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Old 05-29-2009, 04:57 PM
 
13 posts, read 58,056 times
Reputation: 33

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My husband and I are closing on a house in June and have gotten several different quotes for home owners insurance. The cheapest rate was from Olympus. Coming from NY we aren't familiar with the company. Has anyone dealt with them before? Any other recommendations? Anything we should look out for?

Thanks!
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Old 05-29-2009, 05:29 PM
 
Location: Palm Coast
209 posts, read 457,927 times
Reputation: 107
Never heard of them. Maybe try Security First. Be careful of re-insurance the companies have that insure them.
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Old 05-30-2009, 01:05 AM
 
396 posts, read 894,322 times
Reputation: 278
According to Demotech.com they are an A rated company.....

Other than personal testimonials and what you find in the news, it's often difficult to get a real handle on the quality of all of these "new" Florida insurance companies.

Does anyone know if there is anything more reliable than Demotech?
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Old 05-30-2009, 07:25 AM
 
Location: Central Florida
1,594 posts, read 3,792,960 times
Reputation: 1142
A.M. Best Company This will show the financial soundness of the company.
You have to sign up for a free account and then search for the company
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Old 05-31-2009, 05:40 PM
 
13 posts, read 58,056 times
Reputation: 33
Thanks for the tips. They help alot!
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Old 05-31-2009, 05:42 PM
 
Location: Taylors, SC
8,807 posts, read 14,602,798 times
Reputation: 2692
I have them right now. I'm very happy with them. They saved me about $300 and gave me more coverage.
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Old 06-17-2009, 09:39 AM
 
66 posts, read 226,564 times
Reputation: 30
Default Researching Florida Home Insurance Companies

It is nice to see someone looking for Florida homeowners insurance that is actually asking the tough questions about the company's themselves. Many Floridians who have picked their company solely on price could be in for a nasty surprise after the next Florida hurricane.

Some of the things that you should consider about each company including Olympus is the company's size, financial strength, length of time in business, and their customer service - particularly their complaint history.

Look for companies that have surplus cash available to pay their claims of at least $50 million. Try to find a Florida home insurance company that has been around at least since the mid 1990's. There aren't very many but at least those companies have been through the 2004 and 2005 hurricanes and improved their processes. You should also check out their complaint history for the past few years to see how they compare with others in the industry.

Here is place you can check out that I saw in most of the Florida newspapers after the State Farm announcement to find Florida home insurance. What I liked about this site is that it ranks companies like Olympus against all the other companies you are considering using a relative rating system - so all of the companies that you get Florida home insurance quotes show up there.

My take on Olympus is that they were one of the more higher rated companies since I last signed on. I hope this is helpful to you. Good luck!
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Old 12-14-2009, 10:30 AM
 
1 posts, read 16,896 times
Reputation: 10
I currently have Olympus insurance. My mortgage company (used this company for my last 6 homes)deducted from my escrow account and submit my insurance payment to Olympus 16 Nov. 2009. However that payment has still yet to be posted to my insurance account. Not sure where my funds have traveled to.
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Old 01-27-2010, 09:31 AM
 
41 posts, read 75,754 times
Reputation: 19
Unfortunately in FL there are not many AM Best rated companies writing homeowners insurance coverage. The only ones that I know of are American Strategic and Bankers for mid to lower end homes and Chubb, Fireman's Fund and Pure for higher value homes. You can vist Demotechs website at www.demotech.com to see how long a company has been in business and what reserves they have available to handle claims. You can also go to the Florida Department of Financial Services website www.fldfs.com and check there to see how many complaints a company has received. I have written policies with Olympus for over a year and have not had any problems with them being responsive. Unfortunately it is hard to know how a company will hold up until they have to deal with an active hurricane season.
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Old 01-27-2010, 02:00 PM
 
Location: Sloooowcala Florida
1,295 posts, read 1,460,577 times
Reputation: 1005
I have insurance with Olympus. Does anyone know if they have a website?
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