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Florida homeowners insurance rates rising with inflation costs
Property Insurers and insurance agents claim that significant rate increases right now have a lot to do with inflation and the increase in cost to rebuild a home.
Property Insurers and insurance agents claim that significant rate increases right now have a lot to do with inflation and the increase in cost to rebuild a home.
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Taxes and insurance will probably surpass mortgage payments as the primay cost of home ownership.
@angel-ij4xv
Жыл бұрын
these crooks try to get every dime out of you
@joshs9066
Жыл бұрын
And then when it comes time to do right and pay out for a loss they find any and every resource to deny your claim. Biggest thieves in the entire world
@dreamer6508
Жыл бұрын
There should never be taxes attached to private residence, in other countries there is none
@Lik3ToSing
Жыл бұрын
What would be the solution?
@Jack-russell103
Жыл бұрын
Already does
Its all a SCAM
@Wisepati
Жыл бұрын
Exactly how is it a scam?
@HebrewJerusalemPrince777
Жыл бұрын
Exactly. They’re using inflation as an excuse. A statistic data showed that inflation is nowhere near the amount of money that they’re charging.
@Scott-fy7fm
Жыл бұрын
@@HebrewJerusalemPrince777they're charging more because it's required for them to afford to even stay in business down there. If it was a profitable scam so many companies wouldn't be fleeing the state entirely
@tesla82111
Жыл бұрын
The most costly storm to ever hit Florida at $109 Billion happened less than a year ago. How is home insurance rates rising a surprise?
@Daniel-es9dq
4 ай бұрын
Every insurance company in Florida is paying more than they are taking it. If they don’t increase rates they will close. Get the public adjusters and bus stop lawyers under control.
If the insurance companies are saying its inflation, you can guarantee it's NOT inflation. Like every other company saying "its inflation", its really price gouging.
@jilo874
Жыл бұрын
Look at all states balance sheet. They are losing so much money they should be called a charity.
@francismarion6400
Жыл бұрын
Materials cost more, labor costs more.
@shanerogers9386
Жыл бұрын
Don’t forget the artificial home prices propped up by corporations and speculators
@Sonofawildanimal4241
Жыл бұрын
Home prices increased by 40% in less than 48 months. Why are we acting like that is normal?
@bobbybrown6646
Жыл бұрын
They passed a Florida statue last year were the builder only has to pay one percent interest for the loan to rebuild. It’s a big club and we’re not in it.
Florida…come for the low taxes, leave because of the all the ridiculous fees, high utilities and outrageous home/auto insurance costs.
@jayson657
Жыл бұрын
@@geocam2 what a stupid comment. I don’t look to get anything for nothing. My comment has to do with people still believing Florida is a cheaper place to live than others. That is no longer the case!
@jayson657
Жыл бұрын
@@geocam2 When did I ever say I didn’t want to pay for taxes and insurance??? You sound like a typical Florida person. Can’t even have an intelligent conversation because you can’t comprehend a simple statement without getting nasty.
@darrylsheffield7102
Жыл бұрын
Thank you Ron desatan
@underground9260
Жыл бұрын
Even with the high property taxes in Illinois, it’s still cheaper to live there, than it is in Florida.
@Scott-fy7fm
Жыл бұрын
I don't do either, I just visit for the meth
So glad I got out of that overpriced shit hole 2 years ago.
@mlohorn
Жыл бұрын
i got out 4 years ago and thank the heavens i did! i wont even visit the state anymore!! sorry mickey mouse,, ill go to california if i need a disney fix. florida is OFF MY LIST forever!
@vblic
Жыл бұрын
@@mlohorn Thank you one less human in the state.
@PHL1213
Жыл бұрын
@@vblicand one more human who stays in Florida makes the rest of the USA so much better to live👍
Why actually tackle this issue when we can just focus all our energy on WOKE!!!😂
He’s to busy playing with Mickey 😂
People have for decades been claiming that my home state of CT is too expensive to live in and moving to FL. We see so many FL plates on cars around here because we pay personal property tax on them and FL doesn't so everyone "claims" they live in FL for 6 months + 1 day, even though they're here the majority of the time. But in reality, people in FL weren't paying the true cost of living there. It was heavily subsidized by the federal government bailing them out after every hurricane and artificially low insurance rates. Now I don't hear anyone talking about moving to FL anymore, and several I know have moved back full time.
@richardfloridaman
Жыл бұрын
I am from Florida and now I'm in Kansas City, Missouri. I left the madness and the wages are so low in Florida, too. I see Florida license plates everywhere in Kansas City.
@underground9260
Жыл бұрын
Yep! We’ve had 3 different neighbors from just my block came from Florida. And I live in Illinois.
Florida,where you don't have to go woke to go broke😂😂😂
@E-stylz-1967
Жыл бұрын
👍🏾😆👍🏾
"We can tweak." Funny how they always want you to give up something while paying more. I've never had an insurance co call me and say "hey we're doing this for your benefit at no extra cost to you." It's NEVER a two way street.
@Scott-fy7fm
Жыл бұрын
It's Florida, of course there will be tweaking
Sounds absolutely crazy, I have a high-rise condo right in a great area of downtown Detroit on the river and a great cottage on a small lake in northern Michigan, I paid $1300 total a year for both, can’t believe what people are paying in Florida, just craziness, feel sorry for them
@scott331
Жыл бұрын
Thank Ron Desantamonious😂
@rubenpicallo62
Жыл бұрын
How u going to compare shit hole Detroit to a place like miami lmao
@Wisepati
Жыл бұрын
@@scott331 actually it’s not his fault. The weather has a lot to do with it and the rise in the price and value of the houses.. it costs more to replace them. And there is that issue with the rising water because more houses are going to be in the floodplain.
@phyllisfrankel5838
Жыл бұрын
So wait- the reason millions upon millions ran down there because it’s paradise was because of low prices and great weather? Lol they both suck
@joesmith3590
Жыл бұрын
Lol just wait for that special assessment
Insurance is the biggest racket.
@Scott-fy7fm
Жыл бұрын
Nope, it does exactly what it is supposed to, it allows normal people to actually buy a home or car
The biggest money giver to politicians in Florida who do you think it is.
@scott331
Жыл бұрын
Insurance Lobbyists 😂
@Wisepati
Жыл бұрын
It’s lobbyists of all kinds. But you know that all of these insurance companies have to submit their rates to the state to be approved.
@MM-ig2zq
Жыл бұрын
@@Wisepati yes. Usually they deny their initial hike but insurance companies always get the ok for higher premiums. What happen to all those years without hurricane claims, big profits.
The problem is greed.
@williamjohnson1880
Жыл бұрын
Yeah and the state doesn’t stop the greed
@tesla82111
Жыл бұрын
The most costly storm to ever hit Florida at $109 Billion happened less than a year ago. How is home insurance rates rising a surprise?
Next year I will probably be priced out of FL. As much as I love what FL has to offer, this is ridiculous.
@rjo8500
Жыл бұрын
Rent, it’s less stressful. Owning is overrated and works best for the wealthy.
@Sonofawildanimal4241
Жыл бұрын
Home prices increased by 40% in less than 48 months. Why are we acting like that is normal?
@PHL1213
Жыл бұрын
I truly hope you stay in Florida 👍
@shanerogers9386
Жыл бұрын
100-400 percent higher vs the start of 2021 here in Delray Beach. Mostly driven by flippers and investors fleecing the market. There has never been so many speculators hoarding homes.
@juanthompson8016
Жыл бұрын
@@PHL1213it's not worth staying if struggling
I'm up 66% and now pay 7k for full replacement and 2% hurricane. I know people who pay over 10k now.
@carolynwheaton9884
Жыл бұрын
That's crazy 😧
@underground9260
Жыл бұрын
@@carolynwheaton9884 that’s insane! I only pay $900 here in Illinois
And now, if we want to move, we have to sell our home to rich people because who else can afford to live in Florida under these circumstances. They're forcing US all out of our homes and our state!
Cries in $600 a year home insurance.
@tesla82111
Жыл бұрын
Same bro AZ gang rise up
How is all that " Freedom working out ? You are all beholdin to the insurance business!, Funny, the insurance companies don't seen to address the roofing scams, and bs litigation.
@juanthompson8016
Жыл бұрын
People think Florida is the only state to move to 😂. There are other great states out here.
Self insure your screen enclosure???? Those are never covered!
Inflation is blamed for everything now. I see.
Not that this is an easy issue to solve but Florida politicians made it easier for companies to do whatever they want and monopolize the market. The monopoly from utility companies or no caps on rent increases are a couple of examples.
I think when insurance companies are doubling or more, premium increases, then they should be required by law to provide notice to the insured a full 90 days before policy renewal. How many people just happen to have an extra $1500 --- $5000 sitting around to pay for the massively increased premiums?
@davenone7312
9 ай бұрын
Better yet now many have $150,000 --- $500,000 to rebuild after a hurricane wipes them off the face of the planet?? Thats the real question!!
I know a person that had their homeowners insurance premium triple, So they replace their roof from a shingle to a 24g metal roof and the only deductions after the new roof on were $131.00 Unbelievable.. These insurance companies are robbing people
The problem is mandatory Replacement Coverage. Personal example. I wanted to buy a house valued at 100K fair market value. I got insurance quotes based on a $300K replacement value! It was a small house. Is this a law or something the companies are colluding on?
@lateblossom
Жыл бұрын
Exactly.
@bargdaffy1535
Жыл бұрын
Yeah, Insurance Laws are a mess in Florida but it is mostly about Roof Replacement and lawsuits frivolously brought by Roofing Contractors against insurance coverage that is also very predatory and since the State Legislature is pretty much owned by Insurance Corporate Powers nothing seems to change.
@scott331
Жыл бұрын
Thank Ron Descamtis and the Floridas GOP excepting Lobbyists money for their election campaigns😂
@francismarion6400
Жыл бұрын
Lawyers. Roofers don't sue insurance companies.
@VoteForBukele
Жыл бұрын
@@francismarion6400lawyers don’t do anything without a greedy client.
My insurance has tripled in the past 3 years from 1100 to 3600
Voted for deregulation to create more competition. Then complain about price increase. 😁
@Wisepati
Жыл бұрын
So have the rates in Florida been deregulated? As far as I know, all rates have to be submitted to the state to get approval for the increase and have to be justified.
@tesla82111
Жыл бұрын
The most costly storm to ever hit Florida at $109 Billion happened less than a year ago. How is home insurance rates rising a surprise?
Home, Auto & Medical insurance become a *Ransom* You will also notice insurance monopolies lobbying to make home owner's insurance mandatory if you take out a 30 yr. government backed mortgage.
@Scott-fy7fm
Жыл бұрын
It's already mandatory, as it should be. Why would you expect taxpayers to support other people's voluntary house purchases and repairs?
I have to explain daily why mortgage payments are increasing and it's because of insurance and taxes. Florida, Texas, Louisiana, and parts of California due to fire in certain areas. I've had folks tell me they might sale because they can't afford the insurance.
@MyLifeThai371
Жыл бұрын
I remember years ago when people said they would not insure homes in the woods in Colorado, because of the likelyhood of forest fires.
@stephaniejames4940
Жыл бұрын
@@MyLifeThai371 The companies I worked for wouldn't touch them. They would refer them to another company.
@tesla82111
Жыл бұрын
The most costly storm to ever hit Florida at $109 Billion happened less than a year ago. How is home insurance rates rising a surprise?
@davenone7312
9 ай бұрын
@@tesla82111 These idiots are so stupid they have no clue as to what youre saying! They want their home completely rebuilt for nothing!
Florida’s governor and legislature don’t really care about this, not when there may be gays or transsexuals visiting Disney. That’s what really matters.
People don’t understand how insurance not just home owners insurance works. Everyone pays premiums that goes into a pool of money that is supposed to be used to pay for things covered by the policy. Insurance companies estimate rates based on RISK (in this case the likely hood of a natural disaster) a lot of things are factored into this risk assessment. If the insurance company makes a mistake and they don’t charge enough premiums and disaster strikes they won’t have enough money to pay home owners for repairs and the insurance company goes bankrupt.
@alexlifeson8946
Жыл бұрын
Insurance companies bank on people like you thinking that way
@Jack-russell103
Жыл бұрын
Insurance companies should be non profit
@Mogardie
Жыл бұрын
@@Jack-russell103 the business you work in should be non profit
@Jack-russell103
Жыл бұрын
@@Mogardie oh really and why is that???? I’ll wait for this gem of a effi g answer. Come, on idiot boy
@Dfgbuiiyyyybb
Жыл бұрын
@@Jack-russell103 that’s called the “government” and everyone hates them so I guess you’re stuck with the current model.
BS. There is a law the builder can get a loan for 1% interest. This is all about the $$$$
Call it what it is, Greed.
@markmildorf2873
Жыл бұрын
I hear you, but why is Florida so much worse? More greed in FL than the other 49 states?
@angel-ij4xv
Жыл бұрын
exactly they are being greedy
@Wisepati
Жыл бұрын
Well, if it is so lucrative, why are insurance companies leaving Florida?
@ormondbeachr1
Жыл бұрын
Call it what it is, blind ignorance of the market.
@Scott-fy7fm
Жыл бұрын
If that was true insurance companies would be looking to go to Florida, not be fleeing it
I dont even live in FL and my home insurance is doubling from last year. And thats with a $1000 deductible. I don’t understand…. Just gotta keep at it till I finish paying off this mortgage. From VA.
@Lik3ToSing
Жыл бұрын
Hmm maybe you live close to the coast ? Mine went up about 25%
@jasonc.5175
Жыл бұрын
Live by the DMV area, no coast.
Think the Florida insurance crisis sucks. Just wait til you see the next Florida self inflicted crisis on the horizon. Healthcare. Its already affecting many in "quality of service" but costs will be the real issue for Florida residents.
Now you can add the lack of workers.
If it wasn't for the weather, I would not have a home in FL. The replacement costs are way to high for the stat The labor costs are cheap in FL. But the cheap labor costs are not passed on to the homeowner. Insurance companies pay double for a roof replacement than I would on the open market. The guys in the trades who work new builds for the sub contractors for DR Horton and company don't make swat. When the storm comes, they quit. Then they go make real money on the storm rebuilds.
Pack. Leave. Fast. 😐
These insurance agents all get a cut ya know. While they tell you to tweak your wealth. How’s about they take a cut? If it’s mandatory for most homes, let them sit and make $15 an hour selling policies. Flat rate for all of them.
@Bradimoose
Жыл бұрын
They're making alot, Insurance agencies get 10-15% of every policy in commission and on renewals. Higher the premiums go the more they earn.
@bobbybrown6646
Жыл бұрын
@@Bradimoose while the claims agent is sitting in a sweatshop of a cubicle making $18 bucks an hour.
Because our country doesnt do anything right.
@TDN78899
Жыл бұрын
Your country does a whole lot right, that can’t be said for your politicians.
@brocklanders6969
Жыл бұрын
Then leave.
@Wisepati
Жыл бұрын
@@brocklanders6969 that’s a lot harder said than done nobody wants a Americans to immigrate to their country.
Yeah sure, lets focus our attention on inflation. Why not focus on the real reason insurers are leaving and dropping people. We need some new companies to come in under the new regulations and compete for market share. The premiums are not going to come down until the insurers have a reason to try to keep customers.
@Phillipnoogen
Жыл бұрын
Lol new companies will not enter Florida because it's a risky investment. They are here to make money not lose money. Especially with the weather conditions in Florida.
@Sonofawildanimal4241
Жыл бұрын
Home prices increased by 40% in less than 48 months. Why are we acting like that is normal?
@Sonofawildanimal4241
Жыл бұрын
That’s inflated to me
@tesla82111
Жыл бұрын
The most costly storm to ever hit Florida at $109 Billion happened less than a year ago. How is home insurance rates rising a surprise?
"Make Florida Expensive Forever = MFEF"
Self insure? How...houses cost a fortune. There is no way personal savings can replace your home unless you are already rich. And if you are under a mortgage home owner's insurance is MANDATORY.
Floriduh 😂😂😂
We don’t have enough construction workers or building supplies. If we increase the supply then these premiums will drop
This is great. I'm from Florida born & raised and I had to leave due to the influx of wealthy people driving up prices. I am so glad you folks are now getting the karma you deserve. Folks this is just the beginning. Property insurance, property taxes, car insurance, its all going UP!!!
@mitch.ricooo
Жыл бұрын
bad take. this is screwing over locals too. if anything the wealthy people coming are eating the increase with no issues. it’s the people with less means that are getting screwed.
@richardfloridaman
Жыл бұрын
@@mitch.ricooo glad y'all are suffering too. I had to leave, no one sympathized with me. Misery loves company.
@ryanshaffer4956
Жыл бұрын
Im from here also and im having to leave too. Could not of said it better myself😅
@tonymemory2279
Жыл бұрын
I agree 100%, hopefully a big massive hurricane likes Florida off the map!
@lynndavist
9 ай бұрын
@@richardfloridaman so you just turned into a demon?
The price of a home in Florida is starting to drop now. Because of rising property taxes and insurance it is now no more expensive to live in some place like Rochester NY then in Florida and in Rochester, although you do have a winter, you don't have that never ending brutal heat, hurricanes and insane increases in insurance rates and property taxes. Also, houses are larger for the same money and much better built in upstate NY and the public services are much better then in Florida.
Homes in the US are very poorly built. My husband and I are quite surprised how cheap the quality of homes in the US are. Also Florida is a hazard for natural dissenters, insurance companies are there to protect themselves not the people they serve.
@Scott-fy7fm
Жыл бұрын
Poorly built but also much cheaper.
The reason they want new roofs is that contractors have solicitors that go around after a storm and tell people we can put a new roof on your house for free. Even if there is little to no damage
@rack9458
Жыл бұрын
If there is no damage they won't receive any insurance money. If there is "little" damage, should the damage be covered by insurance?
@tomb57
Жыл бұрын
@@rack9458 After any storm there is some damage, I equate this practice by contractors to an ambulance chasing lawyer. They are going to find damage and they are going to inflate the cost as much as they can. They will take an 30K roof replacement and make it a 80K roof replacement and insurance is a pool of money where our premiums pay for our neighbor's losses. I definitely think the department of insurance should also investigate insurance companies to make sure they don't have excess profit's. But how many people have to pay their insurance to cover one roof claim 30 people?
@rack9458
Жыл бұрын
@@tomb57 Insurance Adjusters are trained in roof or home replacement cost. The contractor can't artificially inflate prices.
@tombushman8029
Жыл бұрын
@@rack9458 in a perfect world I wish the wasn’t insurance fraud but unfortunately there are a lot of contractors that overcharge and even lie
Don't worry. Your governor will fix this - right?
Insurance companies shouldn't insure these high risks homes in the first place and we would finally see people stop building homes back in those areas and our Insurance payments wouldn't keep going through the roof to cover these idiots who keep building back in high risks areas.
Some people don't live in flood zones .But will still have to have flood insurance.
@tesla82111
Жыл бұрын
Hurricanes don’t care about flood zones bucko
Im goin through this right now! Its ridiculous that they think that a house worth $200k-$300k would cost double to rebuild. When they are building new homes cheaper than older homes on the market right now. Makes zero sense!
This is what you get for living in a hurricane prone zone where a lot of houses get destroyed every five years. The rest of the country is subsidizing Florida and other states where natural disasters are regular occurrences.
@rooster1012
Жыл бұрын
Homes get destroyed every 5 years? Whose home gets destroyed every 5 years?
@Shadow-7773
Жыл бұрын
@@rooster1012 Florida, in general, is hit by an astonishing number of powerful hurricanes. Of 290 Category 1+ hurricanes documented by HURDAT since 1851, 117 - or 40 percent - have occurred in the Sunshine State. folks should be paying more, they choose to live in Florida, with all of the sunshine and beaches? The price to pay is what it is. Folks need to come to grips with it?
@954dreamer1
Жыл бұрын
For real facts
@ISpitHotFiyaa
Жыл бұрын
@@Shadow-7773 They already ARE paying more. They always have been. Hurricanes are nothing new.
@tesla82111
Жыл бұрын
@@rooster1012 The most costly storm to ever hit Florida at $109 Billion happened less than a year ago. How is home insurance rates rising a surprise?
Maybe if your governor worked on issues like home insurance instead of made up crap you would be better off.
Sky is the limit suckers 😂
What a scam! I own a beachfront home in Costa Rica worth about 1.5 million dollars. I have owned the home 8 years, with no insurance. My area has great weather, and no hurricanes. The funds I save on insurance, I use to upgrade my home, and invest.
@Dfgbuiiyyyybb
Жыл бұрын
If you own your home out right like buy it was cash it’s up to you if you want to have insurance. Buy with a mortgage banks won’t give you a mortgage without adequate insurance coverage.
@Wisepati
Жыл бұрын
And why is it a scam? If you have great weather, and no hurricanes, then your insurance cost would be low. The problem of Florida is it they have a lot of bad weather and there’s also rising water, which is going to lead the floods. Or maybe you were just posting to brag about what an expensive house you own?
@fenian123
Жыл бұрын
@@Wisepati Hurricanes are not common there but they do hit
😂😂😂 stop scamming… now it’s time to pay
In California the Insurance commissioner just forced insurance companies to cover high risk fire zone areas. To cover this HUGE expense he has allowed them to spread those huge increase in rates to all Californians!
Now, who's going to say it's cheaper to purchase a home?
Find a better place to live or retire. There so many places to live and have a better life.
no local taxes....hence ya have to pay MORE in property taxes as the money HAS to come from somewhere. Want to live in a storm state........so pay the insurance so the companies can make a profit, its called Capitalism.
It's not inflation, it's naked greed.
I am in hurricane-proof, tornado-proof McAllen, Texas, never filed a claim, and my rate went up 20% in 2023.
@Wisepati
Жыл бұрын
You might want to check your risk again. Your city has a high risk of high wind damage.
@ISpitHotFiyaa
Жыл бұрын
That's just home prices. If the price of what you're insuring went up 20% then the cost to insure it will also go up 20%. Has nothing to do with risk.
Desantisland!
Better to own a Flat in the Highrise Buildings.
My insurance company (Slide) wants to increase my annual premiums by 131%!! Give me a break!
How about I go down to Florida and start a cheap insurance company and wipe the floor with the competition. Then when a hurricane hits we don’t have enough money to payout and people are stuck waiting years to get their house repaired. Or they get a drastically decreased amount of money.
people ,news talk about but nothing gets done about people with low income can not pay those high prices i understand 50 100 200 0r 300 raise but not thousands
Car insurance shot up too.
When the price of a house goes up 40% in two years then the cost to insure that house is also going to go up 40% (and also in two years unless regulators limit it).
Greed
How about you replace your roof. These people are ridiculous. They should have to pay more
Your governor is too busy running for President.
Inflation trending down now. When will the price gouging stop?
@jayson657
Жыл бұрын
Exactly just like when gas prices go up by its but 10 and 20 cents overnight but when they come down it’s by pennies. Funny how it always seems to work that way.
@Jack-russell103
Жыл бұрын
@@jayson657 no supply chain issues either…..inflation yoy is now at 4.0%. We are told the target is 2%. What’s going on?
@tesla82111
Жыл бұрын
The most costly storm to ever hit Florida at $109 Billion happened less than a year ago. How is home insurance rates rising a surprise?
Same thing happened to me. This is out of control. This needs to be address by the Governor- LEts go Ron!!!
@scott331
Жыл бұрын
Blame Ron Descamtis and his GOP colleagues for allowing this to happen. Remember, insurance lobbyists are paying for his Presidential campaign 😂
@pl6935
Жыл бұрын
Roofing scam caused this
@raspberrymoon5144
Жыл бұрын
Pfft! He cares NOTHING about Florida! He's too busy pretending he can be potus someday!
@Wisepati
Жыл бұрын
@@scott331 so if it is so lucrative, why are insurance companies leaving Florida? Maybe people should start an insurance company.
@phallondavenport470
Жыл бұрын
Ron DeSentis is too busy running for president. He don't care about the people in Florida
It's greed .
New york dosen't do that because we pay taxes.
I shouldn't have to subsidize Florida's homeowners with rate increases on my house. I don't live there and am not near a hurricane zone!
this entire state is unnaffordable
Not inflation, just plain greed. Hope that clarifies.
@tesla82111
Жыл бұрын
The most costly storm to ever hit Florida at $109 Billion happened less than a year ago. How is home insurance rates rising a surprise?
Take a look at political donations to the governor deesantos boy for the rate approval increase. Deesantos boy Ya gi me da bribe money and you get approval on your rate increase
Why doesn’t this person talk about all the people who are getting dropped due to the AGE of the home.
@bobbybrown6646
Жыл бұрын
@@geocam2 you mean manufactured homes? If so, one would buy straps? Ty
Has anyone else that have there home paid off , have their Property taxes Spike almost triple ?
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.
"You will own nothing and be happy." Wake up America.
Even when u cut coverage like personal item etc the insurance company only takes a little off the bill not worth it and if u own ur home outright and tell insurance dont insure for hurricanes just fire etc they drop u so another words legal extortion
It's already hurricane season and some tropical disturbance off of Africa is headed toward Florida with a new Category 5 storm! Kiss more insurance companies bye bye!
Unless this man lives in a garage there is no replacing a house for $300K.
@Scott-fy7fm
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Have you been to the panhandle? There's houses you could replace for $300
the cost to replace a property has gone up 30% in the last 5 years... thats why his insurance rates went up 500%?
@tesla82111
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The most costly storm to ever hit Florida at $109 Billion happened less than a year ago. How is home insurance rates rising a surprise?
FL has to come up with law that will prevent roof fraud by contractors that’s why insurance companies leaving it’s mostly man made caused
The state I live in I pay 450 a year for full coverage , how does it feel to be a sucker
Paradise?? 100 degree with humidity?? Clown
Feds say inflation is going down!
The cost of pain and Vaseline is going in and up. Ouch.
Try being a landlord that owns several properties and rates keep taking away from your income
Cost to rebuild your homes just went up, because all the highly skilled Mexican Day Labors left the state.
The politicians in Florida are doing nothing for us homeowners
Most whiny homeowners do not to pay a fair amount for their coverage even when they live near the ocean or other places in Florida likely to receive storm or hurricane damage.
Yes you pay 3x times the national average... But you have 3x the risk!