Orlando Homeowners Insurance For Non-Renewed Orlando Homeowners

With so many captive carriers like State Farm and Nationwide non-renewing close to 200,000 policyholders in FL, where is the best place for Orlando policyholders to place their coverage?  Most all of these companies have found safe haven with the independent agencies like Southern Insurance Group.

First, let’s understand why these non-renewals are taking place in FL. Since the 2004 hurricanes, the captive insurance companies like State Farm, Allstate, Nationwide, and Farm Bureau have suffered major losses and as a result have had to restrict or stop writing homeowner insurance in Central FL.

In addition to the massive hurricane losses, the cost of hurricane reinsurance has escalated greatly. To cause further insult to injury, the insurance commissioner has not allowed insurance carriers to file for rate increases to offset their losses. Because of this perfect storm of challenges, quite a few of the major providers of insurance have had to non-renew large portions of their books of business.

What is the difference between captive and independent agencies? Hint: Southern Is Orlando's Homeowners Independent Agent

In a word, choices. Captive agencies usually write through only one carrier which is their own brand. On the other hand, Independent agencies like Southern Insurance Group, write through over 30 companies which are typically all the best carriers that offer insurance throughout the marketplace. Because of this reason there is usually a huge competitive advantage as different carriers specialize in different risks.

A captive that offers the one carrier very seldom has the availability to be competitive in all areas of the homeowner market. Ex. If a home is plus a 1000 feet from a hydrant or fire station, or you own a trampoline, diving board, pit-bull, livestock, in a flood zone etc… Whatever the risk is the independent agent can shop the carrier who specializes in your situation. The coverage’s and rates are usually always better as a result.

What else does an independent agency insure?

Independents have a unique opportunity of securing the best contracts or carriers for your home, rental home, renter’s, auto, life, health, group health, dental, disability income, long term care, business auto, commercial property, workers comp, GL, indexed annuities to name a few. Please give Southern Insurance Group a call today for your detailed comparison.

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