Safepoint Insurance Review & Ratings (2023)
This Safepoint Insurance Review will cover Safepoint Insurance ratings by real users for overall satisfaction and claims, cost, billing, and service satisfaction. To compare insurance rates from the best companies in your area, enter your ZIP code below.
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UPDATED: Jun 28, 2022
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- 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-
For anyone that owns property, insurance is a must. From homeowners insurance to commercial properties, the right insurance policy can keep your buildings in top condition. Insurance is especially important in areas with extreme weather, such as the eastern seaboard and the Gulf of Mexico.
The SafePoint Insurance Company is a relative newcomer in the home and commercial property insurance market. With availability in six states, SafePoint promises coverage specially tailored to coastal areas.
You can learn more about SafePoint insurance by reading below. Then, you should be prepared to compare quotes with other companies to make sure you get the best rates possible.
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|
When you’re ready to sign up for insurance, an agent will make sure everything you want is available.
SafePoint Homeowners Insurance
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.
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
You can add equipment breakdown coverage to any commercial line to increase the value of your policy.
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.
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How much does SafePoint insurance cost?
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|
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.
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.