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Federated National insurance review 2022

Updated Nov 15, 2022
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Federated National might be an option for Florida homeowners looking for a policy with numerous coverage options or those who like to work with a local agent. Coverage is only available in Florida, though, and the company has a high complaint index with the National Association of Insurance Commissioners (NAIC).

Pros

  • Provides robust coverage solutions for homeowners, including high-value home insurance, flood insurance and personal umbrella coverage
  • Provides 24/7/365 phone and online claims reporting
  • Offers online quotes and agent referrals, bill payment and claims reporting

Cons

  • Not rated by A.M. Best
  • Coverage not available nationwide
  • Very poor NAIC Complaint Index, indicating considerable customer dissatisfaction
  • Provides modest coverage limits for other structures, personal property and loss of use protections

Federated National home insurance provides various homeowners policies for Florida residents. Although the coverage is not available nationwide, it does offer a lengthy number of coverage options for Floridians through an agency network. It also offers convenient solutions for its policyholders by providing access to claims reporting by phone or online 24/7.

Federated National Insurance (FedNat) is only offered directly to residents of Florida. The company faces some challenges relating to coverage limits and customer complaints, but offers a robust portfolio of unique protections for individual homeowners and renters.

Federated National home insurance

With a wide array of home insurance policies available, FedNat may appeal to a good cross-section of Florida homeowners and renters looking for a one-stop-shop carrier to address their home protection needs. Supplemental coverage options, such as underground pipe protection, allow customers to tailor policies in ways that compete with some of the best home insurance companies.

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FedNat could provide a solution for individuals looking for a way to combine several forms of home protection coverage to address specific concerns. In addition to basic homeowners, condo and renters coverage, FedNat offers several additional types of coverage that stand out, including:

  • Service line coverage: This option expands standard homeowner protection to cover underground pipes, wiring and other forms of service lines on the insured property.
  • Social media coverage and ID theft protection: FedNat tracks the heightened risks that rapid changes in technology have added to all of our lives. Both these coverage types can help protect policyholders from the financial consequences that arise when social media accounts are compromised and identity theft occurs.
  • Personal umbrella liability coverage: This type of umbrella coverage is specifically designed for situations where a lawsuit for personal injury or other damages leads to expenses not covered by your home insurance’s liability limits.

Federated National home insurance discounts

Like other insurance carriers, FedNat offers a number of discounts that may help save some money on premiums. These potential discounts may apply to different applicants for different reasons, depending on a number of factors, such as having a claim-free record, home upgrades (new roof discount) and security system (central fire or burglar alarm discount). A couple of notable FedNat discounts include:

Federated National home services

FedNat concentrates its services only on insurance products. Unlike some other home insurance providers, there are no additional non-insurance products available through FedNat.

Other Federated National perks worth considering

In addition to the home insurance policy and high-value home insurance, FedNat offers the following options:

  • Condo insurance
  • Renters insurance
  • Personal umbrella liability
  • Flood insurance
  • Animal liability
  • Landlord insurance
  • Identify theft coverage
  • Social media coverage
  • Service line
  • Equipment breakdown

Federated National corporate sustainability

FedNat highlights numerous charities it is involved with, both on a national and local level. Charity involvement includes national organizations such as the Susan G. Komen Breast Cancer Fund, Step up for Students, American Cancer Society and Toys for Tots. Locally, the company supports the Stoneman Douglas Victims Fund, the Ronald McDonald House, Feeding South Florida and many other charities aimed at improving the lives of residents in Florida.

Not sure if Federated National is right for you? Consider these alternatives

While Federated National may specialize in insurance products for Floridians, there are alternatives to consider.

  • Kin Insurance: Like Federated National, Kin Insurance specializes in the high-risk coverage area of Florida. This is a newer insurance company, established in 2016, and may be able to provide coverage where other insurers often stop, such as on the coast.
  • American Strategic Insurance (ASI): ASI is also based in Florida and is and may be able to provide coverage for high-risk areas too. The company joined with Progressive which means you may also be able to take advantage of bundling opportunities.
  • Security First: Security First is a Florida-based company and offers competitive rates for homeowners insurance in Florida. Many of its coverage options are tailored to Floridians, including golf cart coverage, screen porch protection and flood insurance.

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