State Farm cancellations grow...
By Paige St. John
Florida Capital Bureau"TALLAHASSEE -- State Farm agents, customers and even state regulators are surprised to hear the insurer is canceling thousands more home policies than previously announced.The St. Petersburg Times has reported that State Farm says it will drop 74,000 policies in the coming year as it pulls away from Florida's coast. The biggest hit is in Brevard County, where more than 12,600 policies are to be "non-renewed." According to regulators, State Farm has just 38,000 home policies in the Atlantic Coast county."
Several of the quotes I have given over the last couple weeks at Highmark Insurance, have been due to State Farm sending out their now infamous "non-renewal letters". Perspective clients call in stating they have been with their current company 15, 20, or even more years. They ask "where is the loyalty?" They ask "how can this happen to me I have never even filed a claim?" Unfortunately this is no simple answer, and it is not personal. State Farm agents themselves are being non-renewed by their own company.
When someone calls in this situation I make sure they know they are now in good hands. I will get them a quote in 24 hours or less. I will call them and review the quote so they understand what they are purchasing and how their home will be covered in the event of a loss. I explain that we work as a team and anyone answering the phone should be able to answer their question and if not we will get them the answer and call them back...yes we actually call them back.
AVALAR Pro Realty - Jackson, MS
ABR, GRI, WCR
WOW great post. Thanks for the very informative post. Here is MS I am sure that its coming because we also have a coastal area that had a lot of claims.
Nov 13, 2007 11:59 AM
AVALAR Pro Realty - Jackson, MS
ABR, GRI, WCR
Private Client Insurance LLC - Satellite Beach, FL
Michelle, Go to your home then my settings and add this line of code... <applet code="NCMECbanner.class" codebase="http://banner.missingkids.com/java/" align="baseline" hspace="8" width="342" height="128"> </applet>
Very important... it must be in your blog description section. |
Nov 13, 2007 12:05 PM
International Financing Solutions - Fort Myers, FL
International Financing Solutions
HHmm, that's a bummer, but I believe you will be able to find those clients better insurance at lower rates.
Sean Allen
Nov 13, 2007 12:07 PM
Private Client Insurance LLC - Satellite Beach, FL
It is a bummer but one by one we help them. I bound two of them this week and saved one of them over $1,000.00. It made me feel really good as she said she would now be able to afford Christmas! It is a good feeling when you help someone out like that. I could have easily sold her a more expensive policy but I always sell them what I would have wanted. It is about doing what is right for the client. Plus she already sent me a referral and Highmark Insurance is referral only so this is a great compliment. |
Nov 13, 2007 12:14 PM
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