State Farm dropping beach policies
An insurance company’s decision will mean some big changes for costal homeowners. WWAY has learned State Farm is dropping coverage for homes east of the Intracoastal Waterway.
State Farm says starting may first it will no longer renew policies for property on barrier islands up and down the coast. Policy holders will start getting notices in the mail in March. State Farm says the change will affect around 1,600 homeowners. The move is leaving many families with questions about how they will insure their homes.
“It would be hard to find someone else to insure if State Farm isn’t going to handle it,” Wrightsville Beach homeowner Debra Rallis said. “I don’t know who else will.”
State Farm’s plan also means cancelling many personal article property policies east of the Intracoastal Waterway. That’s insurance that covers items with special value like artwork and jewelry.
The Department of Insurance says it knows about State Farm’s plans, but a spokesperson says the department does not have the jurisdiction to keep the insurance company from making these changes.
WWAY has learned State Farm is dropping coverage for homes east of the Intracoastal Waterway.
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