I can give you insurance on your condo in South Florida that INCLUDES windstorm coverage. I have helped many customers who have contacted me from this blog. You can call me or email me at your convenience and I will also help you.
Wasn\’t our elected officals in the process of signing a bill or passed a bill to prevent insurance companies like AllState from dropping us> I too got a letter from AllState this week-end about being dropped……..
Last thursday, 2/08 we saw in the Orlando Sentinel, on page B5, a story saying that no HO policies may be non renewed as of 1/01/07. So any policies that renew from 1/01/07 MUST be renewed by the carrier.
Now we have to decide between our old Allstate HO policy at about $2,000 anually or the new one for about twice the money with seperate wind,storm coverage.
At least we will have a choice.
I am surprised that there has been no chatter here about this new help from our Insurance Commissioner [sp?]. Our FL insurance hot line phone is
1-800-342-2762.
Good luck !
Bill in Ormond Beach
Thanks for sending the 800 number (800-342-2762) to contact the Florida State Insurance Dept.
I just called them and found out that by law Allstate has to renew HO policies dated after Jan 31, 2007. If Allstate tells you otherwise, you should call that 800 number again and report them.
As much as I don\’t want to give Allstate my money, I really don\’t want to pay twice the amount with another carrier.
Happy to be back with Allstate or any other insurer that just tried to cancel or non-renew you?? It will probably still happen.
Yes, Allstate and other insurers must reinstate policies that were cancelled or non-renewed after January 31, 2007. However, the fix is likely temporary. Insurers must abide by the ruling until they make a filing with the Office of Insurance Regulation to adjust their rates per the emergency rulings guidelines. After the filing, they must then give the policyholder 100 days notice of cancellation or non-renewal. You can bet that insurers will be scrambling to submit their rate filings so they can resume their cancellation and non-renewal plans or implement fat rate hikes. If the cancellation or non-renewal date falls during the hurricane season, insurers are required to give 100 days notice prior to the effective date of the non-renewal or by June 1, whichever is earlier. If that resulting non-renewal date is then effective during the hurricane season, good luck to anyone trying to find private coverage at that time. It\’s more likely that many of us won\’t be able to find coverage until November or December and end up with Citizens as the only option.
Other related items:
Beginning in January, 2008 any insurer writing auto insurance in Florida must also offer homeowners coverage (if they also write homeowners in other states). You think it\’s hard to find affordable home insurance?? Watch the car insurance companies run away now.
Insurers must allow property owners to exclude wind coverage from their policy. The policyholder must acknowledge the wind exclusion in writing and must also get written approval from the mortgage lender. Those who don\’t have a mortgage can opt to exclude wind coverage; those that do have a mortgage will probably be required by their lender to maintain wind coverage on their policy.
Insurers must allow policyholders to exclude contents coverage from their policies. This is good and is already available with flood insurance policies. The policyholder must acknowledge the exclusion in writing.
We\’ll have to wait and see how this all plays out. In my opinion, those insurers that planned to cancel or non-renew will still get their way…it will only be delayed. And possibly until a time when it\’s even more difficult to find coverage…right smack in the middle of hurricane season.
If anybody wants a copy of the entire summary, send me an email at jim@aramarco.com and I will email you a copy of the 17-page document for your reference.
My husband received a quote from Royal Palm yesterday apples for apples it would cost us $2,000 more than all state last year, which went up $1,500 from the year before. I may not be college educated but I am not a fool my insurance agent told him this would be the best price we receive from any of the insurance companies around our area. Well this may be true because I cannot even get the other insurance companies to give us a quote I have tried at least 12 different ones in my area!Has any one else experienced this?
Yes, I experienced the same thing. My Royal Pain quote was thousands higher than Allstate and even $1500 higher than Citizen\’s. But you are right, we had no options until now. As I understand it, we do now have the option of going with Citizen\’s so you may check their rates and policies. I plan to. No one else is writing in coastal FL for older homes though that I know of.
Not good news here !
On page 2C of the 2/20 Daytona NJ there is a story that sez – \”But on Monday, the Office of Insurance Regulation issued another rule clarifying that companies could proceed with plans not to renew policies for customers who had already been notified they were being dropped. Companies will also be able to resume cnaceling policies when they file their new rates in March, as long as they give policy holders 100 days notice\”.
The insurance industry\’s comment from Sam Miller was, \”It is something that the Companies can live with. The clarafication in this order addresses all of our concerns\”.
I guess that it does as our Insurance Commisioner has taken away our recently reinstated home owners insurance.
He must be in bed with the Insurance Companies !!
Bill in Ormond Beach
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Marcia,
I can give you insurance on your condo in South Florida that INCLUDES windstorm coverage. I have helped many customers who have contacted me from this blog. You can call me or email me at your convenience and I will also help you.
Jim
239-394-0888
Can someone please informed me wasn\’t a billed signed , I believed passed by our elected officals to prevent insurance companies from dropping you ?
Wasn\’t our elected officals in the process of signing a bill or passed a bill to prevent insurance companies like AllState from dropping us> I too got a letter from AllState this week-end about being dropped……..
Last thursday, 2/08 we saw in the Orlando Sentinel, on page B5, a story saying that no HO policies may be non renewed as of 1/01/07. So any policies that renew from 1/01/07 MUST be renewed by the carrier.
Now we have to decide between our old Allstate HO policy at about $2,000 anually or the new one for about twice the money with seperate wind,storm coverage.
At least we will have a choice.
I am surprised that there has been no chatter here about this new help from our Insurance Commissioner [sp?]. Our FL insurance hot line phone is
1-800-342-2762.
Good luck !
Bill in Ormond Beach
Hi Bill,
Thanks for sending the 800 number (800-342-2762) to contact the Florida State Insurance Dept.
I just called them and found out that by law Allstate has to renew HO policies dated after Jan 31, 2007. If Allstate tells you otherwise, you should call that 800 number again and report them.
As much as I don\’t want to give Allstate my money, I really don\’t want to pay twice the amount with another carrier.
Marcia
Just called the 1-800 # posted, and was told Allstate must re-instate my policy. My renewal date is in April.
Happy to be back with Allstate or any other insurer that just tried to cancel or non-renew you?? It will probably still happen.
Yes, Allstate and other insurers must reinstate policies that were cancelled or non-renewed after January 31, 2007. However, the fix is likely temporary. Insurers must abide by the ruling until they make a filing with the Office of Insurance Regulation to adjust their rates per the emergency rulings guidelines. After the filing, they must then give the policyholder 100 days notice of cancellation or non-renewal. You can bet that insurers will be scrambling to submit their rate filings so they can resume their cancellation and non-renewal plans or implement fat rate hikes. If the cancellation or non-renewal date falls during the hurricane season, insurers are required to give 100 days notice prior to the effective date of the non-renewal or by June 1, whichever is earlier. If that resulting non-renewal date is then effective during the hurricane season, good luck to anyone trying to find private coverage at that time. It\’s more likely that many of us won\’t be able to find coverage until November or December and end up with Citizens as the only option.
Other related items:
Beginning in January, 2008 any insurer writing auto insurance in Florida must also offer homeowners coverage (if they also write homeowners in other states). You think it\’s hard to find affordable home insurance?? Watch the car insurance companies run away now.
Insurers must allow property owners to exclude wind coverage from their policy. The policyholder must acknowledge the wind exclusion in writing and must also get written approval from the mortgage lender. Those who don\’t have a mortgage can opt to exclude wind coverage; those that do have a mortgage will probably be required by their lender to maintain wind coverage on their policy.
Insurers must allow policyholders to exclude contents coverage from their policies. This is good and is already available with flood insurance policies. The policyholder must acknowledge the exclusion in writing.
We\’ll have to wait and see how this all plays out. In my opinion, those insurers that planned to cancel or non-renew will still get their way…it will only be delayed. And possibly until a time when it\’s even more difficult to find coverage…right smack in the middle of hurricane season.
If anybody wants a copy of the entire summary, send me an email at jim@aramarco.com and I will email you a copy of the 17-page document for your reference.
My husband received a quote from Royal Palm yesterday apples for apples it would cost us $2,000 more than all state last year, which went up $1,500 from the year before. I may not be college educated but I am not a fool my insurance agent told him this would be the best price we receive from any of the insurance companies around our area. Well this may be true because I cannot even get the other insurance companies to give us a quote I have tried at least 12 different ones in my area!Has any one else experienced this?
Yes, I experienced the same thing. My Royal Pain quote was thousands higher than Allstate and even $1500 higher than Citizen\’s. But you are right, we had no options until now. As I understand it, we do now have the option of going with Citizen\’s so you may check their rates and policies. I plan to. No one else is writing in coastal FL for older homes though that I know of.
Not good news here !
On page 2C of the 2/20 Daytona NJ there is a story that sez – \”But on Monday, the Office of Insurance Regulation issued another rule clarifying that companies could proceed with plans not to renew policies for customers who had already been notified they were being dropped. Companies will also be able to resume cnaceling policies when they file their new rates in March, as long as they give policy holders 100 days notice\”.
The insurance industry\’s comment from Sam Miller was, \”It is something that the Companies can live with. The clarafication in this order addresses all of our concerns\”.
I guess that it does as our Insurance Commisioner has taken away our recently reinstated home owners insurance.
He must be in bed with the Insurance Companies !!
Bill in Ormond Beach