ALERT: Who Holds Your Home Insurance Policy? Check Now... 50,000 Florida Homeowners Are Being Dropped By Their Home Insurance Company
And… With less than 2 weeks before the start of Hurricane Season…
The three insurers that recently filed their requests are: “Universal Insurance of North America”, “Gulfstream Property and Casualty”, and “Southern Fidelity Insurance”.
Two of the three companies have offices in the Tampa Bay area.
With state approval, these three Florida companies will drop home insurance policies for more than 50,000 homeowners just as hurricane season starts.
The state says the companies are trying to stay afloat financially
Now that the state approved these moves, the companies will send out early cancellations with 45-day notices and not renew other policies, affecting more than 50,000 customers in Florida.
Insurance experts said fraudulent roofing schemes and more hurricane claims are to blame.
The Florida Office of Insurance Regulation said homeowners impacted will get help finding new coverage. The state said they did not make this decision lightly, but the state said the cancellations let the companies stay in business and protect the public and policyholders.