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Originally Posted by tophcfa
My understanding is that your existing insurance company can’t dump you under the circumstances stated above. It doesn’t mean they have to offer coverage to a new customer. It’s only getting worse, Farmers will be sending out mandatory 120 notice letters to all existing customers with insurance through the Farmers name (not subsidiaries like Foremost) starting October first stating that they won’t be renewing ALL homeowners and auto policies in the state of Florida. So basically, everyone in Florida with a policy that renews after January 28, 2024 will be getting dumped. If they pull entirely out of the state, they aren’t bound by any laws to protect their former customers. So out goes one of the biggest insurance companies in the state, leaving countless residents looking for policies from other insurers who don’t want more exposure to that market. It’s a disaster scenario in the making, compounded by the rapid growth of the state.
At least our Farmers policy renews December first and our roof is 14 years old, so the law prevents them from dumping us until December of 2024. We are probably going to have to replace our still perfectly fine roof before then to get another company willing to offer us a policy. Thanks a bunch to everyone who participated in the new roof scam, your actions are causing us both a major hassle as well as $$$$$$.
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I had n 11 year old roof replaced last year. Several neighbors had had theirs replaced before and I too am thinking "scam". I had had an insurance company (prior to the new law) drop my coverage due to 10 year old roof and had to search for a new company. We were thinking about selling and knew that the roof could be a sticking point so we had two companies inspect our roof and both found wind damage. We called our insurance company who agreed with the damage and to replace the roof. Not all replacements are scams! I am hopeful that new installation requirements will mitigate wind damage and the FL will somehow "fix" the insurance crisis.