[Stu from NYC]

Originally Posted by retiredguy123

I find it very difficult to believe that insurance companies are losing money on the homeowners insurance policies they sell, especially in The Villages. I would like to see the math.

Your probably right but they are raising prices drastically in response to their payouts.

[mrf0151]

Insurance rates by state 2023. Florida is not the highest.
https://www.bing.com/ck/a?!&&p=c7e03...dGF0ZXMv&ntb=1

[Caymus]

Originally Posted by mrf0151

Insurance rates by state 2023. Florida is not the highest.
https://www.bing.com/ck/a?!&&p=c7e03...dGF0ZXMv&ntb=1

Looks like "Tornado Alley" is much more expensive.

[CoachKandSportsguy]

Originally Posted by mrf0151

Insurance rates by state 2023. Florida is not the highest.
Homeowners Insurance Rates by State for 2023 | Bankrate

But its in the top 10 as a percentage of income, mostly due to the retirees income, making it expensive for retirees.

Also, with the cost at $1,981/1,428 or 39% more expensive than the average home nationwide, this might offset all the savings from no state income taxes.

Also, in round numbers, at $2,000 state avg per $250K, with house prices increasing for labor and materials, one can easily see a $3,000 to $4,000 annual cost as an expected future average rate in TV homes.

Also with ALL the local labor employed by the villages constructing new homes,, there is very little left over for the reconstruction trades if you have to rebuild a complete house at the same cost as a new construction. . I would takes the insurance money, raze the remains, sell the lot, and buy a new house. .

good luck to us. .

40 days until former finance guy

[justjim]

Originally Posted by msilagy

A neighbor in Il is a seasonal occupant of a duplex in Ft Myers. Her home was not damaged by the hurricane but the new insurance is $2500 every 3 months or $10,000 a year! As a side note I doubt the new roofs are a major factor in TV. It's the potential weather risks everywhere.

The average middle class resident can no longer live on the Coast because of the cost of insurance and the HOA fees required by new FLorida HOA regulations. I believe Central Florida residents (including Villagers) are beginning to feel that increased insurance costs and higher interest rates are starting to affect real estate values here in The Villages too.