I started Insurance Blog by Chris™ because I have a passion for insurance. Here at the blog, our job is to educate and inform people about the best insurance for them. Since then, we have grown into national brands with a large team of researchers helping people understand all forms of insurance.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Mar 16, 2021

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If you’re looking for information about People’s Trust Insurance grab a cup of coffee and dig in! Why?

Because you should NEVER  purchase an insurance policy without doing your due diligence.

The carrier you pick is an extraordinarily important decision for both you and your family. Let’s face it, no one wants to wind up with a poor insurance provider.

So, I bet you want to know just how trustworthy People’s Trust  Insurance Company is…Well, I’ve got the scoop!

People’s Trust Insurance is for Florida Residents ONLY!

First question… are you a Florida homeowner? If the answer is no, then People’s Trust Insurance Company OF FLORIDA can’t help ya’ – BUT…if the answer is YES…

I’ve got some great tips that will save you some serious time & money.

Unlike many of the larger insurers, People’s Trust Insurance Company has a rather narrow scope. They provide homeowner’s and flood insurance to people in Florida.

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Peoples Trust Insurance Products

When it comes down to it, your house is one of your most valuable assets and Peoples Trust Insurance knows that!
If you’re looking to cover this very important investment affordably, you’ll want to check out their selection of products.
They have a fairly limited offering that can be boiled down to three types of insurance policies:

HO3 Policy

People’s Trust Insurance Company has a “go to” homeowners policy known as the HO3 which provides the following coverage:

  • Insures your home for damage resulting from fire, wind, hail, theft, vandalism, water (not to be confused with flood insurance), and more
  • Includes personal property protection at actual cash value
  • Provides additional living expenses while your home is being repaired
  • For additional coverage, you have the option to insure high-value items
  • BUYER BEWARE: This policy doesn’t protect you from flood damage.

Basic Choice Policy

If you’re looking for a cheaper alternative, consider their Basic Choice Policy which covers the following:

  • Insures your home for fire, wind, hail, lightning, and more
  • Can be issued for a homeowner’s private-residence or tenant-occupied property
  • CAN’T be issued to a land trust, irrevocable trust, or a probate estate
  • Minimum six month lease
  • At the time of purchase, tenant must be living in the home

But remember, you get what you pay for and there are some negatives attached to buying a basic choice policy!

On the downside, the Basic Choice policy does NOT cover:

  • Water damage
  • Theft or vandalism
  • Damage caused by earth movements
  • Government action
  • Power failure
  • Neglect

Hey, I told you it was the cheaper option…I didn’t say it was the BEST option. Sometimes I think people get that confused.

Please note these are only basic details, make sure you check ALL of the specific features of each policy if you’re thinking about signing on the dotted line.

Flood Insurance

So why is flood insurance in its own category?

Because the two homeowner policies mentioned above DO NOT cover damage that results from flooding.

Hoo Boy! If you live in Florida this may be of particular interest to you!

Much of Florida is in a flood zone, so there’s a very good chance that this could cause problems for you somewhere down the road. If you’re interested in finding out if the area you live in is particularly vulnerable, there’s a flood zone map you should check out HERE.

….and to top it off:

U.S. law requires people to purchase basic flood insurance if they buy a home in a designated high-risk flood area with a federally backed mortgage. (See floodsmart.gov for more information.) But Hurricane Harvey showed recently that flooding can also damage properties outside the highest-risk zones and affect homeowners who weren’t required to buy the additional coverage. Wall Street Journal, What Homeowners Insurance Won’t Cover if a Hurricane Hits

So flood insurance is an add on you should MUST consider if you fall into a high risk zone.

Pros and Cons of People’s Trust

Pros:

  • File a claim 24/7
  • Rapid Response Team
  • Convenient payment options
  • Reinsurance
  • Prices

24/7 Claims Hotline

Hey, if there’s one thing we all can agree on, it’s that accidents can happen at very inconvenient times. Luckily, People’s Trust Insurance has a claims hotline available 24/7.

But unlike other kinds of insurance, they go one step further.

Let me explain.

Rapid Response Team

If you crash your car,  you gonna have to pay to get it towed, repaired and all that jazz. It’s pretty straightforward!

However, damage to your home is a different story. Burst pipes, structural issues and water damage may be ongoing.

To account for this, People’s Trust Insurance Company has a Rapid Response Team that they dispatch during an incident to prevent further damage.

The Rapid Response Team is actually a contracting company hired by People’s Trust Insurance to promptly assist their policyholders.

This way, you won’t need to go through the hassle of finding a contractor yourself.

Making Payments to People’s Trust Insurance is Convenient

Ok, no one likes to make payments…but people do like options.

If you’re a People’s Trust Insurance policyholder, you can set-up how and when your payments are deducted.

Feeling old school? You can just send a check to the company. Nothin’ wrong with traditional snail mail.

But for those of you that would prefer to pay without taking a trip to the post office, that’s fine too. You can satisfy your premiums online, over the phone, or set up an automatic Electronic Funds Transfer (EFT).

Sooo simple!

Plus, you can even choose a payment plan that suits your lifestyle:

  • Full payment
  • Two-payment installment plan
  • Quarterly-payment installment plan

Financial Stability

If you’re looking for a Peoples Trust Insurance rating, you’ll be searching in vain. This insurer isn’t a big enough operation to receive a rating from one of the more reputable agencies, like A.M. Best.

That being said, People’s Trust Insurance has an entire page on their website dedicated to informing readers about their financial strength.

Demotech Inc., albeit a lesser-known rating agency, gives People’s Trust an ‘A’ (exceptional) financial stability rating.

Haven’t heard of Demotech? Me either.

…I guess we’ll have to take this one with a grain of salt.

BUT, a People’s Trust Life Insurance Rating is a little less important because they cover themselves financially with reinsurance, which means they manage risk by purchasing insurance from a reinsurer.

So why is  ‘reinsurance’ important?

Well, it simply means People’s Trust Insurance can cover any large potential risks they bear from insuring others. It’s an effective way for homeowner’s insurance companies to maintain financial stability.

As a policyholder, this should give you some peace of mind that People’s Trust Insurance shouldn’t have issues paying out claims.

….at least from a financial perspective!

People’s Trust Insurance Prices

It’s time to get real and talk about money!  This is the aspect of any review that most people look for.

Drum roll, please …..

Thanks to their direct-sales system, People’s Trust Insurance is able to reduce your insurance premiums.

How do they do that?

Well, when you buy insurance directly from the provider, you don’t need to give a chunk of money to third-party agents.

Basically sales agent commissions have been cut out of the equation.

WARNING! NOT ALL INSURANCE COMPANIES ARE CREATED EQUAL

Sure, lower priced premiums separate People’s Trust Insurance from a lot of their competitors…

That being said, the cost of homeowner’s insurance is wildly unpredictable; there are so many factors that go into estimating your premiums that I can’t cover it all in this post.

The best advice I can give you – and this advice applies to ALL types insurance — is to get a variety of quotes! 

Yep! This will help you find the right insurer for your personal circumstances.

Trust me, this is the most effective way to get the best bang for your buck. Shop around, explore your options.

***Buyer Beware: If you want flood insurance you will have to purchase this product separately. I talk more about this in the cons section below.

OK, let’s get real – is there anything I should be on the lookout for with the company?

Cons:

  • Some Red Flags Connected to Malpractice
  • Negative Reviews
  • May Cost More Than You Think

People’s Trust Insurance Has Some Shady History

People’s Trust Insurance quickly established themselves as one of the top homeowner’s insurance providers in Florida.

…but there were some speed bumps along the way.

In 2009, the company ate a hefty fine for using unlicensed agents to sell their policies.

OUCH!

Plus, they’ve received some negative publicity for other violations, including un-filed rates.

While they’ve certainly cleaned up their act, their history of malpractice is concerning.

The People’s Trust Insurance Reviews Are Worrisome

People’s Trust Insurance Reviews are shall we say….

…a little less than positive.

People on the internet can be pretty harsh and every insurance company is going to get ripped on here and there. BUT….

Peoples Choice Insurance Bad Review

That being said, unfortunately, it seems like People’s Trust Insurance has a reputation for being non-responsive, late to handle claims, etc.

That’s too bad because they tout their “rapid response” as being one of their main selling points on the website.

It’s important to work with a company that DOES what they PROMISE!

The sentiments on the right are an example of what you’ll read when you look up consumer experiences.

You could say that this review isn’t fair, because the client is talking about damage resulting from a hurricane…

…what are the chances?

But, hey, this is Florida we’re talking about. For Floridians, the ability to handle these kinds of disasters is a must for insurance providers.

Peoples choice life insurance response

Bad customer service is more expensive than you think. Companies who want to be in business for the long haul will have to be serious about eliminating bad customer service. Learn the true impact of bad customer service and its affect on customer loyalty and satisfaction. Desk.com, The True Cost of Bad Customer Service

Is People’s Trust Insurance Coverage as Inexpensive as it Appears?

While an insurance policy may be cheap, it may not have the features to adequately protect you.

It’s a bit of a balancing act.

So… how valuable is a People’s Trust homeowner’s insurance policy?

We’ve already discussed that their policies are affordable and their most comprehensive offering covers your home for fire, wind, hail, theft, vandalism, water, and more…

….but you aren’t insured for floods.

 

Is People’s Trust Insurance Company for You?

So here’s my summary of what People’s Trust Insurance has to offer:

  • You can choose from three products: H03, Basic Choice, and Flood Insurance
  • They offer the services of a Rapid Response Team, which may not always be so rapid!
  • Flexible payment options and plans are available
  • Their direct-sales system will save you some money
  • The quote process is pretty smooth… if you’re from Florida 😉
  • Policyholders have left a disconcerting number of negative online reviews
  • They have some shady history, which seems to have been resolved 
  • The savings may not be all its cracked up to be once you buy flood insurance (if you live in an area where there is a need)