Florida Home Insurance

I have a 25 year old metal roof, installed properly. It is considered a 100-year roof. I don't know about that but expect it to last my lifetime. My insurance agent said only one company would insure a home with a roof over 20 years old. My Insurance has gone from about $2500/year to now $8,000 a year.

Is stopping at 20 year roof simply a method of weeding out older homes?

Good question.

I have a just shy of 20 year shingle roof. I was offered by an adjuster after Michael to get it replaced. We got no damage and it seemed a waste since there's at least 10 years left on the shingles, I'm not missing one shingle, have no warping or soft spots on my underlayment and frankly don't need a new roof. For that honesty our insurance company dropped us, left the state and only citizens will cover us reasonably without replacing the roof.

Trying to decide whether to do a metal roof or shingle with ten year shingles since anything longer seems pointless.

I have a just shy of 20 year shingle roof. I was offered by an adjuster after Michael to get it replaced. We got no damage and it seemed a waste since there's at least 10 years left on the shingles, I'm not missing one shingle, have no warping or soft spots on my underlayment and frankly don't need a new roof. For that honesty our insurance company dropped us, left the state and only citizens will cover us reasonably without replacing the roof.

Trying to decide whether to do a metal roof or shingle with ten year shingles since anything longer seems pointless.

Amazing the advancements in home construction over the centuries.
The insurance industry claims we now have ten year roofs!

I am thinking of moving to Florida in 2 years when i retire. A realtor recently told me that the homes having trouble getting coverage were older homes (even just 10 years old) because they were built to lower storm related specifications. Is there any truth to this>

I am thinking of moving to Florida in 2 years when i retire. A realtor recently told me that the homes having trouble getting coverage were older homes (even just 10 years old) because they were built to lower storm related specifications. Is there any truth to this>

As I recall the statewide building codes changed shortly after Hurricane Andrew in 1992.

I am thinking of moving to Florida in 2 years when i retire. A realtor recently told me that the homes having trouble getting coverage were older homes (even just 10 years old) because they were built to lower storm related specifications. Is there any truth to this>

If they're wearing a DR Horton name tag that line makes sense.

As I recall the statewide building codes changed shortly after Hurricane Andrew in 1992.

The wind-load requirements for houses has changed a couple times since the late 80's. Don't quote me on these exact figures, but it used to be houses had to be built to withstand 140mph winds, then it was upped to 160mph maybe about 10- 15 years ago. This was primarily about the integrity of the whole house, including the way the roof sheathing was nailed down, the hurricane strapping, the windows and doors, the threaded rods holding the roof structure all the way down to the foundation. The actual gauge of the metal roofing or the thickness and nailing patterns of shingle roofs has not changed. They are adequate in terms of wind-resistance. What seems to have changed in the insurance industry is this attempt to say that the life-time of the metal or the asphalt has changed. It seems arbitrary, and it seems like the insurance companies are trying to use this as a loophole to get out of covering houses in Florida.

Ultimately I believe the roof issues were that many people saw an insurance claim after a storm to be a valid way to replace a roof.

One private company offered us insurance for over $6k/year with the roof excluded due to it's age. We passed since we knew what would be blamed for any loss.

Ultimately I believe the roof issues were that many people saw an insurance claim after a storm to be a valid way to replace a roof.

One private company offered us insurance for over $6k/year with the roof excluded due to its age. We passed since we knew what would be blamed for any loss.

The insurance industry would love to sell a la carte junk home owner policies minimizing their risk for wind, water, roofs, etc. to maximize profits leaving us to decipher the legalese of what’s covered after a disaster.

It doesn't mention the value of the home, but six figures seems excessive.

Once again they blame fraud, but has anyone noticed any big announcements about these fraudsters being brought to justice or even being arrested.

We shopped around this year and found a new carrier that reduced our premium significantly with nearly the same coverage.

Some Floridians are seeing 6-figure home insurance prices

Some Floridians have seen the price of homeowners insurance reach six figures.

www.newsnationnow.com

It doesn't mention the value of the home, but six figures seems excessive.

Once again they blame fraud, but has anyone noticed any big announcements about these fraudsters being brought to justice or even being arrested.

Have a friend whose property insurance went from roughly $6,000 to over $15,000 while his home’s value has risen to around $3,500,000.
He is shocked, but it doesn’t seem out of line when you factor in his equity has increased over $2,000,000.

Have a friend whose property insurance went from roughly $6,000 to over $15,000 while his home’s value has risen to around $3,500,000.
He is shocked, but it doesn’t seem out of line when you factor in his equity has increased over $2,000,000.

Yeah I struggle for sympathy in those cases.

Perhaps Capitalism is at fault?

Again, not seeing arrests of the supposed problem of roofing contractors, adjusters and attorneys; but here's another insurance agent being arrested for im embezzlement.

This is literally the most pressing issue in Florida, but we will deal with it next June right before hurricane season.

Probably feel that if they ignore it long enough, it will work itself out eventually, right?!? Active neglect.

With all of the corporations buying up property this could all be a conspiracy to get more by forcing little guys out?

With all of the corporations buying up property this could all be a conspiracy to get more by forcing little guys out?

That logic doesn't track. Those companies need insurance too or their investors won't be real interested. Commercial lines are way worse than private residential.

That logic doesn't track. Those companies need insurance too or their investors won't be real interested. Commercial lines are way worse than private residential.

They'd be paying cash and self insuring.

They'd be paying cash and self insuring.

Sounds like a failed business after the next major hurricane hits the area.

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

Agree. Anyone that believes otherwise has truly lost it. They obviously don’t understand the economics behind the insurance industry, just whiners…..

Agree. Anyone that believes otherwise has truly lost it. They obviously don’t understand the economics behind the insurance industry, just whiners…..

Are these the same economics whiners complain about when corporations raise prices even after posting record profits?

Are these the same economics whiners complain about when corporations raise prices even after posting record profits?

See: America is running out of home-owners insurance

I know I've been trying to articulate this before, but isn't the problem that a huge portion of the new homes being built in Florida, are (A) being built at a faster rate than ever before (any semblance of control growth is non-existent), (B) much larger than ever before, and (C) much pricier than ever before ($400 per ft. and up). It kind of seems to me that my drastic home insurance increases are subsidizing the excesses of the filthy rich.