[DAVES]

Originally Posted by stebooo

Rates are kind of hard to share not from a standpoint of privacy but of the differences of homes that are being insured. I was advised last week from my mortgage holder that I didn't have insurance because it was canceled. In my investigation I found out that my insurance company last year changed their rulings on what roofs they were willing to ensure and and if in excess of 10 years the policy was canceled no notice no nothing. Rough is approximately 16 years old and so far my insurance will have gone from about 775 to 1400 That's a 100% increase. I guess it's welcome to Florida

It is not just Florida. Our previous home, they cancelled our home insurance due to other homes and hurricane damage. What they did was to draw a line on a map and dropped all homes below a certain street. The hurricane damaged homes were roughly a 1/4 mile closer to the water. The best thing to do is when your policy is close to expiring shop for a replacement with different companies. I don't recall but the new policy was about what we were paying before. As we were getting ready to list our home and sell it, I would not consider self insuring with brokers, and buyers coming and going.

[Lil GTO]

Just moved into our retirement home in TV and State Farm covered the home with sink hole coverage in addition to all the normal coverage for $1,100.00 with much lower deductible than we had with villages and their premium was $366.00 higher.

Originally Posted by 2BNTV

I'm just curious if anyone has experience a dramatic increase in home insurance rates due to the inordinate amount of claims due to hurricane Irma.

I was quoted a $1913 rate, up from $1173, That is a 63.4% increase.

I was also informed some insurance companies have gotten out of the home insurance market!

I was wondering if anyone is willing to share their insurance rates and with whom they have their insurance with.

Thank you in advance for your replies.

[kathyspear]

We have Cabrillo Coastal purchased through Allstate. Bought the house almost 2 yrs ago, put on a new roof right after closing. House is about 2650 sq ft.

Premium in July 2019 was 1308. July 2020 went up a bit to 1448. Just got the invoice for this year = 2220. Explanation on the invoice is "approved rate increase". Replacement coverage for home and personal property were also increased (about 6%).

We went with them for the sinkhole coverage. Any other companies offering that?

kathy

[C. C. Rider]

Originally Posted by RETIREDSFW

$418.32 annual premium.

That seems extremely low to me. I wonder what they left out?

As others have said, it depends on what you are insuring, and on what coverage you are getting, and on how much of that coverage you're getting.

I haven't seen annual homeowner's insurance rates that low in 40+ years, but again, the devil is in the details. You might want to read your policy real carefully to see just what coverage you're getting and what the exclusions and deductibles are. Better to find out now than after you have a claim.

[Gabi12]

Originally Posted by 2BNTV

I'm just curious if anyone has experience a dramatic increase in home insurance rates due to the inordinate amount of claims due to hurricane Irma.

I was quoted a $1913 rate, up from $1173, That is a 63.4% increase.

I was also informed some insurance companies have gotten out of the home insurance market!

I was wondering if anyone is willing to share their insurance rates and with whom they have their insurance with.

Thank you in advance for your replies.

Check with AAA for insurance.

[Sabella]

Originally Posted by DAVES

Fair? What is that? Insurance, unless you have a mortgage you do not need to have home insurance for fire, storm damage etc. You can choose to self insure. It there is a loss you will pay for it. Choice and responsibility.

Far as insurance, it is a numbers game. I've been with the company for ????? years and never had a claim. You probably should shop for comparative quotes. Again it is a numbers game. Loyalty is valueless in fact it likely costs you. Asking for a quote from a different company, they know you are shopping for some reason. Usually PRICE.
You will likely get a better price because they want a new customer to replace other customers who may have gone to the company you now have.

Check out any company you consider. They are all great at taking your premium. Paying on a loss-you can and should research that. After all that is what you are buying-paying for,

I never mentioned fair, self insure ridiculous, never mentioned years with company, house insurance claims as well as your credit score will effect what you pay, every few years as a general intelligent consumer I shop around regarding all my insurance costs keeping in mind same adequate coverage and rating and stability of the insurance company I am considering. Everyone likes to complain too bad they don’t do it where it might matter . Start complaining to politicians and Florida attorney general maybe nothing will happen but sometimes there is power in numbers and it’s actually doing something constructive.

[kathyspear]

Originally Posted by RETIREDSFW

I just recently got my bill which was for $2100. My neighbor advised me to call Farmers Insurance in Ocala. I talked to Lieah at Brian Knight agency 352-502-4568 and after getting a wind mitigation report and a four point inspection from Eddie Barnes 352-255-7147 ($150.00) my new policy is $418.32. Tell them that I referred you to them.

I contacted Brian Knight (Farmers in Ocala) for quotes on homeowners, auto, and umbrella coverage. Auto and umbrella policies would each be about $100 more with them but homeowners would be $1500 cheaper than with our current Allstate/Cabrillo Coastal (after we pay for a wind mitigation and 4-pt inspection). However, they won't give us sinkhole coverage.

I just did some research to refresh my memory about the difference between catastrophic ground cover collapse and the broader (optional, if offered at all) sinkhole coverage. I'm really uncomfortable at the thought of going with the former rather than paying for the latter.

sigh.

k.

[Babubhat]

Originally Posted by Sabella

I just received my house insurance renewal with Cabrillo coastal thru the Villages which is due in July. The price went up $775.00! I never made a claim or got a new roof my house is 11 years old and the original roof was an upgrade. This seems to be going on throughout the villages. . I beg everyone in the Villages to call, e mail or write to Governor DeSantis office to complain and ask for an explanation. A small price increase is acceptable but this is beyond outrageous to do to seniors where most of us are on fixed incomes. If enough of us contact the Governor maybe something will be done. The governor might not be aware of the excessive amount of increases the insurance companies are charging us.

New insurance law was signed two weeks ago. We shall see if it actually reduces rates.

[nyclicker]

We have Progressive/ASI. Rate increased 30% on Jasmine model 1600 Sq Ft. Breakdown was
Home $620 Hurricane coverage $493 Sinkhole coverage $253 Total$1366

[RVJim]

Originally Posted by Sabella

I just received my house insurance renewal with Cabrillo coastal thru the Villages which is due in July. The price went up $775.00! I never made a claim or got a new roof my house is 11 years old and the original roof was an upgrade. This seems to be going on throughout the villages. . I beg everyone in the Villages to call, e mail or write to Governor DeSantis office to complain and ask for an explanation. A small price increase is acceptable but this is beyond outrageous to do to seniors where most of us are on fixed incomes. If enough of us contact the Governor maybe something will be done. The governor might not be aware of the excessive amount of increases the insurance companies are charging us.

oh come on, you want government price control on insurance rates because you are a senior on a fixed income? If you can afford to live in TV then you should be able to pay the freight to insure your property. If you can’t, might I suggest senior housing where your rental rate is based on your annual income.