As a subsidiary of National Security Group, Inc., a leading provider of insurance products and services, National Security Insurance Company has been serving individuals and businesses across the United States since 1947.
Headquartered in Elba, Alabama, it offers comprehensive coverage to customers in 11 states, primarily in the Southeast region.
This article delves into our company profile, tracing our history, providing contact information, and highlighting its customer portal and claim process.
Additionally, we outline our extensive range of products and services, along with our affiliations and partnerships.
To help you make an informed decision, we also present ratings, coverage details, financial information, customer reviews, and a summary of our benefits.
Profile table of National Security Insurance Company
Attribute | Value |
---|---|
AMB Number | 006802 |
NAIC Number | 66788 |
FEIN Number | 630268140 |
Domiciliary Address | 661 East Davis Street, Elba, Alabama 36323 |
Website | nationalpfg.com |
Phone | 334-897-2273 |
Fax | 334-897-5694 |
Best’s Credit Rating | B++ (Good) |
Best’s Credit Outlook | Negative |
Financial Size Category | V (USD 10 Million to Less than 25 Million) |
History of National Security Insurance Company
Founded in 1947, the National Security Insurance Company initially specialized in providing fire and extended coverage policies.
It expanded its holdings when it became a public corporation in 1954.
By 1969, it had established a holding company structure and acquired the National Security Life Insurance Company.
In 1976, it received its first rating from A.M. Best and expanded its offerings to include mobile home insurance in 1982.
In 1997, it adopted its current name and launched its website in 2002.
Throughout its history, the company has faced challenges posed by events such as:
- Hurricane Isaac
- Tornadoes
- The COVID-19 pandemic
- Civil unrest
In 2021, A.M. Best adjusted its outlook to negative due to weak operating performance.
Nevertheless, the company proactively addressed these concerns.
Contacts of National Security Insurance Company
Customer care Phone number
The customer care phone number of National Security Insurance Company is 334-897-2273.
The customer service representatives are available from Monday to Friday, 8:00 a.m. to 4:30 p.m. Central Time.
Fax number
The fax number of the National Security Insurance Company is 334-897-5694.
Customers can use this number to send documents or requests to the company.
The email address of National Security Insurance Company is info@nationalsecuritygroup.com.
Customers can use this email to contact the company for general inquiries or feedback.
Address
The mailing address of National Security Insurance Company is P.O. Box 703, Elba, Alabama 36323.
Customers can use this address to send payments, claims, or correspondence to the company.
National Security Insurance Company customer portal
The National Security Insurance Company provides a customer portal through its website, allowing customers to access various services.
Within this portal, customers can retrieve policy details, make payments, review billing history, print ID cards, request policy modifications, and submit claims.
To gain access, customers are required to register using their:
- policy number
- zip code
- email address
The customer portal is accessible around the clock and is compatible with a wide range of browsers and devices.
How to file a Claim with the National Security Insurance Company
Claim processing
To file a claim with National Security Insurance Company, customers can use one of the following methods:
- Online: Customers can report a claim online through the customer portal or the claim reporting form on the company’s website. Customers need to provide their policy number, contact information, date and time of loss, location of loss, description of loss, and photos or documents if available.
- Phone: Customers can call the company’s toll-free number, 1-800-798-2092, to report a claim. The claim representatives are available from Monday to Friday, 8:00 a.m. to 4:30 p.m. Central Time. Customers need to have their policy number, contact information, and details of the loss ready when calling.
- Fax: Customers can fax their claim information to the company’s fax number, 334-897-5694. Customers need to include their policy number, contact information, date and time of loss, location of loss, description of loss, and photos or documents if available.
- Mail: Customers can mail their claim information to the company’s address, P.O. Box 703, Elba, Alabama 36323. Customers need to include their policy number, contact information, date and time of loss, location of loss, description of loss, and photos or documents if available.
Once a claim is reported, a claim number is issued, and an assigned adjuster will make contact within 24 hours.
The adjuster will verify claim details, outline the process, and request any required information.
They’ll assess the damage, determine coverage and liability, and subsequently communicate the decision and settlement amount to the customer before issuing payment.
Claim status
To check the status of a claim, customers can use one of the following methods:
- Online: Customers can log in to the customer portal and view the status of their claim, including the claim number, claim adjuster, claim status, and payment information.
- Phone: Customers can call the company’s toll-free number, 1-800-798-2092, and provide their claim number or policy number to check the status of their claim. The claim representatives are available from Monday to Friday, 8:00 a.m. to 4:30 p.m. Central Time.
- Email: Customers can email the company at claims@nationalsecuritygroup.com and provide their claim number or policy number to check the status of their claim. The company will respond within one business day.
Access to a customer portal
To access the customer portal, customers need to visit the company’s website and click on the “Customer Login” button in the top right corner.
Customers need to enter their email address and password to log in.
If customers have not registered before, they need to click on the “Register Now” link and follow the instructions to create an account.
Customers need to have their policy number, zip code, and email address to register.
Products and Services of National Security Insurance Company
National Security Insurance Company offers a range of insurance products and services to individuals and businesses, including:
- Property insurance: The company provides property insurance for homeowners, mobile homeowners, renters, landlords, and condominium owners. The property insurance covers the dwelling, personal property, additional living expenses, liability, and medical payments in case of fire, theft, vandalism, windstorm, hail, or other perils. The company also offers optional coverages, such as replacement costs, water backup, identity theft, and equipment breakdown.
- Auto insurance: The company provides auto insurance for personal and commercial vehicles, including cars, trucks, vans, motorcycles, and trailers. The auto insurance covers liability, medical payments, uninsured or underinsured motorist, collision, and comprehensive in case of accidents, injuries, or damages involving the insured vehicle. The company also offers optional coverages, such as towing, rental reimbursement, gap coverage, and custom equipment.
- Life insurance: The company provides life insurance for individuals and groups, including term life, whole life, universal life, and accidental death and dismemberment. The life insurance pays a death benefit to the beneficiaries in case of the insured’s death. The company also offers optional riders, such as waiver of premium, accelerated death benefit, and child term.
- Health and accident insurance: The company provides health and accident insurance for individuals and groups, including hospital indemnity, cancer, critical illness, dental, vision, and disability. Health and accident insurance pays a benefit to the insured or the provider in case of hospitalization, diagnosis, treatment, or loss of income due to a covered health or accident event. The company also offers optional riders, such as intensive care, ambulance, and accidental death.
Affiliates and Partnership of National Security Insurance Company
National Security Insurance Company is a subsidiary of National Security Group, Inc., a holding company that owns and operates two other insurance companies:
- National Security Life Insurance Company: A life and health insurer that offers life, health, and accident insurance products and services to individuals and groups in 11 states.
- Omega One Insurance Company: A property and casualty insurer that offers property and liability insurance products and services to individuals and businesses in Florida.
National Security Insurance Company has established a partnership with American Modern Insurance Group, a specialty insurer specializing in property and casualty insurance for niche markets, including:
- collector cars
- boats
- motorcycles
- manufactured homes
The National Security Insurance Company customer AM Best Reviews
National Security Insurance Company’s financial stability and creditworthiness have been assessed by A.M. Best, a globally recognized credit rating agency specializing in the insurance industry.
A.M. Best evaluates these factors based on the company’s balance sheet strength, operational performance, business profile, and risk management practices.
As of December 15, 2022, National Security Insurance Company has the following ratings from A.M. Best:
- Financial Strength Rating: B++ (Good)
- Long-Term Issuer Credit Rating: B (Good)
- Financial Size Category: V (USD 10 Million to Less than 25 Million)
- Outlook: Negative
The negative outlook is due to weak operational and underwriting performance, driven by high catastrophe losses, competition, and adverse reserve adjustments, compounded by challenges from the COVID-19 pandemic and civil unrest.
The ratings also acknowledge a decent balance sheet, diversified products, and experienced management.
To bolster profitability, the company has taken steps such as reducing exposure to high-risk areas, increasing rates and deductibles, and reinforcing its reinsurance program.
Table of Ratings of National Security Insurance Company
The following table summarizes the ratings of National Security Insurance Company (NSIC) by different rating agencies as of December 15, 2022:
Rating Agency | Long-Term Credit Rating | Short-Term Credit Rating | Outlook |
---|---|---|---|
A.M. Best | B++ (Good) | B (Good) | Negative |
Fitch | BB (Moderately Weak) | bb (Moderately Weak) | Stable |
Moody’s | Ba2 (Non-Investment Grade) | Ba2 (Non-Investment Grade) | Stable |
S&P | BB- (Non-Investment Grade) | BB- (Non-Investment Grade) | Negative |
The ratings are a reflection of NSIC’s financial strength, operational performance, business standing, and risk management practices.
A.M. Best and S&P have expressed a negative outlook, which suggests potential downgrades in the future should NSIC’s financial health decline or if it falls short of its strategic goals.
Conversely, Fitch and Moody’s have assigned a stable outlook, indicating that the ratings are expected to remain unchanged in the short term.
National Security Insurance Company Coverage Details
NSIC offers a variety of insurance products to suit the needs of its customers. These include:
Life Insurance
NSIC offers a comprehensive range of life insurance products to safeguard the financial security of policyholders and their beneficiaries.
Their life insurance portfolio includes term life, whole life, universal life, and annuity products, all designed to provide flexible coverage options, competitive rates, and attractive benefits.
Health and Accident Insurance
NSIC complements regular health insurance with supplemental plans that cover services and out-of-pocket expenses often excluded from standard policies.
These plans include hospital indemnity, cancer, critical illness, dental, vision, disability, and accident coverage.
NSIC’s health and accident insurance products are known for their affordability, easy enrollment, and fast claims processing.
Property and Casualty Insurance
NSIC provides property insurance products that protect homes, personal property, vehicles, and other assets from losses caused by fire, theft, vandalism, natural disasters, and other perils.
NSIC’s property insurance products are recognized for their comprehensive coverage, fair pricing, and excellent customer service.
Table of Financial Details of National Security Insurance Company
The following table summarizes the financial details of NSIC for the year ended December 31, 2022:
Financial IndicatorAmount (in USD)
Item | Value |
---|---|
Total Assets | $67.3 million |
Total Liabilities | $54.1 million |
Policyholders’ Surplus | $13.2 million |
Net Premiums Written | $38.7 million |
Net Investment Income | $2.1 million |
Net Income | $1.2 million |
Return on Equity | 9.1% |
Combined Ratio | 98.7% |
National Security Insurance Company’s financial profile reveals a moderate level of capitalization, a consistent operating profit, a diversified product portfolio, and a conservative investment approach.
Favorable loss experience, stricter underwriting practices, and higher premium rates have positively impacted NSIC’s financial performance.
However, the company faces challenges from low-interest rates, intensifying competition, and regulatory uncertainties.
Customer Reviews of National Security Insurance Company
I’ve read mixed reviews about NSIC from customers on various online platforms.
Some customers appreciate NSIC’s friendly and helpful staff, prompt and fair claims handling, flexible and customized coverage options, and competitive and affordable rates.
However, others criticize NSIC for poor communication, delayed and denied claims, limited and restrictive coverage options, and high and increasing rates.
On Google, NSIC has an average customer rating of 3.5 out of 5 stars, based on 47 reviews.
On Yelp, NSIC has an average customer rating of 2.5 out of 5 stars, based on 12 reviews.
These mixed reviews suggest that the experience with NSIC could vary depending on the specific circumstances.
What are the Benefits of National Security Insurance Company
NSIC has some benefits that make it a viable choice for customers who are looking for insurance solutions.
Some of the benefits are:
Advantages
- NSIC is a local and independent company that has been serving its customers since 1922. NSIC has a deep understanding of the needs and preferences of its target markets and has established a strong reputation and trust among its customers and communities.
- NSIC is a member of the National Security Group, Inc., which is a holding company that owns several other insurance subsidiaries. NSIC benefits from the financial strength, operational efficiency and strategic support of its parent company and its affiliates.
- NSIC offers a wide range of insurance products that can cater to the diverse and changing needs of its customers. NSIC’s products are designed to provide value, protection, and peace of mind to its customers and their families.
- NSIC has a network of dedicated and experienced agents who can provide personalized and professional service to its customers. NSIC’s agents can help customers choose the best coverage options, answer their questions and concerns, and assist them with their claims and policy changes.
Disadvantages
Despite the benefits of NSIC, there are some potential drawbacks that customers should consider before choosing this company for their insurance needs.
These drawbacks include:
- Limited product availability: NSIC may not offer the same breadth or depth of insurance products as some of its larger competitors. This could be a concern for customers who have complex or unique insurance needs.
- Potential for higher premiums: As a smaller, independent company, NSIC may not have the same economies of scale as its larger competitors. This could lead to higher premiums for its insurance products.
- Limited geographic reach: NSIC’s operations may be concentrated in certain geographic regions. This could limit its availability to customers in other parts of the country.
- Potential for slower claims processing: As a smaller company, NSIC may not have the same resources to dedicate to claims processing as some of its larger competitors. This could lead to slower claims processing times.
- Potential for less customer support: NSIC may have a smaller network of agents and customer service representatives than some of its larger competitors. This could result in longer wait times for customer service and less personalized support.
FAQs
Here are some frequently asked questions about the National Security Insurance Company (NSIC):
What kind of insurance does NSIC offer?
NSIC offers a variety of insurance products, including:
- Life insurance: Term life insurance, whole life insurance, universal life insurance, and annuity products
- Health and accident insurance: Supplemental health and accident plans for hospital indemnity, cancer, critical illness, dental, vision, disability, and accident coverage
- Property and casualty insurance: Homeowners insurance, renters insurance, auto insurance, and business insurance
Is NSIC a good insurance company?
NSIC’s financial strength is rated as moderate by A.M. Best, but its operating performance and underwriting results may suffer due to current economic conditions.
Customer reviews of NSIC are mixed, with some praising their helpful staff and fair claims handling, while others criticizing poor communication and high rates.
NSIC’s suitability for you depends on your individual needs and preferences.
How can I get a quote from NSIC?
You can get a quote from NSIC online, by phone, or in person at one of their offices.
There are three ways to get a quote from NSIC: online, by phone, or in person.
- For an online quote, visit their website and complete the quote request form.
- For a phone quote, call 1-800-798-2092. For an in-person quote, visit one of their offices.
What is NSIC’s claims process?
NSIC’s claims process is designed to be simple and efficient.
To file a claim, you can either call 1-800-798-2092 or submit a claim online.
A claims representative will help you gather the necessary documentation and process your claim.
NSIC typically takes 30-45 days to process a claim. However, the amount of time it takes to process your claim may vary depending on the complexity of your claim and the amount of documentation you need to provide.
What is NSIC’s customer service like?
NSIC’s customer service is generally rated as average.
Some customers have praised NSIC’s friendly and helpful staff. However, others have criticized NSIC for poor communication and long wait times.
Is NSIC a good option for me?
Whether or not NSIC is a good option for you will depend on your individual needs and preferences.
NSIC is a financially stable insurance company with a mixed customer reputation.
If you are looking for a local, independent insurance company with a variety of products to choose from, NSIC may be a good option for you.
However, if you are looking for the best possible customer service and rates, you may want to consider other insurance companies.
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