Southern Oak Insurance Review

Company Overview

Southern Oak Insurance Overview

The company is committed to supporting its policyholders through robust customer service options and a variety of policy add-ons that enhance protection. From hurricane mitigation features to identity theft coverage, Southern Oak strives to provide security and peace of mind to every insured homeowner, reflecting their deep understanding of Florida’s insurance landscape.

• Specialized in Florida homeowners insurance, addressing local needs and risks.
• Offers a broad range of policies including Homeowners, Renters, Condo, and Rental Property Insurance.
• Extensive discounts available, such as for hurricane mitigation and modern roofing.
• Additional coverage options like Identity Theft and Optional Flood Insurance enhance policyholder security.

Southern Oak's dedication to Florida residents is evident in its targeted insurance products and discounts. Their services are designed to provide not just insurance, but a comprehensive safety net that protects against the unique environmental and social challenges Floridians face.

Financial Stability

Southern Oak Insurance Financial Summary Table

Reporting Period

Net Admitted Assets

Policyholders Surplus

Gross Premiums Written

Net Premiums Written

3/31/2024

$237,202,779

$78,174,065

$69,618,547

$55,442,713

12/31/2023

$204,042,846

$64,286,501

$268,734,790

$157,702,144

12/31/2022

$159,538,993

$44,844,866

$189,733,994

$121,914,079

Products and Packages

Southern Oak Products and Packages

Southern Oak Insurance offers a diverse range of products designed to meet the specific needs of homeowners in Florida. Their offerings include standard homeowners insurance as well as specialized policies for condo owners, renters, and landlords. This allows residents to select coverage that best suits their property type and lifestyle.

In addition to basic coverage, Southern Oak provides various policy add-ons that extend protection. These enhancements are tailored to address common risks in Florida, such as hurricanes and floods, along with unique concerns like identity theft, showcasing their commitment to comprehensive coverage.

• Homeowners Insurance
• Renters Insurance
• Condo Unit Owners Insurance
• Rental Dwelling Property Insurance
• Identity Theft Coverage
• Hurricane and Flood Coverage Add-ons

Standard Homeowners Policy

The Standard Homeowners Policy from Southern Oak covers all the essentials of home insurance, including dwelling, personal property, general liability, and additional living expenses, ensuring that homeowners are protected against a broad range of potential risks.

Premium Packages: Acorn & Canopy Protection

The Acorn and Canopy Protection Packages offer enhanced levels of coverage. These premium options include increased limits on various coverages and additional protections not typically available in standard policies, making them ideal for those seeking more comprehensive insurance solutions.

Optional Flood Policy

Southern Oak’s Optional Flood Policy complements the standard homeowners insurance by providing necessary coverage in the event of flood damage. This is crucial in Florida, where the risk of flooding is significant, and regular homeowners policies do not typically cover flood damage.

Pricing & Premiums

Southern Oak Premiums

The cost of homeowners insurance in Florida, including policies offered by Southern Oak, has been on the rise, largely due to the state's high risk of natural disasters like hurricanes and the increasing costs associated with claims and litigation​​​​. As of 2024, the average homeowner in Florida can expect to pay around $2,625 annually, with monthly costs averaging about $219​​. This represents a significant increase over previous years, reflecting the challenging insurance market in the state.

Despite these market-wide increases, Southern Oak Insurance offers competitive pricing tailored to the unique needs and risks faced by Florida residents. They provide a range of homeowner insurance products and emphasize discounts and coverage options that can help mitigate these costs. Their policy offerings are designed to cater to the diverse needs of Florida homeowners, from standard policies to more comprehensive packages that include flood and hurricane damage protections​​​​.

• Homeowners insurance rates in Florida are rising, with annual averages around $2,625.
• Southern Oak offers competitive rates tailored to the specific challenges of the Florida market.
• Discounts and comprehensive coverage options are available to help manage costs.

For more detailed information and to get a specific quote that reflects all available discounts and options, it's advisable to directly contact Southern Oak or visit their website. This will provide the most accurate and tailored information regarding premiums and coverage options.

Discounts and Credits

Southern Oak Discounts and Offers

Southern Oak Insurance provides a variety of discounts aimed at reducing the cost of homeowners insurance for Florida residents. These discounts are designed to reward secure living environments and risk-reducing behaviors, making insurance more affordable for those who invest in safety and security measures for their homes.

• Hurricane Mitigation Discounts: For homes equipped with wind-resistant features, such as storm shutters or reinforced roofing materials.
• Roof Discounts: For newer roofs or those made from certain impact-resistant materials that meet specific safety standards.
• Home Alert Discounts: For homes with installed burglar alarms, fire alarm systems, and water leak detection systems.
• Electronic Policy Management Discount: For opting to manage insurance documents electronically.
• Senior/Retiree Discounts: Available to policyholders who are seniors or retirees meeting certain age criteria.
• Secured Community Discounts: For homes located in gated communities or those with 24-hour security.

These discounts reflect Southern Oak's commitment to supporting homeowners who take proactive steps to protect their properties in a state known for its severe weather conditions and other risks. For more detailed information on qualifying for these discounts, homeowners should contact Southern Oak directly or visit their website.

Eligibility & Underwriting Requirements

Eligibility & Underwriting Requirements

To secure homeowners insurance with Southern Oak, applicants must meet certain criteria that reflect the specifics of insuring properties in Florida's unique environment. These prerequisites are designed to ensure both the homeowner and the insurer are adequately protected against common risks.

• Florida Residency: Applicants must own a home in Florida.
• Property Inspection: Properties may require an inspection to assess risk factors and eligibility.‍
• Compliance with Local Building Codes: Homes must comply with local building codes, especially concerning windstorm protections.

Documents Required

When applying for homeowners insurance with Southern Oak, several documents are required to verify ownership, assess property value, and determine risk factors. These documents help streamline the application process and ensure accurate coverage.

• Proof of Ownership: Such as a deed or mortgage agreement.
• Property Details: Including recent tax assessments or a home appraisal.
• Insurance History: Details of previous homeowners insurance policies and claims history.‍
• Personal Identification: Typically a driver's license or state ID.

Application Process

Application Process for Southern Oak Insurance

Starting your application for homeowners insurance with Southern Oak Insurance involves a straightforward, user-friendly process. Initially, applicants need to provide detailed information about their property, including location, property type, and any relevant safety features or risks. This can typically be done online or directly through an agent, ensuring all necessary details are captured accurately.

The next step often includes a property inspection to confirm details and assess any specific risks associated with the property, ensuring compliance with Florida's building and safety regulations. Once all the information is verified and the inspection is completed, Southern Oak will provide a quote based on the assessed risk and coverage requirements. Upon agreement, the policy can be finalized and activated.

If you're looking for guidance through this process, Worth Insurance is here to assist you. As partners with Southern Oak Insurance, we specialize in simplifying the application process and ensuring that you receive the coverage that best suits your needs. Contact us today for a free quote and expert assistance. Visit Worth Insurance's Contact Page to get started.

Customer Reviews & Service

Southern Oak Customer Service

Southern Oak Insurance is known for its attentive and responsive customer service, crucial for homeowners navigating the complexities of insurance in hurricane-prone Florida. Their team is dedicated to providing timely and efficient support to ensure policyholder satisfaction and trust.

• Phone: You can reach their customer service team at (877) 900-3971.
• Email: Specific email addresses aren't listed publicly, but you can use the contact form on their website for email inquiries.
• Address for Correspondence: Southern Oak Insurance Company, P.O. Box 45-9020, Sunrise, FL 33345-9020.
• Overnight Mailing Address (Payments & Policy Documents Only): 1560 Sawgrass Corp Pkwy, 4th Floor, Sunrise, FL 33323.‍
• Claims Mailing Address: Southern Oak Insurance Company Claims, 830 A1A North, Suite #13-326, Ponte Vedra Beach, Florida 32082.

Southern Oak Insurance Customer Reviews

I had a leak under my sink that also into a wall. Dry First was responsive and any mold was completely dried out. This insurance company did actually pay for my new cabinets and I love them!

D

Denise M.

3/6/2024

Great carriers to work with on HO insurance! We had a policy with Farmers at $2500/yr, now $1300/yr same coverages in some cases better coverage. Full disclosure, I've been an agent for the past 30+ years in FL and have worked with most if not all carriers in FL.

R

Robert A.

11/6/2023

Thank you for your assistance. Claim has been fulfilled. Rating updated to reflect. Would have been better had it been an easier process.

R

Ryan S.

8/6/2020

Purchased a home in late April and was insured through Southern Oak. Due to the condition of the home, floor replacements were needed prior to us moving in.

F

Felipe L.

7/6/2024

How to Make a Payment

How to Make a Payment to Southern Oak Insurance

Making a payment to Southern Oak Insurance is designed to be convenient, with several methods available to suit different preferences. Initially, policyholders can make payments online, which is a straightforward process involving a few simple steps. This can be done through the Southern Oak Insurance website or the policyholder portal, where you can manage your policy details and view payment history.

Here’s a step-by-step guide to making your payment:

1. Log in to Your Account: Access the Southern Oak policyholder portal at Southern Oak Login. You’ll need your email and password to log in.
2. Navigate to Payments: Once logged in, locate the payment section where you can view your billing information and due dates.
3. Choose Your Payment Method: You can pay with a credit or debit card, or set up a direct withdrawal from your bank account.
4. Enter Payment Information: Fill in the required payment details and confirm the total amount you wish to pay.
5. Submit Your Payment: Review your payment information for accuracy, then submit your payment.

For those who prefer traditional methods or need to handle specific issues, payments can also be mailed to their premium payment mailing address:

• Regular Mail:
  Southern Oak Insurance
  P.O. Box 45-9020
  Sunrise, FL 33345-9020
• Overnight Mail (Payments & Policy Documents Only):
  1560 Sawgrass Corp Pkwy, 4th Floor
  Sunrise, FL 33323

For further assistance or to discuss payment options, you can contact Southern Oak’s customer service at (877) 900-3971. They can provide guidance and help resolve any issues you may have with your payment process.

For tailored help and to explore additional insurance options, consider reaching out to Worth Insurance. We offer free quotes and expert advice to make sure you get the best coverage suited to your needs. Visit our contact page to get started.

How to File a Claim

How to File a Claim with Southern Oak Insurance

Filing a claim with Southern Oak Insurance is designed to be straightforward, ensuring that you can quickly secure the assistance you need in the event of property damage or loss. The first step is always to prioritize safety and prevent further damage where possible, then proceed with the claims process.

1. Contact Southern Oak or Your Agent: Initiate the claim by either contacting your insurance agent or Southern Oak directly. It's important to do this as soon as possible after the incident to expedite the claims process.
2. Document the Damage: Take comprehensive photos and notes detailing the damage. This will be crucial for the assessment.
3. Complete the Claims Form: Fill out the necessary claims documentation provided by Southern Oak. You can find the forms online through the Southern Oak policyholder portal.
4. Schedule an Inspection: Southern Oak will likely send an adjuster to inspect the damage and assess your claim further.
5. Review the Claims Adjustment: Once the adjuster has reviewed the damage, Southern Oak will provide you with an estimate of the covered losses.
6. Claim Resolution: After the assessment and adjustment, Southern Oak will issue a payment for the covered amount, minus any applicable deductible.

Key Competitors

Key Competitors

Southern Oak Insurance is a Florida-based homeowners insurance company that focuses on providing comprehensive coverage tailored to the needs of Florida residents. Given its localized approach, Southern Oak faces competition from both large national insurers and other regional players who also specialize in Florida’s unique insurance market. 

Among its primary competitors are companies like Citizens Property Insurance Corporation, which serves as the state’s insurer of last resort. Citizens is a significant competitor, particularly for homeowners in high-risk areas who might struggle to find coverage elsewhere.

Another major competitor is Universal Property & Casualty Insurance Company, one of the largest homeowners insurers in Florida. Universal has a well-established presence in the state and offers extensive coverage options designed to protect against Florida’s specific risks, such as hurricanes and floods. 

Additionally, Heritage Insurance and Tower Hill Insurance are strong competitors, offering similar products with a focus on providing robust coverage for Florida homeowners. These companies have deep local knowledge and tailor their policies to address the challenges of living in a hurricane-prone state.

Southern Oak also competes with tech-driven companies like Kin Insurance and Slide Insurance, which leverage data and technology to offer customized and user-friendly insurance solutions. 

While Southern Oak emphasizes its local expertise and personalized service, these newer competitors attract tech-savvy customers with their streamlined processes and innovative products. Southern Oak’s commitment to serving the unique needs of Florida homeowners, particularly in disaster-prone areas, positions it strongly against these varied competitors.

Conclusion

Wrapping Up

Southern Oak Insurance provides comprehensive and specialized coverage for homeowners in Florida, addressing unique challenges like hurricanes and floods with expertise and dedication. If you're a Florida homeowner looking for tailored insurance solutions, consider exploring what Southern Oak has to offer.

However, if you need more personalized guidance or are exploring broader insurance options that could provide additional benefits, Worth Insurance is here to help. Contact Worth Insurance today for a free consultation and quote to see how we can meet your specific needs and ensure you have the best coverage possible.