Nationwide Insurance Plans to Dump Thousands of Policy Holders in Florida

By
Real Estate Agent with CENTURY 21 Bill Nye Realty, Inc.

Yesterday Nationwide Insurance announced that to limit their exposure to risk in Florida they were going to begin cancelling the policies of 39,000 homeowners and 1,600 commercial policy holders. They said they were forced to do this to "ensure long-term stability for Nationwide's customers, agents and associates."

Their plans will unfold in the following manner:

  • Nationwide will not renew approximately 39,000 homeowner policies and 1,600 commercial policies.
  • Policies affected by this decision will begin non-renewing in January 2008.
  • Nationwide will begin notifying policy holders in September 2007.
  • Nationwide will continue to provide coverage for more than 176,000 personal lines property policies after implementing the announced reductions.
  • The company says that most of the affected homeowners will be offered coverage with Security First Insurance.

    So what happened to insurance reform?? My bill is just as high as ever. Since the start of the year the State Farm and Allstate Floridian have been non-renewing large numbers of policies. And many of those that submitted mandated reductions are now asking that those reductions be lessened. Boo, hoo. The companies that are now able to buy cheaper reinsurance from the state were supposed to pass those savings on to the consumers, but few if any of us have seen these savings.

    And we have to wonder if property tax reform will turn out any better????

    For more information or questions about this topic please call me at: 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com

    I also invite you to visit my website: www.jelwell.century21bnr.com

    Posted by

    John Elwell - REALTOR

    CENTURY 21

    Bill Nye Realty, Inc.

    813-783-4444

    Licensed in Florida

     

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    Rainer
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    CHUCK HAMMOND
    ALLSTATE - Binghamton, NY

    Allstate Insurance                                                         

    82 North Ave.                                                                         

    Owego, NY  13827                                                 

     

     

     

     

    We would like to take this opportunity to introduce our agency.  The Lounsbury Agency has been servicing our community's Homeowner insurance needs for more than 24 years.  We have three convenient locations in Owego , Endicott and Vestal.

     

    We would like the opportunity to service your clients' needs too.  Please contact Chuck Hammond in our Owego location Toll free at 1- 888-687-6848

     

    We are able to bind same day coverage and can take down payments over the phone.  Please feel free to call our agencies with any questions.  We look forward to supporting your clients' needs in their home purchasing experience.

     

     

    Thank you

     

     

    Chuck Hammond

     

    You can go online and get a quick quote at www.allstate247.com

     

    Jan 05, 2009 03:50 AM #1
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    Rainmaker
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    John Elwell

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