Allstate Drops Property Owners' Policies

April 9, 2007

Reported by: KPLC's Lee Peck

Landlords currently with Allstate Insurance have been dropped from their coverage.

Allstate says it will not renew any of it's landlord policies, because of lost profits in Louisiana.

Policy holder Richard Owens, owns rental property and come June will have to find different coverage.

He fears he may not be able to find affordable rental insurance.

"We're all going to have a rough time, we're going to try to keep the rent low and affordable but we do have to pay the bills and we'll have no choice but to increase it. Unfortunately it's not going to be shock for me but it's going to be a shock for every renter that's renting from every individual in the entire state."

Meanwhile Owens plans to contact his state representative about the matter.