Allstate dropping 10,000 SC homeowner customers
Wed, 11 Jul 2012 14:34:14 GMT —
Allstate is dropping about 10,000 South Carolina home insurance customers.
The Post and Courier of Charleston reports the company is dropping customers who don't also carry Allstate auto coverage, have older homes and who insure their homes for less than $220,000.
Allstate is the second-largest writer of homeowner insurance in South Carolina. It has about 140,000 policies, second to State Farm's 300,000 policyholders.
Allstate spokesman Tracy Owens said it was a difficult decision but the company needs to drop the customers to remain financially strong for all its customers.
State Insurance Department spokeswoman Ann Roberson said Allstate is directing its customers to a competitor, Coastal Risk Underwriters.