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Geovera Insurance

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Company Details
Address:

4820 Business Center Drive, Suite 200

City:
Fairfield
State:
CA
ZIP Code:
94534
Phone Number:
877-448-5792
Year Founded
AM Best Rating:
A
Company Rating 0 (0 reviews)

Things to Remember...
  • they specialize in earthquake, windstorm, and hurricane insurance in several states prone to these types of natural disasters and weather systems
  • GeoVera Holdings has received an A for financial strength
  • The thing that is different about GeoVera compared to other catastrophe insurance companies is that they use state of the art software to determine risk

A review of Geovera auto insurance will lead you to GeoVera Holdings, Inc. of which GeoVera Insurance is a subsidiary.

Unfortunately, they do not carry any form of auto insurance but instead, they specialize in earthquake, windstorm, and hurricane insurance in several states prone to these types of natural disasters and weather systems.

Reviews of GeoVera Holdings are quite positive overall. Customer testimonials are key when dealing with this type of specialty insurance.

As with auto insurance claims, during times of catastrophes, people want to know that they have an insurance company that comes through and pays their customer’s claims.

Hearing from current customers confirms this.

Even though GeoVera does not have auto insurance, you can still compare auto insurance rates by entering your zip code in the box now!

Geovera Insurance and Customer Feedback

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Customers who have reviewed the company say that their claims have been paid consistently with little to no hassle.

Even though it can be time-consuming to get all the of the appropriate paperwork filled out and the claim filed, once that is done, claims tend to be paid in a timely manner with questions being addressed.

The one complaint about GeoVera that comes up consistently is the fact that it is difficult to get through to a customer service rep immediately following an earthquake or hurricane because so many people are trying to call in.

This is expected; however, customers report that messages are promptly returned.

As far as a financial review of the company is concerned, GeoVera Holdings has received an A for financial strength.

This rating is given by an independent company and it means that the company, overall, is financially strong and able to meet its obligations to its clients when claims are filed. An A- rating is considered an excellent rating.

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GeoVera Insurance History

GeoVera Holdings was started in 1995 with the idea that catastrophe-prone areas still needed quality coverage that was affordable.

The company was founded by a law firm that handled many cases from clients who lost their homes or businesses because their catastrophe insurance company did not do what they were supposed to do.

The holding company consists of GeoVera Insurance Company, GeoVera Security Insurance Company, GeoVera Specialty Company, GeoVera, and Pacific Select Property.

Together these companies offer coverage for earthquakes, hurricanes, and windstorms in:

  • Washington
  • Oklahoma
  • California
  • Texas
  • Louisiana
  • Arkansas
  • Missouri
  • Illinois
  • Indiana
  • Ohio
  • Mississippi
  • Alabama
  • Tennessee
  • Georgia
  • Florida
  • South Carolina
  • North Carolina
  • Virginia

The thing that is different about GeoVera compared to other catastrophe insurance companies is that they use state of the art software to determine risk.

Using this software, they can estimate your premium costs based on weather and natural disaster trends from the last decade. This ensures that you will have the right amount of coverage.

In addition to their software, they also use information from insurance databases, statistics and weather patterns to set the amount of coverage you need.

Obviously, the closer you are to a danger zone, the more your premium will be, but GeoVera strives to make their insurance products affordable.

GeoVera Insurance Products

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First of all, it is important to understand that many products of GeoVera fall into the “admitted insurance” category.

This means that they are admitted into the state’s Department of Insurance and therefore they must report their financials to the department and get the department’s approval for the limits they set on their policies.

Being admitted is good because it causes accountability, but it can also become political.

This is due to the fact that the insurance industry lobbies the Department of Insurance in every state to change insurance industry laws.

Being an admitted insurance company means that the government can be influenced to make decisions only for those who are admitted.

Second, it is also important to understand that the rest of GeoVera products fall into the category of Surplus Lines of Insurance.

This categorization means that the insurance is so specialized some states or carriers won’t take on the risk of writing a policy.

The surplus lines take on the risk through a broker and are licensed in several states instead of just one.

Understanding these two categories helps to better understand the products. The

The products offered by GeoVera are admitted earthquake, surplus lines homeowners, surplus lines earthquake, admitted windstorm and admitted hurricane. Not all products are offered in all states.

To compare auto insurance rates, enter your zip code in the free box now!

  1. http://www.geovera.com
  2. http://www.geovera.com/GetPrepared.aspx
  3. https://www.mygeosource.com/ClaimsHelp.aspx
  4. http://www.geovera.com/Contact.aspx
  5. http://www3.ambest.com/ratings/entities/CompanyProfile.aspx?amb=12075&AltNum=44012075
  6. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2729870/
  7. http://www.geovera.com/Earthquake-About.aspx

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