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Farm Bureau Dropping 3,000 SC Homeowners

The insurer said it paid out $36 million in claims, the most since Hurricane Hugo

Farm Bureau announced it will drop 3,000 South Carolina homeowners after paying out millions of dollars in storm damages.

WYFF reports that the company is notifying property owners by letter in 17 counties that they will not be renewed.

A Farm Bureau spokeswoman told the station the company paid $36 million in claims last year, the most since Hurricane Hugo in 1989.

Mimi July 13, 2012 at 11:30 PM
They paid out 36 million in claims and profitted 36 billion. I find it amazing that SC even does business with these companies. Their objective is to make profits not to insure homes. Auto, Home, Life insurance has become obsolete due to the unregulation and greed. Sometime companies absorb losses and sometime they profit. I am pretty sure that they take into consideration the cost before calculating the premimums, but when you hand out millions in bonuses and don't save for a rainy day this is what happens. Wouldn't it just be wonderful for all the people to buy car, home, health insurance and never make a claim??? PATHETIC

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