WOW..Florida State Farm..You Dickheads

[TheKinz]

State Farm Florida Insurance Company

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Customer Information Center

What our customers need to know:

• State Farm Florida has filed plans to discontinue its Florida property insurance product lines. The company takes this action only after persistent efforts to secure adequate rates and to insure financial stability. It is our responsibility to provide a sound financial framework for the coverages we provide.
• Here's what you need to know:
  • No Immediate Affect. State Farm Florida submitted plans to discontinue its property insurance lines over a two-year period, to limit disruptions for its customers, and if approved, will allow customers time to find coverage with other insurers. The plan requires regulatory review, and State Farm Florida will not be taking any action under the plan until the regulatory process is complete.
  • Products impacted. This decision includes insurance for homeowners, renters, rental condominium unit-owners, rental dwellings, condominium unit-owners, personal liability umbrella, boats, personal articles, apartments, business, church, commercial inland marine, commercial liability umbrella, contractors, manufactured home and premises/personal liability.
  • Products not impacted. Our Florida agents will continue to offer products through State Farm Mutual and its other affiliates, such as auto insurance, life insurance, health insurance and financial services products. State Farm Mutual and its other affiliates remain financially strong and are unaffected by the unique circumstances of the Florida property insurance market.

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[TheFalls]

wow....gotta be a ton of agents with resumes on monster or immediate plans to relocate.

 

[Fishhead]

Viking611 told me this was going to happen in Florida two years ago.

Not a shock

Viking611 may be one of the top 5 sharpest overall posters on this forum.

FH

 

[TheKinz]

wow....gotta be a ton of agents with resumes on monster or immediate plans to relocate.

we have 2 people we know who were "big shot" State Farm agents. Just built a new 1MM home and built his own office etc etc. We have had car and home with them for 18 years. I can guarantee I will pull my Auto when we switch homeowners. I would guess almost all the other close to 1 million insureds will do as well.

Heard a report that this was a ploy by State Farm as well to get their 47% rate hike approved...fuckers!

 

[KennyB]

Anyone in Florida that keeps paying them for auto insurance when they pulled out for homeowner insurance is an idiot. Fuck them.

 

[erwinmark]

How many f--------ng year do we have to pay for huricanes in Florida, I say f....k them also.

 

[Illini]

wow....gotta be a ton of agents with resumes on monster or immediate plans to relocate.

Doubt it. They'll still be able to write the #1 auto insurance in the country, and now they can write homeowners with lots of different companies. I see this as a plus for all the State Farm agents, because they're no longer captive to writing strictly State Farm property policies.

 

[Illini]

Viking611 told me this was going to happen in Florida two years ago.

Not a shock

Viking611 may be one of the top 5 sharpest overall posters on this forum.

FH

:lol: Don't you have to be sober to be sharp?

 

[TheFalls]

Quote:
<TABLE cellSpacing=0 cellPadding=6 width="100%" border=0><TBODY><TR><TD class=alt2 style="BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px inset">Originally Posted by The Falls
wow....gotta be a ton of agents with resumes on monster or immediate plans to relocate.

</TD></TR></TBODY></TABLE>
we have 2 people we know who were "big shot" State Farm agents. Just built a new 1MM home and built his own office etc etc. We have had car and home with them for 18 years. I can guarantee I will pull my Auto when we switch homeowners. I would guess almost all the other close to 1 million insureds will do as well.

Heard a report that this was a ploy by State Farm as well to get their 47% rate hike approved...fuckers!

Doubt it. They'll still be able to write the #1 auto insurance in the country, and now they can write homeowners with lots of different companies. I see this as a plus for all the State Farm agents, because they're no longer captive to writing strictly State Farm property policies.

Wait...so the STF agents will be able to write HO policies for other HO carriers? How would that work? Would you not have to be considered an "independent?"

Although I don't have a home, most peeps will bundle their car and HO policies into one carrier. So you may be right if they all go independent and keep their insureds...and I think that takes a little start up work. But with this environment, I would assume most would be willing to do that.


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[Illini]

Quote:
<TABLE cellSpacing=0 cellPadding=6 width="100%" border=0><TBODY><TR><TD class=alt2 style="BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px inset">Originally Posted by The Falls
wow....gotta be a ton of agents with resumes on monster or immediate plans to relocate.


</TD></TR></TBODY></TABLE>
we have 2 people we know who were "big shot" State Farm agents. Just built a new 1MM home and built his own office etc etc. We have had car and home with them for 18 years. I can guarantee I will pull my Auto when we switch homeowners. I would guess almost all the other close to 1 million insureds will do as well.

Heard a report that this was a ploy by State Farm as well to get their 47% rate hike approved...fuckers!



Wait...so the STF agents will be able to write HO policies for other HO carriers? How would that work? Would you not have to be considered an "independent?"

Although I don't have a home, most peeps will bundle their car and HO policies into one carrier. So you may be right if they all go independent and keep their insureds...and I think that takes a little start up work. But with this environment, I would assume most would be willing to do that.


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I don't know for a fact, but I would assume they'll be able to offer homeowners as an independent agent. Would be really stupid if SF didn't let them do that. It would be suicide, actually.

I know they can write health for Assurant right now. Why would SF not let a full service agency write homeowners insurance......a market that they will no longer be competing in?

 

[barman]

No Immediate "Affect"??

SFarm needs a more literate writing staff

 

[barman]

aint gonna last.

in the future if you dont sell homeowners you wont be able to sell auto here

Alot of companies havent been doing homeowners for 3 to 5 years since the first hurricanes. Liberty Mutual,Allstate,etc agents have all been fucked for a while. This is nothing new.

I've heard that some of the more desperate are pimping Girl Scout Cookies to fill in the revenue shortfalls

d1g1t