On Jan. 27, 2009 State Farm Insurance announced that had filed plans to discontinue its property insurance lines in Florida. In a statement from Company President Jim Thompson, the plan includes insurance coverage 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.
State Farm Mutual Automobile Insurance Company (State Farm Mutual) and its affiliated companies will continue to provide automobile insurance, life insurance, health insurance and other financial products and services in Florida.
So Where Do You Go Now?
Of course if you own a vaction home or condo at the beach in South Walton County Florida, or any real estate At The Beach, you are going to need insurance and even though State Farm is no longer writing policies there are still companies that will. A company that we have recommended for a long time is Term Brokers Insurance. Term Brokers Insurance is an Independent Agency with over 18 years insurance experience and represent the highest ranked and most reliable "A rated admitted" insurance companies at the lowest rates in Florida.
Top 5 property insurers in Florida
Citizens Property*: 1.25-million
State Farm Florida: 1-million
Universal Property: 364,000
Allstate Floridian: 300,000
Nationwide: 205,000
* Run by the state
Source: Florida Office of Insurance Regulation
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