Some Floridians’ Progressive insurance policies won’t be renewed

ST. PETERSBURG, Fla. — If you’re a homeowner in Florida and have insurance with Progressive – listen up. 

The company confirmed to 10 Tampa Bay on Saturday afternoon it has decided to not renew insurance policies for some homeowners in the state due to certain changes. 

Progressive said they have been working with state officials and the Florida Office of Insurance Regulation to make the recent decision that will allow the company to continue servicing homeowners in the Sunshine State. 

“Florida property remains an important part of our Progressive Home business, and we have no plans to leave the state,” the company spokesperson said in a statement. “While we know these changes are not welcome news for those that are directly affected, we’re encouraged by and grateful for the work of Florida state officials who recently helped enact needed legislative reforms that are stabilizing the insurance business environment and encouraging new carriers to enter the market.”

Progressive also confirmed they have no plans to leave Florida and will continue to do business in the state. 

For homeowners who will be affected by this decision, Progressive said they have agreed with Loggerhead Reciprocal Interinsurance Exchange to serve as a replacement policy if people qualify under its financial and underwriting standards. 

“The actions we’re taking are necessary to ensure that we can continue to write business in Florida in a meaningful way—and we expect these actions will better position us to build a stronger, more stable, and more competitive Progressive Home business for consumers and independent agents in the long run,” the statement reads. 

Progressive has not yet said when the new changes will go into effect. Regardless, homeowners who have insurance with Progressive are urged to check in on their policy status.

Also this month, Citizens Property Insurance has mailed letters to more than 300,000 policyholders telling them they’ve been offered to switch to another insurer, and they need to make a decision quickly or Citizens will make the decision for them.

Citizens Property Insurance was approaching a record number of policies and is looking to sell some off to limit its risk exposure. While they say private insurers, like a new one named Slide that’s buying up some policies in the Tampa Bay area that could offer better coverage, the premium costs are taking some by surprise.

And in July, Farmers Insurance Group confirmed they will be leaving Florida along with its auto, home and umbrella policies amid the state’s ongoing property insurance crisis.

10 Tampa Bay’s Aaron Parseghian contributed to this report.