[Will.S]

Are policies not being renewed caused by age of home, or Insurance company leaving Florida.

[Gatorfan1]

Originally Posted by Jim1mack

I like probably many others have been informed that your current policy will not be renewed.
The Villages Insurance is whom we went to to get our current policy on the home we bought new ten years ago. They have come up with one or two suggestions with whom we could use for a new policy. One is over $1k above our current policy, which they recommend, and the other has about the same premium.

Question: if you have had your policy discontinued, with what insurance company did you end up going with?

Call 352-245-2423. They will shop over 10 companies to get you best premium for coverage you want.

[EdFNJ]

Originally Posted by RickyLee

I did the same thing,..., wait till Year two 😡

My insurance has doubled in the last 2 years, We ahve a wood frame 2/2 and it Went from under $900 to $1400 last year and this year as of July 1, I am billed almost $1900. KIN quoted about $400 more and that was without (basic) sinkhole that Travelers gives. Be REAL careful getting quotes that you are getting EXACTLY what you had before. KIN not only didn't include full roof coverage (it was depreciated by age) in their quote full coverage was extra cost, but was missing a number of riders I currently have listed. Also Progressive was almost $1400 more. Last year Allstate was almost DOUBLE. Didn't bother checking them yet this year. Also have to remember home values have increased a LOT over the last years so that also leads to higher rates.

MOST important thing is to be sure you are quoting apples to apples. Lots of things get left out to lower price. If you are aware of that it's fine but often they just quote a price without total details

[Gatorfan1]

Originally Posted by EdFNJ

My insurance has doubled in the last 2 years, We ahve a wood frame 2/2 and it Went from under $900 to $1400 last year and this year as of July 1, I am billed almost $1900. KIN quoted about $400 more and that was without (basic) sinkhole that Travelers gives. Be REAL careful getting quotes that you are getting EXACTLY what you had before. KIN not only didn't include full roof coverage (it was depreciated by age) in their quote full coverage was extra cost, but was missing a number of riders I currently have listed. Also Progressive was almost $1400 more. Last year Allstate was almost DOUBLE. Didn't bother checking them yet this year. Also have to remember home values have increased a LOT over the last years so that also leads to higher rates.

MOST important thing is to be sure you are quoting apples to apples. Lots of things get left out to lower price. If you are aware of that it's fine but often they just quote a price without total details

Every homeowners policy in Florida by state law has Catastrophic ground collapse included in homeowners policy. Sinkhole is an endorsement that an additional premium is charged.

https://www.myfloridacfo.com/docs-sf...rsn=a4c83969_4

[kkingston57]

Originally Posted by Will.S

Are policies not being renewed caused by age of home, or Insurance company leaving Florida.

Both and hurricane potentialities and laws which allow attorneys/public adjusters to inflate claims and I am not referring to inflation.

[walterray1]

Originally Posted by Jim1mack

I like probably many others have been informed that your current policy will not be renewed.
The Villages Insurance is whom we went to to get our current policy on the home we bought new ten years ago. They have come up with one or two suggestions with whom we could use for a new policy. One is over $1k above our current policy, which they recommend, and the other has about the same premium.

Question: if you have had your policy discontinued, with what insurance company did you end up going with?

We received an unsolicited mailing from O'Quinn Insurance Services out of Ormond Beach regarding homeowners renewal policy. It stated some coverage numbers and estimated annual premium cost and invitation to call for free, no obligation quote. Has anyone heard of or have had experience with this company?

[Shipping up to Boston]

Originally Posted by kkingston57

Both and hurricane potentialities and laws which allow attorneys/public adjusters to inflate claims and I am not referring to inflation.

I understand what you’re saying.....but inflation is definitely a byproduct of your post as post pandemic construction materials have multiplied. Has to be factored in

[Rainger99]

This is for auto insurance - not home insurance. I can't see prices coming down ever!! The insurance companies lost $54 billion on auto insurance in the past three years! Perhaps it is those roundabouts!! It appears that the underwriting departments are not doing a great job!

In 2021, insurers’ personal auto businesses started recording losses. According to David Blades, an analyst for AM Best, the industry lost $4 billion in 2021, $33 billion in 2022 and roughly $17 billion last year.

[Shipping up to Boston]

This is a good watch on YouTube....on FL insurance....

Insurance Wars - Noble Public Adjusting Group

[ithos]

Originally Posted by Shipping up to Boston

This is a good watch on YouTube....on FL insurance....

Insurance Wars - Noble Public Adjusting Group

There war is not just with insurance companies but with the majority of policy holders who have never made claims but will have to pay for their lawsuits through increased premiums.

#free roofs

[Dave5]

We had USAA in NJ and they refused to pay a legitimate claim. Insurance is only as good as the company I guess.

[daniel200]

Florida is one of the states that allows your credit score to be used by insurance companies when writing homeowners insurance policies.

If you currently have your credit score frozen, then you should consider removing the credit freeze during the time you are looking for new policies.

[CoachKandSportsguy]

Originally Posted by Rainger99

This is for auto insurance - not home insurance. I can't see prices coming down ever!! The insurance companies lost $54 billion on auto insurance in the past three years! Perhaps it is those roundabouts!! It appears that the underwriting departments are not doing a great job!

In 2021, insurers’ personal auto businesses started recording losses. According to David Blades, an analyst for AM Best, the industry lost $4 billion in 2021, $33 billion in 2022 and roughly $17 billion last year.

distracted driving resulted in the majority of the increase.
since they had to increase rates through the state insurance regulator, it took time to get the rates lifted to now account for the general populations' obsession with phone fomo and driving directions, especially in a new place.

when driving your car with WAZE/GOOGLE MAPS in a new place by yourself, how many times and how long are you looking at your phone for directions?

Ever come across a really slow driver? check out his/her reading their cell phone because they just can't give it up. .

stupid hoomans

[tophcfa]

Originally Posted by CoachKandSportsguy

distracted driving resulted in the majority of the increase.
since they had to increase rates through the state insurance regulator, it took time to get the rates lifted to now account for the general populations' obsession with phone fomo and driving directions, especially in a new place.

when driving your car with WAZE/GOOGLE MAPS in a new place by yourself, how many times and how long are you looking at your phone for directions?

Ever come across a really slow driver? check out his/her reading their cell phone because they just can't give it up. .

stupid hoomans

There’s definitely that, and then there are all of these sensors in newer vehicles that are supposed to make the roads safer and save money. They have had the opposite effect, many drivers over rely on sensors rather than focusing on their own driving skills. Then there is the astronomical repair costs associated with all the sensors. A friend who owns an auto body repair business told me that when an older car gets rear ended it typically costs him about a grand to replace the bumper. A newer car typically costs him over 5 grand for the same replacement, including all the sensors and wiring. The extreme example are the very expensive Teslas. With only relatively minor accidents the insurance companies frequently consider them totaled because of the excessive repair costs.