Cypress Property & Casualty homeowners insurance

Overview

Cypress Property & Casualty Insurance Company is a Jacksonville, Florida property insurer that writes homeowners, condo, rental property, flood and builder's risk coverage in Florida and Texas, sold through agents. It is one of the smaller Florida-based carriers rated by Demotech rather than AM Best. Cypress Group Holdings ranked #90 among U.S. homeowners insurance groups by 2025 direct premiums written, with $212.5 million (0.11% of the national market), according to NAIC market share data. It does not rank among the 10 largest homeowners insurers in either of its states.

The company is owned by Cypress Group Holdings, Inc. AM Best's corporate structure listing (as of July 2023) places Cypress Group Holdings under InSure Homes Corporation and InSure Homes Holdings, LLC, alongside affiliates including InSure Homes Services LLC, the new-home warranty company StrucSure Home Warranty, LLC and Four Points Re SPC, Ltd. Cypress says it has more than 100 employees.

What sets Cypress apart for a homeowner is its Deductible Installment Plan, which lets eligible policyholders spread a large hurricane or catastrophe deductible over about two and a half years at no interest.

History

Cypress describes itself as having served Florida and Texas policyholders for more than a decade (its home page says more than 25 years). The group once had a second insurer, Cypress Texas Insurance Company. According to Demotech, Cypress Texas merged into Cypress Property & Casualty effective June 30, 2020, and its separate rating was withdrawn; since then one company, licensed in both states, writes the whole book. The Texas Windstorm Insurance Association still lists Cypress Texas Insurance Company among the carriers in its voluntary market program for taking policies out of the state wind pool.

Cypress is privately held and does not post financial statements on its website; its Demotech rating disclosure is the main public window into its finances.

Homeowners coverage

The main homeowners product is the Cypress Evergreen HO-3, with the standard dwelling, other structures, personal property, loss of use, personal liability and medical payments coverages. Condo unit owners policies (HO-6) and rental property policies for landlords (DP-3) are also sold, along with flood policies with separate building and contents coverage and builder's risk for homes under construction.

Optional coverages on the homeowners page include water backup, replacement cost on personal property, ordinance or law, identity theft expense (with restoration services from Identity Theft Fraud Solutions), increased loss assessment for owners in associations, dog and other animal liability, and service line coverage. Several are state-specific. In Florida only: scheduled personal property, special form personal property, equipment breakdown, personal injury, sinkhole loss coverage and screened enclosure coverage for hurricane damage to pool cages and carports. In Texas only: foundation coverage for damage caused by water leaking from plumbing, useful for homes built on concrete slabs (see slab leaks and tear-out coverage).

The Deductible Installment Plan applies to Evergreen HO-3, DP-3 and HO-6 policies. If you use a Cypress-approved vendor for repairs, you can pay a deductible of up to 2% of Coverage A (or 2% of Coverage C on a condo policy) in three installments, with the first due six months after the claim and the other two billed annually, with no fees, interest or credit check and no premium increase for using it. Say your dwelling limit is $350,000 and your hurricane deductible is 2%, or $7,000: under the plan, repairs can start immediately and the $7,000 is paid in three installments over roughly two and a half years. It does not apply to renters policies, and the endorsement's terms control.

Discounts and savings

In Florida, Cypress gives wind loss mitigation credits for roof covering and roof deck attachment, roof-to-wall connections, roof shape, secondary water resistance, reinforced concrete roof decks and opening protection, documented by a licensed inspector; the credits reduce only the hurricane and wind portion of the premium (see wind mitigation inspections and discounts). Cypress points policyholders to the state's My Safe Florida Home program for a free inspection.

Other discounts include senior or retiree, secured community, protected subdivision, accredited builder, new home, roof age, and central-station or local burglar and fire alarms. Sprinklers, superior construction, community building code and Cypress builder's risk credits are Florida-only; new purchase, companion policy and loss-free renewal discounts are Texas-only. Payment plans run from paid-in-full to semiannual, four-pay, quarterly and nine-pay, with possible installment fees.

Where it sells and recent market moves

Cypress writes only in Florida and Texas, and Demotech lists those as its only jurisdictions. Some products and discounts are offered in only one state, so a Texas quote and a Florida quote are built from different menus. Being a two-state coastal writer concentrates its exposure on Gulf and Atlantic hurricanes and Texas hail.

The most notable structural point for policyholders is how heavily Cypress leans on reinsurance: Demotech's disclosure puts its reinsurance utilization at 70% to 80% of premium. That is common among Florida-focused carriers and spreads hurricane risk to reinsurers, but it also means reinsurance costs flow straight into rates and the company's capacity depends on renewing its program every June.

Claims

Claims can be reported 24 hours a day at 877-560-5224 (option 1), by email, or through the online claim form; customer service is available 8 a.m. to 6 p.m. Eastern (7 a.m. to 5 p.m. Central) by phone and live chat. Cypress asks policyholders to report damage as soon as possible, photograph and video it, and keep receipts for temporary repairs. After hurricanes it warns customers about contractors falsely claiming to work with insurers.

Ratings and reputation

Demotech affirmed Cypress Property & Casualty's A (Exceptional) financial stability rating on September 14, 2026. Cypress's own materials cite no AM Best, S&P or Moody's rating. Fannie Mae's property insurance guidelines accept a Demotech rating of A or better for mortgaged homes, so the rating satisfies most lenders, though some buyers prefer an AM Best-rated carrier.

Who it suits

Cypress fits Florida homeowners who have documented wind mitigation features, and Texas homeowners who want slab-leak foundation coverage, and who buy through a local agent. The Deductible Installment Plan is useful for anyone worried about coming up with a percentage hurricane deductible after a storm. It suits less well people outside Florida and Texas, buyers who want an AM Best-rated or national carrier, and anyone who wants to compare coverage online before talking to an agent.

• Strengths: Demotech A (Exceptional), affirmed September 2026; a no-interest plan to pay deductibles of up to 2% of Coverage A over time; Florida wind mitigation, sinkhole and screened enclosure options; Texas foundation water-leak coverage; 24-hour claims line.
• Weaknesses: sold only in Florida and Texas, and only through agents; Demotech-rated rather than AM Best-rated; heavy reliance on reinsurance (70% to 80% of premium); little public financial information from a closely held group.

How to contact Cypress Property & Casualty