[Russ_Boston]

Originally Posted by Chi-Town

I have ASI coverage for my Designer model through the Villages Insurance. July '09 - $1300. July '11 $1800.00. Same coverage, no claims. Hardly in keeping with the inflation rate.

Even the $1300 seems high. Any idea what that was out of line to start with?

Do you rent the house out?

[kentucky blue]

Originally Posted by Chi-Town

I have ASI coverage for my Designer model through the Villages Insurance. July '09 - $1300. July '11 $1800.00. Same coverage, no claims. Hardly in keeping with the inflation rate.

That does seem really high, our Designer through Village Insurance is under $1000.00, and we have the deluxe package with house insuranced for over$300,000.I know the insurance companies use lots of statistics to figure out individual premium rates, plus renting your property has to increase premium.

[The Shadow]

I do not think people are considering that two identical polices with the same insurance company with the only difference being the “Deductable” will result in a big difference in annual rate.

When comparing premiums on a $300,000 home one must consider, do both have or not have sinkhole coverage, flood coverage, and deductable amount. Any one of the three can make the premium vary hundreds of dollars.

Sinkhole coverage and flood coverage do cost extra.

[rubicon]

I am furious. Last year my rates went up an additional $800. so I dropped dwelling coverages and did a hefty increase for my hurricane and general deductible . It brought down the rates to just about what I had previously paid. Now my annual renewal shows up and the rate went up an additional $750. i called State Farm and they claim that the hurrican exposure is equal to that of the coast. i explained that we had a weather guy visit our state club a few years back and he made it clear that a hurricane coming inland was negiligble. He stated if you weather was a big factor when considering a move central florida was a good choice.

So it means that in one year State Farm increased my premuim some $1,500. I carry all my insurance with them and have high liability limits and high deductibles on all of my policies, including my golf cart insurance. This is just outrageous I have a designer approx 3200sf. There is just no justification for these hikes.

I suspect State Farm threatened the Insurance Department that they would pull out if they did not get their way.

State Farm is forcing inlanders to pick up the cost of those multi-million dollar homes being built along the coast. I suspect it is so because the people living in those homes have more power and better connections than people in TV. I beginning to believe that I can't afford to live here anymore.

I do intend to writ the Insurance Dept and I do expect the Insurance Dept will ignore my letter

[Bill-n-Brillo]

rubicon -

If I were in your shoes, I'd be freaking out as well. However, as I was reading your post and came to the part about you stating your coverage is with State Farm, I understood why your rates are escalating. When Sandy and I were looking for homeowners insurance for our new-to-us PV late last year, we encountered the "not writing any new HO policies in Florida" dilemma. Here's some insight on the rest of the story:

http://www.msnbc.msn.com/id/35220269...thousands-fla/

http://www.miamiherald.com/2011/02/1...omeowners.html

I believe State Farm has all their existing FL business set up under a separate business entity and are working to make that business stand on its own, ie. they're not spreading their FL losses across other parts of their corporate structure. Hence the financial 'Catch-22'.....

I'd suggest you shop for another insurer. We had to - - - and we've had all our insurance (in OH) with S.F. for 35 years.

Bill

[Schaumburger]

So I guess SF's motto for Florida homeowners should be "Like a not-so-good neighbor, State Farm will charge you $$$$$ to be there" And I've had SF for all my insurance for 27 yrs.

[Chi-Town]

Originally Posted by Russ_Boston

Even the $1300 seems high. Any idea what that was out of line to start with?

Do you rent the house out?

The $1300.00 was in line with my old policy up north, so when I moved to TV I didn't think much about it. I have $500.00 deductible on the general policy and the hurricane coverage. I have sinkhole coverage also. BTW, the house is a seven year old block and stucco. Just received the bill and am calling the agent tomorrow.

[Bill-n-Brillo]

Schaumburger -

Yep, that's kinda the feeling we had too when we found out about the 'no new HO policies' dealie-do!

Keep in mind, though, SF is still writing new policies for everything else they've traditionally insured in the past. We got our golf cart insured with them - no problem-o.

Bill

[rubicon]

Originally Posted by Bill-n-Brillo

rubicon -

If I were in your shoes, I'd be freaking out as well. However, as I was reading your post and came to the part about you stating your coverage is with State Farm, I understood why your rates are escalating. When Sandy and I were looking for homeowners insurance for our new-to-us PV late last year, we encountered the "not writing any new HO policies in Florida" dilemma. Here's some insight on the rest of the story:

http://www.msnbc.msn.com/id/35220269...thousands-fla/

http://www.miamiherald.com/2011/02/1...omeowners.html

I believe State Farm has all their existing FL business set up under a separate business entity and are working to make that business stand on its own, ie. they're not spreading their FL losses across other parts of their corporate structure. Hence the financial 'Catch-22'.....

I'd suggest you shop for another insurer. We had to - - - and we've had all our insurance (in OH) with S.F. for 35 years.

Bill

I am familar with the fact that State Farm operation here in Florida is its own profit and loss center. However, what they may lose in profit for property theygain hefty in all other lines.

[Mudder]

We are happy to have insurance whatever the cost....our house had a direct hit with lightning last Weds. evening. As a result we have many new items and still finding more things that are not working, still have a 4 foot square hole in the roof over garage that the firemen had to make to take care of smoke and smoldering wood. Insurance guy was here, took info, will put in request for financial assistance. If initial check does not cover we submit to get further financial asistance, minus the deductible of course. Roof will be biggest expense, but all the electronic small stuff adds up fast as does all the food that had to be thrown out. It has all been a hassle, but no one was injured and we were only out of our house for one day. The amount the insurance company will be giving us is way more than several years premiums. So, I guess the moral of this story is just pay the insurance you never know when you'll really need it!

[duffysmom]

Mudder, I'm curious about your home. Is it all electric or is it gas. Our home has gas and I'm unhappy with the gas line being in the attic. Obviously your home did not catch fire or if it did it wasn't a total loss. The last couple of years a few homes went up in flames after a lightning strike and were a total loss. Another question if I may, do you have lightning rods. That is a controversial subject and one that I've debated for some time. The lightning strikes in central Florida are awesome and something to behold; evidentially we have the most lighting strikes of any place in the country. Thanks and good luck with your recovery. Now back to the topic, I agree that insurance is extremely important.

[Mudder]

Our house is all electric, I happen not to like gas, never had it in any house we've had. Just my personal choice. Lived in Tampa for 13 years, have seen lots of big lightning and heard lots of ginormous thunder, but this one took the cake ! The firemen said that it was lucky we were home, when the house is vacant it sometimes is to late by the time the neighbors are aware of anything. Sorry I can't help with any gas questions. And no, our house doesn't have any lightning rods, but we're considering it now. By the way we live in El Cortez so the house is 19 years old. We were told by neighbors that this house had another direct hit about 14 years ago in just about the same place.

[Bill-n-Brillo]

Mudder, your upbeat outlook on your situation is refreshing! Hope the repairs, etc. all work out well for you with minimal hassles - - -

Bill

[duffysmom]

Thank you for answering my questions Mudder. I guess lightning can strick twice in the same place. I too admire your upbeat attitude and wish you the best.

[2BNTV]

Mudder:

WOW! Great attitude. I hope everything works out for you.