Nationwide Insurance announced last week that they are dropping 60,000 homeowners insurance policies across the state. This leave them with just over 200,000 policies.
The move follows the announcement by State Farm earlier in the year that they would not be renewing any of their homeowners policies in Florida, and would not be writing new homeowners policies altogether. This is disheartening news to anyone who lives in Florida, or someone who is considering retirement in Florida.
Its been several years since the last bad hurricane hit Florida, but in all truth, Florida’s insurance market has not recovered from the 2004 season.
Depending on where you live in Florida, getting insurance can range from not too bad to darn near impossible. Obviously those areas away from the coasts of Florida will have the best luck finding insurance.
