Non- renewal of Homeowners Insurance

[Hancle704]

I received a notice on Friday that First Floridian (Travelers of FL) wont be renewing our homeowners insurance policy this year as they are trying to reduce their exposure in this market. Wonder if any other Villagers have received similar notices.

Incidentally, we learned about the wind mitigation deal and following the advice of Agent had our home and roof inspected and were told we would quailify for a premium reduction because it met the newer Codes. So less that 2 weeks after the certified Inspector's report was submitted to the insurance company we are informed that policy wont be renewed.

Agent said there are about 1600 policies not being renewed. Wonder if it really has to do with reduced "exposure" or reduced premiums resulting from being overcharged? Of course, they are willing to continue my automoble coverage, but since they wont write both auto and home we will lose the multi-policy discount too.

Agent said they will get back to me with options and other companies that are still writing homeowners insurance. I now have 3 months to shop around and will surely submit a complaint to the State Insurance Commission. There is no way I will keep my auto policy with First Floridian after this.

Just wondering if there are any other Villagers who have received similar notices?

[mfp509]

I was dropped by Allstate quite a while ago but they were considerate enough to place me with another company. I didn't have to scrounge around looking. The rates are fine also. Allstate continued my car and golf cart coverage.

[villages07]

Hancle,

I was renewed by FF (Travelers) last August...and had the windstorm mitigation done shortly before renewal. We'll see what happens this year. At the time, I asked the agent about non-renewals as I was hearing that was happening. She said that there were some non-renewals (to limit exposure) in the Marion county portion of the Villages because of some sinkhole issues. I had also heard of some ASI clients being non-renewed in areas near Lake Sumter. The rationale on who/where non-renewals occurred seemed to be somewhat random.

Are you on the north/Marion end of TV?

[Hancle704]

Hancle,


Are you on the north/Marion end of TV?




Was told by AAA Insurance that there are sinkhole issues underlying the non renewals, but after living here (north of 466 in Sumter County portion of TV) for over 10 years there have been no sinkholes reported in my community as were reported in Marion County portion near Glenview and Lopez Legacy Courses. I was also told some companies are still writing policies for Marion county area.

I will have to shop around and will try to go with company that will take new homeowners and auto insrance customers.

[Sidney Lanier]

This is pretty disturbing. I didn't know that companies can arbitrarily drop you from coverage without a fault claim. We're still in our first year of coverage, so I guess it's a matter of seeing what happens at renewal time. We're south of CR-466 but not by much (Village of Belvedere)....

[DDoug]

I was told that First Floridian was getting rid of homes pre 2001.Who knows

[gfmucci]

This is pretty disturbing. I didn't know that companies can arbitrarily drop you from coverage without a fault claim. Looks like their equivalent of a "fault claim" was the discount they qualified for.

I felt I got a good rate going through Villages Insurance (Sumter something insurance) - $700 and a little bit per year for a low 200K home.