Southern Fidelity Homeowners Insurance Review and Ratings (2022)
Southern Fidelity Insurance Company is a new player in the insurance industry. After a poor claims year stemming from catastrophic weather, the company faced financial trouble. While they have good financial backing now, there are concerns about how the company handles its claims and customers.
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UPDATED: Jun 28, 2022
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- Southern Fidelity Insurance Company has been in business for 17 years
- They specialize in providing homeowners insurance policies to customers in high-risk weather areas
- Hudson Structured Capital Management, Ltd. recently bought out Southern Fidelity
Southern Fidelity Insurance Company is a small insurance carrier offering personal property insurance policies to customers in four states.
They specialize in policies for customers that live in high-risk weather areas, including coverage for hurricanes and tropical storms.
American Fidelity wasn’t in business very long before getting bought out by another company. They still have their business name and handle customer operations, but a more stable financial backer maintains their financial backing and reinsurance policies.
If you live in a high-risk Southern state and need personal property insurance coverage, Southern Fidelity could be a good choice.
This article will discuss Southern Fidelity, its online tools, and customer reviews.
About Southern Fidelity Insurance Company
Southern Fidelity Insurance Company has been in operation since 2005 and serves customers in four states. They specialize in homeowners insurance coverage for customers in severe weather areas and coastal regions.
The states that Southern Fidelity covers are:
- South Carolina
In November of 2020, Hudson Structured Capital Management, Ltd., now a majority owner of the company, acquired Southern Fidelity. They operate as HSCM Bermuda and conduct insurance and reinsurance business.
HSCM Bermuda has provided a capital injection into Southern Fedilty and expanded the company’s reach in Florida, Louisiana, and South Carolina.
Founded in 2016, HSCM Bermuda operates out of Connecticut and Bermuda. They had $2.75 billion in commitments and assets in 2020.
Many insurance companies filed for bankruptcy or merged into other companies after a catastrophic storm year along the Southern U.S. coast in 2019. So, it is not surprising to see the acquisition of Southern Fidelity into a larger insurance carrier.
Southern Fidelity still operates under its name and handles all its customer relations. HSCM Bermuda works in the background as a carrier that financially backs Southern Fidelity.
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Southern Fidelity Online Platform
Southern Fidelity has a robust online platform with several features for its customers. Their platform features a list of insurance products, contact information, a customer login area, and an agent login area. It also has a free insurance quote tool.
You can also apply to be an agent for Southern Fidelity through their website.
Southern Fidelity Insurance Claims
Southern Fidelity has an area of their website they call the claims corner. Within this area, you can file a claim online, and you can also call their claims number at 866-722-4995.
Southern Fidelity gives comprehensive instructions on things to remember when you file a claim, including advice not to discard any damaged property until you have spoken with an insurance adjuster.
In Southern Fidelity’s claims corner, there is information on what to expect during the claims process, several checklists and forms, and how to protect yourself from fraud during an insurance claim.
Southern Fidelity has several resources that explain what to do after a large storm, including information about your rights and a glossary of insurance terms.
Overall, Southern Fidelity provides comprehensive information to help you during the claims process and has built a user-friendly online claims system.
Southern Fidelity Insurance Payment Options
There are several ways to pay your bill with Southern Fidelity, with one of the most convenient ways being through their online customer portal.
You can also make payments over the phone. The Southern Fidelity Insurance Company phone number is 866-874-7372 for customer service and payments.
You can submit your Southern Fidelity Insurance payment through the mail with a check, cashier’s check, or money order. Their mailing address is:
Southern Fidelity Insurance Company
P.O. Box 31148
Tampa, Florida 33631-3148
You also have the option to mail payment with an overnight courier service. The overnight payment address is:
Southern Fidelity Insurance Company
Attn: Payment Processing
4700 140th Ave, North Suite 106
Clearwater, Florida 33762
In review, the company has a solid online platform for customers and agents, with features including a comprehensive Southern Fidelity Insurance claims portal and online payment options.
Southern Fidelity Insurance Company Reviews
Southern Fidelity does not have a lot of customer reviews, totaling around 100 reviews across Google and other websites. Overall, the rating for the company comes in at around two stars, which is below average for an insurance company.
Several customers had to file a claim after Hurricane Ida in 2021. The performance of Southern Fidelity was not good, according to customer accounts. Customers complained that they had a hard time contacting a claims representative weeks after the storm hit. Many said that they were unable to contact the company at all after Hurricane Ida. Some customers noted that American Fidelity lowballed their insurance payouts that didn’t even cover the costs of repairs from the hurricane.
Several other reviews complain of massive price increases to their rates year after year. One customer had a 140% increase over two years, despite having no claims on file. Another had a $3,600 increase to their premium in one year, with no claims on record.
Some Southern Fidelity Insurance company reviews are positive, including some that had a good experience during the hurricanes, but most seem to be negative.
Southern Fidelity Insurance Complaint Index Score
The National Association of Insurance Commissioners has a complaint index score that measures the number of confirmed complaints on file for an insurance company.
The national average index score is one, and Southern Fidelity’s complaint index score for 2021 is 39.60, meaning it accrued a score almost 40 times higher than the national average. It also had 168 confirmed complaints on file this year.
In 2020, their index score was far less at 2.49, and their score in 2019 was 15.63.
The number of complaints in 2021 likely resulted from damage caused by Hurricane Zeta, with many customers complaining about the company’s handling of the hurricane on Google.
2019 was also a severe storm year, as several other insurance companies accrued an unusually high number of confirmed complaints for that year.
In review, the amount of negative reviews left for Southern Fidelity coupled with an alarmingly high complaint index score is cause for concern when considering a policy with them.
Southern Fidelity Insurance Company in 2022: The Bottom Line
Southern Fidelity is a small insurance company bought out in 2020 by HSCM Bermuda, giving the company a strong financial backing that helped them recover from catastrophic payout years. The company still operates with its name and handles all its customer service relations.
Southern Fidelity has a solid online presence with several tools at the customer’s disposal. They have a very in-depth claims center that provides several resources on the claims process and a convenient claims filing tool.
There are several ways you can pay your premium, including through their website, over the phone, or through the mail.
Although it has strong financial backing, Southern Fidelity has received several poor reviews and an unusually high complaint index score.
Overall, Southern Fidelity could be a good insurance company for you if you have a hard time finding a company to insure you. However, there are troubling signs that if you have to file a claim with them, it may be a bumpy process.
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