AAA’s Decision to Drop Auto and Home Insurance Customers in Florida Spells Trouble for Policyholders

Home insurance - home and auto gone

Shortly after Farmers made a similar announcement, this insurer followed suit. AAA has announced that it will not be renewing auto and home insurance policies for some of its existing Florida customers, becoming the next in a growing list of insurers scaling back their business in the struggling state. Florida has been facing disasters in increasing frequency and severity, sending insurers fleeing. With the number of hurricanes and tropical storms leaving catastrophes behind in Florida, auto and home insurance companies in Florida are choosing not to renew policies for some…

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Farmers drops 100,000 auto and home insurance policies in Florida

Home insurance and auto insurance - files

The insurer has announced that it will no longer write new policies or renew existing coverage in the state. Farmers Insurance Group has announced that it will no longer be writing or renewing existing auto, umbrella or home insurance policies. This decision will impact about 100,000 customers across the state that is already facing a coverage crisis. The auto and home insurance company made its decision only one day after Florida Chief Financial Officer Jimmy Patronis threatened to take action against the insurer if it proceeded with its plan. Hearing…

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GEICO publishes tips for driving in heavy rain for Florida auto insurance customers

Driving in heavy rain - car driving in rain

Hurricane Elsa mainly spared the state, but heavy rain and high water still make roads dangerous. GEICO has published a list of tips for drivers in Florida and other states affected by hurricanes, to help them with driving in heavy rain while remaining safe. High water and flash flooding can rapidly become a high risk for people even when in their vehicles. Driving in heavy rain can be a daunting experience. When done improperly, it can also be a dangerous one. Ready.gov points out that it takes as little as…

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Report suggests Florida no fault auto insurance repeal would spike premiums

No fault auto - car accident - car damage

According to the Florida Office of Insurance Regulation, the average driver would have to pay over $200 more. A new analysis of the bill to repeal the Florida no fault auto insurance system has cautioned that drivers will have to pay considerably more money for coverage if it passes. If Governor DeSantis signs the bill, drivers will pay an average of $202 more, said the report. The report pointed to an analysis that showed that if the bill does pass, the no fault auto insurance repeal will cause the highest…

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No-fault auto insurance system debate returns to Florida House

No-fault auto insurance system - car crash

Replacement legislation would remove personal-injury protection in favor of bodily injury coverage. Once again, Florida’s no-fault auto insurance system has made its way back to the House and faces potential demise. This, despite concerns voiced by the industry suggesting that this move by the Legislature may not reduce premiums. Critics warn that removing the current system risks increasing health insurance rates and lawsuit numbers. Earlier this week, the House Insurance & Banking Subcommittee backed HB 771. That measure would replace the current mandatory components of the no-fault auto insurance system…

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