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Old 03-11-2009, 02:05 PM
 
Location: Miami
6,457 posts, read 12,974,234 times
Reputation: 2488

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I have gotten two of these notices so far in the last year. When I did research on the first letter that came, the two companies that i could of gone with were both highly rated companies (which is great), and my premium would have dropped too, but they were both small companies. The reason we are with Citizens now is because two or three years ago (I can't remember now) the company we were with (a small company) closed in the state of Florida. Citizens was the only option a the time. As long as the companies that are sent to me in these letters are small, I will stay with Citizens, I am not taking the chance of the company not having the funds during a bad year. How much money can these small companies have, if we have another 2005, could they pay out money like the big Insurance companies? I don't think they could, maybe I am wrong. My parents had to file with Citizens one year and had a great experience.
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Old 03-11-2009, 02:27 PM
 
Location: West Palm Beach - Flamingo Park
14,697 posts, read 16,214,777 times
Reputation: 6290
Quote:
Originally Posted by doggiebus View Post
I have gotten two of these notices so far in the last year. When I did research on the first letter that came, the two companies that i could of gone with were both highly rated companies (which is great), and my premium would have dropped too, but they were both small companies. The reason we are with Citizens now is because two or three years ago (I can't remember now) the company we were with (a small company) closed in the state of Florida. Citizens was the only option a the time. As long as the companies that are sent to me in these letters are small, I will stay with Citizens, I am not taking the chance of the company not having the funds during a bad year. How much money can these small companies have, if we have another 2005, could they pay out money like the big Insurance companies? I don't think they could, maybe I am wrong. My parents had to file with Citizens one year and had a great experience.
There is no reason to worry if you go with a small company. If that small company ends up not having enough money after a major catastrophe, and not enough re-insurance, then the Florida Insurance Guaranty Association will handle your claim.

FIGA (for short) is a quasi governmental, not for profit corporation organized under Florida Statute. Every state has one for insurance companies that go belly-up.

Just make sure the company is well rated, is licensed, and you're good to go. Even big companies have a finite amount of money in their "insurance pool." It's why huge national companies making money hand over fist and posting record profits "as a whole" can claim that their Florida pool is exhausted and they need to raise rates to remain solvent.
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Old 03-11-2009, 02:38 PM
 
3,714 posts, read 10,732,344 times
Reputation: 2064
Have any of you checked out Royal Palm, I got them by luck when Travelers said goody-bye to me 2 years ago, and nobody was writing in the zip code either. Citizen I was going to pay 3500 to 5000
there bill was 1200! Royal palm you need to have an Allstate agent check the zip code for you, even
if your car insurance is with another company. Even when travelers that year was forced to renew me they wanted about 1300 more. I said no, because they would have canceled me the next year. I might have kept them, but it was too risky, when they were getting rid of us.
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Old 03-24-2009, 07:08 AM
 
2 posts, read 8,465 times
Reputation: 12
Dee, you make a good point. All insurance companies are in business to MAKE money, not pay it out. Being a public adjuster, I deal with most insurance companies on a daily basis. Tower Hill is one of the most conniving at not paying claims using devious methods (loopholes) to pay minimally pay a fair claim. Your best bet for insurance if you are the right age is Hartford, aka AARP. Citizens is another good insurance company if you just want to pay premiums. Don't expect much in fair settlements. Here is an example. Settlement thru appraisal with umpire: over 1.4 million settlement by umpire- Outcome, stopped by Citizens falsely claiming umpire fraud. No basis, just holding up settlement for condo owners roof replacements. They haven't paid a dime! Homewise, Peoples Choice, both good ins. companies.
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Old 06-30-2009, 05:03 PM
 
1 posts, read 3,369 times
Reputation: 10
Default Need new insurance but have Dobermans

State Farm is leaving Florida so I am searching for a new homeowner's policy. Unfortunately, I am finding out that owning a Doberman Pinscher is a problem. I had an agent recommend Homewise. Do you know of any better companies that will insure my home with the dog? Why don't large companies just carve out the "aggressive dogs" from the liabilty coverage?

Can you recommend a good way to research these companies. It seems that there are not any AM BEst rated companies that will insure the dogs.
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Old 06-30-2009, 06:36 PM
 
Location: Palm Coast
209 posts, read 457,927 times
Reputation: 107
Default Security First

Quote:
Originally Posted by Dobiemom View Post
State Farm is leaving Florida so I am searching for a new homeowner's policy. Unfortunately, I am finding out that owning a Doberman Pinscher is a problem. I had an agent recommend Homewise. Do you know of any better companies that will insure my home with the dog? Why don't large companies just carve out the "aggressive dogs" from the liabilty coverage?

Can you recommend a good way to research these companies. It seems that there are not any AM BEst rated companies that will insure the dogs.
Try securityfirstflorida.com and see if they will help you. Seems they are able to help State Farm folks that are being non renewed.

I know the most important item when shopping for an insurance company, make sure they have plenty of re-insurance. I wouldn't trust the govt to be there to help me out should a company go belly up from too many claims in a catastrophe. Govt has it's own problems now. Good luck!
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Old 04-23-2010, 03:44 PM
 
1 posts, read 2,652 times
Reputation: 10
Exclamation Just dropped by HomeWise Insurance - where do we go for windstorm coverage now?

I wanted to pick up this thread again to ask for help. HomeWise Insurance, who took over our Citizen's windstorm policy, stated that they will not renew our policy because "the company is no longer offering policies provinding only wind coverage."

Anyone have any advice or options? Has anyone dealt with anything like this yet?

We here in Sarasota are being treated to quite a bit of scary information about the alternatives in this case. The Sarasota Herald Tribune is running some detailed articles on the utter mess that was created when Citizens Policies were sold off to inexperienced and underfunded insurance companies (an excellent and very informative set of articles based on a year's research). Many of these companies currently writing windstorm policies are not even viable and would be unable to cover even a portion of their policyholder's claims in the event of a hurricane. I thought we dodged that bullet by choosing a viable company.

Now what?
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Old 04-23-2010, 09:09 PM
 
Location: Miami
6,457 posts, read 12,974,234 times
Reputation: 2488
^^^Sorry to hear this, this is why I have stayed with Citizens and declined the companies that have tried to take over my policy. I would try to go back to Citizens when your policy ends. You can read my story above.
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Old 10-08-2010, 06:44 PM
 
1 posts, read 2,031 times
Reputation: 15
i received a letter from homewise perfered about 2 years ago telling me they were going to take over my policy from citizens, which I would have to write and tell them that I wanted to stay with citizens or my policy would automaticaly be with them.At the time , I thought anyone would be better than citizens.They did drop my rate from 3000 down to 2500.While on vacation this year, I went to pay my mortgage and found they had really laid one on me.My mortgage payment went from 1067.00 up to 1348.00.At first,I didn't know what happened.Then I find out that I was dropped and picked up by their mother or sister company " Homewise INsurance" They also raised my rates to 4106.00.When I got back home,I went to see my agent and she put me back with citizens for 1832.00 ( quite a savings from homewise). Needless to say, I would never insure with them again. I did have the inspection done on my house that saved me some money. the cost for the insp. was only 90.00. I hope this info helps somebody.
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Old 10-14-2011, 12:34 AM
 
1 posts, read 1,423 times
Reputation: 12
HOMEWISE INS... Is a horrible ins company. Their staff is rude when you call and god forbid you have to make a claim.. They dropped faster that they can process your claim. I have found 30 customer's that were dropped from HomeWise Ins. before they were even notified that they weren't going to cover the claim. Wow, you would think that with they internet sight they are a decent company. Plus, they lost several of their insurance certifications in two of the three states that they write policies in. Shop around, they are worst than Citizens Ins.
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