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Windhaven (WIC) in receivership

One of the unfortunate circumstances of insurance is that it is afterall a business and the dollars need to make sense (cents) so to speak.  Despite the perception otherwise, many companies look for profit margins of only a few pennies on the dollar.

This morning I receievd a notice that Windhaven Insurance Company (WIC) was being placed into receivership.  This will affect all customers who currently have policies with this carrier but should not affect any policies with their sister companies such as the Hearth.  If you are a current customer you should receive a notice about the receivership and a non-renewal notice or maybe even a cancellation letter.  Do not ignore these notices.

The best thing you can do if you are insured with Windhaven Insurance Company is to contact your insurance agent and discuss other coverage options.  Because you may end up with a higher premium with another carrier this would be a good time to shop your coverage around to several different companies.  I would recommend contacting at least 3 different insurance providers with at least one of those being an independent agent who can look at several different carriers.

Give yourself plenty of time to shop and compare because switching to a new carrier may be more expensive and come with larger downpayment than what you typically pay monthly for you insurance.

If you have more questions I would be happy to help.

Trey Sinclair
Wells Insurance Agency, Inc
(904) 259-6296