Velocity Risk Underwriters Review 2019

4.0

Review written by:

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- Policy holder
All my dealings with Velocity have been great!
Chris` Erwin
- Policy holder
- Policy holder

Carrier Overview

Velocity Risk is licenced in 50 states as a general agency and underwrites property programs via A rated carriers.

The company is the only single-source underwriter with a strong appetite and capacity for catastrophe risk. Velocity has the ability to withstand tough catastrophes in the coastal marketplace, due to its significant financial strength, providing homeowners with:

  • A.M. Best “A” rated admitted carriers
  • Unique access to catastrophe expertise and capital resources
  • Exclusive focus on mono-line property exposure
  • Specialized services for coastal and earthquake risk
  • Experienced claims professionals standing by, 24/7

With “A” rated carriers and a focus on catastrophic exposure, Velocity occupies a unique niche in the market, allowing it to provide policy-holders with a variety of coverage options at competitive prices. It is always improving our offerings to better serve our coastal customers. On the horizon, it's rolling out voluntary Homeowners and Dwelling Fire policies; as well as commercial lines. It's also launching a comprehensive homeowners policy in all states we serve.

Phone Number: 844-878-7529

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TYPES OF PRODUCTS OFFERED:

  • Homeowners
  • Commercial
  • Rental Properties
  • Condominiums

How to Buy a Policy

You can purchase a policy with Velocity by reaching out to an appointed agent. If you'd like to get a quick Veloctiy quote online and make a purchase, head over to HoneyQuote.com.

Velocity urges you to contact a local independent agent to get a quote and information about coverage options. Velocity can help you to get in touch with an agent near you by calling its customer service number.

Get a quote from Velocity here.

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Discounts offered

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TYPES OF DISCOUNTS

How to make payments

You can make a payment on your policy with Velocity directly on its website. You can pay via a personal check, or using your credit card. All payments received after 8:00 PM ET may be processed the following business day. Weekend/Holiday payments will be processed the next business day.

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How to File a Claim

If you’d like to quickly and conveniently report a claim:

  • Call 24/7 at 844­-VRU-­CLMS (844-­878-­2567),
  • Reach out to your agent, or
  • File a claim online using the appropriate option below:

For homeowners, click here and use client access code vel6475.

For small commercial, click here and use client access code vel6942 or email your claim to smallbusiness.claims@velocityrisk.com.

For large commercial, click here and use client access code vel6459 or email your claim to business.claims@velocityrisk.com.

Call 800-779-4259 for all claim inquiries.  Please send any claims-related documents to claimdocuments@velocityrisk.com. Include your claim number in the subject line of the email and these documents will be routed directly to the assigned account manager for handling.

Every claim is unique; however, all claims at Velocity generally follow these three phases:

1. Contact and Claims Advancement

After reporting your claim, it will be assigned to a claim professional. This claim handler will guide you through the process and work with a team of other associated claim professionals to manage your claim promptly and accurately to conclusion. In this phase, you will be contacted by your claim professional and he/she will:

  • Fully explain the claims process
  • Schedule an inspection of your damaged property/business if needed
  • Determine and investigate the loss and applicable policy coverages and benefits
  • Explain the Velocity Direct Repair™ program
  • Work with you to coordinate any needed emergency repairs or mitigation efforts
  • Answer any questions you may have pertaining to your claim
  • Clarify the next step in the process

2. Evaluation

If an inspection of your property is needed, the claim professional will meet with you on location.They will:

  • Discuss your damages
  • Gather all the facts about your loss
  • Investigate the cause of loss
  • Take photos to document the damages
  • Evaluate your loss and/or complete an estimate
  • Possibly secure necessary samples for further evaluation

3. Settlement and Conclusion

The claim professional should contact you within the agreed time period established at the inspection or last contact. In this phase, the claim professional will explain the application of policy coverages to any settlement, disclaimer or partial disclaimer. If there is a full or partial disclaimer or denial of coverage, Velocity will provide you a letter setting forth the exact reason for such disclaimer, citing specific policy language to support that decision.

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INFORMATION YOU NEED ON HAND:

  • ‍Policy number
  • Date of loss
  • Address
  • Contact numbers
  • Any photos or estimates

Reinsurance program

Career Opportunities

Velocity is always looking for smart and talented people who share its same core values to join its team. Here are the latest opportunities.

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How to Become an Agent 

You can apply to become an agent directly on the Velocity website. After filling out a questionnaire only, giving information about your agency, a separate appointment packet will be forwarded to you by a market representative.

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