Heritage Insurance Holdings, Inc. (HRTG)

Overview

Heritage Insurance Holdings, Inc. operates as a provider of personal and commercial residential insurance products through its various subsidiaries. Founded in 2012 and headquartered in Tampa, Florida, the company extends its insurance services across multiple states in the U.S., including Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia. Heritage Insurance is known for offering a wide range of insurance products to meet the diverse needs of its customers, emphasizing personal residential insurance, commercial residential insurance, and specialized policies for wind-only property damage. Additionally, the company is dedicated to providing restoration, emergency, and recovery services, which further positions it as a comprehensive solution provider in the insurance industry.

Products and Services

• Personal Residential Insurance

This service caters to homeowners in several states, providing coverage for single-family homes, duplexes, and condominiums. It offers protection against various risks, ensuring that property owners are shielded from potential financial losses due to unforeseen events.

• Commercial Residential Insurance

Heritage Insurance offers specialized policies tailored for commercial residential properties in Florida, New Jersey, and New York. This coverage is essential for property managers and owners of residential buildings seeking to safeguard their investments against a range of risks.

• Wind-Only Property Insurance

Designed for regions prone to severe windstorms, this insurance provides targeted protection for properties against wind-related damages. It's a crucial offering for areas frequently affected by hurricanes and other high-wind conditions.

• Restoration, Emergency, and Recovery Services

Heritage Insurance goes beyond traditional insurance policies by offering services aimed at property restoration and recovery following damage. These services are invaluable in helping policyholders to quickly recuperate from the impacts of catastrophic events.

• Dwelling Fire Insurance Policies

For properties at risk of fire damage, Heritage Insurance provides dwelling fire insurance policies. These policies offer financial protection specifically against the loss or damage caused by fire, offering peace of mind to homeowners and landlords.

• Reinsurance Services

Apart from direct insurance products, Heritage Insurance also engages in providing reinsurance services. This facet of their business allows them to manage risk more effectively, offering additional security to their clients and stakeholders.

• Insurance Distribution and Partnerships

The company leverages a network of retail and wholesale agents, as well as partnerships with direct agencies, to distribute its insurance products. This broad distribution network ensures that Heritage Insurance's products are accessible to a wide range of customers across its operational geography.