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602 Posts
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.........
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.........