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.
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