Insurers jockey to cover State Farm gap

More than 20 insurance companies are angling to write policies for customers who are losing their State Farm home coverage.

http://www.miamiherald.com
Posted on, Feb. 04, 2009

By BEATRICE E. GARCIA

For nearly two dozen insurers in Florida, State Farm Florida's decision to stop selling homeowners insurance means opportunity.

After the announcement last week, one Boca Raton insurer took out a newspaper ad aimed at State Farm customers. Others solicited them on their websites. One company hopes to recruit State Farm agents.

But the holders of State Farm's 1.2 million policies, covering mostly homes, condos, boats and even businesses, won't be able to rely on their State Farm agents to help them find another insurer -- they are not allowed to write policies for any other company except the state-run Citizens Property Insurance.

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State Farm's Exit Likely To Benefit Smaller Insurers

By RUSSELL RAY, rray@tampatrib.com, Published: January 29, 2009, www.TBO.com

After State Farm revealed plans Tuesday to withdraw from the property insurance market in Florida, its customers wasted no time in searching for new coverage.

The online Home Insurance Buyers Guide, a Web site that helps homeowners find, screen and contact insurance companies, was overwhelmed Tuesday by State Farm policyholders worried about finding replacement coverage, said Michael Letcher, who operates the paid-membership site.

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Florida homeowners hunt for insurance after State Farm bombshell

http://www.miamiherald.com
Posted on Wednesday, Jan. 28, 2009

By BEATRICE E. GARCIA

The shopping has begun.

Some Florida residents aren't waiting for State Farm Florida Insurance to tell them their policies won't be renewed. They've started calling agents and insurers to check if other companies are willing to provide the coverage they're about to lose from State Farm.

The insurer Tuesday announced plans to discontinue writing property insurance in Florida in about two years. That's 1.2 million policies, including 933,000 that cover single-family homes, condo and rental units and mobile homes needing new insurers.

American Integrity Insurance Company Launches New Manufactured Home Insurance Program
American Integrity Insurance Company - Oct 14, 2008
American Integrity Insurance Company of Florida, headquartered in Tampa, launched the sale of its new manufactured home insurance policy ....read full document.

New firms bring lower insurance rates
Jacksonville Business Journal - June 27, 2008 by Rachel Witkowski
Nearly 20 Florida-based property and casualty insurers have started covering homeowners and businesses in Jacksonville, creating the one thing residents may not see elsewhere this year -- lower rates....read full article.

Smaller Insurers, More Options
The Tampa Tribune - February 22, 2008 by Russell Ray
As the big national insurance companies such as State Farm, Allstate and Nationwide continue to pull up stakes in Florida, smaller unheard-of companies have stepped up to fill some of the void...read full article.

Citizens' policy load posts rare decline
St. Petersburg Times - January 25, 2008 by Tom Zucco
For the past several years, Bruce Douglas rarely used the words "Citizens Property Insurance" and "shrinking" in the same sentence. That changed Thursday...read full article.

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