Security First Insurance Company Homeowners Insurance Review and Ratings (2022)

Security First Insurance Company offers homeowners insurance policies to the high-risk state of Florida. As a family-owned and operated company, it has several years of experience handling challenging hurricane claims payouts.

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Chris Tepedino is a feature writer that has written extensively about home, life, and car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and C...

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent Laura Walker

UPDATED: Apr 5, 2022

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The Rundown

  • Security First Insurance Company only offers homeowners policies to Florida residents
  • It is a family-owned company that has been in the insurance business for over 100 years
  • It offers policies to hurricane-prone areas, which has been a challenge for the company

Security First Insurance Company offers homeowners insurance to residents in the state of Florida. It is a stable company that’s family-owned and operated.

Florida is a difficult state to find reasonably priced homeowners insurance policies, as many companies choose not to do business in Florida due to tropical storms and hurricanes.

Security First is one of the few companies that tackles the challenge of operating in Florida.

In this review for 2022, you will find information about the company, the online tools it offers, its financial strength, and a broad look into its customer reviews.

Security First Insurance Company Information

Security First homeowners insurance is only offered in the state of Florida, although it is licensed to sell insurance in 26 states. The company is headquartered in Ormond Beach, Florida and has been doing business since 2005.

Security First’s motto is to provide affordable homeowners insurance storm after storm. Currently, it provides homeowners insurance to over 230,000 customers in Florida.

Many insurance companies avoid Florida because of the severe weather occurrences that happen every year. Security First has chosen to tackle this challenge head-on.

Who owns Security First Insurance?

Locke Burt is the owner, CEO, and chairman of Security First Insurance Company. It has a long family legacy in the insurance sector, as Locke Burt’s great-grandfather started an insurance company all the way back in 1918.

Locke lived through the devastation of Hurricane Andrew and witnessed the insurance sector collapse. He was instrumental in assisting the insurance market during that hard time, and shortly after founded Security First Insurance Company.

His daughter, Melissa Burt DeVriese, became president of the company in 2020. The father-daughter team both work together to steer the company as leaders in Florida’s challenging homeowners insurance market.

Melissa is a licensed attorney and has been with Security First since 2009. Her background in regulatory law helps keep the company in line with the state requirements for insurance.

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Security First Insurance Company Online Tools

Security First has strived to stay competitive in the world of technology with a comprehensive website and phone application.

The company’s website offers several features for its customers. Within the customer portal, you can pay your bill, start a claim, check on the status of a claim, print insurance documents, and change your personal information. You can also get homeowners insurance rates by ZIP code using the online tool.

Security First also has a handy phone app for iPhone and Android operating systems. You can manage your policy within the app and have access to all of the features that are found on the company’s website. The app also comes with a hurricane storm tracker with an interactive mapping system.

Filing a Claim

There are three ways to file a claim with Security First Insurance. The first way is to call the 24/7 claims hotline at (877) 581-4862. The second way is to access the online portal by logging into your customer account.

You can also file a claim with the company’s mobile app straight from your phone. Through the app, you can upload photos and documents, check on the status of your claim, and contact your adjuster.

Security First offers lots of information on its website about the claims process, what to expect while filing a claim, and how to mitigate further damage.

Security First Insurance Company Financial Strength

Although Security First has not received a rating from A.M. Best rating services, it has received a score from Demotech.

Demotech gives Security First a financial stability rating of “A” which is exceptional. It is the third-highest score an insurance company can receive from the rating company.

Security First shows a healthy policyholders surplus, which is direct capital the company can tap into in order to pay out insurance claims. It also shows positive net premiums written.

The company looks to be in very healthy financial standing and should be able to pay out customer claims with no issues.

Security First Insurance Company Reviews

Security First has accrued over 2,000 reviews on Google Maps and insurance review websites. Of those 2,000 reviews, the average rating for the company stands at around 3.5 stars. This is about average for a homeowners insurance company and is higher than average for an insurance company that operates out of Florida.

The biggest complaint that Security First receives is that customer premiums have been raised drastically over a short period of time. Several customers canceled their policies to find better insurance rates. The company has rebutted that Florida has been in an insurance crisis lately due to several severe weather events and that rate increases are unavoidable.

There are several complaints about Security First Insurance customer service during Hurricane Irma. Many customers said that they could not get through to the insurance company to start a claim and that no communications were initiated by the company. Others had a denial of claims from hurricane damage.

Although there are several negative reviews, there are lots of positive reviews for the company. Many customers have noted that the claims process is quick and easy, with fair assessments and payouts for damages.

There are also a lot of compliments about helpful, informative, and professional agents staffed by Security First.

Overall, reviews for the company are a mixed bag, but there are more positive reviews than negative ones.

Security First Insurance Company Complaint Index

The complaint index released by the National Association of Insurance Commissioners shows that the company received a score of zero in 2021. The national average complaint index is a score of one.

In 2020 the complaint index for Security First was 0.61, and in 2019 its score was 45.75.

2019 was a very rough year for insurance companies, and many of them folded due to not being able to pay out claims to customers. There were many severe storms that caused catastrophic damage to property, and the insurance companies simply couldn’t keep up.

Lots of homeowners insurance companies accrued a high index score in 2019, although Security First’s index score for that year is higher than its competitors.

Overall, the company shows a healthy index report for the most recent years but it may prove to be troublesome to work with during severe weather events.

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Security First Insurance Company Review for 2022 Conclusion

Security First is one of the largest homeowners insurance companies in Florida. It provides all the basic insurance needs for customers with several add-ons available. It does not provide commercial property insurance at this time.

The company is family-owned and operated with over 100 years of insurance experience. Its goal is to help customers that live in the high-risk state of Florida.

Security First offers several online tools to its customers, including a phone application that also has an interactive storm tracker.

The company has very strong financial strength and its financial outlook appears to be very healthy. It has a large policyholders surplus that should be able to cover customer claims.

The online reputation of the company is a mixed bag, as several customers have had issues with claims during hurricane season. But it has also received several positive reviews, noting how professional the insurance agents are.

Overall, Security First could be an excellent choice for you if you reside in Florida and are looking for a new homeowners insurance policy.

References:

  1. https://www.demotech.com/company/10117/

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