[CoachKandSportsguy]

https://www.iii.org/sites/default/fi...f_05082024.pdf

FL turned into an unprofitable location starting in 2017. . :yikes:

Part of the reason is that FL has 1 lawsuit per 300 policies, and the rest of the country has 1 lawsuit per 13,000 policies.

FL has 82% of the lawsuits of the entire country. . .

(third world state/country legalized corruption) FL legislature run by pandering lawyers to legal friends, family and colleagues. . .

[Rainger99]

Originally Posted by CoachKandSportsguy

https://www.iii.org/sites/default/fi...f_05082024.pdf

FL turned into an unprofitable location starting in 2017. . :yikes:

Part of the reason is that FL has 1 lawsuit per 300 policies, and the rest of the country has 1 lawsuit per 13,000 policies.

FL has 82% of the lawsuits of the entire country. . .

(third world state/country legalized corruption) FL legislature run by pandering lawyers to legal friends, family and colleagues. . .

Before moving here, was anyone aware of Florida’s insurance problems?

I had no idea that insurance was so high. But apparently, it has gone up in almost every state so the prices I was paying up north are much higher now so I can’t compare my 2020 prices up north with my 2024 prices in Florida. Same with food.

But with low property taxes and no state income taxes, I am still saving money in Florida.

[Snakster66]

Originally Posted by Rainger99

Before moving here, was anyone aware of Florida’s insurance problems?

I had no idea that insurance was so high. But apparently, it has gone up in almost every state so the prices I was paying up north are much higher now so I can’t compare my 2020 prices up north with my 2024 prices in Florida. Same with food.

But with low property taxes and no state income taxes, I am still saving money in Florida.

To answer your question: yes, and I'm moving to TV anyway.

I could repeat your last sentence because it is unquestionably true.

[Stu from NYC]

We are here and not leaving.

[Rainger99]

Originally Posted by Snakster66

To answer your question: yes, and I'm moving to TV anyway.

I could repeat your last sentence because it is unquestionably true.

In 2024, I think more people know about insurance being an issue. In 2021, when I bought, I don’t recall it being an issue. In fact, when we bought, I remarked at how low insurance was. Auto and home have gone up about 50% since then with no claims.

My state income tax has remained steady at 0% and property taxes have gone up less than 5%.

[thelegges]

We pay higher insurance for our northern residents than in TV. Storm damage from ice, snow, hail, straight winds and those pesky tornado will do it every time

[Caymus]

Somebody is making money. I noticed that insurers Allstate and Progressive stocks hit all-time highs today.

[Pugchief]

Homeowners insurance is higher UpNorth on other house.

That being said, prices are up across the board, massive inflation in the last 3 years, but according to some posters here it's your imagination.

[lkagele]

Originally Posted by CoachKandSportsguy

https://www.iii.org/sites/default/fi...f_05082024.pdf

FL turned into an unprofitable location starting in 2017. . :yikes:

Part of the reason is that FL has 1 lawsuit per 300 policies, and the rest of the country has 1 lawsuit per 13,000 policies.

FL has 82% of the lawsuits of the entire country. . .

(third world state/country legalized corruption) FL legislature run by pandering lawyers to legal friends, family and colleagues. . .

Florida has had a 'pandering lawyer' problem for literally decades. The costs associated with that problem have been baked into the premium pie for quite some time.

I think the current insurance crisis is related more to mostly property and to a small degree, auto insurance. Property insurance costs have gone up 250% in the 10 years I've been here. Personal Liability Umbrella less than 50% during that same time.

[RoseyRed]

Originally Posted by Caymus

Somebody is making money. I noticed that insurers Allstate and Progressive stocks hit all-time highs today.

interesting observation!

[waterflower]

Maybe time to start a co-op home owners insurence company.

[Rocksnap]

Having a Premier house built, we close in October. Just looked into insurance. One company was actually LOWER than what we paid in CT. Another was some $600 higher.

[MX rider]

We just sold our home here in Indiana and are moving to TV in a couple months. We were snowbirds.
Our home owners insurance isn't a lot higher than here, but car insurance is double what we're paying now. Luckily we're going down to 1 car when we move, so that should be a wash for us.

[RRGuyNJ]

I have done all sorts of searching about insurance and property taxes. I figure everything on the property tax bill is essentially property tax. Property tax, maintenance, fire, the dreaded BOND all are coming out of pocket. Add in the amenity fee and the out of pocket cost is at or near what we were paying in Jersey,
Yeah yeah, I know a lot of this is not actually property tax but it does come out of pocket. Add in a new roof every 12 to 15 years along with supposedly water heater and HVAC equipment just because the insurance company says so. This all makes the cost to live in The Villages high, very high! I enjoy it there but I'm sticking with a month rental once or twice a year. For now any way. I never say never. Well, maybe once or twice I said never.

[Vinscalese]

The legal system In Florida has been dominated by trial attorneys forever. That is very much a known situation. Until that changes and lawsuits are curtailed the insurance costs will be absorbed by all unfortunately.

Plaintiff-Friendly Laws: Florida has certain legal provisions that are considered favorable to plaintiffs, which can encourage more lawsuits. For example, the state has a history of awarding large settlements or judgments in personal injury and wrongful death cases. Florida’s legal environment has also seen significant activity in areas like medical malpractice and personal injury protection (PIP) insurance litigation

Active Legal Community: Florida has a large number of attorneys and a very active legal community, which can also contribute to the number of lawsuits. With more lawyers available to take on cases, there is naturally a higher incidence of legal action being pursued.