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State Farm drops flood insurance

By Holden Lewis · Bankrate.com
Tuesday, June 15, 2010
Posted: 11 am ET

State Farm is opting out of the National Flood Insurance Program, Jay MacDonald notes today in his insurance blog.

Starting this fall, State Farm will begin transferring existing customers to NFIP Direct. The impetus for the move appears to be State Farm's frustration with the repeated on-again, off-again authorizations of the flood insurance program.

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