Allstate

[NitroZ7]

Stock is down 8% after hours. Losses estimated at 763 million for the quarter after re-insurance kicks in. They have 2.6% market share in Florida and most of it is personal property and auto coverage. Insurance is going to go through the roof down here. My co-worker just got her insurance renewal and it went from $3,000.00 last year to $5,200.00. Another person in Parkland has a home worth about $1,000,000.00. He said he was cancelled this year because his roof was older and the only company that agreed to provide him insurance quoted him $37,000.00 a year. I can't see this being good for the real estate market here.

[TampaJim]

I can't see this being good for the real estate market here.

It's not going to hurt it as much as folks think. There seems to be a deep sea of cash coming into the state.
Reminds me of casinos ... you will lose, period. But the dang things are packed with people fighting to do it.
We will continue to grow, just a hair slower. Our insurance has 2X in the past 24 months. Pricing is abusive.
And the worst part, they don't mind not paying claims, non-renewing, cancelling, etc. More people inbound.
Lately we've been discussing our next move ... Miami rental, Panama full-time, nomadic life or even España.