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Allstate to stop insuring new N.J. homeowners
msnbc ^ | 12-7-06

Posted on 12/08/2006 6:17:12 AM PST by Hydroshock

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The good hands people flip the bird to the Garden State.
1 posted on 12/08/2006 6:17:17 AM PST by Hydroshock
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To: Hydroshock; All

Ok freepers from NJ, what are the nature of the majority of claims that is causing this?


2 posted on 12/08/2006 6:18:58 AM PST by bmwcyle (The snake is loose in the garden and Eve just bit the apple.)
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To: bmwcyle

Katrina. Allstate is also pulling out of MS and LA. They are trying to raise rates through the roof in TX and FL.


3 posted on 12/08/2006 6:21:01 AM PST by Hydroshock ( (Proverbs 22:7). The rich ruleth over the poor, and the borrower is servant to the lender.)
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To: Hydroshock

In a free market, there would be a price at which it is viable for all state or any other insurer to sell their services. We have this problem in Florida too.


4 posted on 12/08/2006 6:21:04 AM PST by jjw
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To: Hydroshock

Of all the slimeball businesses out there, insurance companies are right up there with oil companies and legal firms.

Do they have a right not insure homes in New jersy - of course they do.

Does New Jersey have a right to retaliate against them? Of course it does. But it won't.

NExt to the New Jersey Education Association, the Cops Unions, the Construction Unions and the Trial Court Attorneys, the Insurnace companies are the highest contributors to the prostitutes who sit in that brothel called the New Jersey State Legislature.


5 posted on 12/08/2006 6:21:33 AM PST by ZULU (Non nobis, non nobis, Domine, sed nomini tuo da gloriam. God, guts, and guns made America great.)
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To: Hydroshock

The insurance companies are dropping anyone who might actually make a claim.


6 posted on 12/08/2006 6:22:53 AM PST by driftdiver
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To: Hydroshock

We (in other states) need to help them fight this. If they can cherry pick in NJ, the next step will probably be Florida and the Gulf States.


7 posted on 12/08/2006 6:23:12 AM PST by CindyDawg
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To: bmwcyle

NJ doesn't get that many huricanes ... but boy are the Folks in Jersey gonna be ticked about this


8 posted on 12/08/2006 6:23:19 AM PST by Mo1 (Thank You Mr & Mrs "I'm gonna teach you a lesson" Voter ... you just screwed us on so many levels)
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To: Hydroshock

travelers I believe is killing all business insurance in New Orleans next year. Nobody is getting renewed.


9 posted on 12/08/2006 6:23:35 AM PST by dogbyte12
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To: Hydroshock

We get that all the time from more than just Allstate here in California,

My inlaws have had their house insurance cancelled twice in the last 5 years without filing a claim.

Companies keep splitting whenever there is a big loss here usually earthquakes. Welcome to what we've been working with for a long time.


10 posted on 12/08/2006 6:24:32 AM PST by television is just wrong (Our sympathies are misguided with illegal aliens...)
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To: Mo1

Any recall of the last hurricane that hit New Jersey? I can't think of any, other than the storm coming up north after already hitting land. Just trying to think of a Hurricane that made landfall itself in NJ and my mind is drawing a blank.


11 posted on 12/08/2006 6:25:06 AM PST by dogbyte12
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To: Hydroshock
I see a need for national home insurance!
12 posted on 12/08/2006 6:25:16 AM PST by JZelle
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To: dogbyte12

I honestly think that in 5 years the only insurance you will be able to get within 100 miles is government sponsored insurance similar to the flood insurance policies that are out there now.


13 posted on 12/08/2006 6:26:01 AM PST by Hydroshock ( (Proverbs 22:7). The rich ruleth over the poor, and the borrower is servant to the lender.)
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To: dogbyte12
From wiki, FWIW....

List of New Jersey hurricanes

14 posted on 12/08/2006 6:26:22 AM PST by mewzilla (Property must be secured or liberty cannot exist. John Adams)
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To: Hydroshock

same with NY.

my agent said they wont cancel existing accounts.

after the 2005 season they must be hurting. It sounds like a reasonable business decision to me.


15 posted on 12/08/2006 6:26:40 AM PST by Vaquero ("An armed society is a polite society" Robert A. Heinlein)
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To: JZelle

That may be coming. In fact I think it is.


16 posted on 12/08/2006 6:26:55 AM PST by Hydroshock ( (Proverbs 22:7). The rich ruleth over the poor, and the borrower is servant to the lender.)
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To: Mo1
Many Jersey people have the mob mentality, soak the system. I'm sure this is about fraud and false claims.
17 posted on 12/08/2006 6:27:22 AM PST by bmwcyle (The snake is loose in the garden and Eve just bit the apple.)
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To: mewzilla

Yeah, I looked at it, and at rough blush, about 17 people have been killed over the past 50 years from Hurricanes in NJ. Most of these storms hit other states first, and were tropical storms when hitting NJ.

NJ's risk seems really low considering.


18 posted on 12/08/2006 6:29:54 AM PST by dogbyte12
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To: dogbyte12

I'm thinking Isbelle a few years back .. but don't quote me on that


19 posted on 12/08/2006 6:31:33 AM PST by Mo1 (Thank You Mr & Mrs "I'm gonna teach you a lesson" Voter ... you just screwed us on so many levels)
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To: Hydroshock

All-but-one-State is now All-but-two-States. (They stopped writing insurance in the PRM years ago because of the regulatory climate.)


20 posted on 12/08/2006 6:33:58 AM PST by Lonesome in Massachussets (The hallmark of a crackpot conspiracy theory is that it expands to include countervailing evidence.)
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