[OrangeBlossomBaby]

Originally Posted by tophcfa

You can get a renters policy which will insure the contents of the home, but not the home itself. With a manufactured home, the value of your land is typically worth more than the home itself. We almost bought a manufactured home on Turnberry Lane in the historic section and that was our plan. Good luck.

I tried to run a google search for this, but the only things I can ever find is with regards to tenants who do /not/ own the property they're living in, and how landlords are not required to make a tenant have this insurance.

I can't find anything that allows a homeowner to have rental insurance, but NOT homeowner's insurance.

I've actually been considering this for over a year, so bringing it up here might be useful to me (and anyone else who's stuck with a dwelling that isn't worth as much as the contents within it).

[ElDiabloJoe]

Just like The Villages owns commercial property, sales agencies, escrow companies, a bank, a newspaper, etc., if they can find a way to make money off of it, OR if they can manage to draw more purchases, they may attempt to start an insurance company with limited coverage area (Villages homes only).

Maybe.

[Stu from NYC]

Originally Posted by ElDiabloJoe

Just like The Villages owns commercial property, sales agencies, escrow companies, a bank, a newspaper, etc., if they can find a way to make money off of it, OR if they can manage to draw more purchases, they may attempt to start an insurance company with limited coverage area (Villages homes only).

Maybe.

They are already insurance agents, figure they think that is better way to make money than being insurance company.

[mikempp]

Originally Posted by tophcfa

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (

Does anyone really believe anything that comes from the media anymore? If you do, I have a bridge to sell you. No surprise they are picking on Florida. If it we’re really so bad why is everyone moving here? And leaving the states that they praise?

[MidWestIA]

We have a long history with USAA I'm hoping if we stay with them no matter the cost we will be good in central FL - but good luck if you jump around

[JoelJohnson]

We had a manufactured home that the sub floors absorbed moisture and turned into mush (old fiberboard floors). I called my insurance company and they sent out an adjuster who, after a short visit, sent a report back to the insurance company that refused our claim. I had to rip out ALL the sub floors and replace them with 3/4 plywood. I had to hire someone to help me, but I couldn't leave the floors like they were. It was costly, but we ended up selling the house. At least I knew the floors were safe.

[fcgiii]

I have had USAA for almost 60 years. We have a 9 year old 2100 sf Designer home and our homeowners bill is $4000 per year.

[waterflower]

Turn off the H.A.A.R.P system.
Stop chem-trails
Defund weather modification

[Flyers999]

Originally Posted by MidWestIA

We have a long history with USAA I'm hoping if we stay with them no matter the cost we will be good in central FL - but good luck if you jump around

I wouldn't put too much stock into thinking that since you been with an insurance co. for a while, they will treat you better. There was one narrative going around here that the insurance companies are picking on their most loyal customers because they are least likely to leave them. I can imagine some algorithm they use that determines the rate hike which puts loyalty into the equation.
If Florida gets a hurricane, even though it may miss you, it will hit your insurance company. Hurricane Ian did $109 B damage to FL last year. The state gave them $1 B, which was a drop in the bucket. If that starts happening every year....
I think the solution is for the state to underwrite wind damage, which may mean a (gulp), income tax?

[nn0wheremann]

Originally Posted by tophcfa

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (

I had problems with a Tampa based insurer I will not name. More than doubled my premium after Irma. I fired them. I insure with Farmers. Even with the yearly rate increases they still are lower than the other company’s rate from five years ago. 20 YO roof is no problem. They inspected it, and based the rate on the fact-based risk.

[nn0wheremann]

Originally Posted by fcgiii

I have had USAA for almost 60 years. We have a 9 year old 2100 sf Designer home and our homeowners bill is $4000 per year.

I have a 20 YO designer, 2160 sq ft, hip roof which is original to the house. Renewal came last week, almost broke $1600. Farmers Insurance.

[PilotGuy]

One only has to drive down the interstate in Florida to know Florida has a problem concerning insurance. Every other billboard, television ad, etc. is an ambulance chasing lawyer. Between those and the hurricanes and the damage caused by them, Florida is in a bad place. As there seems to be no will of the politicians to do anything about it, one must assume they are in bed with someone who doesn't want it changed.

[MandoMan]

Originally Posted by tophcfa

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (

One good solution would be a two-tier policy where there is one price if you want to retain your right to sue the insurance company and another if you agree to mediation instead. We have a lot of lawyers with their faces on billboards in this state, and they pay for those billboards by taking a third of all the settlements. They have political clout because they and their colleagues make generous contributions to legislators.

[TerryCamlin]

Lots of folks will be denied sink hole coverage too. Noticed a very large one on Tuesday while playing golf on Sweetgum. Hmm do not remember reading about this anywhere in the Sun (joke but not). My friend I was golfing with said that the Orlando local news reported three new ones in the Villages. I have no idea where the other two are. Insurance is something we just have to deal with. Ivan was a Billion dollar loss for the insurance companies. Living in paradise comes at a cost unfortunately.

[toeser]

Originally Posted by Blueblaze

The solution to the roofing scams would be unbelievably simple to solve -- just treat a roof like the depreciating asset that it is. Why is that so hard to understand? You don't expect State Farm to buy you a set of tires for your Ford every five years; why do you expect them to buy you a roof every ten? Other states don't have a problem with this idiotic issue, just states like Florida that are run by lawyers for their own amusement, full of crooked idiots who think a "free roof" is free.

30 years ago, I had half of my 3-year-old roof blown away by an Oklahoma tornado. Allstate replaced that HALF of my roof. But in Florida, you can get a new roof if some scam roofing company finds a loose shingle, because all of these dumb insurance companies insist on writing these idiotic "full replacement cost" policies, and then paying on a scam rather than fight a crooked lawyer. Want reasonable insurance rates? Quit demanding unreasonable insurance policies and free roofs!

And I will never understand why insurance companies don't group similar risks, instead of making sane people who don't buy houses exposed to 12' storm surges pay for those who do.

The Villages ought to have the lowest insurance rates in the nation. More than half the homes are built out of concrete with steel studs, for crying out loud! ALL of them are built to withstand winds that have never been seen in this part of Florida. They are surrounded by an unbelievably extensive flood control system of ponds and pumps, and every single house is less than 5 minutes from a fire station. The nearest potential storm surge is 60 miles away!

And, yet, my Florida insurance is TWICE what I paid in Texas, from the same damned company, even though that house was exactly the same distance from the Gulf of Mexico, and WASN'T built to any hurricane standard. I went through three level 5 hurricanes and two tropical storms in the house, and the only damage I ever suffered was a blown down privacy fence -- because even those hurricanes were barely level 1 by the time they crossed 60 miles of land. During Harvey, I had 36" of rain in 48 hours, and the flood water was literally lapping the foundation of my house. It was a week before the roads cleared enough to go to the store. And STILL my insurance was HALF what I pay to insure this (much smaller!) Florida fortress, the same 60 miles from the ocean, but surrounded by an extensive flood control system!

I used to believe the old adage "never attribute to malice that which can be explained by stupidity". But the Florida insurance market has me rethinking that one. You don't get to this level of stupidity without an entire state full of stupidly corrupt people, dreaming up new ways to steal from each other!

I have one of those concrete block homes, but a huge oak fell on it during a hurricane. No roof will withstand that.