Progressive Insurance begins dropping Florida home insurance policies

It was a sinking feeling the moment Bradenton resident Ira Kasdan got the letter last month that he was being dropped by Progressive Insurance. „Dear Policyholder, your policy will expire at 12:01 on July 1st , 2024, for the following reasons. After careful consideration we are unable to offer you a renewal policy due to a reduction in our hurricane exposure. Please contact your agent to find replacement coverage,” the letter read. Last fall Progressive confirmed to ABC Action News that they will not renew policies in Florida beginning in May of 2024 to „rebalance our exposure” they told us in a statement. „I was shocked, I was stunned,” Kasdan said. „There may be a time where as much as we love Florida we may not be able to stay here.”