JACKSONVILLE, Fla. -- While the First Coast may not be as hard hit as State Farm customers in the Tampa area, the non-renewal notices are still getting mixed reaction.
Victoria Baer is a State Farm customer. "I've been a policyholder for 26 years," said Baer.
Even so Baer, an advertising business owner, said she understands the company's decision to drop 125,000 customers throughout the state.
"I know they don't want to let go of any policyholder; it is money for them, what's not money for them is the risk," said Baer.
The company's decision is part of a settlement reached with the Office of Insurance Regulation to leaving Florida completely.
The company was granted a 14.8 percent rate increase instead of the 47.1 percent it was requesting.
David Miller, president of Brightway Insurance, said the homeowner's insurance market is now competitive and State Farm customers will be able to find coverage.
"I think when they go to shop, some that are being forced, they're going to find that there are actually some tremendous savings and this could end up being a blessing in disguise for many people."
At least 13 companies, including American Integrity and Security First and United Property & Casualty have been approved by State Farm to work with its agents to provide coverage for the policies that are being dropped.
Homeowners will have 180 days from the non-renewal notice to find new coverage.
State Farm insures nearly 714,000 homeowners in Florida.
Friday, January 29, 2010
Sunday, January 10, 2010
Top 5 Tips to Home Insurance Claims
Homeowners can take steps to let the claim process run more smoothly, helping prevent their homeowners insurance claim from being denied, according to a recent article on InsuranceAgents.com.
In many parts of the country, homeowners are trying to pick up the pieces of their homes belongings, damaged from high winds and severe storms. Extreme weather has ripped off roofs, flooded homes, torn down walls. It would be best if homeowners included features to their homes including hurricane shutters, strong and sturdy roofing material, storm doors, impact-proof window glass, etc. But not all homeowners get around to installing these items. And once the damage is done, it's done. After disaster strikes and damage's one's home, homeowners end up praying that their homeowners insurance claims to their providers will not be denied.
If disaster strikes-say, a flood, for instance-it's important for homeowners not to waste any time. Filing the homeowners insurance claim immediately is the first step to making the claim process go smoothly. Homeowners should ask their insurance agent exactly what information regarding the disaster situation they need from them to file the claim.
The InsuranceAgents.com article, 'How to File a Homeowners Insurance Claim,' strongly encourages homeowners to assess the damage done and then document it. "It's always a good idea to document any damages that occur in your home. Take photographs or video (closer photos provide more details) of your furniture, any damaged rooms and walls, your own personal belongings, etc. Separate all of your personal belongings and home content-the damaged from the undamaged."
It is also not recommended for homeowners to throw away any damaged content, as the insurance claims adjuster will want to inspect it.
Now is the time for homeowners to educate themselves on how to disaster-proof their home; it's important for them to know the ins and outs of filing a homeowners insurance claim. Let's face it-these days, paying to repair home damages out-of-pocket isn't always money many homeowners have lying around. In fact, it can cause a serious strain on years' worth of savings. Obtaining a strong home insurance policy and also knowing how to file a homeowners insurance claim can mean the difference between severe debt and extreme savings if a natural disaster were to strike.
In many parts of the country, homeowners are trying to pick up the pieces of their homes belongings, damaged from high winds and severe storms. Extreme weather has ripped off roofs, flooded homes, torn down walls. It would be best if homeowners included features to their homes including hurricane shutters, strong and sturdy roofing material, storm doors, impact-proof window glass, etc. But not all homeowners get around to installing these items. And once the damage is done, it's done. After disaster strikes and damage's one's home, homeowners end up praying that their homeowners insurance claims to their providers will not be denied.
If disaster strikes-say, a flood, for instance-it's important for homeowners not to waste any time. Filing the homeowners insurance claim immediately is the first step to making the claim process go smoothly. Homeowners should ask their insurance agent exactly what information regarding the disaster situation they need from them to file the claim.
The InsuranceAgents.com article, 'How to File a Homeowners Insurance Claim,' strongly encourages homeowners to assess the damage done and then document it. "It's always a good idea to document any damages that occur in your home. Take photographs or video (closer photos provide more details) of your furniture, any damaged rooms and walls, your own personal belongings, etc. Separate all of your personal belongings and home content-the damaged from the undamaged."
It is also not recommended for homeowners to throw away any damaged content, as the insurance claims adjuster will want to inspect it.
Now is the time for homeowners to educate themselves on how to disaster-proof their home; it's important for them to know the ins and outs of filing a homeowners insurance claim. Let's face it-these days, paying to repair home damages out-of-pocket isn't always money many homeowners have lying around. In fact, it can cause a serious strain on years' worth of savings. Obtaining a strong home insurance policy and also knowing how to file a homeowners insurance claim can mean the difference between severe debt and extreme savings if a natural disaster were to strike.
Halifax Home Insurance gives cold weather advice
You might be tired of hearing about the big freeze and fed up with the icy conditions outside, but protecting your home against the cold should still be top of the checklist. Insurer Halifax is advising home owners to take the severe weather warnings seriously, as the Met Office is predicting more snow over the next 10 days.
One of the most important considerations when it comes to keeping your home warm and toasty is making sure the loft is properly insulated. Water pipes and the water tank also need to be insulated to avoid the horror of burst pipes and the huge financial impact it can have.
“The average cost to repair damage by a burst pipe is around £2000, so it is worth taking steps to prevent frozen pipes, making sure you have adequate insurance in place. It’s also worth knowing what to do to limit the damage if a pipe does actually burst.” Martyn Foulds of Halifax explained.
An unlucky 16% of all home insurance claims with halifax between the beginning of December and the beginning of January were down to this familiar scenario.
One of the most important considerations when it comes to keeping your home warm and toasty is making sure the loft is properly insulated. Water pipes and the water tank also need to be insulated to avoid the horror of burst pipes and the huge financial impact it can have.“The average cost to repair damage by a burst pipe is around £2000, so it is worth taking steps to prevent frozen pipes, making sure you have adequate insurance in place. It’s also worth knowing what to do to limit the damage if a pipe does actually burst.” Martyn Foulds of Halifax explained.
An unlucky 16% of all home insurance claims with halifax between the beginning of December and the beginning of January were down to this familiar scenario.
Subscribe to:
Comments (Atom)