Heritage insurance review 2023
The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
At a glance
About Bankrate Score
Policyholders who live in a high-risk area where finding homeowners insurance is difficult and prefer handling their insurance needs in person rather than online might consider Heritage as their company of choice.
Offers property insurance in higher-risk areas
Regional agents may be more familiar with local homeowners insurance market
Demotech financial stability rating of A (Exceptional)
Limited digital tools
Not available in all states
Rates are higher than the national average
Answer a few questions to see personalized rates from top carriers
Heritage home insurance
Bankrate’s insurance editorial team conducted a comprehensive study of Heritage Insurance, and based on our assessment, this Tampa-based property insurance company could be best for those who prefer an in-person agency experience as it only sells its policies through a network of agents. Heritage may also be ideal for those searching for a carrier that has extra experience handling hurricane claims.
Founded in 2012, Heritage Insurance operates under the Heritage Property & Casualty Company umbrella in Alabama, California, Florida, Georgia, Mississippi, North Carolina and South Carolina. While the name may not be as recognizable as other homeowners insurance giants, according to Heritage, the company writes over $1.2 billion of gross personal and commercial residential premiums.
Although its availability is limited, Heritage may have more experience handling catastrophic claims — such as those involving wind damage due to hurricanes — because it writes in states that deal with a large amount of weather-related damage. Heritage hires both in-house and field adjusters ready to review a claim on-site within hours. The carrier also offers in-house resources for damage, such as water or mold, and provides a three-year guarantee on all work performed.
Information regarding specific coverage options with Heritage homeowners insurance is limited. However, in addition to the standard homeowners insurance coverage you would expect, you may find opportunities to expand limits for personal property and valuables and other structures.
Heritage home insurance cost
To keep our fingers on the pulse of insurance premium trends, Bankrate has access to proprietary data from Quadrant Information Services. According to our research, the national average homeowners insurance cost in 2023 is $1,428 per year for $250,000 in dwelling coverage. In contrast, the average cost for an equivalent policy through Heritage Insurance averages $1,948 per year. However, this higher-than-average premium may be due to the higher-risk states that Heritage primarily operates in. Additionally, your homeowners insurance rate may vary depending on your specific rating factors.
|Dwelling coverage limit||Heritage average annual premium||National average annual premium|
Heritage home insurance endorsements
Heritage does not provide detailed information regarding its home insurance endorsement options, but it does mention that it does offer coverage add-ons to increase your personal property protection. Additionally, specialized coverage could be available for pool houses and guest houses.
For complete information regarding Heritage home insurance endorsements, you will need to contact the company for a quote.
Heritage home insurance discounts
Heritage Insurance does not list the available options for discounts with its homeowners policies, but it may be worth asking during the quoting process if they offer any savings options.
Heritage home tools and benefits
In addition to homeowners coverage, Heritage offers condo insurance, landlord insurance and commercial residential coverage, such as condominium master policies and homeowners association (HOA) insurance.
Heritage customer satisfaction
For shoppers looking for the best homeowners insurance company, customer service might be just as important as cheap rates. To measure this metric, Bankrate looks to a few different third-party scoring methods. Typically, our editorial staff reviews a company’s J.D. Power scores. However, J.D. Power did not include Heritage Insurance in any of its 2022 property insurance studies — likely because it is a smaller regional insurer.
In concurrence with J.D. Power scores, we also analyze where a company lands on the National Association of Insurance Commissioners (NAIC) Complaint Index. To help you better understand this data, know that the NAIC collects and categorizes each valid complaint it receives about an insurance company and then translates these complaints into an index score. A baseline index score is 1.0 — this means that the company receives the average amount of customer complaints compared to other companies of its size. A score higher than 1.0 indicates more complaints than average, and a score lower than 1.0 means fewer complaints.
Finally, we may be able to infer customer satisfaction by reviewing a company’s financial strength. Although financial strength isn’t a direct indicator of customer service, the historical ability to pay out claims when needed could mean fast and fair claims payouts, which could possibly lead to happy customers.
Heritage homeowners satisfaction
Heritage home insurance customer satisfaction may be lacking according to its NAIC Complaint Index. Heritage’s overall complaint index score is an exceedingly high 34.42, meaning the company received more than 34 times the amount of customer complaints when measured against comparable companies. Regarding Heritage home insurance specifically, the company does not fare as extremely, but still comes in with an index score of 7.37, indicating that more than seven times the customers lodged a complaint about the company’s homeowners insurance product than average.
Heritage Insurance was granted a financial strength rating of A (Exceptional) by the rating agency Demotech. Regardless of where you live, it’s crucial to ensure that your insurance company is financially sound. However, this can be tricky in states like Florida, where the homeowners market is strained (and where Heritage Insurance is based and writes much of its policies).
How to file a claim with Heritage
Knowing what to expect when filing a homeowners insurance claim can help take some of the guesswork of what could be a stressful situation. When you file a claim with Heritage Insurance, it will ask for some basic information, such as the date and circumstances of the loss. Additionally, you may need to provide pictures of any damage that may have occurred. Most insurance professionals advise filing claims as soon as possible to avoid unnecessary delays.
When you’re ready, you can file a claim with Heritage insurance by calling 1-855-415-7120. Its line is open 24 hours a day, seven days a week.
Heritage home insurance is available seven states, including:
- North Carolina
- South Carolina
Other Heritage perks worth considering
In addition to property insurance, Heritage offers a few other perks that may help it stand out from other carriers, including:
- Platinum Preferred Savings Program: Heritage offers membership to its Platinum Preferred Savings Program to its policyholders at no additional charge. Once enrolled, you will have access to around-the-clock customer service, support from a concierge during the claims process, access to a Contractors Alliance Network and an extended warranty on home repairs conducted as a result of a covered claim.
- Identity theft insurance: Identity theft coverage can assist you in your recovery efforts if your identity is stolen. For instance, Heritage identity theft insurance can work directly with credit card companies, financial institutions and credit reporting bureaus to restore your identity. Additionally, it may offer $1,000 in lost wages per week for up to five weeks if you need to take time off to deal with the consequences of identity theft.
- Artisan contractor insurance: Heritage offers contractor coverage through its commercial general liability (CGL) insurance. This policy can provide specialized financial protection for liability, equipment damage and more for those who work in home improvement.
Heritage corporate sustainability
Heritage Insurance has demonstrated community involvement since 2013. The company donated $7.2 million to charities, including Habitat for Humanity, Step Up for Students, the Salvation Army and the Breast Cancer Research Foundation. It has also contributed to local initiatives, such as running a clothing drive with other insurance agencies in Broward County, Florida with LifeNet4Families.
Not sure if Heritage is right for you?
Bankrate’s Heritage Insurance review delves into the different key areas homeowners consider when choosing a company, but you still may wonder if this is the company for you. Or, you may live in a state in which Heritage does not do business. Regardless of the reason, you may want to compare Heritage against one or more of the companies below and request a homeowners quote:
Heritage vs. American Family
Generally, American Family offers lower-than-average rates, so if you’re looking for cheap homeowners insurance, you may want to consider a quote. This may especially be true if your home is new or recently renovated — you could save even more through discounts geared towards new and renovated homes.
Learn more: American Family Insurance review
Heritage vs. State Farm
State Farm sells home and car insurance, which could be a bonus if you want to insure your policies in one place and qualify for a multiple policy discount. Additionally, the company has digital tools available, such as a highly-rated mobile app and a full-service online policy portal.
Learn more: State Farm Insurance review
Heritage vs. Tower Hill
Tower Hill insurance is another property insurance company that offers coverage in higher-risk areas within Florida. Additionally, shoppers looking for personalized policies might find Tower Hill’s robust endorsement options especially appealing.
Learn more: Tower Hill Insurance review
Is Heritage a good insurance company?
Choosing the right insurance company is not a decision to take lightly. Bankrate’s insurance editorial team has nearly 50 years of combined industry experience and includes three licensed insurance agents. For this reason, we conduct extensive insurance company reviews with the goal of providing our readers with the information they need to make an informed decision regarding their insurance coverage and carrier.
With that in mind, whether Heritage Insurance is a good company depends on your needs. If you’re looking to bundle your auto and homeowners under one roof, prefer hands-on policy management via a mobile app or live in a state where Heritage is unavailable, you’ll have to consider other companies. Additionally, those who prioritize customer service may want to do further research, at least based on the company’s standing on Heritage’s NAIC Complaint Index. However, if you live in a higher-risk area where insurance carrier options are limited or are interested in the claims service the company may provide through its Platinum Preferred Savings Program, Heritage could be worth exploring. In the end, the best way to determine if Heritage Insurance is a good company may be to contact an exclusive agent and request a quote.
Bankrate utilizes Quadrant Information Services to analyze 2023 current rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
- Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
- Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
- Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.