[Two Bills]

Originally Posted by NJRICHARD

What happens to all the money they collect when there are no storms. They have one storm and all of a sudden, they have to raise all our rates? At times they don't have storms for years and years and still collect money every year?.....where does all this money go?

On fraudulent roofing claims, and many Villagers are amongst those fraudulent claimants.
Probably the same people now complaining about insurance premium increases.

[Normal]

Originally Posted by Two Bills

On fraudulent roofing claims, and many Villagers are amongst those fraudulent claimants.
Probably the same people now complaining about insurance premium increases.

I agree. Nail them with the bill! Tie those insurance cheats to a steak and burn them down. I am getting great satisfaction in seeing rates differentiated for those addresses that filed roof claims. Thankfully the governor has passed legislation to make it a little more desirable to insure in Florida. The law should see some fruition within the next couple years.

[JGibson]

Originally Posted by Two Bills

On fraudulent roofing claims, and many Villagers are amongst those fraudulent claimants.
Probably the same people now complaining about insurance premium increases.

How is it fraudulent if the insurance inspector approved the roof replacement?

If you're talking about the roofers who sue than blame the courts for granting them the new free roof.

Unless someone went up on their roof and intentionally caused damage it's not fraudulent.

[Two Bills]

Originally Posted by JGibson

How is it fraudulent if the insurance inspector approved the roof replacement?

If you're talking about the roofers who sue than blame the courts for granting them the new free roof.

Unless someone went up on their roof and intentionally caused damage it's not fraudulent.

Plenty of posts on how the scam works, and how it is cheaper for the insurance companies too settle claims, rather incur the huge costs of fighting fraudulent claims in court.
You sound as if you are defending fraudsters, or your new roof!

[Velvet]

Yes, the real scams, legal costs etc need to be reigned in. The problem is usually not with getting a new roof, but with the associated legal fees which are much higher than the cost of the new roof.

[Vickim]

Originally Posted by Vermilion Villager

This is not political and hopefully one will look at the facts. I don't care who is in elected office.... something MUST be done or many will be forced out of their homes.

The average premium for homeowners insurance in Florida hit $6,000 per year for 2023, compared with just $1,700 for the nation as a whole, according to the Insurance Information Institute. Florida premiums have soared by 42% in the last year alone, and by 206% since 2018.
Homeowners in DeSantis’s Florida face a costly and unique problem

If you look at it just singular yes we pay high insurance but property taxes are low. We paid $7000 ( for $350k home ) 10 years ago in Texas in property taxes. If you claim homestead you get an exemption , veteran another exemption & widow another tax exemption. Florida also doesn’t tax our military retirement money. Cheaper by far here and like other poster not a million dollar home

[Pballer]

Originally Posted by Vickim

If you look at it just singular yes we pay high insurance but property taxes are low. We paid $7000 ( for $350k home ) 10 years ago in Texas in property taxes. If you claim homestead you get an exemption , veteran another exemption & widow another tax exemption. Florida also doesn’t tax our military retirement money. Cheaper by far here and like other poster not a million dollar home

The reason that your property taxes are low is that Florida unfairly burdens snowbird nonresidents, newcomers and investors with high property taxes by assessing their properties at full market value while your property is assessed at some low market value from years ago.

[CoachKandSportsguy]

If one doesn't have the financial resources to afford living with the storms, yes, they may have to move to a cheaper location. Insurance is just part of the picture, but if you are living paycheck to paycheck, then you need to either shop around or relocate.

There are no guarantees in life, and sh*t happens to everyone from time to time. government doesn't solve problems until it becomes a very serious issue, and the insurance problem isn't quite there yet, but it might get there. Unless the political contributions buy the lawmaker, which has become the inherent risk in this country now.

good luck all, but you are not guaranteed to live anywhere in a static financial condition.

[CoachKandSportsguy]

Mega-Rich Are Paying $600,000+ a Year to Insure Their Mansions Against Climate Disaster

[kkingston57]

Originally Posted by Foxtrot

I pay $1,333 this year. Of course I don't have a million dollar home either.

Ours was $1200. Just got renewal and it went to $1800(50% increase). Not complaining same coverage near the coast is 5K.

[kkingston57]

Originally Posted by eyc234

Yet voters in Florida keep voting in the same people year after year and they do nothing to help the people they are suppose to represent. Two special legislative sessions and insurance rates have done nothing but go up. Thanks for nothing!!!!!

I was in the biz and the legislators were pro active about the problem but it will take years for the new rules to have an affect on the prices. On the other hand, if hurricanes continue to hit Florida, all bets are off. Can't move Florida and hurricanes are still going to hit Florida.

[Topspinmo]

My insurance when down, but I didn’t get free roof. I wonder what idiot insurance company would insure property right on the beach anyway. IMO insurance companies should not be able to discriminate. Want sell insurance all states or none. But we know why that don’t happen.

[kkingston57]

Originally Posted by Andyb

Most if the increase is due to federal regulations and high risks from hurricanes.
At least we don’t have a state income tax.

What federal regulations? If there were federal regulations they would affect all states.

[vintageogauge]

Originally Posted by LuvNH

We have all chosen to live in a State with yearly natural disasters, some small and some big. Someone has to pay for the damage. My home insurance doubled over an 18 yr period.

So did the value of your house.

[Fredster]

Originally Posted by Cobullymom

Those who know no better want the government to take care of everything. We see how they take care of our money....

Amen to that….