What If My Insurance Company Goes Bankrupt?

Readers QuestionL “What if your insurance company does bankrupt?” Llance of Conroe, Texas.

Answer to Readers Question: You should search Florida Department of Insurance Statutes for Guaranty Fund and Insolvency for this information because you need to name the insurance company.

I cannot determine the amount of guaranteed coverage and therefore I recommend you call their office for the information as you would have to answer questions, give your policy number,and amount.

Remember, the policy must be issued by a licensed insurer to be covered by the Guaranty Fund. Also, some companies may be non-authorized or Surplus Lines. These companies are not covered by the Guaranty Fund. That means you’re on your own if they go bankrupt.

Tags: Conroe, Conroe, Texas, Department Of Insurance, Florida Department Of Insurance, Florida Insurance, Florida Statutes, Guaranty Fund, Insolvency, Insurance, Insurance Company, Insurer, Surplus Lines, Texas

Category: Conroe, Texas