Home Insurance Buyers Guide, LLC

The Florida homeowners insurance crisis has continued into 2008.

An industry that continues to enjoy record profits while continuing to push for outrageous rate increases…..

As discussed in this article, Property & Casualty insurers made a record $64 million in profits in 2006 and another record breaking year is underway in 2007.

Although you may not think you have much clout as a Florida homeowner, there is a lot you can do.

Private Florida homeowners insurance is scarce and hard to find, but it is out there. And it has never been more important for you to have it. Learn more about why private Florida homeowners insurance is so important.

While there is not an unlimited supply of private Florida homeowners insurance, you can find it if if you know where to look.

Use the Home Insurance Buyers Guide to find out the names of Florida homeowner insurance companies still writing new business in your county.

When you purchase the Home Insurance Buyers Guide, you will see how many companies are still writing new Florida home insurance business in your county. The Buyers Guide has on average, 19 companies writing new business in each county – some counties have a lot more, some have less.

Get involved during the Florida homeowners insurance crisis and let your legislators know how you feel about the poor availability of private homeowners insurance in your county. Tell them you want more choices for homeowners and to encourage the growth of the private market – 19 Florida homeowner insurance companies on average is not exactly an environment of consumer choice!

When you subscribe to the Home Insurance Buyers Guide, you get the opportunity to rate your satisfaction with your present Florida homeowner insurance company on a scale from 1-10 where 10 is delighted and 1 is highly dissatisfied.

Being able to rate your overall satisfaction is very important because Florida homeowner insurance consumers need a way to distinguish between those companies with fast and fair claim service from those who do a terrible job supporting their customer base.

When you rate your satisfaction with your Florida homeowners insurance company in the Home Insurance Buyers Guide, you are contributing to a database that will soon be available for all Florida homeowners – a rating system that goes far beyond what is available today. Once there is a reasonable sample of those insurance company satisfaction ratings, we will make them available to our subscriber base on a semi-annual basis – ratings that will help you figure out exactly which Florida homeowner insurance company you should give your business to.

Another step that you should take as a Florida homeowner during this crisis is to take your Florida car insurance business away from insurance companies that won’t cover your home. Why should you continue giving your car insurance business to a company that is continuing to cut back on Florida homeowner insurance offerings while enjoying huge profits from the auto insurance business?

There is nothing wrong with Florida homeowner insurance industry profits when they are accompanied by fast and fair claim service along with a long-term commitment to the Florida homeowners insurance market.

Hold this industry accountable by being an informed consumer and an aggressive shopper of Florida homeowners insurance.

The Home Insurance Buyers Guide can help you do this!

Florida State regulators had good news on Monday, October 29, 2007.

As reported in the Palm Beach Post article “Insurers can tap Citizens clientele” some Florida homeowner insurance customers of Citizen Property Insurance Corporation are going to be receiving an offer letter from one of four private insurance companies offering an chance for the homeowner to move from Citizens coverage to private sector coverage.

The four companies assuming these policies from Citizens Property Insurance are American Integrity Insurance Company, Landmark One Insurance Company, First Home Insurance Company, and Argus Fire and Casualty Company.

On the surface, that’s good news. The fewer policies in Citizens the better it will be for all of us in the long term. Most taxpayers should want this hurricane risk in the private sector.

However, in this article Bob Milligan, Florida’s insurance consumer advocate said: “homeowners must consider the financial health of the takeout companies.” – good advice for all of us coming on the heels of the failure of the Poe Financial Group.

We’ll it turns out that there is good reason to be concerned with the financial health of at least one of the four takeout companies in this latest announcement.

When the Poe Financial Group companies experienced significant losses in the 2004 hurricane season, it was AM Best that moved quickly to downgrade their financial ratings heading into 2005 – a year when hurricane Wilma claims delivered the final knockout punch to Poe’s cash reserves.

What did AM Best do near the end of 2004 with the Poe companies?

It downgraded the ratings of two of the Poe companies to a “C” rating. Before AM Best could do additional work and due dilligence, those two Poe companies became “non-rated” companies in the Best rating system at the request of the Poe Financial Group.

Why does the Poe history matter?

Because it turns out one of the four companies above participating in the take-out program has a current AM Best rating of “C minus” with negative implications! – an AM Best rating that is lower than the ratings the Poe Companies had before they ultimately failed!

Is one of these companies another Poe in the making?

Not necessarily.

But if you are a Florida homeowner insurance customer considering one of these takeout offers, you better check the financial ratings of these companies before accepting this takeout offer.

After you’ve done this research consider whether you want to move to one of these take out companies or whether you would like to find another Florida homeowners insurance company besides the companies being offered.

If you want to expand your options, The Home Insurance Buyers Guide can help!

When you use The Home Insurance Buyers Guide, you gain immediate access to the names of Florida homeowner insurance companies still writing new business in your county.

But you get something more.

You get a Buyers Guide Rating that helps you to further screen and prioritize two companies that might have the exact same AM Best or Demotech rating.

Our Buyers Guide rating is on a scale of “1-10″ and takes a clear position on each and every company in The Buyers Guide and take the financial ratings of each company one step further.

Finding private Florida homeowners insurance is still a good idea!

Use The Home Insurance Buyers Guide to find the best company in the shortest amount of time.

Learn more about Florida Homeowners Insurance and The Home Insurance Buyers Guide!

This week Allstate made its case for requesting Florida homeowner insurance rate increases ranging from 28 to 42%. An unpleasant followup to earlier rate filings that called for rate decreases ranging from 11 to 14%.

Allstate presented several arguments in their effort to try to get this rate increase approved as described by the Palm Beach Post:

First they pointed out that the parent company had to recapitalize the Florida subsidiaries after $725 million in losses following the 2004 hurricane losses.

So what? Why should we care? They set up these Florida pup subsidiaries to shield the parent from Florida hurricane losses and then they cry when they have to tap the parent for more money to pay up.

Allstate was also taking aim at a 19% profit. What? Who in Florida home insurance market is getting 19% to the bottom line?

When the State of Florida regulators asked more questions about the model they were told that the model was confidential and the trade secrets were owned by the modeling firm. In other words, the model is telling us we need a massive increase from Florida homeowner insurance consumers but we can’t tell you any details as to why.

Finally, the regulators pushed on Allstate and asked them why they couldn’t pay less than a 10% commission to their agents in order to cut back on the rate increase. I’m sure homeowner insurance agents in Florida loved that – at a time when they’ve been struggling to explain to thousands of dropped policyholders why they should still keep their car insurance with Allstate, they are being asked to take less.

As reported by Tom Zucco of the St. Petersburg Times, it took the state less than 24 hours to reject the rate increase.

What are your thoughts about a company that asked for a 42% rate increase when they were supposed to be turning in additional rate reductions?

It’s time for Florida homeowner insurance customers like you to stand up to the Florida homeowner insurance companies and send them a strong message.

Are you going to keep giving Allstate your car insurance business even if they are dumping your Florida homeowner insurance policy?

If you don’t think you have any options, its time for you to check out The Home Insurance Buyers Guide.

The Home Insurance Buyers Guide features the names of private Florida homeowner insurance companies still writing new business in your Florida county. Some of the companies in the guide have gone on the record saying that they will write new Florida homeowner insurance policies anywhere – including on the waterways.

Finding private Florida homeowners insurance has never been more important.

The Buyers Guide helps you decide which Florida homeowner insurance company you should select with its Buyers Guide rating – a rating on a scale of 1-10 for each company to help you narrow down the field. This makes a big difference in helping you select the companies you want to pursue – especially when each Florida homeowner insurance company financial rating is the same.

The Buyers Guide also lets you rate your satisfaction with your present Florida homeowner insurance company on a scale of 1-10. So when you use the Buyers Guide, its not only easier to find more private insurance company options, but you have a chance to get involved with the Florida homeowner insurance crisis.

Some Florida homeowner insurance consumers have immediately sent letters to their legislators when they’ve found out how few companies were actually writing new Florida home insurance business in their county.

The Home Insurance Buyers Guide will help you find affordable, private, Florida homeowners insurance quickly and easily.

Learn more about The Home Insurance Buyers Guide.

State Farm retracts report – Spokesman says talk of slashing 24,000 more policies untrue. Bradenton Herald – November 6, 2007

Get ready for more unwanted mail from State Farm starting on November 15, 2007.

That’s when notices will start going out for the 50.000 Florida home insurance policies State Farm intends to non-renew.

If you lose your homeowners insurance in Florida with State Farm, check out The Home Insurance Buyers Guide.

The Buyers Guide features the names of Florida homeowner insurance companies still writing new business in your Florida county.

Read more about the history of State Farm Florida, Allstate, and Nationwide and their recent history of non-renewals and cancellations.If you are trying to replace a policy cancelled by State Farm Florida, right now it is more important than ever for you to find private insurance.

And when you go to purchase new Florida homeowners insurance coverage, it is very important to find an insurance company with good ratings. The Home Insurance Buyers Guide includes a Buyers Guide rating for each and very Florida home insurance company in the Buyers Guide. Each Buyers Guide rating is on a scale from “1-10″ and gives you an easy way to compare each of the companies in the Buyers Guide against each other.

Learn more about how The Home Insurance Buyers Guide can save you thousands on homeowners insurance in Florida today!