Loggerhead Insurance Review: Replacement for Florida Progressive Customers
Loggerhead Insurance is a new home insurance company, but it has good rates and coverage.
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Is Loggerhead a good insurance company?
Loggerhead Insurance may be a good company if you're trying to find coverage after Progressive canceled your policy or if you're trying to switch from Citizens Insurance. However, because it's a new company, it doesn’t have a long track record of positive customer reviews.
Also, if you're just looking for the best rate, you might want to look at other Florida homeowners insurance companies.
Progressive has partnered with Loggerhead to offer home insurance to Floridians who had policies canceled by Progressive.
However, you don't have to get insurance from Loggerhead if you're a former Progressive customer. If Progressive sent you a nonrenewal notice, you should shop for quotes from multiple companies. That's usually the best way to make sure you're getting reliable customer service and the coverage you need at an affordable price.
Pros and cons
Pros
Lots of coverage options
Financially stable
Good discounts on coverage
Cons
Can't compare quotes online
Newer company with few customer reviews
What is Loggerhead Insurance?
Loggerhead Insurance may be worth checking out if you're a Florida homeowner having a hard time finding coverage elsewhere. It's also a good option for Progressive customers losing their coverage.
As a newer insurance company, Loggerhead doesn't have an established reputation for great customer service. Choosing a larger company with a strong history of happy customers may be a better choice.
Loggerhead is a home insurance company founded in 2022, based in Tampa, Florida.
Loggerhead sells policies through independent insurance agents throughout Florida. That means you'll need to contact a local agent to get a quote from Loggerhead. Independent agents sell insurance from multiple companies. So you'll be able to compare quotes from other companies at the same time.
Although it's a newer company, Loggerhead is on good financial footing. It earned an A or "Excellent" score from Demotech. That means it should be able to pay out claims, even if Florida experiences a big disaster.
Loggerhead is what's called a reciprocal insurance exchange, which means its customers own it. Unlike other insurance exchanges, Loggerhead says its customers won't have to pay higher rates if the company isn't performing well. However, you could get a payout if the company is doing well financially.
Loggerhead home insurance coverage
Loggerhead offers three levels of home insurance coverage: essential, enhanced and elite.
Talk with your insurance agent to see which option will best fit your needs based on your budget, location and unique risk factors or concerns.
Essential coverage
Essential coverage includes the standard home insurance coverage you would find at a major insurance company. Essential coverage from Loggerhead comes with:
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Dwelling coverage, which pays for damage to the structure of your home.
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Personal property coverage, which pays to replace your belongings if a covered event, like a fire, damages them.
This coverage is based on the current condition of your things, including wear and tear. This is also called actual cash value. That means you won't get enough money to replace your stuff with new things.
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Personal liability coverage, which protects you if you hurt someone or damage their property by accident.
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Other structures coverage, which pays for damage to structures on your property, like a detached garage, shed or fence.
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Loss of use coverage, which pays for many of the costs of living away from home if your house is damaged and unsafe. This can include a hotel or rental home, moving expenses and the cost of meals if your rental doesn't have a kitchen.
Enhanced coverage
Enhanced coverage includes all of the protection you get with the essential coverage package, along with a few coverage upgrades like the ones listed below.
- Replacement cost coverage pays to replace damaged things with new items.
- Water backup coverage pays for water damage caused by a backed-up pipe or sewer or a broken sump pump.
- Animal liability coverage pays for damage or injuries caused by your pet.
- Refrigerated property coverage pays to replace spoiled food in your fridge or freezer after a power outage.
- Ordinance and law coverage pays to update your home based on current building codes after damage.
Enhanced coverage also comes with higher limits for personal property, personal liability and loss of use.
Elite coverage
Loggerhead's Elite package comes with the coverage included in the essential and enhanced packages. It offers higher coverage limits than the other packages, along with a few extra types of coverage. Most importantly, it's the only package that includes full replacement cost for your roof. Homeowners with elite coverage should have to pay the least if they need a new roof after a windstorm.
Homeowners with elite coverage also benefit from a lower deductible if they have a major loss. However, Loggerhead doesn't give examples of what a large loss is or how much your deductible will be.
This coverage is called Loggerhead Shield. It pays for injuries, property damage and legal fees if your gun is discharged by accident, used in self-defense or used while lost or stolen.
However, personal liability coverage typically includes gun liability. Gun owners should check with their insurance company to see whether they're already protected.
Loggerhead home insurance discounts
Loggerhead offers Florida homeowners several ways to save on their home insurance rates, like discounts for seniors and newly built homes.
Loggerhead also gives Florida homeowners a wind protection discount if their home has certain features that protect it from wind damage.
The wind protection discount is based on:
- The type of protection you have for windows, doors, sliding glass doors, skylights and garage doors. This may include things like hurricane shutters or window film.
- The age of your roof, its building material and its shape. For example, a newer roof should earn a bigger discount since the weather's less likely to damage it.
- How your roof is attached to your home's frame, also known as the roof-deck attachment.
- The type of fasteners used to connect the roof to your home's walls.
- Whether you have a water-resistant liner under your shingles.
- Whether your home meets the 2001 Florida Building Code (FBC). If your home was built after March 1, 2002, it meets this standard. Older homes can also get this discount with certain windstorm mitigation upgrades.
Loggerhead Insurance reviews and ratings
Loggerhead Insurance only started selling home insurance in 2022, so it doesn't have a lot of customer reviews to help you decide if it's a good insurance company. However, it gets 63% fewer complaints than average, according to the National Association of Insurance Commissioners (NAIC). This means homeowners should find it easy to file and settle their claims.
Loggerhead earned an A financial strength score from Demotech. That means it should be able to pay out claims, even if Florida has a major emergency.
While an A rating is considered "Excellent," it is the third-highest rating from Demotech. Loggerhead doesn't have a rating from AM Best, the industry leader in financial strength ratings. This is likely because Loggerhead is a newer company. If you're concerned about the financial strength of your home insurance company, you may want to shop around.
Floridians should also compare quotes from companies with a longer history of reliable customer service and financial stability.
You should look for companies with an A+ financial strength rating from AM Best and positive customer service reviews, like American Modern and Nationwide.
Frequently asked questions
Is Loggerhead Insurance legitimate?
Yes, Loggerhead Insurance is a home insurance company in Florida. Loggerhead was founded in 2022, so it doesn't have a long history of dependable customer service like you'd expect from a major insurance company. That said, the company has been responsive to complaints and concerns filed through the Better Business Bureau (BBB), even though it's not a BBB-accredited business.
Loggerhead should be able to pay out claims even if Florida has a major weather event, according to Demotech, which rates insurance companies based on their financial stability.
Who owns Loggerhead Insurance?
Loggerhead is a what's called a reciprocal insurance exchange, which means its customers own it. This is somewhat common among insurance companies. Both Farmers and USAA are also reciprocal insurance exchanges.
If Progressive cancels my home insurance, do I have to switch to Loggerhead?
No. Loggerhead has only agreed to offer coverage to Progressive customers whose policies have been canceled. You should still compare quotes from other Florida insurance companies before making a decision.
Is Loggerhead Insurance a good option if I'm switching from Citizens?
Loggerhead may be a good choice if you're switching from Citizens Insurance. However, you'll still want to talk with your insurance agent and compare quotes from different companies to make sure it's the best choice for your needs.
Sources
The financial stability information comes from Demotech. Information about the number of customer complaints received is from the National Association of Insurance Commissioners (NAIC) and the Better Business Bureau (BBB).
Lindsay Bishop
Senior Writer
Lindsay Bishop is a Senior Writer at ValuePenguin, where she educates readers about home, auto, renters, flood and motorcycle insurance.
Lindsay began her career in the insurance and financial industry in 2010. She was a licensed auto, home, life and health insurance agent and held Series 6 and 63 financial licenses.
After a hiatus from the financial sector, Lindsay returned to the industry as a content writer for ValuePenguin in 2021. She enjoys having the opportunity to help readers make smart decisions about their insurance so they can be prepared for anything life throws their way.
When Lindsay isn't writing about insurance, you can find her spending time with family, enjoying the outdoors on Sunday long runs or riding her Peloton.
How insurance helped Lindsay
As a homeowner for 15 years located in South Carolina, Lindsay has plenty of experience navigating the coastal insurance market and managing the claims process. That includes successfully negotiating a full roof replacement claim.
Expertise
- Home insurance
- Car insurance
- Flood insurance
- Renters insurance
- Motorcycle insurance
Referenced by
- CNBC
- Yahoo Finance
- Miami Herald
Education
- BS/BA Economics, University of Nevada Las Vegas
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
