by Farmers Insurance Group is leaving the Texas homeowner’s insurace market. Read the story in the Houston Chronicle.
In a move typical of the industry, the company has decided to not renew coverage for Texas after a recent rash of mold claims. Insurance is a simple business: collect premiums and avoid claims. After working the system for years, Farmers now wants to “skip town” as the claims begin to come in.
In fact, there may be nothing Texans can do about Farmers’ betrayal except this: boycott their other offerings. Why buy auto insurance from a company that won’t offer you homeowners coverage?
