[Michael 61]

Originally Posted by rogerk

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.

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.

[retiredguy123]

Originally Posted by Michael 61

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.

[Michael 61]

Originally Posted by retiredguy123

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.

[retiredguy123]

Originally Posted by Michael 61

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.

[mrf0151]

Originally Posted by Atamasco

Check out Travelers

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.

[Michael 61]

Originally Posted by retiredguy123

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.

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).

[margaretmattson]

Originally Posted by mrf0151

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.

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?

[Rainger99]

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

[Eagle06]

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...

[spinner1001]

Originally Posted by retiredguy123

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.

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
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Online Sunshine

[Kelevision]

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

[rmd2]

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.

[LLJorgs]

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!

[spinner1001]

Originally Posted by rmd2

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.

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).

[Catalina36]

Originally Posted by MrLonzo

I heard Farmers pulling out of homeowners insurance market. I checked Allstate and Progressive -- neither are writing new policies in the Villages. The one quote I got was double what I was paying in California for a much nicer house but in an area prone to earthquakes, wildfires, mudslides, and lots of crime. I always viewed TV as a safe place to live. What's going on at the Villages with regard to homeowners insurance? Is it really a gamble to self-insure when 3 years of premiums would pay for a new roof?

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.