Homeowner searching for answers after being dropped by Florida Peninsula Insurance
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- Опубліковано 27 сер 2024
- Ruskin homeowner Lionel St. Hilaire emailed ABC Action News for answers after receiving a notice of non-renewal from Florida Peninsula alerting him that he would be dropped in the middle of hurricane season.
When the politicians in Florida allow the insurance companies to determine state policy as a favor for political donations, this is what you get.
so what do these homeowners do?? I've never been to Florida, looks beautiful, but finally you got to cut your losses and move on
so helpful and empathetic
Stay in your flyover UncleDave, you wouldn't last a minute in Florida with your boomer mentality
Yep, so glad my homeowners pulled out of coastal states in Oct 2022. My rates went down a bit in 2022 and more in 2023. Answer FEMA if you want to live in coastal area the rest of the U.S. should not have to help fund.
pay off your home, drop the insurance, keep a separate account for repairs with the money you saved by not having insurance. this has been a growing way people have been dealing with this issue. if you don't have a total loss of your home in 20 years, you will have enough in your account to rebuild your home. if you never have a total loss, you have enough to buy a second home or a decent retirement fund supplement. most people do not live in total loss hurricane paths, like i do in central florida. worst i have seen is a cat 2 over us, and it only took a couple shingles off my roof and made a mess of the yard. my homes have been 70 years old and 45 years old and survived countless hurricanes because i continually trim my trees every year to keep them healthy.
We just buy cash and don't have $800 car payments
Mine tripled in one year. It’s ridiculous. Insurance rates utility rates and taxes go up. Salary remains stagnant. I work full time and I am still below the poverty level. I am living paycheck to paycheck and I have almost no debt except a mortgage. My escrow for taxes and insurance is higher than my mortgage payment! I pay 530 for principal and interest and 750 for insurance and taxes. I think homeowners should be able to opt out of insurance. Let the mortgage companies hold the policies on the loans. Same for cars. Force lien holders to carry coverage for loss. Don’t allow it to be passed on to consumer. Florida holds us hostage with insurance nonsense.
We can expect property taxes to go even higher if federal income taxes on high earners get cut after the election. The money for schools, police and roads has to come from somewhere, and the money that flows to states and localities from the fed gets squeezed every time to there is a cut on federal income.
The comments people make when they don’t think it through first. Sure, lien holders can put insurance on the houses/cars, but where do you think they are going to get the money to do that?
From you.
you just said that lienholders should carry the coverage for a loss, guess what that means? you pay even more for allowing them to choose which insurance to put on your property. unfortunately this is the way the world works, if you have a loan the banks won't give loans if they have to take full responsibility for someone who buys a house covered with 70 year old trees in a hurricane zone. i actually had that on my first home, the bank provided their own insurance when i failed to provide my own, it cost more than if i had shopped around.
@@aliannarodriguez1581that is the stupidest thing I have read all day.
Move to another state.
New home and still got dropped.
maybe insurance companies should be fixing roofs instead of replacing them as a whole, while roofers are charging $25k+ for a roof that should cost $10k. there's new home developments all around me, after every hurricane i see blue tarps on homes with roofs less than 2 years old. you can guarantee they got brand new roofs too. the stupid part is, almost every roof is going to leak in 100mph winds, it doesn't mean there is a problem with it. it's a legal scam, and we're paying the price by not making claims on every little thing. so i dropped my insurance and keep a separate account for potential repairs, it's highly unlikely i will ever have a total home loss in central florida meanwhile i'm paying premiums like i owned a home in the keys, so i gave them the middle finger.
We were dropped by fl Penisular. My agent said 3 other people on our stree also are with them and didn't get dropped, she said they literally pick out of a hat. We had new roof, ac, hurricane straps, 4 point, complied with everything. Houses on my street in much worse condition. Head scratching!
They dropped me too and their reasoning changed 3 different times. It is super frustrating! Time to file Better Business Bureau complaints!!!
🤡 lol
Any one living within 10 miles of any coast should not be able to get home insurance. Anyone putting solar panels on their home should pay 1000 % increase for insurance. There should be any government program to update your home. You live there pay.
There are no solutions you have to sell.
Hurricanes are hitting Florida this year especially North Florida coastline. Get Insurance for Hurricane damage NOW ! ❤❤❤
I had applied back in February of this year and even got my first inspection for my roof. I was told that after I got my roof done I would have to call for a second inspection. Well I got my roof done and called for the second inspection and was told that I would have to wait and call in July because they ran out of funds. I called July first and couldn't get thru so I had pressed the number on the phone so that I could get a call back from MSFH. When they call me back it was they same person that told me about no more funds being available and now she tells me that I was suppose to wait for my second inspection and approval to get my roof done and get the funds for it. Even though I had gotten my application done in February. Now I'm out of 12k. I'm retired and that was the only money I had left. Sometimes I think that is all a scam. I also feel that not all the funds have gone to the home repairs but into someone's pockets. Think about 200 million dollars.
I think the FL Peninsula insurance is refusing to respond to the reporter's emails.
It takes really deep pockets to live in Florida.
I want insurance without hurricane coverage. Should be doable Governor.
I'm thinking your mortgage holder might not care for your idea.
@@steven4315 house paid off so it's certainly a choice I should be able to make... but it doesn't work like that says the INSURANCE COMPANIES
@@angusmorrison9433 Insurance companies are private businesses. While regulated by the state they operate in, they are not generally required to write policies that conflict with their business plan. If a state makes a regulation that an insurance company thinks will make a state unprofitable, they are free to exit the state.
My policy with Florida Peninsula was also cancelled for “solar panels on a metal roof”
I had been with them for four years in Sarasota. The panels were on the roof when they first wrote the policy. I have had no claims, yet my policy increased over 50% in those four years. In January I was notified of “non-renewal” due to the solar panels which are to assist with domestic hot water heating. (Energy Savings)
I am now “self-insured”. H.O. Insurance in Florida is a joke.
“Home insurance crisis” please
Stop selling houses if you need insurance or mortgage companies need to underwrite their own policies!!
Go uninsured, roll the dice on your savings to cover a natural disaster, and hope for a speedy repair by competent contractors, because you live in Florida.
What’s the cost of climate change now?
Sounds like a red state problem lol. Florida is new California
That blonde hair isn’t yours. Just isn’t.
Move out
Pathetic.
Wth is desatan???? Too bust in his efforts to fk the poor,,, but forgets the homeowners insurance scam.
Love red states
Maybe all men aren't created equal after all
Because he can't speak English.
Oh well that sucks. Maybe All the Californiana and new yorkers can go back home and leave Florida to us natives 😅😮
Florida hahaha 😅
iT’s fLoRiDa.
wHo kNeW tHaT hUrRiCaNs hApPeN tHeRe?!…