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Swyfft Insurance review

Swyfft Insurance review 2020


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3.5 Rating from The Zebra

Currently available in nine states, Swyfft Insurance is among a new wave of insurtech startups trying to disrupt the insurance industry. The company uses data-driven “patented analytical methods” to get real-time quotes for homeowners insurance by analyzing threats specific to that address.

It’s important to note that Swyfft Insurance is not technically an insurance company. The company is a managing general agent that partners with other companies — namely Clear Blue Insurance — to sell policies. Since the company is relatively new, some of the ratings used in this review are those of Swyfft's partner company, Clear Blue Insurance. Read on to find out how Swyfft Insurance stacks up against the competitors and whether or not the company is the right option for you.


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JD Power Rating — Not rated: As a newer company, Swyfft is not yet rated by JD Power.

Financial strength — Excellent: According to Swyfft’s own website, all of its partner companies earn at least an A- from AM Best. Partner company Clear Blue Insurance is currently rated as Excellent.

NAIC Rating — N/A: The NAIC has not yet rated Swyyft, though partner company Clear Blue Insurance receives slightly more homeowners insurance complaints than average.

JD Power Rating — Not rated: As a newer company, Swyfft is not yet rated by JD Power.

Financial strength — Excellent: According to Swyfft’s own website, all of its partner companies earn at least an A- from AM Best. Partner company Clear Blue Insurance is currently rated as Excellent.

NAIC Rating — N/A: The NAIC has not yet rated Swyyft, though partner company Clear Blue Insurance receives slightly more homeowners insurance complaints than average.

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Swyfft home insurance coverage options

Home insurance is the primary product offered by Swyfft Insurance. The company's emphasis is single-family homes in particular. While Swyfft does offer coverage for second homes, the company does not insure second homes that are rented to others.

Swyfft home insurance coverage is available in the following states: Alabama, California, Florida, Illinois, Massachusetts, Nevada, New Jersey, New York and Texas. However, the company's coverage seems to be limited to certain areas of these states, and some property types may not be eligible for coverage.

 

How Swyfft home insurance works

Your initial quote is based on a small amount of personal information, though it does offer you a chance to detail how many prior claims you have had. Swyfft primarily uses your home address, factoring in coverages that are unique to your locale. For instance, homes in hurricane-prone areas list a hurricane deductible while properties in Texas have wind/hailstorm deductibles. You can choose the percentage of your hurricane or windstorm deductible, which will modify your quote in real-time. The site also allows you to select the amount for your deductible for standard perils.

Coverage options found in most standard plans are available from Swyfft, the amounts of which are fully customizable:

 

Other homeowners coverage types

Swyfft also allows you to tailor a number of other coverage types, some of which are specific to your part of the country. Others common endorsements that are also offered by other home insurance providers:

 

How your home affects your Swyfft Insurance quote

One of the more impressive parts of the Swyfft Insurance shopping experiences is that they allow you to get hyper-specific about elements of your home. This allows you to see exactly how the structure of your home impacts your insurance rates. Customers can choose the following:

  • Year constructed
  • Construction type (frame, masonry, plus six other types)
  • Roof type (Clay tile, aluminum, plus 17 other options)
  • A further five categories for roof construction types
  • Square footage

 

Swyfft Insurance discounts

Swyfft doesn’t advertise insurance discounts. However, the interface allows policyholders to customize the policy to more appropriately reflect their home’s features. An on-screen cost estimator allows you to see how certain features can save you money in real-time.

Below are some of the home features that could allow you to save money: 

  • Fire-resistive construction
  • Certain roof-types
  • Hurricane-wind rated roof covering (where applicable)
  • Central burglar alarm
  • Sprinkler system
  • Central fire alarm system
  • Living in a gated community
  • Water-protective devices (auto shut-off valves/alarms)
  • Garage type

 

Swyfft Insurance website

As a tech company, the value that Swyfft brings to the market is its quoting tool. Their website is clean and easy to navigate. You can get a quote in just a matter of seconds. However, where the site truly shines is in how it allows you to customize your coverage. Shoppers can see how each choice can affect what they pay in annual premiums, which most will find enlightening.

The site also offers a claims portal which allows you to begin the claims process online. Other features allow for online credit card payments and updating personal information. However, the website is otherwise light on information. At the time of writing, it also didn’t accurately reflect all of the states in which they currently do business, which may be seen as negligence on their part.

 

Other types of coverage

In recent years, Swyfft has expanded its offering of insurance products to include commercial insurance in addition to homeowners policies. Swyfft has more recently begun offering policies that cover office buildings, shopping center owners, condo associations and apartment buildings. However, this coverage is only available in the state of Florida according to their website.

 

Reviews: Is Swyfft Insurance right for you?

Swyfft is a relatively young company, but it has accomplished some things that many traditional insurers haven't. With a technology focus, they allow you to get insurance quotes in a matter of seconds. Their website provides a smooth interface and allows for almost endless customization, which is appealing if you are searching for accurate quotes. However, they only offer coverage in nine states and, even then, their coverage is not available in all locations within those states.

Furthermore, there isn't a lot of information out there about the company, which could be offputting to some. An A+ rating from the Better Business Bureau suggests that their business is sound, while ratings from many prominent review sites would indicate that customers are  on the whole — relatively happy with them. However, the lack of information around their partner companies and data sources could be a problem for many. 

If you're on the hunt for the cheapest homeowners insurance policy, it pays to shop around. The Zebra allows you to receive accurate quotes based on your individual profile. Enter your ZIP code below compare quotes from top insurance providers to find the coverage that’s best for you.

 

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Ross Martin LinkedIn

As a licensed insurance agent, Ross is responsible for researching and writing about all matters related to auto and home insurance. He has a background in writing and education, as well as a masters degree from Royal Holloway, University of London. He has been quoted by Kin Insurance, Safety.com, and autoinsuranceEZ.com.

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