Yikes, just watched a segment on NBC nightly news about Florida homeowners insurance

[tophcfa]

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (

[CoachKandSportsguy]

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (

most depressing outlook for FL residents who have all moved down here from up north. . .

[OrangeBlossomBaby]

We have a manufactured home with a metal roof. We'll -probably- just not have homeowners' insurance next year, if the next year's rate goes up.

[tophcfa]

We have a manufactured home with a metal roof. We'll -probably- just not have homeowners' insurance next year, if the next year's rate goes up.

You can get a renters policy which will insure the contents of the home, but not the home itself. With a manufactured home, the value of your land is typically worth more than the home itself. We almost bought a manufactured home on Turnberry Lane in the historic section and that was our plan. Good luck.

[badkarma318]

If an insurance company came into Florida, offered fair rates (good for us), and avoided the coasts (good for them), they wouldn't know what to do with all of the customers.

[tophcfa]

If an insurance company came into Florida, offered fair rates (good for us), and avoided the coasts (good for them), they wouldn't know what to do with all of the customers.

Avoiding the coasts would reduce their hurricane risk exposure, but wouldn’t reduce their out of control litigation (roof scam) exposure. And insurers don’t want more customers than they know what to do with in any given geographical area, that does not add uncorrelated risk which diversifies their overall book of business.

[Rainger99]

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (

I think this is the segment.

https://www.youtube.com/watch?v=tJYuQd58dU8

[TSO/ISPF]

Are Florida's laws so different from other states that litigation is more lucrative for the legal firms doing all the commercials claiming to get massive settlements for all the victims?

[mrf0151]

And Florida is not the most expensive state for homeowners' insurance. See this report.
https://www.bing.com/ck/a?!&&p=6b61cb5d594fdbd0JmltdHM9MTY4NjcwMDgwMCZpZ3VpZD0x NDU3Y2FkMi02MTM5LTY5N2UtMjEwZi1kOWZiNjBhOTY4OWQmaW 5zaWQ9NTIxMQ&ptn=3&hsh=3&fclid=1457cad2-6139-697e-210f-d9fb60a9689d&psq=state+by+state+homeowners+insurance+cost+by+ra nk&u=a1aHR0cHM6Ly93d3cuYmFua3JhdGUuY29tL2luc3VyYW5jZS 9ob21lb3duZXJzLWluc3VyYW5jZS9zdGF0ZXMv&ntb=1

[kkingston57]

Are Florida's laws so different from other states that litigation is more lucrative for the legal firms doing all the commercials claiming to get massive settlements for all the victims?

To answer your question, yes. In a case where in an insured makes a claim and the insurance company denies the claim, the insured can file suit. If insured wins: 1. Insurance company pays the claim. 2. Insurance company pays the attorney fees for the insureds attorney. 3. Insurance company pays an attorney and attorney costs to defend the suit. In most cases, the insured gets more claim money than insurance company would have or did offer. New laws have been enacted and these new laws will stop some of this. Full Disclosure, I adjusted claims in Florida for 40+ years and have no experience with in other states.

[kkingston57]

And Florida is not the most expensive state for homeowners' insurance. See this report.
https://www.bing.com/ck/a?!&&p=6b61cb5d594fdbd0JmltdHM9MTY4NjcwMDgwMCZpZ3VpZD0x NDU3Y2FkMi02MTM5LTY5N2UtMjEwZi1kOWZiNjBhOTY4OWQmaW 5zaWQ9NTIxMQ&ptn=3&hsh=3&fclid=1457cad2-6139-697e-210f-d9fb60a9689d&psq=state+by+state+homeowners+insurance+cost+by+ra nk&u=a1aHR0cHM6Ly93d3cuYmFua3JhdGUuY29tL2luc3VyYW5jZS 9ob21lb3duZXJzLWluc3VyYW5jZS9zdGF0ZXMv&ntb=1

Good article. Bet Florida will catch up to the high tornado, damaging hail states.

[JGibson]

The funny thing is other than the whole roof thing, how many people really had to use their insurance? The chances of a fire, flood, or hurricane damage in TV are so rare. It's not like car insurance which you’re more likely to use in a lifetime.
Insurance companies are passing on hurricane claims to folks who will probably never have a hurricane claim.

I know in NY the insurance companies have to show evidence to regulators for the justification for price increases.

[vlm790]

People need to quit ripping off the insurance companies too. False claims drive the cost up too. Quit trying to get something that you don’t earn or deserve!

[Whitley]

To answer your question, yes. In a case where in an insured makes a claim and the insurance company denies the claim, the insured can file suit. If insured wins: 1. Insurance company pays the claim. 2. Insurance company pays the attorney fees for the insureds attorney. 3. Insurance company pays an attorney and attorney costs to defend the suit. In most cases, the insured gets more claim money than insurance company would have or did offer. New laws have been enacted and these new laws will stop some of this. Full Disclosure, I adjusted claims in Florida for 40+ years and have no experience with in other states.

If you would help me clarify a couple of points.
1)Those who insure homes or companies in Florida, then go and get their own insurance against the properties they insure. Is this correct? If so wouldn't it make sense to cut out the middle provider?

2) My insurance company USI has told me that of the cases brought to court, the insurance carrier loses over 50% of them. I told him that to me it would seem they are denying a large number of valid claims. I wonder how much of the annual expense goes to attorneys?

3) When our agent gets quotes, he sends out a request to every provider that sells in the state. There is a policy among providers that they will only quote a property once, ie to one agent. Once ABC agent gets quotes, I can go to a second agent and he will not be able to get quotes from any company that the initial agent went to. As the agent gets a percent of the premium, I doubt they are broken up over higher rates. If we want to go to a second agent and see if he can negotiate better rates (perhaps he does more research into our property), we would not be able to do so if our first primary agent has already gone to that provider.


Am I understanding how this works?

[Blueblaze]

The solution to the roofing scams would be unbelievably simple to solve -- just treat a roof like the depreciating asset that it is. Why is that so hard to understand? You don't expect State Farm to buy you a set of tires for your Ford every five years; why do you expect them to buy you a roof every ten? Other states don't have a problem with this idiotic issue, just states like Florida that are run by lawyers for their own amusement, full of crooked idiots who think a "free roof" is free.

30 years ago, I had half of my 3-year-old roof blown away by an Oklahoma tornado. Allstate replaced that HALF of my roof. But in Florida, you can get a new roof if some scam roofing company finds a loose shingle, because all of these dumb insurance companies insist on writing these idiotic "full replacement cost" policies, and then paying on a scam rather than fight a crooked lawyer. Want reasonable insurance rates? Quit demanding unreasonable insurance policies and free roofs!

And I will never understand why insurance companies don't group similar risks, instead of making sane people who don't buy houses exposed to 12' storm surges pay for those who do.

The Villages ought to have the lowest insurance rates in the nation. More than half the homes are built out of concrete with steel studs, for crying out loud! ALL of them are built to withstand winds that have never been seen in this part of Florida. They are surrounded by an unbelievably extensive flood control system of ponds and pumps, and every single house is less than 5 minutes from a fire station. The nearest potential storm surge is 60 miles away!

And, yet, my Florida insurance is TWICE what I paid in Texas, from the same damned company, even though that house was exactly the same distance from the Gulf of Mexico, and WASN'T built to any hurricane standard. I went through three level 5 hurricanes and two tropical storms in the house, and the only damage I ever suffered was a blown down privacy fence -- because even those hurricanes were barely level 1 by the time they crossed 60 miles of land. During Harvey, I had 36" of rain in 48 hours, and the flood water was literally lapping the foundation of my house. It was a week before the roads cleared enough to go to the store. And STILL my insurance was HALF what I pay to insure this (much smaller!) Florida fortress, the same 60 miles from the ocean, but surrounded by an extensive flood control system!

I used to believe the old adage "never attribute to malice that which can be explained by stupidity". But the Florida insurance market has me rethinking that one. You don't get to this level of stupidity without an entire state full of stupidly corrupt people, dreaming up new ways to steal from each other!

[OrangeBlossomBaby]

You can get a renters policy which will insure the contents of the home, but not the home itself. With a manufactured home, the value of your land is typically worth more than the home itself. We almost bought a manufactured home on Turnberry Lane in the historic section and that was our plan. Good luck.

I tried to run a google search for this, but the only things I can ever find is with regards to tenants who do /not/ own the property they're living in, and how landlords are not required to make a tenant have this insurance.

I can't find anything that allows a homeowner to have rental insurance, but NOT homeowner's insurance.

I've actually been considering this for over a year, so bringing it up here might be useful to me (and anyone else who's stuck with a dwelling that isn't worth as much as the contents within it).

[ElDiabloJoe]

Just like The Villages owns commercial property, sales agencies, escrow companies, a bank, a newspaper, etc., if they can find a way to make money off of it, OR if they can manage to draw more purchases, they may attempt to start an insurance company with limited coverage area (Villages homes only).

Maybe.

[Stu from NYC]

Just like The Villages owns commercial property, sales agencies, escrow companies, a bank, a newspaper, etc., if they can find a way to make money off of it, OR if they can manage to draw more purchases, they may attempt to start an insurance company with limited coverage area (Villages homes only).

Maybe.

They are already insurance agents, figure they think that is better way to make money than being insurance company.

[mikempp]

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (

Does anyone really believe anything that comes from the media anymore? If you do, I have a bridge to sell you. No surprise they are picking on Florida. If it we’re really so bad why is everyone moving here? And leaving the states that they praise?

[MidWestIA]

We have a long history with USAA I'm hoping if we stay with them no matter the cost we will be good in central FL - but good luck if you jump around

[JoelJohnson]

We had a manufactured home that the sub floors absorbed moisture and turned into mush (old fiberboard floors). I called my insurance company and they sent out an adjuster who, after a short visit, sent a report back to the insurance company that refused our claim. I had to rip out ALL the sub floors and replace them with 3/4 plywood. I had to hire someone to help me, but I couldn't leave the floors like they were. It was costly, but we ended up selling the house. At least I knew the floors were safe.

[fcgiii]

I have had USAA for almost 60 years. We have a 9 year old 2100 sf Designer home and our homeowners bill is $4000 per year.

[waterflower]

Turn off the H.A.A.R.P system.
Stop chem-trails
Defund weather modification

[Flyers999]

We have a long history with USAA I'm hoping if we stay with them no matter the cost we will be good in central FL - but good luck if you jump around

I wouldn't put too much stock into thinking that since you been with an insurance co. for a while, they will treat you better. There was one narrative going around here that the insurance companies are picking on their most loyal customers because they are least likely to leave them. I can imagine some algorithm they use that determines the rate hike which puts loyalty into the equation.
If Florida gets a hurricane, even though it may miss you, it will hit your insurance company. Hurricane Ian did $109 B damage to FL last year. The state gave them $1 B, which was a drop in the bucket. If that starts happening every year....
I think the solution is for the state to underwrite wind damage, which may mean a (gulp), income tax?

[nn0wheremann]

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (
I had problems with a Tampa based insurer I will not name. More than doubled my premium after Irma. I fired them. I insure with Farmers. Even with the yearly rate increases they still are lower than the other company’s rate from five years ago. 20 YO roof is no problem. They inspected it, and based the rate on the fact-based risk.

[nn0wheremann]

I have had USAA for almost 60 years. We have a 9 year old 2100 sf Designer home and our homeowners bill is $4000 per year.
I have a 20 YO designer, 2160 sq ft, hip roof which is original to the house. Renewal came last week, almost broke $1600. Farmers Insurance.

[PilotGuy]

One only has to drive down the interstate in Florida to know Florida has a problem concerning insurance. Every other billboard, television ad, etc. is an ambulance chasing lawyer. Between those and the hurricanes and the damage caused by them, Florida is in a bad place. As there seems to be no will of the politicians to do anything about it, one must assume they are in bed with someone who doesn't want it changed.

[MandoMan]

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (

One good solution would be a two-tier policy where there is one price if you want to retain your right to sue the insurance company and another if you agree to mediation instead. We have a lot of lawyers with their faces on billboards in this state, and they pay for those billboards by taking a third of all the settlements. They have political clout because they and their colleagues make generous contributions to legislators.

[TerryCamlin]

Lots of folks will be denied sink hole coverage too. Noticed a very large one on Tuesday while playing golf on Sweetgum. Hmm do not remember reading about this anywhere in the Sun (joke but not). My friend I was golfing with said that the Orlando local news reported three new ones in the Villages. I have no idea where the other two are. Insurance is something we just have to deal with. Ivan was a Billion dollar loss for the insurance companies. Living in paradise comes at a cost unfortunately.

[toeser]

The solution to the roofing scams would be unbelievably simple to solve -- just treat a roof like the depreciating asset that it is. Why is that so hard to understand? You don't expect State Farm to buy you a set of tires for your Ford every five years; why do you expect them to buy you a roof every ten? Other states don't have a problem with this idiotic issue, just states like Florida that are run by lawyers for their own amusement, full of crooked idiots who think a "free roof" is free.

30 years ago, I had half of my 3-year-old roof blown away by an Oklahoma tornado. Allstate replaced that HALF of my roof. But in Florida, you can get a new roof if some scam roofing company finds a loose shingle, because all of these dumb insurance companies insist on writing these idiotic "full replacement cost" policies, and then paying on a scam rather than fight a crooked lawyer. Want reasonable insurance rates? Quit demanding unreasonable insurance policies and free roofs!

And I will never understand why insurance companies don't group similar risks, instead of making sane people who don't buy houses exposed to 12' storm surges pay for those who do.

The Villages ought to have the lowest insurance rates in the nation. More than half the homes are built out of concrete with steel studs, for crying out loud! ALL of them are built to withstand winds that have never been seen in this part of Florida. They are surrounded by an unbelievably extensive flood control system of ponds and pumps, and every single house is less than 5 minutes from a fire station. The nearest potential storm surge is 60 miles away!

And, yet, my Florida insurance is TWICE what I paid in Texas, from the same damned company, even though that house was exactly the same distance from the Gulf of Mexico, and WASN'T built to any hurricane standard. I went through three level 5 hurricanes and two tropical storms in the house, and the only damage I ever suffered was a blown down privacy fence -- because even those hurricanes were barely level 1 by the time they crossed 60 miles of land. During Harvey, I had 36" of rain in 48 hours, and the flood water was literally lapping the foundation of my house. It was a week before the roads cleared enough to go to the store. And STILL my insurance was HALF what I pay to insure this (much smaller!) Florida fortress, the same 60 miles from the ocean, but surrounded by an extensive flood control system!

I used to believe the old adage "never attribute to malice that which can be explained by stupidity". But the Florida insurance market has me rethinking that one. You don't get to this level of stupidity without an entire state full of stupidly corrupt people, dreaming up new ways to steal from each other!


I have one of those concrete block homes, but a huge oak fell on it during a hurricane. No roof will withstand that.

[DavidK]

After reading the discussion on home insurance rates rising, I got to thinking, why have roof installations gotten so expensive? In my younger years, I built 10 homes in Ohio. I shingled all of them myself with the help of buddies. It was hot but was not too hard to do. The worst task was to get the bundles up onto the roof from the pallet on the ground. Well, the costs of materials, delivery, and labor all have risen over the years. Even the delivery truck and conveniently place the shingles onto the roof. The efforts in replacing a roof are hard work especially getting the old materials torn off and in the trash. Most people cannot do their own roof because of the steep pitches. When homes had 8' room ceilings, the pitch was easier to kneel or sit on but now with 10', 12', and 14' room ceilings in homes, the roof pitch has become much steeper. The steepness adds labor costs and puts a good bit of wear and tear on the knees and ankles.

[Battlebasset]

The solution to the roofing scams would be unbelievably simple to solve -- just treat a roof like the depreciating asset that it is. Why is that so hard to understand? You don't expect State Farm to buy you a set of tires for your Ford every five years; why do you expect them to buy you a roof every ten? Other states don't have a problem with this idiotic issue, just states like Florida that are run by lawyers for their own amusement, full of crooked idiots who think a "free roof" is free.

30 years ago, I had half of my 3-year-old roof blown away by an Oklahoma tornado. Allstate replaced that HALF of my roof. But in Florida, you can get a new roof if some scam roofing company finds a loose shingle, because all of these dumb insurance companies insist on writing these idiotic "full replacement cost" policies, and then paying on a scam rather than fight a crooked lawyer. Want reasonable insurance rates? Quit demanding unreasonable insurance policies and free roofs!

We have a winner. If it is determined that the life span of a roof is 20 years, and it is damaged and requires an entire new reroofing at 15 years you determine the cost to replace, divide by 20, subtract 15, and this is what you get. Over 20 years old? You get nothing except debris removal.

[kkingston57]

I had problems with a Tampa based insurer I will not name. More than doubled my premium after Irma. I fired them. I insure with Farmers. Even with the yearly rate increases they still are lower than the other company’s rate from five years ago. 20 YO roof is no problem. They inspected it, and based the rate on the fact-based risk.

Farmers just announced they will not write new policies in Florida. Less competition=higher prices.

[Pairadocs]

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (

All of those stats and percentages pretty much line up with all the other sources I've read in various articles in a number of publications. Do be CAUTIOUS about replacing your 14 year old roof, sister in law and hubby who live here too, did that, cost them $18K in total, new gutters, roof, etc. and.... their PREMIUMS were raised in less than 6 mos. Reason given was unbelievable ! ! Told, it was due to the value of the brand new roof, gutters, and downspouts, woman on phone said it was like a brand new car, that can not be insured at the same rate as an old car ! HOW ILLOGICAL, talk about apples and oranges ! On the bright side, we have family in other states who pay $8K in property taxes on a much SMALLER house than ours here that is under $3K in property taxes. They (or relatives) pay income taxes of course, but ALSO PAY STATE income taxes, and... believe it r not, they pay taxes on FOOD and medicine too, things that are absolutely essential to life, taxed ? So, yes, Florida really gets socked for home owner's insurance, but there are even worse places !

[ChrisTee]

I have had USAA for almost 60 years. We have a 9 year old 2100 sf Designer home and our homeowners bill is $4000 per year.

Have you filed a claim? That sounds exorbitant. We've had USAA for 2 years, 18 year old 1700 CBS home here with *full* sinkhole coverage (not just catastrophic like most folks). Renewed in May for $1710. When we purchased this home 2 years ago State Farm wasn't even writing new homeowner policies in FL - they had suspended any new homeowner policies because they were trying to reduce their risk/ exposure.

[ChrisTee]

I wouldn't put too much stock into thinking that since you been with an insurance co. for a while, they will treat you better. There was one narrative going around here that the insurance companies are picking on their most loyal customers because they are least likely to leave them. I can imagine some algorithm they use that determines the rate hike which puts loyalty into the equation.
If Florida gets a hurricane, even though it may miss you, it will hit your insurance company. Hurricane Ian did $109 B damage to FL last year. The state gave them $1 B, which was a drop in the bucket. If that starts happening every year....
I think the solution is for the state to underwrite wind damage, which may mean a (gulp), income tax?

Thank goodness there are other viable solutions - I for one don't want every resident paying to insure my homes. If I can't afford my homes then I'll sell them. I pay for my home, you pay for yours. Here's another option:

#1 our state office of insurance regulation - the Florida Office of Insurance Regulation needs do a much better job. #2 Politicians who don't understand the system and ramifications of creating policy need to STOP writing laws and regulations that create unintended consequences. Our politicians write shoddy laws with loopholes and stopgaps. = FL Homeowners pay insane insurance premiums because attorneys and claimants get outsize awards in FL. We have many poor laws & regulations governing FL insurance that were created by unqualified politicians + self-interested attorneys. All our regs should be designed with and in conjunction with FL office of Insurance Regulation and that office should be accountable to FL citizens.

[PugMom]

We have a manufactured home with a metal roof. We'll -probably- just not have homeowners' insurance next year, if the next year's rate goes up.

i don't blame you, & aren't metal roofs able to withstand storms better?

[tophcfa]

i don't blame you, & aren't metal roofs able to withstand storms better?

They are preferred by many up north for several reasons. Snow slides off them, no ice dams causing water to pool and go under shingles causing damage, they sound of rain hitting them is nice and considered relaxing (sounds like rain hitting skylights), they are very easy to install on homes with basic/simple roofs like A frames, and they are the last roof you home will ever need. However, they can be dangerous. Snow slide diverters need to be installed on the roof over doors and other areas where a snow slide could injure or kill somebody.

[Larchap49]

The solution to the roofing scams would be unbelievably simple to solve -- just treat a roof like the depreciating asset that it is. Why is that so hard to understand? You don't expect State Farm to buy you a set of tires for your Ford every five years; why do you expect them to buy you a roof every ten? Other states don't have a problem with this idiotic issue, just states like Florida that are run by lawyers for their own amusement, full of crooked idiots who think a "free roof" is free.

30 years ago, I had half of my 3-year-old roof blown away by an Oklahoma tornado. Allstate replaced that HALF of my roof. But in Florida, you can get a new roof if some scam roofing company finds a loose shingle, because all of these dumb insurance companies insist on writing these idiotic "full replacement cost" policies, and then paying on a scam rather than fight a crooked lawyer. Want reasonable insurance rates? Quit demanding unreasonable insurance policies and free roofs!

And I will never understand why insurance companies don't group similar risks, instead of making sane people who don't buy houses exposed to 12' storm surges pay for those who do.

The Villages ought to have the lowest insurance rates in the nation. More than half the homes are built out of concrete with steel studs, for crying out loud! ALL of them are built to withstand winds that have never been seen in this part of Florida. They are surrounded by an unbelievably extensive flood control system of ponds and pumps, and every single house is less than 5 minutes from a fire station. The nearest potential storm surge is 60 miles away!

And, yet, my Florida insurance is TWICE what I paid in Texas, from the same damned company, even though that house was exactly the same distance from the Gulf of Mexico, and WASN'T built to any hurricane standard. I went through three level 5 hurricanes and two tropical storms in the house, and the only damage I ever suffered was a blown down privacy fence -- because even those hurricanes were barely level 1 by the time they crossed 60 miles of land. During Harvey, I had 36" of rain in 48 hours, and the flood water was literally lapping the foundation of my house. It was a week before the roads cleared enough to go to the store. And STILL my insurance was HALF what I pay to insure this (much smaller!) Florida fortress, the same 60 miles from the ocean, but surrounded by an extensive flood control system!

I used to believe the old adage "never attribute to malice that which can be explained by stupidity". But the Florida insurance market has me rethinking that one. You don't get to this level of stupidity without an entire state full of stupidly corrupt people, dreaming up new ways to steal from each other!

Thank you for a very concise and sadly a very accurate description of how the insurance industry works in FL.

[JGibson]

Just got my renewal. $300 increase and I submitted a claim and got a free roof last year.

No complaints here.

[C. C. Rider]

The solution to the roofing scams would be unbelievably simple to solve -- just treat a roof like the depreciating asset that it is. Why is that so hard to understand? You don't expect State Farm to buy you a set of tires for your Ford every five years; why do you expect them to buy you a roof every ten? Other states don't have a problem with this idiotic issue, just states like Florida that are run by lawyers for their own amusement, full of crooked idiots who think a "free roof" is free.

30 years ago, I had half of my 3-year-old roof blown away by an Oklahoma tornado. Allstate replaced that HALF of my roof. But in Florida, you can get a new roof if some scam roofing company finds a loose shingle, because all of these dumb insurance companies insist on writing these idiotic "full replacement cost" policies, and then paying on a scam rather than fight a crooked lawyer. Want reasonable insurance rates? Quit demanding unreasonable insurance policies and free roofs!

And I will never understand why insurance companies don't group similar risks, instead of making sane people who don't buy houses exposed to 12' storm surges pay for those who do.

The Villages ought to have the lowest insurance rates in the nation. More than half the homes are built out of concrete with steel studs, for crying out loud! ALL of them are built to withstand winds that have never been seen in this part of Florida. They are surrounded by an unbelievably extensive flood control system of ponds and pumps, and every single house is less than 5 minutes from a fire station. The nearest potential storm surge is 60 miles away!

And, yet, my Florida insurance is TWICE what I paid in Texas, from the same damned company, even though that house was exactly the same distance from the Gulf of Mexico, and WASN'T built to any hurricane standard. I went through three level 5 hurricanes and two tropical storms in the house, and the only damage I ever suffered was a blown down privacy fence -- because even those hurricanes were barely level 1 by the time they crossed 60 miles of land. During Harvey, I had 36" of rain in 48 hours, and the flood water was literally lapping the foundation of my house. It was a week before the roads cleared enough to go to the store. And STILL my insurance was HALF what I pay to insure this (much smaller!) Florida fortress, the same 60 miles from the ocean, but surrounded by an extensive flood control system!

I used to believe the old adage "never attribute to malice that which can be explained by stupidity". But the Florida insurance market has me rethinking that one. You don't get to this level of stupidity without an entire state full of stupidly corrupt people, dreaming up new ways to steal from each other!

Great post!

[champion6]

<snip> Since 2020, the average home premium has increased 100% <snip> Since 2020 my premium increased 140%. Cottage home built in 2011.