MAY 2011 - Liberty Mutual DROPS homeowner policies in FLORIDA

[newyorker24]

Originally Posted by Irishiis49

If they stop writing home policies they should not be allowed to write auto policies!

Agreed.

[vaughanwilliams]

Originally Posted by Obfuscated

May 1st, 2011: Receive a letter today from Liberty Mutual Florida stating that we are being DROPPED - our home owners insurance policy has been cancelled - as of our forthcoming renewal date of Nov 2011.

I've been with Liberty Mutual of Florida for 15 years; from my first townhome, then converted to an apartment/fire policy, then converted to a homeowners policy .. now that I have a wife and 2 young children to protect in this regard.


In all of the 15 years, I have not once submitted a claim. I have, however, dealt with their oftentimes very significant increases in policy premiums; especially over the last 5 years.


What an absolute shame and disgrace, Liberty Mutual. The letter offers their "apology for any inconvenience". Inconvenience? What an understatement. .

Yep-I just got my letter. I'll be dropping my auto insurance I have with them tomorrow.

[Obfuscated]

Originally Posted by crazynip

Our new governor king scott is about to sign a new insurance law that will allow more stuff like this to continue...

Yes; I've heard the same comment about that idiot as well. First, he declines the high-speed rail system to Orlando ... and now he's apparently planning to SHUT DOWN smaller-but-stable insurance companies who otherwise provide affordable coverage for millions of Floridians. If it gets passed, we'll have no choice but to pay 2x the current rates of these smaller companies, just to have basic coverage.

While this is not my industry, it seems to be there's an opportunity for other "types" of insurance which merely ensures replacement reimbursement of a specific monetary value (eg: belongings, etc). Honestly said, when you review the 50 pages of coverage disclaimers, one is left in wonder as to exactly what they would receive in the event of significant damage. My favorite example is WATER DAMAGE - it's covered UNLESS the water was introduced via wind into the home. Scam artists at best.

[Tampaite]

Originally Posted by Obfuscated

I've been with Liberty Mutual of Florida for 15 years; from my first townhome, then converted to an apartment/fire policy, then converted to a homeowners policy .. now that I have a wife and 2 young children to protect in this regard.
.

Sorry to hear that. Try ASI

Yep. you would have paid into the policy several thousands of dollars over 15 year period and now nothing to gain from it.

[Oegat]

I too have just been cancelled by Liberty Mutual. This is the 3rd company in 15 years and I never had a claim. Since my home is paid for and fairly new, I am not going to replace it. If I saved all I paid out, I'd be a millionaire. I am tired of paying for others foolishness and insurance companies bottom line. Oegat Hillsborough County Florida

[SLCPUNK]

Originally Posted by rezfreak

If you're gov't, go with USAA.

USAA is not writing any new policies in Florida. If you currently have it you can keep it, but if you move to another house, then forget it.

[Dee74]

After 26 years with Nationwide, they too canceled us 6 years ago. Since then we have had 5 insurance companies, even after all the inspections to reduce rates they just hit us with an $1100 increase to $3200 and added sinkhole coverage we do not want or need, but cannot remove.

Then just this week our flood policy for 250k on structure and 100k contents for $2300 we just got a an "updated" declarations page. Upon heavy reading they reduced coverage to 190K on structure/contents 80 and no reduction in premium.

The only major claim we ever had (contractor induced) we had to get a lawyer and fight 2 years in court to get paid 70% of our loss. They are a scam! We are considering paying it off and going bare. We tried to get a reduced coverage for the amount of balance of loan and clean up of lot in event a total loss, they won't sell it to you, period.