November 30, 2010 – Florida – According to Miamiherald.com, State Farm, one of the nation’s leading home insurers, has been dropping homeowners insurance policies at an alarming rate in Florida. The article states that State Farm has been permitted to drop policies in exchange for not withdrawing from Florida altogether. The insurer’s decision is mainly based on the annual threat of hurricanes.
Although Florida has not seen a significant hurricane in several years, State Farm continues to face claims that were filed because of 2005’s Hurricane Wilma. Five years after that storm, the insurance company has paid out $1.3 billion in claims for damages from that hurricane.
Statistics from the Office of Insurance Regulation show that about 44,000 insurance policies (in Broward, Miami-Dade, and Monroe counties) were cancelled in the second quarter of 2010. According to State Farm spokesman Chris Neal, there are more cancellations to come. In all, the company has agreed to cancel 125,000 homeowners insurance policies in Florida.
If your homeowners insurance policy has been cancelled by State Farm, or if you have filed an insurance claim that has been denied, you can get help from a Florida homeowners insurance attorney. An experienced attorney may help you retain your homeowners insurance policy, as well as help you get the money that you deserve in a homeowners insurance claim.
Contacting a Florida Homeowners Insurance Attorney
The Florida homeowners insurance claims attorneys at Falk & Falk Law Firm know how important it is to you and your family to get the settlement you need in order to move on with your lives. Our homeowners insurance attorneys have experience in helping victims of hurricanes, theft, vandalism, fire, sinkholes and more to recover from their loss. An experienced attorney can help you to fight for the compensation that you need and navigate the tricky world of homeowners insurance in Florida. Contact us today – 305-742-0878.