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Old 08-12-2007, 09:27 AM
 
Location: Living in Paradise
5,701 posts, read 24,164,292 times
Reputation: 3064

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This week is the showdown between State Farm & Florida Office of Insurance Regulation. SF was planning on not renewing the homeowner policies in "areas with high propensity for hurricane losses." Just leave the state and we all drop the auto policies... Difficult times ahead....

State Farm Won' t Cover Coastal Homeowners - Central Florida News 13
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Old 08-12-2007, 09:30 AM
 
Location: Florida
2,209 posts, read 7,657,411 times
Reputation: 638
Are you suggesting that government should force State Farm to insure people it doesn't want to insure?
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Old 08-12-2007, 09:52 AM
 
Location: Living in Paradise
5,701 posts, read 24,164,292 times
Reputation: 3064
Quote:
Originally Posted by MrTudo View Post
Are you suggesting that government should force State Farm to insure people it doesn't want to insure?
Never. But how can a state insurance company (smaller business) provide better rate than the big names insurance? The guy that I work for received a letter from State Farm increasing his premium to $5,500 per year (older home, close to water). I refer with to my insurance broker and a state insurance company got him almost 50% savings.

So we need to do research, another friend mentioned that USAA is getting ready to increase premiums in the near future (he got a letter). The great majority of the folks insured are military and many are also looking for less expensive insurance companies...
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Old 08-12-2007, 10:00 AM
 
14 posts, read 63,441 times
Reputation: 15
Sate Farm wants to drop everyone East of 95 .... here in PB county (Boca , Delray , Boynton) they want to drop everyone east of Congress Ave. ... its a mess , soon everyone will be forced into crappy Citizens .... until the next big storm ... I honestly beleive when that hits nobody will write in Florida & Citizens will be bankrupt.
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Old 08-12-2007, 10:01 AM
 
Location: Florida
2,209 posts, read 7,657,411 times
Reputation: 638
I have state farm for the jeep, and interestingly enough a whole life policy for my Wife. It's like the old fashioned whole life policies of old that big insurers like prudential do not offer anymore ( I know because I have a paid up one that my Parents bought for me when I was born, in 1955. I wanted to buy a similar product as a diversification, for my Wife who was born in 1979 and got a great rate from State Farm of all places and was treated in an exemplary way whereas the agents from prudential were like cheap used car salesmen)

I asked the State Farm agents when they were writing up our whole life policy about that and they agreed that we should avoid SF for homoeowners.

We also bought a jewelry policy which was really painless and inexpensive as well.
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Old 08-12-2007, 05:14 PM
 
Location: Central Fl
2,903 posts, read 12,536,485 times
Reputation: 2901
Does anyone know anything about Universal Insurance company of North America?
That is what the Allstate agent deals with in Florida. I checked their website and it seemed ok..."A" (excellent) rating by A.M. Best...

Frank D.

Last edited by faithfulFrank; 08-12-2007 at 05:17 PM.. Reason: correct rating
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Old 08-12-2007, 05:29 PM
 
Location: Central Fl
2,903 posts, read 12,536,485 times
Reputation: 2901
Last February when we were shopping for homeowners insurance for the "new" house, I stopped by the state farm place.........they would not give me a state farm policy in Leesburg because I was not a state farm customer already, and also because my asphalt roof was not less then two years old.

Here in NY, I was a total State Farm customer for years, but switched about two years ago.

They did offer me a policy from a company called citizens....they told me they were awesome.....almost as good as State Farm.

I ended up going with the company I posted about above. I was kind of shocked with the whole Florida Homeowners insurance thing.....here in NY, I insure a 300k home for $457 a year. In Leesburg, a approx 200k home cost almost $1133 to insure.

Oh well....in a few years, the sale of my snowblower will help offset that.

Frank D.
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Old 03-19-2008, 12:19 PM
 
1 posts, read 2,842 times
Reputation: 10
My husband and I own a home in Fenwick Island, DE. We are located on a canal, however, the development has never experienced any major flooding involving property damage. Our home was actually a trailer with a foundation and was over 30 years old, which we purchased in July of 2000. I had no problem insuring with State Farm and have all my insurance policies with them. Last summer, we started experiencing major problems with the heating, etc., and made the decision to tear down and rebuild, which we did. Our new home is a modular home and even sits 3 feet higher than our old home. I called State Farm to have the insurance transferred and at first, was told they were not underwriting any homes on the East Coast. When I told them that I already had insurance, they said that they could just transfer the insurance... they thought I was inquiring about new insurance. So, I went through all the questions, etc., and now a month later, get a phone call from them saying that they are not going to insure my home... that they will not transfer my insurance policy to my new home. I think it is terrible that an insurance company is allowed to do this to people.... something should be done... all the money they make!
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Old 03-19-2008, 02:05 PM
 
Location: Palm Island and North Port
7,511 posts, read 22,925,572 times
Reputation: 2879
Gypsychic posted a really helpful link a few days ago. Of course, you would have to check with your agent to verify your rate but it's interesting to see the comparison:
Compare Homeowner's Insurance Rates
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Old 03-20-2008, 07:06 AM
 
4,423 posts, read 7,369,132 times
Reputation: 10940
Quote:
Originally Posted by skitch View Post
Sate Farm wants to drop everyone East of 95 .... here in PB county (Boca , Delray , Boynton) they want to drop everyone east of Congress Ave. ... its a mess , soon everyone will be forced into crappy Citizens .... until the next big storm ... I honestly beleive when that hits nobody will write in Florida & Citizens will be bankrupt.
We just switched to State Farm and we're east of 95 but we're in Indian River County.
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