Coastal Florida homeowners are being refused hurricane coverage renewal by State Farm this year. It has been estimated that 7,500 customers in Sarasota, Manatee and Charlotte will be dropped by State Farm. Many of these customers will have to resort to the state-run insurer Citizens Property Insurance Corp, though there are other options.

It’s not all bad news though, with State Farm being one of the more expensive insurers, customers could actually end up saving money by making the switch. State Farm joins other insurers Allstate, Nationwide, USAA and Tower Hill who have all reduced coverage to risky customers after the 2004-2005 hurrican seasons, which cost insurers $37 billion. The move may see customers with auto insurance take their business elsewhere.

If you are in this situation you can obtain a 2008 car insurance quote here.

Progressive car insurance recently reported fourth-quarter results, with profit falling 41% due to reduced car insurance rates.

Progressive car insurance’s net income dropped to $236.1 million, down from $400.9 million for the same period last year. As a result of the drop in income Progressive car insurance is eliminating jobs and combining units to reduce expenses. Progressive car insurance announced in November 2007 that it would reduce its workforce by around 1.3%, a cut of 341 jobs.

The car insurance companies attempt to drop car insurance rates to attract customers seems to have worked with the number of Progressive Car Insurance policy holders rising by 4% in the year.
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With more than 411 people killed on New Mexico roads in 2007, it is truly disappointing that AAA car insurance has announced it will stop offering safety classes in January 2008.

The classes were clearly popular with an estimated 3,200 drivers attending every year, these drivers will now have to look elsewhere for safe driver training and car insurance discounts.
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The Government Employees Insurance Company (GEICO) motor vehicle insurance was in the past be available only to government agents. Since the 1970’s, they have become a very competitive car insurance company for the general public. GEICO motor vehicle insurance is a wholly owned subsidiary of Berkshire Hathaway and boasts well known people such as Warren Buffet and Bill Gates on its board of directors. In 2001 the creator of GEICO motor vehicle insurance, Leo Goodwin was recognised in the International Insurance Society Hall of Fame due to the popularity of the company.
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In the past the Government Employees Insurance Company (GEICO) car insurance was only available to government agents. It has now become one of the most competitive car insurance companies for the general public. GEICO car insurance is a wholly owned subsidiary of Berkshire Hathaway including Warren Buffet and Bill Gates on its board of directors. Leo Goodwin, the creator of GEICO car insurance was recognized in the International Insurance Society Hall of Fame in 2001, due to the popularity of the company.
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