Federated National Insurance Company Review & Complaints

Federated National Insurance Company writes home insurance including standard homeowners, condo, renter's, and flood insurance policies. Sample Federated National Insurance Company quotes for a home with a $300,000 value and a $500 deductible returned rates ranging from $98.83/mo in Hernando County to $426.42/mo in Dade County. Federated National rates come in a little below average for Florida home insurance.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Dec 22, 2020

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Federated National Insurance

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The Highlights

  • Federated National Insurance Company offers many home insurance products, including both condo and renters insurance.
  • Federated National Insurance Company offers 24/7 claims service.
  • Ratings for Federated National Insurance Company are mixed.

Florida-based Federated National Insurance (FedNat) offers home insurance in a handful of states including its home state. They offer a range of home policies from standard homeowners to renters insurance. Federated National Insurance reviews are mixed as we talk about below.

If you are looking to buy a Federated National Insurance Company home insurance policy, then be sure to read our review first. Compare rates from other top companies by using our comparison tool above.

What types of insurance products are offered by Federated National?

The Federated National website is very limited in terms of product information. They list all of the products that are available, but they offer no details on the policies including coverage options or endorsements.

Federated National homeowners insurance policy options listed on the website are:

  • Homeowners
  • High-Value Homeowners
  • Condo
  • Renters
  • Flood Insurance

Also available from FedNat is personal umbrella insurance, which increases the liability coverage above and beyond what is included in a home policy.

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Does Federated National offer competitive rates?

Although there is a Federated National Insurance Company home insurance quotes system on the company website, we chose to use the Florida Office of Insurance Regulation’s rate comparison tool to provide rate information. This tool allows us to see rates for a sample home with a $300,000 value built in 2005. The sample uses a $500 deductible, with a 2% hurricane deductible.

This quoting system instantly provides us with Federated homeowners insurance rates for the sample home across 67 counties, which is more useful for comparison than running a direct rate quote on the site for only one particular zip code.

The returned Federated National Insurance Company home insurance rates ranged from $1,186 a year for Hernando County to $5,117 a year for Dade County. This wide range is not unusual for a Florida homeowners insurance company and generally reflects the much higher risk present in some counties that are vulnerable to hurricanes and other storm damage.

We then looked at the comparison by insurers for Dade county; FedNat’s rate for the same sample came in at number 10 out of 27 companies, with a rate a little below average. That means affordable Federated National Insurance Company home insurance is likely available to you.

Can Federated National Insurance claims be filed online?

FedNat claims can be reported 24/7 either online or over the phone.

The company has a Preferred Contractor search function that allows customers to find a contractor approved by the company; customers can also choose their own repair company or contractor.

The claims section of the website is far more comprehensive than any other part; it includes a solid FAQ section that details what to expect from the claims process as well as advice for hurricane season and what to do in an emergency.

The site also offers access to a claims advocate to help customers that are having difficulty with the claims process, and a claims satisfaction survey. Both of these options indicate that customer satisfaction with claims is a priority for this company.

Are Federated National Insurance ratings and consumer reviews positive?

FedNat has an A+ rating with the Better Business Bureau (BBB), and there are a total of 116 Federated National Insurance Company complaints on file in the past three years. The 76 reviews left by customers are mixed, for an overall three-star rating. A large number of the reviews are highly positive and cite excellent claims service after hurricane damage. Many are quite recent and focus on Hurricane Michael. There are also negative reviews citing the opposite experience.

The most recent complaint data from the Florida Office of Insurance Regulation is for the second quarter of 2018, and the complaint ratio is 1:1574, or one complaint for every 1,574 policies in force. The office places them on the lower side when compared to other companies of a similar size, with some companies considerably higher in terms of complaint volume.

There are 16 Federated National Insurance Company reviews on Yelp resulting in an overall 1.5-star rating. The reviews are mainly regarding a negative claims experience.

Overall, FedNat does not have a high complaint volume and has plenty of positive Federated National reviews to balance out some of the negative.

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What is Federated National?

FedNat was founded in Florida in 1992 and focuses on home insurance solutions for a variety of different types of residence, including those that are difficult to insure. The insurance company operates as a subsidiary of FedNat Holding Company, which also owns another Florida property insurance company, Monarch National.

In addition to their Florida operations, FedNat offers home insurance in Alabama, Louisiana, South Carolina, and Texas. Although they previously carried commercial lines insurance as well, since our last review of this company they appear to have dropped that line and now focus solely on home insurance products.

Interestingly, they do name other types of coverage in various places throughout the website – their quote request form, for instance, lists options including auto and boat insurance. These policies are not found in the product list, however. FedNat does provide third party administration for some other companies according to the “about” section of their website, so it is possible those products are underwritten elsewhere.

Policies are sold through local independent agents in the areas they serve.

Federated National insurance: The Bottom Line

Federated National may be worth considering for your home insurance, particularly if you have difficulty obtaining coverage. The lack of policy information makes it difficult to draw a conclusion on value, but they do appear to have plenty of happy customers which makes them worth a closer look.

Compare rates from other top home insurance companies, by using our comparison tool.

References:

  1. https://www.floir.com/

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