Thursday, February 15, 2007


I read this morning that State Farm insurance is not going to write anymore new home policies in Mississippi. From what I read, several other insured have already stopped. They say that it is because it is not feasible for them. I can understand. After all they are in the business of making money and if they have to pay out billions of dollars every few years because of hurricanes, where is the money?  I imagine that insurance is a lot higher in those areas that are prone to hurricanes. I suppose that is part of the price you pay if you live in one of those areas. I know we pay higher because we live in an area prone to tornados.
I don't like that they won't write new policies but that is their business. Personally I don't like State Farm anyway. My problem is that the state of Florida has passed a law FORBIDDING insures (insurance companies) from leaving the state. That is wrong. If a business no longer wants to do business there it should be able to stop. No state should have the right to force a business to continue doing business there. An insurance company is a business and like any business it should have the right to decide if it wants to continue doing business in a state.
I know there are some that will say that what business is it of yours? It will never affect you anyway. Yes it does. Number 1 I do live in a coastal state, we do get hit by hurricanes, tornados and floods and we are one of the states affected Number 2, I pay for homeowners insurance and it affects my rates.
I don't know. Maybe I am wrong. Maybe businesses should be forced to remain in business. Maybe they should be forced to write new policies. I can see the policy now, insured 1 house only covered if it falls down from old age because we cannot afford to insure again wind, rain, fire and vandalism. Acts of God are not covered, nor those of the devil.

Click here to read the article


  1. I think the gov't should have options for people who cant get their own insurance. I am not saying give it to them for free, but the people in Mississippi need insurance just like me.

  2. I forgot to ad, you are right not to like State Farm, as far as insurance goes, they arent 'your friendly' neighbor!

  3. Here in California the insurance companies don't offer earthquake insurance. If I am to get earthquake coverage I have to get it through a special program that was developed by our government.  And then, the deductible is so high.  It's 20% of what the property is valued at.  For me that would be about $120K I'd have to pay out before they'd take over.  Nobody I know has it because of this.  We pray for no earthquakes.
    Have a good day.

  4. Rules, laws, and regulations can be good but sometime there are too many of them. we just had to sign a paper that we don't own certain breeds of dogs. Paula

  5. insurance is a business just like anything else. If a business can't make money why would they stay? if it was my business I couldn't afford to stay. I live in MS but I have nation wide home insurance. I don't live on the coast, but in central MS. I don't know what the solution to this problem is. I still don't think the government should have the say so if they stay or go. Business is business.

  6. there is alot more to that legislation then meets the companies were SCREWING with the residents of florida...those that had beautiful homes closer to the coastline got screwed over by insurance companies saying that the owners were at fault living so close to the coastline...HMMMMMM seems to me that the insurance company knew that when they insured the homeowner...there are people here still settling claims when hurricane andrew hit back in 89.....people here pay more then the majority of states because this state is a sucker for hurricanes...we seem to attract them on a regular basis. BUT once a hurricane hits the insurance companies take off leaving residents stranded...they try to find a way out of paying off the homeowners....the legislation was brought on by the people of florida....some homeowners never made a claim in their lifetime living here...and when a hurricane hit and they finally had to put in a claim because nothing was left for them...the insurance companies would not pay....this happened with several companies...state farm being the WORSE. I realize that rates may go up...MINE HAVE less then a year and will be going up again...
    Just my two cents


Comments are welcomed, spam is not tolerated,