I agree that it is very difficult in FL to obtain homeowners coverage. Especially if your home is built prior to 2002 when the new building codes became effective. I am one of the few who has not been dropped by Peoples Trust this year, and it is only because I had my roof redone this year! My only other option would be Citizens due to the strict guidelines many of the carriers have here!
It is the fault of certain politicians in this state. They have no long term thinking and only vote on something that is popular in the immediate. We tried to get legislation passed to fix the problem in Florida but Mr. Crist vetoed it, his thinking is always what makes him look good at the moment. But rarely benefits Floridians in the long term, even if the long term is the next 2 years.
State Farm Mutual Auto.
Allstate Corp Z
Zurich Financial Services Ltd
USAA Insurance Group
Nationwide Mutual Group
Liberty Mutual Holding Co.
Travelers Cos.
Notice anything about the above carriers? Not one of them will write a new homeowners policy in Florida. Guess who we get on the list. Citizens Property Ins Corp.
FLORIDA LEGISLATURE AND DOI – DO SOMETHING THAT CREATES AN INCENTIVE FOR THE ABOVE CARRIERS TO WRITE HERE IN FLORIDA!
I’m willing to bet that there are carriers other than People’s Trust willing to insure your home. With all of the trouble they had with using unlicensed agents, collecting improper premium, and not purchasing enough reinsurance, I’d be extremely hesitant keeping my policy there.
You can start your shopping quest for a new policy online. Make sure you tell the agent that you don’t want Citizens.
My home is in Pasco County (Sinkhole Heaven), JM Const. and built in 1977. If you know of any other carriers please let me know! I shopped for 3 months before renewing my policy and had no luck! I write commercial lines and not personal so I am not as up to speed on the carriers/buy outs of CIT policies but I know I don’t want CIT!
Pasco County is a tough sell. I have to assume that People’s Trust has the sinkhole exclusion on your policy and you instead have catastrophic ground cover collapse instead. If that’s the case you still don’t have a lot in the way of options.
Avatar which is a relatively conservative start-up was writing in Pasco last I checked. I believe Security First is also open in Pasco. I’d also check with Florida Peninsula.
While I don’t see any of these as the most attractive of options, none of these companies has had the issues of People’s Trust.
I actually do have the “real” sinkhole coverage!! Mtg requires it. If you are a PL agent and have access to those carriers, I would love to shop. My email is amanda.wertman@yahoo.com if you have options. Thank you!
Sorry to say these carriers will require the exclusion. Hopefully by posting your e-mail address someone else (maybe a little closer to Pasco) will be able to help.
As a FL agent and an insured, when people say they don’t want Citizens why is that? The carriers are all backed by the state so if any of the carriers go under the state will take over. If Citizens goes under well then the state will…so basically it’s all the same. Citizens is so much better than it used to be with service and as a last resort it’s a pretty good one.
FL Agent, as I mentioned, I do commercial so I only use CIT on that side of the book; however, I have heard so many horror stories of how long they take to pay claims. I understand if a big storm takes out everything, no insurance company is going to be quick to pay everyone, but I would rather be with an Insurance Company who doesn’t insure half of all of Fl’s properties!
Brown & Brown Private Client Group works with A+ rated carriers such as Chubbs, Chartis, Pure, Fireman’s Fund, and more.
If you are looking for homeowner’s insurance, contents, auto, personal libility in hurricane states, consider giving Brown & Brown Private Client Group a call for a free quote.
Remember, the value of the contents is determined by the homeowner. It is best to have your contents appraised and recorded to have for your records in any case where you need to make a claim.
Brown n& Brown Private Client Group recommends Asset Archives & Crystal Treasures Inc as insured & bonded services to help you understand the worth of your contents.
I’m glad you’re not my agent FL Agent. You’re like an E&O ticking time bomb. There are so many errors in what you say about Citizens. Let’s start with some good reasons NOT to use Citizens:
1) Citizens is exempt from Florida’s bad faith statute. They have no reason to satisfy you in a claim dispute.
2) Citizens policyholders now get the bulk of the assessments all the way up to 50% of the policy premium.
3) Citizens relies on the CAT fund for 100% of it’s reinsurance. Are you crazy?
Brown & Brown Private Client Group will work with customers in hurricane states for homeowners insurance when the home has a value of at least $1 million.
“Our Private Client Groups’ approach to insurance ensures that your individual needs and lifestyle will be addressed at every stage- from the underwritting of your policies to the handling of your claims.
We also offer competitive pricing without sacrificing quality of service or breadth of coverage. In addition, high deductible options can help you control costs.
Reading your comments has been very interesting. It seems you are in agreement that the FL legislature should fix this problem by taking steps to attract more carriers to the state, but Governor Crist vetoed these measures. I’m wondering if any of you think the legislation introduced by Rep. Klein, the Homeowners’ Defense Act, is a solution, or do you think it is just passing risk from the private market onto the taxpayer. Thank you.
What I think is that Crist shouldnt have vetoed that bill. Let the insurance industry fix itself, we know better than anyone what is needed. I read that there were over 700 letters from consumers against the bill that was proposed.
The people suffering from the poor insurance market in FL are the consumers. I’m not suffering as an agent, I just had to rewrite a client from an excellent carrier(who cancelled them) to another carrier for 3 times more premium. If a less expensive option was available I would have sent them there, but it wasn’t. I’m a consumer here too and I’m tired of the ignorance in this state…on all levels.
I agree that it is very difficult in FL to obtain homeowners coverage. Especially if your home is built prior to 2002 when the new building codes became effective. I am one of the few who has not been dropped by Peoples Trust this year, and it is only because I had my roof redone this year! My only other option would be Citizens due to the strict guidelines many of the carriers have here!
It is the fault of certain politicians in this state. They have no long term thinking and only vote on something that is popular in the immediate. We tried to get legislation passed to fix the problem in Florida but Mr. Crist vetoed it, his thinking is always what makes him look good at the moment. But rarely benefits Floridians in the long term, even if the long term is the next 2 years.
Edison was purchased by Florida Peninsula recently, a top ten carrier in Florida. So the article is incorrect.
State Farm Mutual Auto.
Allstate Corp Z
Zurich Financial Services Ltd
USAA Insurance Group
Nationwide Mutual Group
Liberty Mutual Holding Co.
Travelers Cos.
Notice anything about the above carriers? Not one of them will write a new homeowners policy in Florida. Guess who we get on the list. Citizens Property Ins Corp.
FLORIDA LEGISLATURE AND DOI – DO SOMETHING THAT CREATES AN INCENTIVE FOR THE ABOVE CARRIERS TO WRITE HERE IN FLORIDA!
All of the companies you all are mentioning will not be around after a storm. Sarah is right about the Florida carriers you have down there.
They are set up to fail in the event of a major storm. Your guarantee association is going to be handling all of your claims after a cat 4 storm.
I’m willing to bet that there are carriers other than People’s Trust willing to insure your home. With all of the trouble they had with using unlicensed agents, collecting improper premium, and not purchasing enough reinsurance, I’d be extremely hesitant keeping my policy there.
You can start your shopping quest for a new policy online. Make sure you tell the agent that you don’t want Citizens.
My home is in Pasco County (Sinkhole Heaven), JM Const. and built in 1977. If you know of any other carriers please let me know! I shopped for 3 months before renewing my policy and had no luck! I write commercial lines and not personal so I am not as up to speed on the carriers/buy outs of CIT policies but I know I don’t want CIT!
Pasco County is a tough sell. I have to assume that People’s Trust has the sinkhole exclusion on your policy and you instead have catastrophic ground cover collapse instead. If that’s the case you still don’t have a lot in the way of options.
Avatar which is a relatively conservative start-up was writing in Pasco last I checked. I believe Security First is also open in Pasco. I’d also check with Florida Peninsula.
While I don’t see any of these as the most attractive of options, none of these companies has had the issues of People’s Trust.
I actually do have the “real” sinkhole coverage!! Mtg requires it. If you are a PL agent and have access to those carriers, I would love to shop. My email is amanda.wertman@yahoo.com if you have options. Thank you!
Sorry to say these carriers will require the exclusion. Hopefully by posting your e-mail address someone else (maybe a little closer to Pasco) will be able to help.
John- we know that, in total agreement.
Pasco people-probably the only option is Citizens just make sure you have the sinkhole extension coverage.
If your rebuild value is more than a million, you May be eligible for coverage with Chubb, Chartis, Firemans etc…
As a FL agent and an insured, when people say they don’t want Citizens why is that? The carriers are all backed by the state so if any of the carriers go under the state will take over. If Citizens goes under well then the state will…so basically it’s all the same. Citizens is so much better than it used to be with service and as a last resort it’s a pretty good one.
FL Agent, as I mentioned, I do commercial so I only use CIT on that side of the book; however, I have heard so many horror stories of how long they take to pay claims. I understand if a big storm takes out everything, no insurance company is going to be quick to pay everyone, but I would rather be with an Insurance Company who doesn’t insure half of all of Fl’s properties!
I think it would be optimistic to think it would take a CAT 4 to bring the house of cards down.
Anything big enough to demonstrate actual vs modeled losses is likely to shine a light bright enough to make the cockroaches scurry for the Caymans.
Brown & Brown Private Client Group works with A+ rated carriers such as Chubbs, Chartis, Pure, Fireman’s Fund, and more.
If you are looking for homeowner’s insurance, contents, auto, personal libility in hurricane states, consider giving Brown & Brown Private Client Group a call for a free quote.
contact Charles Raymond
302-366-0326
craymond@bbprivateclient.com
Remember, the value of the contents is determined by the homeowner. It is best to have your contents appraised and recorded to have for your records in any case where you need to make a claim.
Brown n& Brown Private Client Group recommends Asset Archives & Crystal Treasures Inc as insured & bonded services to help you understand the worth of your contents.
http://www.assetarchives.com
http://www.crystaltreasuresinc.com
* Discounts are available for Chubbs & Chartis customers for these independent value documentation services.
I’m glad you’re not my agent FL Agent. You’re like an E&O ticking time bomb. There are so many errors in what you say about Citizens. Let’s start with some good reasons NOT to use Citizens:
1) Citizens is exempt from Florida’s bad faith statute. They have no reason to satisfy you in a claim dispute.
2) Citizens policyholders now get the bulk of the assessments all the way up to 50% of the policy premium.
3) Citizens relies on the CAT fund for 100% of it’s reinsurance. Are you crazy?
Like I mentioned, that was my PERSONAL opinion. With the experience that I HAVE HAD PERSONALLY, with CIT, I do not trust them to handle my insurance.
Brown & Brown Private Client Group will work with customers in hurricane states for homeowners insurance when the home has a value of at least $1 million.
“Our Private Client Groups’ approach to insurance ensures that your individual needs and lifestyle will be addressed at every stage- from the underwritting of your policies to the handling of your claims.
We also offer competitive pricing without sacrificing quality of service or breadth of coverage. In addition, high deductible options can help you control costs.
Find out what we can do for you.”
CHARTIS
Your World,insured.
Reading your comments has been very interesting. It seems you are in agreement that the FL legislature should fix this problem by taking steps to attract more carriers to the state, but Governor Crist vetoed these measures. I’m wondering if any of you think the legislation introduced by Rep. Klein, the Homeowners’ Defense Act, is a solution, or do you think it is just passing risk from the private market onto the taxpayer. Thank you.
What I think is that Crist shouldnt have vetoed that bill. Let the insurance industry fix itself, we know better than anyone what is needed. I read that there were over 700 letters from consumers against the bill that was proposed.
The people suffering from the poor insurance market in FL are the consumers. I’m not suffering as an agent, I just had to rewrite a client from an excellent carrier(who cancelled them) to another carrier for 3 times more premium. If a less expensive option was available I would have sent them there, but it wasn’t. I’m a consumer here too and I’m tired of the ignorance in this state…on all levels.