What is Velocity Insurance and how does it work in Florida?

Velocity Insurance is a specialized provider of property insurance for high-risk coastal areas in Florida, with a focus on covering homes valued over $750,000.

Unlike traditional home insurers, Velocity Risk is not bound by the same geographic restrictions and can offer coverage in areas that often struggle to find protection.

Velocity's policies include both wind and hail coverage, eliminating the need for Florida homeowners to purchase separate windstorm insurance.

The company is backed by substantial capital from AM Best "A" rated national specialty insurance carriers, allowing them to remain in the high-risk coastal market long-term.

Velocity utilizes an online platform that enables quick and customizable quoting, letting customers easily compare coverage options based on their specific needs.

In addition to home insurance, Velocity also offers commercial property, rental property, and other specialty insurance products tailored to Florida's unique risk profile.

Velocity's underwriting approach emphasizes a "common-sense" model, rather than relying solely on rigid geographic restrictions common among traditional insurers.

The company's commitment to customer service is evident through various online resources and support, helping clients understand their policies and navigate the claims process.

Velocity is licensed to operate as Velocity Risk Insurance Agency LLC in certain states, including California, Nevada, and New York, in addition to Florida.

Velocity's policies are underwritten by non-admitted carriers, which are not subject to the same regulatory oversight as standard insurance companies but can offer more flexibility.

Reviews of Velocity Insurance highlight positive experiences with the company's claims handling, policy management, and overall customer satisfaction.

As a specialized coastal insurer, Velocity's rates and coverage options may differ significantly from traditional home insurance providers in Florida.