State Farm Maximum Number of Insured Properties

[Al D.]

Has anyone run into a problem getting over five properties insured for any one entity with State Farm? (Not umbrella.)

I have six+ insurers that I use across multiple states. Recently, State Farm became the best choice for one particular property, by a mile. A local agent there thought that as long as I don’t already have five properties insured with State Farm in that state, I am good.

I switched to State Farm, but then the underwriter turned it down because this was the sixth SF property I would have under the same entity name across multiple states. That agent said there was nothing he can do. Ok.

I just spoke with a local to me SF agent: He claims he has clients with over 10 properties with State Farm under same name and in same state, and that I should “force” the agent who initially wrote the policy to file an appeal, as this was likely an inexperienced underwriter.

Before I press the issue with that agent, I’d like to see if anyone has run into similar.

(Please do not suggest to change the entity name as a solution.)

[Matthew Tyson]

I actually received notice from my SF agent about the same issue. He said that it came down from the top that they are no longer allowed to write more than 5 policies in an LLC. He has tried pressing the issue but has had no luck. Nothing to gain for him to not fight it, as he would be turning down future business. He is still working on getting more clarity and looking for a solution but he is not optimistic or happy about the situation. We are located in San Antonio, TX.

Some background on my agent: I trust my him very much, close friend, holds many policies for myself and family. When he first went out on his own and opened his own branch, I told him I never thought he could beat my current policy rates for my rentals but if he could get close I would switch to him. I wanted to him to have the business I just didn't think it would be possible for SF farm to be competitive.  I was shocked at what he was able to deliver and being able to annoy him non stop is a huge bonus.