Complaints

• Initial Complaint

  10/23/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  On 9/6/24 my mortgage company paid this company ******* for the new policy premium.On 9/12/24 my insurance agent sent a cancellation notice to this company while I expected a prorated amount sent back.On 10/03 we only received 2122 back.I called an spoke with a customer ********************** agent who told me that the company had the option to not prorate and keep 10% of the policy. I was unaware of this as nobody told me this information and if they had, I would of kept the policy for the remainder of the duration. I asked to be transferred to a supervisor and was.I explained to the supervisor that I had no knowledge of this option the company had and that I would of kept the policy if I knew. I am an average consumer and the remainder of that money is very important to me. While speaking with the supervisor, she told me that there was no "Option" to prorate or not and that it was added to the policy that if I was to cancel they would keep 10%. So far I have been told 2 different things, 1 that they have the option to do this and 2 that they do not have the option the system automatically does it.I explained I have never made one claim. I have paid almost ****** to this company and that I just want my prorated amount of approximately 200$ back. She became rude and had a tone in her voice like she wanted to laugh, she did not care at all and was enjoying this interaction. A little more back and fourth and she cut me off and then hung up the phone. This is the most unprofessional company I have ever dealt with in my entire life. This Supervisor would rather lose a potential return customer in the future and possibly many more customers just from my word of mouth then to send me my prorated amount back.TLDR: Paid ******* for insurance premium, had the premium for 6 days, only recieved ******* back for a refund.

  

  Business response

  11/01/2024

  This is in response to Mr. ******** complaint related to the cancellation of his policy with Cypress Property & Casualty Insurance (CPCIC) and the related refund. 
  In the case of Mr. ******** policy, as he indicated in his complaint, coverage renewed on September 6, 2024, and was cancelled at his request effective September 12, 2024.  When a policy is cancelled during a policy term at the request of the policyholder, CPCIC retains the earned premium, the amount of all fees and surcharges, and 10% of the unearned premium.  This method of cancellation, referred to as short-rate, is part of the Company filing with the Florida Office of Insurance Regulation.  Since his policy was cancelled during the policy term, the refund sent to him was calculated correctly. 

  While we understand his concern with the expectation that his refund would be pro-rated, we are unable to honor his request to adjust the refund amount.   We sincerely apologize for the incorrect information Mr. ******** received when he contacted our office and will address both the incorrect information and any issues with the handling of the call.   His experience is not representative of the way we endeavor to treat our policyholders. 

• Initial Complaint

  09/20/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Filed an insurance claim for water damage and subsequent zero tolerance mold in the home on June 14, 2024. State of FL statute requires insurance company to provide a determination letter within 60 days of date of claim. I have complied with all requests from Cypress and any contractors/attorneys they have assigned to our claim. The last step according to them transpired 3 weeks ago, which was examination under oath by an attorney concurrent with a recorder by the court. We still do not have a claim determination at this point, and have already commenced (and notified Cypress) permanent repairs, mold remediation, additional testing, etc. we need a determination latter and they have yet to respond to my last email 3 business days ago for the status.

  

  Business response

  09/25/2024

  This response addresses *** ********* BBB complaint indicating Cypress Property & Casualty Insurance Company (Cypress) has not yet provided a claim determination letter.
  *** ******** reported a claim for water damages to Cypress on June 14, 2024. That same day,Cypress sent a formal Request for Material Claims Information ********************* indicating that it was necessary for him to provide Cypress with a list of documents in order for Cypress to determine its obligations under the insurance policy.
  *** ******** provided the requested information timely. However, the documentation revealed damages that existed prior to the Cypress policy inception, which were not properly disclosed on the application of insurance. Therefore, on July 15, 2024, Cypress sent a second Request for Material Claims Information Letter requesting an Examination Under Oath (EUO) and an inspection from a licensed engineer to further investigate the facts surrounding this claim.
  On July 23, 2024, the engineer inspected the property on behalf of Cypress; and submitted a report of their findings on August 8, 2024. Additionally, the **** of *** and ************ were completed on August 30, 2024.
  After a complete and thorough investigation, and in consideration of all the relevant documentation, Cypress issued a Denial of Coverage Letter on September 23, 2024. It is the position of Cypress that this loss is not covered under the policy as the damage was the result of long-term, constant and repeated seepage and leakage, that existed prior to the policy inception. 

• Initial Complaint

  12/04/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I recently changed from State Farm to Cypress, and it was the worst mistake I could have made. They initially agreed to insure our family home for $2,758.00. . We signed the agreement and had my mortgage company send them the full payment. After a month I received an email telling me to check my customer portal only to find out they were increasing my insurance by an additional $444, and I only had a few days to pay. Their reason was they quoted me less than it would cost to replace my home if something happened. My agent tried to get them to honor the original quote and they refused. This was the first time I experienced an insurance company not honoring what they quote. Of course, I could not trust that they would not do this again. I had my agent cancel the policy and have them refund my premium they kept $444 and only refunded $2,365.00. This was a breach of the contract therefore they should not have kept any of the premium.

  

  Business response

  12/05/2023

  We have reviewed the concerns *** ***** outlined in his complaint related to his policy with Cypress Property & Casualty Insurance Company (CPCIC).
  While the insured signed an application for coverage, there is a 60-day discovery period that allows underwriting to review the risk to assure it meets all underwriting guidelines, including being insured to an appropriate value.  CPCIC requires home to be insured to 100% of replacement cost.  Insurance companies are not bound by the coverages or credits provided on an application when the review and changes are made within the discovery period.  In this case, coverage was bound effective September 5, 2023, and the underwriting review was completed, and changes made on October 30, 2023, within the 60-day discovery period. 
  Along with verifying eligibility, underwriting confirms the information the agent used in completing the replacement cost estimate on which the requested coverage is based.  Resources used include County property records, an exterior inspection of the home (CPCIC inspects 100% of insured homes at Company expense), and with new purchases, any listing information on the internet.  In the review of this policy and estimate, it was found that the replacement cost estimate provided by the agent omitted or understated features of the home that had a significant impact on the replacement cost.  Specifically, among the items understated were the home’s construction grade, garage size and attached porches.  Additionally, the screen enclosure and inground pool were omitted entirely.
  Coverage was bound at $628,100 based on the agent’s estimate.  The revised estimate prepared by underwriting, based on the inspection and property record information resulted in a replacement cost of $773,100.  When there is a need to increase coverage this dramatically, CPCIC compromises on the coverage change, increasing to 90% of the revised replacement cost.  In this case, coverage was increased to $695,800.
  The premium increased not only due to the change in dwelling coverage, but also because the hip roof credit was removed due to the home’s roof being more than 10% non-hip and the indicator for the screen enclosure was corrected to Yes.  Each of these changes impacts rate. 
  *** ***** chose to cancel his policy with a cancellation date of November 1, 2023.  As a result, CPCIC provided coverage for 58 days.  The refund was calculated based on the earned premium for that period, with fees and surcharges being fully earned.  Had there been a covered loss to the insured property during that period, the claim would have been paid as appropriate under the terms of the contract based on the revised coverage amount. 
  We hope this explains the handling of the policy and refund and regret we are unable to offer *** ***** any further refunded premium.  

• Initial Complaint

  02/22/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I was signed up with my agent ******** Ins Agent for home insurance on 12/14/2023a large sum of money was sent to them as a beginning payment. A payment was set up in my auto Truist bank to withdraw each month until complete amount was received. A second payment was taken out and shortly after a letter came stating I had two weeks to make certain repairs that pictures of my property were taken without my knowledge or consent or my policy wsas cancelled. I immediately called my broker on 2/1 and cancelled my policy. I got new insurance but Cypress refused to cancel my policy unless proof of ndew insurance was provided,which I feel is none of there business. I called my agent and we sent them notice that they received and the policy was finished on the 8th of Feb.Again they with drew a payment well after they sent me a letter stating cancelation. I now have to wait three weeks to have any refund or extra payment only paid by check. That extra money was needed for other bills and new large home insurance payment. They deny getting the proof of new insurance until well after cancelation date. I am 89 and handy caped and feel like I am being taken advantage of. They are mad I cancelled them and are going to make me wait until they are ready to do the refund This is not right.

  

  Business response

  02/27/2023

  Following will address *** ********** concern with the cancellation of her homeowner’s policy with Cypress Property & Casualty Insurance Company, along with the refund of the unearned premium.  The cancellation and payment/refund information are addressed separately.
  We received *** ********** application with coverage effective on December 14, 2022.  A normal part of the review process includes ordering an exterior inspection of the insured property, at company expense, and is done for every application for homeowner’s coverage. 
  The inspection was completed on December 22, 2022.  The underwriting review of the application for coverage occurred on January 26, 2023.  During the review, it was noted on the inspection that there were unacceptable condition issues with the home and a notice of cancellation was issued.  The notice was mailed on January 27, 2023, and provided the reasons for the cancellation along with the coverage expiration date, February 20, 2023. 
  Our records indicate *** ********** agent with ******** Insurance Group, LLC, called our office to discuss the cancellation notice.  The agent was advised we would be unable to reconsider the cancellation.
  On February 3, 2023, we received the insured’s signed request to cancel coverage effective February 2, 2023.  This notice also advised that no replacement coverage had been obtained.  Once a policy has been in force for any period, we require both the insured signature and proof of replacement coverage to cancel.  Proof of replacement coverage was received on February 16, 2023, and the replacement policy was effective February 8, 2023.  CPCIC cancelled *** ********** policy effective February 8, 2023. 
  When a policy is set up for electronic funds transfer, the funds will continue to be withdrawn until either the policyholder or the company cancels the transfers.  In the case of *** ********** policy, her initial payment was transferred on December 9, 2022, and subsequent transfers occurred on January 12, 2023, and February 10, 2023.  Had *** ******** cancelled EFT once she requested the policy be cancelled, one less transfer would have occurred.  Had the policy been allowed to terminate on the cancellation date originally noted, the company would have ceased EFT automatically, effective February 20, 2023.
  CPCIC received payments totaling $1219.  The pro-rated premium earned for the time her home was insured, from December 20, 2022, through February 8, 2023, was $480.00.  A refund in the amount of $739 was mailed to *** ******** on February 24, 2023, at the insured property address.  CPCIC is unable to issue refunds electronically; all refunds are sent by paper check via USPS. 
  We trust this will address the concerns raised by **. ******** and apologize for the inconvenience she experienced.   

• Initial Complaint

  04/13/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I've been with Cypress Insurance for 5 years, this is my first claim for roof damage. Cypress sent an adjuster who found the same issues that the roofing company discovered. I'm getting the run around from ******* the Cypress agent and now I've received notification that my policy will not be renewed next month. This company is absolutely horrible and their customer service is more like customer harassment.

  

  Business response

  04/22/2022

  In response to the BBB complaint, we have reviewed the handling and timeline of this claim.  Here at Cypress, we strive for responsive claim service and approach every claim with a good faith investigation for every coverage available under the Cypress policy.  The loss was initially reported to Cypress by a roofing contractor representing *** ******* on March 22, 2022, with reported hail damage to the roof and exterior of the home.   The home was inspected by Cypress two days later, on March 24th.  The shingle roof was found to be in good condition with no missing shingles and no clear evidence of any hail damage to the roof.  There were also damages claimed to the exterior siding of the home which could not be verified during the inspection.  When the adjuster called *** ******* on April 11th to discuss the findings of the inspection, *** ******* became upset and ended the call abruptly.  To further investigate the potential damages, we have assigned an independent licensed engineer to conduct a field inspection of the property and provide an expert opinion on any wind or hail damages to the property.  The engineer inspection is scheduled for Monday April 25th, and we have requested an expedited report be provided within 7-10 days after the inspection so that we may complete our claim investigation as quickly as possible.  We appreciate the opportunity to address *** *******' concern and thank him for being a valued Cypress policyholder.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩