Listen guys. Although many of the agents are jerking you all around becasue this is a crappy situation and some of them just don\’t want to deal with it, it does not mean the company doesn\’t want your business. Insuarnce is based on statistics. It is what drives rates up and down. Fact is, for YEARS, you all were paying rates that were too darn cheap. We heard no complaining then, now did we? For this I say shame on the insurance companies for not having the balls to charge what they should have. They ALL KNEW what would happen if we got hit with a season like \’04, and should have accounted for it. You are correct in saying Royal Palm is more expensive than Citizens. The reason for this is that they pay a re-insurer to back up every policy. In the short run, this is expensive. In the long run it will mean lower premiums, once it is done by all companies. There are companies out there with lower premiums, absorbing a huge amount of the market, who are not re-insured, and I hope they stop when they hit their maximum capacity. Otherwise, you guys who signed on with them may have some issues getting claims paid when another catastrophy hits. Allstate should have shut down thier homeowners market 300,000 policies ago. They didnt because they didn\’t want to say no to their customers, you know, all you guys who are threatening to take your auto policies elsewhere. Why, because they cared about their customers. In any case, I could go on and on, but the only other thing I want to say is this. To those of you who feel betrayed, that you were picked out or should have special consideration because of longevity…everyone can come up wwith a reason they should not have been non-renewed. I have 3. I have been with Allstate 30 years as a policy holder, 20 as an employee and my parents are on a fixed income and cant afford these ridiculous rates. Still, I was non-renewed, they were non-renewed,, and the Allstate SouthEast regional director was non-renewed. No sacred cows. Total random process. My agency is doing everything we can to help our customers find a cheaper policy that is worth its weight. Even if it is outside our office. If you think Allstate doesn\’t care, fine (they do), but at least some of the agents out there do. I know because I am one who does
This just out htis week. If you fell between Jan 30 and Feb 24th, your formelry non-renewed policy will get one more year. After Feb 24 is another matter. Only change is Allstate has to wait until new rates are filed (March 15th) then must notify any non-renewal with 100 days notice. All this means is that if you were scheduled to non-renew April 1, we would send out your non-renewal notice March 16th, but your current policy will be extended out 100 days beyond 3/16, as opposed to two weeks later.
IF YOU\’RE AN AGENT THEN YOU MUST BE CRYING ABOUT THE BIG COMMISSION YOU GET EACH TIME YOU SIGN UP ONE OF US POOR SUCKERS WHO HAVE BEEN RAPED BY ALLSTATE AND BUDDIES. NONE OF YOU PEOPLE EVER BRING UP THE BILLIONS OF DOLLARS THESE COMPANIES MADE IN PROFITS LAST YEAR AND EVEN IN 2005. YOUR TEARS ABOUT LOSING YOUR OWN INSURANCE CUTS ME TO THE QUICK. EVERY AGENT I HAVE TALKED TOO GIVES ME THE SAME STORY, \”MY PARENTS LOST THEIR INSURANCE===I LOST MY INSURANCE ETC. ETC.
HOW DUMB DO YOU THINK WE ARE. AND BY THE WAY I HAD ALLSTATE FOR 30 YEARS AND NEVER HAD A CLAIM.
I went yesterday to my Agent.I said \”If you don\’t take my home then I will take my car insurance off too.I have a low income and I go every month to make payments.18yrs with Allstate.I just wanted to know how long has Royal Palm been in business?Funny when I said,\”State Farm has contacted me\”.The Agent says…\”OH REALLY\”.My renewal is in May.Do I wait?Iam so confused.Help!
I am an independent agent and have helped many of you from this blog who have contacted me to find new coverage. In reading these posts, I feel the need to comment:
The decisions made by corporate Allstate were not the decisions of field agents or employees. Allstate agents have worked years to build a book of business only to watch their corporate leaders now tear it apart. However, that doesn\’t mean that the Allstate agent is justified in claiming that Allstate under-charged customers for years and that those loyal customers never said a word back then. That argument is ridiculous. What is an Allstate customer (or any customer) supposed to do…send in more premium because they\’re worried their insurer won\’t be around in the future? Come on. Allstate made the financial mistakes, not the customer. This situation was created by Major Insurance, Inc. (not just Allstate) failing to prepare for disaster while continuing to line the pockets of corporate leaders and reaping record profits. The party is now over and both the consumer AND the agent are paying the price.
This is not the Allstate agent\’s fault. However, any Allstate agent who attempts to retain his/her business by pushing Royal Palm is acting in a self-serving interest as this is likely not the best option. Therein lies the conflict…how does the captive Allstate agent service his/her customer while continuing to feed his/her family? There is no easy answer.
It\’s back to the basics of supply and demand now…the consumer needs to find a product at an affordable price that meets his/her needs. They are out there. As I stated, I have helped many and will continue to help more. If your home is eligible for mitigation discounts, get them. If your home is eligible for security discounts, get them. I have seen these combined discounts reduce premiums by over 40%…that\’s right…40%.
This is not an easy situation but it does not have to be overwhelming, either. There are options. Find them or contact me and I will help find them for you. That offer is extended to any Allstate agent, too.
Our daughter who lives one block from the Atlantic just received her new policy, including hurricane coverage, for her home that is worth about $250, from Southern Fidelity Insurance CO written thru Russo Tig Services located in Altamonte Springs. Phone 407 265 1100. She will be paying $1669 for HO with $1,000 deductible including hurricane with a 2% dedictible. Sounds like a super deal to me.
I have already posted where we wound up with HO insurance.
Good luck !
Bill in Ormond By The Sea
Southern Fidelity has taken over the polices from Florida Select, an insurer which was placed into receivership last summer. I assure you with 100% certainty that there are cheaper options. Keep looking.
Thank you for your recent correspondence to the Florida Department of Financial Services. We appreciate the opportunity to serve you.
On January 25, 2007, Governor Crist signed House Bill CS/HB 1A that will provide comprehensive insurance reform, including broad-based, meaningful reductions in property insurance rates and enhanced competition within Florida’s insurance market.
As a result of the above bill becoming law, the Financial Services Commission and the Office of Insurance Regulation (OIR) issued Emergency Rule 69OER07-1, which became effective January 31, 2007. This Emergency Rule dictates cancellations and non-renewals which were to take affect on or after the effective date of the Emergency Rule, that were issued prior to January 31, 2007 are prohibited. Likewise, any cancellation notice or non-renewal issued on or after the January 31, 2007 is also prohibited until insurance companies can file new rates that reflect the presumed factor outlined in the Special Session House Bill CS/HB 1A, thus stabilizing the market until the provisions of CS/HB 1A can be implemented fully by the OIR. Once the insurance carrier make their new rate filing based on the presumed factor, the company must give 100 days prior to non-renewal.
The insurance company receives credit for each day given in the prior cancellation/non-renewal notice between the date of the original notice and the date the emergency rule was implemented. The clock stops ticking until the insurance company makes the presumed factor filing. Coverage is then extended until the balance of the 100 days is satisfied. The insured is responsible for paying premiums at the prior contract rate for any coverage extended beyond their renewal date.
For additional information regarding the bill, you may wish to visit the Florida House website at http://www.myfloridahouse.gov/. When you are on the House homepage, click “Property Insurance and Conference Committee Documents from Special Session 2007A.” from the right-hand side of the page.
You may wish to contact your insurance agent and/or insurance company for further information regarding the above emergency order.
While the accomplishments of this Special Legislative Session have been significant and far-reaching, this is a first step, not a final step. Chief Financial Officer Alex Sink and Insurance Commissioner Kevin McCarty will continue to assist Governor Charlie Crist, the Florida Cabinet and the Legislature in their efforts to further address the unique challenges of our state’s property insurance markets and bring further rate relief to Floridians in a fiscally responsible manner.
If you have additional questions or concerns, you may call our Consumer Helpline at 1-800-342-2762 within Florida or (850) 413-3132 from outside Florida. An insurance specialist will be happy to assist you. We would also like to invite you to visit our website at http://www.fldfs.com for additional insurance, banking, and financial information.
Sincerely,
Meghan Flood
Insurance Specialist III
Florida Department of Financial Services
200 E. Gaines St.
Tallahassee, FL 32399-0322
850-413-5884
Does this make sense to you ??
Bill in Ormond By The Sea FL
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Listen guys. Although many of the agents are jerking you all around becasue this is a crappy situation and some of them just don\’t want to deal with it, it does not mean the company doesn\’t want your business. Insuarnce is based on statistics. It is what drives rates up and down. Fact is, for YEARS, you all were paying rates that were too darn cheap. We heard no complaining then, now did we? For this I say shame on the insurance companies for not having the balls to charge what they should have. They ALL KNEW what would happen if we got hit with a season like \’04, and should have accounted for it. You are correct in saying Royal Palm is more expensive than Citizens. The reason for this is that they pay a re-insurer to back up every policy. In the short run, this is expensive. In the long run it will mean lower premiums, once it is done by all companies. There are companies out there with lower premiums, absorbing a huge amount of the market, who are not re-insured, and I hope they stop when they hit their maximum capacity. Otherwise, you guys who signed on with them may have some issues getting claims paid when another catastrophy hits. Allstate should have shut down thier homeowners market 300,000 policies ago. They didnt because they didn\’t want to say no to their customers, you know, all you guys who are threatening to take your auto policies elsewhere. Why, because they cared about their customers. In any case, I could go on and on, but the only other thing I want to say is this. To those of you who feel betrayed, that you were picked out or should have special consideration because of longevity…everyone can come up wwith a reason they should not have been non-renewed. I have 3. I have been with Allstate 30 years as a policy holder, 20 as an employee and my parents are on a fixed income and cant afford these ridiculous rates. Still, I was non-renewed, they were non-renewed,, and the Allstate SouthEast regional director was non-renewed. No sacred cows. Total random process. My agency is doing everything we can to help our customers find a cheaper policy that is worth its weight. Even if it is outside our office. If you think Allstate doesn\’t care, fine (they do), but at least some of the agents out there do. I know because I am one who does
This just out htis week. If you fell between Jan 30 and Feb 24th, your formelry non-renewed policy will get one more year. After Feb 24 is another matter. Only change is Allstate has to wait until new rates are filed (March 15th) then must notify any non-renewal with 100 days notice. All this means is that if you were scheduled to non-renew April 1, we would send out your non-renewal notice March 16th, but your current policy will be extended out 100 days beyond 3/16, as opposed to two weeks later.
IF YOU\’RE AN AGENT THEN YOU MUST BE CRYING ABOUT THE BIG COMMISSION YOU GET EACH TIME YOU SIGN UP ONE OF US POOR SUCKERS WHO HAVE BEEN RAPED BY ALLSTATE AND BUDDIES. NONE OF YOU PEOPLE EVER BRING UP THE BILLIONS OF DOLLARS THESE COMPANIES MADE IN PROFITS LAST YEAR AND EVEN IN 2005. YOUR TEARS ABOUT LOSING YOUR OWN INSURANCE CUTS ME TO THE QUICK. EVERY AGENT I HAVE TALKED TOO GIVES ME THE SAME STORY, \”MY PARENTS LOST THEIR INSURANCE===I LOST MY INSURANCE ETC. ETC.
HOW DUMB DO YOU THINK WE ARE. AND BY THE WAY I HAD ALLSTATE FOR 30 YEARS AND NEVER HAD A CLAIM.
I went yesterday to my Agent.I said \”If you don\’t take my home then I will take my car insurance off too.I have a low income and I go every month to make payments.18yrs with Allstate.I just wanted to know how long has Royal Palm been in business?Funny when I said,\”State Farm has contacted me\”.The Agent says…\”OH REALLY\”.My renewal is in May.Do I wait?Iam so confused.Help!
I am an independent agent and have helped many of you from this blog who have contacted me to find new coverage. In reading these posts, I feel the need to comment:
The decisions made by corporate Allstate were not the decisions of field agents or employees. Allstate agents have worked years to build a book of business only to watch their corporate leaders now tear it apart. However, that doesn\’t mean that the Allstate agent is justified in claiming that Allstate under-charged customers for years and that those loyal customers never said a word back then. That argument is ridiculous. What is an Allstate customer (or any customer) supposed to do…send in more premium because they\’re worried their insurer won\’t be around in the future? Come on. Allstate made the financial mistakes, not the customer. This situation was created by Major Insurance, Inc. (not just Allstate) failing to prepare for disaster while continuing to line the pockets of corporate leaders and reaping record profits. The party is now over and both the consumer AND the agent are paying the price.
This is not the Allstate agent\’s fault. However, any Allstate agent who attempts to retain his/her business by pushing Royal Palm is acting in a self-serving interest as this is likely not the best option. Therein lies the conflict…how does the captive Allstate agent service his/her customer while continuing to feed his/her family? There is no easy answer.
It\’s back to the basics of supply and demand now…the consumer needs to find a product at an affordable price that meets his/her needs. They are out there. As I stated, I have helped many and will continue to help more. If your home is eligible for mitigation discounts, get them. If your home is eligible for security discounts, get them. I have seen these combined discounts reduce premiums by over 40%…that\’s right…40%.
This is not an easy situation but it does not have to be overwhelming, either. There are options. Find them or contact me and I will help find them for you. That offer is extended to any Allstate agent, too.
Our daughter who lives one block from the Atlantic just received her new policy, including hurricane coverage, for her home that is worth about $250, from Southern Fidelity Insurance CO written thru Russo Tig Services located in Altamonte Springs. Phone 407 265 1100. She will be paying $1669 for HO with $1,000 deductible including hurricane with a 2% dedictible. Sounds like a super deal to me.
I have already posted where we wound up with HO insurance.
Good luck !
Bill in Ormond By The Sea
Southern Fidelity has taken over the polices from Florida Select, an insurer which was placed into receivership last summer. I assure you with 100% certainty that there are cheaper options. Keep looking.
Jim
Like who in central FL on the east coast ??
Bill in Ormond By The Sea
Jim
As you said, there is cheaper HO insurance to be had.
Please tell me WHO to call ?
We are in central FL on the east coast.
Thanks !
Bill in FL
Re: Homeowner\’s Non-renewal
Dear Mr. French:
Thank you for your recent correspondence to the Florida Department of Financial Services. We appreciate the opportunity to serve you.
On January 25, 2007, Governor Crist signed House Bill CS/HB 1A that will provide comprehensive insurance reform, including broad-based, meaningful reductions in property insurance rates and enhanced competition within Florida’s insurance market.
As a result of the above bill becoming law, the Financial Services Commission and the Office of Insurance Regulation (OIR) issued Emergency Rule 69OER07-1, which became effective January 31, 2007. This Emergency Rule dictates cancellations and non-renewals which were to take affect on or after the effective date of the Emergency Rule, that were issued prior to January 31, 2007 are prohibited. Likewise, any cancellation notice or non-renewal issued on or after the January 31, 2007 is also prohibited until insurance companies can file new rates that reflect the presumed factor outlined in the Special Session House Bill CS/HB 1A, thus stabilizing the market until the provisions of CS/HB 1A can be implemented fully by the OIR. Once the insurance carrier make their new rate filing based on the presumed factor, the company must give 100 days prior to non-renewal.
The insurance company receives credit for each day given in the prior cancellation/non-renewal notice between the date of the original notice and the date the emergency rule was implemented. The clock stops ticking until the insurance company makes the presumed factor filing. Coverage is then extended until the balance of the 100 days is satisfied. The insured is responsible for paying premiums at the prior contract rate for any coverage extended beyond their renewal date.
For additional information regarding the bill, you may wish to visit the Florida House website at http://www.myfloridahouse.gov/. When you are on the House homepage, click “Property Insurance and Conference Committee Documents from Special Session 2007A.” from the right-hand side of the page.
You may wish to contact your insurance agent and/or insurance company for further information regarding the above emergency order.
While the accomplishments of this Special Legislative Session have been significant and far-reaching, this is a first step, not a final step. Chief Financial Officer Alex Sink and Insurance Commissioner Kevin McCarty will continue to assist Governor Charlie Crist, the Florida Cabinet and the Legislature in their efforts to further address the unique challenges of our state’s property insurance markets and bring further rate relief to Floridians in a fiscally responsible manner.
If you have additional questions or concerns, you may call our Consumer Helpline at 1-800-342-2762 within Florida or (850) 413-3132 from outside Florida. An insurance specialist will be happy to assist you. We would also like to invite you to visit our website at http://www.fldfs.com for additional insurance, banking, and financial information.
Sincerely,
Meghan Flood
Insurance Specialist III
Florida Department of Financial Services
200 E. Gaines St.
Tallahassee, FL 32399-0322
850-413-5884
Does this make sense to you ??
Bill in Ormond By The Sea FL