GUN State Farm to Drop Property Ins. in Florida

Discussion in 'On Topic' started by john in jax, Jan 28, 2009.

  1. john in jax

    john in jax New Member

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    If you own or rent in Florida you might as well start looking for other insurance/coverage. What does this have to do with WMD . . . well your firearms are or should be covered under your homeowners or renters policy.

    State Farm claims to have spent $1.21 for every $1.00 taken in. I just can't understand that and am calling BS until I see figures.

    I will allow that the housing boom of the past decade meant that houses and housing materials were sky high for too long. I will also concede that FL had huge losses in the 2004 hurricane season. BUT that was just one year! I and over a million Floridians have been paying +/-$1,500 per property per year for decades to State Farm. Even if State Farm took a horrendous hit in 2004 they had little activity in the years before and almost no activity since.

    Combine the above lack of weather events with falling home and home building/repair materials and State Farm should be doing just fine. I want to see real numbers showing loss(es) over the past 4 years.

    FWIW I've got a homeowners policy, a landlord/rental policy and 2 autos with State Farm if they cancel my property insurance they'll be loosing the auto policies too.
     
  2. jehan60188

    jehan60188 New Member

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    I can only wish that the average american (that's insured via state farm) can put down that greasy double cheeseburger long enough to pick up their iphone (which they bought on credit) to dial their insurance provider, and do the same thing
     
  3. 2L Bunny

    2L Bunny "It's only a Rabbit"

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    $1500? Am I that spoiled here? Or just that ignorant on costs.
     
  4. swedishstar

    swedishstar Active Member

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    I live in the town that they are referencing "2004." Hurricane Ivan.
    You wouldn't believe how expensive insurance is here. We pay 300/mo.
     
  5. 2L Bunny

    2L Bunny "It's only a Rabbit"

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    I could understand that in beach or low lying areas. But all of Florida? maybe that's right, why live there?
     
  6. 993kgt

    993kgt building an airplane whee

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    homeowners insurance does not cover guns, standard state farm policy only covers up to $2500 in personal articles in a house

    you have to take out a seperate policy, called a...you guessed it, personal articles policy

    $60,000 or more and the item needs an appraisal, otherwise they take your word for it
     
  7. 2L Bunny

    2L Bunny "It's only a Rabbit"

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    Shitty coverage. The AAA policy I'm setting up covers 108K in personal property.
     
  8. FusionZ06

    FusionZ06 /\__/\__/\__0>

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    werd bro
     
  9. T0nyGTSt

    T0nyGTSt New Member

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    $3,600 a year in home and contents insurance?

    jesus christ
     
  10. FusionZ06

    FusionZ06 /\__/\__/\__0>

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    That doesn't include flood or hurriance :rofl:
     
  11. swedishstar

    swedishstar Active Member

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    Personal articles does not encompass things such as furniture, right?

    That's part of the homeowners insurance? I don't pay much attn.
     
  12. LancerV

    LancerV Something Happened OT Supporter

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    ......................
     
  13. idleprocess

    idleprocess Bring a dollar with you baby in the cold cold grou

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    Can't say I feel too sorry for FL - it doesn't have much going for it in terms of homeowners' insurance...
    • Regular hurricanes
    • Low-lying areas
    • Swamplands
    • Sinkholes
    • Lots of old construction with little chance of surviving a natural disaster

    I feel the same way about all those cities along major rivers that flood regularly. Sucks for those folks, but history is littered with the ruins of towns and cities that nature had selected for eventual (or rapid) destruction via regularly repeating processes.
     
  14. footratfunkface

    footratfunkface New Member

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    We have State Farm in GA, and our homeowners' policy required a separate coverage for our firearms and NFA items.
     
  15. oakback

    oakback New Member

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    I heard this yesterday (I work for Citizens Property Insurance in FL). I called my local State Farm agent, and was fed some bullshit about them helping their customers to find coverage, but it's no happening yet, blah blah blah. I'm starting to shop around this afternoon.
     
  16. I have an addition to my homeowners that covers my firearms. The included coverage in the original policy doesn't cover much.
     
  17. john in jax

    john in jax New Member

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    We were able to up our personal articles protection enough to cover the few guns I do have. I don't own any NFA or "high dollar" guns so it really wasn't really that big a deal.

    You know, now you guys got me all paranoid and I'm going to have to go dig the policy out of the safe to see exactly how much coverage I've got and will be losing sometime in the next 2 years.
     
  18. SLED

    SLED build an idiot proof device and someone else will

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    On top of probably having their pricing all f'd up, I know that ins taxes and regulations in FL are a fucking bitch. I do work for a GL/Prop carrier (surplus lines, not standard like SF) and FL is such a PITA in every aspect. I wouldn't blame SF for getting the fuck out

    Pretty much every ins. carrier had TX property pricing all f'd up too. When the Ike storm hit, EVERYBODY lost their ass
     
  19. phoenixTX

    phoenixTX New Member

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    The regular homeowners policy will cover guns (at least with USAA :bigthumb:) but you're subject to the normal deductible if you make a claim. In Texas that's 1% of your home value, not sure about other states.

    I have a personal articles policy on my USAA homeowners policy to cover additional items such as computers and guns. I don't have any NFA items but a few ARs and a dozen handguns are worth me paying an extra couple bucks a month and the deductible is practically nothing.
     

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