I read the blurb from the Friday Business section on Royal Palm Insurance’s assertions that they would not be much different in cost from other companies. Former Senator Locke Burt must not consider Citizens as an “other company”. I had emailed Peter Nehr with my issues and I did get a call back from the Department of Financial Services. Somehow they are involved in insurance regulation. The lady said that she has had many people crying on the phone with her as they can no longer afford insurance in this state. She did tell me that while it is true that Citizens cannot be lower than the average cost for insurance, the determination of that cost is based on the average for insurance in area by the insurers that are writing policies. So, as I understand it, Allstate drops all their policies. The good former Senator Burt’s company comes in and writes insurance at increases of several hundred percentage points. Since they are the only ones writing their fees become the standard for the area. If I follow this through then Citizens will have to increase for everyone else because Royal Palm has this loophole that allows them to overcharge. My Citizens quote was $2500 for 213K of coverage, 2% deductible for hurricanes and $2500 deductible for other events. The Royal Palm quote was $3700 for $180K of coverage and $3600 deductible. I think the good former Senator Locke Burt needs to look at his pricing if he thinks it compares… but it will in a while once Citizens has to jack their rates because of his company. Stayed tuned as insurance continues to get ugly and we move to Georgia/Tennessee or wherever.
This is further proof that the insurance companies are running a scam. Expecially in Florida. And it is pretty ironic that in Florida we are faced with not only higher premiums due to hurricanes but a huge deductible if you suffer hurricane damage! What are the higher premiums for? And as soon as you have a claim for either auto or home you are dropped like a hot potato. Well as for us, we will find new auto insurance, as well as homeowners, as a result of Allstate\’s actions. I hope that every customer that had both home and auto with Allstate, switches both. Someone said that they blame the regulators for this mess. But I blame the insurance companies. They are ultimately in control of their corporate decisions and doing the \”right thing\”. To continually increase rates, drop long term customers and blame it on the weather is cleary not the \”right thing\”.
Palmer who did you get a quote from? Why don\’t we all go with out insurance? The banks would either have to foreclose on every property in the state or figure some thing out. If they were to fore close on all loans it would absolutley break the banks.
Allstate isn\’t the only one non-renewing policies… Liberty Mutual is too. After 6 years with them, without a claim, I just received my notice from them. Ironically, I had Allstate for 9 years (and 7 years before that in another state) before Liberty Mutual. I had a small lightning claim and was non-renewed the next year by Allstate. I ended up on this blog wondering if Royal Palm would be an insurance company I should check out. Guess not! Anyway, I\’m in the same boat, searching for homeowner\’s insurace.
Okay, has anyone gone to the web to look for their homepage? It\’s gone. They are still listed, when you go to click, the page is no good. Nice huh? This is horrible how insurance can just dump whenever they want. They want our money, but god forbid we ever need their help. This is shameful.
Am I missing something? All this news about the state getting the rates lowered. Does it help anyone who has not been renewed, and has to go to a new carrier? Won\’t we still be charged the highest rates. My neighbors on both sides will likely be paying $2,000 less than me for the same house. Where is the rationality of that?
Scam it is. Been with Allstate for over 40 years (home & car). One small claim for tree damage by lightning. They made plenty of money from me and now their runing. They don\’t want me so I will definitely not want them. I\’ll get home and car insurance from another company who\’s hands will be safer than ALLSTATE.
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Who owns Royal Palm?
it was started by a former Fla State Senator…surprise surprise
I read the blurb from the Friday Business section on Royal Palm Insurance’s assertions that they would not be much different in cost from other companies. Former Senator Locke Burt must not consider Citizens as an “other company”. I had emailed Peter Nehr with my issues and I did get a call back from the Department of Financial Services. Somehow they are involved in insurance regulation. The lady said that she has had many people crying on the phone with her as they can no longer afford insurance in this state. She did tell me that while it is true that Citizens cannot be lower than the average cost for insurance, the determination of that cost is based on the average for insurance in area by the insurers that are writing policies. So, as I understand it, Allstate drops all their policies. The good former Senator Burt’s company comes in and writes insurance at increases of several hundred percentage points. Since they are the only ones writing their fees become the standard for the area. If I follow this through then Citizens will have to increase for everyone else because Royal Palm has this loophole that allows them to overcharge. My Citizens quote was $2500 for 213K of coverage, 2% deductible for hurricanes and $2500 deductible for other events. The Royal Palm quote was $3700 for $180K of coverage and $3600 deductible. I think the good former Senator Locke Burt needs to look at his pricing if he thinks it compares… but it will in a while once Citizens has to jack their rates because of his company. Stayed tuned as insurance continues to get ugly and we move to Georgia/Tennessee or wherever.
This is further proof that the insurance companies are running a scam. Expecially in Florida. And it is pretty ironic that in Florida we are faced with not only higher premiums due to hurricanes but a huge deductible if you suffer hurricane damage! What are the higher premiums for? And as soon as you have a claim for either auto or home you are dropped like a hot potato. Well as for us, we will find new auto insurance, as well as homeowners, as a result of Allstate\’s actions. I hope that every customer that had both home and auto with Allstate, switches both. Someone said that they blame the regulators for this mess. But I blame the insurance companies. They are ultimately in control of their corporate decisions and doing the \”right thing\”. To continually increase rates, drop long term customers and blame it on the weather is cleary not the \”right thing\”.
thank you, jim — you helped me avoid the royal palm takeover.
Palmer who did you get a quote from? Why don\’t we all go with out insurance? The banks would either have to foreclose on every property in the state or figure some thing out. If they were to fore close on all loans it would absolutley break the banks.
Allstate isn\’t the only one non-renewing policies… Liberty Mutual is too. After 6 years with them, without a claim, I just received my notice from them. Ironically, I had Allstate for 9 years (and 7 years before that in another state) before Liberty Mutual. I had a small lightning claim and was non-renewed the next year by Allstate. I ended up on this blog wondering if Royal Palm would be an insurance company I should check out. Guess not! Anyway, I\’m in the same boat, searching for homeowner\’s insurace.
Okay, has anyone gone to the web to look for their homepage? It\’s gone. They are still listed, when you go to click, the page is no good. Nice huh? This is horrible how insurance can just dump whenever they want. They want our money, but god forbid we ever need their help. This is shameful.
http://www.rpinsurance.com/
Am I missing something? All this news about the state getting the rates lowered. Does it help anyone who has not been renewed, and has to go to a new carrier? Won\’t we still be charged the highest rates. My neighbors on both sides will likely be paying $2,000 less than me for the same house. Where is the rationality of that?
Scam it is. Been with Allstate for over 40 years (home & car). One small claim for tree damage by lightning. They made plenty of money from me and now their runing. They don\’t want me so I will definitely not want them. I\’ll get home and car insurance from another company who\’s hands will be safer than ALLSTATE.