Where To Buy Hard To Find Insurance Policies

Insurance Company Exodus
More insurance companies are pulling out of certain states. In this case, State Farm, one of the biggest insurance companies in the country, has pulled out of the state of California. They’re canceling policies, non-renewing policies, and not making offerings for even homeowners.

What to Do if You Have a State Farm Policy
If you have a State Farm policy, you want to make sure you keep it up-to-date because they’re not renewing policies if you don’t pay your bill. Sometimes, they’re even flat-canceling if you don’t have a grandfathered-in insurance policy.

Exploring Your Options
If you do have a home insured with State Farm or any carrier, start to get some other quotes to know what your options are. That way, if your carrier does not renew you or doesn’t offer you coverage, at least you know what’s out there, what your options are, or if your current policy goes up significantly.

The importance of shopping around
Let’s say more than 20%—you want to shop around because there may be some markets that have a better appetite for your particular property. Insurance is no joke anymore. It used to be that you could just call up an agent and get insurance—no big deal. Now, even in inland states, companies are pulling out, rates are going up, and they’re putting a lot of requirements on your underwriting before they even give you a quote or write you a policy.

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