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http://www.statefarm.com/florida/florida.asp?WT.svl=100

State Farm will not be handling homeowner's insurance policies in Florida anymore but will continue to sell auto, life and health insurance in the state. In most cases the homeowner will wind up paying more for possibly less coverage with another company. A similiar thing happened a few years ago when AllState dropped many homeowners policies in Florida and many had to pay much more elsewhere. I've been reading the comments on the news websites left by readers who say that if State Farm drops their homeowner's insurance they will take their auto insurance elsewhere. I have State Farm for homeowner's 3 autos, 2 motorcycles, PWC, boat etc. I'm not jumping to any decisions yet but this does have me pretty pissed off. Most people who say they will drop their auto insurance with State Farm say it is because the auto insurance is very profitable for State Farm and they don't want to give them any business at all after this.:no::wrong::cus::banghead:
 

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It isn't carved in stone yet, but looks like it will happen. I still have Allstate for my home but had to get the State run JUA for my rental house because of its age. The state run insurance is a lot higher with less coverage. Insurance has always been a mess here in Fla and the other gulf states.
 

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Pretty good, seems like if they want to sell insurance in the state of Florida, they should have to sell all insurance, and not be able to pick and choose.

If I were insured with them I'd drop all my polices too!

I was with State Farm years ago and went somewhere else because of their high rates.
 

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Farmers did the same thing in Texas a few years back, but they are back to writing policies here again. Not sure what changed. Maybe the prospect of loosing other coverages brought them back.
By the way I'm a newbie here on this board and been lurking for a few weeks now. Love the site.

Mike
 

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I had all my insurance with Allstate and two years they dropped my homeowners coverage and I had 45 days to find additional coverage. Cost me Double with Palm Coast to insure, I figured if they didnt want my homeowners coverage then I didnt want their auto and MC coverage.
 

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Gars, sadly risk isn't able to pick and choose. Price is the ultimate way for a company to regulate it's risk ($ incoming vs. project $ outgoing). If you're with a company that write policies in a large area, you indeed share in the risk of those areas...your example of not wanting to insure against a hurricane is flawed since ALL risks of ALL perils create the mathematical possibility for the insurance company to make money.

It's like Vegas, you don't get to play blackjack and only get face cards. :)

That said...like most things in this economy, I'm weighing EVERY "relationship" I have with companies. Unless there truly is something that distinguishes a company and gets me something valuable (a value proposition) I shop price and adjust my expectations accordingly. State Farm? I'd keep them IF I couldn't either find a better price/company. Otherwise? They're not loyal to me so I'm not loyal to them. "I've been doing business with them for years" is a thought that has become an antique. I watch out for me and mine and the loyalty only matters if it is TRULY mutual.
 

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If State Farm would not insure my home... I DAMM sure would not reward them with my auto business... if insurance companys cannot make 70% +
profit .. they don't want to insure homes.... let them go belly up like
the auto companys...

cosmic
 

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I was dropped by Nationwide after 44 years as a customer. When they dropped my homeowners policy, I switched my car over to Progressive where my bike was insured. Payback!
What did I gain? My homeowners policy (including hurricane coverage) went from Nationwide's $3856 a year to a new policy with a Grade A company (even better coverage) at $1125 a year and the rate did not increase one penny this year. My wife's car went from Nationwide's $1375 a year to Progressive's even better policy coverage at $989 a year. Substantial savings. I blindly thought Nationwide was watching my back all these years. Instead they were robbing me blind.
I hope State Farm, Allstate, and others get the message that today's consumer isn't going to take it anymore. Do yourself a favor and start shopping around.
Too bad for the rest of the country outside of Florida. Their rates will now go up nationwide to make up for the loss of revenue. Even people in Illinois will pay more because of the effects of freezing weather (frozen pipes, iced up tree limbs falling on roofs and cars, etc.) Even California(earthquakes, brush fires, etc.) The risks aren't just in Florida. Each state carries their own risks and floods are everywhere across the country.
 

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Dangerous Old Lady Biker
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I have State Farm for my homeowners, my truck, and a life policy, also had for the Wing, but changed that to Geico...I usually just take an advertisement for STate FArm and use it for target practice...:twisted::twisted::twisted::twisted:
 

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Lexington, South Carolina. My bike insurance is with State Farm and it is just under 500 dollars per year, full coverage.

The little green lizard wants 2100 dollars.
Progressive was a bit more.
Nationwide, would not fart in their parking lot. Have no idea, but have dealt with them before, do not care to ever again.
The above prices are for the bike only, no other vehicles or home insurance.

I think the reason insurance is reasonable is we do get better rates because our home and autos are insured with them.

I suppose all the hurricanes in Florida has gotten a lot of insurance companies scared. I used to have a house in Punta Gorda, just up from Fort Meyers. All that is there now is the footing.

On the coastal areas I think none of the insurance will insure or if they do it will be at a very high cost. Because of the hurricanes.

Somewhere I saw that the government is rebuilding homes lost that were sitting directly on the beach front, sounds about like something they would do.

I suspect many insurance companies will refuse to insure homes in high risk areas. Has something to do with state laws and business practices too, I think the state tells them if you do business in our state and insure homes you have to insure those on the coast , not just inland ones. Not sure exactly but there is a state imposed situation there also.

Kit
 

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you haveto shop around is the only smart thing to do. i always get two to three quotes each time i insure. sometimes i go with the more expensive as they have treated me really well, if they start playing games i move on. It only takes 5 to 10 minutes for a quote to save a few hundred dollars. well worth the time
 

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I insure a truck, a car, and two bikes with State Farm. My first inclination is to drop them, but I think I will wait and think it over some when I can see thing more clearly.
 

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Farmers did the same thing in Texas a few years back, but they are back to writing policies here again. Not sure what changed. Maybe the prospect of loosing other coverages brought them back.
By the way I'm a newbie here on this board and been lurking for a few weeks now. Love the site.

Mike
Welcome aboard,
As per State Farm, I would drop them, They shouldn't discriminate FL.
 

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I had SF for many years until one day I asked if they covered my spouse on my motorcycle.

Their answer was "NO". NO liability for a spouse but you may have it for another person that you are not related too. Makes NO sense to me.

Most SF policies only cover the bike, which was fine for me becasuse I have very good health insurance that will cover what ever happens to me.
Not cover my spouse? That is just wrong!

I dropped them like a hot potato and moved on. I have had progressive but for the money (lower premiums and more coverage) I am now with Geico.

I am happy but my premiums are not low. I pay $1100 a year for 2 bikes. About $900 just for the wing. I am covered for $300,000/$100,000/$300,000.

And that to me is like the minimum coverage in this day and age. Especially sense autos and trucks cost more to fix.

JMHO
 

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I don't live in Florida, but would like to add to this State Farm post. We have Flood, Hazard & Auto through State farm. I gave our agent my Progressive MC insurance policy-billing. She called me back and it was WAY less then she could do. She said keep the MC's with Progressive.

Insurance varies region to region, but that is the case in my area of Southern South Carolina with State Farm.

Oh, and our Hazard has risen by 98% in 2 years. We are 4½ miles away from the Beach.

Herb
 

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i think its a great move by state farm

for the last three years, our rates have gone up, due to florida storms and loses

now maybe i can get a fair shake on a rate, based on my loss potential, and not on someone elses
 

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I get tired of hearing them cry they arent making any money. They need to learn how to adjust like we have all had to do. My insurance went up and so on so why cant I raise my pay.......
I would drop State Farm and never think twice. If they are going to drop one they can drop it all.
I wonder how fast they would change their mind if everyone in Fla cancelled there car ins policies all in 1 day.
 

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I had SF for many years until one day I asked if they covered my spouse on my motorcycle.

Their answer was "NO". NO liability for a spouse but you may have it for another person that you are not related too. Makes NO sense to me.

Most SF policies only cover the bike, which was fine for me becasuse I have very good health insurance that will cover what ever happens to me.
Not cover my spouse? That is just wrong!

I dropped them like a hot potato and moved on. I have had progressive but for the money (lower premiums and more coverage) I am now with Geico.

I am happy but my premiums are not low. I pay $1100 a year for 2 bikes. About $900 just for the wing. I am covered for $300,000/$100,000/$300,000.

And that to me is like the minimum coverage in this day and age. Especially sense autos and trucks cost more to fix.

JMHO
i dont live in fl. but my sf on my 06 my covered is $100,000/$300,00/$100,00 this is full coverage and my cost is $361.00 for 1 year
 

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I agree w/u Loren....... One of the hats I wear is that of a licensed insurance agent & itsa well known, documented fact that premiums reflect risks. Hurricane-prone areas have caused a # of companies to re-think the # of policies they have in those areas.

I live in Missouri, near the New Madrid fault. I pay a addt'l premium on my home & biz for "earthquake" coverage. Probably the only other areas that see that reflected in their premiums would be the left coast. Florida residents wouldn't like picking up part of the tab of my earthquake premiums & I don't care to hafta subsidize State Farm via paying part of the tab on their costs associated w/paying Hurricane damages.

Several have offered the best advice - shop around....... that's about all you can do. For those that drop State Farm, you're lessening their risk-pool, which is the motive behind their methods. State Farm "big wigs" have probably made the decision to "pull the plug" on Florida & get the heck outa town - before they're completely bankrupt. They've run the numbers - they know what they're doin.........
 

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Once upon a time, I sold insurance...I stopped because I found it be an EVIL PRESENCE in our World....along with the entire insurance industry, and especially variable products (mutual fund, stocks, variable insurance) tricks and the worst industry is banking: they only treat their employess worse than the customers...After a ten year career in this Insurance/Banking shell game, I can truly say I would much rather drive a big truck OTR like I did for about the prior 8 years...Before I became disabled, my last actual work, was visiting seniors/retirees, analyzing their portfolio, and recommending taking the biggest chunk OUT of the risky market, and putting some in a FIXED annuity, and some in an FDIC insured CD...half listened, half thought they'd never outlive their money...well, since their portfolio is now worth HALF...I still get call from prospects and clients....the clients thank me profusely, the others cry to me that they didn't listen...but I digress.... State Farm is a mutual company down here in FL...meaning that the policyholders actually "own" the company...this is in contrast to the State Farm up north, which is not a "mutual."

My homeowners more than doubled this past year, so with my homestead and agricultural exemptions, it's around $7500... some finagling, like a much much higher deductible brought it down...now I just have to hope my house stands up to the next Big One...having lived through France, Jeanne, and Wilma, I'm about ready for anything...except trying to find yet another insurance company...:roll::roll:
 
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