Velocity Risk Underwriters Home Insurance Review: Is it the right choice for you?

Velocity Risk Underwriters (VRU) is an excellent choice for homeowners insurance if you live in one of the six coastal states the company serves. Living along the coast comes with sea-related challenges. With Velocity, you get protection against damage caused by wind, rain, hail, water backups, and mold.

The insurance agency prides itself on serving coastal communities in Connecticut, Florida, New Jersey, New York, North Carolina, and Texas. Its protection and functionality give policyholders peace of mind when calamity strikes.

But your needs as a homeowner aren’t cut and dried. To know if you’re getting the best coverage, use Insurify to shop around for policies and rates. You can compare coverages from multiple insurers in seconds, saving you time and money.

Velocity Home Insurance Coverages

According to its website, Velocity offers property insurance across these dwelling situations and insurance needs:

Homeowners Insurance

Homeowners insurance is the cornerstone of financial protection if you own a home. It isn’t required by law, but many lenders require that you have a policy in place as part of the loan approval process.

Condominiums

Most condo association policies don’t include protection for your personal belongings or the cabinets, walls, or fixtures inside your unit. That’s where individual condo insurance comes in. Velocity has condo coverage to make sure you’re protected.

Rental Properties

Standard homeowners insurance can have coverage restrictions if you rent the property. For occasional or frequent renting, home-share coverage can give you the protection you need.

Components of a Velocity Home Insurance Policy

Although you may think of homeowners insurance as a single policy, it consists of several components:

Dwelling Coverage

Your dwelling is the physical structure of your home. It includes walls, roofs, floors, cabinets, and other house structures. Dwelling coverage also protects attached structures, such as an attached garage.

Other Structures

For structures not attached to your home, your policy includes other structures coverage. This policy component protects fences, stand-alone garages, and sheds. If you have additional structures on your property, you should talk to your agent about getting them covered.

Personal Possessions

Everything you own falls under this category. Personal property coverage protects your furniture, clothing, electronic equipment, lawnmower, and tools if the unexpected happens. High-value personal belongings will likely need an additional rider to cover their replacement cost.

Personal Liability

Accidents happen. If someone injures themselves in your home or on your property, personal liability coverage can help. It can protect you financially if you’re found liable or negligent for causing injury or damage.

Insurance Products Beyond Homeowners

Velocity covers more than homes and personal lines insurance. It also offers policies for:

• Commercial property

• Commercial habitational (multi-unit dwellings)

• Small commercial property

Velocity does not at this time offer renters insurance.

Coverages for Your Velocity Home Insurance Policy

Velocity works to support your coastal lifestyle. The company offers home insurance policies to protect against some of the worst disasters. Your Velocity policy can protect against these covered perils:

• Fire and smoke

• Freezing of plumbing

• Lightning

• Theft

• Windstorm or hail

• Liability

• Hurricanes

• Earthquakes

• Falling objects

Covered events can vary by location. For instance, earthquake coverage isn’t available in every state where Velocity offers insurance. Check your policy for disclaimers that can impact your policy options.

To customize your coverage, speak with a Velocity insurance agent. They can walk you through how much home insurance you need and answer questions about your coverage.

Available Discounts

A Velocity policy includes a Direct Repair Program (DRP) to help you recover quickly after a claim. Instead of working with a field claims adjuster and contractor separately, a DRP contractor can immediately begin the work.

The program can also help you save on the cost of repairs and claims. It provides a 10 percent deductible credit, up to $1,000, on personal property for non-catastrophe losses.

Although the program is available to all Velocity customers, the discount isn’t offered in every state. Check with your general agent to find out if this discount is available in your area.

The program includes:

• Single point of contact for claims

• Experts to handle homeowner losses

• Warranty that guarantees the work up to five years

• Faster process without waiting on a claims representative

Velocity Insurance Reviews: Customer Satisfaction

Velocity has mixed customer reviews online. Generally, the reviews are favorable. Customers report difficulty with the claims process and delays in getting a refund check.

Overall, customers are satisfied with the service they received from Velocity.

The company has earned recognition in the industry. Velocity was named in Growjo’s Fastest-Growing Companies in Nashville in 2019.

• J.D. Power Customer Satisfaction Rating: Not available

• A.M. Best Rating: A

• Better Business Bureau Rating (BBB): A+

• NAIC complaint index: Not available

Frequently Asked Questions - Velocity Homeowners Insurance

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Velocity Insurance Overview

A homeowners policy from Velocity can be a solid choice if you live along the East Coast. The company specializes in coastal coverage and has policies available for homeowners, condominiums, and landlords.

The Velocity Direct Repair Program can expedite repairs and save you money on your deductible if something happens. Think it might be right for you? Compare your options and rates to get the right coverage for your coastal home.

Velocity Home Insurance Contact Information

Velocity Mailing Address

Velocity Risk Underwriters, LLC
10 Burton Hills Blvd
Ste 300
Nashville, TN 37215

Use Insurify to compare homeowners insurance premiums for your property in your area.