CoachKandSportsguy
07-12-2023, 03:46 AM
Farmers Insurance is leaving Florida in latest blow to homeowners (https://www.tampabay.com/news/business/2023/07/11/farmers-insurance-florida-leaving-hurricanes-insolvent/)
On Tuesday, Farmers Insurance informed the state it was dropping home, auto and umbrella policies across Florida, potentially affecting tens of thousands of people. It’s the fourth company to leave the Florida market in the last year — most citing rising risks from hurricanes. Farmers, a large company with a national presence, also has reduced new business in California, citing extreme weather and wildfire threats.
“This business decision was necessary to effectively manage risk exposure,” the company wrote in a statement.
The good news is that you can keep your roof longer than 10 years. .
On Tuesday, Farmers Insurance informed the state it was dropping home, auto and umbrella policies across Florida, potentially affecting tens of thousands of people. It’s the fourth company to leave the Florida market in the last year — most citing rising risks from hurricanes. Farmers, a large company with a national presence, also has reduced new business in California, citing extreme weather and wildfire threats.
“This business decision was necessary to effectively manage risk exposure,” the company wrote in a statement.
The good news is that you can keep your roof longer than 10 years. .