STATE
FARM IS OUT!!!
In another major setback for Florida’s troubled
property insurance market, State Farm Florida announced
it would stop writing new policies effective March 1.
State Farm is the largest private property insurer in
Florida, covering more than a million properties. The
move impacts residential, rental and commercial policies.
The announcement follows a decision last summer not
to renew some 50,000 policies for coastal properties
in order to minimize the company’s hurricane risk.
Meanwhile, there are some new insurers on the scene.
They’re smaller than State Farm but they’re
writing new policies, lowering rates and giving homeowners
an alternative to the state-run Citizens Property Insurance
Corp. Among the newcomers:
-
American Integrity Insurance (1-888-359-5515)
has absorbed thousands of Citizens policies. The
company says it will start selling coverage in the
“traditional voluntary market” in April.
-
Edison Insurance Group (1-800-657-6618)
hopes to add 8,000 policies on all home types within
1,500 feet of tidal water in 2008.
-
Privilege Underwriters Reciprocal
Exchange (PURE) (1-888-813-7873) specializes in
insuring large homes worth at least $1 million that
meet current building codes.
More resources on the Web:
Compare rates for a typical Florida home in all 67
counties http://www.shopandcomparerates.com, http://www.floir.com/CompanySearch/index.asp
Companies/entities writing policies in Florida
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TRAINING
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An on-line Quadrennial REALTOR® Ethics Training
Course has been developed to assist you. REALTORS®
can stop and restart the course at their convenience
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requirements. Click
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