Progressive
 

Progressive has ended its fire protection which includes structural damage in the state of Florida.

20 years with them and it's come to an end.

50% of their policies about to be cancelled.

Progressive won’t renew some homeowners insurance policies in Florida | WFLA

Maybe not a problem here in the bubble
 

Quote from the link above:

"Progressive is expected to cancel 47,000 DP3 policies, which generally deal with secondary residences, and 53,000 “high-risk properties,” according to the Insurance Information Institute."

Seems to me the primary residence in The Villages won't be affected.

I know of two homeowners on my street who were dropped by Progressive. Both were year round residents. So, It is hitting folks in The Villages.

They dropped me after 7 years with them, no claims, we are full time and the home is only 7 years old. I did find a replacement through The Villages insurance at the same cost and coverage.

I dropped them, home and auto. Nothing but rate increases.

Had Progressive for many years. This Feburary they wanted to increase my Homeowners from $3200 to $4600. Being with The Villages Insurance I had them research other possibilities and they found me comparable coverage at $2350. Hopefully I’ll be able to stay with this company for awhile but I have a feeling Homeowners and Auto will be an annual research project.

They are affected

Flo the Ho gotta go

In addition to opting to non-renew existing homeowners policies, Progressive has now begun its exit from the new business segment. We have had our insurance with them through The Villages Insurance for many years. When we bought a new home this month (moving within the same Village), Progressive would not write the homeowners on the new house. Our agent told us Progressive is now refusing to issue new business homeowners policies in Florida. They had renewed the policy on our previous home in December.

Not good. Add them to the list along with Farmers and others and it tells you that companies simply don’t want to do business in the state. I would like to think that the powers that be regulating insurance in the state are asking them exactly why they are pulling out and what could be done to keep them from leaving. A rapidly growing state, with a rapidly dwindling number of insurers willing to write policies there, can only mean one thing for everyone’s annual renewal premiums. This has gotten out of control over the last few years with no end in sight.

Just added them for my car insurance, a lot less expensive than State Farm. Would not quote homeowners, which was OK.

Bottomline, don't you think it's mounting losses & portfolio diversification??

Absolutely, portfolio diversification and tropical storm risk are out of both the hands of the insurers and regulators. The key question is what other controllable factors (roofing scams, tort reform, etc…) are contributing to mounting losses that could be addressed? Every time another insurer pulls out of the market, portfolio diversification becomes a bigger problem for the remaining companies in the market. Something needs to be done to prevent more insurers from leaving the state, and ideally something meaningful enough to get other companies to want to again start writing policies in the sunshine state.

Flo......you done folks wrong!

We also got dropped. Who did they have you go with.