Olympus Home Insurance Review
In 2007 Olympus Insurance entered the Florida homeowners insurance market. At the time, Florida had just recovered from wicked back-to-back hurricane seasons. Many large insurance carriers exited the state with their tails between their legs, and Olympus was born. The company started by offering customizable homeowners policies with very competitive rates on Florida homes built within the last 20 years.
Seven years after their initial debut, Olympus joined the Citizens Insurance “takeout” program. The program relieves the state-run carrier of many high-risk property policies. By joining, Olympus gained a large number of policyholders and immediate name recognition across the sunshine state.
Olympus Insurance heavily markets its customizable homeowners package. Their products are uniquely designed to go beyond the basic property coverage options.
Olympus offers property and liability coverage for a variety of home values up to $5 Million Total Insurable Value (TIV). Olympus has a list of endorsements you can add-on to your policy:
- Increased Ordinance or Law
- Increased Personal Property
- Increased Mold Coverage
- Golf Cart Physical Damage + Liability
- Loss Assessment
- Permitted Incidental Occupancies (for at-home businesses)
- Personal Property Replacement Cost
- Structures Rented to Others - Other Structures (not attached to the main home)
- Personal Injury
- Scheduled Personal Property (for high-value items)
- Water Back-Up and Sewer Overflow
- Extended Dwelling Coverage (Coverage A)
- Animal Liability (as long as not a Bad Dog)
- Sinkhole Loss Coverage (with inspection)
- Identity Recovery
- Spartan Enhanced Coverage (see below)
- Increased Limits for Other Structures (screened pool enclosures, carports)
Spartan Enhanced Coverage
Olympus promotes the purchase of this enhanced coverage option for a good reason. The Spartan Enhanced Coverage means you’ll have more coverage in the following areas:
- Jewelry/Watches ($5,000)
- Firearms ($5,000)
- Trailers ($5,000)
- Refrigerated Food Loss due to Power Interruption
- Lock Replacement
- Water Backup
- Fire Department Service Charges ($1,000)
- Identity Fraud/Credit Card Theft
- Personal Liability
- Medical Payments
- Personal Injury
If you are looking to bump up your coverage in a very affordable way, look no further than the Spartan Enhanced Package.
Olympus Insurance runs its operations from Palm Beach Gardens, Florida. They know the Florida homeowners needs and wants. They are A-rated by Demotech and, since 2016, have been accredited with the Better Business Bureau (BBB) and maintain an A+ rating today.
Olympus customers can file an electronic claim form via their policyholder portal or by phoning the Olympus Claims Center: 866-281-2242.
Where is Olympus Insurance Available? (hint: sunshine)
Olympus is a carrier that’s strictly focused on creating customizable homeowners, condo, and landlord/rental policies. They’ve maintained their niche by offering unique add-ons and expansive limits. Their rates are very competitive if your home was built post Y2K. Although Olympus is a relatively new insurer in the Florida market, they offer a competitive product with excellent coverage.
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Disclosure: Olympus is one of the many options Young Alfred offers for home insurance. Young Alfred did not receive any compensation or direction from Olympus in writing this review.