Who Owns Edison Insurance Company

Who owns Edison Insurance Company? This post provides information about Edison Insurance Company, a privately held insurance company that offers coverage exclusively in Florida.

It discusses the company’s history, its acquisition by Florida Peninsula Holdings LLC, and the types of insurance it offers (homeowners and condo owners).

The article also includes details about the company’s ratings from different organizations, its employee count, and the discounts it offers.

Additionally, it addresses frequently asked questions about the company, such as its average claim response time and whether it is considered a good insurance company.

Who Owns Edison Insurance Company?

In 2010, Florida Peninsula, a leading property carrier in Florida, bought Edison Insurance and relocated its headquarters to Boca Raton.

Since then, Edison Insurance has been concentrating solely on providing customized insurance products for homeowners and condominiums in Florida. As of 2021, they still maintain this focus.

Florida Peninsula Holdings, LLC has acquired Edison Insurance Group, which includes its two subsidiaries: Edison Insurance Co. and Edison Insurance Underwriters.

The acquisition involved more than 25,000 Edison homeowners policyholders who will now be part of Florida Peninsula Insurance Co. Edison Insurance Co. will join the Florida Peninsula family of companies as it is based in St. Petersburg, Florida.

The acquisition does not affect current Florida Peninsula customers, and current Edison customers can still use the same customer service and claims telephone numbers and work with their existing insurance agents.

Additionally, Edison policies will remain in full force.

Edison Insurance Company at a Glance

Founded in 2005, this company focuses on homeowners insurance and offers coverage available in Florida only.

It is not rated by AM Best but Better Business Bureau (BBB) has rated it “A+” (excellent).

Edison Insurance Company pros: The company has a high rating from BBB and provides homeowners insurance and condo owners insurance in Florida. They offer 24/7 online claims reporting to their customers.

Edison Insurance Company cons: In recent years, customers have filed several complaints through the BBB regarding the company.

AM Best has not rated the company, and they only offer coverage in one state. Additionally, there are multiple negative customer reviews.

Types of insurance offered by Edison Insurance Company

Edison Insurance Company provides various insurance products, including;

• Homeowners insurance and,
• Condo owners insurance.

What to Know about Edison Insurance Company

In 2005, Edison Insurance Company was founded as a young carrier. Based in Florida, the privately held insurance company offers coverage exclusively to its home state.

Their focus is on providing quality homeowners and condo owners insurance for local residents.

Edison Insurance Company employs between 51-200 workers, according to their LinkedIn network.

AM Best, the leading credit organization monitoring the insurance industry, has not rated them.

However, they have a high rating from the Better Business Bureau.

They proudly boast an “A” (exceptional) rating by DEMOTECH, INC., and are backed only by A-rated reinsurance companies.

What Discounts does Edison Insurance Company offer?

Edison Insurance Company does not readily provide information about its specific discounts.

But, you can still find out about these details by consulting an independent insurance agent.

These agents work diligently to seek out the most cost-effective coverage that meets your requirements.

FAQ about Edison Insurance Company

1. Does Edison Insurance Company have good homeowners insurance?

Edison Insurance Company mainly focuses on two types of coverage, and one is homeowners insurance.

According to the carrier’s official website, their homeowners coverage comes with several benefits.

Standard policies cover damage to your house and permanent structures on your property, except for excluded causes

Additionally, they cover damage to your personal property due to causes specified in your policy.

Another perk is coverage for personal liability exposures that arise from being a homeowner.

Moreover, policies offer coverage for additional costs you might incur because of a covered loss.

2. What is Edison Insurance Company’s average claim response time frame?

Edison Insurance Company’s website offers a quick process for filing claims.

You can submit your claim either through their phone line or online portal.

Once you do, an inspector will be sent to your home within 72 hours. This way, you can get back to your normal routine quickly.

3. Is Edison Insurance Company a good insurance company?

Edison Insurance Company provides coverage in only one state and does not have an AM Best rating.

The company has received complaints through the BBB and negative customer reviews. The focus is on these issues.

The BBB has received complaints about the company. Customers have also posted many negative reviews.

The company’s problems center around the complaints filed with the BBB and the numerous negative customer reviews.

As a result, it is difficult to consider Edison Insurance Company as a reliable carrier.

Bottom line

Edison Insurance Company exclusively offers coverage in Florida. Florida Peninsula Holdings LLC acquired the company in 2010.

It provides homeowners insurance and condo owners insurance. Edison is a privately held insurance company.

The company has a high rating from the Better Business Bureau, but AM Best has not rated it. Edison policies will remain in full force after the acquisition.

The company’s employee count is between 51-200 workers.

They do not readily provide information about specific discounts, but independent insurance agents can assist with finding cost-effective coverage.

Edison Insurance Company has received several complaints through the BBB in recent years, which raises concerns about its reliability.