State Farm Insurance said beginning next year it will drop about 50,000 Florida homeowners' insurance policyholders as it doubles the coastal setback area where it will not write windstorm coverage.
Most of the home and condominium policies that will not be renewed are within a few miles of the coast, but some are farther inland, State Farm spokesman Justin Glover said.
Mr. Glover said the move made public Thursday was "a very tough decision for us to make, but it is part of our decision to remain in this market." State Farm filed paperwork Thursday with the state Office of Insurance Regulation notifying authorities of the company intention to drop the policies.
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