Allstate and others finally abandoning Florida?

[jdray]

After having been without any damage the last decade here in NE Florida, I have been dropped by Allstate. (policy good through Feburary)


It looks like they are leaving the state for good. This was about the last area that anyone could still get them.

The rest of you Floridians and Gulf Coasters, have any suggestions on who treats you fairly with a decent price?

[Canelaw99]

We were lucky enough to be able to get in with State Farm because that's who has our car insurance, but I think each office is only writing one new policy a year now.

Other than that, I can't help much with company names. I know that it's really tough to find companies down here in SE FL, but I don't know if that's an area or a state thing.

[gtalum]

I feel that I do pretty well with SafeCo.

[DoctorHurricane2003]

This is where the state should step in and either change the insurance companies' practices forcefully or have the state offer insurance of their own.

JMO

[gtalum]

You can't force a company to offer insurance in the state.

[DoctorHurricane2003]

Didn't say that gtalum, for the ones who are in the state, they need to change them.

[gtalum]

Didn't say that gtalum, for the ones who are in the state, they need to change them.

My point is that if the state makes it unprofitable to offer insurance, every company will just pull out. Trust me, you really don't want to be stuck with state insurance. My parents have to do that because they live on a barrier island. it's outrageously expensive and the policy is capped well below the actual replacement value of the house.

[FlSteel]

Hey JDRay, do you have more info on allstate and cancling policies? I live in Jax and have had all state for over 6 years now. I have heard nothing from them about cancling my home owners insurance. Any more info you have will be welcome. I'm afraid to call for fear they might cancel mine *LOL*

[DoctorHurricane2003]

^the state needs to reform their insurance then. If the have every insurance company pull out, and state insurance becomes outrageous, you will begin to see a mass exodus out of the state of Florida.

[sunny]

My sister's Allstate agent told her that "a lot of policies will be cancelled". You won't know it until you receive the cancellation letter.

[gtalum]

^the state needs to reform their insurance then. If the have every insurance company pull out, and state insurance becomes outrageous, you will begin to see a mass exodus out of the state of Florida.

I'd rather the private insurers just stay in the state. It's better for everyone.

You're right, though, that there will be a mass exodus from the state if the state has to completely take over hurricane insurance.

[DoctorHurricane2003]

Unless they reform it to where its more affordable. But even then that might require the introduction of income taxes.

[gtalum]

But even then that might require the introduction of income taxes.

The introduction of income taxes will spur an exodus from the state just as unaffordable insurance would. This kind of discussion makes me really glad that Florida's government is Republican-dominated right now.

[alicia-w]

We have USAA and are very happy with them.

[DoctorHurricane2003]

gtalum it doesn't matter if it was Republican or Democrat, there would still be a mass exodus

If all insurance companies pull out, Republicans don't want to start any state-sponsored programs, so, insurance will be hard to come by

Democrats would attempt to start an affordable one but it would most likely require income taxes

Either way, the population goes out of Florida

But let's not turn this into a political debate

[gtalum]

gtalum it doesn't matter if it was Republican or Democrat, there would still be a mass exodus

Not if the state butts out and lets the insurance companies do what they need to do. If the government drives the insurance companies out of the state with overbearing regulations, Then there will most assuredly be a mass exodus.

But let's not turn this into a political debate

Agreed. I realized as soon as I posted that I probably should have left that last sentence off!

[dhweather]

But even then that might require the introduction of income taxes.

The introduction of income taxes will spur an exodus from the state just as unaffordable insurance would. This kind of discussion makes me really glad that Florida's government is Republican-dominated right now.

Louisiana is heavily democratic, and Allstate is bailing out of there too.

It has nothing to do with party affiliation, everything to do with losses
outweighing gains.

[jdray]

Hey JDRay, do you have more info on allstate and cancling policies? I live in Jax and have had all state for over 6 years now. I have heard nothing from them about cancling my home owners insurance. Any more info you have will be welcome. I'm afraid to call for fear they might cancel mine *LOL*

From what the agent told my wife after she called him, they are sending out the letters 90 days before your policy ends. (ours was 120 days, go figure)

He said that Allstate is leaving Florida for at least 3 years to recoup losses and should return.

Also heard from my bosses wife that Nationwide is not doing anymore policies here either and are slowing ending the ones they have now.

[Windy]

After having been without any damage the last decade here in NE Florida, I have been dropped by Allstate. (policy good through Feburary)


It looks like they are leaving the state for good. This was about the last area that anyone could still get them.

The rest of you Floridians and Gulf Coasters, have any suggestions on who treats you fairly with a decent price?

There was an AP article recently about this. Allstate is now going to minimize their exposure in all of the Gulf states, not just Florida. Apparently, they're as weary of hurricanes as the residents.

When the insurers begin to refuse to insure, that should tell you something about the relative saftey of where you live.

[HurryKane]

We have USAA and are very happy with them.

From what I have heard, USAA will no longer write policies for Hancock, Harrison, and Jackson counties in MS.