Homeowners Choice and TypTap (HCI Group) homeowners insurance

Overview

HCI Group is a Tampa holding company whose insurance subsidiaries write homeowners, condo and dwelling policies, mostly in Florida. A homeowner will usually see one of four names on the declarations page: Homeowners Choice Property & Casualty Insurance Company (the original carrier), TypTap Insurance Company (its technology-driven sister carrier), Tailrow Insurance Exchange (a Florida reciprocal exchange that began operating in 2025), or, for condominium associations, Condo Owners Reciprocal Exchange (CORE).

The group ranked #31 among U.S. homeowners insurance groups by 2025 direct premiums written, with $1.04 billion and a 0.55% national share, according to NAIC market share data. Almost all of that is Florida business: HCI was the 6th-largest homeowners insurer in Florida in 2025, with $933.4 million and 4.96% of the state market. As of June 30, 2026, HCI reported about $1.29 billion of premium in force across its four carriers: roughly $650 million at Homeowners Choice, $492 million at TypTap, $117 million at Tailrow and $26 million at CORE.

HCI is publicly traded on the New York Stock Exchange (ticker HCI). Its carriers sell through independent agents, and the group has grown largely by taking policies out of Citizens Property Insurance Corporation, Florida's state-backed insurer.

History

HCI was incorporated in Florida in 2006 by Paresh Patel, a software developer and banker who has been chairman since 2007 and chief executive since 2011. Homeowners Choice began writing in 2007 by assuming policies from Citizens, and the company went public in 2008. In 2013 Homeowners Choice, Inc. began doing business as HCI Group, Inc., saying the new name better reflected a group that by then included insurance, reinsurance, real estate and an information technology unit branded Exzeo.

TypTap launched in 2016 as a homeowners carrier built on HCI's own underwriting software, then pushed outside Florida from 2020. In 2021 HCI bought the renewal rights to United Property & Casualty's personal lines business in Connecticut, Massachusetts, New Jersey and Rhode Island, roughly $125 million of annual premium, and Homeowners Choice issued replacement policies to those customers. A second agreement that December covered United's Georgia, North Carolina and South Carolina personal lines.

The structure changed again in 2024 and 2025. TypTap Insurance Company was moved directly under HCI in July 2024, and the former TypTap Insurance Group was renamed Exzeo Group and listed on the NYSE (ticker XZO) in November 2025; HCI kept about 83% of it as of mid-2026. CORE started writing condominium association coverage in February 2024, and Tailrow followed in February 2025. HCI acts as the attorney-in-fact for both exchanges but owns no equity in them.

Homeowners coverage

Homeowners Choice offers homeowners, condominium unit-owner and dwelling or landlord policies. TypTap writes homeowners insurance in every state where it is active, and Homeowners Choice underwrites TypTap-branded flood insurance in Arkansas, California, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina and Texas. Tailrow writes an HO-3 policy for Florida homes, accepts seasonal and secondary residences, and offers limits up to $1.2 million.

The carriers do not publish lists of optional endorsements, so ask the agent which ones a quote includes, such as water backup, screened enclosure coverage and higher ordinance-or-law limits. Florida policies also carry a separate hurricane deductible, usually a percentage of the dwelling limit, and since 2022 Florida law has allowed an optional roof deductible on non-hurricane roof claims.

If your policy arrived through a Citizens takeout, read the offer carefully. For a primary residence, Florida law lets you stay with Citizens only if the private offer costs more than 20% above your Citizens renewal premium, and once you are assumed the private carrier's policy form, not Citizens', governs your claims. The depopulation and takeout offers from state insurers of last resort guide explains the opt-out window.

Discounts and savings

In Florida the discount that usually matters most is the credit insurers must offer for wind-resistant construction. Homeowners Choice tells customers that a wind mitigation inspection by a licensed Florida inspector can reduce their premium, for features such as roof-deck attachment, roof-to-wall connections, roof shape and opening protection. A wind mitigation inspection is a one-time cost, while the credits apply at every renewal as long as the features stay on file. HCI's websites do not list multi-policy or loyalty discounts.

Where it sells and recent market moves

Florida is the core market. Homeowners Choice also lists Connecticut, Massachusetts, New Jersey, Rhode Island and South Carolina, and HCI's mid-2026 investor presentation says TypTap is active in 13 states including Florida. Tailrow and CORE write in Florida only.

Citizens takeouts drive growth. In October 2024, Homeowners Choice and TypTap assumed more than 42,000 Citizens policies, about $200 million of premium. Tailrow assumed just under 14,000 policies, about $35 million of premium, effective February 18, 2025. Across all of 2025, HCI's carriers assumed 60,820 Citizens policies carrying about $217 million of annualized premium, including roughly 33,000 at Tailrow, according to its annual report. With Florida regulators approving homeowners rate decreases for several carriers in 2025 and 2026, assumed customers have more alternatives at renewal than they did when the takeouts began.

Claims

Homeowners Choice takes new claims around the clock at 888-210-5235, by email to [email protected], or through an online form on its website during hurricane events. Existing Homeowners Choice claims go to 888-475-0222. TypTap takes new claims at 844-289-7968 (it advertises 24/7 reporting) and existing claims at 888-475-0213. Tailrow customers can reach customer service at 844-954-1110 and use the online hurricane claim form.

The carriers tell policyholders to make reasonable temporary repairs, photograph damage first, keep receipts and hold off on permanent repairs until the adjuster has inspected. HCI also owns a claims-services business, Griston. Under Florida law since 2023, insurers must acknowledge, investigate and pay or deny claims within set deadlines; the how long insurers have to pay a home claim guide covers the timelines.

Ratings and reputation

HCI's carriers are rated by Demotech rather than AM Best. Its annual report for 2025 states that Homeowners Choice and TypTap each hold a Demotech Financial Stability Rating of A (Exceptional), and that none of its insurance subsidiaries currently has an AM Best rating. Tailrow's website also cites a Demotech A (Exceptional) rating. A Demotech A meets Fannie Mae's minimum insurer-rating standard for mortgaged homes, but it measures something different from an AM Best rating; the Demotech ratings and Florida's insurers guide explains the difference.

HCI reported pre-tax income of $111 million for the second quarter of 2026, up from $94 million a year earlier, and says it now operates in 13 states. Its in-force premium fell from about $1.36 billion at the end of 2025 to $1.29 billion at mid-2026, a reminder that takeout books shrink when assumed customers shop at renewal.

Who it suits

HCI's carriers suit Florida homeowners who want a Florida-based private insurer with nearly two decades in the state, especially those leaving Citizens through a takeout. They are a narrower fit outside Florida, where TypTap's footprint is small and the companies are less known to agents. Homeowners who need a single carrier for home, auto and umbrella should look at a national insurer instead.

• Strengths: Long record in Florida since 2007 and steady profitability since the reforms; Demotech A (Exceptional) ratings on its carriers (2025 annual report); online quoting through TypTap; flood insurance available through TypTap in eight states.
• Weaknesses: Concentrated in Florida hurricane exposure; no AM Best rating; few published endorsements or discounts beyond wind mitigation; no home-and-auto bundle.

How to contact Homeowners Choice and TypTap (HCI Group)