2.7 / 5

Swyfft Homeowners Insurance Review

Swyfft promises a quick and streamlined home insurance application, and comprehensive coverage with some exceptional add-ons. But pricing is extremely high and policies are available in only 6 states.

Pat Howard 1600

By

Pat Howard

Pat Howard

Managing Editor & Licensed Home Insurance Expert

Pat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

Updated|5 min read

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Swyfft

OVERALL

2.7

2.7

THE GOOD

    check mark

    Comprehensive coverage

    check mark

    Quotes you for an entire policy in about 10 seconds

THE BAD

    X mark

    Very expensive premiums

    X mark

    Policies are only available in 6 states

THE BOTTOM LINE

Backed by Clear Blue Insurance and Benchmark Insurance Company, Swyfft has only been insuring homes for about 8 years now. Technically, Swyfft is a managing general agent and not an insurance company in the traditional sense. We found it concerning that in almost a decade, there’s hardly any reliable information about the company. We also found it difficult at times to use their tools that used to set them apart from other carriers in the industry. However, we would be remiss to not mention their extremely comprehensive coverage options that allow you to craft your policy to your exact needs.

Price

Average annual premium cost for a medium-sized home.

1.5

Financial confidence

Financial ratings from credit rating agencies.

8.5

Third-party ratings

Satisfaction from consumer sentiment institutions and complaints to state insurance boards.

5.8

Policy options

Both the quality and number of coverage options, like unique homeowners insurance product tiers and availability of certain coverage endorsements.

10.0

Customer experience

Ease of use, convenience, availability, and claims ratings.

6.0

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The Details

The Good

Comprehensive coverage. Swyfft offers comprehensive and flexible policies, including impressive add-on opportunities for your plan. All policies include replacement cost contents coverage, adjustable limits for each of the primary coverages, and a number of endorsements.

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.

The Bad

Very expensive premiums. When quoting a $340,000 single-family home, we got a premium of $2,246. This is about 80% higher than the average homeowners insurance premium, according to the National Association of Insurance Commissioners.

Policies are only available in 6 states. Swyfft homeowners insurance is currently only available in 6 states. In the last eight years or so, they’ve actually decreased their offerings from 9 states, so it’s unclear if they plan to expand in the future

Price

Average annual premium cost for a medium-sized home.

1.5

While the price of homeowners insurance with Swyfft (and every company) will depend on factors like where you live, your home's construction type, and the age of your home, you can expect to pay around $2,246 annually for coverage with Swyfft, according to a quote based on a $340,000 single-family home. That makes Swyfft home insurance rates far higher than the average quoted policy the National Association of Insurance Commissioners ($1,249). If you’re hoping to save money, you likely won’t be able to with a Swyfft homeowners policy.

Discounts

Previously, we noted that Swyfft offered three discounts: a protective devices discount, a loss-free discount, and a gated community discount. As of now, there are no discounts advertised on Swyfft’s website.

Financial confidence

Financial ratings from credit rating agencies.

8.5

Homeowners insurance protects your most important financial assets, so you'll want a company that will be able to pay out your claim in the event of a disaster. Swyfft hasn't been around long, but they're backed by Clear Blue Insurance and Benchmark Insurance Company, which each have an A- and A rating with leading insurance rating agency A.M. Best.

  • A.M. Best rating: A- (Clear Blue Insurance rating), A (Benchmark Insurance Company)

  • Moody's rating: N/A

  • Standard & Poor's rating: N/A

A.M. Best is the most reliable tool policyholders can use to gauge the financial health of an insurance company. 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 scores of A- and A for their backers (effective December 13, 2021), Swyfft has some of the highest ratings you can get from A.M. Best.

Moody's is similar to Standard & Poors, except instead of measuring a company's ability to remain stable, it measures what the expected losses would be if a company went into default. It's particularly valuable in analyzing the value of stocks and bonds with certain companies. An AAA rating is the highest possible score you can receive from Moody's, but they have no rating for Swyfft yet.

Standard & Poor's measures the long-term financial stability of insurance companies. An AAA rating is the highest issuer credit rating assigned by S&P, but they also have no rating for Swyfft yet.

Third-party ratings

Satisfaction from consumer sentiment institutions and complaints to state insurance boards.

5.8

Swyfft has exactly one review from  our typical third-party sources: Trustpilot, where they only have 2 customer reviews. On Clearsurance, another customer review site, they have overwhelmingly bad reviews, with a score of 1.46. 

It’s concerning how little Swyfft shows up in our credible third-party sources, so we’ll definitely keep an eye on this in the future.

  • Consumer Affairs: N/A

  • Consumers Advocate: N/A

  • Trustpilot: 1.46

  • NAIC complaint index: N/A

Consumer Affairs is a platform that lets consumers directly rate customers, while Consumers Advocate rates companies based on stability, reputation, and policy coverage.

Trustpilot, like Consumer Affairs, lets users rate carriers out of 5 alongside a written review. Swyfft has a score of 2.9, which is not great. We’ll continue to monitor consumer reviews, though, since this is the only third-party review we currently have for Swyfft and even this score is only based on 2 customer reviews.

The National Association of Insurance Commissioners tracks the number of complaints submitted to state insurance departments with their national complaint index. A score of 1 is the baseline average, and a score of 0 means there weren't enough complaints to count.

Policy options

Both the quality and number of coverage options, like unique homeowners insurance product tiers and availability of certain coverage endorsements.

10.0

Swyfft offers a single tier of homeowners insurance providing all of the six basic coverages: Here are some of the highlights of Swyfft coverage:

  • Dwelling. This protects your home by ensuring your property is repaired or replaced in a covered incident.

  • Other structures. If you have a shed, a detached garage, or other structures that aren’t connected to your home, this would protect them in covered incidents as well.

  • Personal property. When your belongings are damaged or stolen in a covered incident, they would be covered and protected, too.

  • Loss of use. In the event that you cannot stay in your home from a covered event, this coverage would pay for you to stay elsewhere. 

  • Personal liability. If a guest or their belongings were harmed in a covered incident at your home, this would protect you from being at fault.

  • Medical payments. Your medical costs would be covered if you or someone else gets injured during a covered incident at your home.

With all of the above coverages, you have an opportunity to increase how much your coverage is for on an easily adjustable sliding scale through the quote tool. Swyfft also offers some exceptional add-on options for your policy. They include:

  • Equipment breakdown. If your home appliances break down outside of a typically covered event, this would help in the repair or replacement of them.

  • Additional replacement cost. This increases the amount your home is covered by 25%.

  • Water backup. If your sewers or drains overflow, this coverage would help protect you.

  • Identity theft. In the case of stolen identity, this coverage would help cover the costs you may incur recovering from this loss.

  • Personal injury. This coverage protects you in the event of false arrest, wrongful eviction, or other events that may involve allegations that impact and impede your day-to-day life.

  • Enhanced personal property. If you add this coverage, it protects items like golf carts, computers, and other personal items that may not otherwise be covered in your base policy.

  • Ordinance. This coverage helps with the costs if your home has to be adjusted to be brought up to specific local and legal codes.

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.

Customer experience

Ease of use, convenience, availability, and claims ratings.

6.0

Swyfft coverage is limited to 6 states currently. Although they claim to provide the most impressive quick-quote in the industry, their website leaves much to be desired.

State availability

Swyfft homeowners insurance is available in 6 states: Alabama, Florida, Massachusetts, New Jersey, New York, and Texas.

Digital tools

Swyfft has an online application, online bill pay and policy management, and an online claims portal. Swyfft boasts about its instant quote tool, however, we weren’t consistently able to actually get a quote through Swyfft’s tool. Often the website wouldn’t respond or a weird error message would appear, which makes for a very frustrating shopping experience. This is something we plan to monitor over time.

The application

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.

Ease of claims

To file a claim with Swyfft, they give you the option 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.

Additional claims service

  • 24/7 claims service

  • Repairs company

Payment methods

  • Credit card and debit card

  • Option to pay directly from your bank account

  • Option to pay through your escrow account

  • Option to pay annually or monthly

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.

Author

Managing Editor & Licensed Home Insurance Expert

Pat Howard

Managing Editor & Licensed Home Insurance Expert

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Pat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

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