Thank you for posting this video Katrin. Hopefully, homeowner's insurance rates will start coming down in Florida if I move to inland Central Florida by late 2024/early 2025. I think I know the KZread channel you are referring to hyping the Florida homeowner's insurance situation. It's pretty obvious this person is trying to drum up business for their real estate business in another state.😮

@katrinreal

Жыл бұрын

that's the video :)

@s99614

Жыл бұрын

Jerry Pinkas

@myk55501

Жыл бұрын

Hey, No I'm in central Fl. and a Floridian my auto and home is going up again also electric DUKE sucks. Then add property taxes increases I would look at other states even cold ones new england . Big companies are starting to pull out Banks, Insurance companies. If we get another hurricane game over mortgages would be in default with no insurance.

@mikeforte7585

Жыл бұрын

​@@myk55501I have been living in Central Florida for 50 years...my homeowners insurance went up 150%....driving is utter hell....so car insurance is insane...I was just up north and they think I live in the land of the supernatural...my friends who live here just laugh at the BS people up north think about this place...every thing is way over priced...nobody lives the fantasy life style they think we do...u don't buy houses u over bid on the them..I've had friends killed...stuff stolen from my house..the roads have weekly fatalities..

@charlieporch3181

Жыл бұрын

Prices will never come down in Florida. Too many claims.

I’m closing in on my retirement and I’d like to move from Minnesota to Florida, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways.

@JenniferDrawbridge

Жыл бұрын

Interest rate is currently at 4.75%(8th rate hike since March last year) Inflation at 7% and mortgage rates is at over 7.5% but yet minimum wage remains the same and my retirement portfolio has suffered tremendously these past years, so my question is how do senior citizens retire and live off such unstable economy. The long term game is obviously not for me at this point.

@AntonioBianh

Жыл бұрын

A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

@MarkFreeman-xi3rk

Жыл бұрын

On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal portfolio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $350k since then.

@cythiahan8455

Жыл бұрын

@@MarkFreeman-xi3rk I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, do think your Inv-coach could guide me with portfolio-restructuring as i wouldn’t mind a recommendation.

@MarkFreeman-xi3rk

Жыл бұрын

Actually, I've shuffled through a few advisors in the past, and Margaret Johnson Arndt remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her deets can be found on the net, so you can confirm yourself.

Thank you for the video, I found out that investing is not for everybody, you just need a strong stomach too see your portfolio go down. It might be wiser for a novice to start with copy trading investing, but it is not easy. To invest in growth stocks it is another level, definitely you need to know what are you doing.

@danielrichter465

Жыл бұрын

From my own point of view, you need to invest smartly if you need the good things of life. so far i've made over $255k in raw profits from just 6 months into the market from my diversified portfolio strategy and i believe anyone can do it you have the right strategy, mutual funds takes long time but investing smartly is the key for short term. Most of us tend to pay more attention to the shiniest position in the market to the cost of proper diversification.

@katrinatyler675

Жыл бұрын

This is a phenomenal advice for a new stock traders and investors who want that quick short term game, but don't see the light at the end of the tunnel.

@danielrichter465

Жыл бұрын

My portfolio is very much diversified so it's not like i have a particular fund i invest in, plus i dont do that by myself. i follow the trades of Mrs Karen Gaye Gray.

@danielrichter465

Жыл бұрын

She is a popular broker you might have heard of. I can correctly say she's worth her salt as a financial advisor as her diversification skills are top notch, because i see that in her results as my portfolio grows by averages of 10 to 15% on a monthly basis, unlike i can say for my IRA which has just been trudging along, my portfolio just mirrors what she trades and not just on some particular industries of my choosing.

@danielrichter465

Жыл бұрын

Yes, exactly. It's all programmatic and automated, plus it's relatively much easier to set up and connect my accounts than creating a financial plan and drafting investment strategies myself, my account just mirrors her trades in realtime.

News Flash... Home owner Insurance prices are NOT going down in FL... Best case scenario is a leveling off but unlikely..

@kristineparrotta2456

Жыл бұрын

Yup! Especially onse another hurricane hits, and it will!!! Insurance carriers left the state for a reason,..

@katrinreal

Жыл бұрын

time will tell...

@ER-me1ii

Жыл бұрын

The homeowners are getting raped and Desantis is in the pocket of the insurance lobby. Bought and paid for. I voted for him twice!!

@kgriff5537

Жыл бұрын

Spot on. I don't know where all that optimism comes from😀. I'm already starting to look at other places outside the States for my retirement. It ain't gonna be here which is a shame because that was the idea when I moved here from NYC 20 years ago. I think you'll start seeing panic start setting next year when they hit us with another 10 percent increase after the large increase this year. This idea about changing roof every 10 years is another way they're letting insurance companies just dictate everything at the expense of policyholders.

@naturelover2292

Жыл бұрын

@@kgriff5537not to mention electric bills are also rising, car insurance premiums are rising. They are getting us everywhere they can.

My homeowners insurance just went up to $4277.00. I live in Lakeland and only have a 1760 sq ft house...This is getting scary!

@katrinreal

Жыл бұрын

:(

@johnboy6594

Жыл бұрын

My friend is going to build a 2 million dollar home on a canal in Marco Island. What numbers is he looking at ?

@katrinreal

Жыл бұрын

@@johnboy6594 Call a home insurance agent. Maybe call Jennifer Osiwala.

@ER-me1ii

Жыл бұрын

@@johnboy6594 if he’s rich enough it’s better if he self insures.

@Gardis72

Жыл бұрын

@@johnboy6594 If he's building a 2 million dollar home, he couldn't care less what the insurance costs. ;And if he did, he cannot afford the home in the first place.

Hurricane Ian caused $50 billion in damages. That amounts to $2,000 for every Florida resident. There is no guarantee that Florida will not get hit by a similar hurricane this year. Insurance companies are not charity providers. They need to cover their costs. Many insurance companies have abandoned the Florida market. Collectively we have to properly assess the risks and assign the costs appropriately. I can see how many people complain that they live far from the coast. Well currently they are subsidizing beachfront property. Personally these beachfront property owners need to pay the full and true cost of their property.

@commonsense6967

Жыл бұрын

Bingo. This needs to happen!

@anthonyvarone5526

Жыл бұрын

Sure does!!!

@ucsbgirlie18

Жыл бұрын

I agree, we need to allow the market to correct for things like this.

I live in Texas. Insurance rates here have gone through the roof. My insurance increase went up $1,000 to $3,400 just for homeowners. I, being a retired senior citizen don’t know how much longer that we can hold on to this house.

@demotter

Жыл бұрын

It's the blue states fault. Texans and other red states are having to pay more so the blue states can have cheaper insurance.

@thankswillie

Жыл бұрын

dont seniors usually have home payed ?,drop insurance

@demotter

Жыл бұрын

@thankswillie . Alot of seniors do not have their house paid off. But roll the dice. If your house gets hit. No insurance means no coverage. Also no protection against lawsuits if someone falls on your property or your tree falls on someone's house.

This is the price one pays for living in a hurricane prone state.

@katrinreal

Жыл бұрын

True

@dougs7367

Жыл бұрын

And run by Republicans who do not fight to help the common people

I lived in Florida for 4 yrs I found Florida to be a nice place to live ( in certain areas) However, I moved away from Florida because Florida is too crazy , too many shady characters live in Florida… I lived in Florida during the Governor Jeb Bush era . The Stare itself is catered for older retirees & wealthy ppl Middle class ppl have a hard time surviving in Florida… I feel sorry for honest working ppl living in Florida .. I moved to Santa Barbara California after living in Florida Totally different vibe , less crazy ppl , Santa Barbara is more exclusive to live in but it keeps the riff raff away…

@katrinreal

Жыл бұрын

interesting input.

@PureSwank

Жыл бұрын

Man you left Florida for Comifornia?! That's worse!!! California is ass crazy! Hahaha

@extendedplay8830

Жыл бұрын

@@PureSwank I live in Santa Barbara California Totally different vibe

@Capone2525

Жыл бұрын

Out of the kicken into the hot pan California is not even a state no more its other country no thanks.

Why doesn't DeSantis do anything about this insurance problem in Florida, instead allowing companies to gouge hard working taxpayers, shame on him.

I would be interested to see a similar video on property taxes in Florida.

@AmandathePandaBooks

Жыл бұрын

I can tell you. If you own a house, small or large, the property taxes start at about 4000 - 8000 as a starting point.

@matthewsmith2362

Жыл бұрын

I have a 1500sq foot house in safety harbor it’s 6200 a year I have a 1300sq foot house in Dunedin and it 7k a year Both cities west of Tampa fl

@Veganisbadhunter-wx5nt

10 ай бұрын

I live in northeast Ohio. My property tax on a $290,000 home is $4370/year. My home insurance is $525/year. Very cheap. Low cost living. My auto insurance costs $227 for 6 months of coverage.

I live 70 miles from the coast and my insurance went from 3400 to 8400 and never had a claim

@katrinreal

Жыл бұрын

:( sorry, that's tough

I had two lake houses and was always unhappy with my homeowners insurance. I sold both homes and bought one and currently have no insurance by choice. I live in Marion County

@katrinreal

Жыл бұрын

Ocala area right?

@rcrobertson9563

Жыл бұрын

@@katrinreal NE of Ocala...Fort McCoy. I've lived in Florida for 16 years and I'm very much at home here. Have a great evening

2022-2023 my home near Pensacola insurance went up 273%. This caused a serious short fall in my escrow and increased my house payment by nearly 50%. I decided to move back to Ohio (had been in Florida for about 8 years) in July '23 while I still could choose to as apposed to being forced to! I made this decision because many were reporting a likely 60% increase again for the next year. In short 2021 $1500 annual insurance, 2022 $4300 end of 2023 $7800 ??? We lived 18 miles due North of Navarre beach in flood plain X.

Hello Katrin, unfortunately our legislators allowed this mess. It is common knowledge Florida had a property Insurance problem years ago. They let us all down. Gruters can do better and has an office off 301 in North Sarasota. A roof is a wear item. It has a life expectancy somewhat like tires. Pro rate those sucker's and be done with it.

@RobertKnauerUnfiltered

Жыл бұрын

absolutey correct since Bush Jr. (Jeb) and every GOP since.....they do not care. VOTE THEM OUT

Florida has become the land of the Rich!! Just like California!! I’ve been saying these for several years now and people are finally realizing that!!! It’s crazy how much it now costs to live there. Something needs to break or change otherwise Florida is hopeless!!!😢

@katrinreal

Жыл бұрын

I have to completely disagree with you. The median price in FL is still half of what it is in CA. Est. $786K for CA and $419k per Redfin data. Real estate in CA I WAYYYY more expensive. As a matter of fact, Florida is in line with the national median price right now. Prices have gone up across the US, not just FL.

@dougs7367

Жыл бұрын

And even worse, the land of rich conservatives. It is becoming a right wing fascist state especially under the current governer

@anthonyvarone5526

Жыл бұрын

⁠@@katrinreal I live in New Jersey houses haven’t doubled like they have in Florida in the last two years. I also owned a condo in Florida and sold several years ago. Florida needs to come down at least 50% for people to be able to afford to live there. It is so over priced much more than the Northeast.!!

@anthonyvarone5526

Жыл бұрын

@@katrinreal I used to have a condo in Celebration Florida. I can’t touch a shack their now for less than $600,000 in Celebration…That’s how outrageous it has become. Let alone going to Boca Raton Delray Beach, Palm Beach. Only the rich can afford to live there.

A lot of talk about fraud but most of the litigation is because insurance companies don’t want to pay. When hurricane irene hit Florida in 2017 a mango tree fell into my house and they didn’t want to pay. Finally we. Had to go to court after a year of waiting. I have an old home with new roof, hurricane windows and doors. New electrical panels my insurance has gone up to 13,000 ridiculous. The new law protects insurance carriers and not the consumer.

My tile roof is 20 years old. My insurance company sent me a letter stating that my roof was good for 20 more years. The magic word is maintenance.

@katrinreal

Жыл бұрын

That is awesome. Who is the insurance company?

@romanromanowski9038

Жыл бұрын

Our tile roof in Poland lasted 80 years, before being replaced.

@katrinreal

Жыл бұрын

@@romanromanowski9038 😯

I read that if you hold a mortgage that it will soon be required to carry SINK HOLE coverage for most of Florida.

@katrinreal

Жыл бұрын

Only parts of Florida are sink hole prone...I doubt they will require it for all FL. But I'll let Jennifer weigh into it.

@morningstarwampanoag7906

Жыл бұрын

@@katrinreal Where can I find more information about sink hole prone areas?

to all real estate agents, from youtube, you need to publicize the insurance issue because soon you will not sell anything, developers will not sell and they will turn to who they need, put pressure on insurance, especially the Florida government, take legislative action, but that's just my opinion

@jennyosiwala

Жыл бұрын

Your comment is spot on. Pressure needs to be applied to make the carriers and branches of government accountable. If though, there is in fact a crash, they would have no other choice but to bring costs down.

My parents live in a building in Juno Beach; my dad is on the board and just told me that the building insurance policy doubled from 250k / year to 530k...HOA's going up!! Terrible news for 80% of the residents that are long retired and living on fixed incomes.

@katrinreal

Жыл бұрын

:(

@jennyosiwala

Жыл бұрын

That is awful and makes me so sad! When increases are that significant I would recommend a complaint into the Department of Insurance.

@piedpiper7051

Жыл бұрын

Winter Park FL...Our condo complex has just had an increase of $133k and we've been told to expect another 30% increase next year. We have multiple stacked Insurance carriers in order to get the coverage needed. Our monthly maintenance dues went up $75 a month this year. It's going to get worse. People on fixed incomes are going to get run out of their homes. Insurance rates are based on values of the property (ours went up $7+ million this year) and insurance carriers base rates on global disasters also. The cost of disasters in other countries affects everybody's rate. It's not just a local thing, it's a global pool. Insurance industry is like casinos, everybody's rolling the dice and hoping they win. Only difference is, playing Casinos isn't mandatory like playing Insurance is.

OMG- Kartrin i'm in Cape Coral mine jumped from 2,500 to 9,300 plus 3,000 for flood . Im on a dry lot . I cant do this yearly :(

@katrinreal

Жыл бұрын

Oh my, that's a steep increase. Are you with Citizen ?:(

@christheflex3184

Жыл бұрын

@@katrinreal Peoples Trust

@SanerKurbay

Жыл бұрын

Wow that is too much really, int he video 30% is mentioned as a max then it means it can be more..

@katrinreal

Жыл бұрын

@@christheflex3184 I am sorry...that's steep.

@katrinreal

Жыл бұрын

@@SanerKurbay could be

I am not buying this 10 year shtick. When shingles get sold they come with a 25 year (typically) life expectancy. When there is a leak in shingles, you can generally replace a few shingles to and fix the leak. I had to replace about 10x10 section and also asked them to close in a skylight over bathroom and they added shingles there too... $700. That is the cost to "fix". It does not cost $30,000. It costs $700 for a team of 4 people to come and knock it all out ohh and in case you are wondering to close a skylight they charged me for half a sheet of plywood. So with all that it was $700. The only reason why insurance companies are now saying 10 years has nothing to do with life expectancy of shingles. It has everything to do with NOT paying people for NOTHING. Storm has a name... ohhh sucks to be you... your deductible just jumped to $6500. What do insurance companies do then? Send a crew out to fix it for $700 and you are out of pocket for $6500. Then they jack up your rates and then they dump you. Worst part about insurance is that for most people they can't even NOT have insurance because its mandated by the mortgage. Likewise government prohibits you from having living options which is why its illegal to sleep in a tent on your own property, illegal to "live" in RV for more than 180 days per year, illegal to live in tiny homes. Illegal to put a roof over the roof. Illegal to put tarps over your roof to prevent water damage. Heck if you are in HOA community then you are also bound by color of shingles and other roofing options. Basically they want to prevent you from having AFFORDABLE options and keep people on payroll. Just the other day I saw a youtube video of a news station that did assessment on this condo building for $40+ mil asking every person to pay like $170,000 or something towards recertification. Turns out that HOA was in cahoots with its sister company which charged an additional $20 mil to line its own pocket. Ok so you spend $35,000 to put a new roof out of pocket... 10 years later when it still has 15 years left of life in it... they want you to spend another $70,000. This extortion is despicable. I changed out like 800 square feet of the roof (unrelated to above). Never reported that to insurance company. They did their 5 year inspection in trying to find a new reason to jack up my rates. Imagine the horse face on the dude they send here when he was... like thats a new roof... and you spent $7000 to put it there.... sheeet.... ok we are dropping your insurance policy by $400. Next year they jacked it up $800. It is never enough for these vermin.

"Prices will go down. They have to." Well, that's wishful thinking. We're at the stage now where once a century hurricanes are becoming multiple per season, regular events. No insurance company will write policies because loss is a certainty. If you own in coastal Florida, sell to the next sucker and get out now.

@stew6662

Жыл бұрын

Prices won’t go down, but they will slow

@RobertLeeAtYT

Жыл бұрын

@@stew6662 Well, think of it this way. Say we're talking liability coverage for your car instead. If the carrier _knows_ for a certainty that you will cause a crash and require payout once a year, you'll be dropped. If the carrier _knows_ that all Floridian drivers will cause crashes and require payout once a year, they're pulling up stakes in the state altogether. Back to property insurance. Do you honestly think that another hurricane wiping out half the state can't possibly happen sooner than a hundred years?

@marknewton6984

8 ай бұрын

And live where?

In the spring of 2012, I wanted to buy a 1970s trailer near Ft. Myers Beach, but I was told by my insurance carrier, “Liberty Mutual,” who I had been with for 25 years, they did not insure anything in Fl. Fortunately, I did not buy it as the following year revealed how much a simple storm caused the increase in insurance cost living near the water. An insurance company told me to buy a second-floor condo 5-7 miles inland which I considered, but the monthly HOA Fees in the 55+ community were $700, and it is now approaching $1000. Again I was fortunate to just rent until I became a full-time RV’er and discover small towns in the midwest were I will buy small home and use my RV to escape the cold in the winters.

@katrinreal

Жыл бұрын

Thank you for sharing.

I appreciate all the up to date info. A good insurance agent is key! They are the current experts. Lots to think about and appreciate the heads up!

@katrinreal

Жыл бұрын

Happy you enjoyed it 😊

The more homes get bigger and more expensive.. the more it costs to repair... It's crazy how big houses are now.. it's nuts

Dealing with the condo building insurance currently. I'm on the board and we were told our current insurance company was not renewing our policy for the building. Are insurance policy they would be expiring in 2 weeks but the law says they have 45 days at least to tell us we didn't get that information are agents at on it. So we're desperately trying to I'm in contact with everybody I know and have made a little headway but the president is cowering in the corner and listening to what the agent and the property management person's telling her hopefully she has now opened her eyes because we're being screwed over. I was looking for something else and I came across your channel. Bits and pieces of information that I'm listening to now has been helpful for me. I'm about to finalize the rough draft of an email and get it off to the state insurance commissioner. We went from 101,000. To 288,000.if citizens takes us to 466,000. If they don't nobody will touch us we have not had her 40 year inspection we're on the list but that's what they're using to drop condos isn't that amazing

I really appreciate you covering this topic, as it is a huge concern to me. My husband & I intend to retire to FL, however we've been increasingly concerned that the high price of homes plus insurance costs will prevent us from coming to FL.

@katrinreal

Жыл бұрын

I can understand your concern.

@Rick-gy8fz

Жыл бұрын

You set aside reserves for replacement costs. No insurance, no mortgage. Self insure. I can't see any other way. I'm moving g to Florida soon. That's my plan.

@RobertKnauerUnfiltered

Жыл бұрын

You and your husband would be damn fools to move to FL at this time or even in the next couple years until all the horrible issues DeSantis and the FL GOP legislature have created for Floridians. IT IS GETTING WORSE. DO YOU HOMEWORK AND STOP BELIEVE THE BS....BEING PUT OUT BY KATRIN AND OTHERS. DO YOUR HOMEWORK

@JohnJohn-wr1jo

Жыл бұрын

Best advice one can give in relocating to any state. Do intensive research first, rent for 1 year before making permanent decision before buying. Spend that time talking to long term residents. If you do these two things first 90% of you will scratch relocating to Florida. Great place to vacation or snowbird, unless money is absolutely no consideration your going to be dissapointed in the overall cost and quality of what you recieve in return. Florida is the most corrupt state in the US. Everyone has a hand in your pocket.

@babybaby551

Жыл бұрын

Don’t Do it move to some other place.

Insurance companies don’t pay what they promised and so the homeowners must resort to suing the insurance companies to get a fair payment. This increases the insurance costs. All could be avoided if they did what the promised.

Once I pay off my home (5 years), I am voiding insurance and pocketing the savings for future repairs.

@rack9458

Жыл бұрын

So when the next hurricane hits? Fire, theft, explosion? Ignorance is bliss 😂

@billsattic

Жыл бұрын

@@rack9458 I don't live in Florida. My house is solid quarry stone and I owe just over 55k. My lot is now almost worth my home value. I'll pocket my thousands and take my chances AND not deal with insurance rules and regulations. Not overpaying for a house feels great!

I have lived and owned a house in Florida for 36 years. Insurance rates NEVER come down, NEVER. I currently own 2 homes and they are both 45 miles away from the beaches and we have never suffered catastrophic damage. My policy for each home is in the low 2000's. If you buy a home within ~10 miles from the beaches expect ridiculous rates. I read SB 2A and it's meant to help insurance companies bottom line not the customers. The reforms are 100% aligned with reducing payouts in the event of a claim. We will have a new set of policies in Florida. Arbitrage policies( discounted rate, expect to get raped when you file a claim) and non arbitrage policies (expect to get raped with the high pricing) Attorneys fees at your own cost EVEN IF YOU WIN THE CASE. They have made it impossible to take insurance companies to court, just let the abuses like we have never seen before roll in.

@JohnJohn-wr1jo

Жыл бұрын

36 years and u should have a great handle on the rampant government corruption and mismanagement. That's what's driving up homeownership cost in Florida. Fastest rising cost of home ownership in the nation. Even pulling out the rise in property values.

This insurance agent is not as honest as you, Katrin,she was very cautious not to bite the hand that feeds her. Just my opinion😊 Another great segment!

@katrinreal

Жыл бұрын

Hi John. Thank you for your input. I have had plenty of conversations with Jennifer offline. Jennifer O. 's heart is in the right place. I believe she was stating what she feels to be the truth as she knows it today. But only time will tell if the legislation truly will have an effect. Unfortunately, this issue should have been dealt with years ago and not allowed to get to this point.

@ER-me1ii

Жыл бұрын

You are 100% correct she’s a pure shill.

No hyping about the rise in home insurance, it's true. I have never filed a claim since 1976 of living here and now this year my insurance policy almost doubled. This is pushing people out of their own homes. Ridiculous!!! I

Look at Fot Myers people are still struggling from hurricane Ian over a year ago.

I live in Colorado and want out of here when I retire in 3 years. Florida is my #1 choice. Homeowners insurance was average here but my premium just went from 2900.00 a year to 3900.00 because of Hail damage claims. Going up everywhere.

People need to learn how to fix their own roof. Actual roofers are a ripoff. I have a roof access panel, every house should! I inspect my roof yearly and fix things as they show up. I'm thinking that my roof is at least 40 years old. Emphasis on at least.

@katrinreal

Жыл бұрын

I wish I could!

@JaredMerlin

Жыл бұрын

My Aunt Diana has lived in Florida for almost 50 years now. She has been tending, fixing, repairing her own roof in Fort Lauderdale for years. As old as she is today, she is still up on that roof inspecting and doing what needs to be done. I agree with you 100%.

@787UrbanApparel

Жыл бұрын

You need the upkeep recorded with the county , so when agents look at renewal period it shows on the public records . Most county dont required it for simply maintance but you should be able to added if you requested it .

I live in central Florida and received a quote that included solar 3 months ago. when I called back 2 weeks ago to close the deal, the price went up $300/year.

The rates have to come down? That sounds like wishful thinking. The re-insurance market drive the rates, I wouldn’t buy a house with the expectation that the rates are eventually going to come down.

It all depends where you live in Florida. I just talked to a couple that live in the middle of Florida, so they are away from both coasts and the tax assessor said their home is worth $400,000 but their homeowners insurance is only $3000/year and the property taxes are $2500/year. Not bad at all. If you live by the ocean, of course your insurance is going to be high with the hurricanes.

@katrinreal

Жыл бұрын

Yes great input 👍

@naturelover2292

Жыл бұрын

But if that home sells for $400 k the property taxes are re assessed. People purchasing homes now are paying more because they are paying more for the homes. If you purchased a long time ago no matter what they say your home is worth if you have homestead they can’t raised your assessed value over 3% per year. So that is why her taxes are reasonable.

@MyLifeThai371

Жыл бұрын

Really? In North Dakota they just raised my property taxes 17% this year and I have owned my house for almost 20 years now.

@katrinreal

Жыл бұрын

@@naturelover2292 correct

@katrinreal

Жыл бұрын

@mylifethai6983 if the property is not homestead in FL, they can't raise over 10% a year here.

I would never live in Florida again. It was OK, but I got tired of hurricanes and the high cost of housing back in 2003. Now it's WORSE. No way. Thanks for the video. Subscribed

@katrinreal

Жыл бұрын

Hi Jose, FL is not for everyone but many that do live here love it :). Thanks for your input. Take care.

@joseCalderon1976

Жыл бұрын

@@katrinreal Absolutely. No hate from me there. I just visit family and go back to the more affordable city in Texas where I live now. I bought a brand new house for $170k in 2012 at 3.5% interest and I only owe around $102k now. I still like FL, but just to visit. I hope that mess with the insurance companies gets better soon.

@Capone2525

Жыл бұрын

Good we have enough people here already hopefully more people move out smart choice😊

This homeowners insurance increase is killing almost everyone in Florida. I'm luck that I don't have a mortgage anymore. I don't see how working families and retired people are going to afford to live in Florida.

@Lexxie45

Жыл бұрын

Only the very wealthy and the criminals will be able to afford it. I lived in the Fort Lauderdale area for about 7 years back in the 1990's. Was just about ready to buy my own home when I had to move to Seattle for family reasons. I've been wanting to move back ever since. Now that I'm getting ready to file for social security in a few years, I wouldn't be able to afford all the costs that come with owning either a condo because of high and continuously rising HOA fees or a house because of high taxes and insurance. Rates will NEVER go down. Or not enough that people on fixed incomes like I am going to be soon, will be able to afford living in a decent place in Florida any more. I would be happy living 30-60 minutes drive from the beach but it won't make any difference.

@jennyosiwala

Жыл бұрын

It is hurting every single homeowner right now because we are all taking increases. I've been adjusting peoples deductibles to help with costs and actually "removing" hurricane coverage from peoples policies that do not have mortgages anymore.

@georgedreher2322

Жыл бұрын

@@Lexxie45 You are correct. Both Auto & Home Insurance rates have significantly increased in Florida this year. We are presently looking for properties in North GA & TN. Fact: Talked to my car insurance agent last week regarding car insurance - rates in the areas previously mentioned would be MORE than 60% cheaper. That's a fact for you to chew on if you are going into retirement.

Ihave my insurance rate increased 60%last year and 104% this year, when you said max 30% is out of spect That was citezen

@katrinreal

Жыл бұрын

She didn't say max...she said avg! It can go higher or lower.

Where is DeSantis and the Florida legislative body on this? Do they expect the rest of the nation to keep bailing out Florida?

@commonsense6967

Жыл бұрын

The rest of the nation didn't bail out FL. FL spent it's own money to repair many bridges and roads rather than wait forever on the FEDS.

@tokay57

Жыл бұрын

Florida receives less in Federal monies than it contributes to the US coffers, Most States are beggars and irrelevant. People hate on Florida because it is a relevant State to the US and world.

@RobertKnauerUnfiltered

Жыл бұрын

DeSantis and the GOP legilature are the ones responsible for this mess since Bush Jr. Thank you GOP....ps....they don't give a shit.

@dougs7367

Жыл бұрын

Blue states keep the red states afloat.. that has always been the case.

@tokay57

Жыл бұрын

@@dougs7367 Thats true but I was refering to Florida because some joker stated that the rest of the US has to pick up Florida's tab which is untrue.

I was blessed to find a property in 21 before the prices went crazy. I was considering buying a multi unit but the cost taxes and insurance just doesn’t make sense. I’ll still invest but in a more favorable market.

@katrinreal

Жыл бұрын

Glad you got in early.

The gal with the gravitas in Sarasota County real estate! Katrin, you're amazing! ~Julia B.

@JuliaB1955

Жыл бұрын

PS Couldn't get the vid to play. Usually Xfinity gig tower gives great internet connection. Not for about a week now. I'm in S. Venice. Aargh! I had to use internet video downloader to listen.

@katrinreal

Жыл бұрын

😊

I've been watching that home buyer show where the buyers ooh and ahh about stainless steel appliances, crown moldings, paint colors etc. I just there thinking roofs, foundations, windows guys. You know the truly big ticket items.

@katrinreal

Жыл бұрын

Great point!

So informative. Thank you to Jennifer as well!

@katrinreal

Жыл бұрын

Yes, she is very insightful :)

@jennyosiwala

Жыл бұрын

Thank you for watching.

I don’t live in a hurricane prone state. But I’ve have seen an increase in my insurance when these storms hit. It takes a lot of money to rebuild or repair a home. Choices people make.

@katrinreal

Жыл бұрын

👍

Short of major storm damage, those tile roofs should last 100 years!

@were_all_fact6026

Жыл бұрын

HOAs make you keep them clean from mold/mildew so power washing and walking on the roof takes a toll.

@carlosponchio1869

Жыл бұрын

it is not the tiles. It is the roofing paper underneath that goes bad. My roof had very few tiles broken, but the paper just plain rotted it out.

@vapsa56

Жыл бұрын

The same with metal roofs.

The best realtor on YT in my opinion. Her videos are 🔥🔥

@katrinreal

Жыл бұрын

Now I am blushing ☺...hey thank you so much for your always positive feedback!

@pc3666

Жыл бұрын

@@katrinreal you deserve all the praise I give you!

Terrific video, Katrin. I am contemplating a move Fl., Venice or North Port, but have to sell here in Colorado first. Our market is hearty. My biggest fear is the cost of insurance. This was so helpful. And I think I know the realtor who spews the misinformation. Watched one of his videos, and did some fact-checking on that very issue of flood insurance. He was wrong!

Whenever I look at a real estate listing now in Florida, I always look to see if there is a mention of a new roof or the roof being replaced in the last few years. If someone is selling a home 15 or more years old with the original roof, that is probably not a great selling feature in this market correct?

@christheflex3184

Жыл бұрын

That is correct Florida actually want's a new roof every 10 year's now. This state is insane

@katrinreal

Жыл бұрын

@@christheflex3184 that's incorrect

@katrinreal

Жыл бұрын

Laura, yes, that is why you will see a lot of home owners getting new roofs before putting homes on the market, or they may provide a credit towards a roof.

@christheflex3184

Жыл бұрын

@@katrinreal I know a few people here in Cape insurance told them after 10 years get a new roof or else.

@katrinreal

Жыл бұрын

@@christheflex3184 They should shop for another carrier.

This video was great! I learned a lot! Thanks so much! ❤

@katrinreal

Жыл бұрын

👍

I don't know how anyone can project home insurance premiums to go down, or even by how much they will be reduced. Premiums are dependent on claims. With global warming and Florida's exposure to hurricanes and other storms, it is a certainty that if we get a major category 3 or higher hurricane in a very populated area like Dade and Broward County, we will be in trouble not only for higher rates, but also if the insurance companies have the money to pay for claims.

I wouldnt be too excited about HO or even Auto Ins rates coming down in the future primarily based on the carriers experience in handling the extensive losses from the most recent hurricane Ina. Values of homes are going up rapidly and while they may go back down somewhat for a temporary period of time, they will ultimately continue to go up to reflect pricing based on the cost of goods and services which form the base for their claim costs. Additionally, labor costs of contractors and auto body shops and repair shops have gone up considerably in recent years and that will continue, especially as the scarcity of qualified workers continue to drive up what is being paid to attract enough qualified people. Yes, fraud has always been a terrible problem in Florida and becomes even worse when major storms hit and all of the scam artists come into the state to offer their services at inflated prices. Rates may be somewhat relaxed if/when claims come down due to less catastrophic events, but that wont affect the continuing increase in costs of labor, parts, building products of the claims which do occur and that element of insurance pricing will not come down, only go up in the future. The only alternative to the future continuous pressure of higher premiums will be either some sort of government intervention or mechanism (which will help to drive more carriers to leave the state if they have no chance to earn an Underwriting profit), or the entry of "new" carriers who are willing to write Auto and /or HO insurance at rates which are designed to capture market share, but will usually not be adequate to allow the carrier/s to actually earn an Underwriting profit, so they will be either short term players or function at a loss until their shareholders , or their reinsurers, pressure them to discontinue offering policies in Florida. Unfortunately, there are no magic formulas which will give Fla ins rates ANY chance of reducing their premiums so long as their ACTUAL loss experience justifies rate increases. I was thinking about moving to Florida recently, but since Ina struck, I have no current plans or desire to do so unless it is to a less catastrophe prone area of the state. Way too expensive!

Good thing our fearless leader is taking on elementary school teachers and Mickey Mouse... you know, the REAL issues.

@valentingarciaable

Жыл бұрын

********🔥******** your leader is taking on those that need to be taken on because of the shenanigans of the woke community. And your state is a good State and the reason why insurance companies do not charge lower rates is because insurance companies are not a charity ! They do not exist to pay and to subsidize your insurance or peoples insurance in Florida the people in Florida if they want to live there will have to pay for their own insurance rates and hurricanes are getting worse and worse and that's just the way it is. Sunshine is very expensive but yes let it be known that you have a great leader in your state...

@brandivanemon7930

Жыл бұрын

He's a swamp creature and that's a great reason he won't be a good president. He's not in touch with the people.

@JohnJohn-wr1jo

Жыл бұрын

Yup, so ironic but not as ironic as his political moniker,"free florida." What was he thinking. That's a slap in the face to all Florida homeowners.

Man, that's crazy. The home market is crazy expensive damn near california...to top it off insurance makes it worse. Good grief. The average floridian is about to lose it all. I got a 5,000sqft home in Texas and my insurance was 1700.

It all depends where in Florida you live . You live near the beach, ouch. You live inland you pay normal as most people do in Florida.

@katrinreal

Жыл бұрын

👍

Sorry, but it’s just not logical or feasible to expect prices to decrease when home values are skyrocketing and the state literally has to hold its breath every single hurricane season hoping storms aren’t too bad. The day a category 4 or 5 storm hits Miami is going to be a really, really bad day for the entire state. Not if, but when.

Well done and very educational! I enjoyed your video.

@katrinreal

Жыл бұрын

Glad it was helpful!

Thanks for this informative video. So, I’m assuming that my current carrier (Slide) must be a “surplus line” carrier as they want to increase my annual premium by 131%!!!

@katrinreal

Жыл бұрын

I would check with your insurance broker. You can always shop a new carrier and see if you can get a better rate.

@davidjohncox7333

Жыл бұрын

@@katrinreal thanks! I'm working on it. Unfortunately, after my wind mit. and 4-pt. inspection last week, I guess I need to replace my 2005 roof!

And now these new carriers don’t cover roof if a hurricane destroys your roof and so so ! But they want thousands of dollars to cover what ? Car insurance same thing ? What are we paying for ?

Hi Katrin . I think you leaving a big reason insurance Co are moving insurance premium up and it is "FRAUD" The insurance claims are skyrocketing and the Insurance Companies has to adjust , of course they won't says that. If the reason of those new premiums is just the roof age, the construction types and the proximity to cost line why they are not consistency alone whole state? FRAUD

@katrinreal

Жыл бұрын

Hi Armando, fraught is covered in the video...and in many other videos as well.

@ArmandoPerezContractor

Жыл бұрын

@@katrinreal I mean fraud: People claiming to insurance to get money for some damages that did not really happen and get an attorney to fight for.

@katrinreal

Жыл бұрын

@@ArmandoPerezContractor 👍

As always, thanks for your video and updates. Keep getting the word out there.. Many Floridians are still in the dark about this issue and don't truly understand where this problem originated and who should be held criminally accountable. I for one have little confidence in "the government" (as your guest stated) fixing this issue since she should be pointing out its the Florida state government. This entire insurance fiasco falls in their lap. How can you expect them to fix something that they created due to their greed and mismanagement. We left SW Florida almost 3 years ago because of this and the tax increases and multiple other reasons. After 23 years we had enough. Still winter in CC but will never own Florida property again.

@1969bones69

Жыл бұрын

Yeah it's the "Governments fault" you decided to live on the coast and it's their falt there are Hurricanes etc. Just vote yourself a new govt and florida's problems go away..... YOU are the problem. Up your IQ. Your life will improve.

@maily8388

Жыл бұрын

Thank you for your information 👍. I will give up on buying a house in Florida.

Significant increase in FL home values is part of problem. Free roofs is another. And of course more intense hurricanes. My FL policy has increased 4 times in last 6 years. Finally got control with new roof coupled with wind mitigation. Now of course new roofs on ranches are pricey.

@katrinreal

Жыл бұрын

They are...how much did it cost you. Size of house?

@michaelsheedy

Жыл бұрын

My house in Central FL is 2,100 square ft. And when bought in 2016 property I insurance was $800. It hit a high of $3,400 last year and now with new roof and wind mitigation report, it is $3,000 this year.

@katrinreal

Жыл бұрын

@@michaelsheedy thank you for sharing

Thank you Katrin for the very informative video, you're the best.!!❤😊

@katrinreal

Жыл бұрын

You are so welcome!

Very helpful, thanks!

@katrinreal

Жыл бұрын

Thank you for watching. :)

My insurance in NY was $3,200 a year. Here in NE Florida it is $2,800 a year With Flood and Hurricane. All these Anti Florida "you tubes" started when DeSantis decided to run.. It's all political. It is true that if the insurance company does an inspection, and you have violations, they will drop you, if the violations are not corrected within 90 days.

@faraon2012

Жыл бұрын

I say, Wonderland is gone.

@michaels7258

Жыл бұрын

As a person who has no opinion on DeSantis, I can tell you this problem is very real.

@commonsense6967

Жыл бұрын

Yes, you are correct, it's all political! And I, too, am in N. FL, where the insurance premium, covering hurricane and the usual coverages for an investment property (house) I own went up a not-whopping $46.00 per year, or 5%, so the premium I just paid was less than $1K. Not bad for a 1200 SF home plus attached sunroom and carport.

Me and the wife have already changed our minds about moving to florida because of exactly this

You can't expect insurance companies to keep rebuilding homes after every Florida storm. Someone has to pay for it. That's the price they will pay to live under the palm trees.

@thatoneguy94512

Жыл бұрын

Yep love it here. Don't mind paying. Some can't they will have to leave, such is life

@tkhemjinda

Жыл бұрын

Yep, I can and love it here. My house have pool and water access. My neighbor home million and up!

@jackwilson8051

Жыл бұрын

I don't think you will see homeowner insurance rates drop any time soon in Florida.

@thatoneguy94512

Жыл бұрын

@Jack Wilson who cares? So the average was 2k and is now 4-5k.. if 2-3k is make or break for your entire life. Florida isn't for you, cheaper places to live. People too busy living outside their means

Paying $4800 ,insurance many miles from intracoastal,neighbor at $8000, other freind just got renewal for $9500 ,for like 1500sq ft home Legislators helping the Companies not the consumers. Most of companies very poor quality financially ,not the National companies

Great content. Thanks.

@katrinreal

Жыл бұрын

Glad it was helpful!

30k for shingles? That's like metal prices How many SQ ft? Crazy

@katrinreal

Жыл бұрын

2,000 sqft...one quote came in even higher. This home is in Englewood. Prices will depend on the size of the home, roof shape, and location in FL.

@jackwilson8051

Жыл бұрын

In iowa a shingle roof for a 2000 sq ft ranch would be about $10000 to $15000.

@katrinreal

Жыл бұрын

@@jackwilson8051 wow, way cheaper

Desantis will end Florida along with the homeowners insurance and property taxes. Not many points to attract people.

Your videos are always so informative, great job. It’s a real big help learning the uniqueness of Florida housing being a newbie here. Thanks so much :)

@katrinreal

Жыл бұрын

I am happy it was useful for you, especially because you are new here. Hopefully things will get better soon here.:)

The insurance premiums will start to come down once insurers are able to implement all the new rules in their models. As a home owner I was very upset when my insurance doubled in 2021 and then went up 50% more in 2023. I understand that giving free roofs to everybody, even if I did not get one, does have consequences. Once everything settles and new insurers see the opportunity to make a profit in the FL market we should be in much better shape. Even with the high rates for me Florida is still much better in every way than the NY-NJ area where I moved from.

@jennyosiwala

Жыл бұрын

You actually get it and see the big picture. Half of Florida was given new roofs. The roofing companies and lawyers were all in on it. This is why the 2A bill making each party responsible for their own litigation is going to be huge and help cut down on the fraud in this state.

@johnericfirst

Жыл бұрын

they never, never go down

@asolano

Жыл бұрын

@@johnericfirst that's because they never have tripled in 4 years as they have now. They will not be going back to 2019 rates due to inflation, but they will be coming down to something more in line with what they should be without all the abuse.

@frankd3505

Жыл бұрын

Prices will never go down, only going get worse,sorry but wishful thinking

@sbc383zz

11 ай бұрын

Another Kool-Aid drinker.

I would never insure Florida houses. Why take the massive risk with all the hurricanes and much higher price of houses now. No way. Roofing fraud costs billions. To homeowners, you can self insure. GL

@katrinreal

Жыл бұрын

Depending on where the home is, that could be a risky move.

Insurance is a scam especially in the the areas that pay out the most.

These are among your best videos, Katrin. It's great you offer this kind of info periodically. Now that we're in Babcock Ranch, which survived Ian well, I notice there are many folks who are confused about flood insurance: I'm at 30' elevation, do I need it? A federal policy or a private policy and why, how expensive is it, etc. Might be a good topic.

@katrinreal

Жыл бұрын

Thank you so much Jack! You only need flood insurance if you are in a flood zone, if you are financing. If you are in x, you won't. Exception, whether you are financing or not, Citizen will require you carry flood insurance in flood zone and if in non- flood zone starting est. 2027.

In the mean time, the governor and the legislature have no plans to make it right. Hmmm

Insurance premium and deductible doubled. Never made a claim.

@katrinreal

9 ай бұрын

That’s steep…what’s the premium now for you?

Did you ask her how payouts affect her bonuses?

Thank You..

@katrinreal

Жыл бұрын

glad you enjoyed the info!

I live in Upstate South Carolina and my home insurance policy went up 30% this year, because I live in a downtown fast growing area. We have a smaller home and it's paid for, so we can easily afford this increase, but it's still crazy.

@katrinreal

Жыл бұрын

👍

@westmax8491

Жыл бұрын

Someone lives in Greenville

Another awesome and informative vid. Thank you. The only area that maybe could have been addressed was differences between condos versus single family. I live in a condo and pay for the interior of my unit and personal belongings and also carry flood insurance from FEMA even though I am in the x-zone (hey, as far as I am concerned, the whole state of Florida is a flood zone as those in the interior of the state and were not in a designated flood hazard area found out when they were flooded). Because I am in an x-zone, I pay a much better, reduced rate. I pay around $2,000 for both policies. This was about 50% more than what I paid before Ian. There is also a master policy that the HOA is required to have that covers the buildings themselves and property. That rate went up 100% which is different than the 15-30% mentioned in your video. I am in Palmer Ranch which is about 4 miles from the coast and in evacuation zone D. We had minimal damage. Ours was built in 2005 and yes, the roofs are a bit older and could explain why our costs are higher but we do have a plan to replace those roofs which should help to reduce insurance costs eventually. Again, great video. Keep up the good work!

@katrinreal

Жыл бұрын

Yes, good idea for a future video ! I am in Palmer Ranch also, neighbor!

She's not being honest, DeSantis has done nothing, but cater to the quick profit businesses. Insurance rates are only going up. Expenses have been off loaded on to the home owner while protecting Insurers.

@commonsense6967

Жыл бұрын

Half of FL insurers have left the state after Ian. No one can prevent bankruptcy and insolvency when so many bad hurricanes and floods hit. Can't wait till the rest of the insurers leave the state and hopefully, the rest of the whining homeowners with them. Let's see how you like it then!

@richardfloridaman

Жыл бұрын

@@commonsense6967 I cant wait either, I am from Florida and I had to leave to Kansas because everyone took-over. I want to see them suffer the way I did. They need to leave my state.

If they expect a family to buy a new roof every 10 years, that should be interesting. So a new roof south florida cost me 28k new windows run anout 40k, yeah let me get that from my bank account.

@katrinreal

Жыл бұрын

Thanks for sharing

@dougs7367

Жыл бұрын

That's for shingle roofs.. could switch to metal and it's 25 years. Or better yet just move to a better state I don't know why we still even use shingle roofs it's so old and outdated tech.

I moved away after Ian. So glad I did.

@katrinreal

Жыл бұрын

where did you move to?

The biggest issue that has to be fixed is the "need to sue" as the only means to get the agreed upon payment in days rather than months.

@demotter

Жыл бұрын

I hear Citizens Insurance is really good.

Is this the same Florida Meatball Ron keeps bragging about?

AOB finally taken care of for home insurance claims. Now that have to do the same for those windshield companies that want to tie up insurance companies in litigation. And settle.

Welcome to Desantis' Florida

I'm okay with it. Better than taxpayers always picking up the tab. Enjoy the sun and beaches. However, just know it's done at your own risk.

@katrinreal

Жыл бұрын

👍

You know and I never thought I'd say this. I'm a Democrat, a liberal. As much as I do not want to see Ukraine falter, I'm sorry but right now, Americans need to come first. We are in dire need here of many things. This home insurance crisis is very serious not to mention the housing crisis, out of control Mortgages, rents, HOA fees, home sales. People losing their homes, being evicted, not being able to afford to buy or rent a place to live. And AI putting people out of work is also not helping US. Not only does the President, the Vice President but every Democrat, Republican, politician needs to start focusing on HELPING US OUT, NOW! We're in crisis and Ukraine is going to have to help themselves or other countries are going to need to step up and help them but right now, my concern is my own country, my families, my friends, my neighbors, my fellow Americans. We need to come first, right now.

@timschultes6467

Жыл бұрын

We don’t need to come first only right now! We need America first all the time every time. I’m tired of my hard earned dollars going to every other country but ours. America first policies work and the current administration is America last.

@MeadowDay

Жыл бұрын

@@timschultes6467agree, this country’s in the toilet thanks to Bijun and his crooked cronies!

@danacaro-herman3530

Жыл бұрын

​@@timschultes6467Amen!!

@JK-ml8id

Жыл бұрын

I understand your sentiment but you are acting as though we can't walk and chew gum at the same time. The $75 billion that we have sent to Ukraine over the course of a year and a half is peanuts compared to what it would cost us if Russian aggression spills over to the rest of Europe and our NATO allies. We have an annual budget of 2.6 trillion dollars. You are right to be frustrated with the inaction of all politicians on many issues but to pull back from the rest of the world and think that that will have no impact on us in the future is shortsighted in my mind.

@dubonett8239

Жыл бұрын

​@@JK-ml8id Thank you! This is the only smart comment here. History repeats itself. Remember what happened with Russia after WWI? Yeah, that can happen again. Also, the aid sent to Ukraine come from a different fund, that has already been set aside for this. What we need is a Governor who does not bend to every demand from insurance companies. But if course his does, they give him money.

Surprised there was no mention of a Wind Mitigation Inspection. That can sometimes save a considerable amount of money.

@jennyosiwala

Жыл бұрын

That was a topic we discussed in one of our last videos and I will definitely take note to mention it again in one of our future videos. 🙂 They do provide significant savings for most homes! The great thing about those inspections too is they are good for up to 5 years with the carriers. After that they want an updated inspection.

@carylhalfwassen8555

Жыл бұрын

My new insurance company has a satellite or drone photo of our home to confirm the mitigation amenities we claimed. My previous company went bankrupt from claims for Hurricane Irma, before Ian. But the mitigation improvements reduced the premium by $16,000.

Metal roofs are the way to go , shingles burn up in the hot sun . Metal last @ 50 years . Go figure . 😊

This statement is not necessarily true. I live in Cape Coral just after Ian, on my way to wait on line for fuel, I can say that I saw NEW builds with blue tarps. I'm speaking of new builds not older than six months. So just being a new build is no garentee of being better.

Just take a large deductible or go to pool insurance , or both . 😢

All the movie stars and very wealthy r moving to Florida. Increasing costs. Pushing / running people out of state.