Florida Car Dealers Say Insurers Halting Policies Ahead of Irma
- Move by Progressive, Allstate hinders sales in some counties
- Hurricane Irma damage could reach $130 billion, Barclays says
AutoNation Begins Preparations for Hurricane Irma
This article is for subscribers only.
Insurers including Progressive Corp. and Allstate Corp. have stopped issuing policies on new cars in certain Florida counties, hindering vehicle sales days before Hurricane Irma is forecast to hit the state.
The companies may be overreacting to losses incurred last month related to Hurricane Harvey and refusing to issue coverage, Ted Smith, the president of the Florida Automobile Dealers Association, said by phone. State Farm Mutual Automobile Insurance Co. is still issuing coverage and waiting until a national hurricane advisory before halting new policies, he said.