State Farm Leaving Florida Behind

State Farm announced today (Jan. 27, 2009) that it will no longer be providing insurance for over nearly a million Florida Homeowners. For those of you who remember or heard about it, State Farm waged a fierce battle in 2008 to increase their rates approximatly 47%. On January 12, 2009 Florida regulatored denied State Farms request.

Although State Farm will be discountinuing their homeowners insurance, they will continue with their other divisions in Florida, including auto, which has about 2.8 Million customers.

There will not be any immediate change to policy's. So if you have insurance through State Farm you can start breathing again. The Office of Insurance Regulation has 90 days to approve State Farms plam. If approved, State Farm must then provide 180 days notice to customers before any policies can be non-renewed.

The Landry Team