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Universal Property & Casualty Insurance

UP&C started in one of the hardest home insurance markets - Florida. Since their founding in 1997, they have grown to be Florida's #1 home insurance carrier by premiums written, and have now expanded into 17 other states. They offer homeowners, condo, renters, and landlord policies, often at very competitive rates. Let's break down how their home insurance offering compares to the rest of the industry. 

The Products

UP&C's policies are based on the ISO standard forms (the same forms used by most of the industry). UP&C also offers most of the optional add-ons, including water back-up, mold coverage, and scheduled jewelry coverage

They cover homes with replacement values up to $1,000,000, and will often cover many of the hard-to-insure homes where other carriers will simply deny coverage. Many standard homeowners carriers will avoid flat roofs, lapses in coverage, certain dog breeds, coastal exposure, etc. UP&C relies on their pricing and extensive reinsurance relationships to competitively rate a wide spectrum of property. With State Farm and Allstate, when you ask for a quote, you often just get.

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The Pricing

Hands down one of the most competitively priced homeowners carriers, especially in coastal regions. At times, we see them at half the price of the next best priced carrier. They offer discounts for security and fire alarms, having prior insurance, updates to the property, and having no losses in the last 3 years.

The Carrier

Universal P&C is rated A by Demotech, and has a very sophisticated reinsurance program in place with over 50 highly rated partners. What this means is in catastrophic loss scenarios (such as Hurricane Irma), UP&C taps these partners to fund excess losses if needed. Universal Property & Casualty is a branch of Universal Insurance Holding Company of Florida, which is wholly owned by Universal Holdings, Inc. (NYSE: UVE)

The Claims

Policyholders can file a claim

They offer 24x7 claims support and have experience scaling up their operations during times of natural disaster (Florida gets a lot of hurricanes). In the event of a loss, customers should take photographs, do the minimal amount necessary to prevent further loss, and save any relevant receipts. While Universal Property & Casualty has paid out a lot of claims in FL, it seems with some customers, they still need to improve their turnaround times.

Where is Universal Property & Casualty Available

Universal Property & Casualty state coverage map

The Reviews

UP&C reviews have been improving and they currently sit at 3.6/5 stars on google with over 800 reviews. A newly implemented customer service process is likely helping their reviews improve as they grow and start scaling across different geographies. 

In summary, Universal Property & Casualty tends to compete when homes are hard to protect and often is very competitive on price. Their claims processing has some mixed reviews but they offer industry-standard coverages on home, condo, dwelling, and renters insurance. 

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At your service,
Young Alfred

Disclosure: UP&C is one of the many options Young Alfred offers for home insurance. Young Alfred did not receive any compensation or direction from UP&C in writing this review.