Cost & Coverage
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Swyfft features the quickest and most impressive home insurance application process in the business, securing you a quote in seconds.
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THE BOTTOM LINE
Swyfft has only been insuring homes for a couple of years now, and in that short time they’ve left an impressive mark on the homeowners insurance industry. Backed by Clear Blue Insurance (A- A.M. Best rating), Swyfft is technically a managing general agent and not an insurance company in the traditional sense. But Swyfft does a lot of things better than many standard insurers who have been writing policies for decades, like their ingenious quoting and risk-assessment process.
SWYFFT COMPANY SPOTLIGHT
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Comprehensive coverage at affordable rates. Swyfft offers comprehensive and flexible policies at rates lower than the industry average. All policies include replacement cost contents coverage, adjustable limits for each of the primary coverages, and a number of endorsements and rate-saving opportunities.
Quotes you for an entire policy in about 10 seconds. Yes, and we timed it to be completely sure. After typing in your address and pressing the "Get Quote" button, Swyfft secures your quote in ~10 seconds.
More consumer-friendly than the comptetion when it comes to claim history. When it comes to setting your homeowners insurance rates, Swyfft doesn't hold loss history against you quite like other companies do. If you've experience a catastrophic loss, filed a zero-dollar claim (meaning the claim wasn't accepted) or if the insured address has had prior losses, it won't be reflected in your policy price.
Policies are only available in 9 states. Swyfft homeowners insurance is currently only available in 9 states. While that may seem like a bad thing, keep in mind that this company is only about 5 years old and is expanding by the day. If Swyfft isn't available in your state, there's a good chance they will be soon.
Not much information available about their insurance offerings or partnering companies. When it comes to information about their insurance products, partnering companies, and homeowners insurance more generally, Swyfft leaves a lot to be desired. In fact, it isn't exactly clear upon visiting their website that this is a company that will be insuring your home.
The claims process is somewhat of an unknown. Given the fact that Swyfft is still in its youthful stages, there isn't a whole lot of information about the claims experience online, other than a handful of negative-leaning Better Business Bureau reviews. However, Swyfft does have an online claims portal, which is more than what a lot of competitors can offer.
While the price of homeowners insurance with Swyfft (and every company) will depend on factors lke where you live, your home's construction type, and the age of your home, you can expect to pay around $1,300 annually for coverage with Swyfft, according to Policygenius data. That makes Swyfft home insurance rates far lower than the average quoted policy with Policygenius.
Rates are particularly impacted by your home's replacement cost, or the insured value of your home. Below is the average cost of homeowners insurance at different levels of coverage with Swyfft.
|Swyfft coverage amount||Swyfft average annual premium|
Average annual homeowners insurance premiums for each coverage level were calculated using Policygenius quoting data.
A great way to keep your homeowners insurance costs down is to take advantage of discount opportunities.
Some common discounts include protective devices discounts, claims-free discounts, and new home-buyer discounts. Swyfft offers most of the standard discounts, but not a whole lot otherwise.
Homeowners insurance protects your most important financial assets, so you'll want to be sure you're insuring your home, your personal possessions, and other assets with a company that will be able to pay out your claim in the event of a disaster. Swyfft hasn't been around long so it doesn't yet have ratings with such credit ratings agencies as S&P and Moody's. But they're backed by Clear Blue Insurance who has an A- rating with leading insurance rating agency A.M. Best.
Standard & Poor's measures companies' creditworthiness and is used primarily by financial investors and other market stakeholders. S&P is also valuable in measuring the long-term financial stability of insurance companies. A AAA rating is the highest issuer credit rating assigned by S&P.
Moody's is very similar to Standard & Poors, except rather than measuring a companies ability to remain financial stable and creditworthy, Moody's measures what the expected losses would be if a company were to go into default. It's particularly valuable in analyzing the value of stocks and bonds with certain companies. A AAA rating is the highest possible score you can receive from Moody's.
A.M. Best is the most reliable credit-rating tool insureds can use to gauge the financial health of a particular company. Unlike S&P and Moody's, A.M. Best is focused exclusively on the insurance marketplace. A good score with A.M. Best means a company is more likely to fulfill their financial obligation to you when it comes time to file a claim. With a score of A-, Swyfft has the fourth highest rating a company can receive with A.M. Best.
It's important to know what experts think about homeowners insurance companies - but it's also good to know what actual customers and consumer sentiment sites are saying, too.
Swyfft has excellent ratings with the Better Business Bureau. Being such a new company, it doesn't yet have ratings with J.D. Power, TrustPilot, Consumer Advocate, or Consumer Affairs.
J.D. Power provides studies that rate insurance companies across policy offerings, price, clarity of billing and policy information, interaction, and claims. An overall satisfaction score, "based on how customers view every experience of their experience with homeowners insurance providers," is reflected here and used for our ranking.
The Better Business Bureau ranks companies across a large swath of criteria. While consumers can submit ratings to the BBB, these scores are not taken into account in their rating, although tangential metrics that take into account customer experience are.
Consumer Affairs is a platform that lets consumers directly rate customers, while Consumers Advocate rates companies based on stability, reputation, and policy coverage.
The National Association of Insurance Commissioners tracks the number of complaints submitted to state insurance departments with their national complain index. A score of 1 is the baseline average, and a score of 0 means there weren't enough complaints to count. It's important to know what experts think about homeowners insurance companies - but it's also good to know what actual customers and consumer sentiment sites are saying, too.
Swyfft offers a single tier of homeowners insurance providing all of the six basic coverages: dwelling, other structures, personal property, loss-of-use, personal liability, and medical payments coverage.
Swyfft's base policy includes replacement cost contents coverage, adjustable coverage limits for each of the six coverages, and a number of coverage endorsements like enchanced personal property coverage, personal injury coverage, and water backup coverage.
Here are some of the highlights of Swyfft coverage:
Note: The information above represents potential policy options and may not be available for every applicant. Speak to a licensed expert for a personalized look at your coverage options.
Swyfft coverage is limited to 9 states but continues to grow. Although they provide the most impressive quick-quote in the industry and online claims, their website leaves much to be desired.
Swyfft homeowners insurance is available in 9 states.
As we've touched on more than a few times, Swyfft's application isn't much of an application at all. You simply type in your address and out comes a quote.
To file a claim with Swyfft, they give you the optoin to either call their claims department directly or file a claim online. Once you file your claim, you're assigned a claims advocate who manages your claim from beginning to end.
Policygenius offers insurance policies from many of the nation's top insurers, who pay us a commission for our services. However, all editorial choices are made independently.
Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.
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Yes, we have to include some legalese down here. Read it larger on our legal page. Policygenius Inc. (“Policygenius”) is a licensed independent insurance broker. Policygenius does not underwrite any insurance policy described on this website. The information provided on this site has been developed by Policygenius for general informational and educational purposes. We do our best efforts to ensure that this information is up-to-date and accurate. Any insurance policy premium quotes or ranges displayed are non-binding. The final insurance policy premium for any policy is determined by the underwriting insurance company following application. Savings are estimated by comparing the highest and lowest price for a shopper in a given health class. For example: for a 30-year old non-smoker male in South Carolina with excellent health and a preferred plus health class, comparing quotes for a $500,000, 20-year term life policy, the price difference between the lowest and highest quotes is 60%. For that same shopper in New York, the price difference is 40%. Rates are subject to change and are valid as of 2/17/17.
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