[Ernie]

Heard a blurb on the radio this morning that said State Farm will NOT be accepting any new business after a certain date and will only be making changes for existing clients.

did anybody catch the cutoff date?

for those of you that were thinking of switching the motorcycle insurance over to State Farm you better hurry up!

 

[RSV4win]

I heard that was for Home owners Ins.
I am plan on calling my agent today about something else, and i can ask about this.

 

[Champ91]

I called State Farm last week to get a quote. Turns out they beat my current insurance on the cars for a total of $60. Lost on the bike by $60 and lost on the house by $150. Said the reason was they could not give me the discounts due to me being a new policy with them. But they didn't mention anything about not accepting new clients.

 

[BusaDave]

Heard a blurb on the radio this morning that said State Farm will NOT be accepting any new business after a certain date and will only be making changes for existing clients.

did anybody catch the cutoff date?

for those of you that were thinking of switching the motorcycle insurance over to State Farm you better hurry up!

Last I heard from my agent was no new business from people with claims in the last 3 years.

 

[KBOlsen]

It was on the news last night.... State Farm is putting a cap on its homeowners business in Illinois.

 

[HDTony]

I really thnk a lot of this still dates back to Sept 11. They took a lot of losses that day. The payouts were out astronomical. Give it some time and they will get back on thier feet. Not to mention that insurance companies put a lot of thier money in the market, and if thier portfolio looks anything like mine, then it's completly understandable.

 

[Meulen]

I really thnk a lot of this still dates back to Sept 11. They took a lot of losses that day. The payouts were out astronomical. Give it some time and they will get back on thier feet.

I hope so...but the industry is blaming it on an abundance of claims on homeowners in the Midwest. That's why they are skrewing with everyones homeowners in Illinois. State farm really didn't have much exposure to the losses of 9/11. I think there's a story in the Tribune about it this morning.

 

[HDTony]

I hope so...but the industry is blaming it on an abundance of claims on homeowners in the Midwest. That's why they are skrewing with everyones homeowners in Illinois. State farm really didn't have much exposure to the losses of 9/11. I think there's a story in the Tribune about it this morning.

That is strange. i cant see what dramitic thing happened in teh midwest. Except for some flooding last summer on the mississppi, and fuck them they shouldnt live there anyways. it floods every year.

 

[YZFRob]

generally your homeowners insurance doesnt cover flood. Thats normally another policy all together. I do know a few SF agents who refuse to insure sportbikes even though SF does. I asked my agent about this and he said it varies from state to state and agent to agent about not accepting new policies.

 

[Norseman82]

That is strange. i cant see what dramitic thing happened in teh midwest.

Insurance companies are regulated on a state-by-state basis. It may be because IL DOI does not have as strict pro-consumer regulations as say CA or KS, SF is using IL as a way of making up for the losses elsewhere.