Wow! If the insurance pays 71% to the attorneys and the underwriters, only 29% is going to homeowners - the people whose homes were damaged or destroyed. I don't know what it is in other states but that seems like they are paying the wrong people. I thought most lawyers get about 1/3 of damages. If Florida could get it where they are paying 60% to homeowners and 20% to lawyers (1/3 of the 60%), that would leave insurance companies with the remaining 20% - which I would assume would make writing insurance profitable.

Florida Chief Financial Officer Jimmy Patronis, who oversees insurance companies, says that Farmers is pulling out of Florida due to Farmers' woke agenda. Good to know that he is on top of solving the insurance problem in Florida.

Check out Travelers

To answer your question NO. Policy does pay for debris removal.

They are not writing new policies in Florida.

Insurance Quotes

Majority of the polices in Florida and other states are the same form HO 0003

Bet that 99.9999% of those roof claims, there was not any leakages after the "storm" caused the damages to the roof.

Attorneys in most cases do not get 1/3. Under the old Florida law, if an insurance company denies a claim and if the attorney proves that the insurance company should have paid the claim, attorney gets his legal fees paid, insurance company pays the claim including interest and insurance company pays their own attorney. Lose, lose situation for the insurance company

It's got nothing to do with hurricane risk to The Villages. There is none. How do I know?

I'm from Houston. I went through THREE hurricanes that were level 5 when they hit, in a house (Cypress, TX) that was the same distance from the coast as The Villages. The eye of one of them came directly over my home. The house I lived in was a frame house with brick veneer with no hurricane or windstorm rating whatsoever -- unlike your home here in The Villages, which is rated for 110 mph. You probably even live in a concrete block house that could easily withstand 200 mph.

What was the worst damage I had from 3 level 5 hurricanes, from 80 miles away? One of them blew down about 20 feet of an old privacy fence that needed to be replaced anyway. That's it.

That fact is, by the time even a large hurricane makes it over 80 miles of land, it's barely a "1". If I know these facts, you can be sure that your insurance company does, too. And by the way, how many hurricanes did The Villages experience in that same time period? One little level 2? Give me a break! I had a little tropical storm dump 36 inches of rain on me the year before I moved to Florida! And my insurance was HALF what I pay in The Villages!

We have insane insurance rates and no national options because if you're like me, half the people you know have scammed a roof out of their insurance company. Insurers are forced to write these idiotic "full replacement value" policies. It is literally an invitation to fraud. And we live in a state where people like us who have ZERO hurricane risk are forced to subsidize the vast majority of the population that stupidly lives within 10 miles of the beach.

Nothing will change until:
1. "Full replacement value" is outlawed
2. Prior scammers are forced to pay higher premiums
3. Insurers are forced to charge according to the actual risk and not allowed to use low risk to subsidize high risk.

The insurance market in Florida is one big scam. Nothing will change until that is fixed.

I've searched endlessly online but can't seem to find what is the most relevant data for making informed decisions about purchasing homeowners insurance at the Villages, what deductible to get, etc. And that data would include home insurance claims broken down by Florida county. It's obvious that coastal cities are more vulnerable than inland cities. For example, what is the average number of claims/10,000 houses in Sumter, Lake and Marion Counties vs. some of the coastal counties? And what is the average payout per claim? Of the recent most destructive hurricanes, what is the average claim here at the Villages vs. Florida in general? I'm not sure they want us to know that information because we're likely subsidizing other areas.

They told me they are not taking on new customers in this area.

The Villages is much less than 80 miles from the west coast. If you are so sure that there is 0 risk, why don't you drop your hurricane coverage and save money?

Just for fun I went to that site and they came up with a rate about $200 higher than my recent 7/1 renewal from travelers (in about 10 seconds). Thing is, like many other of these quotes they give you absolutely no idea what coverages you are or are not getting. No way to compare "apples to apples". Of course they want to immediately call you to sell you and I am sure then you will get the exact coverages plus all the options they will provide. Point is, just tossing out what one pays for insurance without what coverages they have and were quoted is totally meaningless. Like saying "I just bought a Chevy for $15,000." Means nothing.

Yearly when I check rates I make sure I get at minimum exactly the same coverage I currently have. Otherwise these tossed out online prices are useless. KIN is another one. They don't tell you their "default" coverage quoted online (at least as of last year) includes a DEPRECIATED VALUE for your existing roof, not full replacement value. A 15yr old roof would probably be depreciated by 80%. I'll bet 90% of those who get a price from KIN or even got coverage from them are not aware of that. It's a low-ball unless of course it is OK with the insurance buyer and they are aware of it. That may have changed recently but when I last looked it hadn't AND they were $100 MORE than my existing FULL coverage..

50 miles as the crow flies to Crystal River. So maybe if you take a direct hit from the eye of the storm that was a level 5 when it hit Crystal River, you'll see level 2 winds (96-110) when it hits your 110mph rated house -- but only if the eyewall hits you. And what are the odds that a 10 mile eye wall actually hits your house? About the same as a tornado hitting a house in Kansas (only with a lot less damage). It could happen. Probably won't.

Drop my insurance? Very tempted. It's something I consider on every insurance hike (100% this year!). I'm far more worried about liability, though, than fires or hurricanes. Know any companies that will sell standalone liability insurance on a house? Me neither.

Hurricanes, even category 1s, spawn tornados far from the center. If one of the tornados hits your house during a hurricane and you don't have hurricane coverage, you are out of luck.

I did go to the HH website and got a quote. You can get a more basic policy for lower premium. I'm wondering how responsive they would be in the event of a problem -- any experience with claims?

IMHO, it is almost always better to deal with an agent rather than get stuck with missing some detail or a wrinkle unique to the market here. Think about liability, lightning damage, not to mention mold due to the failure of your AC while you’re on vacation for two weeks … the list goes on. It is not just a new roof due to wind damage.

No claims. I've also never had a homeowners insurance claim here in Indiana. But every time I've called with a question I've talked to a person or got a return call the same day.

Then why did my insurance co. make me get a new roof if my roof was still functioning perfectly?

True of course. So you're saying that my house in Florida has maybe as much tornado risk as my house in Houston, but probably not near as much as my house in Oklahoma (which actually had the roof removed by a tornado while I owned it).

Now, explain to me why my insurance on my much larger, non-wind-rated homes in Texas and Oklahoma was a fraction of what it is on my current concrete block fortress in Florida.

And I would “vet out” the agent you use as well. Some are better than others. As a retired claims manager, I can’t begin to tell you how many insureds were surprised (or sometimes even misled) by what an insurance sales agent told them when they purchased their policy. So many agents unfortunately know very little about the exclusions/definitions/limitation/duties of the insured, that are detailed and found in the pages of the policy. We in claims had to be the “bad guys” and often explain to the insureds why something was not covered (though it was plainly stated in the policy, most insureds don’t take the time to read their policy cover-to-cover), and like I said, most sales agents don’t even understand the policy they are selling in full detail.

So far, I have not been impressed by the sales agents at Villages Insurance. Though nice people (mostly), the one’s I have worked with seem “under-trained” with their knowledge of the policy they are selling you. Beyond limits, coverages, deductibles, and premiums, they appear hard-pressed to respond to specific questions about potential exclusions within the policy. Just this past week, a Villages insurance agent answered my question regarding potential loss to my birdcage as “well, it appears that would be covered” - What do you mean appears? I don’t want an agent to “wing it” with me, and if they don’t know the answer to my questions, I would appreciate them telling me so, and that they would research and get back to me. I don’t want them guessing on something this important. When I asked about replacement cost in case of a “total loss” of my home, the agent said sorta snarkily, “You know everyone way over-pays for their homes in The Villages, and you can get the same home way cheaper in Summerfield.” That comment sorta came out of nowhere, and right there I determined to seek out a non-Villages agent. Luckily, as a retired claims manager, I can “vet out” my agent ahead of having a loss. I am now on the hunt for a good agent, who knows and understands the product he/she is selling.

You are asking for too much. Insurance agents are not really "agents" in the legal sense. They do not have the power to commit the insurance company to any legal obligation. So, basically, they are just salespeople. If you really want to know what is covered in your policy, you need to either read the policy yourself or hire a lawyer to read it. The insurance company doesn't care what the agent tells you as long as they sell you a policy, which is all they are paid to do. Why should they bother to train their agents to know what the policy covers? They do not represent you or the company.

Have to disagree with some of your post - I worked for a carrier, who’s sales agents were employees of the same company. If a sales rep misrepresented the policy to a customer (and can be verified) - then that became a “Claims Coverage Question” and had to be investigated. And often times, we had to respond to complaints made directly to the Department of Insurance by the insured. At times, we would have to afford coverage where it didn’t exist because of an error made by a sales rep, and we would then subrogate against them, through their “errors and omissions” insurance coverage. (This is west coast by the way, unfamiliar with Florida Dept of Insurance).

All good carriers train their sales force, you state “ why should they bother to train agents to know what the policy covers?” That’s a pretty cavalier statement. I personally would not purchase an insurance policy from someone who doesn’t understand the product they are selling you. As I stated previously, there are many agents who don’t know the policy they are selling, but there are some “really good” agents out there that fully understand and can explain the policy (usually sales reps who are former claims adjusters) - why wouldn’t you choose the most knowledgeable insurance professional for something this important? If that is not something you value, then you can ignore my entire post.

I agree that you should definitely seek out a knowledgeable insurance salesperson. But, I think the term "agent" is a misnomer. I once bought an Allstate auto policy from an agent who took my check, cashed it, and gave me a written insurance binder that stated that I had purchased a policy. But, 3 days later, after I had cancelled my old policy, the agent called me to say that the company had cancelled the new policy because he, the agent, had made a mistake on the application. Obviously, he was not a legal agent for the company. Try to get an insurance agent to answer a question, in writing, about a specific item that is covered in the policy. They won't because they don't represent the company, like a real agent would.

No, Travelers is NOT writing new policies in Florida. Our agent told us to never let this policy go, as we will never ever find one as good for the money.

Yes, we need to define “sales agent” and “sales rep” (sorta like real estate agent and villages sales rep) - in insurance, there are those sales personnel who work directly for a single carrier, and only sell policies for that specific carrier. They are employees of that carrier, and are accountable to that carrier for all their actions, and are hired (and possibly fired) by that carrier. Then there are independent agents that sell policies for multiple carriers (think Villages Insurance), and are employed by a specific agency owner, or self-employed (they are not employed directly by an insurance carrier).

It is the best for now. Insurance companies have no obligation to provide you with the exact same coverage once your policy expires. And, they do not have to renew you. Your policy is solid only until the expiration date. Once expired, you will have to sign a new policy with new variables. This is what the post is about, insurance companies doubling and tripling the cost with less coverage. Traveler's is no exception.

We now live in a place where home prices have increased significantly and the cost for a complete rebuild is high. The population has exploded that if a hurricane were to hit the Villages there would be billions of dollars in damage. (a sizeable amount of homes would be affected) Lightening strikes are common, some resulting in homes burning down. Claims for roofs are rampant. Homes are being built by dangerous, enormous electric towers. Plenty of sinkholes. All of this, and more, means higher insurance rates. Or, closing the doors and walking away.

It is only going to get worse. More homes being built means more expense for the insurance companies. Especially, with each home built only 5-8 feet apart. If you were an insurance company, would you be interested in offering protection?

Interesting article on the reason property insurance is so high in Florida.

The big reason Florida insurance companies are failing isn’t just hurricane risk – it’s fraud and lawsuits | FIU News - Florida International University

We have USAA and are paying less in TV than in Oklahoma. This issue with Homeowners Insurance here in Florida is the beating Insurers have taken over the past few years covering Hurricane Damage. You mention replacing a roof but can you afford to replace your home and personal belongings? If so, Self-Insure...

Much ado about nothing. They are agents with limited authority or ‘limited agents’ and have a defined line of authority to transact on behalf of an insurer.

They are indeed agents under Florida law.

Statutes & Constitution
:View Statutes
:

Online Sunshine

Seems like it’s going to get worse for everyone. Insurers withdraw from riskiest areas as threats from climate change grow : NPR

Is homeowners insurance generally for only roofs? I have a fairly new roof with a very good warranty. Do I need homeowners insurance for any other reasons.

The issue is with entire state not just The Villages. We have newer construction and our Progressive jumped 60%. Was able to get USAA quote but hurricane deductible was 10%. Decided to bundle coverages with State Farm (Kelly Matz on Warm Springs). Knowledgeable staff and nice to be able to sit down in person to fully understand what’s covered and not. There was a lot we didn’t know coming from IL just before the big hurricane hit last year. After that, we had lots of questions and her office spent as much time as we needed to go thru everything in great detail. We ended up with better coverage for close to same price. We’ll see what next year brings but very happy with them!

To your first question, no. It covers many things that you can easily learn about with an internet search. Your good roof warranty certainly won’t cover this that occurred recently (photo credit to the news website than cannot be said on this forum).

High Cost of Homeowners Insurance???
 

The high cost of Homeowners Insurance has nothing to do with The Villages except that it is in the State of Florida. The Villages is a great place to live. We are beach and ocean people but I purchased in T.V. because I did not want to deal with hurricanes along the coastline. The insurance companies want your annual payments but they don't want to pay for claims?? The State of Florida needs to step in and come up with a solution to this problem. There are many people in this state who are living only on S.S. and cannot afford to pay the high increase in homeowners insurance. I purchased in Central Florida to avoid the problems of living along the coast but it seems that it is a problem even living in Central Florida.

Just because you have a new roof, doesn't mean you are safe from windstorms (as spinner indicated ).

Besides windstorms (by hurricanes, tornados, etc.) homeowners' insurance also typically covers : fire, smoke, explosions, liability, lightning, hail , theft, floods, sink holes, vandalism, damage from vehicles, damage from aircraft, riots, civil commotion, and volcanic eruption.

You can get insurance for all those other things besides wind very reasonably. Just tell your agent that you want to self-insure wind damage.

The bulk of your policy premium is for wind damage. There wouldn’t be an issue if they stopped writing coastal Policies and required flood insurance near any body of water.

The 100 years flood designation is obsolete

Right. Just read a Tampa article about State Farm - largest insurer in FL next to Citizens. State Farm says they're going to stay in FL... but I'm not counting on that. Their exposure is huge and they've been restricting new homeowner policy writing for over a year.
KNOW THIS - Homeowners in FL are now on the hook big time for Citizens (the state insurer of 'last resort' - Citizens is well over the exposure limit that they can cover. In the event of a large claim event (hurricane etc) EVERY FL homeowner will pay the claims. Yes - all of us. What's the deal with our politicians? total mess - all parties should be working to fix this.

Well, after all my grousing about the crooked Florida insurance industry, it appears that at least one out-of-state agency has noticed, and is providing an alternative, while cowards like Farmers respond by running away without ever discovering that The Villages is not a suburb of Miami.

After forcing my agent to shop my policy (which they have resisted), they came back with a bunch of even more astronomical quotes from practically every Florida-based company there is. About half of them flat-out refused to quote it because the roof was 15 years old (in flagrant violation of the 2021 insurance law). Being a seasonal rental, none of the national brand names will touch it, of course, so they weren't listed.

There was only one brand missing, which seemed odd because I was under the impression they were Florida based -- Kin. So I looked them up on-line and discovered that, not only are they not based in Florida, I didn't even need an agent to get a quote. In about 10 minutes I had a quote for BETTER insurance than my American Integrity policy (it actually covered my roof!) for HALF the price! They let me raise my deductible to $5K (which only saved $100 at A.I.) and let me choose a depreciating value on the roof. I was also able to choose a reasonable reconstruction value for the house instead of them insisting on the Zillow market value, as if I'd be stuck re-buying the lot if a tornado wiped it clean. In other words, they let me choose exactly the same kind of policy I've had for the 40 years that I was a home owner before moving to Florida. And I didn't have to beg some salesman to give it to me.

I was so tickled that I quoted my other home and saved myself another 50%!

Link??