State Farm dropping our homeowners insurance..now what?

[frannn]

Got notified today that State Farm is dropping the homeowner's insurance in our area (Nassau County, NY). Do we now have to shop around for a new policy, or will they give us a list of places to check? Will we need to have an interior/exterior home inspection from a new company? We've been with State Farm for the 12 years we've here, and had auto insurance with them for many more. Never filed a homeowner's ins claim. Not sure how to proceed, and afraid of crazy premiums. Anybody been through this?

 

[ceecee]

Why are they dropping you. Did they give a reason?

 

[ToddyLu]

I would be interested too. We are also State Farm clients on the Gulf Coast and have everything bundled with them. We even filed on flood insurance through them with Katrina--which paid us, homeowners did not.

 

[mad madam mim78]

Probably dropping it because it has become too high risk where you live. Insurance companies only want to set up shop in safe places. I'm always surprised people in Florida can still get insurance. Lol. Dang hurricanes.

I personally like Erie insurance. If there's one in your area check it out.

 

[krcit]

My friend just got dropped by State Farm. They said he is in a 'flood zone'. He had never filed a claim either. They dropped us a few years ago for the same reason. We had to find a new company and have a new inspection.

 

[frannn]

We do not live on the waterfront or anything, but I guess the crazy weather patterns lately in NY are scaring the carriers away. I saw on an internet search that both State Farm and Allstate have done this in other NY counties in the past year or so. I'm hopiing its just a matter of paperwork, and no inspection/raised premiums/jumping through hoops, etc.

 

[krcit]

I'm in Nassau as well. My friend was notified 2 weeks ago that he was dropped and he had to find a new company. In fact, he had the inspection yesterday. Good luck. It's so silly. Where I am we have never flooded either.

 

[mistysue]

The new rates might not be that bad. I've found that every year my rate goes up, the first year or two I can usually talk it down but every couple years I change companies and it will cost down to half as much. (last time I went from $1200 to just under $600- which was where that company had been a few years prior)
Many people don't notice that their insurance jumps because banks will just pay the rate through escrow without even noticing the jump. I don't know if yours is different because of the state, but in Michigan it gets crazy.

 

[disneyhand]

That stinks!

We use an Insurance Broker and when we moved years ago our provider didn't want to insure us at the new house. Something about wildfires. Once our broker explained it was all or nothing to them, they changed their mind. We also had multiple vehicles insured with them.

I doubt that would work with a big company like State Farm when they are dropping an entire area. However, I would take all my business elsewhere in that case, just on principle.

Good luck!

 

[Swimalie]

If you are eligible for USAA, I recommend them. I've been with them for auto for 25 years and homeowners for about 20. No issues (no claims on the homeowners). We only pay about $300 a year for full coverage plus riders on extras. My mother in law has a smaller house, no riders and in an average area and pays $1200 though Allstate.

 

[POOHsie]

We lived in South Florida previously, and State Farm dropped South Florida coverage years ago. We ended up in a state insurance pool, because other insurers dropped South Florida, too. Our monthly insurance bill tripled. To this day, I will not consider State Farm for coverage of any sort, and I let people know why.

 

[bpesch]

Believe me, State Farm is not going to give you a list of competitors for you to go to. To begin with, if they are dropping you, they really don't care about you. So them going above and beyond to help is not going to happen.

Yes, you're going to have to start doing some research and work to find another carrier. I live on the Mississippi Gulf Coast and after Katrina, insurance companies were dropping people right and left. You'll have to start making calls to find a company that will write in your area. After our house was destroyed, we bought a new one about 30 miles north and State Farm was the only company at that time that would even write a new policy in this area. Since then other companies have started to move back in, but it was tough for a while. Good luck!

 

[Muushka]

When we lived in S FL, right after hurricane Andrew, State Farm and other insurance companies started dumping their customers, ones who were not even affected by Andrew. We had (still do) Amica at the time and they did not dump any customers anywhere. In fact, they even sent us a letter stating that they had no intention of dumping anyone.

If I had State Farm and read this thread, I would dump them in a heartbeat. And if anyone who is being dumped by them, please consider dropping their auto insurance too. They don't deserve your business.

 

[IUTBAM]

If you are eligible for USAA, I recommend them. I've been with them for auto for 25 years and homeowners for about 20. No issues (no claims on the homeowners). We only pay about $300 a year for full coverage plus riders on extras. My mother in law has a smaller house, no riders and in an average area and pays $1200 though Allstate.

USAA is only going to be that much cheaper if the home is that much smaller or less expensive to replace. We've been USAA members for years, and have our homeowner's and auto through them. Our $450,000, 3,500 sf home here in Denver, with full coverage and riders costs over $2,500 a year to insure. It's all about the replacement value, and since we have granite, hardwoods, custom cabinetry, etc., it would cost a lot to rebuild, hence, it costs more to insure.

 

[Nayan]

We had Allstate for our home and after Charlie, Francis and Jeanne hit they dropped everyone over here. We had to go shopping, get an inspection, etc. It was a pain but we found a company with better coverage and a cheaper rate. And I agree with dropping them if you have your auto with them. I dropped Allstate after they broke up with us.

 

[njmomtoone]

I'm in Nassau as well. My friend was notified 2 weeks ago that he was dropped and he had to find a new company. In fact, he had the inspection yesterday. Good luck. It's so silly. Where I am we have never flooded either.

There are still some good copmanies out that will write the business.

 

[FLCyndi]

WE got dropped by Allstate after 10 years, no claims and not in a flood zone. We are in Florida panhandle and most insurers will not write new policies for Florida, including USAA. We have St John's for homeowners.

 

[kimisabella]

Try Liberty Mutual. I'm in Nassau as well and have had Liberty Mutual for almost 7 years now and they have been good so far.

 

[Amii]

I live on Cape Cod and we were dropped from our insurance about 4 years ago. I received 2 notices. One said I was being dropped because of concerns over wind damage and the other said we were being dropped because of erosion concerns. I live 6 miles from the beach. Erosion?

All of the insurance companies cleared out of my area and now we can only get insurance through the Fair Plan. (MA State run insurance) We never filed a claim and always paid out bill as soon as it came in.

My husband is a plumber and he was told by several insurance agents that the insurance companies actually pulled out because of the cold winter we had the year before. Many people had damage from frozen water pipes and the insurance companies took a loss.

 

[njmomtoone]

I live on Cape Cod and we were dropped from our insurance about 4 years ago. I received 2 notices. One said I was being dropped because of concerns over wind damage and the other said we were being dropped because of erosion concerns. I live 6 miles from the beach. Erosion?

All of the insurance companies cleared out of my area and now we can only get insurance through the Fair Plan. (MA State run insurance) We never filed a claim and always paid out bill as soon as it came in.

My husband is a plumber and he was told by several insurance agents that the insurance companies actually pulled out because of the cold winter we had the year before. Many people had damage from frozen water pipes and the insurance companies took a loss.

United Property & Casualty Insuranc Co. is another company that will write on the Cape.