USAA to limit exposure in Florida

Citing large losses and outsized exposure in Florida, USAA will limit its new homeowners insurance business to active duty military. USAA will renew its existing policies in Florida. But it will limit Florida policyholders to one property policy. This action is expected to reduce USAA’s 270,000 policies in Florida by about 10 percent. USAA ranks as the fifth-largest home insurer in the state, behind Citizens Property Insurance, State Farm Insurance, Allstate Floridian and Nationwide Insurance of Florida. USAA won’t write new policies for retired military members and military family members.

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