In a recent report, Allstate Floridian Insurance Company announced that more than 100,000 additional property insurance customers will have their policy move to another company.
Since 2004, Allstate Floridian Insurance Company was hit hard by many insurance claims. This has since cause Allstate to shed hundreds of thousands of policies. They are trying to find other companies to take over the coverage and that it's agents would continue to serve them thru a smooth transaction.
It's been reported that Allstate has dropped over 200,000 customers policies including mine. These policy holders will receive 90 day notice before their renewal. This by no means will be good news for any homeowner. For one, any new policy will be more expensive. This will be an added burden for many struggling Florida residents.
However, Allstate is not the only carrier to not renew policies. Many other insurers here have been trying and have since drop many homeowners policy.
A group of industry leaders who formed a group called Hurricane Crisis Coalition, has released a set of proposals in which they hope it will help legislators to consider tackling Florida's property insurance dilemma.
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