[PurePeach]

Originally Posted by villagetinker

We use progressive, bundled, home, auto, golf cart.

Progressive raised our neighbor’s renewal rate by almost double the precious year. She was told by them when she called it was because they’re getting out of the FL market by raising rates as their policies renew.

[Aces4]

Originally Posted by OrangeBlossomBaby

Meanwhile - as I live in a manufactured home, there are only a couple of insurance companies that will cover my home at all. We have a metal roof so we don't really have to deal with increases resulting from aging roofs, but our premiums are higher than houses because manufactured homes are considered less stable and a higher risk for damage/catastrophic destruction during hurricanes and other incidents.

But they are also less expensive to replace/repair. I’d live in a manufactured home or doublewide in a heartbeat… if it came with a quality storm shelter.

[OrangeBlossomBaby]

Originally Posted by Aces4

But they are also less expensive to replace/repair. I’d live in a manufactured home or doublewide in a heartbeat… if it came with a quality storm shelter.

It's actually more expensive. Manufactured home insurance does not include the property that the home is on, at all. It covers the structure. My structure was put together on this property in 1985, it was a new model at the time. This model (which would need to be registered with the DMV if I was renting the property it's on) is now almost 40 years old.

So if the entire structure was irreparable and needed to be replaced, I'd get a whopping $28,000 for the replacement cost. That would basically cover the cost to have a new structure delivered, and I'd still have to pay around $140,000 to purchase the new structure.

[Aces4]

Originally Posted by OrangeBlossomBaby

It's actually more expensive. Manufactured home insurance does not include the property that the home is on, at all. It covers the structure. My structure was put together on this property in 1985, it was a new model at the time. This model (which would need to be registered with the DMV if I was renting the property it's on) is now almost 40 years old.

So if the entire structure was irreparable and needed to be replaced, I'd get a whopping $28,000 for the replacement cost. That would basically cover the cost to have a new structure delivered, and I'd still have to pay around $140,000 to purchase the new structure.

Sounds like a replacement policy would be in your wheel house.

[jimjamuser]

Originally Posted by bsloan1960

Link to story: Florida’s homeowner’s insurance crisis hits The Villages – WFTV

I just spotted this. Is anyone being affected by this / have ideas get affordable insurance?

Oh, Oh! I feel some squeezing of body parts going on! Maybe potential Florida residents will turn around and go back? We need fewer drivers on SR 441.

[DAVES]

Originally Posted by TSO/ISPF

Maybe the "Developer" can come up with a solution. They have a bank, why not start and insurance company?

An insurance company, you pay a company a fee to accept your risk. Homeowners insurance, if you do not have a mortgage you can choose to self insure-if there is a loss you pay the damage.

In terms of a Villages only insurance company, if it exists, I would hesitate to use them. A major localized situation and the company would not have customers outside a local loss area.

[DAVES]

Originally Posted by PurePeach

Progressive raised our neighbor’s renewal rate by almost double the precious year. She was told by them when she called it was because they’re getting out of the FL market by raising rates as their policies renew.

I would see an insurance agent and get a competitive bid actually that is a good idea with all insurance, We tend to think I've been a loyal customer for xxx years so they will give me the best rates. Reality is they give the best rates to new customers to attract them.

The law may be that they cannot refuse to sell you a renewal. It sounds like the company is saying, you would be wise to research and change to another company.

All insurance companies are great at cashing your premium. Paying out on a claim is often another story. You can research quality of service.

[OrangeBlossomBaby]

Originally Posted by Aces4

Sounds like a replacement policy would be in your wheel house.

The policy includes replacement. But since it's a nearly 40-year-old manufactured home that has no solid foundation beneath it, the replacement value is only around $28,000. I'm already paying more for my policy than most site-built homeowners pay for the same sized structure.

This is just how it works for manufactured homes. Many people don't bother to insure them at all, because they pay so much in exchange for so little. We may be considering the same in a few years.

[joshgun]

My Ho from ASI/progressive went up $200/20%, but my insured value went up a like amount. 16 insurance companies in the past year have filed for bankruptcy, pulled out of the Florida Ho market or are not writing any new business. Too low premium previously and not enough reserves to cover claims. Insurance is a cyclicsl business, like the economy as a whole. It has to get worse, before it gets better. My house is only 4 years old, do that is why my premium did not this year change dramatically.

[DaleDivine]

Originally Posted by villagetinker

We use progressive, bundled, home, auto, golf cart.

Yep, that's the same coverage we have.

[tophcfa]

Originally Posted by OrangeBlossomBaby

The policy includes replacement. But since it's a nearly 40-year-old manufactured home that has no solid foundation beneath it, the replacement value is only around $28,000. I'm already paying more for my policy than most site-built homeowners pay for the same sized structure.

This is just how it works for manufactured homes. Many people don't bother to insure them at all, because they pay so much in exchange for so little. We may be considering the same in a few years.

We made an offer on a manufactured home on Turnberry Lane in the Historic District over seven years ago. I looked extensively into homeowners insurance on the manufactured home back then and determined we would be better off just getting a cheap renters insurance policy that covered the contents of the home, but not the home itself. The premiums quoted us to cover the home were so ridiculously high for such a low replacement value we determined it would be a better risk to self insure. The value of the land, which abutted Paradise Lake, was probably worth 3/4 of the price we offered. In the end we couldn’t reach an agreement with the seller and it worked out for the best. We eventually found a site built home between SS and LSL which abuts a beautiful wildlife preserve and we got it for less than what we offered on the manufactured home.

[GatorFan]

Originally Posted by jebartle

Which sinkhole insurance???, Kin and all fla. Insurance covers general sinkhole coverage.

Policies in Florida include catastrophic ground collapse, not sinkhole. Huge difference. Sinkhole is an endorsement with an additional premium. Most companies have a 10% of your dwelling coverage deductible. Allstate has same deductible as you have for Fire, theft, lightning, windstorm (other than hurricane) etc. $500, $1,000 deductibles. No %

[mrf0151]

The value of our homes has gone up in most cases around 50%over the years living here. Naturally the insurance company has more risk, and this drives the rates up. Just like a more expensive auto will have higher rates. Insurance 101. You are welcome.

[nn0wheremann]

Originally Posted by bsloan1960

Link to story: Florida’s homeowner’s insurance crisis hits The Villages – WFTV

I just spotted this. Is anyone being affected by this / have ideas get affordable insurance?

Our 19 year old house in Marion County Villages was renewed for another year, less than $200 increase in premium. Farmers Insurance.

[jimkerr]

Originally Posted by tonyt57

No body scammed anybody. If one doesn’t need a new roof, the insurance adjuster and the insurance co can deny the claim.I actually had an adjuster soliciting roof work. When I called my insurance co they were fine with that, no conflict! The insurance co won’t lose, they raise your rates , the roofers are happpy, and the shingle manufacturers are happy that nobody is asking why a 30 year shingle needs replacing in 10 or 15 years

Wrong. The roofers scammed the insurance companies and all of the people who got “free” roofs were scammers as well.