Like all the other carriers State Farm is being hit hard w/ Sinkhole claims in the hundreds of millions in the last 4 years.According to the OIR in Tall. State Farm is also trying to only reduce premiums by $150 when most reductions from other carriers are double that amount. State Farm agents get a commission %age that is higher than any in the Florida marketplace which is great for the agents and not the consumer. All of this while State Farm makes hundreds of millions on the off shore re-insurance marketplace and all discounts for Home  Insurance have already been removed as well. I guess thay are not such a good neighbor here in Florida. Please call L & S Insurance or ask for a quote on the Blog page as well. Please enjoy the latest update on Satte farm and the Sinkhole issues that face Florida Homeowner’s and the Public adjustors that have made this problem way out of control.
http://www.insurancejournal.com/news/southeast/2011/02/18/187036.htm
February 20, 2011 at 5:45 pm
Helpful submit, I seriously enjoy updates by you.
February 24, 2011 at 7:59 pm
I am puzzled by your posts Mr Home Ins Guru. It seems you are opposed to the carriers stances on sinkholes/and rate+file, and lobbying, but you also represent many of these carriers? Don’t you make a commission of each policy you sell for Home Insurance? Also, do you understand the the domestic carriers would like to stay in business vs up and leave, leaving the FL consumer with little to no options on coverage? I’m more than sure that your agency has benefitted from the droves of clients that have migrated from State Farm. Let me ask you, how much are YOU burdening Citizens Ins with, since you are in South Florida? I figure many carriers are either locked up or not writing in that area due to exposure, so this means YOUR options are very limited. I guess it’s ok to write more with Citizens since they’re the only option!