Nationwide Insurance of Florida won't renew 60,000 homeowners policies across the state, including 10,660 in Broward, Miami-Dade, and Monroe counties.

The company has arranged for Tower Hill Insurance to offer coverage to many of the homeowners who will lose the Nationwide coverage.

These policyholders will have time to find new coverage if they turn down an offer from Tower Hill. The non-renewals will begin July 1, 2010.

Notices will start going out to homeowners in January.

After eliminating these 60,000 policies, Nationwide will have 275,000 in Florida, including 45,000 that cover homes. The remaining polices cover mostly autos and boats.

Nationwide has been trimming the number of policies it carries in this state since 2005 to reduce its hurricane exposure. That year, the company cut 25,000 to 30,000 homeowners policies from its books.

In 2007, the insurer dropped another 39,000 property policies.

The Florida unit of the Columbus, Ohio-based insurer, had to be recapitalized after four hurricanes hit the state in 2004.

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