Southern Fidelity Property Insurance bankrupt: When can you expect premium refund?
Share this @internewscast.com

TAMPA, Fla. (WFLA) — Nearly 80,000 Floridians are scrambling to find new property insurance in the midst of hurricane season.

Their insurance company, Southern Fidelity, has gone out of business leaving policyholders with questions and concerns.

8 On Your Side is getting answers for one family.

This couple is on a fixed income.

Not only do they have approximately 10 days to find new property insurance, they also have to figure out how to pay for it.

“We’ve been here 26 years and we really, we really love our house,” Bari Reali said.

The plan was to stay in this Bradenton home forever. Now, the Reali’s don’t know if they can afford it.

“Spent a lot of time in this house, building and stuff and it hurts to let it go, if I have to,” Vince Reali said.

“It’s just really stressful,” Bari added.

On Friday, Bari got a notice from Southern Fidelity stating it went bankrupt, thus, all policies will be canceled effective July 15.

“It was quite a shock,” Bari said. “Because it was hard enough to get the money to start with.”

The Reali’s had just renewed their annual homeowner’s policy less than three months ago. Their premium had doubled. To pay for it, the couple said they were forced to cash in their life insurance policies.

“Would’ve taken care of either one of us fairly well. If something happened to the other one,” Bari said. “It was very difficult.”

The Reali’s are scrambling to find new property insurance but they’re also out of cash. To pay for their new insurance, they say they need Southern Fidelity to issue a refund.

They called 8 On Your Side to find out if and when that’ll happen.

The Florida Insurance Guaranty Association (FIGA) handles cases of bankrupt insurers. On its website, FIGA stated it “expects” to issue payments “within 45 to 60 days” from Southern Fidelity’s liquidation date. That means the Reali’s could be waiting until August 15th, or even longer, to get a check.

“They gave us the shaft ..really,” Vince said.

“This is happening all over the place and no one seems to do anything about it,” said Bari.

This couple will have to pay out of pocket for a new policy. Again, they don’t know how they’re going to do that.

8 On Your Side is in the process of reaching out to various officials to see if anything can be done for people in this situation.

If you have a story to share, email investigator Mahsa Saeidi at [email protected]

Share this @internewscast.com
You May Also Like

Senate climate bill has West Virginia written all over it

CHARLESTON, W.Va. – The sprawling economic package passed by the U.S. Senate…

1 dead, 2 kids among 5 hospitalized after crash in Osceola County, troopers say

A 45-year-old woman was killed and five others injured in an Osceola…

Community group pleads for more teachers, urges Jacksonville residents to support property tax increase for raises

JACKSONVILLE, Fla. – A local community group spoke out Friday in front…

Judge Declares Mistrial in Defining Flint Water Crisis Case

The Flint Water Plant tower is shown Jan. 13, 2016 in Flint,…

Shoppers empty shelves of bottled water amid drought, with people urged to take four-minute showers

Panicked shoppers have emptied supermarket shelves of bottled water in ‘bone dry…

Author Salman Rushdie Stabbed in Neck at Event; Condition Unknown – Crime Online

Author Salman Rushdie was reportedly stabbed in the neck while on stage…

Jacksonville Jaguars Hall of fame & shame over the years

With the first home pre-season game Friday night coinciding with the first…

Kansas abortion vote shows limits of GOP’s strength

TOPEKA, Kan. – An increase in turnout among Democrats and independents and…