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Homeowners Insurance Question - Centauri
Posted on 11/10/22 at 3:46 pm
Posted on 11/10/22 at 3:46 pm
I'm stupid when it comes to this stuff and am hoping someone here can advise.
Until recently I had homeowners coverage with UPC. I had to switch recently to another carrier at a much higher premium. Afterward I received a significantly lower quote from Centauri. My concern is the Centauri quote seems to good to be true.
Can anyone speak to Centauri's credit rating and financial stability?
Until recently I had homeowners coverage with UPC. I had to switch recently to another carrier at a much higher premium. Afterward I received a significantly lower quote from Centauri. My concern is the Centauri quote seems to good to be true.
Can anyone speak to Centauri's credit rating and financial stability?
3
Posted on 11/10/22 at 3:55 pm to Day Man
Interesting, because I just received a Centauri quote that was significantly higher than others I got. Wound up going with Allstate. I'd recommend reaching out to them.
I don't know anything about Centauri's stability, but here is their Demotech rating: LINK /
For whatever reason, I can't pull them up on A.M. Best.
I don't know anything about Centauri's stability, but here is their Demotech rating: LINK /
For whatever reason, I can't pull them up on A.M. Best.
Posted on 11/10/22 at 4:15 pm to Day Man
We built our house in 2018 and had Centauri for two years with no issues. Pretty cheap. In year three, it doubled.
Went with State Farm who came in a small percentage higher than my original price with Centauri
Went with State Farm who came in a small percentage higher than my original price with Centauri
Posted on 11/10/22 at 11:07 pm to bluemoons
quote:
I don't know anything about Centauri's stability, but here is their Demotech rating: LINK / For whatever reason, I can't pull them up on A.M. Best.
That’s because companies that rely almost exclusively on reinsurance in order to pay claims are rated by Demotech. Those companies can’t meet eligibility criteria to be rated by AM Best because they don’t meet the financial requirements. This means that even A-rated Demotech companies are still subpar (in my opinion). Are there decent Demotech companies? Sure, but I wouldn’t want to have to trust my home to one if I didn’t have to. The problem in south Louisiana is that most of what you’re gonna get nowadays is Demotech companies.
Posted on 11/11/22 at 8:46 am to Day Man
quote:
Afterward I received a significantly lower quote from Centauri. My concern is the Centauri quote seems to good to be true.
Centauri just had rate changes and deductible changes in late October ish time. Make sure its a current quote. But Centauri is one of the extreme few writing policies at this time. Asking about financial stability is pretty laughable. Its a demotech company, been around a good while. Were one of the big ones writing a ton after Katrina. Still around so that's good. Writing new business so thats even better.
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