Homeowners of America Insurance Company Review & Complaints: Home Insurance

Homeowners of America Insurance Company offers homeowners, dwelling fire, condo, floor, and renters coverage for Texas residents. Although you cannot get a quote online, you can use the website or 24/7 phone line to make insurance claims. Our review explores more about the Irving, Texas company and lists the average annual home insurance rates where Homeowners of America Insurance does business. Learn more.

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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: May 3, 2021

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The Highlights

  • Homeowners of America Insurance Company (HOAIC) is a tried-and-true insurance company that offers a variety of home insurance policy types.
  • The company has an A+ rating with the Better Business Bureau and has had 19 complaints filed and closed in the past three years.
  • With a head office in Texas, the company is one of the largest home insurance providers in the state.

Homeowners of America Insurance Company (HOAIC) is a young insurer with less than 15 years in business. The company serves a handful of states with ongoing expansion plans. The company focuses entirely on home insurance coverage, offering a variety of policy types. Keep reading our review to learn more.

Use our flexible homeowners quote tool to compare home policies in your area and find the best rates. Just enter your ZIP code and select “Home” in the drop-down box.

What is Homeowners of America Insurance Company?

HOAIC was founded in 2005 in Delaware. However, the insurance agency doesn’t write home insurance policies in that state. Its first home insurance policies were written in Texas, and by 2012 it was among the 20 largest and best insurance companies in the state.

Homeowners of America home insurance will review your customer policy each year to update its database.

The insurer expanded operations to Arizona in 2014 and to South Carolina the following year. Expansion to Georgia and Virginia soon followed, and the company is now licensed in most states with plans for further growth in the coming years. So if it isn’t currently possible to buy Homeowners of America home insurance in your state, it should be soon.

The Homeowners of America HOB insurance policy is popular in Texas.

The company has a head office in Irving, Texas, and the majority of its business is conducted in that state. HOAIC writes dwelling coverage policies through independent agents.

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What Insurance Products Does the Company Offer?

The company has a range of home insurance products and coverage options available in Texas. In the other states it serves, it offers only standard homeowners insurance (South Carolina is the exception, with dwelling fire policies offered as well).

The company’s website has no description of the dwelling coverage policies beyond the name and form type (HO3, for example, the form for standard homeowners insurance). Listed for Texas are:

  • Four forms of homeowners insurance for owner-occupied residences with different levels of coverage
  • Condo insurance
  • Four forms of dwelling fire policy, which are intended for rental homes and other non-primary occupancy homes
  • Renters Insurance
  • Flood insurance, offered through Wright Flood

In South Carolina, the insurer 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.

You can access your account by phone or using your login on the website.

Are the Company’s Home Insurance Rates Competitive?

There is no rate information for this company online, nor is online quoting offered, which comes as no surprise given the lack of any policy information on the site, so finding affordable home insurance may be difficult. Here’s a list of average annual home insurance rates by state.

Average Annual Home Insurance Rates by State
StatesAverage Annual Home Insurance Rates
Indiana$1,000
Illinois$1,056
North Carolina$1,086
Kentucky$1,109
Wyoming$1,156
Tennessee$1,196
South Dakota$1,202
North Dakota$1,253
Georgia$1,267
South Carolina$1,269
Missouri$1,285
Minnesota$1,348
Arkansas$1,373
Nebraska$1,481
Colorado$1,495
Texas$1,893
Oregon$677
Utah$692
Nevada$755
Arizona$825
Washington$854
Pennsylvania$931
Michigan$942
Iowa$964
Virginia$999
National Average$1,211
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As a small, agent-driven company, we would not expect the company to compete on rates in the homeowners insurance market with the major players in the market who generally provide more discounts and better cash discounts. Companies like this usually make up for higher rates with a focus on customer service, although you can learn for sure by asking for a Homeowners of America insurance quote directly from the company and see if they do provide discounts you are eligible for.

How Are Insurance Claims Processed?

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 who prefer not to use the claim form on the website but still want to submit electronically.

If you need to speak with a customer service representative, use the Homeowners of America Insurance Company’s phone number: 866-407-9896. You can also call the claims department at the phone number 866-407-9896.

The website provides a general overview of the dwelling coverage claims process, promising quick and straightforward processing and providing basic advice on what to do in the event of a loss. It’s light on details, but it does provide information on what a customer will need to get their claim started and what to expect.

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Are the Company’s Ratings and Consumer Reviews Positive?

Let’s take a look at some of the company’s reviews from financial and credit rating agencies. The company has an A+ rating with the Better Business Bureau (BBB). There have been 19 complaints filed and closed in the past three years. Three customers have left reviews on the BBB page.

The National Association of Insurance Commissioners (NAIC) lists the HOAIC as Homeowners of America Ins Co. The company’s current NAIC complaint index is 0.21, which is much lower than average, meaning the insurer receives few complaints.

The company’s A.M. Best rating is not available. We searched J.D. Power’s ratings but didn’t find anything there either. However, Demotech has given the company an “A” rating.

As far as customer reviews, we were unable to find anything on the usual websites. 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’re satisfied with the service they’ve received. Thus, the company’s Insurance rating remains high.

Use the box below to check out home insurance companies in your area and find great home insurance rates near you.

What’s the Bottom Line?

There is not enough information to form a definite opinion of this company. The insurer Homeowners of America Holding Corporation appears to have a good reputation and it’s growing pretty quickly, which is a sign that it’s doing something right. Homeowners living in states where HOAIC property damage coverage is available should compare its rates to those offered by other companies before purchasing a homeowners insurance policy.

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#1 – Is Homeowners of America a good insurance company?

The company is not rated by A.M. Best or J.D. Power, but Demotech gave it an “A.”

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#2 – What is the best-rated home insurance company?

Amica Mutual, Allstate, and Geico are the top-rated home insurance companies in the United States.

References:

  1. https://www.irmi.com/term/insurance-definitions/homeowners-policy-special-form-3
  2. http://www.demotech.com/search_results_fsr.aspx?id=12536&t=2

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