People’s Trust Insurance Company Review & Complaints: Home Insurance (2023)

It seems like more and more smaller insurance companies are being swallowed up by the larger companies in the insurance industry.

They either can not compete with the low national pricing or have difficulty maintaining financially given Florida’s troubled past with insurance claims. One way or the other, it seems you end up being insured by one of the big top three insurance companies in the nation.

These larger companies may offer the most competitive rates, but at what cost to the personal experience of buying insurance, a process where trust is gained from actual promises and not online signatures on contracts. And the worst part is that like most people, you will probably end up feeling like you got lost in the shuffle.

So what are your insurance options if you are looking for a smaller, more regional carrier in the Florida area?

People’s Trust Insurance Company is a homeowner’s insurance company operating locally in the sometimes-difficult Florida home insurance market. They came into the market at the same time as several other newcomers responding to larger insurers pulling out of the state.

If you are a Florida resident tired of big insurance and looking for a personable, regional carrier, then check out our free online quote engine and see what it would cost you to take out a policy today. You just type in your ZIP code above to get a FREE insurance quote.

What is People’s Trust Insurance Company?

People’s Trust Insurance was founded in 2008, and time when the homeowner’s insurance market in Florida was rocky after many difficult hurricane seasons. The company focuses entirely on homeowner’s insurance, offering two levels of coverage to include more homes.

The company is located in Deerfield Beach, Florida, and provides coverage to approximately 125,000 homes across the state. They ranked as the second fastest-growing company in Florida between 2012 and 2014, and employ about 300 people. Insurance coverage is offered through local independent agents, so finding specific quotes may be difficult.

What insurance products are offered?

People’s Trust writes only home insurance and offers two different products.

Homeowners Insurance (HO3) is a standard comprehensive policy, providing structure coverage as well as personal property and liability. The home itself is insured at replacement cost. Personal property is actual cash value unless the insured opts to increase coverage to the replacement cost level for an added premium.

This insurance policy is for owner-occupied homes and has stricter requirements for coverage than the other option, Basic Choice.

Basic Choice is what is known as a dwelling fire policy elsewhere. Homes that do not qualify for a homeowner’s policy will often qualify for this policy.

This product has more exclusions, but still covers the structure as well as providing personal property and liability. Basic Choice can be written for rental properties as well and offers protection for landlords.

Flood Insurance is also offered but is underwritten by another company on the authorization of FEMA.

Are the company’s rates affordable?

The company does offer online quoting but requires personal information as well as the creation of an account with the company. The system rejected our attempts to obtain rate information with a sample address and phone number.

The insurer does not appear in the Florida Office of Insurance Regulation’s rate charts, so we were unable to get an insurance rate comparison from that resource, either.

How are claims filed?

People’s Trust has a 24/7 toll-free claims reporting line offering an immediate emergency response.

The claims process operates on what the company calls its Rapid Recovery system, promising a fast resolution to claims large and small. After the insurance claim is filed, the Rapid Response team is dispatched if necessary to prevent further damage and assess the situation. In non-emergencies, the company will send out an adjuster as quickly as possible.

From there, the system is much the same as most insurance companies – coverage is determined and benefits are applied to the loss. The company promises a three-year satisfaction guarantee on all workmanship done by contractors in their network.

How to File a Claim

In the event of any claim, large or small, call the company first at 1-877-333-1230.

The Homeowner’s Assistance Card provided to each policyholder includes your policy number and the claim number to use in the event you have to file a claim.

The insurer has an affiliated Rapid Response Team that will begin the work of restoring your home and any damage for covered claims. They even offer a 24/7 emergency claims service.

What to do After a Loss Occurs

Call People’s Trust First – 877-333-1230. They will immediately dispatch a Rapid Response Team to help prevent further damage to your home. They emphasize that any delay could cause further damage and interfere with your claims process.

Report the loss to the Claims Department by calling 877-333-1230. The quicker you report your loss, the quicker they will respond by helping you put your life back together.

For a regional insurance company that sells only homeowner’s insurance, we found the claims section of the website to be clear and informative.

Does the company have positive ratings and consumer reviews?

People’s Trust has an A+ rating with the Better Business Bureau (BBB) with 68 customer satisfaction complaints on file in the past three years, 20 of which were filed in the past 12 months. They have been accredited since 2014. There are 43 reviews of the company on the BBB page, and the complaints are mostly focused on billing issues and policies being canceled without notice.

There are 42 reviews on Yelp, with a similar overall 1.5-star rating. Here we found several claims issues citing slow response. The company does take the time to respond to complaints on the Yelp page, which is in their favor.

The Office of Insurance Regulation does have data for People’s Trust in its complaints database. The most recent data is for the second quarter of 2018 and lists a complaint ratio of 1:1012, or one complaint for every 1,012 policies in force. The site also offers two similarly sized companies for comparison; the company has a complaint ratio that is lower than both.

Financially speaking, since People’s Trust is a regional insurance carrier, there is no information regarding their financial stability with the larger credit rating agencies like A.M. Best. However, Demotech, a smaller financial analyst company that rates insurance companies financial stability, granted the company a Financial Stability Rating® of A Exceptional.

The rating is the third-highest from Demotech, and it signals that the company is capable of paying out claims if damage or loss did occur today and in the near future.

What’s the Bottom Line?

There is not a lot of information on People’s Trust’s products, nor were we able to obtain rates. What we see in the complaints shows a company operating with fewer complaints than similarly sized competitors, which is a good thing and means that policyholders are satisfied. The company may be worth a look if you are having trouble finding home insurance in Florida, but there is a chance that those who qualify for a better-known company will get a better deal elsewhere.

The goal is to help you make informed decisions when searching for the best home insurance in Florida People’s Trust Insurance is a Florida insurer that offers homeowners and flood insurance and aims to be a partner to customers who have experienced a loss.

Are you in the market for competitive insurance prices from your regional Florida insurance company? Are you interested in getting a People’s Trust Insurance quote?

Either way, you can use our free online quote engine to get a jump start on the insurance purchasing process. You simply type in your ZIP code, and we guide you through the rest of the process. And just like that, you’ve got a list of detailed quotes for insurance companies in your area. It really is that simple.