In May of 2007 Allstate Floridian reached an agreement with Royal Palm Insurance Co., a new property insurer in the state, to offer Allstate Floridian customers and Florida consumers property insurance coverage. Allstate did this with the knowledge that they would be non-renewing the vast majority of the 120,000 Allstate Floridian policyholders as their current policies expire they will be offered homeowners coverage from Royal Palm Insurance. In early May Royal Palm Insurance Company, had arranged to take over the vast majority of nearly 120,000 state-wide policyholders that Allstate Floridian declined to renew. Many of these policyholders are on barrier islands and will have an impact on the insurance market in coastal areas such as Brevard County.
Highmark Insurance has an alternative to Royal Palm. We have companies that will write your home even if it is directly on the beach, and you will not need a separate wind policy as wind will be included. We have great relationships with our carriers and they want to write on the barrier islands. We find the rates with these companies to be very competitive. We have empowered our clients to check these companies by giving them the number to the Department of Financial Services to check out our carriers and Royal Palm. The feedback has been staggering as our clients have stated that Royal Palm has had over 150 complaints in the past 365 days. Imagine if we would have had a hurricane???
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