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“Some are on individual homes where the owners don’t have any other insurance with Alfa.” That is illegal in VA. I hope Alfa is prepared to defend that portion of their non-renewal decision. They will probably get a whopping fine for that.
Well, look at it this way – this opens the market for all the other insurance companies in Alabama out there to take on new clients. If you work for a brokerage, you have a lot more options to offer these poor folks who are being dropped.
It is legal in Alabama and it opens the door for independent insurance agencies to get back some of those direct GEICO and Progressive auto policies.
Unfortunately, it is not illegal in Alabama and we’ve seen several companies, including Allstate, nonrenew customers who did not have more than one life of coverage with them in the years post-Katrina.
I suppose the song “Sweet Home Alabama” is inappropriate in this instance.
As an Independent agent in South Florida I feel there pain. It should be illegal for an Insurer to pull out because of mother nature. It shows that they are only after the profit and don’t really care about the clients. SHAME ON THEM !!!
What Alfa is doing is appropriate. Most of the “landlord business”
is what other companies didn’t want. Rental dwellings are an accomodation book of business if a clint relationship exists as opposed to an order for rental dwelling coverage. High potential for claims; weather, VM&M, theft, liability, etc., is always part of rental dwelling business.
No, but Neil Young’s “Alabama” or even “What’s It All About, Alfa?” might be heard playing in the background….
Not surprising, but I suppose you can blame the company for writing the volume of stuff concentrated in their small writing territory. Such is life. Others will fill the gap.
We have been an Alfa customer for 23 years. Now we have been told that our policy will not be renewed because our home is over 10 years old. Don’t see how legally they can do this. We have auto insurance with Alfa also which we just switched over from another company about a month ago due to some rumors that were going around about how that if you didn’t have both homeowners and auto with Alfa that your homeowners would be cancelled. So when switching I commented on the reason for switching my auto over to Alfa and was not informed that our homeowners would be cancelled anyway. Now this puts us in a bind. We will not only be looking for homeowners insurance but auto insurance as well. I believe that Alfa used to have a very good reputation. We are very disappointed in Alfa!
Our mortgage insurance was recently cancelled. We have had auto, life and mortgage policies with them for over 25 years. We have never even filed a claim! Our home is older, but is in the same condition it was in last year when pictures were taken. I believe they are overwhelmed with how much they are paying out in claims after the disasters. I’m thinking about how much WE have paid out in premiums the last 28 years!! They are liars and just another greedy insurance corporation.
We will be changing to a company that values us as faithful long time customers!