Home Insurance // Notice of Non-Renewal

[SrC]

State Farm homeowners Ins. also sent me a letter. Denial of coverage. Effective immediately. They decided I was in a Flood zone. Im here 30 Years'. They Included a map in the letter that FEMA created.. I have no basement. Everyone else around me has a basement, below ground. My home and driveway is above grade here. There are homes way closer to Flushing bay here. It never flooded in the worst storms we ever got. Anywhere around here. Run off and sewage functions fine here . No one else said their policy was being canceled. I called State Farm and my broker, they sent me packing SOL. Got a cheaper policy from another company no issue. Then a year later State Farm sent me a letter wanting my business back. I called them and literally told them to go Screw. They just said sorry we want you back, I said I rather pay more to my current Ins company than deal with State Farm. Seems there was some class action suit against them. They were randomly doing this to other homeowners across the country.

 

[JPWSRC]

State Farm homeowners Ins. also sent me a letter. Denial of coverage. Effective immediately. They decided I was in a Flood zone. Im here 30 Years'. Included a map in the letter that FEMA created.. I have no basement. Everyone else around me has a basement, below ground. My home and driveway is above grade here. There are homes way closer to Flushing bay here. It never flooded in the worst storms we ever got. Anywhere around here. Run off and sewage functions fine here . No one else said their policy was being canceled. I called State Farm and my broker, they sent me packing SOL. Got a cheaper policy from another company no issue. Then a year later State Farm sent me a letter wanting my business back. I called them and literally told them to go Screw. They just said sorry we want you back, I said I rather pay more to my current Ins company than deal with State Farm. Seems there was some class action suit against them. They were randomly doing this to other homeowners across the country.

State Farm non renewed us nearly 15 years ago. I'll never use them for anything IMO.
Odd, homeowners doesn't cover flood related damages. Don't ask me why I know this...
Our property was remapped a dozen or so years ago. I bitched because my house hasn't ever been flooded in its 60 years of existence. It just seemed like a money grab scheme, another way to hit the common man, until we flooded in 2022. Sure glad we had flood insurance, but I know I don't I want to be here for the next one...

 

[Tex Koder]

Appreciate you guys for all the comments, feedback and insights on this matter.
It helps to know that I'm / we're not alone in this Fk-ed up situation..
We've never made a claim on our policy ,so for them to treat us like this.. With SO short of notice and during the Holidays.. is True BS!

Thank you for listening to me rant & whine and my frustrations.

I'll keep you all in the loop ,hopefully I'll get this figured out ,soon.

 

[jkflow]

This is happening to almost everyone here in California. I just lost our Farmers policy on a second home as they have pulled out of the state.
The real eye opener is seeing the cost of new insurance.
This crap will price a lot of people out of their home. Good luck!

Ask them if a home inspection would make a difference.
Upon my 'renewal' at ~ 6k and looking for other insurance they needed a $150 inspection. House hasn't had any changes in the last 10 years but cut my premium in half.
Still crazy high and ended up with citizens but would have never known prior.
Yes, that seems like a money grabbing scheme like they used to do on cars, need an 'inspection' where people don't even look at the car, luckily that was suspended.

 

[King blitz]

Just received a Notice Letter..

Wouldn't you know it..
Right Before Christmas too...

Non-Renewal Reason:
Reduction of high-hazard relative exposure to catastrophic events

No other details given.



What sort of "Catastrophic Events" are they expecting to happen..?
That they are not telling us??


Has anyone else Ever received such a letter before?

Do you live in New York,could be the surge of illegal aliens

 

[LipoShirly]

Sucks to get news like that anytime of the year, but right before Christmas is definitely a gut punch no one deserves.... If you look at the problem as a whole, then it unfortunately makes sense, more damage with higher costs to recover will eventually lead to exactly what we are seeing now.
This was quoted from a Dallas newspaper: "Since 2010 Texas has been hit by 94 weather events in which damages exceeded $1 billion, compared to just 60 such events over the previous three decades combined."
What I didn't realize is that insurance companies actually have insurance on their policies for bad years, written by reinsurers, and apparently those reinsurers have lost money for 5 straight years, and that looks to continue ... I think what angers me the most is this, something tells me that in those boardrooms at the highest level of any major insurance company, they're not talking about how to fix this so that customers don't get screwed, they're looking at annual profits and making money.... cooperate greed. I don't understand how anyone can justify salaries like this when the insurance industry is taking a beating.... I'm sure Michael Tipsord is not worried about his policy going up... (oh wait, I see Michael's salary went down by almost 100K, that must have hurt.....)

MSC

 

[Tex Koder]

...
This was quoted from a Dallas newspaper: "Since 2010 Texas has been hit by 94 weather events in which damages exceeded $1 billion, compared to just 60 such events over the previous three decades combined."

During That time the government officials and corporate leaders were telling us that Global Warming was NOT REAL...
And didn't do anything substantial to curb the negative effects ,other than giving us a bunch of lip services.

What I didn't realize is that insurance companies actually have insurance on their policies for bad years, written by reinsurers, and apparently those reinsurers have lost money for 5 straight years, and that looks to continue ... I think what angers me the most is this, something tells me that in those boardrooms at the highest level of any major insurance company, they're not talking about how to fix this so that customers don't get screwed, they're looking at annual profits and making money.... cooperate greed.

I don't understand how anyone can justify salaries like this when the insurance industry is taking a beating.... I'm sure Michael Tipsord is not worried about his policy going up... (oh wait, I see Michael's salary went down by almost 100K, that must have hurt.....)

MSC
View attachment 338131

The fact that these 10 individual CEOs probably contribute to MORE Hydrocarbon emissions and other populations to the environment by flying constantly in their Private corpo Jets, cruising on their Mega Yachts and chilling while Chauffeured in their Armoured Mercedes each month than ALL the rest of us combined for the whole year.

 

[Moirae]

It's crazy to me that insurance can just troll you. They been taking people money for years but now that there is a chance you might need them they give you the boot? Wtf .

 

[jkflow]

Might be surprising to must but there is only '1' true insurance company, all others are resellers like Farmers etc.
Loyd's of London is the true insurance company and there are some truly self-owned like citizens. Loyds can care less about politics, they only look at weather data and general risk.

 

[SrC]

The rates are super high in FL as only one example. Many Companies bailed out of FL.

>>>> It is not 100% ALL because of the Hurricane/ rain anomolies. What many would want us to believe. Has to do with all The Contractors who scam the Insurance Co. claims there. All because FL has some Bad Insurance rules or lack of Laws to protect the homeowners and Companies. A contractor comes to do the work and inflates everything, labor materials and all. No checks and balances. Been that way for many years. FL is not actually the worst state for Disasters. Fact.
And FL actually has a great disaster recovery system in place, ability wise in reality. The FL State legislature has recently adressed some of those regulatory Ins laws statutes. Thanks to Ronny.

 

[Sandracer_NL]

We got such a letter about a year ago at work for one of the insurances.
After contact it was a letter that they had to issue because they only would insure for a substantially higher fee due to higher incurred claims and expected higher claims in the future AND with (substantial) changes in Terms and Conditions (pay more for less ).

 

[SrC]

^^^ That is way different than telling you to pound cement and get insurance elsewhere, effective immediately, after they periodically Underwrite your policy, and determine that they are done with insuring you, period.

 

[cazrack]

Do you live in a common natural disater place or has it been been quiet within 70 miles from home?

 

[Tex Koder]

Do you live in a common natural disater place or has it been been quiet within 70 miles from home?

It's been quiet here.

No tornados, floods/tsunamis, or earthquakes

 

[Sirkensirlot]

Might be surprising to must but there is only '1' true insurance company, all others are resellers like Farmers etc.
Loyd's of London is the true insurance company and there are some truly self-owned like citizens. Loyds can care less about politics, they only look at weather data and general risk.

loyds insure everything ( cruise shiping freight shiping airlines you name it )

 

[Tex Koder]

loyds insure everything ( cruise shiping freight shiping airlines you name it )

They're like the Bank of Braavos in GoT.