Headline: Homeowners insurance crisis hits villages

[bsloan1960]

Link to story: Florida’s homeowner’s insurance crisis hits The Villages – WFTV (https://www.wftv.com/news/local/floridas-homeowners-insurance-crisis-hits-villages/DZW5PL6XJ5HUPB6YIRXWLJTREM/)

I just spotted this. Is anyone being affected by this / have ideas get affordable insurance?

[villagetinker]

We use progressive, bundled, home, auto, golf cart.

[bsloan1960]

We use progressive, bundled, home, auto, golf cart.

Progressive is one of the companies featured in the article. The Villages homeowner's whose insurance premium increased by 69% use Progressive.

[Babubhat]

No issues here. More clickbait

[asianthree]

No issues here. More clickbait

Guessing you are one of the few that didn’t increase. Our went up 47%, switched, and already know my next renewal will be much higher. Watched insurance change drastically over the last 13 years, in TV. No clickbait needed, just hands on information

[pauld315]

No such thing as a free roof all your neighbors scammed the insurance companies for

[TSO/ISPF]

Guessing you are one of the few that didn’t increase. Our went up 47%, switched, and already know my next renewal will be much higher. Watched insurance change drastically over the last 13 years, in TV. No clickbait needed, just hands on information

Maybe the "Developer" can come up with a solution. They have a bank, why not start and insurance company?

[tonyt57]

No body scammed anybody. If one doesn’t need a new roof, the insurance adjuster and the insurance co can deny the claim.I actually had an adjuster soliciting roof work. When I called my insurance co they were fine with that, no conflict! The insurance co won’t lose, they raise your rates , the roofers are happpy, and the shingle manufacturers are happy that nobody is asking why a 30 year shingle needs replacing in 10 or 15 years

[bsloan1960]

No issues here. More clickbait

Clickbait? It's a news broadcast.

[Priebehouse]

Maybe the "Developer" can come up with a solution. They have a bank, why not start and insurance company?

"The Villages Insurance - 751-6622"

[Sabella]

No body scammed anybody. If one doesn’t need a new roof, the insurance adjuster and the insurance co can deny the claim.I actually had an adjuster soliciting roof work. When I called my insurance co they were fine with that, no conflict! The insurance co won’t lose, they raise your rates , the roofers are happpy, and the shingle manufacturers are happy that nobody is asking why a 30 year shingle needs replacing in 10 or 15 years

I have a bridge to sell you.

[mazbarth]

The Villages Ins only has other ins companies, not their own. It is only a broker.

[Life as I know it]

No such thing as a free roof all your neighbors scammed the insurance companies for
Our insurance bill just went up $500! We are paying for all those people who took advantage of a loophole that needs to be fixed.
Those salesman that knocked on your door saying that you need to have your roof replaced and told you that all you had to do was to assign your insurance policy over to them. They have ‘their” own inspectors and lawyers to to fight the insurance company in court knowing that the roof is old and needs replacement.
Now you people got a new roof while the rest of us are stuck paying more for our insurance for you to have your “free” roof.
There is no such thing as a free lunch but in this case your neighbors are…..but don’t think they don’t talk about the people that take advantage. We have several of them in our neighborhood bragging about it and most of these people are against Socialism. Go figure that one out.

[villageuser]

No body scammed anybody. If one doesn’t need a new roof, the insurance adjuster and the insurance co can deny the claim.I actually had an adjuster soliciting roof work. When I called my insurance co they were fine with that, no conflict! The insurance co won’t lose, they raise your rates , the roofers are happpy, and the shingle manufacturers are happy that nobody is asking why a 30 year shingle needs replacing in 10 or 15 years

I would have notified the Florida Department of Business and Professional Regulation and verified they don’t consider it a conflict either.

[Bobbyn]

I switched to Kin Ins. Did it all on the internet and spoke to a Representative on the phone. Kin saved me $800 over Progressive
They were great.

[rjn5656]

Villages Insurance is not owned by the Developer. They sold it to a larger broker a few years back.

[rrtjp]

Link to story: Florida’s homeowner’s insurance crisis hits The Villages – WFTV (https://www.wftv.com/news/local/floridas-homeowners-insurance-crisis-hits-villages/DZW5PL6XJ5HUPB6YIRXWLJTREM/)

I just spotted this. Is anyone being affected by this / have ideas get affordable insurance?
Hasn’t affected us. We are with Allstate, bundled home, cars and golf cart.

[RICH1]

No issues here. More clickbait
Mine jumped 800.00….2400.00 for a Ranch bungalow I’m blaming all the people that smoked the insurance companies for New Roofs

[Glorantha]

No body scammed anybody. If one doesn’t need a new roof, the insurance adjuster and the insurance co can deny the claim.I actually had an adjuster soliciting roof work. When I called my insurance co they were fine with that, no conflict! The insurance co won’t lose, they raise your rates , the roofers are happpy, and the shingle manufacturers are happy that nobody is asking why a 30 year shingle needs replacing in 10 or 15 years

People with mortgages generally have replacement value through their home insurance.

I recently moved from Virginia. About 4 years ago I spoke with a neighbor who was having his roof replaced. He told me the insurance was covering it because of the hail storm we had 3 months prior. He pointed to a half dozen other roofs in the immediate neighborhood scheduled to get a new roof due to the storm. My house, which was one of the newer ones, was over 20yo and could use a refresh before I put it up for sale in few years. A few spots of hail damage was found, so the insurance replaced my roof. Soon, all the neighbors were having their roofs inspected.

I know this was the coverage I had paid for, but it did seem to good to be true for 2+ doz homes, all 20+ years old getting new roofs.

On a funny note, my friend across the street’s insurance company couldn’t find any damage on his house even though every house, two deep, around him had a roof replaced. :cus:

[Laker14]

Mine jumped 800.00….2400.00 for a Ranch bungalow I’m blaming all the people that smoked the insurance companies for New Roofs

I'm sure the roof fiasco is partly to blame. It's a tough call when someone offers you a way to have someone else pay for a 17K roof replacement, when you know if you don't take the bait, you'll pay the 17K for your own roof, AND get nailed with a big insurance increase to pay for all of the "free" roofs other people got.

However, there are other factors. The cost of building supplies has "gone through the roof" over the last few years. That has to have an effect on the premium as well.

[Rzepecki]

You all need to remember this roof thing didn’t start with roofers and it didn’t start with homeowners - - - it start with insurance companies raising your rates because your roof was 10 years old. I’ve never heard of such a thing. My 25-30 year roof was decreed only good for 10 years by the insurance company. The insurance companies started this scam to make more money off of homeowners and they got caught. Did they think we wouldn’t have our roofs checked?!

[Travelhunter123]

Hasn’t affected us. We are with Allstate, bundled home, cars and golf cart.

Me too! Allstate has excellent hurricane and sinkhole insurance😊

[Joe C.]

If you have a car accident and make a claim, your premium the following year goes up. Everybody else's insurance doesn't go up because of your accident.
Should be the same for homeowner insurance. You put in a claim for home damage, your premium goes up. Mine shouldn't.

Easy peasy.

[RickyLee]

I switched to Kin Ins. Did it all on the internet and spoke to a Representative on the phone. Kin saved me $800 over Progressive
They were great.


We also switched to KIN & saved over 500 a year. I have not had a claim, ( with kin or any other for that fact), but I'm hoping that if I need them they'll be there for me! It all looks good on the internet, looks good in all the research I've done, but I guess we'll know come claim time if we ever need them?? So far, I'm as happy as I can be with KIN

[Lyn Wagner]

Check out southern oaks. I got a great rate with sink hole.

[PoolBrews]

I looked at Kin, but they don't offer sinkhole insurance.

I went with All State - sinkhole insurance is included in all of their policies.

[EdFNJ]

Also home values have increased massively so obviously if the cost to replace your home goes up so does the cost of your insurance. That plus the roof scam. BOOM

That being said our policy (Travelers Ins) went up somewhere about $60 when it was renewed in July and $40 the renewal before that. No gripes here yet. Who knows what next year will bring.

[Laker14]

If you have a car accident and make a claim, your premium the following year goes up. Everybody else's insurance doesn't go up because of your accident.
Should be the same for homeowner insurance. You put in a claim for home damage, your premium goes up. Mine shouldn't.

Easy peasy.

Not really. It depends upon the type of claim. Fire? yes. But many homeowner's claims are caused by conditions that affect large areas at once, such as storm damage, and roof damage from sun and heat.
The fact that your neighbor had a fire may not reflect at all upon the likelihood of you having a fire. The fact that there are hundreds of claims per year in your geographical area from lightning strikes and high winds due to thunderstorms probably does reflect upon your risk.

[PJackpot]

I switched to Kin Ins. Did it all on the internet and spoke to a Representative on the phone. Kin saved me $800 over Progressive
They were great.

Did the same thing with Nsure. I think some people tend to over insure as well, which can also account for higher prices.

[EdFNJ]

No body scammed anybody. If one doesn’t need a new roof, the insurance adjuster and the insurance co can deny the claim.I actually had an adjuster soliciting roof work. When I called my insurance co they were fine with that, no conflict! The insurance co won’t lose, they raise your rates , the roofers are happpy, and the shingle manufacturers are happy that nobody is asking why a 30 year shingle needs replacing in 10 or 15 years LOL, Everyone is happy except the homeowner who pays the higher rate for all their happiness.

[Regor]

We also switched to KIN & saved over 500 a year. I have not had a claim, ( with kin or any other for that fact), but I'm hoping that if I need them they'll be there for me! It all looks good on the internet, looks good in all the research I've done, but I guess we'll know come claim time if we ever need them?? So far, I'm as happy as I can be with KIN
I switched to Kin over a year ago, good rate. This year I got my bill and it was up 150%. I called and was givin the ole run around (all the new roofs, the state is mandating the increase, etc. etc.). I now have Farmers. Same coverage $200 less that Kin was last year.

[EdFNJ]

We also switched to KIN & saved over 500 a year. I have not had a claim, ( with kin or any other for that fact), but I'm hoping that if I need them they'll be there for me! It all looks good on the internet, looks good in all the research I've done, but I guess we'll know come claim time if we ever need them?? So far, I'm as happy as I can be with KIN Be careful with KIN. "REPLACEMENT VALUE" is an option with them which they don't make obvious up front because it makes people think they are saving more that they do if something ever happens. One's 20 year old roof might get replaced with 20 years of depreciation of the replacement cost.

[Sunflower33]

QUOTE=bsloan1960;2129662]Link to story: Florida’s homeowner’s insurance crisis hits The Villages – WFTV (https://www.wftv.com/news/local/floridas-homeowners-insurance-crisis-hits-villages/DZW5PL6XJ5HUPB6YIRXWLJTREM/)

I just spotted this. Is anyone being affected by this / have ideas get affordable insurance?[/QUOTE]

I was effected by home and car. I had progressive and my car insurance went up 400.00 last six months now another 700 this six months. We had no tickets or accidents and drive our cars less than 5000 miles per year. Golf cart went up 200 for the year and home owners 800. So I contacted Felicia Russell with Allstate in wildwood. She packaged all my insurance and for the exact coverage my whole bill was approx 2000.00 less. So I had her write all new policies. She is professional and really cares about you. I spend two hours in her office and got what I wanted for less. If you haven’t already call her she knows her business

[RICH1]

Ginormous Insurance Rates and Property Tax Increases add up
to For Sale signs … This place ain’t that Great

[JMintzer]

If you have a car accident and make a claim, your premium the following year goes up. Everybody else's insurance doesn't go up because of your accident.
Should be the same for homeowner insurance. You put in a claim for home damage, your premium goes up. Mine shouldn't.

Easy peasy.

If you live in an area where cars are commonly stolen, EVERYBODY pays more for insurance, even if you've not had your car stolen...

[tophcfa]

"The Villages Insurance - 751-6622"

Dumped them a few years ago when our premiums almost doubled and they couldn’t find us any better deal. Did much better with an independent insurance agency outside the bubble.

[Matzy]

We are very good with AARP (The Hartford), bundled car and house.

[tophcfa]

I switched to Kin over a year ago, good rate. This year I got my bill and it was up 150%. I called and was givin the ole run around (all the new roofs, the state is mandating the increase, etc. etc.). I now have Farmers. Same coverage $200 less that Kin was last year.

Get ready for another bait and switch with Farmers, they did it to us. They want our 2008 installed archetuctual shingle roof, which is in very good condition, replaced. We have the money budgeted for a replacement, but not until it’s much closer to being necessary. When we do replace the roof we don’t want to have to worry about having to replace it again for the rest of our lives.

[tophcfa]

Hasn’t affected us. We are with Allstate, bundled home, cars and golf cart.

Give it a few years, from your join date of 2021 on TOTV I am guessing your roof isn’t more than a couple years old?

[Laker14]

Ginormous Insurance Rates and Property Tax Increases add up
to For Sale signs … This place ain’t that Great

They're leaving in droves.
(But arriving in bigger droves.)

[jebartle]

I looked at Kin, but they don't offer sinkhole insurance.

I went with All State - sinkhole insurance is included in all of their policies.

Which sinkhole insurance???, Kin and all fla. Insurance covers general sinkhole coverage.

[USSGompers]

Progressive is one of the companies featured in the article. The Villages homeowner's whose insurance premium increased by 69% use Progressive.

Progressive just canceled me as of 12/24/22......received the letter yesterday

[Keefelane66]

Dumped them a few years ago when our premiums almost doubled and they couldn’t find us any better deal. Did much better with an independent insurance agency outside the bubble.
Same with us. I do not recommend Villages Insurance to anyone. We were trying to bundle with them. They gave us a quote which was Florida Travelers $500 more annually than the policy we already had with Travelers Florida, with the same identical coverage.
When questioned their answer was “that’s the way it is”.
We do as little business as possible anything tied to the developer.

[OrangeBlossomBaby]

No body scammed anybody. If one doesn’t need a new roof, the insurance adjuster and the insurance co can deny the claim.I actually had an adjuster soliciting roof work. When I called my insurance co they were fine with that, no conflict! The insurance co won’t lose, they raise your rates , the roofers are happpy, and the shingle manufacturers are happy that nobody is asking why a 30 year shingle needs replacing in 10 or 15 years

You're out of touch with recent modern history of the roofing business and insurance in the Villages then.

Unscrupulous roofing companies spent an entire season climbing up healthy rooftops of homes, breaking off a piece of a single shingle, and telling the homeowner that this was "proof" that they needed an entire new roof that would be covered by insurance. They would take pictures of the "damage" from various angles, and submit it as evidence to the insurance company, so the homeowner didn't have to do a thing.

Meanwhile, the roofing companies were padding the damages, inflating the costs, knowing exactly what each insurance company would pay for a roof replacement.

The roofs - for the most part - didn't need replacing at all. Some of them really did have damaged shingles but those individual shinges could have been repaired, replaced, or even remained damaged if the damage was minor enough.

The companies scammed the insurance companies, made bank, homeowners got brand new roofs that they didn't need, and everyone else's rates went up as a result.

[OrangeBlossomBaby]

Meanwhile - as I live in a manufactured home, there are only a couple of insurance companies that will cover my home at all. We have a metal roof so we don't really have to deal with increases resulting from aging roofs, but our premiums are higher than houses because manufactured homes are considered less stable and a higher risk for damage/catastrophic destruction during hurricanes and other incidents.

[PurePeach]

We use progressive, bundled, home, auto, golf cart.

Progressive raised our neighbor’s renewal rate by almost double the precious year. She was told by them when she called it was because they’re getting out of the FL market by raising rates as their policies renew.

[Aces4]

Meanwhile - as I live in a manufactured home, there are only a couple of insurance companies that will cover my home at all. We have a metal roof so we don't really have to deal with increases resulting from aging roofs, but our premiums are higher than houses because manufactured homes are considered less stable and a higher risk for damage/catastrophic destruction during hurricanes and other incidents.

But they are also less expensive to replace/repair. I’d live in a manufactured home or doublewide in a heartbeat… if it came with a quality storm shelter.

[OrangeBlossomBaby]

But they are also less expensive to replace/repair. I’d live in a manufactured home or doublewide in a heartbeat… if it came with a quality storm shelter.

It's actually more expensive. Manufactured home insurance does not include the property that the home is on, at all. It covers the structure. My structure was put together on this property in 1985, it was a new model at the time. This model (which would need to be registered with the DMV if I was renting the property it's on) is now almost 40 years old.

So if the entire structure was irreparable and needed to be replaced, I'd get a whopping $28,000 for the replacement cost. That would basically cover the cost to have a new structure delivered, and I'd still have to pay around $140,000 to purchase the new structure.

[Aces4]

It's actually more expensive. Manufactured home insurance does not include the property that the home is on, at all. It covers the structure. My structure was put together on this property in 1985, it was a new model at the time. This model (which would need to be registered with the DMV if I was renting the property it's on) is now almost 40 years old.

So if the entire structure was irreparable and needed to be replaced, I'd get a whopping $28,000 for the replacement cost. That would basically cover the cost to have a new structure delivered, and I'd still have to pay around $140,000 to purchase the new structure.

Sounds like a replacement policy would be in your wheel house.

[jimjamuser]

Link to story: Florida’s homeowner’s insurance crisis hits The Villages – WFTV (https://www.wftv.com/news/local/floridas-homeowners-insurance-crisis-hits-villages/DZW5PL6XJ5HUPB6YIRXWLJTREM/)

I just spotted this. Is anyone being affected by this / have ideas get affordable insurance?
Oh, Oh! I feel some squeezing of body parts going on! Maybe potential Florida residents will turn around and go back? We need fewer drivers on SR 441.

[DAVES]

Maybe the "Developer" can come up with a solution. They have a bank, why not start and insurance company?

An insurance company, you pay a company a fee to accept your risk. Homeowners insurance, if you do not have a mortgage you can choose to self insure-if there is a loss you pay the damage.

In terms of a Villages only insurance company, if it exists, I would hesitate to use them. A major localized situation and the company would not have customers outside a local loss area.

[DAVES]

Progressive raised our neighbor’s renewal rate by almost double the precious year. She was told by them when she called it was because they’re getting out of the FL market by raising rates as their policies renew.

I would see an insurance agent and get a competitive bid actually that is a good idea with all insurance, We tend to think I've been a loyal customer for xxx years so they will give me the best rates. Reality is they give the best rates to new customers to attract them.

The law may be that they cannot refuse to sell you a renewal. It sounds like the company is saying, you would be wise to research and change to another company.

All insurance companies are great at cashing your premium. Paying out on a claim is often another story. You can research quality of service.

[OrangeBlossomBaby]

Sounds like a replacement policy would be in your wheel house.

The policy includes replacement. But since it's a nearly 40-year-old manufactured home that has no solid foundation beneath it, the replacement value is only around $28,000. I'm already paying more for my policy than most site-built homeowners pay for the same sized structure.

This is just how it works for manufactured homes. Many people don't bother to insure them at all, because they pay so much in exchange for so little. We may be considering the same in a few years.

[joshgun]

My Ho from ASI/progressive went up $200/20%, but my insured value went up a like amount. 16 insurance companies in the past year have filed for bankruptcy, pulled out of the Florida Ho market or are not writing any new business. Too low premium previously and not enough reserves to cover claims. Insurance is a cyclicsl business, like the economy as a whole. It has to get worse, before it gets better. My house is only 4 years old, do that is why my premium did not this year change dramatically.

[DaleDivine]

We use progressive, bundled, home, auto, golf cart.

Yep, that's the same coverage we have. :agree:

[tophcfa]

The policy includes replacement. But since it's a nearly 40-year-old manufactured home that has no solid foundation beneath it, the replacement value is only around $28,000. I'm already paying more for my policy than most site-built homeowners pay for the same sized structure.

This is just how it works for manufactured homes. Many people don't bother to insure them at all, because they pay so much in exchange for so little. We may be considering the same in a few years.

We made an offer on a manufactured home on Turnberry Lane in the Historic District over seven years ago. I looked extensively into homeowners insurance on the manufactured home back then and determined we would be better off just getting a cheap renters insurance policy that covered the contents of the home, but not the home itself. The premiums quoted us to cover the home were so ridiculously high for such a low replacement value we determined it would be a better risk to self insure. The value of the land, which abutted Paradise Lake, was probably worth 3/4 of the price we offered. In the end we couldn’t reach an agreement with the seller and it worked out for the best. We eventually found a site built home between SS and LSL which abuts a beautiful wildlife preserve and we got it for less than what we offered on the manufactured home.

[GatorFan]

Which sinkhole insurance???, Kin and all fla. Insurance covers general sinkhole coverage.

Policies in Florida include catastrophic ground collapse, not sinkhole. Huge difference. Sinkhole is an endorsement with an additional premium. Most companies have a 10% of your dwelling coverage deductible. Allstate has same deductible as you have for Fire, theft, lightning, windstorm (other than hurricane) etc. $500, $1,000 deductibles. No %

[mrf0151]

The value of our homes has gone up in most cases around 50%over the years living here. Naturally the insurance company has more risk, and this drives the rates up. Just like a more expensive auto will have higher rates. Insurance 101. You are welcome.

[nn0wheremann]

Link to story: Florida’s homeowner’s insurance crisis hits The Villages – WFTV (https://www.wftv.com/news/local/floridas-homeowners-insurance-crisis-hits-villages/DZW5PL6XJ5HUPB6YIRXWLJTREM/)

I just spotted this. Is anyone being affected by this / have ideas get affordable insurance?
Our 19 year old house in Marion County Villages was renewed for another year, less than $200 increase in premium. Farmers Insurance.

[jimkerr]

No body scammed anybody. If one doesn’t need a new roof, the insurance adjuster and the insurance co can deny the claim.I actually had an adjuster soliciting roof work. When I called my insurance co they were fine with that, no conflict! The insurance co won’t lose, they raise your rates , the roofers are happpy, and the shingle manufacturers are happy that nobody is asking why a 30 year shingle needs replacing in 10 or 15 years

Wrong. The roofers scammed the insurance companies and all of the people who got “free” roofs were scammers as well.

[Travelhunter123]

Which sinkhole insurance???, Kin and all fla. Insurance covers general sinkhole coverage.

Yes they do but generally with large deductibles
Allstates deductible, for sinkholes, is the same as any other claim you make on the house. In my case its $1000

[golfing eagles]

Progressive raised our neighbor’s renewal rate by almost double the precious year. She was told by them when she called it was because they’re getting out of the FL market by raising rates as their policies renew.

That's odd, considering my premium from Progressive didn't go up at all last year to this year. Must be more to it.

[Travelhunter123]

Policies in Florida include catastrophic ground collapse, not sinkhole. Huge difference. Sinkhole is an endorsement with an additional premium. Most companies have a 10% of your dwelling coverage deductible. Allstate has same deductible as you have for Fire, theft, lightning, windstorm (other than hurricane) etc. $500, $1,000 deductibles. No %

Thanks for clarifying that

[tophcfa]

The value of our homes has gone up in most cases around 50%over the years living here. Naturally the insurance company has more risk, and this drives the rates up. Just like a more expensive auto will have higher rates. Insurance 101. You are welcome.

That logic only holds true if the premiums went up in relation to increased replacement costs being added to the policy. Our premiums got jacked way up with no change to the policies replacement value.

[retiredguy123]

That logic only holds true if the premiums went up in relation to increased replacement costs being added to the policy. Our premiums got jacked way up with no change to the policies replacement value.
There is no common sense logic for how insurance companies set their rates. I think they use complex computer algorithms to analyze customers and maximize profit. Last year, I switched from Allstate to State Farm auto insurance and saved more than 50 percent. The State Farm agent said that the reason they gave me such a low rate was because I had been an Allstate customer for 27 years. I guess Allstate thought that I would just accept a 32 percent rate increase because I was a long time customer. Go figure.

[Fltpkr]

We use progressive, bundled, home, auto, golf cart.

Flo would love you :clap2::clap2:

[OhioBuckeye]

Thanks for sharing but no comment because I’m not allowed!

[Normal]

No problems here. Our premium is the same. You must have been one of those roof people? You pay either way, but you pay with interest when claiming.

[kkingston57]

No issues here. More clickbait

Feel lucky. We are in same boat but not optimistic.

[kkingston57]

Maybe the "Developer" can come up with a solution. They have a bank, why not start and insurance company?

Typical returns on insurance is around 5%. Not a good investment. At least this business would be inland.

[kkingston57]

No body scammed anybody. If one doesn’t need a new roof, the insurance adjuster and the insurance co can deny the claim.I actually had an adjuster soliciting roof work. When I called my insurance co they were fine with that, no conflict! The insurance co won’t lose, they raise your rates , the roofers are happpy, and the shingle manufacturers are happy that nobody is asking why a 30 year shingle needs replacing in 10 or 15 years

I was in the adjusting business. Sounds like you were solicited by a public adjuster who was working with a roofer. I can bet you that the actual cost of the roof was probably 10+ % more than a regular roof. That adjuster has to be paid by someone.

A company adjuster only goes out if you report a claim to your insurance company. You stated that Insurance companies are not loosing. If correct why they are they going out of business? . These claims and other claims are causing a lot of companies to go out of business or not write business in certain areas like the coastal areas of Florida. Everyone is paying for thes fraudulet roof claims.

[kkingston57]

If you have a car accident and make a claim, your premium the following year goes up. Everybody else's insurance doesn't go up because of your accident.
Should be the same for homeowner insurance. You put in a claim for home damage, your premium goes up. Mine shouldn't.

Easy peasy.

Biggest claims on cars involved Bodily Injury claims and people call NAME YOUR ATTORNEY. Most of the time claims are paid due to fact that a driver was negligent and caused the injuries. Homeowners claims are very different. Most of the major claims are caused by weather, fire, things breaking down like pipes and not human error.

[GatorFan]

48% rate increase approved for Kin couple months ago and they have filed for another 28%.

[EdFNJ]

Did the same thing with Nsure. I think some people tend to over insure as well, which can also account for higher prices. "Nsure" is not an insurance company. All they do is forward your info to a number of companies that signed up with them and you get loads of phone calls for months. They are in no way an insurance company any more than Angie's List is a contractor.

Tried similar (Zebra and a couple others) for both homeowners and auto a couple years ago and all they do is lowball you with very basic minimal coverage high deductible policies so they look cheap OR with good coverage they are way higher than most you can find on your own. They have to give "Nsure" (or Zebra or whoever) their cut.

[mikeycereal]

Before I completed my move, I was signed up with Progressive for Home insurance because it was the cheapest and I paid for the year. The same salesperson who hooked me up said they were too expensive for auto so he found Travelers at $777 for the year. He chuckled about that number because I had moved here from Vegas.

[OhioBuckeye]

I’m pretty sure Ins. Co. Base they’re increase’s on how many claims that are turned in then they raise your rates to help pay for all
of those people that turn in claims. That’s how Ins. Co. stay in business. Ask any person that’s been in the Ins. business! If you don’t believe it that’s OK, I’m not hear to argue.

[BobnPeg]

We moved toTV last October,our policy was $1576.00 we just received the bill for next year, $2020.00 up $444.00 (28%).The house was built 2006 still has original roof.
From what I've been reading rate hikes are happening to many homeowners.My question is does this sound like the norm or high? I would like some thoughts if I should just renew and see what happens next year or start looking for a new company.
Would appreciate any input from anyone who has been this. Thanks

[Flyers999]

We moved toTV last October,our policy was $1576.00 we just received the bill for next year, $2020.00 up $444.00 (28%).The house was built 2006 still has original roof.
From what I've been reading rate hikes are happening to many homeowners. My question is does this sound like the norm or high? I would like some thoughts if I should just renew and see what happens next year or start looking for a new company.
Would appreciate any input from anyone who has been this. Thanks

By all means look for a new company. But if you have an old roof(which you do) or an old house or submitted a claim in the last XXX years, you probably won't find one.

I have US Coastal Property and Casualty. in the last three years it has gone from $1095 to $1692 to $2242 (this year). I do have the sinkhole insurance.

[mrf0151]

We moved toTV last October,our policy was $1576.00 we just received the bill for next year, $2020.00 up $444.00 (28%).The house was built 2006 still has original roof.
From what I've been reading rate hikes are happening to many homeowners.My question is does this sound like the norm or high? I would like some thoughts if I should just renew and see what happens next year or start looking for a new company.
Would appreciate any input from anyone who has been this. Thanks
Our Travelers HO ins. just went up 50% for the coming annual premium cycle. Called around and still cheaper than most for max coverage. Also just found out that Travelers is not writing any NEW policies at this time in Florida.

[mrf0151]

There is no common sense logic for how insurance companies set their rates. I think they use complex computer algorithms to analyze customers and maximize profit. Last year, I switched from Allstate to State Farm auto insurance and saved more than 50 percent. The State Farm agent said that the reason they gave me such a low rate was because I had been an Allstate customer for 27 years. I guess Allstate thought that I would just accept a 32 percent rate increase because I was a long time customer. Go figure.
Interesting and I called last week to State Farm and their HO policy, apples to apples was 15% higher than our current Travelers.

[Kennybmd]

I switched to KIN one year ago. Saved me $3000 at the time, but now it jumped from $1000 to $4000 in one year. Looking for reccomendation. State farm who I used for 40 years without a claim will no longer insure my 1999 home in Santo Domingo.

[Rainger99]

Interesting and I called last week to State Farm and their HO policy, apples to apples was 15% higher than our current Travelers.

According to the internet, Travelers does not insure homes in Florida.

Travelers Home Insurance Review (2022) (https://www.thisoldhouse.com/home-finances/reviews/travelers-homeowners-insurance)

Why Is Homeowners Insurance In Florida Such A Disaster? – Forbes Advisor (https://www.forbes.com/advisor/homeowners-insurance/why-is-homeowners-insurance-in-florida-such-a-disaster/)

[GatorFan]

Which sinkhole insurance???, Kin and all fla. Insurance covers general sinkhole coverage.

Which is included in property policies and sinkhole coverage which you have to purchase