Written by
Natalie Todoroff
Natalie Todoroff is an insurance writer and industry analyst for Bankrate. She is based in San Francisco and holds a personal lines insurance license in the state of California.
Edited by
Jessa Claeys
Jessa Claeys is an insurance editor for Bankrate with over a decade of experience writing, editing and leading teams of content creators. She currently covers auto, home and life insurance with the goal of helping others secure a healthy financial future. Her work has been published by several insurance, personal finance and investment-focused publications, including Jerry, BiggerPockets, 401(k) Specialist, BP Wealth and more.
Edited by
Jessa Claeys
Jessa Claeys is an insurance editor for Bankrate with over a decade of experience writing, editing and leading teams of content creators. She currently covers auto, home and life insurance with the goal of helping others secure a healthy financial future. Her work has been published by several insurance, personal finance and investment-focused publications, including Jerry, BiggerPockets, 401(k) Specialist, BP Wealth and more.
Updated Aug 01, 2024At 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 editorial integrity ,this post may contain references to products from our partners. Here's an explanation of how we make money .Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure .
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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.
Avg. annual premium for $300k dwelling coverage
Do you have experience with Heritage? Let us know your thoughts.
Write a reviewBased 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.
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.
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 $2,270 per year for $300,000 in dwelling coverage. The average cost of that same policy from Heritage is $4,383 per year, or around 93 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.
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$150K dwelling Heritage average premium National average premium $300K dwelling Heritage average premium National average premium $350K dwelling Heritage average premium National average premium $450K dwelling Heritage average premium National average premium $750K dwelling Heritage average premium National average premium *All rates displayed are average annual rates.Home insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.
Rates refreshed as of Aug 2024Each 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.
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Home insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.
Rates refreshed as of Aug 2024For 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).
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.
