hurricane seasons.

These hurricanes left homes built before 2002 struggling to find coverage, as they are more likely to sustain damage during a hurricane.

Prepared Home Insurance Company moved into this gap, and now this business writes coverage for homes 2002 and older, although they do have requirements for condition and maintenance of the home, as do most standard home insurance companies. It is likely that your home will need to undergo inspection before you can be covered.

They also write condo, renters, and landlord insurance policies and cover new homes in addition to older ones.

Prepared Insurance Company in Tampa, Florida sells its products through independent agents. It is in the process of being purchased by the Lighthouse Property Insurance Corporation, a business that writes policies in Texas, Louisiana, South Carolina, and North Carolina.

Check out these various ratings for Prepared.

Prepared Insurance Company Ratings

Prepared Insurance reviews are mostly good, although there are some insurance company complaints in Florida. Keep reading for Prepared Insurance Company Florida reviews.

Prepared Insurance Company Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Prepared Insurance Company offers a straightforward claims process that prioritizes customer convenience. While they do not provide online quotes, they do offer an efficient way to file a claim. Customers can choose between filing a claim online or over the phone, making it accessible for individuals with varying preferences.

Average Claim Processing Time

The company promises quick claim processing through their “concierge claims service.” Upon reporting a claim via their toll-free number, which is available 24/7, customers can expect same-day assignment and contact by a claims examiner. Subsequently, a field adjuster will inspect the damage, and once coverage is confirmed, the claim will be paid promptly.

Customer Feedback on Claim Resolutions and Payouts

Prepared Insurance Company has received positive feedback from customers regarding their claim resolutions and payouts. They hold an A+ rating with the Better Business Bureau (BBB) and have responded to customer reviews on various platforms, showing their commitment to addressing and resolving concerns.

While there are some complaints, the majority of Google reviews indicate a more positive experience, especially in terms of claims handling.

Prepared Insurance Company Digital and Technological Features

Mobile App Features and Functionality

Prepared Insurance Company offers a mobile app that provides convenient access to policy information and claims filing. The app is designed to enhance the overall customer experience, allowing policyholders to manage their accounts, track claims, and access important resources on the go.

Online Account Management Capabilities

Customers can easily manage their policies and accounts through Prepared Insurance Company’s online portal. This digital platform enables policyholders to view and update their policy details, make payments, and access important documents whenever they need them.

Digital tools and resources

In addition to the mobile app and online account management, Prepared Insurance Company offers a range of digital tools and resources to assist customers. These tools may include educational materials, FAQs, and informative articles to help policyholders make informed decisions about their insurance coverage.

The company’s commitment to providing digital resources demonstrates their dedication to customer support and engagement.

What is the bottom line?

Prepared Insurance does not offer any rate information, which makes it hard to compare them in terms of value.

While some homeowners may want to consider them if they have an older or difficult to insure a house, the Florida homeowners insurance market is not as challenging as it once was. For those with newer or updated homes, there may be better options.

We were unable to find any red flags for this business, however, and they do have comprehensive programs that make them worth considering. The state of Florida homeowners insurance ratings were generally positive.

Looking for affordable Prepared home insurance? Now that you know the Prepared home insurance reviews, you can make a good decision on what is the best insurance company to own your home with. Enter your ZIP now to compare rates from top companies to your current Prepared home insurance quote today.