Universal Property & Casualty homeowners insurance

Overview

Universal Property & Casualty Insurance Company (UPCIC) is a Fort Lauderdale homeowners insurer and the main operating company of Universal Insurance Holdings, Inc., which trades on the New York Stock Exchange as UVE. Its NAIC group ranked #13 among U.S. homeowners insurance groups by 2025 direct premiums written, with $2.02 billion (1.07% of the national market), according to NAIC market share data. Almost three-quarters of that premium is Floridian: in 2025 the group was the 3rd-largest homeowners insurer in Florida, with $1.43 billion and 7.61% of the state market, behind only Citizens and Florida Peninsula.

UPCIC had about 896,000 policies in force at the end of 2025, according to the parent's annual report. Florida accounted for 567,095 of them (63%) and about 73% of premium in force; North Carolina was next with 72,839 policies. The rest are spread across 17 other states from Alabama to Wisconsin.

The company sells mainly through about 9,500 independent agents, 3,900 of them in Florida, and also sells online through Universal Direct and Clovered, the group's digital agency, which also places business with 39 other carriers. A sister carrier, American Platinum Property and Casualty Insurance Company (APPCIC), writes similar coverage in Florida and Georgia, mostly through the online channels.

History

Universal Insurance Holdings was incorporated in Delaware in 1990, and UPCIC began writing homeowners insurance in Florida in 1997. It grew with the Florida market: the parent's investor page shows direct premiums of about $41 million in 2004, $372 million in 2006 and $2.1 billion in 2025. Its expansion beyond Florida continues: UPCIC wrote its first Wisconsin policy in 2024 and is authorized in Tennessee, where it was preparing a rate filing in early 2026. It went the other way in Hawaii: regulators approved its withdrawal in 2023, and no Hawaii policies remained in force by the end of 2025.

The group is vertically integrated. Evolution Risk Advisors (formerly Universal Risk Advisors) is the in-house managing general agent that handles underwriting and policy administration; Alder Adjusting (formerly Universal Adjusting Corporation) handles claims; Wicklow Inspection Corporation does underwriting inspections; and Blue Atlantic Reinsurance Corporation helps place the reinsurance program. Stephen J. Donaghy is chief executive.

Homeowners coverage

UPCIC offers four homeowners forms: HO-2, HO-3, HO-5 and HO-8, plus condo (HO-6), renters (HO-4) and landlord dwelling policies on the DP-1, DP-2 and DP-3 forms. The homeowners policy carries the standard dwelling, other structures, personal property, loss of use, liability and medical payments coverages.

Optional coverages listed on its product page include personal property replacement cost, limited water and sewer backup and sump overflow, limited animal liability, utility service line, scheduled jewelry and other valuables, mechanical breakdown, personal injury, debris removal, loss assessment, higher liability limits and ordinance or law. Availability varies by state.

As with any Florida or coastal policy, read the wind terms on the declarations page. Florida homeowners policies carry a separate hurricane deductible, usually a percentage of the dwelling limit, and flood is excluded; UPCIC policyholders need a separate flood policy for rising water. In the Northeast and Midwest, check whether the water backup option is limited, as its name suggests, to a set dollar amount.

Discounts and savings

UPCIC lists discounts for prior insurance, staying claims-free, loyalty, a new roof, burglar and fire alarms, sprinkler systems, an "auto companion" discount tied to auto coverage, windstorm protective devices, a FORTIFIED home designation and occupants over age 65. In Florida, windstorm credits depend on a wind mitigation inspection that documents roof shape, roof-deck attachment, roof-to-wall connections and opening protection.

Where it sells and recent market moves

UPCIC writes in 19 states: Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Virginia and Wisconsin.

The company has been shifting weight away from Florida. In 2025 its direct premiums outside Florida grew 24.3% while Florida premiums fell 2.8%, and its Florida share of policies dropped from 70% at the end of 2023 to 63% at the end of 2025. In the second quarter of 2026, Florida premiums grew 0.8% and other states 14.4%.

Rates have moved in opposite directions. After Florida's 2022-2023 reforms (see florida's 2022–2023 property insurance reforms explained), UPCIC cut its average Florida homeowners rate by 1.5% in 2024 and by 5.1% effective October 16, 2025, a cut the governor's office highlighted in January 2026. Outside Florida it took increases in 2025, including 24.8% in Michigan, 20% in Iowa, 16.5% in New Hampshire, 15% in Delaware and Wisconsin and 10.2% in New York, with 2026 increases approved in Maryland (4.6%) and North Carolina (7.5%). Management told investors in July 2026 that its Florida claims litigation inventory had fallen back to pre-crisis levels.

Claims

Report a claim by logging in to your account at universalproperty.com, through the Universal Property mobile app, or by calling the claims department at 800-470-0599. Have your policy number, the date of loss, the type of claim (wind, water, fire), a brief description and photos ready. Alder Adjusting, the group's claims company, handles claims from first notice to close; the company says a "Fast Track" team can process and pay straightforward claims on the spot, and it brings in independent adjusters after hurricanes when claim volume spikes. About 54% of the parent's employees work in claims, and more than half of those are in-house claims litigation staff.

Ratings and reputation

UPCIC's financial strength ratings come from Demotech and Kroll rather than AM Best. Demotech rates it A (Exceptional), most recently affirmed September 9, 2026, and Kroll Bond Rating Agency rated UPCIC and APPCIC A- as of the 2025 annual report. UPCIC reported statutory surplus of about $476 million at December 31, 2025. Fannie Mae accepts a Demotech A or a KBRA BBB rating for insurers on the mortgages it buys, so lenders generally accept UPCIC policies; see Demotech ratings and Florida's insurers for what the Demotech scale measures.

The parent reported a 91.6% net combined ratio for the second quarter of 2026, down 6.2 points from a year earlier.

Who it suits

Universal fits a Florida homeowner who wants a large, long-running domestic carrier through a local independent agent, and East Coast homeowners whose agent places them with UPCIC as one of several options. It is less suited to someone who wants an AM Best-rated national company or a single carrier for home and auto, and policyholders outside Florida have seen sizable rate increases as the company works toward rate adequacy in newer states.

• Strengths: One of Florida's largest private home insurers, with nearly three decades in the state; Demotech A and Kroll A- ratings; four homeowners forms including HO-5; Florida rate decreases in 2024 and 2025.
• Weaknesses: Rated by Demotech and Kroll rather than AM Best; heavy Florida hurricane concentration that depends on reinsurance; double-digit 2025 increases in several non-Florida states; withdrew from Hawaii in 2023.

How to contact Universal Property & Casualty