FEDNAT cancelling LA policies July 1st

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Your current insurer, FedNat Insurance Company, was downgraded in its Demotech Financial Stability Rating and doesn't have adequate reinsurance coverage for the 2022 hurricane season. The Louisiana Department of Insurance has approved the cancellation of your FedNat policy effective July 1, 2022, at 12:01 a.m. local time.

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As an agent who has told countless potential customers not to go with Federated National because they were shite and wouldn't be around long and was just told that I was just trying to make a quick sale, I can't help but sit here like this now...




Here's the only advice worth following when it comes to homeowners insurance companies in Louisiana --- NEVER trust a Demotech rated company for your homeowners insurance needs. Never.

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Well, any recommendations on who I should trust for my insurance needs?

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Maybe a fellow LSU fan in this thread? At least it is a start.

Safeco, ASI/Progressive, Farm Bureau, USAA, State Farm (yes, even State Farm). State Farm has its issues but at the end of the day, as long as you know what is a legit claim and what isn't a legit claim, you'll be satisfied. They're just high as giraffe pussy, that's all. I've heard tons of horror stories about State Farm over the past 5-7 years and some of them do sound legitimate but it's always difficult to know the entire story with those. I do know this -- my dad still has State Farm and has for 45 years. Every single claim he has he gets paid more than he should with zero issues. My brother has State Farm and they refuse to pay for his roof after Ida when most others in the neighborhood are getting new roofs. I've told him what to look for and what to point out to the adjuster multiple times and he just won't do it, though. You gotta know what you're looking for and make the adjuster say "no" while proving why it's a "no" with State Farm. They're under new leadership and are not the same State Farm that daddy or gramps had.

If you qualify for USAA, don't even look elsewhere, pay whatever they ask you to pay and never look back. You won't be disappointed at claim time.

Safeco and ASI are both decent - not great but not terrible either. I've heard good things about Shelter as well. Bottom line is this: any company rated by AM Best is going to have a reputation to uphold and will treat you according to the law and your policy. Know your policy, know what's covered and isn't covered, and you'll be ok. Just never go with any company rated by Demotech because they will leave you with your pants down at some point.

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its been nearly nothing but demotech rated companies writign business in this area.

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Well yea, unfortunately that is the case in a lot of the southern parts of the state. In those cases you don't have much of a choice. They should just know what to expect and how to make a claim. What you say and what you don't say at claim time is crucial. I'd give examples but I have 50 licenses to uphold

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but I think Im ready to cut my losses and move to a more stable company.

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unless you get with a liberty mutual or something... it ain't the time to think you have the ability to be picky about your options. and this is me not knowing any specifics of underwriting criteria of your home. progressive/asi stopped writing in the state right now.

This is what SURE is proposing for me. Suppose I were to go with USAA or one of the higher rated companies, how much more should I expect to pay? I do qualify for USAA.

It would be a good bit more expensive, I know that. A lot depends on the age of your home and what the home is constructed with, too. I live in a brick home on a slab. It's 45-50 years old, though. My coverage is $286,000 dwelling, $142,500 contents replacement cost, $42,750 other structures, $300k liability, unlimited loss of use, and $5,000 medpay along with a 1% all perils deductible (wind/hail and other perils) and I pay $2,433.73/year. If my home was newer, I'd pay less. Older home = more of a chance of fire.

Yes, I'm insured with USAA. I'm an agent, though I haven't been in the P&C world for three years but I still know enough to know that I can trust USAA.

I honestly have never even heard of Allied Trust

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Tds don’t know crap.

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I know enough that I've never been fricked by an insurance company. That's good enough for me. He can choose to take me seriously or not. It's not my home and my assets at risk so I don't care.

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Where does Allied Trust rank on the list of trusted companies?


Like one of the only left standing at this time

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I have no dog in this fight. I'm not trying to weirdly defend what I do for a living by trying to act like these piece of shite no-name companies that come in and leave faster than the hurricanes themselves are some great, quality option. I know enough to know I wouldn't insure my home with a demotech-rated company if I didn't absolutely have to. Maybe the op has to due to where he lives, I don't know. If he has the option to go with another company, I would highly recommend that he does. Sorry I hit a nerve with you.