The Pull Out Method: State Farm Non Renews 72,000 California Policies

[Onebadcad]

I have SF as HO INS for the past four years, no other comes within 20% of their premium.

They are very selective, will not insure if built before 1993, they also want a newer roof.

I would imagine they have cut 50% of their policies in the past 10 years, as many have.

Of course to get the lowest premium you must bundle with cars, and they are ripping me off at $1,500/year on each car, so I need to do some shopping.

[LATB]

Originally Posted by Onebadcad

I have SF as HO INS for the past four years, no other comes within 20% of their premium.

They are very selective, will not insure if built before 1993, they also want a newer roof.

I would imagine they have cut 50% of their policies in the past 10 years, as many have.

Of course to get the lowest premium you must bundle with cars, and they are ripping me off at $1,500/year on each car, so I need to do some shopping.

I did not know that they were back to writing policies in Florida.
And any insurer will require that the roof is less than 15 years old.

[DJ_Critterus]

Originally Posted by LATB

I did not know that they were back to writing policies in Florida.
And any insurer will require that the roof is less than 15 years old.

I am forced to use one of the two State provided insurers here in FL because of the age of my house, but they require the roof be no less than 20 years old.

[Onebadcad]

Originally Posted by LATB

I did not know that they were back to writing policies in Florida.
And any insurer will require that the roof is less than 15 years old.

They are VERY selective on age of home, age of roof, credit and bundling.
I also 'think' they will not take on coastal areas.

I would bet they drop many more policies than they add each year.

[LATB]

Originally Posted by Onebadcad

They are VERY selective on age of home, age of roof, credit and bundling.
I also 'think' they will not take on coastal areas.

I would bet they drop many more policies than they add each year.

I’m not coastal anymore. And my new house is north of I-10 so I don’t even need to have impact windows.

[DJ_Critterus]

Originally Posted by LATB

I’m not coastal anymore. And my new house is north of I-10 so I don’t even need to have impact windows.

Even USAA won't insure anything other than auto here in FL.

[dvarapala]

Originally Posted by LATB

They left FL decades ago.
If I was in charge of the legislature I would have a policy that if you don’t sell property insurance you can’t sell auto and other gravy products.

If an area is too risky to profitably sell property insurance, that's should be a big red flag to buyers to stay the hell away from such areas. There's no reason why an insurance company should be coerced into selling insurance policies in areas with excessive risk, because all that does is jack up the premiums for everyone else who selected a more prudent site to build/buy a home.

[dvarapala]

Originally Posted by LATB

And any insurer will require that the roof is less than 15 years old.

So if I install a standing seam metal roof with a 50-year lifespan I still have to replace it after 15 years or be dropped from insurance?

ICNLT

[LATB]

Originally Posted by dvarapala

If an area is too risky to profitably sell property insurance, that's should be a big red flag to buyers to stay the hell away from such areas. There's no reason why an insurance company should be coerced into selling insurance policies in areas with excessive risk, because all that does is jack up the premiums for everyone else who selected a more prudent site to build/buy a home.

COBRA was designed to solve that. It didn’t.

[ZipZap]

Originally Posted by DJ_Critterus

Even USAA won't insure anything other than auto here in FL.

Maybe new policies. FL still has one of, if not the, largest USAA home liability on the books.

[dvarapala]

Originally Posted by LATB

COBRA was designed to solve that. It didn’t.

The only "solution" needed is for people to self-insure. If you're wealthy enough to rebuild your house out of your own pocket, go ahead and build wherever you want. But don't build a house in a high-risk area and expect the rest of us to bail you out when it gets flattened.

[DJ_Critterus]

Originally Posted by ZipZap

Maybe new policies. FL still has one of, if not the, largest USAA home liability on the books.

And USAA, along with most other insurers, are doing everything they can to depopulate their books via not supplying policies, non-renewals, and flat out dropping policies.

[LATB]

Originally Posted by dvarapala

The only "solution" needed is for people to self-insure. If you're wealthy enough to rebuild your house out of your own pocket, go ahead and build wherever you want. But don't build a house in a high-risk area and expect the rest of us to bail you out when it gets flattened.

The problem is defining high risk areas.

[Vette40th]

I guess the big question is, is there a contract with them? Or are these truly just monthly, month and yearly policies?
And who backs these power houses of insurance scams? They never pay out well, if they do at all. Then, rates go up for everyone

[BRUIZER]

Two sfr's and four vehicle with SF since Jan this year.
They beat-out the others quotes by a wide margin.

[DJ_Critterus]

Originally Posted by BRUIZER

Two sfr's and four vehicle with SF since Jan this year.
They beat-out the others quotes by a wide margin.

And you live where? ID? We know why it's easy for you to get a policy with them. They have minimal risk.

[Vette40th]

One thing I have learned about insurance prices, besides being all over the place, is to ask exactly what they cover. Rentals, damage, parts...

[BRUIZER]

Originally Posted by DJ_Critterus

And you live where? ID? We know why it's easy for you to get a policy with them. They have minimal risk.

This is for sw MT, Gallatin county. Between one of tge highest drunk driving statistics in the country, weather related accidents/deaths and vehicle collisions with game/livestock it's rated fairly high/risky for insuring vehicles. Surprising I know.

[Newby]

Originally Posted by dvarapala

So if I install a standing seam metal roof with a 50-year lifespan I still have to replace it after 15 years or be dropped from insurance?

ICNLT

Legitimate question

[LATB]

Originally Posted by dvarapala

So if I install a standing seam metal roof with a 50-year lifespan I still have to replace it after 15 years or be dropped from insurance?

ICNLT

Believe it or not but it’s true.
Last year I sold a 28 year old all steel commercial building with a metal roof. The buyer could not get property insurance. He went with liability and self insured the building.

I personally spoke with the insurance broker and then the underwriter. I told both of them that a roofer could go out and remove the roof panels and the same day reinstall the same panels and then it’s a “new” roof.
One said no the panels would need to be replaced. I said that is ridiculous and how would you know anyway.
Crickets.