Heritage insurance review 2024
-
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
Bankrate's take
Heritage may be the company of choice for policyholders who live in a high-risk area where finding homeowners insurance is difficult. However, compared to many competitors, Heritage's digital tools are limited.
- Policies available in 7 states: AL, CA, FL, GA, MS, NC and SC
- Only offers home insurance
- Few policy customization options
- Rated A (Exceptional) by Demotech
Heritage home insurance review
Based on Bankrate’s comprehensive study of Heritage Insurance, this Tampa-based property insurance company could be best for those living in one of seven coastal states who are searching for a carrier with ample experience handling hurricane claims. It’s also ideal for those who prefer an in-person experience since the company only sells its policies through a network of agents.
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 has $1.39 billion of premiums in force for personal residential insurance, commercial residential insurance and general liability insurance.
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.
Pros and cons of Heritage homeowners insurance
As part of our Heritage insurance review, our insurance editorial team highlighted some pros and cons of the company to help you make a more informed insurance buying decision.
Pros
- Offers property insurance in higher-risk states
- Regional agents may be more familiar with local homeowners insurance markets
- Demotech financial stability rating of A (Exceptional)
Cons
- Limited digital tools
- Not available in all states
- Rates are usually higher than the national average
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 2024 is $2,304 per year for $300,000 in dwelling coverage. The average cost of that same policy from Heritage is $4,607 per year, or around 100 percent more. Because Heritage primarily focuses on insuring homes in disaster-prone states, the average cost of its policies likely reflects the higher risk.
However, keep in mind that your Heritage homeowners insurance rate may vary depending on your specific rating factors and Coverage A dwelling limit.
|
|
|
|
|---|---|---|
|
$150K dwelling
|
Heritage average premium
$2,322
|
National average premium
$1,406
|
|
$300K dwelling
|
Heritage average premium
$4,607
|
National average premium
$2,304
|
|
$350K dwelling
|
Heritage average premium
$5,387
|
National average premium
$2,571
|
|
$450K dwelling
|
Heritage average premium
$6,830
|
National average premium
$3,118
|
|
$750K dwelling
|
Heritage average premium
$7,509
|
National average premium
$4,549
|
Compare Heritage homeowners insurance rates
Each insurance company has its own underwriting method and will weigh the risks of insuring your home differently. Because of this, your rate will likely change based on the companies from which you receive quotes. The table below compares average rates for $300K in dwelling coverage from Heritage and some of the largest providers in the country. It also shows how they stack up against the national average.
|
|
|
|
|---|---|---|
|
$4,607
|
+ $2,303 |
|
|
$1,984
|
- $320 |
|
|
$2,289
|
- $15 |
|
|
$1,451
|
- $853 |
|
|
$2,448
|
+ $144 |
|
|
$1,772
|
- $532 |
|
|
$3,567
|
+ $1,263 |
|
|
$1,698
|
- $606 |
|
|
$2,485
|
+ $181 |
|
|
$1,871
|
- $433 |
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. Our editorial staff usually reviews a company’s J.D. Power scores for customer and claims satisfaction. However, J.D. Power did not include Heritage Insurance in any of its 2023 property insurance studies — likely because it is a smaller regional insurer.
We may also 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 could indicate as much in the future. AM Best rates a company's financial strength and creditworthiness on a standard letter-grade scale from A to D. Heritage lands in the “Good” category, meaning it has a good chance of honoring its financial obligations.
Heritage Insurance was also granted a financial strength rating of A (Exceptional) by the rating agency Demotech. Regardless of where you live, the financial soundness of your insurance company is crucial. However, this can be tricky in states like Florida, where the homeowners market is strained (and where Heritage Insurance is based and writes many of its policies).
Heritage home insurance customer complaints
Together 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. A baseline index is 1.00 — this means that the company receives the average amount of customer complaints compared to other companies of its size. A score higher than 1.00 indicates more complaints than average, and a score lower than 1.00 means fewer complaints.
According to the NAIC, Heritage home insurance has had slightly more complaints than average compared to insurance companies of a similar size. Complaints have been slowly increasing over the past few years, so you might want to keep tabs on customer reviews.
Heritage home insurance discounts
Heritage Insurance does not list any available discounts for its homeowners policies online, but it may be worth asking during the quoting process if the company offers any savings opportunities. You can typically save money by paying more of your annual premium up front, having safety devices like security cameras and sprinkler systems in your home, opting for paperless billing and remaining claims-free.
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Get personalized home insurance quotes
Answering a few quick questions to check your availability with Heritage
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Compare Heritage with other insurers
Bankrate’s Heritage Insurance review delves into the different key areas homeowners consider when choosing a company, but you still might wonder if this is the company for you. Or, you could 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:
|
Featured
Heritage
Not scored
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
|
American Family
4.2
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
Cost & ratings 4.3Coverage 4.2Support 4.0 |
State Farm
4.3
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
Cost & ratings 4.4Coverage 3.9Support 4.4 |
|---|---|---|
|
OVERVIEW
Bankrate identified key carrier features, coverage offerings, discounts and more
|
||
|
Heritage may be the company of choice for policyholders who live in a high-risk area where finding homeowners insurance is difficult. However, digital tools are very limited compared to many competitors.
Read More
|
American Family generally offers lower-than-average rates, so if you’re looking for cheap homeowners insurance, you may want to consider a quote. You can potentially save even more through discounts geared toward new, renovated and LEED-certified homes.
Read More
|
State Farm sells home and car insurance, which could be a bonus if you want to bundle your coverage for a discount and ease of policy management. Additionally, the company has digital tools available, such as a highly rated mobile app and a full-service online policy portal.
Read More
|
|
STANDOUT FEATURES
These features are some of the carrier’s most impressive
|
||
|
Offered in hurricane-prone areas
Exceptional rating from Demotech
Local agents available
|
Discounts for bundling
High-rated customer satisfaction
Broad range of policy add-ons
|
Near-nationwide availability
Lauded digital tools
National network of agents
|
|
AVG FULL COV. AUTO RATE
Average national annual cost of a full coverage auto insurance policy
|
||
| No rates available |
$2,688 |
$3,060 |
|
J.D. POWER AUTO SCORE
J.D. Power’s Auto Claims Satisfaction Study assesses customer satisfaction with the claims experience on a 1,000-point scale
|
||
| Not Scored | 692/1000 |
710/1000 |
|
AVG HOME RATE
Average national annual cost of a home insurance policy with $300K in dwelling coverage
|
||
| $4,607 |
$1,698 |
$1,984 |
|
J.D. POWER HOME SCORE
J.D. Power’s Property Claims Satisfaction Study assesses customer satisfaction with the claims experience on a 1,000-point scale
|
||
| Not Scored |
877/1000 |
873/1000 |
|
AM BEST RATING
AM Best ratings assess companies’ financial strength based on historical ability to pay out claims, among other financial obligations
|
||
| Not Scored | A(Excellent) |
A++(Superior) |
Why you can trust Bankrate
Read our full methodologyOur insurance editorial team includes licensed agents with decades of combined experience, and we used our intimate knowledge of the industry to conduct this in-depth Heritage insurance review.
46
years of industry expertise
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
Is Heritage a good insurance company?
Choosing the right insurance company is not a decision to take lightly. Bankrate’s insurance editorial team has years of combined industry experience and includes licensed insurance agents. We conduct extensive insurance company reviews with the goal of providing you with the information you need to make an informed decision on your 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 homeowners and auto insurance or prefer managing your policy digitally, Heritage may not be the right fit. However, if you live in a higher-risk area where insurance options are limited or want a smaller carrier that's familiar with the coverage challenges in your area, Heritage could be worth exploring. In the end, the best way to determine if it is a good company may be to contact an exclusive agent and request a quote.
What are real-life customers saying about Heritage?
As part of any insurance review we do, Bankrate’s insurance editorial team looks for feedback from real-life customers. However, information online about Heritage home insurance is pretty limited, and much of the sentiment around the company on online forums like Reddit and Quora skews negative. Heritage works primarily in high-risk states, where insurance can be more expensive and harder to find. This can cause premiums to become more expensive and potentially rise upon renewal.
Heritage company details
Heritage customers can manage their policies in the following ways:
- Sales: Submit an online request form
- Customer service: 855-620-9978 for Florida customers, 855-536-2744 for all other states
- Claims: 855-415-7120
- Sales email address: salesandmarketing@heritagepci.com
- Payment address: Heritage Insurance c/o The Bank of Tampa, P.O. Box 22007, Tampa, FL 33622
State availability
Heritage is available in seven states: AL, CA, FL, GA, MS, NC and SC.
Heritage Insurance tools and benefits
In addition to property insurance, Heritage offers a few other perks:
- Identity theft insurance: If your identity is stolen, Heritage identity theft insurance can help restore it by working with credit card companies, credit reporting bureaus and financial institutions. If you need to take time off work in order to deal with this problem, Heritage may offer $1,000 in lost wages per week for up to five weeks.
- 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.
- Additional property coverage: 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.
Frequently asked questions about Heritage
Methodology
Bankrate utilizes Quadrant Information Services to analyze November 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
- Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
- Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
- Coverage E, Liability: $500,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.
These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Bankrate Scores
Our Bankrate Score considers variables our insurance editorial team determined impact policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
-
Cost & ratings 50%
-
Coverage & savings 30%
-
Support 20%
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
What policyholders are saying about Heritage
Heritage has 25 reviews
Dive into community reviews below and see what others think about Heritage.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
recommend this insurer
In May 2024, Bankrate collaborated with market research firm SliceMR to survey over 1,500 insurance customers nationwide, asking policyholders to rate their insurer’s cost, coverage, customer support and overall experience on a five-point scale. Bankrate and SliceMR collected and analyzed these customer ratings, along with website analytics and responses to three open-ended questions regarding customer experience. Responses are based on individual policyholders’ policy details and personal experience, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. All ratings are unedited and have not been reviewed or approved by insurance carriers. User-generated ratings are separate from carrier Bankrate Scores — which are calculated based on our proprietary methodology — and may not match.
Community Reviews
