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Updated: 10:47 AM Sep 12, 2008
State Farm
98-thousand State Farm customers will receive refunds or credits after regulators called the insurer on the carpet for not discounting policies for people who hurricane proofed their homes. The news has other insurance companies checking to see if they owe their policyholders a discount. Posted: 3:28 PM Sep 10, 2008Reporter: Whitney Ray  State Farm Refunds |
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4 Comments 
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State Farm is trying to extort a rate increase. If they cancel homeowners ins cancel all other coverage immediately
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State Farm just needs to leave the state of Florida if they do not want to cover home owners. My husband and I have stopped our lives to go temporarily care for a sick relative in another state. I did a change of address \ to State Farm so I could get any correspondence and bills
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I have read many articles on the so-called $120,000,000 that State Farm Florida will be repaying its customers in Florida. In particular, it is disturbing how the articles, such as the one posted on Forbes.com, which reports the following: "State Farm Florida spokesman Justin Glover said the company discovered the problem, reported it to regulators and agreed to the refunds and credits. "It's a complex process," Glover said. "We view it as working together." It is interesting how State Farm Florida tries to make it seem like they did a review on their own, especially in light of the fact that a class action lawsuit was filed in February in Broward County, Florida Circuit Court titled "Serchay v. State Farm Florida Insurance Company". A review of the Complaint may lead to the discovery that this supposed $120,000,000 is likely only a drop in the bucket as to what State Farm Florida owes Florida State Farm Insureds. Could it be a lot more?? Millions more that is owed to Floridia
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If State Farm has $121 million to pay out, then why are they cancelling policies for living within a mile from a "lagoon"? They started cancelling policies of people that lived within a mile from the gulf and now they are cancelling policies for people that live within a mile from any open water. It goes to show you that being a 25 year customer with no claims gets you nowhere. Although we will probably get a refund or credit for hurricane proofing our home, it still sucks to know your policy is being cancelled.
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