My State Farm homeowners policy is not due, but I expect a serious cost increase.
This is awful news! Many people not far from me have had their HO insurance canceled by Nationwide already and are looking to SF. It is one of very very few that even offer HO to my high-fire-risk area.
And unfortunately that trend may continue for other states.
Thanks. Living in Cal, everything has become a challenge.
Apparently, Farmers is exiting Florida post haste.
That’s gonna make it super-tough for many Florida home owners. Even the ones who remain are probably planning some hefty premium increases. Yes, climate change does have real consequences even for the deniers.
I just got my renewal. It went up $400+/ year. But, State Farm may be the only company that offers insurance on my rural street. There are a couple things for which you may qualify to reduce your premiums- State Farm offers a Wildfire Mitigation discount your home may qualify for. Also, certain communities have achieved FireWise certificates. State Farm offers a small discount for that. Mine earned me a $24/year discount.
I just renewed some HO6 policies that we have on our properties in Florida and the premiums didnt change much. Its the non-owner occupied single-family properties on the beach that are going to see enormous premium increases.