A settlement has been proposed in a class action against Nationwide Insurance. The suit says Nationwide should pay for both the car’s repair and depreciated value for policyholders hit by underinsured drivers or involved in hit-and-run accidents. For those who qualify and file, it could mean thousands.
With each passing hurricane it becomes more difficult for homeowners in the gulf states to secure howeowner insurance policies. Now Nationwide has announced that they are dropping 39,000 policies in Florida. This follows announcements from Allstate and and State Farm that they were dropping 156,000 policies due to the 2004-2005 hurricane season.