Safepoint Insurance Review & Ratings (2024)
Get comprehensive coverage and peace of mind with SafePoint Insurance. Compare rates from top insurance providers in your area to find the best policy for your home or business. Protect your valuable assets with reliable insurance solutions. Enter your ZIP code now and make an informed decision to secure your future.
Peyton Leonard
Published Author & Insurance Expert
Peyton Leonard is an insurance and finance writer living in Colorado Springs, CO. She is currently obtaining her Bachelor’s in English at Thomas Edison State University. Peyton is the author of “Lyme & Not the Fruit.” She also has experience writing for the business magazine, Productivity Intelligence Institute.
Published Author & Insurance Expert
UPDATED: Jul 17, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Jul 17, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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SafePoint Insurance
Average Monthly Rate For Good Drivers
N/AA.M. Best Rating:
B-Complaint Level:
LowPros
- Specialized coverage for coastal areas
- Multiple options for homeowners insurance (owner-occupied, renters, condos)
- Availability of add-ons like Dwelling Fire, equipment breakdown coverage, and identity theft protection
- Offers flood insurance endorsement in Florida
Cons
- Limited information on products and pricing on the company website
- Mixed customer reviews, with some expressing dissatisfaction
- Lack of transparency on pricing without direct contact with an agent
- A.M. Best Rating downgraded to B- (financial strength)
SafePoint Insurance is a company specializing in home and commercial property coverage, particularly tailored for coastal areas. The review covers the types of insurance offered, including homeowners, renters, and condo policies, as well as add-ons like Dwelling Fire and flood insurance in Florida.
SafePoint’s commercial insurance options for businesses are also discussed. The article notes a lack of specific pricing information on the website and highlights mixed customer reviews, with both positive and negative experiences.
Financial ratings from A.M. Best indicate a B- rating, and the article suggests comparing rates and considering customer feedback before choosing SafePoint Insurance. It also touches on the company’s digital features, including a mobile app and online account management.
What You Should Know About SafePoint Insurance
- SafePoint sells home and commercial property insurance in six coastal states
- Although you have to speak with an agent to get a quote, customers generally say that rates are affordable
- The Better Business Bureau gives SafePoint an A+, but A.M. Best rates them lower at a B-
Our aim is to provide you with the necessary information to make an informed decision. To ensure you find the best rates and policies tailored to your needs, we encourage you to enter your ZIP code and compare quotes from top insurance providers. Protect your assets and secure your future today!
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What is SafePoint Insurance?
SafePoint got its start in 2013 in Tampa, Florida, selling home and commercial insurance. Since then, SafePoint has expanded into Louisiana, Texas, New Jersey, Alabama, and Mississippi. This company is dedicated to providing coverage specifically tailored for coastal areas.
Although SafePoint sells insurance in several states, not all products are available everywhere. Before you learn about SafePoint’s products, look at the graph below to see what’s available in your state.
| State | Commercial | Homeowners | Renters | Condo | Flood | Equipment Breakdown | Identity Theft | Dwelling Fire |
|---|---|---|---|---|---|---|---|---|
| Florida | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Louisiana | Yes | Yes | No | No | No | Yes | No | Yes |
| Texas | Yes | Yes | No | No | No | Yes | No | No |
| Alabama | Yes | Yes | No | No | No | Yes | No | No |
| New Jersey | Yes | No | No | No | No | No | No | No |
| Mississippi | Yes | No | No | No | No | No | No | No |
When you’re ready to sign up for insurance, an agent will make sure everything you want is available.
SafePoint Insurance Coverage Options
SafePoint doesn’t list very many details on its website about its products, but you can expect it to cover the basic features of homeowners insurance. This includes:
- Dwelling. This part of your policy protects the physical structure of your home, including windows, roofs, and electrical systems. It also includes other freestanding structures on your property, like fences or garages.
- Personal property. The structure of your house isn’t the only thing that makes it a home. SafePoint will repair or replace appliances, furniture, clothing, and other belongings.
- Liability. Unfortunately, guests in your home are sometimes injured. If you’re ruled responsible for the situation that caused the injury, liability insurance will help pay your legal bills.
Read more: Best Business Insurance for Clothing Retail Stores
SafePoint offers three types of homeowners insurance — owner-occupied, renters, and condos. All three of these insurance policies include dwelling, personal property, and liability, but they are tailored to meet the unique needs of each home type.
SafePoint offers add-ons for your homeowners insurance, as well. Dwelling Fire provides additional coverage for fire damage. While you can occasionally buy Dwelling Fire for an owner-occupied home, it’s made for rentals and seasonal houses. You can also buy equipment breakdown coverage and identity theft protection.
Does SafePoint sell flood insurance?
SafePoint offers home insurance for coastal areas, so it makes sense that it would provide flood insurance. When you purchase a SafePoint homeowners insurance policy, you can elect to add flood protection in Florida.
This endorsement protects you from floods and sewer backups. SafePoint determines the price of your flood endorsement on whether you live in a flood zone or not.
Some of the benefits of SafePoint’s flood endorsement are:
- No waiting periods for new plans
- A single deductible
- Easy to add to your policy
- No elevation certificate required
Unlike the National Flood Insurance Program (NFIP), SafePoint defines a flood as covering one acre or one property. NFIP requires double that for a policyholder to be eligible to make a claim.
SafePoint Commercial Insurance
If you own a business, SafePoint has the insurance options you need to keep your property safe. SafePoint works with a variety of business interests, including:
- Office spaces for medical, accounting, designers, and insurance buildings
- Retail spaces, including antique shops, liquor stores, florists, and grocery stores
- Temples, churches, and synagogues
- Warehouses and mini-warehouses
- Shopping centers
- Office buildings
Read more: Best Business Insurance for Churches
You can add equipment breakdown coverage to any commercial line to increase the value of your policy.
Read more: Best Business Insurance for Grocery Stores
Commercial lines are different depending on the state you live in. However, you can get an idea of what a SafePoint policy includes below:
- Wind damage in coastal areas
- Business income protection
- Outdoor property and exterior signs
- Coverage limits up to $10 million
- Earthquake insurance
- Property coverage extension
SafePoint offers criminal protection for eligible businesses, including employee theft, robbery, safe burglary, forgeries, and alterations.
Read more: Best Business Insurance for Convenience Stores
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SafePoint Insurance Rates Breakdown
Unfortunately, SafePoint does not release information about its prices without speaking directly to an agent. However, you can get an idea of what insurance might cost you by looking at the average cost of home insurance in your state.
| State | Average annual price | Average monthly price |
|---|---|---|
| Florida | $1,353 | $112 |
| Texas | $1,863 | $155 |
| Alabama | $1,624 | $135 |
| Louisiana | $1,568 | $130 |
Many customers state that they saved a lot of money when they switched to SafePoint, so you can expect that the price won’t be higher than the state average. It might even be lower.
Commercial insurance is more complicated. While the average small business owner pays around $750 a year for commercial property insurance, your price will vary by the size of your business, your industry, and many other factors.
SafePoint Insurance Discounts Available
Here’s a general discount that insurance companies often offer:
- Multi-Policy Discount: Save money by bundling multiple insurance policies with the same provider. For instance, combining home and auto insurance or adding additional lines of coverage can lead to discounted rates.
It’s important to note that specific discounts and eligibility criteria may vary by insurer, so it’s recommended to check with SafePoint Insurance directly or review their official documentation for accurate and detailed information on available discounts.
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Streamlining Your Claims With SafePoint Insurance
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
SafePoint Insurance offers multiple options for filing a claim, making the process convenient for policyholders. You can file a claim online through their website, over the phone by contacting their customer service, or even through their mobile app.
This flexibility allows customers to choose the method that suits them best, whether they prefer the convenience of online filing or the personal touch of speaking with a representative.
Average Claim Processing Time
The average claim processing time with SafePoint Insurance can vary depending on the nature and complexity of the claim. However, the company strives to handle claims efficiently and promptly. Policyholders can expect a reasonable turnaround time for their claims, with the exact duration being determined on a case-by-case basis.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback on claim resolutions and payouts with SafePoint Insurance is mixed. Some policyholders have expressed satisfaction with the company’s claim handling, particularly praising the responsive customer service and smooth payout process.
However, there are also reports of customers who have faced challenges during the claims process, including delays and disputes. It’s essential for potential policyholders to research and consider this feedback when evaluating SafePoint Insurance as their insurer.
Unlocking Convenience: SafePoint Insurance’s Digital Features
Mobile App Features and Functionality
SafePoint Insurance offers a mobile app that provides policyholders with convenient access to their insurance information. The app allows users to view policy details, make payments, and even file claims directly from their mobile devices. It offers a user-friendly interface and essential features that enhance the overall customer experience.
Online Account Management Capabilities
Policyholders with SafePoint Insurance can easily manage their accounts online. Through the company’s website, customers can access their policies, update personal information, and make payments. This online account management system streamlines administrative tasks, giving policyholders more control over their insurance policies.
Digital Tools and Resources
SafePoint Insurance provides digital tools and resources to assist policyholders in understanding their coverage and making informed decisions. These resources may include informative articles, FAQs, and educational materials on various insurance topics. By offering these digital resources, SafePoint aims to empower its customers with knowledge and information to make the right insurance choices.
How SafePoint Insurance Ranks Among Providers
Here’s a general guide on how to compare insurance companies and encourage you to conduct thorough research. When comparing insurance providers, consider the following factors:
- Coverage Options: Compare the types of coverage offered by different companies, including home, auto, business, and other relevant insurance products.
- Rates: Request quotes from multiple insurers to compare rates for similar coverage. Keep in mind that the actual cost can vary based on individual factors.
- Financial Strength: Look at the financial ratings provided by agencies like A.M. Best to assess the financial stability of each insurer.
- Customer Reviews: Read customer reviews to understand the experiences of policyholders with each company. Pay attention to both positive and negative feedback.
- Discounts and Incentives: Compare available discounts and incentives offered by different insurers. These could include bundling discounts, safe driver discounts, and more.
- Claims Process: Research the ease and efficiency of the claims process for each company. Check if they offer online claims filing and 24/7 customer support.
- Additional Features and Services: Compare additional features such as digital tools, mobile apps, and online account management offered by each insurer.
- Company Reputation: Consider the overall reputation and longevity of the insurance companies in the market.
The specific details for SafePoint Insurance and other companies would require direct access to their documentation or online resources. If you have information on other insurance companies you’d like to compare with SafePoint, feel free to provide those details for a more specific comparison.
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What do SafePoint insurance reviews say?
Customers are fairly mixed in their response to SafePoint. Some people love their service and highly recommend it, while others warn to stay away.
Happy policyholders enjoy the excellent customer service agents provide. They also enjoy that they can easily make payments with a simple SafePoint Insurance login, though you’ll need to watch out for the agent-only login.
Angry customers paint a different picture. Many say that SafePoint continues to charge for canceled features and that getting in touch with an agent can be difficult. They also say that the SafePoint Insurance claims process is a nightmare.
As for professional ratings, the Better Business Bureau (BBB) gives SafePoint an A+, but customer reviews on the site are not kind. SafePoint carries a single star for its rating, and there are several unresolved complaints.
A.M. Best rates insurance companies on their financial strength. The higher the rating, the better able an insurance company is to pay its policyholders’ claims. SafePoint does not have the best rating from A.M. Best. Originally, it had a B, but it was recently downgraded to a B-.
Find the Best Insurance for Your Needs
Whether you need home insurance or commercial property coverage, SafePoint might be your best choice. However, the company is plagued by negative reviews and poor ratings, and you might be better elsewhere.
If you’re interested in SafePoint insurance, you can speak with an agent to learn more about rates and what is available in your state. Then, compare rates with other companies to make sure you get the best rates possible.
Frequently Asked Questions
What is SafePoint Insurance, and where is it available?
SafePoint Insurance is a home and commercial property insurance provider that specializes in coverage for coastal areas. It is available in six states: Florida, Louisiana, Texas, New Jersey, Alabama, and Mississippi.
What types of homeowners insurance does SafePoint offer?
SafePoint offers three types of homeowners insurance: owner-occupied, renters, and condos. All three policies include dwelling, personal property, and liability coverage, but they are tailored to meet the unique needs of each home type.
Does SafePoint offer flood insurance?
Yes, SafePoint offers flood insurance as an endorsement to its homeowners insurance policy in Florida. The price of the flood endorsement is determined by whether the insured property is located in a flood zone or not.
What types of businesses does SafePoint offer insurance for?
SafePoint works with a variety of business interests, including restaurants, hotels, convenience stores, and more. It also offers equipment breakdown coverage as an add-on to any commercial policy.
How can I find out the cost of SafePoint insurance?
SafePoint does not release pricing information without speaking directly to an agent. However, you can get an idea of what insurance might cost you by looking at the average cost of home insurance in your state and comparing quotes from multiple insurance providers.
Is SafePoint a good insurance company?
SafePoint is generally considered a good insurance company, but specific experiences can vary. It’s important to read customer reviews and check its ratings.
What is the highest rating an insurance company can have?
The highest rating an insurance company can have is typically an “A++” from A.M. Best or an “AAA” from Standard & Poor’s.
What services are offered by SafePoint?
SafePoint offers homeowners, dwelling fire, and condominium insurance.
How can I find the rating of an insurance company?
You can find the rating of an insurance company by checking rating agencies like A.M. Best, Standard & Poor’s, or Moody’s.
How does SafePoint work?
SafePoint operates by providing insurance policies, handling claims, and offering customer service through its network of agents and brokers.
Who is the CEO of SafePoint Insurance?
The CEO of SafePoint Insurance is David A. Flitman.
What is the revenue of SafePoint Insurance Company?
Specific revenue figures for SafePoint Insurance are not publicly disclosed.
What insurance company has the most complaints?
This varies by year and region, but companies with large market shares often have more complaints. Check the NAIC Consumer Complaints database for current information.
Is it better to have a higher premium?
Not necessarily; it depends on the coverage needs and financial situation. Higher premiums often mean better coverage but assessing individual needs is crucial.
How are premiums calculated?
Premiums are calculated based on factors like risk level, coverage amount, location, the policyholder’s history, and specific underwriting criteria.
What is SafePoint’s Demotech rating?
SafePoint has a “A” (Exceptional) rating from Demotech.
What is the insurance rating score?
An insurance rating score is an evaluation of an insurer’s financial strength and claims-paying ability, typically ranging from A++ (superior) to F (in liquidation).
Is A+ the highest score?
A+ is one of the highest scores, but A++ is higher.
What is the highest risk rating?
The highest risk rating usually involves being rated “C” or lower, indicating significant risk and financial instability.
How much does SafePoint cost?
The cost of SafePoint insurance varies widely depending on factors like the type of coverage, location, and individual risk factors.
What is the purpose of a safe place?
The purpose of a safe place is to provide a secure and protective environment for individuals or valuables.
What is a good insurance rating?
A good insurance rating is generally “A” or higher from rating agencies like A.M. Best or Standard & Poor’s.
What is the credit rating process?
The credit rating process involves evaluating an entity’s financial health, stability, and ability to meet obligations, conducted by rating agencies.
What do ratings mean on insurance?
Ratings indicate the financial strength and reliability of an insurance company, affecting their ability to pay claims.
What is the standard rating for life insurance?
The standard rating for life insurance is typically “A” or better from rating agencies, indicating good financial health.
Is it better to have a higher premium?
This is a repeat of question 9. It depends on individual needs and financial capacity.
How to calculate premium rate insurance?
Premium rates are calculated based on risk assessment, coverage type, policyholder information, and statistical data on claims.
What’s an acceptable level of risk?
An acceptable level of risk varies by individual or company tolerance but generally means a balance between affordable premiums and adequate coverage.
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Peyton Leonard
Published Author & Insurance Expert
Peyton Leonard is an insurance and finance writer living in Colorado Springs, CO. She is currently obtaining her Bachelor’s in English at Thomas Edison State University. Peyton is the author of “Lyme & Not the Fruit.” She also has experience writing for the business magazine, Productivity Intelligence Institute.
Published Author & Insurance Expert
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.