{"id":7419,"date":"2023-07-14T15:44:23","date_gmt":"2023-07-14T20:44:23","guid":{"rendered":"https:\/\/www.aipflorida.com\/?p=7419"},"modified":"2023-07-14T15:44:23","modified_gmt":"2023-07-14T20:44:23","slug":"farmers","status":"publish","type":"post","link":"https:\/\/www.aipflorida.com\/es\/blog\/farmers\/","title":{"rendered":"‘Prepare don’t panic’: Agent tells Farmers’ policyholders in Florida"},"content":{"rendered":"

ORLANDO, Fl. \u2014 Farmers Insurance announced this week that its\u00a0pulling out of the state<\/a>, which may be leaving some policyholders with questions<\/p>\n

What You Need To Know<\/b><\/h4>\n
    \n
  • Farmers Insurance calling\u00a0the move to pull out of Florida\u00a0a \u201cnecessary\u201d business decision.<\/li>\n
  • Policyholders are expected to be notified about when their coverage will end.<\/li>\n
  • An Orlando insurance agent says it’s time to prepare, not panic.<\/li>\n<\/ul>\n

    Farmers Insurance called the move a \u201cnecessary\u201d business decision because catastrophe costs\u00a0are\u00a0at \u2018historically high levels\u2019 and reconstruction costs continue to climb.<\/p>\n

    A Farmers Insurance spokesperson says this decision to drop Florida will only impact Farmers-branded policies including auto, home and umbrella policies. Umbrella policies include personal liability insurance that provides more coverage beyond what auto and home provide.<\/p>\n

    Policyholders are expected to be notified about when their coverage will end.<\/p>\n

    Spectrum News spoke with an expert who says\u00a0Florida is going through a lot lately on the insurance market, so it\u2019s time to prepare.<\/p>\n

    \u201cPeople don\u2019t need to panic,\u201d said Ana Regina Myrrha, agency principal at American Insurance Point. \u201cPeople need to start looking at: is my house updated? How old is my air conditioning? How old is my water heater? How old is the electrical panel because they will not be cancelled during the hurricane season.\u201d<\/p>\n

    Myrrha said the main message is to be prepared, so when you get the non-renewal notice, you can shop around.<\/p>\n

    The Office Of Insurance Regulation, specifically Insurance Commissioner Michael Yaworsky, wrote a letter to Farmers Insurance in response to the announcement that will impact nearly 30% of policyholders in the state.<\/p>\n

    The letter says they\u2019re\u00a0\u201cdisappointed by the hastiness,\u201d in the decision and \u201ctroubled by how this decision may have cascading impacts to policyholders.\u201d<\/p>\n

    Spectrum News asked Farmers Insurance for a response, they have no comment.<\/p>\n

    Myrrha said she\u2019s hopeful when these non-renewals come through, there will be a more flexible insurance market.<\/p>\n

    She said right now, they\u2019re not seeing higher premiums, but that may fluctuate in the future.<\/p>\n

    Myrrha says the non-renewals should start late December or early January.<\/p>\n

     <\/p>\n

    BY\u00a0MARIA SERRANO\u00a0<\/span>ORLANDO<\/span><\/div>\n
    PUBLISHED 5:30 PM ET JUL. 12, 2023<\/span><\/div>\n
    <\/div>\n
    https:\/\/www.mynews13.com\/fl\/orlando\/news\/2023\/07\/12\/-prepare-don-t-panic—orlando-insurance-agent-guides-farmers-insurance-policyholders-after-company-says-they-ll-drop-florida-policies<\/div>\n
    <\/div>\n
    <\/div>\n","protected":false},"excerpt":{"rendered":"

    ORLANDO, Fl. \u2014 Farmers Insurance announced this week that its\u00a0pulling out of the state, which may be leaving some policyholders […]<\/p>\n","protected":false},"author":116,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":null,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_analytify_skip_tracking":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7419","post","type-post","status-publish","format-standard","hentry","category-blog"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.aipflorida.com\/es\/wp-json\/wp\/v2\/posts\/7419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aipflorida.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.aipflorida.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.aipflorida.com\/es\/wp-json\/wp\/v2\/users\/116"}],"replies":[{"embeddable":true,"href":"https:\/\/www.aipflorida.com\/es\/wp-json\/wp\/v2\/comments?post=7419"}],"version-history":[{"count":0,"href":"https:\/\/www.aipflorida.com\/es\/wp-json\/wp\/v2\/posts\/7419\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.aipflorida.com\/es\/wp-json\/wp\/v2\/media?parent=7419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.aipflorida.com\/es\/wp-json\/wp\/v2\/categories?post=7419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.aipflorida.com\/es\/wp-json\/wp\/v2\/tags?post=7419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}