State Farm Goes Down Swinging

State Farm Moves to Eliminate Florida Discounts: State Farm Florida, which will soon stop writing new homeowners insurance in the state, is now asking the legislature's permission to remove all the discounts that its remaining policyholders receive, giving those people what amounts to a significant rate increase. Clients receive discounts for such things as having your car and home insured by the same carrier, alarm systems, new plumbing and electrical wiring, hail resistant roofing, and the like. Those discounts, when taken in total, can reduce one's premium by roughly one third.

State Sen. Mike Fasano, R-New Port Richey, called the filing an "outrageous" way of "going around the law" to raise premiums without a formal rate increase. "The insurance companies always seem to find a way to help themselves and neglect the homeowner," he said. [emphasis added]

A Missed Opportunity: Bernard Madoff's personal property is being meticulously cataloged by federal marshals in preparation of a coming auction of his goods. I never thought to apply for the job. Arrgghh.

The forfeiture order signed by federal Judge Denny Chin gave the U.S. government complete control over the $7.5-million apartment and the $3.5-million house in Montauk. (A $10-million Palm Beach home was surrendered earlier this year). Chin ordered the properties and everything inside, including clothing, fixtures, artwork, linens and sheets, surrendered to help pay victims of the estimated $65-billion Ponzi scheme.

Ohio Bucks the Trend (pun intended): My last blog entry noted that insurance rate increases were on the way primarily for coastal states. The Ohio Department of Insurance is saying that 2008 saw significant increases for homeowners insurance premiums. (Ohio has no coastline unless you count Lake Erie.) No word yet from Ohio on future premium trends.

Despite the increases last year, [Ohio Insurance Institute spokesperson Mary] Bonelli said, Ohio auto and homeowners insurance rates are still among the lowest in the country -- and the reason is competition. "There are 266 homeowner writers in the state and 613 auto writers," she said. "That's the third-highest number in both areas." [emphasis added]

Summer Protection Tips From NAHIP: The National Association of Home Inventory Professionals has some travel tips to keep your home safe while you are gone this summer. Here's an excerpt:

Don't place any online or mail orders that could possibly be delivered while you are gone. Packages left outside for days are a strong indicator that nobody is home. Ensure that your lawn is cut. A lawn in need of mowing is an obvious sign that a homeowner may be away on vacation. Those who mow their own lawn should consider hiring a lawn service if away for an extended period of time.

That's about all for today. I don't want to talk about the Gold Cup final just yet. Thanks for reading!

A. J. Farley runs Farley Home Services, a home inventory service for folks like you. Please visit EverySingleItem.com for more details.