We live in a state prone to hurricanes and other disasters. When researching insurance providers, it's critical to review the company's financial stability to ensure that they'll be there for you after the storm. In the last decade, more than ten homeowners insurance companies doing business in Florida have gone bankrupt, leaving policyholders with unpaid claims and no insurance for their homes.
It’s very important to us that we are able to pay our customers’ claims. This is why we have one of the most comprehensive reinsurance programs in the state. Based on our exposure, our protection provides Security First with enough reinsurance to withstand a hurricane four times the cost of Hurricane Andrew. Our multiple event protection allows us to withstand another 2004 hurricane season with four storms and still continue to grow our business.
To clearly illustrate our financial stability, we've created a handout that shows the impact to our company if historical, well-known hurricanes were to make landfall today. The handout also shows the amount of recovery funds we'd have left over to pay claims after the storms.
Learn more about our financial stability: Details of our Reinsurance Program
How can I evaluate the financial stability of insurance companies?
Reinsurance is the key to an insurance company's financial stability. It may sound complicated, but it doesn't have to be. We've created a section in our website to help you gain a clear understanding without having to decipher industry jargon. Please take a few minutes to learn more. We want you to be able to make an informed decision to protect your home and family—every year.