Insurance Exodus: AAA and Farmers Pull Out of Florida Amidst Worsening Storms
TL;DR
AAA will not renew a small percentage of homeowners and auto insurance policies in hurricane-prone Florida due to rising reinsurance rates following the devastating 2022 hurricane season. The affected policies are higher exposure package policies underwritten by Auto Club Insurance Company of Florida. This decision adds to the growing list of insurers limiting their exposure in the state, leading to concerns about rising home insurance costs and limited options for homeowners.
- After devastating 2022 hurricane season, AAA not renewing some insurance policies in Florida The Associated Press
- AAA pulls back from offering insurance in Florida, following Farmers CBS News
- Farmers Insurance Is Fleeing Florida and State CFO Is Blaming the Exit on 'Wokeness' MoneyWise
- Speaker Renner: Property insurance forecast brightened by legislative reforms | Commentary Orlando Sentinel
- Another Insurance Company Halts Florida Home Policies Amid Worsening Storms HuffPost
Want the full story? Read the original reporting
Read on The Associated Press