Love the honesty in this video. We planned to buy a second home in SWFL but put it on hold due to what we heard about the increased expenses. Home builders we talked to denied these increases.
You think insurance is bad, wait until you have to pay the local county property tax. You can shop insurance but not your tax assessor. Be prepared to bend over at tax time.
Yea, wish they could fix it. ...but it doesn't really sound like it'll really get fixed. Makes Florida a very hard decision. Great video. You guys are great! Thank you.
I hope it gets better for the people in Florida, that’s just crazy, so many are wedged in between, for myself Florida is just not the place to be, there’s just little that appeals to me about it ,and what’s going on there in the last couple years, it’s just outrageous, But good luck to those people there.
I love it here in Port Charlotte, but I'm selling my home and heading back north in large part because of the insurance situation I'm seeing. My car insurance alone will go down $100/month. Not only is homeowner's expensive, but after Ian many of the carriers treated their customers quite badly, and the state was not there to help. So many houses around me still damaged, people not made whole. Even though my 18 year old tile roof came through hurricane Ian just fine and doesn't leak, I am concerned that my buyer will not be able to find insurance for the house because of that, as this video mentions can happen. Despite the recent legislation, my homeowners premium still went up this year. Should the area bit hit with another big hurricane then all bets are off- the carriers will need to raise rates (again) to offset the losses. It really is a sad situation, takes some of the fun out of living here. I feel badly for those who decide not to retire here because of it.
Property taxes are crazy, Insurance is stupid high. I am at the point that if I want to retire, I will have to leave my home in Florida and move elsewhere. That was not my retirement plan. I am a Florida native. For people that have a high income, they can self insure. My house has never flooded, yet FEMA rezoned me into a flood zone. So the insurance is higher and PLUS I am required by the mortgage company to have flood insurance which makes it DOUBLE. With property taxes, it's approaching 10k total. How can anyone on a small fixed income support that? They cannot!!! I am working my ass off to pay off my mortgage so I can try to figure out how to drop those totals. Drop the Flood insurance for sure.. Hopefully be able to get some insurance that isn't out to gouge me... otherwise I will have no other options. Insurance has become a scam. They no longer work to help the insured. Their goal is to get as much cash as possible and to deny as many claims as possible. It's all about making more profits for the shareholders. Same as the Healthcare industry now. I work in healthcare and if this is the typical model for all companies, we are all doomed for failure unless we are at the top of these companies. The workers, the people being served are all at the bottom..
Good video. Unfortunately, I have a repaired sink hole house and only can go to Citizens. USAA will not insure my Florida home. If I was on active duty, they would write a policy. My father had AMICA home owners insurance for over 30 years. AMICA is a great insurance company. AMICA will not write new homeowners insurance inf FLA. If AMICA decides to begin writing new policies in FLA as then you will know that the insurance issues in the state are fixed/profitable. My brother in law worked for AMICA for over 35 years. He told me that AMICA will go to the re-insurance market and buy coverage for very specific areas, storm, dates and times to protect themselves. Only the big boys can do this kind of very specific re-insurance. The small companies in FLA can not do these short limited polices so they have to buy re-insurance coverage for most of the year.
Interesting…credit effects rate? Probably associated with character. I have considered going bare, still am. Have avoided dropping because if I dropped my homeowners my company won’t let me go back…at least for now. Be honest and expect honesty from your insurer. For the last 52 years I have insured with USAA.
@kerilotta5421 Hi there! Yes, he works with Urb + Young, they are an independent insurance agency in Florida. If you have any questions or concerns when planning your potential move, definitively reach out to them! www.erbandyounginsurance.com/
well after watching a bit, I realized that you have no idea why people seek out attorneys. they do it because the insurance companies want to pay PENNIES ON THE DOLLAR to rebuild homes! If you were told that they are only going to give you 100k dollars to rebuild your 500k home, what the hell would you do????
My car was stolen years ago and my insurance company gave me an amount that they would pay. In essence, they were buying my car from me and I would not have sold it for that amount so, to me, that was only the beginning of the process. I provided ads from the newspaper for my same year, make and model that were for sale. Also, my car had low mileage, new tires AND a spare tire. It all added up to a much higher claim settlement. The moral of the story-- the offer is just the beginning of the claim settlement process.
I would love to watch you mediate your claim in Florida. The mediators all work for Citizens. If you have a dispute with your insurance claim in Florida now you have ZERO options. Bad faith is gone.This guy is an insurance company lobbyist.
The insurance issue is one factor that has us pausing a future in FL.
Same here. Taking a second look.
Love the honesty in this video. We planned to buy a second home in SWFL but put it on hold due to what we heard about the increased expenses. Home builders we talked to denied these increases.
The insurance issue is why we haven’t moved to Florida. We had such dreams and plans but we had to put those to sleep because of insurance.
You think insurance is bad, wait until you have to pay the local county property tax. You can shop insurance but not your tax assessor. Be prepared to bend over at tax time.
We have been planning to retire to Florida for 2 years and have a-little over a year before we are able too, but this has been giving us some doubts.
Excellent video! We live in Florida and our rates went up $100 for the year! We were very excited!
Mine went up like 35% renewed in November notice came in like August from citizens
Yea, wish they could fix it. ...but it doesn't really sound like it'll really get fixed. Makes Florida a very hard decision. Great video. You guys are great! Thank you.
I hope it gets better for the people in Florida, that’s just crazy, so many are wedged in between, for myself Florida is just not the place to be, there’s just little that appeals to me about it ,and what’s going on there in the last couple years, it’s just outrageous, But good luck to those people there.
I love it here in Port Charlotte, but I'm selling my home and heading back north in large part because of the insurance situation I'm seeing. My car insurance alone will go down $100/month. Not only is homeowner's expensive, but after Ian many of the carriers treated their customers quite badly, and the state was not there to help. So many houses around me still damaged, people not made whole. Even though my 18 year old tile roof came through hurricane Ian just fine and doesn't leak, I am concerned that my buyer will not be able to find insurance for the house because of that, as this video mentions can happen. Despite the recent legislation, my homeowners premium still went up this year. Should the area bit hit with another big hurricane then all bets are off- the carriers will need to raise rates (again) to offset the losses. It really is a sad situation, takes some of the fun out of living here. I feel badly for those who decide not to retire here because of it.
Good discussion and way overdue
Really struggling, meds and insurance for the low mid class are let go of in order to pay for food and lot rent...but for God.
I really liked your video.
. I put my house on the market in CA. Worried about those issues.
Property taxes are crazy, Insurance is stupid high. I am at the point that if I want to retire, I will have to leave my home in Florida and move elsewhere. That was not my retirement plan. I am a Florida native. For people that have a high income, they can self insure. My house has never flooded, yet FEMA rezoned me into a flood zone. So the insurance is higher and PLUS I am required by the mortgage company to have flood insurance which makes it DOUBLE. With property taxes, it's approaching 10k total. How can anyone on a small fixed income support that? They cannot!!! I am working my ass off to pay off my mortgage so I can try to figure out how to drop those totals. Drop the Flood insurance for sure.. Hopefully be able to get some insurance that isn't out to gouge me... otherwise I will have no other options. Insurance has become a scam. They no longer work to help the insured. Their goal is to get as much cash as possible and to deny as many claims as possible. It's all about making more profits for the shareholders. Same as the Healthcare industry now. I work in healthcare and if this is the typical model for all companies, we are all doomed for failure unless we are at the top of these companies. The workers, the people being served are all at the bottom..
Great video, very good subject.
Super Higher premiums and lot less coverage// 1% matching, 10k caps on water damage, ACV roof. List goes on.
Good video. Unfortunately, I have a repaired sink hole house and only can go to Citizens. USAA will not insure my Florida home. If I was on active duty, they would write a policy.
My father had AMICA home owners insurance for over 30 years. AMICA is a great insurance company. AMICA will not write new homeowners insurance inf FLA. If AMICA decides to begin writing new policies in FLA as then you will know that the insurance issues in the state are fixed/profitable.
My brother in law worked for AMICA for over 35 years. He told me that AMICA will go to the re-insurance market and buy coverage for very specific areas, storm, dates and times to protect themselves. Only the big boys can do this kind of very specific re-insurance. The small companies in FLA can not do these short limited polices so they have to buy re-insurance coverage for most of the year.
Interesting…credit effects rate? Probably associated with character. I have considered going bare, still am. Have avoided dropping because if I dropped my homeowners my company won’t let me go back…at least for now. Be honest and expect honesty from your insurer. For the last 52 years I have insured with USAA.
I haven’t watched it all but. Does he sell insurance? Insurance specialist ?
@kerilotta5421 Hi there! Yes, he works with Urb + Young, they are an independent insurance agency in Florida. If you have any questions or concerns when planning your potential move, definitively reach out to them! www.erbandyounginsurance.com/
well after watching a bit, I realized that you have no idea why people seek out attorneys. they do it because the insurance companies want to pay PENNIES ON THE DOLLAR to rebuild homes! If you were told that they are only going to give you 100k dollars to rebuild your 500k home, what the hell would you do????
My car was stolen years ago and my insurance company gave me an amount that they would pay. In essence, they were buying my car from me and I would not have sold it for that amount so, to me, that was only the beginning of the process. I provided ads from the newspaper for my same year, make and model that were for sale. Also, my car had low mileage, new tires AND a spare tire. It all added up to a much higher claim settlement. The moral of the story-- the offer is just the beginning of the claim settlement process.
I would love to watch you mediate your claim in Florida. The mediators all work for Citizens. If you have a dispute with your insurance claim in Florida now you have ZERO options. Bad faith is gone.This guy is an insurance company lobbyist.