Kin Insurance CEO Sean Harper: Florida Home Insurance Prices Soar While Satisfaction Plummets
By Sean Harper, CEO and co-founder of Kin Insurance // July 21, 2020
Florida continues to outpace the rest of the U.S. with its high home insurance rates
BREVARD COUNTY, FLORIDA – Florida continues to outpace the rest of the U.S. with its high home insurance rates. It’s second only to Louisiana for highest premiums, according to data from the Insurance Information Institute and National Association of Insurance Commissioners (NAIC), and there’s no sign of the climb slowing.
As early as last quarter, many Florida insurance companies filed for “staggering” rate increases, according to Insurance Journal. This puts additional strain on homeowners who were already struggling to afford coverage and explains why customers report increasing dissatisfaction with their insurers in online reviews.
Based on publicly available reviews, most home insurance companies in Florida fail customer expectations.
The average review score for all providers in the state is 2.9 out of 5 stars, a score that falls below even a mediocre customer experience. Many reviews for low-rated companies cite expensive premiums and a bad claims experience.
This data correlates with Net Promoter Score averages for the industry. An NPS score indicates whether a customer would recommend a company to a friend.
The NPS average for the home insurance industry is 35 out of 100, a failing grade by any standard. It indicates most homeowners would not recommend their insurer.
With an NPS score of 84, Kin Insurance has demonstrated that customer satisfaction doesn’t need to be an afterthought in the insurance industry.
The Florida home insurance company has more than 800 reviews on Trustpilot and an average rating of 4.8 out of 5. Most customers cite an easy online buying experience, experts ready to answer every question, and savings of more than $500.
“We don’t think homeowners should settle for less when protecting their most valuable asset,” said Sean Harper, Kin Insurance CEO and co-founder.
“We designed our company from the ground up with the customer in mind, and if our reviews are any indication, that’s what it takes to fundamentally change the insurance experience.”
About the Author
Sean Harper is the CEO and co-founder of Kin Insurance, an insurance technology company that exists to change home insurance from what it is to what it should be. Kin instantly analyzes thousands of data points about each home to recommend the right coverage. Most homeowners can type in their address, confirm a few details, and get a customized quote in minutes. Kin specializes in providing affordable coverage to homeowners in regions prone to natural disasters. Previously, Harper founded FeeFighters, a payments company bought by Groupon, and TSS-Radio, an ecommerce company that became an Inc. 500 fastest-growing company. Learn more about Kin at www.kin.com, or visit their blog for home insurance trends and home safety tips. You can also connect with Kin on Twitter, Facebook, or LinkedIn.