|Published:||Jan 14, 2011 4:53 AM EST|
|Updated:||Jan 14, 2011 12:13 AM EST|
LEE COUNTY, Fla. - A Bonita Springs man says he was one of the 125,000 that saw State Farm drop their homeowners insurance policy... now, he may take all of his insurance policies with him.
"If you were to have approached me a year ago and said 'would state farm ever cancel you' i'd say 'that's the last thing that'd ever happen," said Ovid Shreve, a State Farm policyholder.
State Farm announced the cuts as a way to try and avoid losses in the state of Florida.
Homeowners should be finding out in the coming weeks if they are the last of the 125,000 dropped.
Shreve now has until the end of January to find a new insurance policy for his home and says he's considering taking his auto policies with him as a result.
The major homeowners insurance company originally set out to eliminate over 800,000 policies, but settled on the lower number in exchange for a higher interest rate.