Home Owners Insurance Rates

[jkpender]

I recently read that insurance companies in Florida are going to readjust rates on homes inland to be comparable to the rates that they charge to coastal properties. It's based on the assumption that the risk from hurricane damage is higher inland than they previously thought. As someone who is considering moving to central Florida (The Villages) in the future I was wondering what the approximate yearly rate for homeowners insurance is for a $200,000 home in TV.

[jojo]

I recently read that insurance companies in Florida are going to readjust rates on homes inland to be comparable to the rates that they charge to coastal properties. It's based on the assumption that the risk from hurricane damage is higher inland than they previously thought. As someone who is considering moving to central Florida (The Villages) in the future I was wondering what the approximate yearly rate for homeowners insurance is for a $200,000 home in TV.

I can't answer for a $200,000 home but we have a home down here that was similarly priced to our home in Columbus Ohio and our homeowners insurance which I just paid today was less than in Columbus.

[The Shadow]

Storms could topple Citizens insurance
The Atlantic hurricane season officially began on June 1, and once again the weather experts are forecasting a very active season, with more major storms than in a typical year. What the experts cannot precisely forecast is whether Florida will be in the path of any of these storms.

On the other hand, experts who have studied Florida's property insurance market are fully able to forecast precisely what could happen if one big storm or a series of lesser storms were to strike this vulnerable peninsula: It would cause a financial disaster. SNIP

http://www.news-journalonline.com/opinion/editorials/guest-columns/2011/06/05/storms-could-topple-citizens-insurance.html

[The Shadow]

State Farm's rates headed up -- way up for some
State Farm customers in South Florida and the Orlando area can expect hefty rate hikes starting in July, some as high as 64 percent. SNIP
http://www.orlandosentinel.com/business/fl-state-farm-rate-increase-20110408,0,7309055.story

[The Shadow]

State Farm wants to raise rates 28 percent, in large part because of sinkhole losses.

The state-owned Citizens Property Insurance takes in more than 200 sinkhole claims a month, paying out about four times as much as in claims as it takes in from premiums. We all know what happens when Citizens runs out of money and can't pay. We pay.

Florida is renowned for its insurance scams, and this one is a doozy.SNIP
http://www.orlandosentinel.com/news/os-mike-thomas-sinkholes-020111-20110131,0,5822172.column

[wendyquat]

Don't know what will happen next month but we just got a quote on a $200,000 villa today for $742 a year. Much lower than we were paying in NC! That's from The Villages Ins.

[starflyte1]

Our insurance is the same as mentioned above: $200,000 around $775. Our previous home was within one mile of the gulf in North Naples, Fl, and with the three insurances (home, wind and flood), our premiumn was $3600.00, for a $225,000 home. We did not insure the land, just the house. Sure hope that we do not have to pay coastal rate in TV!

[Russ_Boston]

I recently read that insurance companies in Florida are going to readjust rates on homes inland to be comparable to the rates that they charge to coastal properties. It's based on the assumption that the risk from hurricane damage is higher inland than they previously thought. As someone who is considering moving to central Florida (The Villages) in the future I was wondering what the approximate yearly rate for homeowners insurance is for a $200,000 home in TV.

I read the article and this isn't a proposal to raise rates. It's a study and it's data will be used to calculate rates. The new rates would still need to be established and then pass muster with the state insurance commission. My take on it is that, yes, rates will rise for inland locations but will still not be near coastal rates. They just said that the risk is underestimated inland. It was the writer of the article who used the phrase "same premium pain". And remember this was a commentary piece in the Orlando paper.

http://www.orlandosentinel.com/news/os-mike-thomas-insurance-061411-20110613,0,6936289.column

[Carla B]

Insurance premium woes have been much on my mind, because we just got the bill for our annual renewal and were dismayed to find it had gone up $249! The part of the premium charged for hurricane protection did not increase. The biggest increase was for sinkhole coverage, which went from $179 to $349. We also got a $81. decrease in the credit for PC/Construction factor, whatever that is. Does that mean our 3-yr-old CBS house is becoming obsolete?

Apparently a Republican senator from SW FL convinced the legislature that sinkholes were the "new hurricanes" in Florida. Insurance companies can even deny sinkhole coverage in Pasco and Hernando counties, where many of the claims originate, forcing homeowners into the Citizens state pool.

For many years for us, insurance has started out at a reasonable rate when we've first insured a piece of property, then crept up year by year, even though there've been no claims.

[Russ_Boston]

Carla - Is it possible to put a larger deductible on sinkhole coverage? I don't have my policy with me up here in MA. thanks.

[The Shadow]

Insurance premium woes have been much on my mind, because we just got the bill for our annual renewal and were dismayed to find it had gone up $249! The part of the premium charged for hurricane protection did not increase. The biggest increase was for sinkhole coverage, which went from $179 to $349. We also got a $81. decrease in the credit for PC/Construction factor, whatever that is. Does that mean our 3-yr-old CBS house is becoming obsolete?

Apparently a Republican senator from SW FL convinced the legislature that sinkholes were the "new hurricanes" in Florida. Insurance companies can even deny sinkhole coverage in Pasco and Hernando counties, where many of the claims originate, forcing homeowners into the Citizens state pool.

For many years for us, insurance has started out at a reasonable rate when we've first insured a piece of property, then crept up year by year, even though there've been no claims.

"forcing homeowners into the Citizens state pool."
Gov. Charlie Crist made this bad situation much worse with his populist crusade to suppress insurance rates. He and Republican legislators froze rates charged by Citizens for three years.

Thereafter, they limited premium increases to 10 percent a year.

The result is that Citizens is woefully underfunded. To raise enough money to be fully solvent, Citizens would have to increase rates a whopping 56 percent. This means its customers are paying 44 cents on the dollar for their policies.

Consider this: Between 2004 and 2010, sinkhole claims have cost Citizens $867 million. Yet it has only collected $272 million in sinkhole premiums.
http://www.orlandosentinel.com/news/politics/os-mike-thomas-insurance-042011-20110420,0,614988.column

[Carla B]

Russ, I've got a call in to the agent and will let you know what I find out.

[Russ_Boston]

Hey Shawdow - Have you EVER had a positive comment to make on TOTV? I guess you bring up some good points from time to time but even you must need some joy in your life:)

[The Shadow]

Hey Shawdow - Have you EVER had a positive comment to make on TOTV? I guess you bring up some good points from time to time but even you must need some joy in your life:)

Facts and information can be a bummer.

Joy, my latest joy was seeing this picture of Gabby Gifford with this simile on her face.
http://t0.gstatic.com/images?q=tbn:ANd9GcRz2nKEhmzF1vojjCDRSl3BgP4AxRw4p J3Y3EIIwB2Tg3yhhvBDJA

[Russ_Boston]

There you go. Feels good to be nice huh? :)

[The Shadow]

There you go. Feels good to be nice huh? :)

In a text response you have no inflection so either it is not present or it is applied by the viewer. I do not recall not being nice, I recall being a provider of information that was as accurate as the net and the press typically provides.

As for joy in my life, joy is not something I normally solicit form my computer. I will Google “computer foreplay.”

Now back on topic “Home Owners Insurance Rates” before Mother has a fit.

[Jim 9922]

Good show Shadow!!

Simple facts are not always well received in The Villages

:Screen_of_Death:

[mrfixit]

Good show Shadow!!

Simple facts are not always well received in The Villages

:Screen_of_Death:

I will second that emotion.... GOOD SHOW SHADOW. I might be considered the dullest knife in the drawer.....BUT I saw Shadows' posts as informational and helpful. Keep up the good work Shadow. I appreciate the no B.S. info.

[Larry Wilson]

Let me be the third to say that I like Shadow's posts!!!
I can't stand the know it alls who post over and over (with the support of their little group of friends) and its all fluff. (or as mrfixit called B.S.) If you are really living the Villages lifestyle, you aren't on a computer. ( So what the hell am I doing here!!!) :shrug:

[Taj44]

I don't know why some on this forum find information so threatening and scarey that they have to shoot the messenger with insults. Have seen it happen many times, and yes Larry, its often with the support of their same little group of computer friends. If you've been on this site for awhile, you know who the culprits are. We've learned to ignore them. Larry, what are you doing on TOTV at 1:11AM, lol?? Get some sleep man!

[Russ_Boston]

Mr. Know it all here.

Go read my post. I didn't say I don't like his posts. In fact I said and I quote "I guess you bring up some good points from time to time". I don't see where I shot the messenger with insults. I just like it when we, I mean all of us, post good info but also post some good natured material. And yes, you had to be talking about me because I'm the only one who wrote directly mentioning the Shadow.

Boy, you guys need to read better.

[Russ_Boston]

.

[graciegirl]

.

I agree with this post. I do, I did, and I always will. Somethings are left unsaid but I kinda know what you are thinking.

Fun will be had in The Villages by the wise, the young in heart and the positive.

I am glad I know you so well Russ Boston, even if I have yet to hug you.

[skyguy79]

I agree with this post. I do, I did, and I always will. Somethings are left unsaid but I kinda know what you are thinking.

Fun will be had in The Villages by the wise, the young in heart and the positive.

I am glad I know you so well Russ Boston, even if I have yet to hug you.Mee too Gracie! I haven't given Russ a hug yet either! :shocked:

[Russ_Boston]

Mee too Gracie! I haven't given Russ a hug yet either! :shocked:

Remember I'm from Boston. So let's start with Gracie and see where it goes:)

[eremite06]

200K home in Villages. $463.00 premium. St. Johns Insurance Co.

[GeorgeT]

Mr. Know it all here.

Go read my post. I didn't say I don't like his posts. In fact I said and I quote "I guess you bring up some good points from time to time". I don't see where I shot the messenger with insults. I just like it when we, I mean all of us, post good info but also post some good natured material. And yes, you had to be talking about me because I'm the only one who wrote directly mentioning the Shadow.

Boy, you guys need to read better.

Sorry Russ but I found your post to Shadow to be judgmental and a little condescending. You assume he needs joy in his life based on what? Based on what he writes here?

[Russ_Boston]

Sorry Russ but I found your post to Shadow to be judgmental and a little condescending. You assume he needs joy in his life based on what? Based on what he writes here?

Yes, but maybe I'll change 'joy in your life' to 'joy in your blogging' :)


Every single person that I've met in person whom I first met on this website had almost the exact personality that I pictured through their words. If I ever meet Shadow in person and I find that I'm incorrect I'll be the first to post that fact here. Until then I have a pretty good picture of what he/she would be like based on the posts. Judgmental? I'm OK with that.

[kentucky blue]

Another question on home owners insurance.For those of you who rent your property in TV, how much more is your insurance premium?I'm sure you have to disclose the fact that you will be renting your property when you applied for insurance. Also,how much of a problem have sinkholes been in the past in TV's? Finally, Shadow i'm glad your around , just for a little balance and some informative post.

[Chi-Town]

I have ASI coverage for my Designer model through the Villages Insurance. July '09 - $1300. July '11 $1800.00. Same coverage, no claims. Hardly in keeping with the inflation rate.

[Russ_Boston]

I have ASI coverage for my Designer model through the Villages Insurance. July '09 - $1300. July '11 $1800.00. Same coverage, no claims. Hardly in keeping with the inflation rate.

Even the $1300 seems high. Any idea what that was out of line to start with?

Do you rent the house out?

[kentucky blue]

I have ASI coverage for my Designer model through the Villages Insurance. July '09 - $1300. July '11 $1800.00. Same coverage, no claims. Hardly in keeping with the inflation rate.

That does seem really high, our Designer through Village Insurance is under $1000.00, and we have the deluxe package with house insuranced for over$300,000.I know the insurance companies use lots of statistics to figure out individual premium rates, plus renting your property has to increase premium.

[The Shadow]

I do not think people are considering that two identical polices with the same insurance company with the only difference being the “Deductable” will result in a big difference in annual rate.

When comparing premiums on a $300,000 home one must consider, do both have or not have sinkhole coverage, flood coverage, and deductable amount. Any one of the three can make the premium vary hundreds of dollars.

Sinkhole coverage and flood coverage do cost extra.

[rubicon]

I am furious. Last year my rates went up an additional $800. so I dropped dwelling coverages and did a hefty increase for my hurricane and general deductible . It brought down the rates to just about what I had previously paid. Now my annual renewal shows up and the rate went up an additional $750. i called State Farm and they claim that the hurrican exposure is equal to that of the coast. i explained that we had a weather guy visit our state club a few years back and he made it clear that a hurricane coming inland was negiligble. He stated if you weather was a big factor when considering a move central florida was a good choice.

So it means that in one year State Farm increased my premuim some $1,500. I carry all my insurance with them and have high liability limits and high deductibles on all of my policies, including my golf cart insurance. This is just outrageous I have a designer approx 3200sf. There is just no justification for these hikes.

I suspect State Farm threatened the Insurance Department that they would pull out if they did not get their way.

State Farm is forcing inlanders to pick up the cost of those multi-million dollar homes being built along the coast. I suspect it is so because the people living in those homes have more power and better connections than people in TV. I beginning to believe that I can't afford to live here anymore.

I do intend to writ the Insurance Dept and I do expect the Insurance Dept will ignore my letter

[Bill-n-Brillo]

rubicon -

If I were in your shoes, I'd be freaking out as well. However, as I was reading your post and came to the part about you stating your coverage is with State Farm, I understood why your rates are escalating. When Sandy and I were looking for homeowners insurance for our new-to-us PV late last year, we encountered the "not writing any new HO policies in Florida" dilemma. Here's some insight on the rest of the story:

http://www.msnbc.msn.com/id/35220269/ns/business-personal_finance/t/state-farm-cancels-thousands-fla/

http://www.miamiherald.com/2011/02/15/2068811/state-farm-defends-proposed-homeowners.html

I believe State Farm has all their existing FL business set up under a separate business entity and are working to make that business stand on its own, ie. they're not spreading their FL losses across other parts of their corporate structure. Hence the financial 'Catch-22'.....

I'd suggest you shop for another insurer. We had to - - - and we've had all our insurance (in OH) with S.F. for 35 years.

Bill :)

[Schaumburger]

So I guess SF's motto for Florida homeowners should be "Like a not-so-good neighbor, State Farm will charge you $$$$$ to be there" And I've had SF for all my insurance for 27 yrs.

[Chi-Town]

Even the $1300 seems high. Any idea what that was out of line to start with?

Do you rent the house out?
The $1300.00 was in line with my old policy up north, so when I moved to TV I didn't think much about it. I have $500.00 deductible on the general policy and the hurricane coverage. I have sinkhole coverage also. BTW, the house is a seven year old block and stucco. Just received the bill and am calling the agent tomorrow.

[Bill-n-Brillo]

Schaumburger -

Yep, that's kinda the feeling we had too when we found out about the 'no new HO policies' dealie-do! :22yikes:

Keep in mind, though, SF is still writing new policies for everything else they've traditionally insured in the past. We got our golf cart insured with them - no problem-o.

Bill :)

[rubicon]

rubicon -

If I were in your shoes, I'd be freaking out as well. However, as I was reading your post and came to the part about you stating your coverage is with State Farm, I understood why your rates are escalating. When Sandy and I were looking for homeowners insurance for our new-to-us PV late last year, we encountered the "not writing any new HO policies in Florida" dilemma. Here's some insight on the rest of the story:

http://www.msnbc.msn.com/id/35220269/ns/business-personal_finance/t/state-farm-cancels-thousands-fla/

http://www.miamiherald.com/2011/02/15/2068811/state-farm-defends-proposed-homeowners.html

I believe State Farm has all their existing FL business set up under a separate business entity and are working to make that business stand on its own, ie. they're not spreading their FL losses across other parts of their corporate structure. Hence the financial 'Catch-22'.....

I'd suggest you shop for another insurer. We had to - - - and we've had all our insurance (in OH) with S.F. for 35 years.

Bill :)

I am familar with the fact that State Farm operation here in Florida is its own profit and loss center. However, what they may lose in profit for property theygain hefty in all other lines.

[Mudder]

We are happy to have insurance whatever the cost....our house had a direct hit with lightning last Weds. evening. As a result we have many new items and still finding more things that are not working, still have a 4 foot square hole in the roof over garage that the firemen had to make to take care of smoke and smoldering wood. Insurance guy was here, took info, will put in request for financial assistance. If initial check does not cover we submit to get further financial asistance, minus the deductible of course. Roof will be biggest expense, but all the electronic small stuff adds up fast as does all the food that had to be thrown out. It has all been a hassle, but no one was injured and we were only out of our house for one day. The amount the insurance company will be giving us is way more than several years premiums. So, I guess the moral of this story is just pay the insurance you never know when you'll really need it!

[duffysmom]

Mudder, I'm curious about your home. Is it all electric or is it gas. Our home has gas and I'm unhappy with the gas line being in the attic. Obviously your home did not catch fire or if it did it wasn't a total loss. The last couple of years a few homes went up in flames after a lightning strike and were a total loss. Another question if I may, do you have lightning rods. That is a controversial subject and one that I've debated for some time. The lightning strikes in central Florida are awesome and something to behold; evidentially we have the most lighting strikes of any place in the country. Thanks and good luck with your recovery. Now back to the topic, I agree that insurance is extremely important.

[Mudder]

Our house is all electric, I happen not to like gas, never had it in any house we've had. Just my personal choice. Lived in Tampa for 13 years, have seen lots of big lightning and heard lots of ginormous thunder, but this one took the cake ! The firemen said that it was lucky we were home, when the house is vacant it sometimes is to late by the time the neighbors are aware of anything. Sorry I can't help with any gas questions. And no, our house doesn't have any lightning rods, but we're considering it now. By the way we live in El Cortez so the house is 19 years old. We were told by neighbors that this house had another direct hit about 14 years ago in just about the same place.

[Bill-n-Brillo]

Mudder, your upbeat outlook on your situation is refreshing! :coolsmiley: Hope the repairs, etc. all work out well for you with minimal hassles - - -

Bill :)

[duffysmom]

Thank you for answering my questions Mudder. I guess lightning can strick twice in the same place. I too admire your upbeat attitude and wish you the best.

[2BNTV]

Mudder:

WOW! Great attitude. I hope everything works out for you.

[jebartle]

requested Wind inspection (free)....Will definitely reduce your rate!
Our Premiers insurance with Village Insurance with ALL coverage except (if our attack dog??, dachshund, should bite) was $1100.


I have ASI coverage for my Designer model through the Villages Insurance. July '09 - $1300. July '11 $1800.00. Same coverage, no claims. Hardly in keeping with the inflation rate.

[Mudder]

Thanks everyone. Our three year old grandson is here visiting so it's a great distraction ! It was quite a dramatic welcome for him and his parents who came from Seattle ! Otherwise I'd be pacing the floor waiting for everything to get fixed.

[DENNIS G]

WOW! Just got our renewal, it went up $810. this year.

[rubicon]

Without boring anyone ...if anyone posting on this thread understands the benefits of property/casualty insurnce iot is me. However in that same vien, I have never been anywhere wherein I have witnessed rate increases to this magnitude. I really resent that I am subsidizing homeowners all along the coast line. There is not way an insurer can justify these % of increases based the the loss experience in this area

[Chi-Town]

requested Wind inspection (free)....Will definitely reduce your rate!
Our Premiers insurance with Village Insurance with ALL coverage except (if our attack dog??, dachshund, should bite) was $1100.
jebartle, what is Wind inspection? I talked to the Villages Insurance today, and they told me that the state insurance commissioner gave the OK to the insurance companies to raise their rates. Evidently there was a ceiling in place that the companies said was unfair and they needed to catch up. Beware of new yearly bills is all I can say.

[rubicon]

jebartle, what is Wind inspection? I talked to the Villages Insurance today, and they told me that the state insurance commissioner gave the OK to the insurance companies to raise their rates. Evidently there was a ceiling in place that the companies said was unfair and they needed to catch up. Beware of new yearly bills is all I can say.

My agent told me that Florida insurers are either raising rates, reducing coverages, or both, or canceling policies. she claims that people will be getting hefty increases at their renewals. One of the reduction of coverages is with sinkholes

[Ohiogirl]

Another question on home owners insurance.For those of you who rent your property in TV, how much more is your insurance premium?I'm sure you have to disclose the fact that you will be renting your property when you applied for insurance. Also,how much of a problem have sinkholes been in the past in TV's? Finally, Shadow i'm glad your around , just for a little balance and some informative post.

Insurance when we were renting was a little less - you cannot get replacement insurance when you are renting it out. Ours went up a little (around $800) last fall when we moved down and quit renting it out. I think it was just under $600 5 years ago when new, and has risen slightly most years, might still be under $800. 3 BR CYV.

By the way, The Villages Insurance is an agency, not the carrier. We have ASI. Most carriers limit their Florida exposure and only take a certain # of properties in Florida, even if you are not on the coast, although coastal premiums are higher. Will be waiting to see if ours has a big jump on renewal this fall. Hope not. Maybe some of you have larger premiums because of high liability coverage? as well as low deductibles?

[John_W]

I just took out a policy two weeks ago on a new Savannah Woodlawn Courtyard Villa in Tamarind Grove. I used Sherri Miller at Villages Insurance and requested ASI, however she said they have stopped writing policies and set me up with American Integrity. Replacement value of $160,000 with sink hole and wind storm came to $532 a year. It didn't seem too bad since I pay about that same amount in Maryland for a $265,000 home but without hurricanes or sink holes.

[handyman]

Without boring anyone ...if anyone posting on this thread understands the benefits of property/casualty insurnce iot is me. However in that same vien, I have never been anywhere wherein I have witnessed rate increases to this magnitude. I really resent that I am subsidizing homeowners all along the coast line. There is not way an insurer can justify these % of increases based the the loss experience in this area
It appears to me that insurance commisioner kevin mccarty just rubberstamps anything the most profitable insurance companies tell him to....................what will these massive increases do to property value?Is an appointed commisioner best for the citizens, or the insurance companies?I think that he should be invited to speak at one of the Squares ,I am sure that he would be more then happy to stand at the podium and answer any quetions as to why the people in the villages should have to subsidize the people in his part of the state!!

[Bob45]

When did these increases start? I renewed my home owners policy in April with no increase over last year.

[rubicon]

It appears to me that insurance commisioner kevin mccarty just rubberstamps anything the most profitable insurance companies tell him to....................what will these massive increases do to property value?Is an appointed commisioner best for the citizens, or the insurance companies?I think that he should be invited to speak at one of the Squares ,I am sure that he would be more then happy to stand at the podium and answer any quetions as to why the people in the villages should have to subsidize the people in his part of the state!!

In the 1970's several large insurers bolted against the state of New Jersey because the state had unlimited No Fault coverage and would not grant premium increases. So the large insurers State Farm, Nationwide, Allstate, etc. told the State that they would stop writing auto. So the State told the insurers if you won't write auto you won't write anything. Some of these companies pulled out and left a capacity gap which the state tried to plug with a JUA which went broke. Sound familiar hint, Citizen Property. So NJ made peace with the insurers and after better than 10 years they came back to the State. It appears the large insurers told the state of Florida they would pull out and the rest is extraordianry increases.

For those of you who have not received your renewals yet...be prepared for future sticker shock

[HMLRHT1]

We just switched from SF to ASI via AAA in May. We have been with SF for 30 some years and when we become frogs next year we will change insurance for everything else to AAA. why continue to support an insurance company with ur other insurance needs when u don't or can't use them for ur homeowners insurance? You lose ur multi coverage discount then. We were going to pay $1600 for a 1800sqf patio villa down to $850.

[JimJoe]

Article in Orlando Sentinal on sinkhole insurance today..

http://www.orlandosentinel.com/news/opinion/os-ed-sink-holes-073011-20110729,0,358515.story

Is this bologna? Is TV in what they call a high risk area? I had heard of a few issues but not many for an area as large as TV.
Thanks.
JJ

[JohnM]

I saw this article and called my agent ... he tells me that there is a huge problem with fraudulent claims, currently in the area west of I75 in the Tampa area, BUT he has seen ads for "sinkhole adjusters" in TV and predicts it will only be a matter of time ... FWIW ... maybe the new legislation will slow the fraudulent claims ...

[obxgal]

Here is an online map of sink holes in Fl. Go to the county you live in then check on the zoomify version for a closer look.

http://fcit.usf.edu/florida/maps/galleries/sinkholes/index.php

[GatorFan]

Wonder what current map looks like?

[PJOHNS2654]

I recently read that insurance companies in Florida are going to readjust rates on homes inland to be comparable to the rates that they charge to coastal properties. It's based on the assumption that the risk from hurricane damage is higher inland than they previously thought. As someone who is considering moving to central Florida (The Villages) in the future I was wondering what the approximate yearly rate for homeowners insurance is for a $200,000 home in TV.

Anyone want to weigh in on currant rates and coverages.

[CTgolfer]

Current homeowners' insurance rates as of Feb, 2012: Dwelling coverage is for $290,000 (excludes land value). Includes $500 deductible for sinkholes and hurricanes. Cost is around $1,050.

[fromct]

I use AARP for auto and H/O in CT. Has anyone got coverage with them down here?

[rodie]

Current homeowners' insurance rates as of Feb, 2012: Dwelling coverage is for $290,000 (excludes land value). Includes $500 deductible for sinkholes and hurricanes. Cost is around $1,050.

Who do you have insurance with?

[CTgolfer]

Who do you have insurance with?

Our HO insurance is with Security First Insurance. We purchased it from AllState near Walmart on 466. You can get a quote from Elaine Fissette at (352) 753-4340.

[KEVIN & JOSIE]

I have ASI coverage for my Designer model through the Villages Insurance. July '09 - $1300. July '11 $1800.00. Same coverage, no claims. Hardly in keeping with the inflation rate.

Unfortunately that's what happens when you lose alot of large insurance carriers to compete with. Supply and demand. I guess the most important thing is that insurance to cover a loss is available, and they are solvent enough to pay the claim.

[rodie]

Our HO insurance is with Security First Insurance. We purchased it from AllState near Walmart on 466. You can get a quote from Elaine Fissette at (352) 753-4340.

Thanks for info. I did call them, but Elaine was busy so I talked to Mike. He said that all of their companies don't write policies covering the minor sinkhole, only the catastrophe sinkhole.

So, I have called the Villages Insurance who want me to go with Ark Royal, which is a sister company to ASI. The agent said that ASI stopped writing policies in this area over a year ago.

Has anybody dealt with Ark Royal?

[KEVIN & JOSIE]

Thanks for info. I did call them, but Elaine was busy so I talked to Mike. He said that all of their companies don't write policies covering the minor sinkhole, only the catastrophe sinkhole.

So, I have called the Villages Insurance who want me to go with Ark Royal, which is a sister company to ASI. The agent said that ASI stopped writing policies in this area over a year ago.

Has anybody dealt with Ark Royal?

What is a minor sinkhole?

[784caroline]

There are two types of Sinkhole coverage and you really need to know what you have in your policy. All Florida policies will have catastropic ground cover collapse coverage with the typical deductible at what ever your all perils deductible is for your policy. Most are written at either $500 or $1000 deductible. This insurance kicks in when your house is ordered to be vacated by government authority and at the point of being condemed. Alot of people assume this type of coverage to be "sinkhole insurance" but its all in the definitional terms.

The Issue before us that is causing the high insurance rate increases deals with 'Sinkhole loss" which is defined as the gradual movement of earth supporting your property(or sinkhole activity) and typically idenitifed with cracks in the wallls or foundations, or doors and windows cannot open properly. This is the so called "Minor" sinkhole loss but believe me if you need repairs for this type of damage it is very expensive. This type of damage does not get the front page newspaper reports and your house is not typicaly ordered to be vacated by a government authority.

Do not confuse Catastropic Ground Cover Collapse as being sinkhole insurance that covers gradual movement of earth supporting your property. They are totaly different in what they cover and their cost and deductibles. To make many policies affordable for sinkhole coverage that includes "gradual earth movement" companies are starting to impose a 10% deductible on such coverage. For a home valued at $300,000 and insured for $250,000 (no land), your deductible (OR YOUR OUT OF POCKET EXPENSE) would be $25,000 before the insurance company would start paying. This makes the hurricane deductible at 2% seem like a bargain.

[hedoman]

Our annual bill just came in. Raised the hurricane coverage. all in all 10% increase

[PaPaLarry]

I agree with you Russ!! I'd rather we could stick to the question or statements, WITHOUT bringing politics into the fore front!! Keep up the good work. Hopefully we can get back to Property Insurance, and find out if we can get a higher deductable on Sinkhole Insurance to bring premium down?? :bigbow: