UPDATED: Mar 18, 2020
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About Homeowner’s of America
HOAIC was founded in 2005 in Delaware, although they did not and still do not write home insurance in that state. Their first home insurance policies were written in Texas, and by 2012 they were among the 20 largest home insurance companies in the state.
They expanded operations to Arizona in 2014 and to South Carolina the following year. They followed that expansion with Georgia and Virginia, and are licensed in most states with plans for further growth in the coming years.
HOAIC writes policies through independent agents. They have a head office in Irving Texas, and the majority of their business is in that state.
HOAIC has a range of home insurance products available in Texas, and in the other states they serve they write only standard homeowner’s insurance (South Carolina is the exception, with Dwelling Fire policies offered as well)
The company website has no description of the policies beyond the name and form type (HO3, for example, the form for standard homeowner’s insurance). Listed for Texas are:
- Four forms of homeowner’s insurance for owner-occupied residences, with different levels of coverage
- Four forms of dwelling fire policy, which are intended for rental homes and other non-primary occupancy homes
- Condo Insurance
- Renter’s Insurance
- Flood Insurance, offered through Wright Flood
As mentioned above, in South Carolina the company offers only one form of home insurance, along with two dwelling fire choices. The other states have only one type of home insurance available, which is the standard homeowners (HO3) policy.
There is no rate information for this company nor is online quoting offered, which comes as no surprise given the lack of any policy information on the site.
As a small, agent-driven company we would not expect HOAIC to compete on rates with the major players in the market. Companies like this usually make up for higher rates with a focus on customer service.
HOAIC claims can be filed online or called in via a toll-free line that is available 24/7. An email address is also provided for those that prefer not to use the claim form on the website but still want to submit electronically.
The site provides a general overview of the claims process, promising quick and straightforward processing and providing basic advice on what to do in the event of a loss. It is light on details, but it does provide what a customer will need to get their claim started and get an idea of what to expect.
Ratings and Consumer Reviews
Homeowners of America has an A+ rating with the Better Business Bureau (BBB), where they have been accredited since 2010. There have been 19 complaints filed and closed in the past three years. Three customers have left reviews on the BBB page; one is positive and two are negative. The company does respond to comments.
As far as customer reviews, we were unable to find anything on the usual websites. As a general rule, a lack of reviews is a positive thing for an insurance company, since people are far more likely to leave a review when unhappy than when they are satisfied with the service they have received.
The Bottom Line
There is not really enough information to form a solid opinion of this company. They appear to have a good reputation and are growing pretty quickly, which is a sign that they are doing something right. So far, they are only an option in a few states, but homeowners there may want to compare HOAIC’s rates to other options.
For a list of companies that we recommend, visit our Best Insurance Companies page.