Fla home insurance cost about to go up?

If you’re talking about power or sewer/water to the house that’s on the city/power companies.
Once it hits your walls that’s you.

Some areas will required upgrade of systems if the %damage exceeds a certain amount. My area it’s 40% or so.
That’s where L&O comes in.
Say there’s a fire and 40% is destroyed they might require electrical, plumbing or window upgrade to new codes. The original claim usually doesn’t cover that.
It’s dirt cheap, for my 150k of L&O it was like $150/year.

 

Guess it would be more part of business infrastructure. If I own a trailer park or RV park and the storm wiped me out and now I have to install new infrastructure (water, sewer, drainage, etc) to new standards, would millions required for new infrastructure be covered under that clause or is it offered with business interruption insurance?

 

I don't believe so, haven't been in the commercial side in a good while so thats not my world anymore.

 

He hasn't figured out how to fit a hurricane on an airplane to send it to California or Massachusetts . . .

 

he can just go pray it away like he did last time. guess Ft Myers/Naples was too woke to deserve his prayers even if it is a big desi area

Ron DeSantis insists Western Wall prayer kept 2019 hurricane from hitting Florida (floridapolitics.com)

Gov. Ron DeSantis continues to claim that a prayer he offered at Israel’s Western Wall steered a hurricane away from Florida in 2019.

“We all were able to do some prayers at the Western Wall. And so you write the little note, you put it in the crevice there. And when I got back from doing that, I was asked by the media, what did you pray for? I said, ‘I pray that we don’t have any hurricanes this summer in Florida,'” DeSantis said at the Christians United for Israel summit.

“Well, fast forward a couple of months and we have a hurricane that developed in the Caribbean called Hurricane Dorian. And it was a Category 5, massive, massive hurricane barreling straight to the east coast of Florida,” DeSantis continued. “And when that path was there, there were some people that were snickering at me saying, well, that prayer must not have gone very far. And yet, within 48 hours, that storm took a 90-degree turn to the north and it did not hit the state of Florida. We were free and clear.”

 

4k for a new roof? You must work for an insurance adjuster.

 

Our governor does not want our problems to disappear. He wants them to be transported to a blue state, so he can "own" them, at a cost of several million dollars of taxpayer money. If he doesn't do it, the taxpayer money might be spent on something useless, like education or roads.

 

That was also my first reaction, but then I realized he said $4K plus labor.

 

Didn’t know about the prayer wall thingy with DeSantis in 2019. Did a hurricane hit Florida in 2019?

If not, maybe the prayer was year specific? Lol

 

Of course:
Head Scratcher? Claims Litigation Not Named as Major Factor in Florida Insolvencies

 

AAA Insurance is now leaving Florida. Along with Farmer's Insurance, which left earlier in the year.

Floridians now pay almost four times what the average American pays for homeowners insurance.

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

 

From the article:
A Department of Financial Services official, responding to questions from Insurance Journal, said claims litigation is a factor behind the factors listed in the report. The R&L annual report examined insolvencies from 2017 through 2022, including the liquidations of St. Johns Insurance Co., Avatar Property and Casualty Insurance, and Southern Fidelity Insurance, said Devin Galetta, communications director for Florida’s chief financial officer, Jimmy Patronis.

“While the words ‘claims litigation’ do not appear on that particular page, the reality is that during the period covered by these reports, 79% of the nation’s homeowners insurance lawsuits were filed in Florida while the state only accounted for 9% of the nation’s homeowner’s insurance claims,” he said in an email, citing an oft-quoted statistic compiled by the Florida Office of Insurance Regulation, based on data from the National Association of Insurance Commissioners.

“‘Claims litigation’ is a driving factor for many of the listed insolvency factors, including asset deterioration, insufficient claims reserves, inadequate premium rates, reinsurance market issues and changing business conditions,” Galetta said.

 

Yeah, nobody is surprised that the DeSantis people are claiming the same shit they claimed a few months ago when they pushed through "reforms" that screwed over the little guy. Of course, the market hasn't gotten better.

 

It says “very small percentage” not leaving Florida.

Curious what type of homes, age, etc., and where they will not be renewed?

I think the coastal areas are going to be more affected than homes away from the coast. I just bought a 3 year old house inland and didn’t have an issue finding insurance. It’s not in a flood zone. My premium is just under $1500 a year for a 512K home.

The roof issue needs to be addressed. That’s where DeSantis has failed imo. Too many “legal” roof scams through “assignability” under the currents laws/rules. Assignability is the devil.

 

My insurance only went up 2k waiting to see what the flood quote is.

 

Yeah I agree. I live in Birmingham and the last 3 roofs since 2010 have cost 5 figures. $4K? More like you got a crew that slapped shingles over an existing roof which if they did, you just cut the life in half of those shingles. Worse, your house most likely will be about 8 degrees warmer in the attic.

Now I do get to compare somewhat between both Alabama and Florida and Florida's insurance has been much much higher than Alabama since we bought a place in Pensacola in 2010. Insurance on a 900 sqft townhome in Pensacola costs more than a 5,000 sqft home on 7 acres in Pelham, AL. It's been like that since we bought the place and the gap is increasing. Furthermore, over the last 13 years, I have found only 2 companies that will insure a townhome in Florida and none of the Big 10 will write a policy. The only one I can find that doesn't cost $2,500+ is Universal Property and Casualty, but it did break $2K last year so it won't be long before I'll be seeing $2,500. And I haven't ever filed a claim in all these years. When my mom passes, I'm putting the townhome up for sale and I'll even take a loss on it just so I can get rid of it. It's the worst decision I have made since buying a timeshare (which I finally got rid of 8 years ago).

 

We had State Farm for years and when we sold our long time home in Clermont 4 years ago, they were not writing new policies. I wonder what happened??

 

We had to get Citizens because we bought a 1925 craftsman and it is on a raised foundation. We renovated the home and it already had had the wiring and plumbing replaced. Underneath the home is foam insulated. We rarely even see a bug in our house. If we were to sell I would list it somewhere north of $700k., but we didn't have to buy flood insurance this year. It did go up $673 to $3,900/year, but I guess they used the Zillow "zestimate" to figure my home's value.

 

Interesting. Must have been timing because I switched to State Farm last May.

 

When I went house hunting in April there were 3 major items I wanted.

A house less than 5 years old.
Nowhere near a flood zone.
Inland and away from the coast.