Message to our Customers
Since State Farm™ started insuring property in the state, populations have grown and with that more homes and commercial properties have been constructed in areas susceptible to extreme weather events. Over this same period, State Farm's business has grown and we must responsibly assess the risk presented in coastal areas of New York and make balanced decisions that account for the impact on our customers and our company.
Over the years, State Farm has taken significant steps to manage the risks presented by hurricanes and other extreme weather related events that threaten coastal areas of New York. While some areas are more prone to catastrophes than others, none are immune. State Farm realizes that it must be proactive in managing its exposure to coastal catastrophes.
It's with this knowledge that State Farm has made a very difficult decision that will affect a portion of our Metro New York and Long Island customers. You should know that:
- State Farm has instituted a catastrophe/hurricane management plan to reduce exposure resulting from catastrophic losses.
- If your policy is among those to be non-renewed, you will receive notice, as required by New York State law:
- At least 45 days, but not more than 60 days notice of non-renewal for homeowners policies
- At least 60 days, but not more than 120 days notice of non-renewal for commercial policies.
We apologize for the inconvenience this will cause. To keep commitments we've already made to customers it is important we carefully consider any future commitments we make. That means taking a balanced approach in managing the risk we carry in coastal regions of our state. We remain committed to helping affected people through this transition.
State Farm remains committed to the state's insurance market, insuring a significant amount of properties in Metro New York. Even after the non-renewal process is complete, State Farm will remain one of the largest writers of homeowners insurance in New York.
Customers who have questions should refer to the resources presented on this website and contact their State Farm agent. Your State Farm agent will be the best source of information about the steps you can take to find alternative homeowners coverage. All our New York associates are committed to providing you with quality service and will continue to offer products from State Farm. State Farm appreciates your business.
For reporters and media representative questions, please contact your local State Farm media contact.
Overview of non-renewal process
What to do if you received non-renewal notification
There is a difference between the "non-renewal" and "cancelation" of a homeowner's insurance policy.
Homeowners policies in New York renewals take place on the third-year anniversary of the policy's renewal date. Commercial polices in New York take place on the first anniversary of the policy's renewal date. The renewal date is based upon the date the policy was originally issued. Therefore, the difference between non-renewal and cancelation are:
- Non-renewal: is when you or your insurance company does not renew your policy at the renewal date.
- Cancelation: is when you or your insurance company terminates your policy before the renewal date.
After your homeowners policy has been in effect for 60 days it may not be cancelled or non- renewed for a three year period (required policy period - one year in the case of commercial polices), except for certain reasons defined under New York Insurance Law.
At the end of this three year period, your company may decide not to renew your policy. New York State law requires insurers to provide the named insured:
- At least 45 days, but not more than 60 days notice of non-renewal for homeowners policies. At least 60 days, but not more than 120 days notice of non-renewal for commercial policies.
- The specific reason or reasons why the policy was non-renewed.
- Information about the potential for coverage through NYPIUA and C-MAP.
- If you think the reason for non-renewal is unfair or want a further explanation, please contact your State Farm agent or State Farm directly. The New York Department of Financial Services has a consumer complaint resource webpage available for additional information. The Department may also be contacted at 1-800-342-3736.
Homeowners Customer Resources
You do have options for homeowner's insurance coverage. Many insurance companies are licensed to provide homeowners insurance throughout New York, including Metro New York. State law requires insurance companies to give you proper notice before non-renewing your policy (45 to 60 days).
Following the steps below will help increase your probability of obtaining coverage in timely manner.
Commercial Customer Resources
You do have options for commercial business insurance coverage. Many insurance companies and insurance brokers are licensed to provide commercial business insurance throughout New York, including Metro New York. State law requires insurance companies to give you proper notice before non-renewing your policy (60 day to 120 days). Following the steps below will help increase your probability of obtaining coverage in timely manner.