Get ready for more insurance madness. Progressive is ‘rebalancing’ in Florida by non-renewing 103,000 home policies.
WINK Investigative Reporter Andryanna Sheppard has looked into its operations and found that 60,000 home policies were quietly non-renewed across the state in 2022. According to the Insurance Information Institute, most were primarily due to roof age before the state regulation was changed.
Progressive has also stopped writing new home businesses in 2022 across all Florida counties. The Insurance Information Institute told WINK News that Progressive’s underwriting results in 2022 were one of the worst of any insurer operating in Florida. They were paying out $2.17 in claims for every dollar of premium collected.
This comes only a couple of months after AAA said it was not renewing policies and Farmers Insurance completely pulled it’s branded home and auto lines from the state
WINK Investigations reached out to Progressive for comment.
