During Special Session Dec 2022 Senate Bill 2A was passed. In it...
"Assignments of Benefits:
Prohibits the assignment, in whole or in part, of any post-loss insurance benefit under any residential property insurance policy or under any commercial property insurance policy issued on or after January 1, 2023.

This means that Assignment of Benefits are no longer an option to be used in property insurance claims. You are unable to sign over your insurance benefits to a third party if your policy is issued on or after January 1, 2023.".

There are many other things in this and other legislation that was passed and signed into law by the Governor.
SOOOOOOO, it appears DeSantis IS doing something to address the insurance problem. "Not a political statement". LOL!
SOURCE: Property Insurance Changes

Sounds like different political rules for different people I got an infraction for way less than this political charged thread.
I guess it depends on what side you're on.

South Dakota has very low insurance and tax rates. If Florida is too expensive, there are plenty of other places you can move too. Send us a postcard and let us know how you are doing.

Once you mention our great governor, DeSantis, it then became political.

Florida Family Insurance - Ocala
 

We have a $850K home, full coverage $2,800/year.

Just wait until your roof approaches 15 years old!

I thought that already passed early this year? Yay, DeSantis!

Very helpful reply.

Mid-range
 

I do not know what your circumstances are but sounds like you need to check other companies. In a general review I found Florida no where near the top of the national average, in fact right in the middle. It was the same for various home values ranging from $200k to $500k.

The legislature needs to continue cracking down on fraudulent roof claims. There is no such thing as a free roof and now your neighbors are paying for the fraud many Villagers committed

1183 yearly on a Designer Home. Home price has doubled in 3 years. Insurance has remained constant. When I moved into the home the agent said it was a great price because on block walls and the design of the roof. That was fine with me. ������

Where is the money?
 

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?

is still less than we paid in Ct.

By state.

The solution is simple.

Force insurers to offer depreciated value insurance. You don't expect State Farm to give you a new car if gets hailed on; why do you expect them to buy you a new roof for the same reason? But try asking them to write a policy that doesn't cover your roof (and everything else) at full replacement value. It's not allowed in Florida.

I never had full replacement value on my roof in Texas or Oklahoma. A tornado took off half my roof in Tulsa one time. Allstate replaced half my roof.

My house in Houston was the same size as my current house, except it had big wrap-around porches and two barns on the property. I went through three hurricanes and two floods in that house. During Harvey, it rained 36 inches in 48 hours, and even though I was not in a flood plain, I had flood waters lapping at the foundations, and was trapped in the house for a week.

That brick/frame house in Houston had a 20-year-old roof, and was not built to any hurricane standard. It was the same age as my current home. It was exactly the same distance from the ocean as my current house. And yet the cost to insure my Texas house AND TWO BARNS was HALF what I pay in the Villages to insure a concrete house with steel studs designed to withstand 110 mile winds, with a 3-year-old architectural shingle roof -- that has NEVER experienced a single hurricane or other threatening weather. Why? Because in Florida, I'm required to buy "full replacement cost" insurance that I don't need or want.

Well, that, and the fact that practically everyone I've met since I moved there (including the previous owner of my own house!) have used their "full replacement cost" insurance policies to scam their insurance company out of a new roof!

Just received our annual homeowners premium notice from USAA for our Patio Villa. Increase from $600 to $700 a year. We were expecting an increase, but this is not terrible.

The insurance companies the public deals with lay off the highest part of the risk with reinsurance companies. These premiums are paid every year. If there are no bad storms then the reserves at the reinsurance companies build up so that, in years that there are bad storms, they have sufficient assets to pay out on the reinsurance, so the company through which you are insured has the funds to pay for your damage,

My insurance is low
 

My insurance isn’t that high. Sumter county has one of the cheapest rates in the state. Don’t look at(all of Florida), look at where the Villages are. That is the rate you pay here. It’s much different in cost compared to the costal towns and communities.

I have Progressive homeowners insurance. Last year it was $2,682.00 if paid in full. (NOW GET READY FOR THIS!) This year the bill just came in and it is $6,981.00 if paid in full. It cost more if you pay in payments. That's a big jump in price. My agent said that Progressive is trying to outbid themselves to get out of selling homeowners insurance. So far, she has found an insurance company that is a little less than $400 more than what I paid last year for the same coverage.

Stop permitting houses to be built near or on the water or in the areas that historically have been known to flood how about that for a start.

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

Yep
 

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.

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!

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.

Look at the whole picture
 

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.

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.

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

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.

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.

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

So did the value of your house.

Amen to that….:bigbow: