UPC Insurance cancels thousands of homeowner’s policies in Lee County

Published on 3/7/2023
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UPC Insurance
Source: NBC2

LEE COUNTY, Fla. – Florida has become home to a new kind of cancel culture as tens of thousands of homeowners started receiving home insurance cancelation notices.

United Property and Casualty is now the tenth insurance company to go insolvent in the last three years as the company begins notifying 140,000 people, the majority of them in Lee County, that they must find an alternative insurance company.

Sara Warnecke of Cape Coral received her notice that as of March 29, she will no longer have an insurance policy on her home.

She saw a 50 percent rate hike before Ian struck Southwest Florida in September and called the cost of her policy unaffordable.

Slide is the company buying up the UPC canceled policies.   This allows the company to charge considerably more to write a new policy.

“Should we just not have homeowners insurance?  I don’t have a mortgage, so I’m not forced to.  How often would I make a claim?  Should I save that money,” Warneke asked.

The cancellation notices don’t discriminate, as even State Representative Spencer Roach got canceled.