Velocity Risk home insurance review: High-risk coverage for Texas & Florida homeowners (2024)

Velocity Risk home insurance specializes in protecting high-value homes along the Texas and Florida coasts at high-risk of hurricane and tropical storm damage.

Headshot of Jennifer Gimbel


Jennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor at Policygenius, where she oversees all of our insurance coverage. Previously, she was the managing editor at and a content strategist at

Updated|2 min read

Policygenius content follows strict guidelines for editorial accuracy and integrity. Learn about our editorial standards and how we make money.

The bottom line

Velocity Risk insurance is best for homeowners in high-risk areas of Florida and Texas — it specializes in insuring high-value homes over $750,000 along the coast that have struggled to find protection with a traditional home insurance company. 

It also offers wind and hail coverage, so you won’t need to take out a separate windstorm policy with another insurer to ensure your home is protected from hurricane and tropical storm damage. And for a specialty carrier, Velocity Risk home insurance is refreshingly affordable — its average rate of $1,850 per year is on par with the national average.

Now the downsides: You can’t get a quote online — you have to call to find a local agent near you. It also doesn’t have much information about coverages and discounts available on its website.  

Compare quotes with Velocity & other high-risk home insurers in minutes

Basic coverages offered

If you purchase a home insurance policy with Velocity Risk, it will include these six standard coverages to protect your home, belongings, and personal liability:

  • Dwelling coveragePays to repair or rebuild the structure of your home after a covered loss.

  • Other structures coveragePays to repair or rebuild other structures on your property not connected to your home, including detached garages, storage sheds, and fencing.

  • Personal property coveragePays to repair or replace your personal belongings after a covered loss, including furniture, clothing, tech gadgets, and other stuff you own.

  • Loss of use coveragePays for hotel stays, restaurant bills, pet boarding fees, and other temporary living expenses after a covered loss if you need to live elsewhere while your home is being rebuilt.

  • Personal liability coveragePays for legal and medical expenses if someone is injured or their belongings are damaged while at your home and you’re found legally responsible.

  • Medical payments coveragePays for small-dollar medical bills if someone is injured while at your home — regardless of who is at fault.

Additional coverages offered

Velocity Risk only advertises two additional coverages on its website as of January 2023:

  • Wind/hail coverage: Homes in Florida and Texas at high risk of wind damage caused by tropical storms and hurricanes often need to purchase separate wind/hail coverage, which Velocity Risk offers. 

  • Water damage coverage: Protects your home and belongings from water backup damage caused by a sump pump overflowing or clogged sewer.

This doesn’t mean these are the only coverage add-ons Velocity Risk offers. We recommend talking to your local Velocity Risk agent to see what additional protections you can add to your home insurance policy.


  • Insures high-value homes of $750,000+ in high-risk coastal areas

  • Affordable rates on par with the national average

  • Can file claims online or through its mobile app


  • Only available in Florida and Texas

  • Can’t get an online quote — must call to find a local agent near you

  • Minimal information about coverages and discounts available on its website

How much does Velocity Risk home insurance cost?

The average cost of home insurance with Velocity is $1,850 per year for $300,000 in dwelling coverage, according to Policygenius rate data. That’s on par with the national average of $1,754 per year. Keep in mind that your actual rates will vary based on where you live, your coverages and policy limits, your claims history, and other factors.

Compare quotes with Velocity & other high-risk home insurers in minutes

What discounts does Velocity Risk offer?

Velocity Risk doesn’t advertise any discounts on its website as of January 2023. But in general, many insurers offer discounts for everything from installing a home security system and smoke alarms in your home to living in a gated community. Speak to your Velocity Risk agent to find out what discounts you might qualify for.

Velocity Risk home insurance state availability

Velocity Risk only offers home insurance policies in Texas and Florida, though it has plans to expand to Alabama, Mississippi, North Carolina, and South Carolina soon.

What to expect with Velocity Risk insurance

  • How to get a quote: You can get a Velocity Risk home insurance quote by calling 844-878-7529 to get connected with a local agent.

  • Customer service options: You can get in touch with a Velocity Risk customer service rep by calling 844-878-7529 or using the live-chat feature on its website.

  • How to file a claim: You can file a Velocity Risk home insurance claim online, through the Velocity Risk mobile app, or by calling 844-878-2567.

  • How to cancel your policy: You can cancel your Velocity Risk insurance policy by calling your local Insurance agent directly — their contact info should be on your policy declarations page.

Velocity Risk in the news

  • In February 2022, Velocity Risk was acquired by Oaktree Capital Management for an undisclosed amount. (GlobeNewswire)

Frequently asked questions

Does Velocity Risk have good customer reviews?

Velocity Risk receives a mixed bag of customer service reviews as of January 2023. Its rating of 1.67 out of 5 stars on the Better Business Bureau (BBB) is based on six customer reviews — five of which are negative. Customers complained about their insurance getting canceled for no reason, as well as poor claims experiences. Meanwhile, on Velocity Risk’s Facebook page, it receives an even mix of positive and negative reviews. Most positive reviews seem to come from agents selling Velocity Risk — not the customers themselves. And negative reviews echo what BBB customers complained about — cancellations and bad claims experiences.

Velocity Risk wasn’t included in J.D. Power’s 2022 customer satisfaction, claims, or digital experience studies, or the National Association of Insurance Commissioners Complaint Index Report.

Who owns Velocity Risk Underwriters?

Velocity Risk is owned by Oaktree Capital Management, a global investment manager specializing in alternative investments.