Farmers Insurance Group stops selling new Florida homeowners’ policies

Farmers Insurance - No more home insurance

The insurer announced that it is no longer writing new policies just as the hurricane season started. The Atlantic Hurricane Season has only just started this month, but along with it has come the announcement that Farmers Insurance Group has decided to stop selling property policies in the state. The insurer’s existing customers will still be able to keep their coverage, but new policies won’t be sold. At this time of year, many homeowners are taking the time for a last moment scramble to make sure they have the coverage…

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Hurricane Ian leaves an estimated $17 billion in uninsured damages behind

Hurricane Ian - Damage to home from a hurricane

Initial estimates from the storm’s destruction are now being released, and much of it is not covered. Homeowners in Florida and other states along Hurricane Ian’s path could face uninsured losses as high as $17 billion due to flooding damage, according to new estimates released by CoreLogic. The estimates show that damages not covered by insurance will be between $10 billion and $17 billion. The uninsured losses from Hurricane Ian are expected to be nearly the same as what the covered losses are predicted to be, which is somewhere in…

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