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Old 10-16-2024, 09:05 AM
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Originally Posted by Babufrick View Post
Loggerhead is picking up Progressive non renewals and some Citizens policies. Only founded in 2022. Financial Stability Rating® of “A” (Exceptional) from Demotech, Inc.
Slide is to Farmers as Loggerhead is to Progressive, offering to insure customers who got dumped by the big national insurer. Slide sent us a renewal quote that is about 150% above our current Farmers premium. They are also rated by Demotech, but not AM best. I am very familiar with AM Best, but not Demotech. It reminds me of before the housing market crash, when issuers of securities backed by subprime mortgages would ratings shop between Moody’s, Standard and Poor’s, and Fitch. We all learned how that turned out! Our insurance agent (Formerly a Farmers agent) instructed us to run away from Slide.