As I’ve mentioned in the past, we live in Florida. Here in the great sunshine state we have the beautiful beaches, theme parks galore, and great weather year round. However, like many other states, we’ve been hit hard by the foreclosure mess. Our neighborhood is beginning to look like a deserted town. Neighbor after neighbor has moved out and moved on. All the houses that surround our home are either vacant, for sale, or occupied by renters.
Well last week we learned that another “neighbor” was going to be leaving us…and that neighbor is State Farm Insurance. Our home and auto have been insured by them for years now. I guess we were not really surprised to find out that the company was discontinuing its property insurance lines in Florida. After we heard about their decision from the local news channel, they were polite enough to send us a very nice letter.
I don’t fault them really though. They are in business to make money and well you know, business is business. It’s kind of a bummer for us though because at the end of November 2008 we paid for our homeowner’s insurance coverage until November 2009. Now, we are going to have to find another insurance provider for our home which is not going to be easy since so many insurance companies have left the state. We’ll manage though. We’ll also be looking for another insurance provider for our automobile coverage. We had both our home and car insured by State Farm because we received a discount by doing so. State Farm has said they will continue providing automobile insurance coverage but we figure since they’ve moved on, we’ll be moving on too.
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{ 2 comments… read them below or add one }
we have statefarm too. I’m not going to buy new insurance until they send us a cancellation notice. At this point, it may take 2 years for them to dump us. I’m thinking they are going to dump coastal areas first
In Maine there are only a handful of insurance companies left who will write health insurance policies. This is thanks to some state government legislation which would lead most of the companies to leave… they could not turn any profit at all under the laws mandated for the state. Now Maine has the second highest health insurance rates in the country! I hope it works out differently for your property insurance in Florida…
Jerry