Well this discussion maybe moot at least until the next anniversary dates of policies following the total loss accounting of various companies because companies may well raise rates substantially and/or pull out of the state altogether.
I have been with State Farm for many years . when we moved here 11 years ago State Farm had a moratorium on writing new Homeowner policies and they considered a "transfer in", a new policy.
Because they would not take my homeowners I moved all of my policies to ASI. One year later ASI's premiums went up substantially.
So I called State Farm and found they were writing homeowners again . Since returning to them, State Farm has taken two big premium jumps on Homeowners and in addition added a separate premium charge for sinkhole, and accepted the endorsement only after they inspected my property , a inspection fee they made me pay. my auto rates have been going up every year and I never had an accident?
State Farm is expensive and there are no guarantees. State Farm will honor their claims fairly and fully without a doubt. However will they stay? how much will premiums go up because of Irma? But they are a national company with an excellent reputation
I am a life long insurance guy who studied every aspect of insurance and cannot tell you what Insurance Home Offices are going to do next or what position the governor will take? I can offer an educated guess However, it depends on their bottom line
the good news is that those coastal homes built after 1995 weathered this storm fairly well.
Review your policies look at what you believe you can absorb in losses to your home, personal property and autos. Finally, despite what you have heard or been told insurance is not like gambling. with gambling you pay out and will either have a win or a loss. with insurance you payout and have that invisible commodity called security always and if you do suffer a loss you are paid.
Personal Best Regards:
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