Heritage Insurance homeowners insurance

Overview

Heritage is a publicly traded homeowners insurer (NYSE: HRTG) that started in Florida and now writes more of its policies outside the state than in it. It ranked #33 among U.S. homeowners insurance groups by 2025 direct premiums written, with $983.7 million and a 0.52% national share, according to NAIC market share data. It is among the 10 largest homeowners insurers in two states, both in the Northeast: Heritage was the 9th-largest homeowners insurer in New York in 2025 ($244.3 million, 2.71% of the market) and the 8th-largest in Rhode Island ($34.7 million, 4.46%).

Three insurance companies do the writing. Heritage Property & Casualty Insurance Company covers Florida and the Southeast. Narragansett Bay Insurance Company (NBIC), based in Rhode Island, is the main carrier in the Northeast and Mid-Atlantic. Zephyr Insurance Company writes hurricane coverage in Hawaii. All three sell through independent agents and large agency networks. At the end of 2025 the group had 357,275 policies in force carrying $1.4 billion of annualized premium, 345,121 of them personal residential; Florida accounted for 123,437 of the total.

History

Bruce Lucas and Richard Widdicombe founded Heritage in Florida in August 2012 and built its first book almost entirely by taking policies out of Citizens Property Insurance Corporation, starting that December; by the end of 2013 it had 128,000 policies, more than 91% of them from Citizens. In 2014 it took over about 33,000 policies from Sunshine State Insurance Company, which was in receivership, and completed its initial public offering on the New York Stock Exchange on May 29, 2014.

Expansion followed by acquisition. In 2015 Heritage agreed to buy Zephyr, a Hawaii wind-only insurer founded in 2000 that held about 30% of that state's wind-only market, for about $120 million in cash. In November 2017 it bought NBIC Holdings, the Pawtucket, Rhode Island parent of Narragansett Bay Insurance, which wrote homeowners business through agents in Rhode Island, New York, Connecticut, Massachusetts and New Jersey. Lucas retired as chairman and CEO on November 30, 2020; chief operating officer Ernie Garateix became CEO, and Widdicombe became chairman.

After years of heavy hurricane and winter-storm losses, Heritage spent the period after 2021 shrinking deliberately: raising rates, tightening underwriting and closing territories to new business. Its policy count fell by nearly 250,000 from 2021 to mid-2026, and its Florida count fell from 241,581 to 112,304.

Homeowners coverage

Heritage sells homeowners (HO-3) policies for owner-occupied single-family homes, townhouses and duplexes; condo (HO-6) policies; dwelling fire (DP-3) landlord policies; and, through NBIC, renters policies. In Florida it still services wind-only and mobile home policies it assumed in takeouts. Commercial residential coverage for condominium and homeowners associations is written in Florida, Hawaii, New Jersey and New York, and the group writes excess and surplus lines business in California, Florida, Hawaii and South Carolina, adding Texas in 2026.

Florida endorsements listed on its site include increased jewelry limits, replacement cost on personal property, dog liability, identity theft and personal injury on the HO-3; and ordinance or law, replacement cost on contents and theft on the DP-3. Because replacement cost on personal property is listed as an add-on for Heritage's Florida forms, check whether your quote settles contents at actual cash value.

In Hawaii, hurricane coverage is often bought separately from the homeowners policy, and Zephyr specializes in that wind-only and hurricane coverage. In July 2025 Zephyr also partnered with the Hawaii Hurricane Relief Fund to offer hurricane coverage to condominium and townhouse associations.

Discounts and savings

Heritage publishes little about discounts beyond Florida's windstorm loss mitigation credits, which apply to homeowners and dwelling policies with features such as roof-deck attachment, roof-to-wall connections, secondary water resistance, opening protection and roof shape. You need a licensed inspector's report, submitted through your agent. Outside Florida, Heritage and NBIC do not list discounts online, so ask the agent which credits are filed in your state.

Where it sells and recent market moves

Heritage writes personal residential coverage in 16 states: Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina and Virginia. California business is written on a surplus lines basis.

The years of retreat appear to be ending. Heritage said rates were adequate in more than 90% of its portfolio at the end of 2025, and its average premium per policy was 8.9% higher than a year earlier. By March 31, 2026, Heritage said it had reopened more than 90% of its geographies to new business as they became rate adequate, and new business written in the first quarter was up 62.7% from a year earlier. Its second-quarter release said it would keep growing outside Florida, where it sees better conditions. Policies in force still fell 5.2% to 350,887 at June 30, 2026, so if you were nonrenewed by Heritage in 2023 or 2024, a new application today may get a different answer.

Claims

Heritage takes new claims around the clock at 855-415-7120 and may continue the conversation by text so you can send photos and video. For an existing claim, call 855-536-2744 or contact your assigned adjuster. NBIC policyholders report claims at 800-343-3375. Zephyr's office in Honolulu is at 808-440-5400 or 866-440-5401. Heritage also owns Contractors' Alliance Network, a vendor-management subsidiary.

Ratings and reputation

Heritage's carriers are rated by Demotech and Kroll Bond Rating Agency (KBRA), not AM Best. Its 2025 annual report lists Demotech ratings of A (Exceptional) for Heritage P&C, NBIC and Zephyr. On December 18, 2025, KBRA affirmed insurance financial strength ratings of BBB+ for Heritage P&C and NBIC and BBB for Zephyr, all with stable outlooks. KBRA's review pointed to elevated operating losses over the previous five years from hurricanes and winter storms, Florida concentration (Heritage P&C wrote close to half of group premium) and reliance on reinsurance, but noted improved results at all three carriers in 2024 and 2025.

Profitability has rebounded: Heritage reported record second-quarter net income of $61.7 million in 2026 and a net combined ratio of 64.9%. A Demotech A meets Fannie Mae's insurer-rating requirement for mortgaged homes; the Demotech ratings and Florida's insurers guide explains how it differs from AM Best.

Who it suits

Heritage suits homeowners in coastal Florida, the Carolinas, the Northeast and Hawaii who buy through an independent agent and want a carrier built around hurricane-exposed homes. It is less suited to shoppers who want to buy online, bundle auto, or live outside its 16 states.

• Strengths: Diversified across 16 states rather than Florida alone; a top-10 homeowners writer in New York and Rhode Island in 2025; Hawaii hurricane specialist through Zephyr; record second-quarter profit in 2026.
• Weaknesses: Several years of shrinking, with territories closed to new business until rates were raised; KBRA ratings in the BBB range and no AM Best rating; few published discounts; sold only through agents.

How to contact Heritage Insurance