Another one bites the dust (insurance)

[StrongWind]

My mother recently received a notice of cancellation by Florida Select. It appears they are currently in receivership

[loro-rojo]

Yep.. they are out of business. THey cancelled my policy and my moms. We live in Broward county..

[Incident_MET]

Vanguard just went into receivership as well...affected a lot of folks including me.

[flightwxman]

When these companies go out of business, they just cancel your insurance just like that and leave you hanging?? No advice or suggestions on where else to go? And you lose all the money you invested as well?

And are they allowed to do that right before the start of the season??

Now Im all worried...

[flashflood]

Last year the insurance company I had went out of business and the State insurance (Citizens) took over my policy. Several other people I know ended up with the State coverage after their insurance companies closed down.

Just a few days ago, I received a letter from the State (Citizens) telling me I need to find an insurance carrier before my policy expires. Well, the problem is all of the other insurance companies the I got quotes from are Much higher than what the State is charging, and for the same coverage.

If anyone got a new policy that is better than Citizens, please let me know what company that is. Otherwise I will re-apply for another policy with Citizens.