Home Owners Insurance

[Janice]

I just saw on CNN where some insurance companies are refusing to give or renew insurance policies on homes that close to the water.

What do they do then? Hunt around for another one?

One woman on CNN said she had to get state insurance which was $500 more a year, but at least she has insurance now.

[alicia-w]

in many cases, if they can afford to live on the water, they should do so at your own risk. i shouldnt have to pay an increased premium to subsidize their lifestyle.

[LSU2001]

I heard on the radio this morning that State Farm will not write any new policies south of Alexandria in Louisiana. The are publicly stating that it is not because of the hurricanes last year but it is to keep their market share down. If you believe that one I have a slightly used bridge for sale.
Tim

[Janice]

But any place you live is a risk. Should people in SanFrancisco pay their own? How about the areas where all the tornados hit? Any place you live is vulnerable with natural disasters. I think everyone should be eligible for insurance, but I do think the codes should change. Maybe all houses on the gulf and beaches should be made of concrete, etc.

[gtalum]

Speaking of homeowners' insurance... Does anyone here in Florida use St. John's Insurance company? Safeco has dropped my policy, and I'vve got an excellent quote for an agent for St. John's. Problem is, I've never heard of them.

[Janice]

See if you can check them out on the net. If they are not there, beware.

[gtalum]

They have their own website, of course, and they are listed on Florida's website listing accredited insurance companies. However, I haven't found any reviews, positive or negative, on them.

Interestingly, it's an Allstate agent who gave me the quote. He told me that they are carrying St. John's for homeowners insurance since Allstate quit writing policies in Florida.

Some organization called "Demotech" gave them an A rating, but I don't know who Demotech is.

[Lindaloo]

Allstate is sub-writing new business for St. John's. They will be servicing the policy.

[gtalum]

Allstate is sub-writing new business for St. John's. They will be servicing the policy.

Thanks for the info. This makes me more confident in St. John's, for sure.

[Lindaloo]

Demotech is a company that monitors financial stability. If they received an A that means the company is stable. Forgot to tell you that.

They moved headquarters to Orlando.