GeoVera Insurance Company at a Glance
- GeoVera Insurance Company is a wholly owned subsidiary of GeoVera Holdings, Inc., headquartered in Fairfield, California
- GeoVera Insurance offers residential earthquake insurance policies in California, Oregon, and Washington, as well as residential windstorm/hurricane insurance policies in Hawaii
- A (Excellent) rating from AM Best
- A+ rating by Better Business Bureau (BBB)
GeoVera pros: GeoVera has expertise in catastrophic risk coverage. Engaging and informative website with multiple tools and resources for homeowners. 24/7 claims service and automated policy information. Works with independent insurance agents.
GeoVera cons: GeoVera has a limited distribution area. The company receives numerous negative customer satisfaction reviews.
What Type of Insurance Does GeoVera Insurance Company Offer?
GeoVera offers the following catastrophic risk insurance products.
- Residential earthquake insurance in California, Oregon, and Washington
- Residential windstorm/hurricane insurance in Hawaii
You can learn more about catastrophic risk insurance by visiting GeoVera's website or contacting a GeoVera representative.
What’s more, you can use our national insurance company directory to find the best insurance companies to meet your needs. The directory can help you locate companies that specialize in your specific coverage needs and get connected to an agent near you.
What to Know about GeoVera Insurance Company
GeoVera Insurance Company is a wholly owned subsidiary of GeoVera Holdings, Inc., headquartered in Fairfield, California, and is a personal lines insurer in the states of California, Hawaii, Oregon, and Washington.
GeoVera has a strong history, becoming the largest private insurer of residential earthquake insurance in California in the nineties. In August of 2012, GeoVera Holdings, Inc. was acquired from Friedman Fleischer & Lowe, LLC and Hellman & Friedman LLC by Flexpoint Ford, a private equity firm focused on the financial services and healthcare sectors.
GeoVera Insurance offers residential earthquake insurance policies in California, Oregon, and Washington, as well as residential windstorm-hurricane insurance policies in Hawaii.
GeoVera has earned an AM Best rating of A (Excellent) for financial strength and operating performance. AM Best is a credit rating firm that assesses the creditworthiness of and/or reports on over 16,000 insurance companies worldwide. The AM Best rating points to the insurance company’s ability to pay claims, debts, and other financial obligations in a timely manner. Customers can expect that GeoVera has the necessary cash reserves to pay out claims, an essential factor in evaluating any insurance company before purchasing a policy.
What Discounts Does GeoVera Insurance Company Offer?
GeoVera does not make available information about any discounts or savings opportunities that it might offer.
GeoVera Insurance Company Customer Service
GeoVera offers the following customer service options.
- Phone, email, and online policy service options
- 24/7 service and automated policy information
- Online bill pay and claims reporting
- Customer service department has the following hours restrictions
GeoVera Insurance Company FAQ
What is GeoVera’s average claim response time frame?
After reporting a claim to GeoVera, the claim will be assigned to a GeoVera Advantage Insurance Services claims professional. The claims professional will make initial contact with the policyholder within one business day to review the claim details.
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What GeoVera’s customer service availability?
You can contact GeoVera by phone, email, or online. You can make payments, report claims, and view policy information by logging into your myGeoSource account. Customer service and 24/7 automated policy information is available by phone. You can also correspond with the company by regular mail.
What is GeoVera’s claims process?
GeoVera Insurance Company claims are handled by the company’s in-house claim department, GeoVera Advantage Insurance Services, Inc. In the event of a catastrophe, GeoVera Advantage staff will directly manage all claim activities with the assistance of select preferred vendors who provide guaranteed resources nationwide.
You can report a claim to GeoVera using your online myGeoSource account. If you would like to speak to a representative to report a new claim, you can report it by phone 24 hours a day, 7 days a week. You may also call your agent to report a claim.
After you report your claim, the following is Geovera’s claims process.
- The claim will be assigned to a GeoVera Advantage Insurance Services claims professional.
- The GeoVera Advantage Insurance Services claims professional will make initial contact with the policyholder within one business day to review the claim details.
- During the initial contact the claims professional will discuss the following with the policyholder.
- Confirm the facts of the loss and gather additional information
- Review the applicable policy coverages, limits and deductibles
- Determine the need for a field inspection and assign a field adjuster if needed
- Explain the claim handling process including information about the field adjuster if one has been assigned
- Explain how to protect the property from further damage
- Outline any additional information or documentation necessary to resolve the claim
- If the claim has been assigned to a field adjuster the field adjuster will contact the policyholder directly to set up an appointment to conduct the inspection.
- The GeoVera Advantage claims professional will gather all the pertinent information necessary to evaluate the claim. This includes receipts, photos, repair estimates and the field adjuster’s report if one has been assigned.
- The claims professional will evaluate the claim based on the damage, policy coverage, and deductibles.
- If necessary the claims professional will contact the appropriate parties to obtain any additional information needed to evaluate the damage.
After you’ve filed your claim, you can view your claim’s status by logging into your myGeoSource account.
Does GeoVera create a user-friendly experience for customers?
GeoVera has a robust and informative website. In addition to information about the company’s products and services, the website provides excellent articles and information that answer questions like “Why do you need earthquake insurance?” The information is clear, uses simple illustrations, and covers a multitude of common questions with easy-to-understand answers.
GeoVera’s website also offers a helpful Find an Agent tool to help direct you to an agent who can help you purchase a GeoVera policy.
Does GeoVera have good earthquake insurance?
GeoVera has good earthquake insurance. It offers single limit policies, rather than typical homeowners insurance which consists of individual limits for dwelling, contents, loss of use, and other structures.
A single limit policy means greater flexibility at the time of loss by allowing you to use your coverage as you need it.
You can choose from comprehensive coverage and standard coverage options.
- Comprehensive coverage: GeoVera Insurance Company’s comprehensive earthquake insurance policy offers broad protection for the dwelling, other structures, personal property, and additional living expenses. The comprehensive earthquake insurance policy comes with a 10% deductible in most areas.
- Standard coverage: GeoVera’s standard earthquake insurance policy is designed to provide protection for the dwelling and limited coverage for your personal possessions and additional living expenses. This policy includes a 15% deductible (10% is available exclusively in Washington and Oregon) and can provide substantial savings in premium.
If you’re interested in earthquake insurance in California, Washington, and Oregon, contact GeoVera for more information.
Is GeoVera a good insurance company?
GeoVera has received high ratings from AM Best and the BBB, and is an expert in earthquake and windstorm insurance. It offers 24/7 customer service and claims reporting, but customer service reviews are somewhat negative. Overall, GeoVera can be considered to be a good insurance company.
GeoVera Insurance Company Customer Reviews
|“This insurance provides reasonable prices and better coverage than our previous insurance company in hurricane prone area.”|
|“I canceled my policy because I bought a cheaper policy. I was insured for a month and GeoVera has never refunded the rest of my money.”|
|“I used GeoVera for earthquake insurance for my house. After getting quotes from multiple companies I settled on GeoVera because they offered a single deductible policy with no tricky sub limits and no fine print that you have to read through microscope. The price was very competitive. I will be using GeoVera for my earthquake insurance from now on.”|
|Better Business Bureau|
|“It’s going on four weeks since Hurricane Laura and we are living in our garage! I have an adjuster who takes 3 to 4 days to answer my emails! And you can forget about a call back! When this mess is all over, I will NOT be a customer of GeoVera!”|
|“This company is a rip off. I filed a claim on hurricane related damage that got me absolutely nothing. Take it from me, if your looking to get ripped off this is the company for you. If you're looking for an insurance company that actually does right by its customers you should look elsewhere.”|
TrustedChoice.com's Final Review
We award GeoVera a final rating of 2.0 out of 5 stars. The carrier decades of experience insuring residential catastrophic risks. Its high ratings from AM Best and the BBB speak to its financial strength and stability, one of the most important factors in choosing any insurance company.
GeoVera offers single limit policies and several coverage options for its customers. The company markets its products through independent insurance agents in the states in which it does business. GeoVera’s website is clear and very informative, and its customer service options are plentiful, including 24/7 claims reporting and automated policy information.
Many of GeoVera’s customer satisfaction reviews are negative. Unflattering reviews typically revolve around claims payments and customer service/claims adjuster response times. It is reasonable to question if the company is living up to its customers’ expectations when it comes to service and claims response.
If you live in California, Oregon, Washington, or Hawaii and are interested in GeoVera’s residential catastrophic risk policies, you'll need to evaluate if the company is right for your needs.
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