State Farm dropping our homeowners insurance..now what?

[Crazy4DisneyandTink]

State Farm dropped me after a terrible break-in at my house and I filed a claim. Almost everything of value was taken. I shopped around for other insurance companies and no one would take me. My insurance agent went to bat for me and they would only take me back with a $5000 deductible.

 

[Cira]

On principle I dropped our State Farm vehicle coverage, even though I had never had homeowners with State Farm. I figured if they didn't want to cover anyone in South Florida, they could take their business elsewhere. If I'm not mistaken, and I could be remembering this incorrectly, State Farm claimed after Andrew that they were bankrupt in Florida. After some kind of an audit or investigation, it turned out they were in the black. Check on the latter facts, have fuzzy memory, but this seems to stand out in my mind.

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.

 

[Chelley00]

State Farm just dropped our homeowners insurance too. We had a kitchen fire claim last August and they've "opted not to renew", and actually, I'm kinda glad because they were HORRIBLE to deal with on the claim. My FIL started the policy in 1971 which "grandfathered" us in when we got married. Our house has been with them since we built in 2000. They don't care, and our agent is getting ready to retire so he's not doing anything anymore.

We got a great rate with Progressive, and took our car insurance with us. You shouldn't see much of an increase really, if you don't have claims.

 

[Muushka]

On principle I dropped our State Farm vehicle coverage, even though I had never had homeowners with State Farm. I figured if they didn't want to cover anyone in South Florida, they could take their business elsewhere. If I'm not mistaken, and I could be remembering this incorrectly, State Farm claimed after Andrew that they were bankrupt in Florida. After some kind of an audit or investigation, it turned out they were in the black. Check on the latter facts, have fuzzy memory, but this seems to stand out in my mind.

That sounds something like those dogs would do. Good for you for dropping them!

 

[Muushka]

Oh, and since we are dumping on State Farm, I have another one.

Someone with State Farm rear-ended me several years ago. When they cut me a check for the repairs it was less than half of the estimate I had gotten from a car repair place of my choice. My ins co (Amica, sorry to keep saying their name, but they are good!) told me to go ahead and get it repaired where ever I wanted, they would go after State Farm for the extra $$, which they did.

 

[mrsstats]

Find an independent agent who can shop various companies. Try different agents as each one can have different companies. Not all insurance companies will do an interior and exterior inspections. Most will do just an exterior inspection. I work for an agency in Smithtown.

 

[njmomtoone]

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?

Try Interboro Mutual (they are in Mineola). Mercury or Global Liberty (Plainview). They all write in Nassau County. Interboro and Mercury generally do outside inspections. Global may do an interior, depending on the age of the home.

 

[Amii]

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

I called them before and they said they insure parts of the Cape but they do not cover my area. Weird.

 

[LSchrow]

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.

we're in suffolk, and have had Liberty mutual for our HM ins for 28 years. I did call around a few times, but the rates/coverage with other companies was not worth switching for. (we also have an underground oil tank - a very few ins companies said they don't issue policies on homes with them).

we've been very happy with LM - though i don't think we've ever had a claim, they have always been very responsive to any questions or concerns. they do have a local office, with real people - a biggie for me

 

[njmomtoone]

I called them before and they said they insure parts of the Cape but they do not cover my area. Weird.

What town are you in?

 

[kimisabella]

we're in suffolk, and have had Liberty mutual for our HM ins for 28 years. I did call around a few times, but the rates/coverage with other companies was not worth switching for. (we also have an underground oil tank - a very few ins companies said they don't issue policies on homes with them).

we've been very happy with LM - though i don't think we've ever had a claim, they have always been very responsive to any questions or concerns. they do have a local office, with real people - a biggie for me

Unfortunatley, we have had to put in a claim with them. About 3 years ago, a pipe in the ceiling of my kitchen burst in the middle of the night and water poured into my kitchen, and ultimately into my basement for hours, until my husband woke up and discovered what happened. Liberty Mutual sent a clean up team within a few hours and was very easy to work with. I don't even think our rates went up, even though it was a significant amount of money that they had to pay out for all the damage.

 

[Amii]

What town are you in?

I live in Forestdale.

 

[ekatiel]

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.

We find USAA's "replacement value" to be higher than other carriers. We use USAA for our bank and have tried to switch to them for homeowners and car insurance several times. The car insurance is always cheaper, but the home insurance is always more because they give our home such a high replacement value. Since we've got a bundled discount for auto and home together with Farmer's we're sticking with them for now. --Katie

 

[Sugardimples]

So much for "Like a Good Neighbor, State Farm is There"!

 

[LSchrow]

Unfortunatley, we have had to put in a claim with them. About 3 years ago, a pipe in the ceiling of my kitchen burst in the middle of the night and water poured into my kitchen, and ultimately into my basement for hours, until my husband woke up and discovered what happened. Liberty Mutual sent a clean up team within a few hours and was very easy to work with. I don't even think our rates went up, even though it was a significant amount of money that they had to pay out for all the damage.

i'm sorry about your "incident", but very appreciative of your sharing the outcome.
it is really reassuring to hear that they are good with claims - thanks

 

[Swimalie]

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.

Ours is a 2600 sq foot house for $470,000 with full coverage plus riders. We still only pay about $300 a year. We have quartz, hardwood floors, high end cabinets, etc. Rebuilding in this area is very expensive but USAA keeps the rate low. I've been a member for 26 years now and my husband the same.

 

[sarmat1]

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?

Since you're in NY, you also might want to contact AAA Mid-Atlantic. They do both auto and homeowners and can be quite competitive (particularly if you're a AAA member).

 

[Snowflakey]

I LOVE State Farm and feel as though I should say so. We've been insured for 20+ years. I've had 2 cars totalled (not my fault in either one) and had hurricane damage which cost $15,000 plus and State Farm was there - like a good neighbor Since they are the number one auto insurer in the country they are doing something right.

OP I am so sorry they dropped your homeowner insurance. MANY other insurance companies are doing the same. I think the industry is just trying to make wise business decisions to keep profitable by staying away from high risk areas IMO.

 

[merina888]

We use Travelers. I can't say it's the cheapest, but they also have our car insurance. We've never had a problem with them.

 

[riley2008]

Allstate dropped us about 6 years ago, here in south Texas, after hurricane Claudette. They dropped everyone in our area that did not have "brick siding". Didn't matter that my house had made it through two of the areas worst hurricanes in 50+ years without any problems. and we had never filed anything with them.

Ended up finding a cheaper rate, better coverage, and lower deductibles. Probably wouldn't have shopped around as my parents had been with Allstate forever, and I just followed suit.

This may be a blessing in disquise - albeit a time consuming one. Good luck!