Insurance providers leave Florida, homeowners have 'no place to go' | USA TODAY

Florida homeowners pay more than three times the national average for home insurance, and residents fear that could increase as providers leave the state. RELATED: Weather events could impact your home insurance rates. Here's why. https://youtu.be/v7Uoro0Avo8 Another property insurer is dropping coverage in Florida. Farmers Insurance will stop writing new business and not renew its existing “Farmers-branded” automobile, home and umbrella policies in the Sunshine State, the company said Tuesday. On Monday, Farmers sent notice of its plans to the Florida Office of Insurance Regulation, which is reviewing it. Insurers must give the office 90 days' notice if they want to discontinue writing business in Florida. “This business decision was necessary to effectively manage risk exposure,” the company said in a statement. » Subscribe to USA TODAY: http://bit.ly/1xa3XAh » Watch more on this and other topics from USA TODAY: https://bit.ly/3rUm6H3 » USA TODAY delivers current local and national news, sports, entertainment, finance, technology, and more through award-winning journalism, photos, videos and VR. #Insurance #Florida #Home