Farmers Exits Florida, Leaving Thousands Without Car Insurance Ahead Of Hurricane Season

Farmers Insurance is no longer willing to offer insurance in the state of Florida. The national insurer is withdrawing 100,000 policies in the state just in time for the arrival of hurricane season, including both home and automotive policies, as CNN reports. This is going to leave thousands of Florida drivers without auto insurance at a time when they may need it most, and force them to find policies elsewhere.

The state of Florida requires insurance agencies to notify policyholders 120 days prior to canceling their coverage, but there’s no word on how this all will affect ongoing claims. Farmers reportedly calls this a “business decision,” per CNN, adding that the company is trying to “manage its risk exposure in the hurricane-prone state.” A spokesperson went on to say the company’s smaller insurance subsidiaries, like Foremost Signature and Bristol West, will continue to sell auto insurance in Florida.

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But it’s funny how business decisions don’t apply to the company’s decision to start taking on premiums for Florida policies in the first place. But, I guess, if corporations are people, then they should be able to change their mind or rescind said “business decisions” en masse — whether or not it negatively affects thousands of customers who were holding up their end of the deal.