---
title: "Palomar Specialty Insurance Review [Updated 2026]"
description: "Palomar Insurance is a hurricane, flood, and earthquake insurer that offers customers a private alternative to programs like the California Earthquake Authority and the National Flood Insurance Program."
canonical: "https://www.coveragecat.com/reviews/palomar-specialty-insurance-review"
last-updated: "2026-07-15"
---
# Palomar Specialty Insurance Review [Updated 2026]
1. [Introduction to Palomar Insurance](#introduction)
2. [What Kinds of Insurance Does Palomar Offer?](#kindsofinsurance)
3. [How Does Palomar Insurance Work?](#howdoesitwork)
4. [Pros and Cons of Palomar Insurance](#proscons)
5. [Get Customer Support Or File A Claim For Palomar Insurance](#customersupport)
6. [Frequently Asked Questions](#faq)
### Introduction to Palomar
Founded in 2014, Palomar Holdings, Inc., is a publicly traded specialty insurer (NASDAQ: PLMR) that focuses on Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop insurance. It has a number of insurance subsidiaries, including Palomar Specialty Insurance Co., Palomar Specialty Reinsurance Co. Bermuda Ltd., Palomar Insurance Agency, Inc., and Palomar Excess and Surplus Insurance Co. These subsidiaries sell [specialty insurance products](https://ir.palomarspecialty.com/) for residential and commercial clients in markets where larger insurers may not be present or may offer a limited range of products.
[Palomar was founded by a group of executives who identified gaps in certain insurance segments](https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/palomar-gets-boost-from-investors-after-solid-reinsurance-renewal-76015597), such as earthquake, and developed analytical tools with more refined variables such as detailed construction costs and distance from fault lines. The company is headquartered in La Jolla, California, and its management team averages more than 20 years of relevant experience in insurance, reinsurance, and capital markets. [(U.S. Securities and Exchange Commission / Palomar Holdings, Inc., "Palomar Holdings, Inc. – 10-K Annual Report (FY2024)", 2025)](https://www.sec.gov/Archives/edgar/data/1761312/000143774925005069/plmr20241231_10k.htm) CEO Mac Armstrong previously served as President of Arrowhead General Insurance Agency before its sale to Brown & Brown, Inc. in 2012. [(Palomar Holdings, Inc., "About – Palomar", 2026)](https://plmr.com/about/)
In January 2026, Palomar completed the acquisition of The Gray Casualty & Surety Company, subsequently renamed Palomar Casualty and Surety Company, and simultaneously closed a new $450 million unsecured credit facility. [(Palomar Holdings, Inc. / GlobeNewswire, "Palomar Holdings, Inc. Completes Acquisition of The Gray Casualty & Surety Company and Closes $450 Million Credit Facility", 2026)](https://ir.palomarspecialty.com/news-releases/news-release-details/palomar-holdings-inc-completes-acquisition-gray-casualty-surety) The company reported Q1 2026 revenue of $278.9 million, up 59.7% year-over-year, and raised its full-year 2026 adjusted net income guidance to $266–$280 million. [(StockStory, "PLMR Q1 Deep Dive: Specialty Insurance Expansion Drives Growth, Margins Face Mix Shift", 2026)](https://stockstory.org/us/stocks/nasdaq/plmr/news/earnings-call/plmr-q1-deep-dive-specialty-insurance-expansion-drives-growth-margins-face-mix-shift)
### What Kinds of Insurance Does Palomar Offer?
Palomar's residential insurance offerings include [earthquake, flood, and hurricane insurance](https://plmr.com/products-coverages/) which supplement basic homeowners insurance. Palomar sells [hurricane insurance](https://plmr.com/residential-hurricane/) in Hawaii, [flood insurance](https://plmr.com/residential-products/) in 31 states, and [earthquake insurance](https://plmr.com/residential-earthquake-insurance/) in 19 states. Palomar policies are stand-alone alternatives to options such as the [California Earthquake Authority](https://www.earthquakeauthority.com/) and the [National Flood Insurance Program](https://www.floodsmart.gov/).
The table below summarizes Palomar's main residential product lines, where they are available, and the coverage limits that apply.
| Product | States Available | Max Dwelling Coverage | Max Personal Property | Max Loss of Use |
|---|---|---|---|---|
| Earthquake Insurance | 19 states | Varies by policy | Varies by policy | Varies by policy |
| Flood Insurance | 31 states | $5 million | $1 million | $50,000 |
| Hurricane Insurance | Hawaii | $10 million total insured value | Included | Included |
### Does Palomar Sell Auto Insurance?
No, Palomar does not sell personal auto insurance policies. It does, however, sell non-standard commercial auto insurance geared toward drivers who are considered high-risk because they have poor driving records, are inexperienced, are older, or for other reasons. These policies are sold through Palomar's fronting operation, PLMR-FRONT.
### Does Palomar Sell Homeowners Insurance?
No, Palomar's residential offerings do not include comprehensive homeowners, condo, landlord, or renters insurance policies. Palomar sells hurricane, flood, and earthquake insurance. These policies are designed to supplement standard homeowners insurance, which does not cover damage from these catastrophic events.
Residents of Hawaii can purchase [residential hurricane insurance](https://plmr.com/residential-hurricane/) from Laulima Exchange, Palomar Excess and Surplus Insurance Co., or Palomar Specialty Insurance Co. Palomar's residential insurance can be purchased for homeowners, rental dwellings, and condo-unit owners for policies up to $10 million of total insured value, which can include [replacement cost](https://www.ncdoi.gov/consumers/homeowners-insurance/actual-cash-value-vs-replacement-cost-value), [fair rental value](https://www.irmi.com/term/insurance-definitions/fair-rental-value-coverage), [ordinance or law](https://www.irmi.com/term/insurance-definitions/ordinance-or-law-coverage), and demand surge. The policies cover a wide variety of dwelling construction types and offer a range of deductibles.
For earthquake coverage specifically, acceptable construction types include wood frame, steel, stucco/frame, brick veneer, and masonry. Retrofitting is not required, but discounts are available for pre-1973 dwellings that have been retrofitted. Eligible occupancies include primary dwellings, condo units, occupied rental properties, and vacation or secondary residences. [(Palomar Holdings, Inc., "Residential Earthquake Insurance – Palomar", 2025)](https://plmr.com/residential-earthquake-insurance/)
Palomar sells [flood insurance](https://plmr.com/residential-products/) in 31 states. Depending on the policy, Palomar flood insurance can cover damage to dwellings (up to $5 million), personal belongings ($1 million), and loss of use (up to $50,000). Palomar is a private alternative to the National Flood Insurance Program and, as a result, requirements to purchase a Palomar policy may be less stringent and flood coverage may be available faster. Homes with certain risks such as flood damage within the last 10 years or that are over water may be subject to additional restrictions.
### Palomar Sell Liability Insurance?
No, Palomar does not provide liability coverage through its earthquake, hurricane, or flood policies. Customers interested in liability coverage for their house, condo, or rental should secure liability coverage through their homeowners, condo, or landlord policy and personal umbrella coverage.
### How Does Palomar Insurance Work?
Palomar [sells insurance](https://ir.palomarspecialty.com/) through a network of brokers, program administrators, and other insurance companies. This network may design customized policies, underwrite, or even address claims. Palomar uses proprietary data analytics and modern technology for customized, granular pricing in both admitted and excess and surplus markets, which allows it to write risks that standard carriers often decline. [(U.S. Securities and Exchange Commission / Palomar Holdings, Inc., "Palomar Holdings, Inc. – 10-K Annual Report (FY2024)", 2025)](https://www.sec.gov/Archives/edgar/data/1761312/000143774925005069/plmr20241231_10k.htm)
To manage the risk it takes on, Palomar maintains substantial reinsurance capacity. As of June 2026, the company held $3.92 billion in reinsurance coverage for earthquake events and $135 million for continental U.S. hurricane events, including $1.28 billion sourced through insurance-linked securities such as its Torrey Pines Re catastrophe bond program. [(GlobeNewswire / Palomar Holdings, Inc., "Palomar Holdings, Inc. Announces Successful Completion of June 1 Reinsurance Placement", 2026)](https://www.globenewswire.com/news-release/2026/05/29/3303576/0/en/Palomar-Holdings-Inc-Announces-Successful-Completion-of-June-1-Reinsurance-Placement.html)
## Pros and Cons of Palomar
The table below summarizes Palomar's key ratings, regulatory standing, and policy characteristics compared with the main government-backed alternatives.
| Factor | Palomar Specialty | California Earthquake Authority | National Flood Insurance Program |
|---|---|---|---|
| AM Best Financial Strength | A (Excellent), affirmed 2025 | Not rated (state agency) | Not rated (federal program) |
| Admitted / Non-Admitted | Both (varies by product) | Admitted | Federal program |
| Carrier Restrictions | None | Must use CEA-participating carrier | None |
| Wait Period | Shorter (private market) | 10 days | 30 days (typical) |
| Max Dwelling Coverage | $5M (flood); $10M (hurricane) | Varies by policy tier | $250,000 |
| Guaranty Fund Protection | Only on admitted policies | State-backed | Federal-backed |
| Regulatory Actions (FL) | 2020 and 2023 Consent Orders | N/A | N/A |
### Get Customer Support Or File A Claim For Palomar Insurance
Palomar customers can choose to receive customer support through their customer portal, email, phone, or fax.
Call: 619-567-5290
Email: PassHelpDesk@plmr.com
Fax: 619-567-6954
For current policyholders, the [Palomar Insurance portal](https://insuredportal.plmr.com/) is available to pay bills and access policy documents.
Customers who need to report a claim can email or submit a claim form through Palomar's online claim forms. Palomar's stated position on claims is that "when a claim arises, responsiveness matters," and the company says it acts quickly and communicates clearly to help policyholders navigate next steps. [(Palomar Specialty Insurance Company, "Claims Submissions – Palomar", 2026)](https://palomarspecialty.com/claims-submissions/)
**Palomar Insurance Policyholders**
* Call: (844) 560-7401
* Email: [Claims@plmr.com](mailto:Claims@plmr.com)
* [Online Claim Form](https://plmr.com/claims-submissions/)
**Palomar Excess & Surplus Insurance Company Policyholders**
* Email: [ESClaims@plmr.com](mailto:ESClaims@plmr.com)
* [Online Claim Form](https://plmr.com/excess-surplus-claims-submissions/)
Palomar does not appear in major J.D. Power homeowners insurance satisfaction studies, likely because of its specialty and wholesale distribution model. Consumer review volume on third-party platforms is limited. That low volume makes it difficult to draw broad conclusions about Palomar Specialty Insurance claims or complaints. On the financial side, AM Best upgraded Palomar's Financial Strength Rating to A (Excellent) in July 2024, citing "very strong" balance sheet strength and strong operating performance. [(AM Best, "AM Best Upgrades Credit Ratings for Palomar Holdings, Inc. and Its Member Companies", 2024)](https://news.ambest.com/pr/PressContent.aspx?refnum=34959&altsrc=2) Palomar's own website confirms that each of its insurance subsidiaries carries an A (Excellent) rating. [(Palomar, "Financial Strength", 2024)](https://plmr.com/financial-strength/)
### Frequently Asked Questions
### Should I Buy Palomar Insurance
Palomar offers specialty insurance products in select states. Whether you should buy coverage depends on a series of factors, including your location, your home's level of risk, and available options. [According to the California Earthquake Authority, the probability of an earthquake of a magnitude of 6.7 that could inflict significant damage to Californians is almost 100%](https://www.earthquakeauthority.com/California-Earthquake-Risk/Faults-By-County). The National Flood Insurance Program also estimates that, [from 2014-2018, policyholders outside of high-risk flood areas filed over 40% of flood insurance claims](https://www.floodsmart.gov/flood-zones-and-maps/what-is-my-flood-risk). If you live in a state or area prone to earthquakes or floods, traditional homeowners, condo, or landlord policies specifically exclude coverage for these risks.
### Is Palomar a Real Insurance Company?
Palomar is a real insurance company. Founded in 2014 and publicly traded on NASDAQ under ticker PLMR, it specializes in catastrophic coverage and uses proprietary analytics to underwrite risks that standard insurers typically avoid. [(Palomar Holdings, Inc., "About – Palomar", 2026)](https://plmr.com/about/) Note that the name "Palomar Insurance" also returns results for a separate, unrelated commercial insurance agency based in Montgomery, Alabama — the two companies share no connection.
### How Does Palomar Make Money?
Palomar makes money by investing the cash from the premiums paid by its policyholders for its insurance policies and by managing its expenses, including claims, operating, and reinsurance costs. In an August 2024 [press release](https://www.globenewswire.com/news-release/2024/08/09/2927496/0/en/Palomar-Holdings-Inc-Announces-Pricing-of-Public-Offering-of-Common-Stock.html), Palomar explains its recent public offering of stock to allow it to acquire companies and expand offerings with the objective of selling more policies. The company has since completed the acquisition of The Gray Casualty & Surety Company and raised full-year 2026 adjusted net income guidance to $266–$280 million. [(GlobeNewswire / Palomar Holdings, Inc., "Palomar Holdings, Inc. Announces Successful Completion of June 1 Reinsurance Placement", 2026)](https://www.globenewswire.com/news-release/2026/05/29/3303576/0/en/Palomar-Holdings-Inc-Announces-Successful-Completion-of-June-1-Reinsurance-Placement.html)
### Is Using Palomar Insurance Worth It?
Given the risks of damages to dwellings and properties, it is worth considering earthquake, flood, or hurricane insurance if you live in a high-risk area and could not afford to rebuild your home. Mortgage lenders may also require that you purchase additional coverages depending on your area's risk profile. Palomar prices may or may not be lower than governmental programs such as the National Flood Insurance Program and California Earthquake Authority, but Palomar's policies provide additional benefits such as varied coverage and deductible options, fewer restrictions on underlying home carriers, and potentially shorter wait periods before coverage begins. Palomar does not publish rates on its website, so prospective buyers should work with an agent or broker to get a quote and compare it against CEA or NFIP pricing for their specific property.
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