ST. PETERSBURG, Fla. — The historic, thousand-year storm one week ago left many drivers in Sarasota with totaled cars and claims to their insurance companies, as auto insurance rates continue to rise.
Now, 10 Tampa Bay has confirmed Travelers Insurance stopped writing new auto insurance policies in coastal ZIP codes across Florida.
Insurance agents say the move was unexpected but not surprising.
The news came down last month to insurance agents in the Tampa Bay Area along with a list of ZIP codes where Travelers will no longer issue new auto insurance policies. While carriers have cut off writing new home insurance policies, agents locally say it's the first time he's seen this for cars.
“Never for auto insurance, this is new,” said Blake Mednick, an agent for Professional Insurance Systems of Florida based in St. Petersburg.
He says every insurer treats risk differently.
‘The flood zone [change] was surprising, but I understand why they're doing it,” he says. “A lot of those vehicles were flooded along the coastline, so they're doing it to protect the current policyholders.”
The news has Shore Acres resident Jack Cleary shaking his head.
“It’s scary to think about; it definitely is,” he said. “It's crazy, but it's more so scary.”
His insurance went up more than 10% when he recently renewed. He says fewer carriers are offering quotes.
“Whether it be good or bad, at least I got 15 quotes to go with no matter what,” he adds. “The last time I renewed my car insurance, there were four quotes."
Travelers wouldn't comment on the policy change when we reached out. For Mednick, he understands why they may have made the move.
“I live on St. Pete Beach, and my yard was flooded twice,” he says. “There are people parking on the street. There's a lot of flood claims in regards to the auto insurance, and they've got to pay out.”
Mednick says there are ways an agent or you can try to bring the price down on quotes; you can opt for less coverage or pay a higher deductible, for example.
Here are the ZIP codes along the coast where Travelers will no longer write any auto insurance policies:
