Compare Insurance Quotes
About Prepared Insurance
Prepared Insurance was founded in 2009 after many home insurers began to pull back from the Florida market. After a series of hurricanes, homes built before 2002 became more difficult to insure due to the higher risk they represent during storms. Prepared entered the market to help fill that void and provide a coverage option for homes built prior to 2002.
The company is headquartered in Tampa, FL, and sells a variety of home insurance products through agents across the state. Although underserved older home markets are their focus, the company also writes policies for newer homes.
Although they are open to insure homes built before 2002, the company still has requirements for the condition of the homes and writes policies for coastal homes on a more limited basis than in other areas.
Prepared Home Insurance Products
Prepared’s lineup of home products includes standard homeowners, condo, renters, and coverage for investment properties as well.
Although the company states that their homeowner’s insurance policy is an “a la carte” product rather than the standard package policy, it does still come as a package that includes dwelling, other structures, and personal property coverage as well as liability.
Beyond what is part of the basic policy, Prepared offers a selection of additional coverage and increased limits. The Titanium Package encompasses their highest level of coverage. This endorsement increases many coverage levels and also adds on a list of other endorsements.
The Titanium Package includes the following:
- Increased personal property coverage, including upgrade to replacement cost and all perils coverage
- Increased personal property special limits on a variety of items including jewelry, watercraft, and business property
- Increased personal liability from $100,000 to $300,000
- Increased Loss of Use coverage
- Increased Medical Payments from $1000 to $5000
- Animal Liability coverage
- Personal Injury coverage of $300,000
- Increased coverage for damage to property of others
- Refrigerated property coverage
- Lock replacement
- Water backup
- Personal home computer coverage
Many of these endorsements can also be added on an a la carte basis as well for those who do not need the full package.
There are a variety of discounts available on the Prepared Insurance homeowner’s program. These include discounts for wind mitigation features, senior citizens, security systems, and a claim free discount.
Prepared Insurance writes condominium insurance policies designed to cover the part of the condo structure that is not protected by a condo association policy. Coverage also includes personal property and liability, like most home insurance products.
While the Titanium Package is not offered on condo policies, many of the coverages that are part of the bundle can be selected as additional endorsements on the policy.
Renters insurance policies are available to provide coverage for the personal property of tenants, which is not covered under the owner’s policy. These policies also cover personal liability and loss of use for the renter.
Prepared’s renter’s policy, like their other products, comes with a list of optional endorsements to tailor coverage to the insured’s needs.
Prepared offers a product for owners of homes that are rented out to others. Their landlord policy is a Dwelling Fire product, which provides coverage for the structures but limits personal property.
This policy is also considered a la carte, and Prepared offers a range of endorsements, some of which are specific to the needs of landlords, such as loss of rent.
Prepared offers a discount on an investment property policy when the insured already has an approved primary homeowners policy in force with the company.
Prepared offers flood insurance policies through the National Flood Insurance Program. The company also offers a 2.5% discount on homeowners insurance to customers who purchase both policies.
Prepared Insurance Rates
Prepared Insurance does not offer online quoting but does include a link on their website to request a quote. Rate quotes can also be obtained by contacting an agent, which the website will facilitate.
Homeowner’s rate quotes are complicated to compare due to the many factors involved, therefore it is difficult to provide company comparisons. The Florida Office of Insurance Regulation offers a rate comparison database for homeowners, however, Prepared is not listed.
Prepared offers a 24/7 toll-free claims reporting phone line, without the option of reporting a claim online.
The website states that an adjuster will be assigned and will contact the insured typically within the same business day. The claims page of the website offers a list of instructions and tips for what to do in the event of a claim, particularly water damage. Beyond the initial reporting stage, however, there is no information offered on the claims process.
Ratings and Consumer Reviews
Prepared Insurance Company has an A+ rating with the Better Business Bureau. There have been only two complaints filed in the past three years, and one of those was closed in the past 12 months.
The Florida Office of Insurance Regulation’s complaints database shows 6 complaints filed in the fourth quarter of 2016, which is the most recent data. That is a ratio of one complaint for every 5,353 policies in force. While this is not the lowest complaints ratio by far, it is also not out of line for a company of this size.
There are positive reviews that have been posted on the company’s Facebook page for an overall 4.5 rating. Company reviews on Facebook are a relatively new system, so we expect to see a small volume of comments.
Outside of these few comments, we were unable to find any other customer reviews. Of the few we did locate, the majority of comments were positive in nature.
The Bottom Line
Prepared Insurance offers a good basic product lineup, with a nice range of discount options available. They are well worth considering for Florida homeowners, particularly those who have pre-2002 construction homes and have had difficulty finding coverage elsewhere. So far, the company appears to be building a solid reputation as it approaches the one-decade mark in the Florida homeowners market.
For a list of companies that we recommend, visit our Best Insurance Companies page.