Customer ReviewsforCypress Property & Casualty Insurance Company

STAY AWAY FROM THIS COMPANY. They will rob you as they did with me (stole $****** in three months) . Originally I signed the contract for 1 year for the amount of$2297. Two months later they decided to increase coverage and cost by themself for $738. They also charged my mortgage company without my permission. I decided to cancel this insurance and get my money back for those 9 months which I haven'tused yet, but this is where their SCAM scheme was used. They gave me a return check of $2213 not based on the original amount which was in contract $2297 but based on the amount with that additional charge of $738 which they got without my approval from the mortgage company. They charged me for three months based of $2297+$738=$3035. Here is the math which I provided for them:2297/12=191.41 monthly payment 191.41*3=574.23 my charge for the 3 month 2297-574.23=1722.77 part of my return 1722.77+738=2460.77 this the amount which you should return to me ************=****** amount which you still owe me.But they don't care because they already got my money. I was talking to customer service team Leader - ***************************, and director of customer service ******************. They didn't do anything and just said we will no longer be able to ********* because your coverage has been canceled.People don't trust anybody'swords in that company and don't believethat your original price will stay the same for the whole year like it should be according to the signed contract. THIS IS THE WORST EXPERIENCE EVER, DON'T TRUST THEM.

Cypress Property & Casualty Insurance Company requires that all homes are insured to 100% of the replacement cost based on an industry accepted estimating tool, ISO360 Value. In the case of the application for ******************, the estimate run by the agent at the time of the application resulted in a replacement cost of $482,400. However, the agent amended this value on the application to $333,000 and wrote coverage for $333,000, instead of appropriately writing it for $482,400. The policy was effective on August 4, 2023.All companies have a 60-day underwriting discovery period in which to assure a property meets all underwriting criteria, including being insured to value. In this case, and after the underwriting review of the replacement cost tool, it was determined that the coverage needed to be increased to $464,200, to meet the insurance-to-value requirement. This change was made within discovery and a revised declaration was sent along with a separate email to the agent regarding the change in coverage. The permission of the policyholder is not required to make this change.The change in coverage resulted in an increase in the annual premium from the $2297 to $3035. Both amounts include applicable fees that total $100. ****************** requested cancellation of coverage effective November 2, 2023. The cancellation was based on the revised premium since, had there been a covered loss during the 90 days of coverage, that claim payment would have been based on the revised coverage amounts. As a result, a refund of $2213 was sent, which represents the pro-rated premium for 90 days of coverage. The refund amount does not include the fees, which are fully earned from the first day of coverage. The company retained $822, comprised of the earned premium of $722 plus the $100 in fees. There was no attempt to mislead or improperly refund ******************. We regret that the initial underinsurance of the property resulted in his dissatisfaction.

This company insured our ******* home since 2010. In 2022 hurricane *** caused damage to our home. After an adjustor came, Cypress agreed to pay for the minor repairs. In the next few months, as labor and materials became available, all damage was repaired. Last summer Cypress sent a letter stating policy would be cancelled unless we provided proof all damaged had been repaired. We immediately provided the information to the email given. Left several message in the telephone provided. There was no acknowledgment and with renewal date approaching, we sent all the information they required by certified mail. Followed up by phone calls and emails no one returned. Bottom line, they cancelled the policy even though we provided what they asked for. And, the worst part, Cypress ignored our communication, did not officially and in due time informed us of cancellation. If they no longer wish to do business in *******, they should just say so.

In review of our records, Cypress Property & Casualty Insurance Company (CPCIC) did not send any request for proof of repairs. The reason the policy was non-renewed was due to the property being located in an area where CPCIC was reducing policy counts and the related policy coverage limits. This is the reason provided on the non-renewal notice sent to *********************. It is always unfortunate when a company must take such action, but it is necessary when a review of inforce policies, along with the companys overall loss frequency and severity, indicates such action is necessary to maintain the financial health of the company to enable it to meet the needs of its policyholders now and in the future. We regret this action was necessary and trust ********************* has found suitable replacement coverage for her property.

Blocking the sale of my house because they wont release RCV to my contractor even though per the policy if proof of finished work is provided the rest of the funds will be released , they consistently ask for more information that we provide immediately and do not care they are doing something illegal Your policy provides replacement cost coverage and you may be permitted to recover the amount listed in the table as Recoverable Depreciation. To claim this additional amount, you should complete repairs and/or replacement of the depreciated items and submit the information outlined below. Please refer to the Loss Settlement provision of your policy for completed details.Please submit a minimum of two (2) of the following items to assist in our review of your claim for recoverable depreciation:Final invoice or receipts reflecting the scope of repairs and the total cost of repairs.Signed letter of completion on company letterhead from your contractor stating that the work has been completed to your satisfaction and the total amount of the repairs. Photos showing the completed work.Copies of canceled checks for which you made payment to your contractor for the work completed.My contractor has provided this and yet they still wont release the funds

This response is in relation to a BBB review indicating that Cypress is blocking the sale of the home due to a refusal to release the *** (Replacement Cost Value).Cypress first received the request for *** on October 27, 2023, when the contractor submitted the proposal and photos of completed work. Cypress immediately responded to the contractor and requested a final invoice reflecting the scope of repairs and the total cost of repairs, which is consistent with our settlement letter instructions on how to recover *** after a loss. The contractor responded on October 27, 2023, indicating that all the repairs had not been fully completed. On November 2, 2023, the contractor submitted an updated invoice, but it did not reflect the scope of repairs and the total cost of repairs. Cypress responded immediately that the invoice was incomplete. On November 6, 2023, the contractor submitted another incomplete invoice that did not reflect the scope of repairs and the total cost of repairs.Finally, on November 13, 2023, the contractor submitted a final invoice that reflected the scope of repairs that had been completed and the total cost of repairs along with photos supporting what repairs were completed. On November 14, Cypress released a payment for the *** on the portion of repairs that had been completed and issued a letter confirming the same. The payment was sent overnight mail to expedite the receipt of payment.We appreciate the opportunity to resolve Mr. and Mrs. *********** concern and value all our Cypress policyholders.

They had our back during Hurricane *** and I will always be grateful for their professionalism and how easy they made it for us!

We at Cypress Property & Casualty Insurance Company appreciate ************* taking the time to share her claims experience. Our team always endeavors to take care of our customers, which can be especially challenging after an event such as Hurricane ***. It is gratifying to know when our efforts have met or exceeded our customers expectations.

We have been with Cypress for 2-years, never made a claim, even after *** hit. Then we get a new policy in the mail, called with question and they tell us we are being cancelled. What a pile of B. S. Dont use them.

We have discussed the non-renewal with the policyholder and have resolved the matter to their satisfaction.

Everything has been satisfactory taken care of .

I am very happy with Cypress. They came out right away to look at our damage after hurricane ***. We were fully paid within the 3 month time frame. Our home owners went up about 700 dollars for next year. I guess that's not bad from what I've been hearing on the news. I know so many people that are having a hard time getting other insurance companies to pay them. I am definitely staying with Cypress.

We at Cypress Property & Casualty Insurance Company appreciate ***************** taking the time to acknowledge her claims experience. Our team always endeavors to take care of our customers, which can be especially challenging after an event such as Hurricane ***. It is gratifying to know when our efforts have met or exceeded our customers expectations. We also recognize the impact rising insurance costs have on all consumers and strive to maintain a competitive product while also assuring a sound financial position in order to take care of our customers when they need us most.

I live in ********** **. Cypress has been absolutely fantastic with our claim. My house was right outside Hurricane Ians eye wall on 9/28/2022. A new roof, fence, some personal items, the adjusters were so helpful! I highly recommend and appreciate their cooperation!

We at Cypress Property & Casualty Insurance Company appreciate **************** taking the time to acknowledge his claims experience. Our team always endeavors to take care of our customers, which can be especially challenging after an event such as Hurricane ***. It is gratifying to know when our efforts have met or exceeded our customers expectations.

I started coverage with Cypress on May 28,2022. On June 2,2022 we had a hail storm hit our area. We lost shingles and sustained moderate damage. Made the call to Cypress and they were very quick with their response. Cypress sent out an adjuster and everything went smoothly. He found lots of hail damage and even commented on serval homes in our area sustaining hail damage. Then while waiting for a reply from Cypress I find out that Im being canceled. I called and it was explained to me that it was do to roof damage etc.. I said Im making a claim right now, I would hate that Cypress will have to pay for it when the damage is from the storm. I explained that I would have no problem keeping them and even understand if there was a slight increase due to me filling a claim. A couple of days later I find out that they are denying my claim, saying that yes there was damage but there was no hail storm on that date. I couldnt believe it. I kept asking if he was being serious. I explained that a simple ****** search showed that my area has in fact been through a hail storm and went on to further explain that I had video and pictures from that day showing the hail. I said not only do I have that but my neighbors, who are getting new roofs because of the hail damage, have video and pics as well. He was polite and apologetic but said that according to their sources we had not had a hail storm since 2019. Which is crazy because along the coast here we get them every year. I was and am still floored that they can claim there was no storm. I personally believe that they are just upset about my filing so quickly.

In response to the BBB review/complaint, we have reviewed the handling and coverage of this claim as well as the underwriting cancellation of the policy. 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. Regarding the claim for roof damages, it was filed on August 10, 2022 referencing a date of loss of June 2, 2022. The claim inspection was completed on August 12, 2022. and confirmed wind and hail damage to the roof, with interior water damage. ************ showed the last hail event within three miles of loss location was on April 19, 2015. The last wind event at the loss location was on October 27, 2021. Based on the investigation, the roof damage was denied as damage existing prior to our policy inception. Coverage was provided for the interior damages due to wind driven rain; however, the estimate for interior damages fell below the insureds policy deductible. On August 29, 2022 the adjuster spoke with the insured and explained the basis for denial of roof damages and coverage for interior damages. The insured hired a Public Adjuster on September 20, 2022 who is insisting a hail event occurred on June 2nd. 2022. The claim has been reopened and reassigned for further investigation. On September 28, 2022, we retained an engineering expert to perform a weather data analysis. The claim is currently pending the experts report and will be reviewed further once the additional analysis is received. The cancellation of the policy noted by the insured resulted from the underwriting review of the exterior inspection of the property completed on May 31, 2022 (Cypress inspects 100% of all insured homes). The application for coverage that was effective on May 28 2022, indicated there was no existing or unrepaired damage to the home. The underwriting review of the inspection photos indicated the roof showed signs of aging due to loss of aggregate along with lifting and curling shingles. Additionally, there were signs of prior damage, as one area of the roof had been patched. Based on this review, a notice of cancellation was issued on July 19, 2022, due to the roof being in disrepair, and coverage expired on August 22, 2022. We regret we are unable to offer reconsideration of the cancellation decision. Thank you for allowing Cypress to address your concerns.

This company is horrible. I live in a non flood zone neighborhood and this company overcharged me for insurance and then I get a 20% rate hike the next year. I get a cancellation notice because they say they are reducing policy accounts. Dont accept their ******** rate and get dropped the next year. Go to a reputable company that invests in ******* homeowners and doesnt drop them. I have discussed this with the **************** also and sent a letter to the ******* Office of Insurance Regulation. These people wanna leave homeowners stressing out over finding insurance because they want to limit their exposure. Cant wait till they request rate hikes and have to prove their business practices. Ill continue to send letters to the department

To address ******************, will take them one at a time:All ******* insurance companies review their rate structures and premiums charged at least once annually. To obtain a rate increase, the company submits their request to the ******* Office of Insurance Regulation for review and approval. Actuarial documentation that includes things like loss results and related costs are included to support the requested increase. If the overall increase sought is over 15%, the company must attend a hearing to answer questions in support of the increase. The Insurance Department approves all rate changes. The current insurance climate in ******* is very difficult. A growing number of companies no longer do business in the state, most because they were no longer financially viable. This has created difficulty for the remaining companies, who must look at the ways necessary to maintain a solid financial footing to enable them to continue to provide the services guaranteed in the insurance contract. That is why, as **************** noted, companies take action to reduce their exposures by reducing policy counts. This happens most often in an area where the number of claims and payment amounts are greater than expected and out of line with other areas of the state. This was true in the area in which ****************** home is located. His was among a group of policies that were non-renewed for exposure management. We regret that the rate increase experienced and subsequent non-renewal of his policy has caused **************** such dissatisfaction. We trust he will find suitable replacement coverage for his home.

Been dealing with Cypress for 3-4 years ..This year insurance price is up close to 20% THEN to gauge more they have created this NONREFUNDABLE "Convenience Fee"... to suck a little more blood out of the customers

Up until this renewal, ****************** paid his annual premium in full. This year, he elected to pay using one of the installment plans offered. A payment plan set-up fee of $10 was applied to his policy to set up payments to be drafted automatically and is only charged on the initial payment. There is a $3.50 installment fee on each of the remaining payments for the installment plan ****************** chose. We noted that the policy premium has now been paid in full using a credit card. The convenience fee to which ****************** refers, is an amount Cypress Property & Casualty Insurance Company (CPCIC) company charges for credit card payments to offset the fee CPCIC pays to the credit card company. The convenience fee is standard with many insurance companies and other businesses. Generally, all these fees are non-refundable. However, based on the recent payment activity on Mr. ******** policy, we are in the process of refunding $13.50 to ******************, accounting for the $10 pay plan set up fee and the first installment payment of $3.50 charged to his policy.We also recommend, if ****************** wishes to pay future renewal premiums in full, that he contacts his agent to change the payment option back to full pay to avoid the payment plan set-up fee being charged at his next renewal.

Of course, some of the facts don't ring true.As I said, it's not the money it's the fact that our agent repeated over and over again it was MASTER CHARGE that was getting the billing fee (who I would phone to wave the fee as it's never been done before) it was a new charge.I did ask our agent for monthly billing as we were trying to sell our condo.She told us it will come from Cypress. IT NEVER CAME. I called back the agent and she said she would check into it.NEVER HEARD from Cypress till I seen paid **** with the extra charges.If I knew of these extra charges and CONVIENCE FEE. I gladly would have put the amount directly through my bank.

We understand Mr. ******** concern and frustration regarding the payment issues associated with his policy. Changing payment plans is a process and ****************** was sent an amended declarations page confirming his payment plan had been updated to an installment plan. When he chose to make the full payment, the system was still set for installments, which is why his policy included pay plan fees, in the amount of $13.50. The $13.50 in pay plan fees has been credited to his policy. To clarify, the convenience fee is an amount applied to the total transaction at the time the credit card is used to make the premium payment. The payer must accept the fee before the payment can be processed. The amount of the fee equals the amount necessary to offset the cost CPCIC incurs by offering the convenience of paying by credit card to our customers. A convenience fee is used by many insurance companies and other businesses when their customers pay for good or services using a credit card. CPCIC does not profit in any way from the convenience fee. We sincerely regret the concern and inconvenience caused ****************** by the information he was provided regarding the convenience fee. Steps are being taken to assure our agency partners have a clear understanding of the convenience fee and its purpose; to allow CPCIC to recoup the expense incurred when accepting credit card payments from our policyholders. We trust this additional training will help prevent future misunderstandings.