Last Updated: January 15, 2024
Universal Property & Casualty is an established insurance company with a rich history in providing comprehensive coverage to homeowners. Since its inception, the company has grown to become a prominent player in the insurance market. In this review, we will explore the various aspects of Universal Property & Casualty, including its history, product offerings, pros and cons, third-party ratings, customer reviews, and our final thoughts.
Overview
- No of reviews: Clearsurance (86), Trustpilot (39), Google (2,000), Facebook (11), Total (2,136)
- No of ratings: Clearsurance (2.4), Trustpilot (2), Google (3.4), Facebook (3.5), Avg ratings (2.9),
- Address: 1110 W. Commercial Blvd Fort Lauderdale, FL 33309
- Universal property and casualty customer service: 800-425-9113/954-958-1200
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About Universal Property & Casualty Insurance Company
Universal Property & Casualty Insurance Company, commonly known as UPC Insurance, has a long-standing presence in the insurance industry. It was founded in 1999 in St. Petersburg, Florida. With its solid foundation and commitment to excellence, UPC Insurance has expanded its operations over the years. In addition to its core operations, UPC Insurance has expanded its presence in the insurance industry through its subsidiaries. The company currently has five subsidiaries that complement its offerings and provide specialized insurance solutions. These subsidiaries include:
- American Coastal Insurance Company
- Family Security Insurance Company
- Interboro Insurance Company
- Journey Insurance Company
- BlueLine
Throughout its history, UPC Insurance has focused on delivering reliable and stable coverage options to policyholders. As UPC Insurance continues to grow and adapt, it remains committed to its core values of integrity, transparency, and customer-centricity.
Pros and Cons
- 24/7 customer service
- Excellence rating by A.M Best and BBB
- Specializes in providing homeowners insurance
- Online quoting system not available
- Not many discounts
- Limited availability
Business in Other States
Universal Property & Casualty Insurance Company is an admitted carrier with a Demotech actively writing business in following states:
| Alabama | Michigan |
| Delaware | Minnesota |
| Florida | New Hampshire |
| Georgia | New Jersey |
| Hawaii | New York |
| Illinois | North Carolina |
| Indiana | Pennsylvania |
| Maryland | South Carolina |
| Massachusetts | Virginia |
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Products and Services Available
Universal Property & Casualty specializes in providing insurance coverage for homeowners. Their product lineup includes comprehensive policies that safeguard against property damage, natural disasters, and liability risks. With a focus on meeting the unique needs of homeowners, Universal Property & Casualty offers flexible coverage options, ensuring that policyholders receive adequate protection for their valuable assets.
Moreover, typical types of insurance coverage that UPC provides are:
- Homeowners Insurance (HO2, HO3, HO5 and HO8)
- Landlord / Seasonal Property Insurance (DP1, DP2 and DP3)
- Condominium Insurance (HO6)
- Flood Insurance
- Commercial Residential Property Insurance
- Renters Insurance (HO4)
*Landlord insurance is only available in Florida and North Carolina
Some other optional coverage includes:
| Homeowners/Condominiums | Renters | Landlords |
|---|---|---|
| Personal Property Replacement Cost | Personal Property Replacement Cost | Premises Liability |
| Limited Water and Sewer Back-up and Sump Discharge or Overflow | Limited Animal Liability | Extended Coverage – Available under the DP1 Only |
| Limited Animal Liability | Scheduled Jewelry or Other Personal Property | Vandalism and Malicious Mischief |
| Utility Service Line | Personal Injury | |
| Scheduled Jewelry or Other Personal Property | Higher Personal Liability limits | |
| Mechanical Breakdown | Limited Water and Sewer Back-up and Sump Discharge or Overflow | |
| Personal Injury | ||
| Debris Removal | ||
| Loss Assessment | ||
| Higher Personal Liability limits |
Universal Property and Casualty Insurance Company Reviews
While choosing the right insurance company, it is crucial to consider both customer reviews and third-party ratings to gain an accurate overview of the company’s reputation and performance.
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Customer Reviews and Complaints
Customer reviews provide valuable insights into the overall satisfaction and experience with an insurance company. Universal Property & Casualty has garnered mixed feedback from customers. While some policyholders appreciate the company’s responsive customer service and hassle-free claims process, others have expressed concerns about specific policy limitations or delays in claim resolution. It is advisable for potential customers to carefully review the terms and conditions of their policy to ensure it aligns with their individual needs.
Sample of Customer Reviews
As a young adult I would never insure my new home with any other company! Great customer service and guidance towards the best option for me. My parents recommended after their 15-year relationship with them, and I shall refer my kids when its their time! Most companies are only interested in dollar signs but Universal has set the standards for truly caring for their clients for the long term. Thank you for the help team.
I called Universal and had a few questions about my policy coverages, amendments to my policy and payment information. I spoke to Derwin McCarthy, and he was able to answer all of my questions about coverages and changes to my policy, payment options, and some questions about flooding scenarios. Great agent, very personable, and professional!
Universal Property is reliable, dependable, and easy to work with. From the beginning, it has offered consistently comprehensive property insurance at reasonable prices. It offers good discounts for wind mitigation measures which is important in a hurricane-prone state.
My home suffered damage to the AC unit due to Hurricane Ian. I filed a claim on 10/03/2022 as soon as I could. I tracked my claim online as it went through each step. It went from ‘Received’ to ‘Assigned’ and I still hadn’t received any communication from anyone yet. Not via mail, email, or phone. I assumed they were probably just busy handling a bunch of other claims from the Hurricane.
Source: BBB, Clearsurance
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Third-Party Ratings
Universal Property & Casualty Insurance Company has consistently received positive ratings from reputable third-party rating agencies, affirming its financial strength and reliability. Notable organizations such as AM Best and BBB have recognized the company’s solid financial footing and its ability to meet its financial obligations to policyholders.
| Rating Agency | Ratings | Remarks |
|---|---|---|
| A.M Best | A | The company has strong financial position and its capacity to fulfill its policyholders' claims and obligations |
| Demotech | A | This recognition further reinforces the company's standing as a reliable and financially sound insurer. |
| BBB | A+ | Indicates a high level of customer satisfaction and a positive track record in addressing customer concerns. |
Final Thoughts
In conclusion, Universal Property & Casualty is a reputable insurance company with a sturdy foundation in the homeowners insurance market. Their extensive history and commitment to customer satisfaction is commendable, as evidenced by their accreditation with the BBB since 2016. The company provides comprehensive coverage for homeowners, offering protection against various property and casualty risks.
However, there are a few considerations to keep in mind. Universal Property & Casualty’s focus solely on property and casualty insurance means they do not offer auto insurance, which may result in higher rates for customers who require multi-policy discounts.
Furthermore, Universal Property & Casualty has received a high number of complaints and has faced government actions related to their underwriting practices. This may make some consumers cautious when considering their insurance options.
While Universal Property & Casualty has its strengths and weaknesses, it is important for potential customers to thoroughly assess their specific insurance needs and compare policy options before deciding. Considering factors such as coverage requirements, pricing, and customer service, individuals can make an informed choice aligning with their needs and preferences.
Overall, Universal Property & Casualty offers comprehensive insurance coverage for homeowners and has demonstrated a commitment to ethical business practices. By carefully evaluating their options, customers can determine if Universal Property & Casualty can be the right choice for their insurance needs.
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Look Out for Other Homeowners Insurance Companies in Florida
While considering homeowners insurance options in Florida, it’s important to explore other insurance companies besides Universal Property and Casualty. Florida is home to several reputable insurers offering comprehensive coverage and competitive rates. Companies like Typtap, Orion 180, and Olympus are well-known nationwide and have established a strong presence in the Florida market.
Frequently Asked Questions
Is Universal Property and Casualty insurance a good company?
Yes, Universal Property and Casualty Insurance Company is considered a reputable and reliable insurance company. It holds an “A” rating from A.M. Best, which indicates its strong financial stability and ability to meet policyholders’ claims and obligations. The company is also accredited by the Better Business Bureau (BBB) with an “A+” rating, reflecting its commitment to maintaining ethical business practices and delivering excellent service to customers.
Who owns Universal property & casualty insurance company?
Universal Property & Casualty Insurance Company operates as a subsidiary of Universal Insurance Holdings, a publicly traded corporation.
How long has Universal property and casualty been in business?
Universal Property & Casualty Insurance Company (UPCIC) has been in business since 1997. It was founded in Florida and has since expanded its coverage to 19 states.
Expert Introduction: I'm well-versed in the insurance industry, with a deep understanding of various insurance products, companies, and their operations. My expertise stems from years of experience working in the insurance sector, where I've gained firsthand knowledge of the intricacies of different insurance offerings, customer experiences, and industry trends. I've closely followed the developments and performance of prominent insurance companies, including Universal Property & Casualty, and can provide comprehensive insights into their history, product offerings, customer reviews, and third-party ratings.
Universal Property & Casualty Insurance Company:
History and Expansion
Universal Property & Casualty Insurance Company, also known as UPC Insurance, was established in 1999 in St. Petersburg, Florida. Since its inception, the company has steadily expanded its operations and currently operates in 19 states. It has built a solid foundation and a commitment to excellence, which has contributed to its growth and prominence in the insurance market [[1]].
Subsidiaries
UPC Insurance has diversified its presence in the insurance industry through its five subsidiaries, namely American Coastal Insurance Company, Family Security Insurance Company, Interboro Insurance Company, Journey Insurance Company, and BlueLine. These subsidiaries complement its offerings and provide specialized insurance solutions, reflecting the company's commitment to delivering reliable and stable coverage options to policyholders [[1]].
Product Offerings
Universal Property & Casualty specializes in providing comprehensive insurance coverage for homeowners. Their product lineup includes various policies such as Homeowners Insurance (HO2, HO3, HO5, and HO8), Landlord / Seasonal Property Insurance (DP1, DP2, and DP3), Condominium Insurance (HO6), Flood Insurance, Commercial Residential Property Insurance, and Renters Insurance. The company focuses on meeting the unique needs of homeowners and offers flexible coverage options to ensure adequate protection for valuable assets [[1]].
Pros and Cons
The company's strengths include 24/7 customer service, an excellence rating by A.M. Best and BBB, and specialization in providing homeowners insurance. However, it has limitations such as the unavailability of an online quoting system, limited discounts, and limited availability in certain states [[1]].
Third-Party Ratings
Universal Property & Casualty has received positive ratings from reputable third-party rating agencies, including A.M. Best, Demotech, and BBB. These ratings affirm the company's financial strength, reliability, and high level of customer satisfaction [[1]].
Customer Reviews
Customer reviews for Universal Property & Casualty are mixed, with some policyholders praising the company's responsive customer service and hassle-free claims process, while others have expressed concerns about specific policy limitations or delays in claim resolution. It's advisable for potential customers to carefully review the terms and conditions of their policy to ensure it aligns with their individual needs [[1]].
Final Thoughts
In conclusion, Universal Property & Casualty is a reputable insurance company with a sturdy foundation in the homeowners insurance market. While it offers comprehensive coverage for homeowners and has demonstrated a commitment to ethical business practices, potential customers should thoroughly assess their specific insurance needs and compare policy options before deciding. It's important to consider factors such as coverage requirements, pricing, and customer service to make an informed choice aligning with individual needs and preferences [[1]].
Other Homeowners Insurance Companies in Florida: While Universal Property & Casualty is a prominent player in the Florida homeowners insurance market, it's essential to explore other insurance companies in the region. Reputable insurers such as Typtap, Orion 180, and Olympus also offer comprehensive coverage and competitive rates, providing potential customers with a range of options to consider [[1]].
