Notice of Non-Renewal

[Aquawind]

Welp.. I got the letter. Allstate has dumped me..never filed a claim and I have auto with them as well.. They Suck! They will lose both from me. I suggest everyone else dump Allstate Insurance and give the business to another company.

[MomH]

I agree! I think any insurance company that has sold both auto and home insurance in a state should not be allowed cancel just one type. You took our money for years, now either pay up or get out completely.

[Dionne]

Welcome to the club!!! Mississippi Farm Bureau dumped us.....turned us over to a casualty company. We never filed a claim with them. Look into a company named Shelter Insurance. They paid our claim on our Hattiesburg home without any serious hassles and they did not drop us!!!

[jbgreig]

Same here. Allstate dumped us. We had house, cars, and jewelery insured. Never a claim despite the fact that Rita hit us. Just changed to Farm Bureau. I told my wife I would pay more just to get away from them...

But I think we ended up saving more than $1000 on homeowners alone, and 50% on the auto insurance.

[mf_dolphin]

Owners Insurance just dumped us for homeowners after 20 years of having our house and cars covered. I can guarantee you they'll never insure anything I own. Already got the quote of changing the cars over.

[Tropigal]

Allstate dumped us too and we never filed a claim either. I thought it was because we are very close to the GOM, but now I'm hearing people all throughout FL are getting dropped by Allstate.
A friend gave me this website http://www.fmap.org to search for new insurance, but I haven't tried it yet.

[O Town]

Add my parents to the list of folks who got dumped by Allstate, and they live here in Orlando. They had auto insuranse with them as well. This happened before Chirstmas, guess they are making thier rounds.

[StormTracker]

A good friend of mine who is an Allstate agent that runs a branch here in Miami told me last week that they are cancelling hundreds of thousands of policies & the ones that they do keep are getting the premiums jacked up(double- whammy)!!! And to think last year, he kept trying to get me to let him look at my policy to see if he could help me out a little! Even he as an agent is taking a hit because of these corporate decisions that Allstate is making!!! Looks like it's a bad deal to be an Allstate customer or agent these days!!!

[wxman57]

I think we'll see a lot more insurance companies pulling out of hurricane-prone areas like Florida in the coming years. Duting the last active cycle in the Atlantic, Florida was hit by 12 major hurricanes in 25 years. The east coast tends to get hit a lot more in the current pattern as well. Insurance companies are a business like any other, they exist to make money. There will be tremendous losses across Florida northward up the east coast in the coming decades, and across the Gulf coast as well. Since the insurance companies cannot afford to pay out more than they take in, they're pulling out of high-risk areas. Except for significantly increasing your insurance rates, what else can they do to turn a profit?

[GeneratorPower]

I think we'll see a lot more insurance companies pulling out of hurricane-prone areas like Florida in the coming years. Duting the last active cycle in the Atlantic, Florida was hit by 12 major hurricanes in 25 years. The east coast tends to get hit a lot more in the current pattern as well. Insurance companies are a business like any other, they exist to make money. There will be tremendous losses across Florida northward up the east coast in the coming decades, and across the Gulf coast as well. Since the insurance companies cannot afford to pay out more than they take in, they're pulling out of high-risk areas. Except for significantly increasing your insurance rates, what else can they do to turn a profit?

If only the general public understood your very well reasoned post.

[srainhoutx]

I think we'll see a lot more insurance companies pulling out of hurricane-prone areas like Florida in the coming years. Duting the last active cycle in the Atlantic, Florida was hit by 12 major hurricanes in 25 years. The east coast tends to get hit a lot more in the current pattern as well. Insurance companies are a business like any other, they exist to make money. There will be tremendous losses across Florida northward up the east coast in the coming decades, and across the Gulf coast as well. Since the insurance companies cannot afford to pay out more than they take in, they're pulling out of high-risk areas. Except for significantly increasing your insurance rates, what else can they do to turn a profit?

Great Point Wxman! Insurance was one of the driving factors that drove my family out of the FL Keys. 20K annually per property was enough. All property owners along GOM and Atlantic Coast need to be aware of what costs we ALL could pay in the future

[MomH]

State Farm went down some but still made a large profit in 2005.

Hurricanes Drive 39 Percent State Farm® Net Income Decline
Bloomington , Ill. , February 24, 2006 - Hurricane losses and loss adjustment expenses totaling $6.3 billion (after reinsurance) contributed to a reduction in State Farm's 2005 net income. The Company is reporting an after-tax net income from all sources of $3.24 billion, down 39 percent from the $5.31 billion in net income for 2004.
Net worth for the State Farm group increased by $3.9 billion to $50.2 billion. The primary reasons for this improvement were the insurance operating results and the $759 million realized and unrealized gain (net of deferred tax) on property-casualty (P-C) companies' unaffiliated stock portfolios. The P-C companies reported a pretax operating profit of $3.5 billion in 2005, including investment and other income of $4.3 billion and an underwriting loss of $779 million. This compares with a pretax operating profit of $5.5 billion in 2004, which included investment and other income of $3.57 billion and an underwriting gain of $1.96 billion. The State Farm group's net worth also is affected by the results of operations of non-P-C affiliates, which resulted in a gain for the year of $379 million, primarily driven by results for State Farm Life Insurance Company.
Total revenue, which includes premium revenue, earned investment income and realized capital gains (losses), was $59.2 billion for 2005 compared with the 2004 figure of $58.8 billion.

……….
Homeowners, CMP, Other - The net written premium for State Farm Fire and Casualty Company, State Farm Lloyds, State Farm General Insurance Company and State Farm Florida Insurance Company represents 32 percent of the P-C companies' combined net written premium. Earned premiums were $15.0 billion, an increase of 5.7 percent from 2004. The incurred claims and loss expenses were $9.6 billion after the recovery of $4.1 billion from reinsurers (internal and external) under catastrophe reinsurance agreements. The result was an underwriting gain of $1.4 billion.

http://www.statefarm.com/about/media/me ... rricne.asp

[setxweathergal]

I got dumped too! I was told it was because they were not covering framed houses anymore...which mine is frame!! I just got a quote from the company they were offering to switch us to, for $1000 more a year I'm definitely going to look into someone else.

[jes]

I have commercial property insured by Allstate. They cancelled the wind and hail, but not the fire or liability. Luckily I didn't have homeowners with them. I can't insure with anyone else until I rent the building so it looks like this hurricane season will be a risk for me.

[Jinkers]

A friend I work with got dumped from Allstate, had insurance with them 25 years, and the only claim they made was for roof repairs after Wilma, I will never do buisness with them either. Another time they didn't pay another friends claim from an auto acccident, they just have to much negaitive vibes for me.

[canetracker]

Unforturnately, Allstate is still in control of my homeowners and flood. I wish I would have changed a few years ago when I had the opportunity.

August 6, 2007 News Report on 'Delay, Deny and Even Lie' highlights the activities going on by insurance companies and particuarly Allstate:

"Good hands or boxing gloves"
In September 1992, Allstate Corp., the second-largest U.S. home insurer, sought advice on improved efficiency from McKinsey & Co., a New York-based consulting firm that has advised many of the world's biggest corporations, according to records in at least six civil court cases.
State Farm, and Farmers Group Inc., the third-largest home insurer in the U.S., also hired McKinsey as a consultant, court records show.
McKinsey produced about 13,000 pages of documents, including PowerPoint slides, in the 1990s, for Northbrook, Ill.-based Allstate. The consulting firm developed methods for the company to become more profitable by paying out less in claims, according to videotaped evidence presented in Fayette Circuit Court in Lexington, Ky., in a civil case involving a 1997 car accident.
For 57 years, Allstate has advertised its employees as the "Good Hands People," telling customers they will be well cared for in times of need.
The McKinsey slides had a new twist on that slogan. One slide McKinsey prepared for Allstate was entitled "Good Hands or Boxing Gloves."
When a policyholder files a claim, first make a low offer, McKinsey advised Allstate. If a client accepts the low amount, Allstate should treat the person with good hands, McKinsey said. If the customer protests or hires a lawyer, Allstate should fight back.
McKinsey doesn't discuss any of its work for clients, spokesman Mark Garrett says.
Less payout to policyholders
One McKinsey slide displayed at the Kentucky hearing featured an alligator with the caption "Sit and Wait." The slide says Allstate can discourage claimants by delaying settlements and stalling court proceedings.
By postponing payments, insurance companies can hold money longer and make more on their investments — and often wear down clients to the point of dropping a challenge.
McKinsey's advice helped spark a turnaround in Allstate's finances. The company's profit rose 140 percent to $4.99 billion in 2006, up from $2.08 billion in 1996.

http://www.azstarnet.com/sn/dailystar/195060.php
Below is another good link on insurance company tactics. Notice, Allstate is highlighted again!
http://www.examiner.com/p-23658~Consumer_Advocates_Oppose_Allstate_Insurance_Company_s_Efforts_to_Hide_Its_Post_Katrina_Pay_Out_Procedures.html

[Aquawind]

Well I am under contract with Allstate until Oct 21st and I need to wait until 60 days prior to sign a new contract. The policy does roll over to Royal Palm Insurance with my same Allstate rep if I were to choose. Bad time to change as I believe nobody will sign a contract while a storm is in the basin unless it rolls over I suppose..not sure if that has changed recently. This outta be a fun couple months..

[Downdraft]

I don't think the issue for people is whether or not Allstate turns a profit. Of course, as a business they are entitled to make money everyone understands that. The issue is to loyal customers. People that have multiple insurance policies for years with Allstate and have paid their premiums on time and never filed a claim haven't cost Allstate a dime in some cases for decades. For the Company to pull the rug out from under them and say but we will still insure your cars is crazy. I'm glad it's not up to me because I'd boot their butts so far out of Florida they'd be insuring barns in Bismarck. An insurance company should not have to bear all the risk that's why the state allowed for increases in the deductible for hurricane damage. The plain simple truth is the right storm hitting the right place and no insurance company can handle the insurable losses on their own BUT when you play at the roulette wheel and your the house you win more than you pay out over time. The good hands of Allstate are as empty as their promises.

[DanKellFla]

Insurance companies have the advantage of selling us a product before we need it, and then they make the rules as to allowing its use. I am all for capitalism, but not leagalized organized crime. To me, it is simple. You make a claim, they pay. It is their problem if they figured out the costs incorrectly. There was no reason for insurance to be so cheap before Andrew. The risk that Florida has from hurricanes are not a secret. But, for many complicated reasons, insurance companies decided that it was worthwhile to under charge. Of course, the effect was followed by over charging. I would like to be able to run my buisness like that. "Sorry customers, you now owe me tripple what you paid me." But if I tried that, I would go out of buisiness.

[Aquawind]

UPDATE:

So both flood and homeowners runs out soon. Flood is $1,700 due in full this month and I even got a letter from FEMA asking to pay for flood insurance!!

My Allstate rep has also sent me proposals from 2 other companies..just sign and send a check. Funny thing..they also send me a refund check for my last payment because they made an error. Good hands is questionable alright. My current alstate rep would be my rep for these companies as well.

So Citizen's Insurance is considerably lower at around $2,750 however the paperwork does not have the deductable selection marked but shows the standards as $1,000 and 2% for hurricane.

The Royal Palm is $3,600 with a $1,000 deductable on non-hurricane and 2% or $5000 for hurricane deductable.

I plan on speaking with my Allstate rep this week to clarify the offers.