Florida Home Insurance

Another one flees

AAA IS JOINING A GROWING LIST OF INSURERS TO ABANDON FLORIDA-BASED CUSTOMERS: ‘IT’S JUST AN UNTENABLE SITUATION’​

AAA is joining a growing list of insurers to abandon Florida-based customers: 'It’s just an untenable situation'

AAA announced that it would discontinue some of its insurance coverage in Florida due to rising operating costs from natural disasters.

www.thecooldown.com

Luckily we have a GOP led government that's dealing with anything but this crisis.

Luckily we have a GOP led government that's dealing with anything but this crisis.

And what would a democratic government do? Force them to stay? How?

And what would a democratic government do? Force them to stay? How?

See, I don't think the democrats could do any better. But at least they wouldn't blame it on the company being "woke". Expect many more rights to be limited next year to help draw insurance companies back. Remember when we could hire a contractor by assigning benefits and let them do the heavy lifting against insurance companies and people could get their houses fixed. I wonder if insurance companies doing the right thing would have cut down on litigation?

And what would a democratic government do? Force them to stay? How?

Maybe do with auto/homeowners insurance what was done with flood insurance. We have already crossed that bridge in Florida with Citizens.
It’s past time for us to compete with the for profit insurance insurance industry.

See, I don't think the democrats could do any better. But at least they wouldn't blame it on the company being "woke". Expect many more rights to be limited next year to help draw insurance companies back. Remember when we could hire a contractor by assigning benefits and let them do the heavy lifting against insurance companies.

It was simpler that way.
A lady we sold a condo to had water damage after living in it for a while. One of the contractors we recommended gave her a quote and she agreed to the price.
The insurance company sent her a check, but she refused to pay the contractor because she said the insurance company was supposed to pay him.
It took a while to convince her the check was for her to pay him since there is no way an insurance company would pay the contractor and also send her thousands of dollars.

Rioting boomers...

It was simpler that way.
A lady we sold a condo to had water damage after living in it for a while. One of the contractors we recommended gave her a quote and she agreed to the price.
The insurance company sent her a check, but she refused to pay the contractor because she said the insurance company was supposed to pay him.
It took a while to convince her the check was for her to pay him since there is no way an insurance company would pay the contractor and also send her thousands of dollars.

Math happened

Wonder if this is another way to have people lose their homes. It's happening beyond FL, like CA(Dem state) and that governor is putting forth ridiculously mind blowing policies which isn't helping anyone... who knows what state/area is next. We had more storms yr after yr in NC and insurance companies never pulled out. It just seems like we should be digging deep. Gotta be wise too, especially against fraud which isn't helping things and has been a problem after every hurricane for years.

Wonder if this is another way to have people lose their homes. It's happening beyond FL, like CA(Dem state) and that governor is putting forth ridiculously mind blowing policies which isn't helping anyone... who knows what state/area is next. We had more storms yr after yr in NC and insurance companies never pulled out. It just seems like we should be digging deep. Gotta be wise too, especially against fraud which isn't helping things and has been a problem after every hurricane for years.

So it isn't about politics?

So it isn't about politics?

I think they were trying to show that it happens under both parties
The would remove politics from the equation
Just my take on the comment

So it isn't about politics?

It clearly is since they had to mention California is a generally Democratic state. What they didn't mention is that while insurance has temporarily stopped issuing in California they haven't left. Florida literally had to create it's own insurance company due to companies leaving the first time and now we're way worse off, but let's point a finger at another state experiencing temporary insurance woes. Maybe this is why the GOP in Florida or the country hasn't actually fixed a problem in decades.

Not to beat the horse, but the current Governor of North Carolina is a Democrat and the previous one was a Republican. Based on Florida's recent legislative endeavors I don't think it has worked. We have all kinds of promises from politicians who say it will take time, but if they believed that, then there should be no legislation next session dealing with insurance. We shall see.

I think they were trying to show that it happens under both parties
The would remove politics from the equation
Just my take on the comment

We Floridians should all be on the same side and demand our political candidates to do something about insurance and infrastructure. Everyone should ask themselves why we are not able to put serious issues above a political "side"...

We Floridians should all be on the same side and demand our political candidates to do something about insurance and infrastructure. Everyone should ask themselves why we are not able to put serious issues above a political "side"...

What could any politicians do about private companies deciding not to do business in a state?
Infrastructure is a whole different thing, this is under the states control

Neither of these have much to do with politics other then people just trying to take shots at leaders they don't like

What could any politicians do about private companies deciding not to do business in a state?
Infrastructure is a whole different thing, this is under the states control

Neither of these have much to do with politics other then people just trying to take shots at leaders they don't like

To answer your question:

What could any politicians do about private companies deciding not to do business in a state?
Infrastructure is a whole different thing, this is under the states control

Neither of these have much to do with politics other then people just trying to take shots at leaders they don't like

I think you are wrong but the truth is that we have gotten ourselves so divided that you might be right. If we the people of Florida were smart we would demand changes to a system that only works well for the wealthy...

To answer your question:

Home - Public - Citizens Property Insurance Corporation

www.citizensfla.com

I'd love to see what the top 10 people in this 'non profit' make annually
I'm pretty sure they profit quite heavily

I'd love to see what the top 10 people in this 'non profit' make annually
I'm pretty sure they profit quite heavily

Looks like our regulators dropped the ball in all of this.

Thanks Jimmy, maybe you should show up to your job once in a while?

Could Idalia be the final blow to any hope of affordable insurance in Florida’s future?

For the insurance and reinsurance industry, hurricane Idalia’s forecast landfall in Florida could be a decisive blow, if the industry loss proves relatively significant, with ramifications for carriers and the hard market being sustained.

I've heard that knocking on wood is supposed to be our current strategy.

Could Idalia be the final blow to any hope of affordable insurance in Florida’s future?

For the insurance and reinsurance industry, hurricane Idalia’s forecast landfall in Florida could be a decisive blow, if the industry loss proves relatively significant, with ramifications for carriers and the hard market being sustained.

Hurricane Idalia forecast to hit Florida "near or at major intensity" - Reinsurance News

Florida is facing a significant hurricane threat this week, as tropical storm Idalia is forecast to become hurricane Idalia later today, before then

www.reinsurancene.ws

I would say no, I also think those who have a mortgages will always have insurance as the mortgage company will ensure their investment is covered. The folks who might struggle are those who are mortgage free and fixed incomes.

I would say no, I also think those who have a mortgages will always have insurance as the mortgage company will ensure their investment is covered. The folks who might struggle are those who are mortgage free and fixed incomes.

When reading the last sentence I slowly raise my hand.

I would say no, I also think those who have a mortgages will always have insurance as the mortgage company will ensure their investment is covered. The folks who might struggle are those who are mortgage free and fixed incomes.

Before I left banking I discovered a whole segment of people out there who are relying on forced placed insurance as in a lot of cases it's cheaper than home insurance.

However, and what I repeatedly advised people; don't rely on this, it's extremely basic coverage that builds back the structure with contractor level finishes and doesn't cover ANYTHING personal or not directly/permanently attached to the home.

The bank or lender may also opt to simply apply any payout to the mortgage, in other words you could find up with a vacant lot with a much reduced/paid off mortgage.

Could Idalia be the final blow to any hope of affordable insurance in Florida’s future?

For the insurance and reinsurance industry, hurricane Idalia’s forecast landfall in Florida could be a decisive blow, if the industry loss proves relatively significant, with ramifications for carriers and the hard market being sustained.

Hurricane Idalia forecast to hit Florida "near or at major intensity" - Reinsurance News

Florida is facing a significant hurricane threat this week, as tropical storm Idalia is forecast to become hurricane Idalia later today, before then

www.reinsurancene.ws

So I thought about this and looked at the storm track.

There's not much in the path. Other than Jacksonville metro which is essentially inland based on the track. This shouldn't be a costly storm.