[GatorFan]

Most property insurance companies writing in Florida are not National. They are Florida only or write in 2-3 states. They are rated by Demotech.

If you currently have sinkhole coverage (even with 10% DED, any good agent will advise you to keep your policy instead of changing to a company that is not offering on new business) I tip my hat to the Allstate agent who was honest with you.

[twinklesweep]

Originally Posted by Cedwards38

Never fall in love with your homeowners or auto insurance policies. Always be shopping and always be ready to switch.

Originally Posted by Skybo

Just be aware that if you have sinkhole coverage now and change your homeowners insurance, you may not be able to get sinkhole coverage with the new company.

Originally Posted by samhass

I just found that out this AM. I called to upgrade our insurance because we are adding some space to the house. Then I thought I would shop the policy since we have been with TV insurance agency for seven years. WRONG. Allstate also told me this AM that they have not offered sinkhole insurance for three years AND advised me to stay where I am if I have sinkhole insurance already.

I feel painted into a corner with my homeowners' insurance through AAA South. I've had the same policy for about five years and cannot even consider changing? Why? Because I still have the original sinkhole coverage with a $500 deductible! Once the insurance companies get approval to end grandfathering, as I have no doubt they will, then I'm sure that'll change. Meantime, there is no way I can shop around....

[GatorFan]

There is no such thing as Grandfathering.

[perrjojo]

State Farm is once again offering insurance in Florida. It includes sink hole coverage,,,not just catastrophic ground collapse. The premiums are a lot more than Ark Royal but it is a larger, well know company.

[Villages Kahuna]

Originally Posted by sr1436

I just got my homeowner renewal for January and nearly fell over, a 26% premium increase. I have USAA and have been member for 35 years. Called them and they are saying due to across board rate increases. Reviewed my coverages with them and nothing exceptional. 26% increase is crazy.

Anyone else having like rate increases? Recommend other providers?

You must be a longtime Villages resident because USAA hasn't written any homeowners policies in Florida for at least eight years. I too have been a longtime USAA customer for both auto and homeowner's insurance. When I oved to The Villages, I was disappointed when I found that they would not write a policy. They told me at the time that they would honor those policies already in force, but would not write any new policies. At that time, there was no explanation.

Several years ago, I took the time to work my way thru the USAA heirarchy to get to the bottom of their decision. What it boils down to is that they place The Villages, and all of Florida for that matter, in an "unacceptable high risk" category. Two risks are at the heart of it--hurricanes and sink holes. Their underwriting department found it impossible to choose the parts of Florida where those risks might be manageable, so they have decided to simply not write any more insurance in the state. There are also some issues with regard to the insurance regulations in Florida which also underly their decision, but I'm less familiar with those. USAA is not the only major homeowner's insurance company that has withdrawn from the Florida market though.

I guess we can now see that their decision based on sinkhole risk might have been a wise one. And I'm not at all surprised that they are dramatically increasing their premiums, both to cover their costs as well as drive as many of their policyholders as possible to other companies.

It's a tough world out there and USAA is an extremely well-run company.

[Villages Kahuna]

I'm now remembering that I discovered another issue that lead to USAA not writing any new insurance policies in Florida. It has to do with the building code in Florida, particularly as regards construction standards for high winds and rain. Almost without exception, Florida uses the national building code as the basis for it's local codes.

USAA has decided that it requires a different code, designed for and most common in Texas, where USAA is headquartered. Florida has refused to embrace the Texas code, believing that the national code provides superior constructional integrity and protection against wind and rain. USAA refuses to accept that and that is yet another reason why they won't write insurance in Florida any more.

[twinklesweep]

Originally Posted by twinklesweep

I feel painted into a corner with my homeowners' insurance through AAA South. I've had the same policy for about five years and cannot even consider changing? Why? Because I still have the original sinkhole coverage with a $500 deductible! Once the insurance companies get approval to end grandfathering, as I have no doubt they will, then I'm sure that'll change. Meantime, there is no way I can shop around....

Originally Posted by GatorFan

There is no such thing as Grandfathering.

I spoke to my AAA agent late yesterday, who used the specific term "grandfathering" in reference to my homeowner's coverage. The renewal premium (homeowner's portion) will be $864.39, which includes a $500 deductible for sinkholes and a 2% deductible for hurricanes. I have a combined policy that includes vehicle coverage, and mine is a one-year renewal. My combined premium is actually down (believable?) by a few dollars, no doubt because of taking a defensive driving course. So I dodged the bullet for another year, thanks to grandfathering--but there is still no way I can shop around for new insurance....

[VillagesFlorida]

Originally Posted by sr1436

I just got my homeowner renewal for January and nearly fell over, a 26% premium increase. I have USAA and have been member for 35 years. Called them and they are saying due to across board rate increases. Reviewed my coverages with them and nothing exceptional. 26% increase is crazy.

Anyone else having like rate increases? Recommend other providers?

We just got our new annual premium notice for our homeowner's and auto insurance. The homeowner's portion went up 51%! We had a $5000 claim last summer for stolen jewelry while we were on vacation, but this seems ridiculous. This was our first ever claim on any homeowner's insurance in 55 years. We do not have sinkhole coverage. Coverages in the policy increased but nowhere near enough to explain this jump in premium. We are with AAA Insurance and will be contacting them for an explanation.

[helen lovely]

They did the same to us. Who did you replace them with? Thanks

[VillagesFlorida]

Originally Posted by helen lovely

They did the same to us. Who did you replace them with? Thanks

We haven't replaced our insurance with any one else yet. We plan to talk to AAA to get an explanation as to why such a huge increase. I do not expect them to change a thing, so no doubt we will be shopping around. $1100 seems very, very high for no sinkhole coverage on a 2 BR courtyard villa.

[Steve & Deanna]

We shop our insurance every other year. Tried to tell my parents that years and years and years ago. They took whatever they're agent handed them, complained about it but never did anything. Best to shop.

[perrjojo]

Originally Posted by Steve & Deanna

We shop our insurance every other year. Tried to tell my parents that years and years and years ago. They took whatever they're agent handed them, complained about it but never did anything. Best to shop.

Who knows? I may be wrong....It has happened before. ...My feeling is that you get what you pay for. Shopping around May get you a lower premium but it has been my experience that having a history with a company and particularly an agent is very important when you have a claim.

[Villages Kahuna]

Originally Posted by kaznerm

I just requested a quote from USAA about two weeks ago before all the sinkhole scares. They referred me to an agency in South Florida that writes all their policies. That agency quoted us a fair policy but it was with Tower Hill Insurance that seems to be a mediocre company based on reviews.

Who quoted your USAA policy?

USAA got so many complaints from long-time policy holders who couldn't get USAA homeowner's insurance when they moved to Florida, that they set up a referral service with an agent or agents who would sell policies offered by another insurance company. The policies are not with USAA, but are "arranged" by USAA.

Be careful.

[Ohiogirl]

if you are a USAA member, that if you go thru USAA to the "referred" company, that it will count toward your annual "kickback." It's not really a kickback, but whatever they call it, that is the effect. I think it's based on claims for the year, and CATs (hurricanes, tornadoes, etc).

Last time I checked with USAA, they said they could write it thru ASI, and when I asked if there is any advantage to going thru USAA, they said no, and specifically said it doesn't count toward the annual kickback.

[784caroline]

Originally Posted by Villages Kahuna

USAA got so many complaints from long-time policy holders who couldn't get USAA homeowner's insurance when they moved to Florida, that they set up a referral service with an agent or agents who would sell policies offered by another insurance company. The policies are not with USAA, but are "arranged" by USAA.

Be careful.

You are correct BUT I believe USAA will service any claims under those policies.....and if USAA is making the referal I would have some faith in the financial rating of that company to handle any BIG claim periods that may come by. Also if you are looking for something like an Umbrella policy USAA requires all policies to be under their purview. What that means is not necessarily written by USAA but written by an affliated agency which these companies are.

Believe me as a USAA member for 40+ years I have USAA homeowners insurance directly from USAA. Every year for the past 3 years I have complained to USAA (IN Writing) about the size of the rate increases and let them know that even though they are limiting their risk pool in Florida by not issuing new homeowner policies that they are placing a bigger burden on the older Veterans here in the state of FLorida.

I also tried to compare homeowner insurance rates between USAA and its affliated companies (ie ASI). USAA would not give me any information and if I left USAA I would be with ASI but not the USAA desk of ASI. During this conversation, I never heard how can we help you sir!!

USAA is walking a very thin line in FLorida when it comes to homeowners insuarnce.