[waypoint]

I checked the mail today and got this letter from the "Special Deputy Receiver" stating Important Notice to Policy Holders of: Texas Select Lloyds Insurance Co., Vesta Fire Insurance Corp., Vesta Insurance Corp., Shelby Casualty Insurance Co., and The Shelby Insurance Co. It said persuant to court orders, all policies issued by these companies are cancelled, and no renewal policies will be issued, effective 12:01 a.M CST on Aug 24th. If you are insured by one of these companies, it is important find new insurance coverage befor the cancellation date.

What ticks me off is I am covered through September 2006. Now I have to find new insurance and have to wait 30 days because of hurricane season for it to take effect, right? And I have to fight to collect my one month of payment due back to me. This bites.

Can anyone here give me some leads as to who you are using and who is the most affordable home insurance carrier. A contact would be nice too. Thanks in advance.

Heres the letter: Just in case some 2cooler here has insurance with these companies.

 

[bluefin]

Check out the folks who advertise on this board first. Otherwise you'll be getting lots of trolls...

 

[bogey999]

The 30 days should not be a problem if there is not a named storm in the Gulf.

Bogey

 

[speckle-catcher]

I'm not sure about regular homeowner's insurance taking 30 days before it goes into effect, but FEMA flood insurance has a 30 day waiting period

windstorm insurance takes effect immediately as long as there is no named storm in the gulf

 

[Fishin-Inc]

Lucky

You're lucky you don't have a claim too.

This is why I stick w. that big couple companies but that doesn't guarantee either. Glad you're not at a "real loss".

 

[Brewgod]

State shut 'em down for not having enough reserves. Gonna be tough finding a carrier, a lot of the majors are not writing policies to "new" customers in the P&C field. Sorry I'm not much help...

 

[NurseD-bait]

we've already been down this road last month...the t-storm that hit League City..caused our cancellation and we didn't even call them....what happens is you have to buy seperate flood (if you need it) and wind/storm through Texas..you can keep the policy you have when you show proof of additional coverage...we picked up flood for $296 and wind/storm for about $400...our premium for our standing policy only dropped $25 per month....that's if that is why they area cencelling you...we had other insurance through Texas Select but they closed their doors.. so it sent us on a goose chase too...

 

[TomCat]

Same thing here. We just paid our 6 month premium and the state shut’em down. We received a form and letter today saying if we don’t get a refund soon we’ll have to fife a claim. I’m expecting a real reaming before this is over.

 

[kinja]

The state has had those companies in receivership for a while and tried to sell them. Can you imagine, no one wanted to buy insolvent companies in our dynamic weather state. Root problem was they weren't charging enough to cover both claims and expenses.


THE GOOD NEWS, you don't have a 30 day waiting period on a homeowners policy. That is ONLY for new flood insurance policies. If you shoot me a PM, I'll recommend some quality companies that are writing new business. Unfortunately, it won't be my company as we aren't writing any new business. You are one of over 100,000 who are in this boat. Relax though, you'll find something.-Tom

 

[NurseD-bait]

we got our policy from Arrowhead..June 1