Centauri Insurance

Centauri Insurance Company is a company that specializes in insurance.

Although Centauri Specialty Insurance Company is headquartered in Florida and founded by Universal Insurance, another Florida insurer, Centauri Specialty Insurance Company did not write policies in that state due to regulatory and profitability issues.

While establishing a reputation as a major hurricane insurance carrier in Hawaii, the company expanded into the Gulf region, writing homeowner's insurance in several states.

They've grown since their first hurricane insurance purchase in 2012. They currently write policies in the following states: Hawaii, Louisiana, Alabama, Mississippi, Texas, South Carolina, and Florida.

Quotes are not accessible online, and a network writes policies of independent agents. To represent the areas in which they actually write laws, they maintain offices in several states.

In Louisiana, the insurer is a participant in the Citizens Takeout scheme, which requires policyholders of Citizens, the state's last-resort property insurance provider, to transfer their policies to other insurers in an attempt to minimize the number of Citizens policies.

The company's website is currently working on a policy management system that will be accessible to policyholders eventually, but for now, policyholders can only pay their bills electronically. Other questions must be directed to an agent.

Avatar Insurance was supposed to buy the company, but the offer fell through during the COVID-19 pandemic. Due to the risks of uncertainty, Avatar has decided not to purchase the company.

What types of insurance are available?

Agents write a diverse selection of insurance policies for homeowners and tenants, including property and casualty policies with various policy styles and coverage levels.

Is there any Homeowners Insurance offered by the company?

Centauri writes traditional homeowner's insurance plans that cover the home, personal property, and liability insurance structure to defend against claims arising from injuries or negligence. Additional endorsements may be applied to the policies to secure high-value products like jewelry and paintings.

Is it possible to obtain Dwelling Fire/Landlord Insurance?

Dwelling fire insurance is intended to protect tenant-occupied buildings and the unique risks of renting a home. The basic policy requires coverage for the home, restricted personal property, landlord's appliances, and liability. Landlord plans also protect lost revenue if a property is unable to be leased.

Is Condo Insurance available?

The insurer creates plans specifically for condo owners. These rules cover structures that the condo association would not cover and personal belongings and liability.

Is it possible to get Tenants Insurance?

The firm creates insurance plans for renters that cover their personal belongings as well as liability insurance.

Is insurance for floods, earthquakes, and hurricanes available?

The business began as a hurricane and earthquake insurance provider in the Island State, and they still write such policies, but only in that state. They also write individual flood insurance plans and provide information about the National Flood Insurance Program.

What are the Centauri Insurance premiums?

Centauri Insurance does not currently have online quotes, making fast premium comparisons difficult. As a regional insurer that only provides property and casualty services, they cannot provide multi-line discounts that could help lower premiums. Expansion into many new states, on the other hand, means increased revenue and financial stability, which can ultimately lower premiums across the board over time. Because of the company's youth, there is little detail on their rates compared to those of other similar businesses.

Since brokers only offer insurance, commissions are likely to have a small impact on premiums instead of direct-buy insurance providers that do not pay commissions to agents.

Policyholders can log in to pay bills online through Centauri's website, but it's unclear what types of payment plans are available or whether full payment discounts are provided.

What is the procedure for processing claims?

Policyholders may phone in claims at any time of day or night using two 24-hour claim lines provided by the company. For Hawaii, there is one toll-free number and another for the mainland states. On the company's website, both phone numbers are listed.

There is currently no way to report claims online, either via a form or an email. For help with a claim, policyholders may email their insurance company or call directly to check on the status of their claim. Other needs, such as getting a copy of your policy documents or updating your profile, can be addressed by calling a service representative.

Although each claim is unique and will necessitate varying amounts of time and effort, the company guarantees that claims will be resolved as quickly as possible. Their simple claims process starts with the initial touch. It continues with the inquiry, which includes inspecting and photographing the damages, and concludes with the settlement and payment of benefits under policy limits. In each state, local claims adjusters are available to provide simple, personal assistance.

Are there a lot of customer complaints?

While the life insurance firm is not approved by the Better Business Bureau (BBB), it has a B+ ranking based on the BBB's multi-factor rating method. Just 13 grievances have been filed in the last three years, two of which have been resolved in the last 12 months. There have been no reported government measures against it. According to the BBB website, the bad ranking is due to 13 complaints lodged against them.

The insurer has yet to establish a solid reputation as a newcomer to the insurance industry with just a few years of experience. A quest for complaints reveals that many insurance customers know very little about the business. This makes it difficult to assess the customer experience.

Over time, a better image of the insurer's credibility is likely to emerge. Despite this, the lack of complaints is a positive sign for the company so far, as many new businesses experience complaints as their systems are set up and checked.

So, what's the bottom line here?

As a new insurer in the property and casualty industry, Centauri Specialty Insurance Co still needs to build a strong reputation with customers to give them peace of mind when selecting a casualty insurer. They should probably focus on improving their understanding of strong client relationships and providing high-quality customer support for their goods.

Their expertise in assisting homeowners in hurricane-prone areas can make them a good fit for those homes. Still, lower-risk homes would likely find better homeowner's insurance choices elsewhere, particularly with companies that offer multi-line discounts. This is particularly true in states where hurricanes and other major natural disasters are less likely, and where the insurance industry is strong and competitive.