[DavidK]

After reading the discussion on home insurance rates rising, I got to thinking, why have roof installations gotten so expensive? In my younger years, I built 10 homes in Ohio. I shingled all of them myself with the help of buddies. It was hot but was not too hard to do. The worst task was to get the bundles up onto the roof from the pallet on the ground. Well, the costs of materials, delivery, and labor all have risen over the years. Even the delivery truck and conveniently place the shingles onto the roof. The efforts in replacing a roof are hard work especially getting the old materials torn off and in the trash. Most people cannot do their own roof because of the steep pitches. When homes had 8' room ceilings, the pitch was easier to kneel or sit on but now with 10', 12', and 14' room ceilings in homes, the roof pitch has become much steeper. The steepness adds labor costs and puts a good bit of wear and tear on the knees and ankles.

[Battlebasset]

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!

We have a winner. If it is determined that the life span of a roof is 20 years, and it is damaged and requires an entire new reroofing at 15 years you determine the cost to replace, divide by 20, subtract 15, and this is what you get. Over 20 years old? You get nothing except debris removal.

[kkingston57]

Originally Posted by nn0wheremann

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.

Farmers just announced they will not write new policies in Florida. Less competition=higher prices.

[Pairadocs]

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 : (

All of those stats and percentages pretty much line up with all the other sources I've read in various articles in a number of publications. Do be CAUTIOUS about replacing your 14 year old roof, sister in law and hubby who live here too, did that, cost them $18K in total, new gutters, roof, etc. and.... their PREMIUMS were raised in less than 6 mos. Reason given was unbelievable ! ! Told, it was due to the value of the brand new roof, gutters, and downspouts, woman on phone said it was like a brand new car, that can not be insured at the same rate as an old car ! HOW ILLOGICAL, talk about apples and oranges ! On the bright side, we have family in other states who pay $8K in property taxes on a much SMALLER house than ours here that is under $3K in property taxes. They (or relatives) pay income taxes of course, but ALSO PAY STATE income taxes, and... believe it r not, they pay taxes on FOOD and medicine too, things that are absolutely essential to life, taxed ? So, yes, Florida really gets socked for home owner's insurance, but there are even worse places !

[ChrisTee]

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.

Have you filed a claim? That sounds exorbitant. We've had USAA for 2 years, 18 year old 1700 CBS home here with *full* sinkhole coverage (not just catastrophic like most folks). Renewed in May for $1710. When we purchased this home 2 years ago State Farm wasn't even writing new homeowner policies in FL - they had suspended any new homeowner policies because they were trying to reduce their risk/ exposure.

[ChrisTee]

Originally Posted by Flyers999

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?

Thank goodness there are other viable solutions - I for one don't want every resident paying to insure my homes. If I can't afford my homes then I'll sell them. I pay for my home, you pay for yours. Here's another option:

#1 our state office of insurance regulation - the Florida Office of Insurance Regulation needs do a much better job. #2 Politicians who don't understand the system and ramifications of creating policy need to STOP writing laws and regulations that create unintended consequences. Our politicians write shoddy laws with loopholes and stopgaps. = FL Homeowners pay insane insurance premiums because attorneys and claimants get outsize awards in FL. We have many poor laws & regulations governing FL insurance that were created by unqualified politicians + self-interested attorneys. All our regs should be designed with and in conjunction with FL office of Insurance Regulation and that office should be accountable to FL citizens.

[PugMom]

Originally Posted by OrangeBlossomBaby

We have a manufactured home with a metal roof. We'll -probably- just not have homeowners' insurance next year, if the next year's rate goes up.

i don't blame you, & aren't metal roofs able to withstand storms better?

[tophcfa]

Originally Posted by PugMom

i don't blame you, & aren't metal roofs able to withstand storms better?

They are preferred by many up north for several reasons. Snow slides off them, no ice dams causing water to pool and go under shingles causing damage, they sound of rain hitting them is nice and considered relaxing (sounds like rain hitting skylights), they are very easy to install on homes with basic/simple roofs like A frames, and they are the last roof you home will ever need. However, they can be dangerous. Snow slide diverters need to be installed on the roof over doors and other areas where a snow slide could injure or kill somebody.

[Larchap49]

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!

Thank you for a very concise and sadly a very accurate description of how the insurance industry works in FL.

[JGibson]

Just got my renewal. $300 increase and I submitted a claim and got a free roof last year.

No complaints here.

[C. C. Rider]

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!

Great post!

[champion6]

Originally Posted by tophcfa

<snip> Since 2020, the average home premium has increased 100% <snip>

Since 2020 my premium increased 140%. Cottage home built in 2011.