People's Trust Insurance homeowners insurance

Overview

People's Trust Insurance Company is a Deerfield Beach, Florida homeowners insurer that writes only in Florida. It is best known for how it handles claims: instead of sending a check and leaving the homeowner to hire a contractor, it can send its affiliated general contractor to dry out, tarp and repair the house, with the policyholder paying the deductible up front. The company calls this its "Better Way," and it is the main reason to choose People's Trust or to avoid it.

People's Trust ranked #84 among U.S. homeowners insurance groups by 2025 direct premiums written, with $222.4 million (0.12% of the national market), according to NAIC market share data. It says it insures nearly 100,000 Florida homes and has more than 500 employees across its family of companies.

You can buy directly from People's Trust, online or by phone with its licensed sales staff, or through an independent agent. Its online process lets you quote and buy a policy without speaking to anyone.

History

George W. Schaeffer co-founded People's Trust in 2008 and remains president and chief executive. The company describes itself as family-owned with no outside shareholders; Irina Schaeffer is executive vice president of the holding company, People's Trust Holdings.

From the start, People's Trust built its model around preparedness and an affiliated contractor. The company says its preferred contractor network stocks roofing supplies, tarps, generators and other materials before storm season so repairs are not hit by post-storm price spikes or shortages. The model now runs through the Preferred Contractor Endorsement, which Schaeffer describes as the company's own creation.

Like most Florida domestic insurers, People's Trust was squeezed by reinsurance costs. In June 2022 it announced that it had fully placed its 2022–2023 catastrophe excess-of-loss program and planned to resume selling new policies within 30 days, once new rates reflecting the reinsurance cost were filed; it had stopped writing new business in the meantime. In June 2023 it announced its next reinsurance placement, which Schaeffer called "a very expensive year for reinsurance."

Homeowners coverage

People's Trust sells two main products.

Full-service HO-3. This is a standard HO-3 for owner-occupied homes valued at $100,000 or more ($200,000 minimum in Miami-Dade, Broward and Palm Beach counties). The owner must live in the home at least nine months a year for it to count as a primary residence, or at least four months as a seasonal or secondary home. Duplexes qualify if the named insured lives in one unit, and revocable trusts are accepted; corporations, partnerships, associations, irrevocable trusts, land trusts, estates in probate, triplexes and fourplexes are not. Personal property is covered at actual cash value unless you pay extra for replacement cost. Several gaps matter: water backup and sewer backup are excluded, and water damage is excluded on homes more than 40 years old, though both can be bought back. Awnings, gazebos, tiki huts and other structures open to the weather or built with screens or slats, above-ground pools and structures over water are not covered. Liability excludes animals considered vicious or exotic or with a bite history, but the company says it has no breed list. Scheduled coverage for jewelry, furs, silverware and fine art is available.

Basic Choice. A lower-cost named perils policy that leaves out coverages such as water damage and theft. It is available for owner-occupied or tenant-occupied homes valued at $50,000 or more ($100,000 in the three South Florida counties), and the company says it satisfies most mortgage requirements. Read the exclusions closely: most Florida claims involve water, and this policy is built to leave those out.

People's Trust inspects every HO-3 home after you buy, typically scheduling within two business days and finishing within 14 days, and requires timely repair of any visible damage it finds. It also sells NFIP flood policies under the name PTI Flood Insurance (561-417-1111); flood is excluded from both homeowners products. As with any Florida policy, check the hurricane deductible on the declarations page.

Discounts and savings

Listed discounts include wind mitigation credits (a roof from 2002 or newer or hurricane windows may qualify; an inspection is usually needed), 5% for a named insured age 55 or older, 5% for active-duty or retired military, and 5% for a 24-hour manned or passkey-gated community (not for seasonal homes). The age, military and gated-community discounts apply only to the non-hurricane portion of the premium, and combined discounts cannot exceed 10%. There is also a paperless discount, credits for centrally monitored burglar or fire alarms and fire sprinklers, and an insurance score credit on the non-hurricane premium.

Where it sells and recent market moves

People's Trust writes only in Florida. Citizens Property Insurance Corporation lists it as a participating carrier in its Clearinghouse program, which compares eligible Citizens applicants and renewals against private-market offers (see Citizens Property Insurance Corporation and depopulation and takeout offers from state insurers of last resort). The company has not published a rate history; check with the agent or the Florida Office of Insurance Regulation for current filings.

Claims

People's Trust asks policyholders to "call People's Trust first": 561-609-1002, 24/7, or online at myPTI.com. Under the Preferred Contractor Endorsement, the company dispatches its preferred emergency response team to mitigate damage, then has its contractor perform covered repairs, backed by a three-year workmanship guarantee. You do not hire a contractor or collect estimates, but you must pay the deductible before repairs begin; the company says financing is available. Claims outside that endorsement are paid directly to the policyholder.

Managed repair cuts both ways. It can speed emergency work and avoid contractor fraud, but you give up control over who repairs your home and how, and disputes over scope are argued with the insurer's own contractor. Read the endorsement and your duties after loss before you buy (see choosing a contractor after a home insurance claim).

Ratings and reputation

People's Trust is not rated by AM Best. Its website, read in October 2026, says it holds a Demotech Financial Stability Rating of A (Exceptional), the rating most Florida domestic insurers carry and one that Fannie Mae accepts. The company describes its reinsurance as placed with a panel of private reinsurers.

People's Trust does not appear in J.D. Power's home insurance studies, and no NAIC complaint index was found.

Who it suits

People's Trust suits Florida homeowners who want a direct, buy-online option and are comfortable letting the insurer run repairs in exchange for a lower price, particularly owners of newer homes who will not need the water-damage buy-back. It suits less well owners of older homes, people who want to pick their own contractor, or anyone who wants a nationally rated insurer.

• Strengths: buy online, by phone or through an agent; managed repairs with a three-year workmanship guarantee and 24/7 emergency mitigation; a low-cost named-perils option; senior, military and gated-community discounts; Demotech A (Exceptional).
• Weaknesses: Florida only; no AM Best rating; contents at actual cash value by default; water damage excluded on homes over 40 years old unless bought back; managed repair limits your choice of contractor and requires the deductible up front; paused new business in 2022 during the reinsurance crunch.

How to contact People's Trust Insurance