The home insurance crisis in Florida
Right now, Floridians are dealing with an insurance crisis. This week two insurance companies asked Florida for more than a 50% rate hike. Reporter Nadeen Yanes took a deeper look as to why. Plus, our panel consisting of our Janelle Irwin Taylor, Publisher of Southeast Politics and Dr. Susan MacManus, our political analyst is here. We discuss if lawmakers can solve Florida’s cost of living problem, the 2-year anniversary since Russia invaded Ukraine, and more.
Пікірлер: 95
Lives an a mansion "we're on a fixed income" lol
@jer1776
5 ай бұрын
Meanwhile most Gen Z/Millennials cant even afford a condo
@saidtheblueknight
5 ай бұрын
Not that hard to believe, it mentions right in the beginning the owner was with that company for more than 20 years. So presumably those people bought the house decades ago while they were working, they paid it off during that time or have very little left and are now retired and enjoying their hard work.
@Bradimoose
5 ай бұрын
@@saidtheblueknight so how is that a fixed income? Investment returns aren’t fixed they fluctuate
@kenmoreSF
5 ай бұрын
with a pool and probably a guest house too.
@tofuyam7361
5 ай бұрын
We been scammed by the artifical housing constraints with single family home zoning and these mini-mansions.
No body complains when house prices double.
@dennisdragomir7572
5 ай бұрын
except new buyers
@RomaSF
5 ай бұрын
@@dennisdragomir7572 true
@jaybartgis5148
5 ай бұрын
Laughs in first time home buyer
Who pays 295 annually for insurance? Really?
@johnnewby2043
3 ай бұрын
Or $450 annually?? Right
I feel bad for the people with mortgages who have no choice but to buy a policy.
@chillwill5080
5 ай бұрын
I don't, it's not like you couldn't do research before buying.
@xtrey19x
5 ай бұрын
You talk as if most people can afford to self-insure. Sure they can self-insure as longs as the house doesn’t burn down or is blown away in a category 5 hurricane.
@CrashOutTiming718
3 ай бұрын
You have to be outve your mind to get stuck w a mortage down here 😮
Own nothing and be happy!😎
One more storm. If you own a condo you better dump it before next year.
@UncleDavesKitchen
5 ай бұрын
People moving to Florida need to buy house boats
@Chinaglo24
5 ай бұрын
That what I did I sold my condo very happy I did never again.
that blonde lady is definitely a trumper, to say fuel and food is a bigger problem than a 59% increase in property insurance is absurd.
@johnnewby2043
3 ай бұрын
My food and fuel increase the last three years far outweighs my insurance premium cost & cost increase...by far
@ar3421
2 ай бұрын
@@johnnewby2043 My insurance premium increase the last three years far outweighs my food and fuel increase. -...by far
Got all this money to help out of country wars and newcomers coming our nation getting 10,000 gift cards. Let us keep our money. we don't want your high insurance bill. Many are on a fixed income. When you raise our fixed income maybe we'll pay. I'll keep my money. No middleman needed. This isn't right.
The cloud over the sunshine state is our insurance crisis. Much of this has been caused over the years by our legislators. As far as cost drivers, the excessive litigation is again part of our legislatures inability to act. When you take away the policyholders remedies to resolve a dispute and only leave litigation why would you expect anything else that insureds use this method. The non litigation- appraisal clause had been an insurance policies for over 100 years And now it’s almost impossible to find policies that contain an appraisal provision for resolving disputes. The fact that insurance companies have gained a reprieve from litigation only emboldens them to behave badly. Nobody speaks about the elephant in the room including this news outlet.
rates are based on risk.
@johnnewby2043
3 ай бұрын
And replacement costs...so it has to go up... and they printed $10 trillion dollars.. so it has to go up
America first, we need to stop giving away money to every other country in the world.
If you can afford a beach front home in hurricane alley you should buy one. But you should not expect home owners on higher ground to subsidize your insurance.
The Ukrainians listened to the us who pushed for Ukrainian membership in nato. If they had had any kind of intelligent leadership, they would have realized exactly how things would play out. This debacle was avoidable and is mostly caused by the neo-liberal policies of the us government. I don't support more arms, l support a resolution to the problem. Something the us government doesn't want to do. These people represent the oligarchy that has taken over this country, not the citizens.
Corrupt Governor = Corrupt system.
I have never seen anyone under the age of 50 on any of these videos lol.
Looks terrible to me. An endless field of rooftops with minimal nature, no privacy and surrounded by other humans choking the life out of Florida. Is that termite mound in this picture supposed to be inviting? I surely think not.
@chillwill5080
5 ай бұрын
That termite mound is only $499 a night before the $250 "cleaning" fee. Obviously a bargain for the area. 😀
lobbyists gonna lobby
insurance is evil
everyone is on a fixed income. unless you own your own business. which is often worse than a fixed income. so whats your point about being on a fixed income? I'm on a fixed income yet employees want higher pay. so tell employees no they cant cause im on a fixed income
Florida is sinking.
@UncleDavesKitchen
5 ай бұрын
Yes, it is. When the Doomsday Glacier lets loose most of Florida will be part of the Atlantic Ocean.
There is a premium for paradise
@williamfernandez1241
4 ай бұрын
Florida is hardly a paradise
How did you think , "you will own nothing , and like it" was going to happen
Florida here, south Florida. Actual insurance cost is over 5k annually. Wish they would of reported more realistic price not 400 a year which I’m sure they had to search hard to find someone paying that little.
I'll say this again and again! Let us insure would we as homeowners, Insure what we would like to insure on our house and Property at the amount WE want. Period wy are there requirements by laws. Example auto insurance with only with PIP and Liability. Please help me with this question.
@faepage5157
5 ай бұрын
If you have a mortgage the banks dictate the coverage. I’m mortgage free and honestly would prefer fire and liability only. I have friends who live on the water and decided to self-insure, scary!
@anniesshenanigans3815
5 ай бұрын
right now the only option is self insure. Insurance companies are in it to make money not to help you or me. If I could only get the 'liability' type that is what I would do. At present with a small mortgage left to pay, they are gouging me for over 6k a year for various 'required' insurance that has so many clauses and exclusions I am surprised they are not embarrassed to write it.
Pay cash. No insurance necessary.
start building off the ground because they build houses on the ground flooding is what you get
Try dealing with a HOA... double your fun
I am SO glad I am leaving Florida. I HATE this state! This is not The Sunshine State anymore, it's HELL!
I live in a much smaller home with no pool. My insurance is $900 a year in Pa. I would love $450 per year.
That’s super cheap insurance premium even with 54% increase!
@davidwright873
5 ай бұрын
450 bucks?....yearly?.....I pay that monthly for med insurance!! wow..that is cheap!!
@bobdole870
5 ай бұрын
It’s confusing because it says “dwelling fire” on that list. Not sure why they’d use that specifically. I pay $100/mo for a tiny place in Iowa.
@faepage5157
5 ай бұрын
@@bobdole870 I’m in Florida, 3miles from the beach, non flood zone and for Full coverage package policy I’m paying $3,699. a year and I expect it to increase at renewal in May!
@chillwill5080
5 ай бұрын
@@faepage5157 If you are three miles from the beach, you are a huge hurricane risk.
@anniesshenanigans3815
5 ай бұрын
yes I pay 825 a month to cover my insurance and taxes. She is getting a STEAL of a deal.
This is just not sustainable. The whole system is going to melt down.
The Federal Government needs to take over the Home Insurance industry. Private companies DO NOT WANT THE RISK! So let FEMA take over home owners insurance like they did for flood insurance. The American people need something to be done. People are losing their homes because of ridiculous insurance premiums just skyrocketing out of people’s ability to afford it. That is if you are able to find an insurance company willing to write. Congress please help the American people!
These insurance giants needs to be audited follow the fucking money and we’ll see where the problem lies and it’s most likely in the pockets of these institutions
@chillwill5080
5 ай бұрын
You'll be surprised to follow it around the corner and find the people you voted for standing there with dollar marks on their lips. 😕
@iwishpeoplecaredagain
5 ай бұрын
Bingo
The executives of these insurance companies need to buy more private jets and yachts.
These increased claims.... are they from..... climatte change?
Move to a state that dont have high risk then ND
I was offered $14,000 premium for $100 grand coverage in Key Largo
@monarene44
2 ай бұрын
that's insane. get a camper for under $10k.
What entitlement, what whining! If you can’t afford the insurance, sell the house or get a fricking job! “But I’m retired.” It’s particularly galling because this woman just had a claim. Home insurance is a privilege, not a right.
You live in a state that has water everywhere thats the price u pay
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On behalf of ABC action news, the anchor said America likes to help(take advantage) of other countries when they are hurt bad.
She's retired, she may have to go back to work.
@kenmoreSF
5 ай бұрын
why? she owns a mansion with a huge pool and probably a hefty investments. Looks like she's doing ok and doesn't look like she missed a meal.
MacAnus needs to retire and move to New York.
sell homes and move to cheaper states
Homeownership.....lol....the American Dream!! lol....
Who knew thieving hoas and insurers .value gone. .
Tired of this 'fixed income' whine... everyone is on a fixed income. The only people that should be saying that is the people living on Social Security alone. they truly ARE on a fixed income.
Reparations for homeowners forced out of their homes because of rising insurance.
Illegal. All flagrant illegal. Insurance companies should not be allowed to be in business in states where they are greedy and in bad faith to their customers.
You will own nothing and you will be happy
Wow this guy is very partisan. Is he a news anchor or a leftist political activist?
@RBzee112
5 ай бұрын
Because the issues politicians talk about don't effect my life, but insurance does.
@kenmoreSF
5 ай бұрын
I thought of the same thing when I saw that. Dude has some serious TDS. People don't want to watch anchors who read news and take some cheap jabs with their political views. What a d-bag.
If Europe is weak, that's better for us.