Not just homeowners insurance, my auto insurance has more than doubled in the last year

@rolandthethompsongunner64

7 ай бұрын

Mine hasn’t and I have two at fault accidents. 😂

@benchoflemons398

7 ай бұрын

@@rolandthethompsongunner64make sure you’re actually insured for the right amount.

@MaksimSSM

6 ай бұрын

Kosher!

@grantg701

6 ай бұрын

Yes, my autoinsurance increased 25%

@rayfridley6649

6 ай бұрын

Not only residential insurance, commercial insurance as well.

It's been a mild hurricane season. Florida is one bad season away from descending into chaos.

@info781

6 ай бұрын

To cover any losses you just have to implement a state tax, not popular but a solution.

@BarrierIsland

6 ай бұрын

No, we don't do state tax...@@info781

@anniesshenanigans3815

6 ай бұрын

@@info781 funny. We already have high property taxes, sales taxes, and insurance is ridiculous.. You think we could afford yet another tax? that won't work. Unless it's just to run us out of the state. which is what i think is underlying all this.. Run out the natives and let the rich and sleezy stay here.

@info781

6 ай бұрын

@@anniesshenanigans3815 Of course , but right now Citizens in FL does not have enough money to cover another Ian and if Citizens runs out of money all tax payers in FL have to pay, that is why they are trying to move people to private.

@ar3421

2 ай бұрын

If there's no sales tax, where else do you think they'll rely on? Homeowners?

It’s because for decades Florida allowed contractors to sue insurance companies for many times fraudulent claims. The lawyers made millions so did the contractors. 😂

@info781

7 ай бұрын

That was a huge part of it, and FL layers are mad about losing the one way fees.

@jofujino

7 ай бұрын

That's a part of it but it's more complicated than that. Part of it is the cost of construction/repair has greatly increased. Part of it is that climate change, especially in Florida is greatly increasing risk. Part of it is that the reinsurance market is trying to derisk and so reinsurance costs for Florida are skyrocketing. Part of it is that is past bankruptcies of Florida insurers have decreased the number of insurers willing to give you quotes, and many other insurers aren't writing new policies because they are scared about the quality of the people shopping for home insurance right now (many insurers are not renewing their more dangerous/costly customers so if you're shopping around the insurers are going to assume there is a higher risk you are a lemon/high risk homeowner). Finally, the Southside condo collapse also revealed that a lot of condos in Florida, especially the beachfront, are at risk of being behind on maintenance and tougher state regulation will increase the amount of required maintenance they have to cover.

@info781

6 ай бұрын

​@@jofujinoGood comment , starting in 2025 condo fees are going way up you can't defer maintenance anymore.

Thank the roofing contractors, and general contractors

@info781

6 ай бұрын

They drove lots of companies out.

@jenna5191

Ай бұрын

Thank the governor who collected millions from the insurance companies for his campaign. If they are so broke how did they afford that? It’s public information who donates to campaigns

Where is our governor? On the campaign trail. MIA. No way do I want him as president.

@nicholasthompson7690

7 ай бұрын

He's a joke

My insurance has gone from $1,530 to $2,500 and when renewal hits in April it will go to near $5,000 and as a 100% disabled vet I can't pay it. I had the house on the market from Halloween till Christmas but house prices have dropped too much. Not just the rates by the way but they are going to require me to get a new roof next year when it is 15 years old. That will be another lump cost of $30,000 on top of these insane premiums. My only option will be to just drop homeowners insurance and pay for the forced insurance from the lender. All that covers is the principal balance on the loan. No liability insurance, no coverage in case of fire or storms. And it is still $4,000. This is probably the year I will lose my house. And insurance is the reason why. There is a lot of insurance fraud in Florida, but 98% of the insurance fraud is on the part of the insurance companies.

@info781

7 ай бұрын

Those are some strong claims, that 98% of fraud is in the insurance companies. Lawyers made a fortune on those one way fees and killed the golden goose driving almost every company out of the state. Anyone who has bought a house before 2022, is way in the money, house prices have gone way up in the last few years. .

@megandonahue9220

7 ай бұрын

I won't be able to sell because the HOA and insurance is almost as much as the house payment and they doubled in 2 years. I will have to walk away from my home.

@anniesshenanigans3815

7 ай бұрын

You are spot on!! My insurance is over 6k now. And to clarify your statement about the insurance fraud by the insurance companies... for those who say you are wrong.. I ask them to look at the huge profits that insurance companies are making and tell me that isn't fraud when they claim they are losing money. Insurance is a scam.. I have said it for years... I made a vid about it. I am so PISSED. I had a huge savings account, and I have now paid it ALL to my mortgage so I can pay it off and dump the insurance gougers.

@anniesshenanigans3815

7 ай бұрын

@@info781 fraud or scam. They claim they lose money but if you look at the financials they are making huge profits.... otherwise why would they be in business??

@info781

6 ай бұрын

​​@@megandonahue9220If you have only owned it for 2 years, yes you will lose money. The OP has owned for longer.

It's greed. I am in hurricane proof and tornado proof McAllen, Texas, and my insurance premium jumped 20%.

Who would have thought that massive building on recovered swamp land in an area prone to hurricanes would be a problem?

NONE of the insurers in Florida now offer both car and home policies. You can get a bundle of auto+home from State farm but the home policy is through an affiliated company not State Farm, and that policy even with the bundle discount was more than $1,500 higher than getting car insurance through GEICO and house insurance through Citizens. So what few avenues for bundling there are save you nothing but cost you more. And if you are on a fixed income like me as a disabled veteran what would be the point of insurance with higher deductibles that are so big I can't meet those? I would still end up losing my house. Search for discounts? A lot of companies sell insurance but only 5 or 6 underwriters are left in the state and those are the ones who will determine your rates. You can shop around to every agent and every company selling insurance, but it would take you less than an hour to get the lowest rate and the highest rate. I shopped around in 2022 and found rates from $3,400 to over $11,000 per year, I am 66 in the spring and never once had a claim in my life, and am at 90 feet so no flooding even possible.

@anniesshenanigans3815

7 ай бұрын

and yet I bet they want you to buy flood insurance. My house is over 50 years old. SWFL. Never ever flooded. And now they say I have to have Flood insurance if I want any insurance.

@info781

6 ай бұрын

​@@anniesshenanigans3815only on Citizens.

And nobody likes to talk about the elephant in the room, the future hurricanes and major storms, causing billions of dollars of more damage which will have to be accounted for through insurance. You would be fooling yourself to think your premiums are going to be less in the future.

$3100 last year. $6200 this year. $9300 next year. Lol.

@anniesshenanigans3815

7 ай бұрын

1300 last year. 6000 this year. next year who knows.

Of course insurance companies are going to tell you going bare is the last resort. If you can save 100k or better in 5 years and not take a hit do it.

@info781

6 ай бұрын

It is a personal decision I don't buy repair insurance for my transmission because I could afford a new transmission.

@jlam3927

6 ай бұрын

If you get hit before you accumulate enough money to cover you're going to be in big trouble.

@rolandthethompsongunner64

6 ай бұрын

@@jlam3927 You’re in trouble regardless 😂

@anniesshenanigans3815

6 ай бұрын

@@jlam3927 insurance companies don't want to pay for claims... that is the biggest issue. They want to take your money and never pay a claim. and take forever. There are homes here still not repaired because insurance thinks a roof should only cost 5k when it's going to be double that. They are useless.

I was planning to move to FL for the last three years. However, watching the weather disasters, the rapid increase in population, increase in the cost of living and especially the insurance crisis and price increases. I decide that retiring and moving to FL was no longer an option. I wonder how many more people made the same decision.

@winstonrobinson6732

7 ай бұрын

Anyone who has been planning to retire in FL needs to rethink the plan. This will only GET WORSE over time.

@rockpadstudios

7 ай бұрын

I thought about it also but now no way

@diyfferent

6 ай бұрын

We moved to Florida in 2021 and we are loving it 100%.

@info781

6 ай бұрын

Boomers are 58-77 years old they will be coming for another 10 years.

@hitherefrompointswest4805

6 ай бұрын

I, too, am reevaluating. What was an easy decision is no longer so. No Income TAx? the cost of Florida for insurance and others FAR outweigh it

I’m JUST turned 25 and my Geico insurance went from $170 to $879 on a 2021 kia forte … I’m giving it up ! I don’t know what to do

@anniesshenanigans3815

7 ай бұрын

get an old beater car... over 8 years old. that will help.

@nicholasthompson7690

7 ай бұрын

Flee FL

@AmericanKendoll

7 ай бұрын

@@nicholasthompson7690 oh wow ..ok I was planning on it eventually

I would move out of the state and not deal with these headaches.

@anniesshenanigans3815

7 ай бұрын

easy to say, not easy to do.

@nicholasthompson7690

7 ай бұрын

I'd never move to Florida AT ALL

@diyfferent

6 ай бұрын

Every single state has its issues. But Florida is one of the best states in the country.

I live in Broward County FL , had CITIZENS INSURANCE for many years . never made a claim and last year (October 2023 ) they sent me a letter saying WE ARE CANCELLING YOUR INSURANCE (Insurance would have ended December 18th 2023 ) BECAUSE YOU NEED A NEW ROOF , and i was thinking : WELL, I NEED 30 THOUSAND DOLLARS TO GET THAT " NEW ROOF " that according to Citizens i need to change every 15 to 20 years ! so i put every single extra penny i had into paying my mortgage to CHASE BANK , which at the beginning of 2023 was around 29,000 and by January 25th 2024 i finished paying it off completely and i am going BARE , no Citizens , and no other insurance that would have me pay 6-8-10 thousand dollars a year , to only give me a HARD TIME if i dare to make a claim and raise the fees on me even more . They LOVE IT when you pay them on time , but if you dare to make a claim they do anything and everything TO NOT PAY YOU , and i had it , officially !!!!

I read an article yesterday and one of the considerations was a $200 rebate on the insurance 😂

@nicholasthompson7690

7 ай бұрын

That's a joke

The price we pay for warm ☀️ weather-smh

State commission for insurance are the problem. At this rate, state should blow private insurers and expand public, which should focus on customers experience.

@rolandthethompsongunner64

7 ай бұрын

You think state governments can socialize homeowners insurance?😂

@anniesshenanigans3815

7 ай бұрын

agreed. I sent an email to these people and got NO help at all.. Just a wordy email back pointing the fingers at FEMA and the Mortgage company.

@info781

6 ай бұрын

FEMA is socialized insurance but the government is bad at price discovery.

Our insurance regulator has no self regulation. Look at him. This is not a disciplined person come on who put this man in charge.?

@info781

6 ай бұрын

It is the south.

The dream of trading it all in for an ocean front condominium has turned into a nightmare...

Insurance companies recommend not not insuring. Who'd have seen that coming?

not just florida, oklahoma insurance is insane due to tornado and hail damage many people have had rates double since last year, ours jumped 60 % and we have 25 thousand deductable

How much money do the Florida legislators receive from the insurance providers? Maybe worth a look.

How highs the water momma? Two feet high and rising. --Johnny Cash

It's terrible I'm a realtor in Florida don't bother moving here you won't get homeowners insurance and if you do you're going to pay tens of thousands of dollars on the water and 5 to 10,000 in the center of

@vblic

6 ай бұрын

Even a brand new home in certain counties in Flordia?

The law taking away the companies paying for attorney fees was nothing more than a cash grab from insurance companies. Now just how much reason do they have to pay a claim, if they know you'll have to pay tens of thousands to an attorney to sue them as they drag out the legal process as long as they can in an attempt to drain you. The solution is simple....if a company or parent company offers home insurance anywhere, they cannot offer other insurance in Florida (car, life etc.) unless they also offer home insurance. - Insurance companies have become far too large, and now want to collect premiums only if the risk of having to ever pay out is very low.

@winstonrobinson6732

7 ай бұрын

this is not a problem with insurance companies - they have to leave FL due to the RISK. The ones hanging in must charge much more in order to have funds to pay out for the huge disasters.

@info781

6 ай бұрын

Sending any money to lawyers is a waste.

@rolandthethompsongunner64

6 ай бұрын

Large insurance companies are more able to absorb loses than small ones. Clearly you don’t understand how insurance works.

Ask rural americans what these home insurance companies are expecting from them as well. They are canceling home insurance in the middle of nowhere as well. Check it out.

@benchoflemons398

7 ай бұрын

Well, yeah, there’s no FD and there’s a lot of land meaning a lot of liability

@loricrane5315

6 ай бұрын

No idea what your point is about . Because there is a lot of land we should not have it ? Wtf

I bought property in a less hazard riden state and will be putting in a mini house doing most of the work myself - I will just not have insurance.

This governor's all about tackling politically symbolic issues and avoiding real ones. Consistently he abrogates his responsibility for the sake of ambition.

@nicholasthompson7690

7 ай бұрын

He's horrific

@info781

6 ай бұрын

True but his base gets excited when he does that stuff, they don't get excited over insurance.

I canjust see that call. "Ma'am, I just ran the numbers for your annual Homeowner's Insurance and I am sorry but I have to make you aware your insurance cost will be going down by 10%" :)

you buy a house 10 inches above sea level, make sure you can afford the insurance. not rocket science

@anniesshenanigans3815

7 ай бұрын

well I have to explain to you that my house is over 50 years old. Inland from any waterway. Never ever flooded. YET FEMA rezoned the area so that the insurance companies can FORCE me to have FLOOD insurance if I want ANY homeowners insurance at all. That doubles my insurance. DOUBLES it. So if I want coverage for ANY REASON at ALL. I am FORCED to buy the flood insurance as well.

@johnny316b

7 ай бұрын

bullsh, you can buy insurance without including flood insurance&t@@anniesshenanigans3815

@bobroberts2371

6 ай бұрын

@@anniesshenanigans3815 If your house flooded ( remember floor zones change from time to time ) would you seek some sort of govt assistance? Also know that " Flood " is considered and water that enters from the land surface or sub surface. This might include very severe storms. And, how about you starting an insurance co to help your neighbors?

That term “LOOKING INTO IT”, meaning, right after I take a 💩

I will NEVER move to Florida. The rental mess, insurance mess. Anti lgbt. They need a lot of help. The gop isn't doing much to solve it at all.

@diyfferent

6 ай бұрын

Florida is awesome. Best state we've ever lived, by FAR!

And the story just before this one was that inflation has come down 🧐

Gouging, get it while you. If you own your home, property or vehicles you have no worries. That being said the greed in the world can all be taken away

@bobroberts2371

6 ай бұрын

Then start an insurance co and do a better job, you will have instant customers. Also, how about explaining ho insurance works ( RE Shared Risk )

Going bare.....trusting to luck.

I think this is an excuse........not litigation.

Beauty comes with a price!!!

Look up the insurances stock portfolio, prospectus. What I read is that there future looks brighter due to high premiums from higher rates for home insurers Really sad for seniors, fixed income homeowners

It's time to start or keep calling the insurance commissioner as the insurance companies claims have fallen drastically, yet there is no relief for the homeowners. Furthermore, property taxes have doubled and what are we getting for that money? "0"

Add that to the INSANE HOA Fees and possible Mortgage and all the Hurricanes to deal with, it is making Florida UNAFFORDABLE to Retire there now.

@info781

6 ай бұрын

Many will have to move elsewhere, but there are many cheaper places to live.

The state needs to regulate insurance companies profits and limit them to 2% or less annually.

@info781

6 ай бұрын

In other words you don't want free market you just want everyone on Citizens? Public sector has trouble with price discovery, they are under charging now.

@bobroberts2371

6 ай бұрын

So why are you not opening a insurance co and limiting yourself to 2% profit?

Buying a home that has had claims is risky , in my opinion. How many people actually fix the repairs correctly. Meaning how much money do they pocket instead of lets say replacing kitchen cabinets , then just painting them. When they needed to be replaced. There should be law to follow up on those repairs. Because then it will become a headache for futrue buyers and insurance company I believe. How many people actually like to inflate a claim just to profit from it. These are other issues that should be looked at. In my opinion.

Going bare and having a catastrophic storm and take your home along , but your land is going nowhere ,so you can rebuild on your own land ,or sell the land

It's time to boycott insurance. I am paying off my mortgage as soon as possible.. and dumping the price gouging insurance companies. the regulators are USELESS!!!!!! I sent them an email and got one back pointing the fingers at other entities. NEVER addressing my issue at ALL. That insurance commissioner is USELESS!!!

@bobroberts2371

6 ай бұрын

Maybe time for you to start an insurance company. Will you help these people?

@glendarp9598

5 ай бұрын

And who are you Bob? I see you have posted the same brainless post throughout the threads. How about our legislators do their jobs instead of using these companies as cash cows? Ohh wait..that's the reason we are in this situation. Because it's all a dirty cash grab from the top down. This didn't happen overnight and your solution is a disgrace.

Hey if that insurance commissioner wants to pay peoples insurance bills until it "levels out" I can send him mine. All that is double speak for "in time it will stop doubling" instead of going down.

Channel with 835k Subs can't upload video with stereo sound. Slow clap.

@selfmade7411

7 ай бұрын

lol I was thinking “wtf is wrong with my phone” 😂

I had to adjust my budget so bare. Not much i can do!

Insurance agents make a percentage of the policy, you think they're complaining?

@vblic

6 ай бұрын

Why would you think that?

@jlam3927

6 ай бұрын

@@vblic Really? What part don't you understand?

what’s with the garbage sound on interviews only playing on left or right speaker

One day, FL may be a destination for camping/vacations during times when hurricanes and floods are less of a concern

@info781

6 ай бұрын

Bad weather is everywhere my friend.

You can bet Duhsantis got plenty rich …blame him,he allowed it.

Move to the midwest!!

They are doing it because they can

It's not like nobody saw this coming.....right?

@info781

6 ай бұрын

Ian was big, hopefully not another one like that for 20 years.

@dgibbsfl

6 ай бұрын

@@info781 I lived in Florida for 27 years. If you live there, best of luck.

@info781

6 ай бұрын

@@dgibbsfl Florida real estate has been boom and bust for the last 125 years, if you understand the history, you can prosper. Many folks don't understand the booms and busts can last decades. Boomers are still coming for next 10 years. I am sure you know what I mean.

There are over 300,000 lawsuits pending against Florida insurance companies but litigation isn’t a problem?😂

@benchoflemons398

7 ай бұрын

Well the idea is that even if the fault of the insurance company is limited they still have to pay the plaintiff, attorneys fees, and so therefore they will just settle. That is no longer the case. All lawsuits being filed now are almost certainly legitimate with substantial damages.

@info781

6 ай бұрын

Most of those are still under the old legislation.

@rolandthethompsongunner64

6 ай бұрын

@@benchoflemons398 300,000 cases are pending. I seriously doubt they’re all legitimate.

don't build there

When the cost to build a house doubles the cost to insure doubles. We thought we were safe in Florida but no one is safe from the cost of the Wuhan lockdowns.

@Dowell318

7 ай бұрын

No one is safe from the cost of printing TRILLIONS out of thin air. There, fixed it for ya.

@manbtm1

7 ай бұрын

Wuhan Lockdowns? You’re watching too much, Fox News, try mother nature who is not going to be gentle in the future on Florida, as well as greedy, crooked, insurer agents, and contractors. Has nothing to do with Wuhan.

@gregorylyon1004

7 ай бұрын

I can't believe that anyone with less than a million dollar portfolio can live in Florida. I left 20 years ago and never looked back. I seen building sites for sale in Port St Lucie for $99K. And here I was earning $20K . Lol. I figured at that rate I could own a home by age 80. Bye

@carylhalfwassen8555

7 ай бұрын

$20k per year earner is not able to purchase and maintain most property.

@francismarion6400

7 ай бұрын

@@carylhalfwassen8555 No, it's a minimum wage teenagers pay.