Ocean Harbor Auto Insurance Review

Ocean Harbor Insurance operates out of Tallahassee, Florida, offering its clients services primarily oriented on automobile and vehicle insurance and related casualty coverage. All general information queries are routed through their main line (850) 386-1115, including questions on service, claims, customer service and other requests.

Corporate Status and History

The business was incorporated in the mid-1980s and currently reports total assets of $93.1 million. Within that total it reserves a capital of $3 million and an uncommitted surplus totaling approximately $25.6 million. Ocean Harbor operates as a subsidiary under its holding company, Pearl Holding Group. Pearl has been the managing general agent over Ocean Harbor when the company decided to begin offering automobile insurance policies in the mid-1990s.

Services

While auto insurance is the primary business like for Ocean Harbor, it also provides auto insurance coverage products for other vehicles such as boats. Additionally, the company does dabble in non-vehicle insurance lines covering homeowner’s insurance and business liability.

As an auto insurance provider, Ocean Harbor positions itself as a cheap auto insurance offering for consumers. Doing so, the company keeps its policies capped fairly low so that it can in turn offer lower rates compared to other insurance pro

viders in the area. Competition is a primary focus of the operation, with agents and offices constantly monitoring the company’s position relative to other competitors in pricing.

Insurance policies are transacted through independent sales agents affiliated with Ocean Harbor. The agents are trained and supplied with the necessary corporate material to cover all the general information and product needs served by the company.

Insurance Products

The policies offered vary but generally serve the various categories of auto insurance that most of the market offers as well. These policies involve some mix of coverage that pays for physical injury caused to other people, or property damage caused to them.

Florida law makes personal injury coverage and property damage coverage minimum requirements in any policy issued in the state, with the only exceptions allowed including damage to family members, using a vehicle with less than four wheels, or vehicle used by family but not covered under the same insurance coverage plan. Policy types include:

• A personal injury coverage approach that addresses injuries both to the covered driver, family members and passengers as well as external persons injured by a vehicle accident in a covered car. The coverage addresses up to 80% of medical costs and 60% of income loss due to the same injury incident. The same coverage category also provides for a death benefit to parties killed by the accident as well as household services if not already provided by other benefits. The exceptions to this coverage would be if the driver was injured in a family-owned vehicle not covered by the given policy or where a separate insurance policy covers someone else’s car injuring the Ocean Harbor client.
• Where the injury is caused to an Ocean Harbor client by an uninsured motorist, the company provides for physical injury to the client, relatives, and passengers when caused by someone else’s negligence. The uninsured motorist needs to be confirmed as having no liability insurance whatsoever or any property coverage. Hit-and-run situations also qualify.
• Property damage from a collision with another vehicle or property, for which Ocean Harbor provides repair and replacement reimbursement.
• Comprehensive coverage, which provides a complete policy package that protects covered vehicles from break-ins and theft, fire, and other common damage types. Electronics are typically not covered such as stereos, GPS direction finders, and speakers. Further, policies don’t extend to damage that has already occurred and not been repaired. Comprehensive plans offered by the company also don’t extend to coverage on a rental car that may be needed while the covered car is being repaired, which is important to note. If in such a situation, a client can always obtain a separate insurance policy from the rental car agency.

The company does offer discounts when insurance policies are combined under Ocean Harbor as a multiple-policy provider. Additionally, some travel memberships can trigger discounts up to 10%, such as AAA Travel membership.

Service Review

Ocean Harbor has been rated by AMBest, a credit rating agency dedicated to the insurance industry. AMBest rates various insurance industries including health, property, title & mortgage, as well as some securities. Ocean Harbor received a B+ rating in its last review by AMBest. The lower score was attributed to customer complaints regarding service and claim processing.

The report noted 42 complaints filed in a three-year period. The majority were associated with unpaid claims filed. This is an uncommon score as insurance companies are usually downgraded due to their financial solvency rather than customer service quality.

While Ocean Harbor may not be exactly the auto insurance that fits you, you can find the right auto insurance for your budget here by typing in your ZIP code!