Safeco to offer wind coverage to homeowners
MISSISSIPPI GULF COAST — State Insurance Commissioner Mike Chaney says Safeco Insurance plans to offer homeowners insurance, including wind coverage, in south Mississippi.
Chaney says the company will offer 500 to 1,000 homeowner policies wind coverage beginning in mid-March.
Some companies have restricted wind coverage, stopped offering it altogether to new customers and/or nonrenewed policyholders who live near shore.
Chaney believes Safeco also will offer discounts in the near future to policyholders who strengthen their homes to minimize hurricane damage.
Chaney says one other large insurer, Republic Insurance Group, is writing new homeowner policies with wind coverage on the coast, as are some smaller companies.
Since Hurricane Katrina, many policyholders have been forced into the state-run wind pool. The wind pool maintains rates higher than the private market.
![[Print]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/print.png)
![[Email]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/email_2.png)
![[RSS Feed]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/rssfeed.png)
![[del.icio.us]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/delicious.png)
![[Digg]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/digg.png)
![[Facebook]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/facebook.png)
To sign up for Mississippi Business Daily Updates, click here.
Recent Posts
- Court: Fees paid to private lawyers to represent state are public funds
- Senate approves 60-day extension of federal flood insurance program
- Coast casinos up, riverboats down in April
- Topazi retiring as COO of Southern Company
- Historic train getting renovations, but city needs $250K to complete project
- MBJ EDITORIAL: Questions we should ask the new chief of the MDA
- Forecasters: Atlantic could see 15 storms this hurricane season
- Louisiana PSC approves Entergy’s bid to join MISO
POST A COMMENT