Bad experiences filing insurance claims were cited in many poor reviews left for Florida insurance carriers. | Barry Bahler/FEMA
Florida’s home insurance rates continue to rise faster than any other state at the same time as customer reviews of insurance carriers seem to plummet.
Data from the Insurance Information Institute and National Association of Insurance Commissioners show Florida only below Louisiana for premium costs, Space Coast Daily reported.
Double-digit rate increases filed by several Florida insurance companies make it tougher for homeowners who are struggling to pay their premiums. That reveals a reason customer satisfaction with insurers shows a decline in online reviews, Sean Harper, CEO of Kin Insurance, told Space Coast Daily.
“Based on publicly available reviews, most home insurance companies in Florida fail customer expectations,” he told Space Coast Daily.
A 2.9 rating out of 5 stars, the average review for all Florida providers, falls short of mediocre customer service. Expensive premiums and having a bad experience filing claims were cited as reasons for poor reviews by many customers.
Net Promoter Score (NPS) industry averages follow this trend. The NPS shows if a customer would make a recommendation of a business to a friend. Most homeowners wouldn’t tell their friends to use their insurer, if the NPS average of 35 out of 100 for home insurance carriers is any indication.
An NPS score of 84 for Kin Insurance reverses that trend with home insurance companies. Customer satisfaction doesn’t need to be ignored by the industry, Harper told Space Coast Daily.
The more than 800 reviews for the Florida home insurance company had an average rate of 4.8 out of 5. An easy online buying experience, savings of more than $500 and experts prepared to answer all questions were cited by many customers in their Trustpilot reviews, Harper said.
“We don’t think homeowners should settle for less when protecting their most valuable asset,” Harper, a Kin Insurance co-founder, told Space Coast Daily.
He said reviews of Kin show that designing the company with the customer in mind were what it took to change the insurance experience.
Alerts Sign-up