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Allstate Forcing You to Bundle
- Thread starter RJT Consulting
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This is in NC, did you read the article?
and so what, someo carriers already do this, such as Secura....
and so what, someo carriers already do this, such as Secura....
- Thread starter
- #3
- 140
Nope, didn't read it at all. Just thought I would randomly post irrelevant articles.
It was posted as an FYI especially given all of the other issues they've been implementing. There's an opportunity for NC agents.
It was posted as an FYI especially given all of the other issues they've been implementing. There's an opportunity for NC agents.
I hate that kind of article. Yeah Allstate is going a little stronger than other companies, but this is a North Carolina thing for EVERYONE. There is just selectivity in how they choose to report.Most companies are not doing mono HO anymore and there is going to be a rate increase across the board (or MOST companies, I can't say it is true for all.)
Due to all the claims that happened in NC and everything, there was a re-drawing of lines for hurricane/weather perils for reinsurance. Reinsurance rates went up a LOT, and NC just had really low homeowners rates in general. When I can write an HE7 homeowners policy (NC has 3 types of Homeowners available) with full RC for only 300-450/year, then you know that the rates are going to go up.
Travlers isn't doing monoline HO anymore, nor is Kemper, Safeco, Montgomery, and I think SF is doing CTR with some people, and I thin Nationwide is't going to do monolines anymore either. Most companies in NC are no longer offering monolines after 1/1/12. It just isn't feasible. Only the monoline companies like Progressive, GMAC, ASI, and Foremost are still existing and they have certain niches.
Still, it's going to be interesting for the next few months. Imagine rates increases across the board with pretty much every company, and trying to quote someone a new home. If your current homeowners doesn't renew until July, and I give you a quote that is only 40 bucks a year less or 40 MORE a year, it is hard to explain that you are doing well since this is a newer high rate and that you will have to expect a rate change in July. So this is going to be interesting...
Due to all the claims that happened in NC and everything, there was a re-drawing of lines for hurricane/weather perils for reinsurance. Reinsurance rates went up a LOT, and NC just had really low homeowners rates in general. When I can write an HE7 homeowners policy (NC has 3 types of Homeowners available) with full RC for only 300-450/year, then you know that the rates are going to go up.
Travlers isn't doing monoline HO anymore, nor is Kemper, Safeco, Montgomery, and I think SF is doing CTR with some people, and I thin Nationwide is't going to do monolines anymore either. Most companies in NC are no longer offering monolines after 1/1/12. It just isn't feasible. Only the monoline companies like Progressive, GMAC, ASI, and Foremost are still existing and they have certain niches.
Still, it's going to be interesting for the next few months. Imagine rates increases across the board with pretty much every company, and trying to quote someone a new home. If your current homeowners doesn't renew until July, and I give you a quote that is only 40 bucks a year less or 40 MORE a year, it is hard to explain that you are doing well since this is a newer high rate and that you will have to expect a rate change in July. So this is going to be interesting...
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agree with you on that one.
just had a old life and medicare customer call today for a few homes, multiple cars, boat, and motorcycle. all because Farm Bureau in NC told her that as of 01/12 that they wouldn't write monoline home anymore
of course with her too, it's cheaper to split everything up, but what a headache for me running quotes with 7 difft companies to figure out which was cheapest
just had a old life and medicare customer call today for a few homes, multiple cars, boat, and motorcycle. all because Farm Bureau in NC told her that as of 01/12 that they wouldn't write monoline home anymore
of course with her too, it's cheaper to split everything up, but what a headache for me running quotes with 7 difft companies to figure out which was cheapest
dmccrostie
New Member
- 17
Never thought I'd actually defend this company, but AS contracted with another HO company to provide a "soft landing" for the monoline HOI folks.
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