State Farm Fire & Casualty Co. will no longer offer new property insurance policies within 2,500 feet of the coastline in some areas of Mississippi’s Harrison, Hancock and Jackson counties.
The company made the announcement Wednesday. The policy takes effect Monday, said company spokesman David Majors.
State Farm has the biggest share of business in Mississippi and on the coast, with 30 percent of property insurance policies statewide.
Majors said the company, in assessing its post-Katrina business, decided it would not offer wind coverage within 2,500 feet of the coastline — a 1,500-foot expansion of its previous rule.
Majors said State Farm also will no longer offer other standard coverage, such as fire and theft, in some areas along the coast.
He said those seeking insurance should check with a State Farm agent to see if coverage would be offered in their area. He could not specify areas of coverage.
Many other companies have already pulled out of the wind market in the three coastal counties, but some still offer coverage for other hazards. An independent insurance agent can help find coverage options.
State Farm’s decision does not apply to current policyholders, only new business, Majors said.
Actuary says: 
Coast Resident says: 
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
