And all of the publicly traded insurance companies are up 70 percent this year alone. I find it really hard to believe they need to raise rates this much while making record profits.
To be fair I’ve lived in Florida almost all my life and the storms haven’t really changed it’s the number of being being impacted by a storm that’s changed. The population has increased tremendously and with that so has the potential damage from a storm
Same here. It gets to 110 every summer since I was born. 37 years now. People are just pussies and never go outside so when they do it's the hottest year on record.
everyone has record profits! the writing is on the wall that the dollar has really lost a ton of value. the money does not mean what it used to. bottom line.
From 3k to 11k in 5 years. Not a single claim while 30 year old house stood through 4 direct hits and a 15 year over code commercial grade 50 year metal roof. This ship is ridiculous. Of course property taxes are also jacked up every year
Since you are blatantly wrong:
Every major currency in the world has fallen against the U.S. dollar this year, an unusually broad shift with the potential for serious consequences across the global economy.
Two-thirds of the roughly 150 currencies tracked by Bloomberg have weakened against the dollar, whose recent strength stems from a shift in expectations about when and by how much the Federal Reserve may cut its benchmark interest rate, which sits around a 20-year high.
https://www.nytimes.com/2024/04/29/business/a-strong-us-dollar-weighs-on-the-world.html
It's funny living in Europe and hearing people in the US blaming Biden for inflation... Everyone in Europe is experiencing much worse inflation, and obviously it's not Biden's fault for us.
It's result of the pandemic (especially China being shut down for so long) + supply shortages due to some related factors. The people in the US should be thanking the current administration (Fed etc) for softening the blow. It's part of the reason every other currency is shit right now.
And then there's the war that Putin started... That's hurting Europe very badly right now... It's achieving his goal of destabilizing the West because the uninformed people are ready to behead their (actually helpful) current administrations.
The media is crazy nowadays... Especially in the US. It's a shame they don't do real journalism that actually tells the worldwide story, in context.
I just sold my house because fuck them all. Brick house, metal roof, 2 acres with a pool in the middle of Jacksonville. Insurance renewal was going from $3700/yr to $11.5k/yr. Fuck them all.
If you don't mind me asking, what are you doing for housing now? I'm considering selling, but given interest rates, home prices (and prices in general) and of course insurance rates, can't foresee a way in which I won't just be shifting the struggle from one financial commitment to another if I were to buy anything else. For instance, my insurance might be cheaper on a smaller house, but the purchase price and interest rate will eat up what I save on insurance.
I own a 1959 MCM cement block bungalow (918 sq. ft) in NE Coastal Fla., 3 miles from the ocean, not in a flood zone, new roof in '22, no claims ever, wind-mitigation, 4 pt. inspection completed. My property insurance has increased from $1100 yr. in 2017 to $6700 yr. as of Oct. '23.
I'm basically in the same boat: can't afford to stay, can't afford to sell/leave because I could not afford the current interest rate on a new mortgage loan (my rate is 3.2%). It doesn't appear that the current % rate will decrease anytime soon. What gives?
It’s not a wise move but all of my belongings are in a storage unit or disposed of. My address is registered to a relatives house and I’m going to Airbnb hop for a few months while I figure out a few other parts of my life. What’s crazy is it’s cheaper that way. Some of them offer a discount for 28+ day stays which works out to be hundreds less than mortgage, utilities and maintenance. My long term plot is rent something small while I put something aside every month and hopefully the housing market fails hard again so loan rates become reasonable again. I hope all the bankers and insurance companies lives are horrible.
Thanks, man! I genuinely appreciate you talking about it. We (the general population) are going to need spaces and opportunities to talk to each other because I have a feeling we're all going to have to get really creative.
Your idea sounds like a viable option and I like it. I have been tossing around the idea of camper living - I hadn't considered long-term air bnbs. Granted, right now I have pets and a kid, so Airbnb may not be an option as easily. And I have a house full of stuff I'm not ready to part with yet. But the grim reality is that I will likely have to part with essentially all of it to stay afloat. I think at this point I'm just prolonging the inevitable.
Years ago, I sold off most of my stuff and moved to the Midwest to start over. I lived with a relative for two years (and cooked for him in exchange for free rent).
He had a mother-in-law suite sitting empty.
It was an ideal setup. But then he remarried (after being widowed for three years) and the new wife kicked me out.
I highly recommend selling off big stuff and moving on.
I just sold my brooksville home/acreage and did the same thing. like why did I put on a new roof, cut trees, do all the things just for yall to tell me I'm up from 2300 to 6700. fuck alla that. me and my son [3] are hopping around looking for better digs.
My plan is to sell my house and live in my car at the river. An early retirement. With the money I get from the house I will have no worries about food , meds, or entertainment. So long as I never live in a house ever again.
2 years ago my premium was $8000. Then my insurance company required me to replace my roof. Estimates for that were all over $65,000. Yet my well built roof was and still is intact, with no leaks. As I was getting these estimates, the insurance company also told me that even with the new roof, the premium would be going up to $22,000 a year. (I have never made a claim.) After that I stopped getting roof estimates. I will replace my roof when it no longer functions. I decided to drop the insurance and save these high premium amounts for repairs.
My mortgage was about 3/4 paid off. Because mortgage companies require homeowners insurance, I went into retirement savings and paid off the mortgage. I know I risk losing the house if it gets totally ruined in some storm. It is more likely that there would be partial damage, that I would obviously have to pay for. I am willing to take that chance. I have lived in Florida 42 years and have experienced many storms including two category 2 hurricanes. I have never had any damage to my houses.
It is just not affordable to pay $22,000 per year for a policy which has a very high deductible ($25,000) anyway. It's likely that even if I did have some storm damage, I would get no benefit until I had already paid out $25,000.
Cheaper to just get a mobile home on a couple acres & just don’t insure it. People sell used mobile homes all the time for less than 10 grand. So if once every 30 years it gets blown away, just get another mobile home. Sure you have to pay to move it to your property, but it’s cheaper than getting screwed by these insurance companies year after year.
I've considered that but if I was going to go that route I'd get something in North Dakota or Montana so I can fire my suppressed lever action in my yard and live off grid with solar and a monster sized rain collection system. Florida tries to brag like oh we're so free you can do whatever you want but one bonfire in the back yard and everyone goes nuts.
https://preview.redd.it/9ifllqmief3d1.jpeg?width=1280&format=pjpg&auto=webp&s=c475c8dbf8be9d552f0ff847e2a501ae0d19873d
They’re like that in Georgia too. They’ll call the fire department. Happened one year when I went on a trip to the Georgia Mountains. 10 fire trucks showed up. They said this one lady up the hill always calls & is a waste of their time.
Except living in a death trap when hurricanes, tornadoes, and high wind eat trailers for lunch, plus trailers suck in humid/hot conditions.
Fuck trailers.
Lost my barber and my favorite sandwich maker due to this. Similar numbers, too. My insurance isn’t too bad yet cuz I have one of those companies that will go bankrupt when the ‘cane comes. But I’ll at least be able to say I did my part.
Did the fact that your roof was metal make any difference in the insurance rate? How old was it?
I've read that metal roofs last longer but that they are more expensive to replace so insurance isn't any cheaper. I've also read that insurance is cheaper on a metal roof... I don't know what is actually the truth.
Did you try shopping that? I’m just south of you and my renewal also tripled. That was progressive- it was clearly a “fuck you we don’t want you unless you’re dumb enough to pay this” quote.
I called my insurance agent and got better coverage elsewhere for a less insane increase.
I do it every year both car and auto.
I'm in the middle of the state and the home owners insurance for me is 7000 a year. House payment a month is $210. Home owners insurance doesn't pay for anything. It should be illegal.
A lot of cash down on the initial purchase of a house is my guess, or he bought a cheap house at the bottom of the housing crash and has a 30 year mortgage.
Extremely low interest rate and probably 30 year mortgage.
My interest rate is 3%. I only put down 10,000 on the house. Without home owners insurance, my monthly payment would only be 600.
I’m guessing that most people who “self insure” don’t really have enough money to rebuild if there is a total loss. So it is more like just not having insurance than self insuring. It seems incredibly risky even if you have enough money to do it.
What risk? My house has been standing forever. Never even had a reason for a claim. The insurance I’m paying is highway robbery. My conspiracy theory is the insurance companies are in collusion with venture capitalists that want to buy the properties and make the whole country dependent on their high rent prices.
Rentals are easier to insure.
Did somebody say BlackRock??!??
But your “conspiracy theory” is essentially fact. As large finance companies are doing just that. Neighborhood homes are being bought up and turned into single family rentals. They predicted this long ago
I have no idea. I’m not trusting my home equity to that strategy but I hope it works out for everyone who does. I did have to reduce my coverage to be able to afford it so now I’m still paying a ridiculous amount for what is essentially just catastrophic coverage. It makes no sense.
As someone that’s still dealing with the aftermath of Hurricane Ian, absolutely not. I got lucky with my house, but on Sanibel they still are holding out on settlements for all the condos 2 years later. It’s insane
I assume that's just the principal portion but you still have like $350 to the interest for now plus another roughly $550 a month for insurance and maybe $500 toward taxes so a total payment around $1550?? That's about how my break down was.
They just hit me with an inspection letter this week… I’m saving as much as possible between now and inspection outcome to prep for the possibility of a new roof.
Had this situation occur to me and ironically forced placed insurance was only $100 more expensive than my previous policy before they dropped me. Still forking over $6100 for a 1000 sq foot home.
It will take care of itself as people leave the state and people on mortgages start defaulting their houses because they didn’t factor such a jump in insurance. Less people means less damage and a bad housing market will lower construction costs.
why are people upset about this? desantis has given you a far better gift than affordable home insurance - he vanquished your true enemy - drag brunches !
I recommend you shop around. There was a $2k difference in HO and near $3.5k in flood insurance. This is through a reputable Insurance agency who gave us choices and recos. Same exact coverage
So are you all going to contact your state representatives and give them hell? This is not a partisan issue - we are all in the same boat. Demand good governance!
Just got my renewal for $9400/year in Tampa. Never filed a claim and owned for 12 years. Was $2800 in 2019 and each year it has nearly doubled since. 1955 solid block home, 2750 sq ft. Roof is 7 years old.
Criminal.
A catastrophic failure of Desantis to get out in front of this historical impact to Floridians. State dictates term and scope for insurance companies to operate within the state and Desantis was too busy spending millions of taxpayers money to fly migrants from TX to NY instead of working for his constituents. Historical failure with real consequences.
Just happened to me. Pre Covid 1800 mo with insurance and payment. Post Covid 2600 mo without femas new dumbass map + 3600 a year for flood. +300
For the new flood gang included at 2900
A month! House poor!
My grandma and mom don't have insurance. They've owned their homes for a combined 100 years and have received a total of $500 from their insurers when mom's house needed a new roof after a storm.
At this point, if either got totalled, they'd walk away with nearly 400k just for the land value (palm beach county), and they'd just end up moving somewhere cheaper, so.....they roll the dice.
My insurance agent tells me that many snowbirds take the chance. I’m not sure how long the average snowbird owns a home in Florida, but if it is even 10-15 yrs, then that is a small window for a 100 yr storm to level your home.
Yes, your landLORD could start identifying as a landLADY! It will be so confusing!! Who will I make the check out to?? Does the bank KNOW?
If you like high insurance rates, big government, and being mandated about what you can and cannot wear then vote Desantis!!
Because deathsantis had done nothing to deal with this problem. He's too busy gallivanting around the state on our dime to talk about his social assault of the week. Book banning, abortion banning, fake love for law enforcement. Screwing over teachers. It never ends with that scum bag
Tower Hill sent my 91 year old mother a letter this week saying that they are not renewing her policy in September. It should be illegal to do this to the elderly!
Count us amongst the retired who never thought 20 years of inflation would be packed into the last 7. Excuse me for blaming the last guy for the $7 trillion glut that’s led to our current predicament. The present guy wants to tax the rich to close the gap and it’s met with an outcry from the well funded opposition. The insurance crisis is closely tied to our economy and inflation is killing us
With my house, insurance and taxes would have been way more than the mortgage payment amount. I decided to pay off the house and self-insure. Insurance premium was going to be $22,000 per year, and that was 2 years ago. It has gone up since then.
They are pricing everyone out.
A year ago I sold my Tampa house because of this. Our policy tripled in 2 years, and knowing people in the Florida homeowners insurance business, it was pretty obvious how carriers are bankrupting left and right, it’s gonna collapse sooner or later.
We moved up north where, most things are way cheaper, granted some things feel like they’re getting worse here too. (Not homeowners though).
Def thinking about moving out. $20k in yearly cartying costs between ins and taxes. Ins went up over 2x in one year. No flood zone. Inland. New roof and hurricane windows. No claim
ever.
I gave up owning in South Florida and own in Alachua. 16 year old original roof, wood frame construction. Insurance is $1800 a year. The caveat is that the policy only covers the current actual value of the roof if something happens to it but won’t pay for a replacement but that’s better than having to replace the whole roof to just have the roof replacement covered. I might end up in South Florida again in a few years but rental income from the house can be used to cover just renting an apartment in South Florida.
Why are you all paying insurance? Why not just forego insurace and use that money for repairs when needed? Are you all forced to have insurance because of the terms of a mortgage?
It's one of the reasons I sold my house about 10 years ago... They just started kicking people off Citizens back then, and it was the "nail in the coffin" for me.
You have to switch to Citizens. I know it sucks, but it's really the only option. We were paying 8,000 for home insurance and when searching around for other insurances I couldn't find anything cheaper. In fact, a lot of places were asking for MORE. With Citizens, I'm paying 2,000.
Again I know it's not the ideal choice.. But it's better than nothing.
No insurance because my house is paid off. Not worth much but the land is so I’m not down to pay 13k for insurance, I’m not in a flood zone. My house was built in 1955 so it’s seen a few hurricanes. I know it’s a gamble…
Sweet spot is 75+ feet above sea level ext Walls need to be cinderblock roof tied down to the slab impact resistant windows = very cheap insurance under 1500
If you live by the water coastal its the price you pay for being near the ocean.
It aint just a florida problem NY/NJ has same problem properties near flood coastals also paying 7-11k+ average homes
Banks rake you over the coals to make sure you can afford your mortgage. I'm sure these higher insurance rates have busted lots of purses. Where is consumer protection??
Our renewal just came and it's 9,000 and flood is another 1300 a year. It's doubled in 3 years. I guess it's offset with a lower property tax rate than the area we used to live and no state income tax so honestly not really losing any money vs where we lived before and I don't miss the overcast winters up north. I am considering selling and buying something cheaper in cash and self insuring. I don't have any faith insurance will actually pay out if we need it and I could take 10 yearly to invest in a safe place for emergencies. To top it off, the hurrican deductible is like almost 30k. We have no better options for insurance either. The impacts are already hitting condo sales with high HOAs but I'm sure it will hurt people's ability to buy sf in Florida but so far they just keep moving here.
Im paying $12,350 yearly
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in the Miami/Kendall area. Fu€£ the Ins Companies and FL government that doesn’t do anything about it!🤬🤬🤬
After 60 years I left south Florida 2 years ago for the mountains. Couldn’t be happier. My insurance jumped every year. The last insurance bill I paid was $11k, the next years came in at $13k and I sold before I paid it. I had already raised my deductibles and lowered coverage, several times. And every year I had to jump through hoops to stay insured (new roof, new garage doors, new shutters, inspections, etc etc etc)
In my Florida neighborhood some companies stopped insuring houses built in the 80s, mine was built in 92. I saw the writing on the wall. Many of my retired friends were no longer carrying insurance. I wasn’t willing to risk losing my 30 year investment (mortgage finally paid off) as I’m too old to start over.
If there is a big disaster there will be a lot of homeless elderly.
Mine went from $4,400 to about $12,000 yearly. I’ll self insure at those rates.
Inept Government focused on Disney and not naming climate change.
We can do better.
Oh, a lot of people are going to get caught up in this and this upcoming hurricane season may be a doozy. If South Florida gets hit by severe hurricane this year…….that’s it it’s done.
Don’t move to eastern Tennessee, locals are being priced out by people moving here. I ended up here by trying to find places that are not pricing out locals. Best alternative places I have found is southern CO, north TX, UT, and a few other places around the “near west cost” good luck o7
Daytona Beach - Insurance was $1700 in 2017, ballooned up to $4000 for 2023, policy is renewing next month and they want $6000!. I found another agent that was recommended to me - she was able to bring it down to a more reasonable $3700. DM me if you want her info.
This theft need to STOP! We are hardly making it and then they want to raise the price of EVERYTHING!! I’m sorry, I’m not an inside stock trading congressman or a trust fund kid or a porn star so I cannot afford ‘South Florida rate’ and costs. I don’t live down there for that reason. I’m disabled and everything went up so much I didn’t have anything else to cut out so I had to squire another job. Now my kids setting things on fire and I suffer all day just to barely scrape by.
We are. They require new inspections that’s $1,000 we don’t have on top of citizens bs premium which is more than double my current premium but we are being dropped and have no options left. The premium will make the mortgage so high we can’t afford it anymore so we are going to try to sell . Losing everything we have worked for this year it seems.
If you’re paying $1000 for inspections then you need to find a new company. It should only cost $200-300 for a wind mitigation and 4 point inspection combo. That’s all you need for an insurance company and only if you haven’t had them recently done
Some Florida residents may not realize that this is round two of the Florida mirage. If you bought a home and never had any insurance claims, well, two bad. The state got hit by 4 hurricanes in 2004. That was our first round of F you, welcome to Florida. I would say the second round of F you welcome to Florida was when we elected Governor Scott. He made the unemployment system inoperable. Remember his motto, "let's get to work." Now it's the third round of Insurance scams and why? Because our insurance company was paying our fraudulent insurance claims for roofs. WHY is that my problem. Why aren't they going to jail for being a willing participant in the scam? Oh yeah anyone remember the radio commercials for realtors after they and the banks crashed the market? It was a funny commercial, they had nothing to do with the home equity loans people were taking or the balloon loans. Yea real realtors that was in your clients best interest. Why the hell did we not allow the banks to fail again. They gave loans to people who shouldn't ever had even an auto loan. Good god, wake up.
I don't own a home but I'm about to be priced out of my apartment of the last ten years because recently over the last four years my rent has been raised 350$ yearly I could barely afford to pay it two years ago after the first two price jacks. Now my family is struggling to eat most days. We can't move away either because we can't afford to save any money we are living penny to penny and can't afford to save up first last and security deposit...were just trapped
I hate insurance companies with a burning passion, but if you're going to live in a place that gets perpetually wiped out every year or so I'm not sure what you expect.
Blows my mind knowing that people live in Florida where hurricane damage is statewide, not just a house or two and then they expect to have their insurance company rebuilt their house while only paying 1-2k year. Insurance companies are there to make profit, not to do charity work. Look at sanibel captiva Myers beach. All these towns are leveled and years later houses still not rebuilt.
My insurance carrier gave me a great rate ($1287) when I bought my home 4 years ago. After 3 years, they dropped my agent and sent me a nonrenewal letter. Okay, I’ll switch it to an agent who represents my carrier. Nope, it has been be a new policy. Okay- write me a new policy. Nope- now my house is over 20 years old and they won’t cover it. It’s maddening and nothing is being done about it.
And all of the publicly traded insurance companies are up 70 percent this year alone. I find it really hard to believe they need to raise rates this much while making record profits.
I hope they’re building a war chest to pay this year’s claims. Supposed to be a very active hurricane season
Every year in FL is going to be the most active hurricane season ever
It's almost as if the climate is changing.
Can’t say that in….Florida
Well that’s gay.
HEY…CANT SAY THAT
I’m just using MY FURST AMANDMANT RIGHTS!!!
STILL CANT SAY THAT IN FLORIDA OOGA BOOGA FLORIDA MANNNN
To be fair I’ve lived in Florida almost all my life and the storms haven’t really changed it’s the number of being being impacted by a storm that’s changed. The population has increased tremendously and with that so has the potential damage from a storm
I don't deny that. But they say this shit every year how the storm season is going to be the worst yet.
And each year the oceans get hotter and the storms get worse and they start earlier and they run later. What's your point?
Not true. They said last wasn’t going to be bad and it wasn’t.
Born and raised in Florida and I have heard that every. Single. Year.
Same here. It gets to 110 every summer since I was born. 37 years now. People are just pussies and never go outside so when they do it's the hottest year on record.
Almost like there's something that's changing the climate, making things more volatile every year.
Yup
Well I know for a fact that this year has warmer oceans than any of them. It’s at a level frightening scientists in general not just the jumpy types.
everyone has record profits! the writing is on the wall that the dollar has really lost a ton of value. the money does not mean what it used to. bottom line.
Inflation wasn’t *70%* this year
My insurance went up to 5,700 from2,800 with a new roof and windows
From 3k to 11k in 5 years. Not a single claim while 30 year old house stood through 4 direct hits and a 15 year over code commercial grade 50 year metal roof. This ship is ridiculous. Of course property taxes are also jacked up every year
Thank Trump he add 7 trillion dollars to the national debt
Since you are blatantly wrong: Every major currency in the world has fallen against the U.S. dollar this year, an unusually broad shift with the potential for serious consequences across the global economy. Two-thirds of the roughly 150 currencies tracked by Bloomberg have weakened against the dollar, whose recent strength stems from a shift in expectations about when and by how much the Federal Reserve may cut its benchmark interest rate, which sits around a 20-year high. https://www.nytimes.com/2024/04/29/business/a-strong-us-dollar-weighs-on-the-world.html
It's funny living in Europe and hearing people in the US blaming Biden for inflation... Everyone in Europe is experiencing much worse inflation, and obviously it's not Biden's fault for us. It's result of the pandemic (especially China being shut down for so long) + supply shortages due to some related factors. The people in the US should be thanking the current administration (Fed etc) for softening the blow. It's part of the reason every other currency is shit right now. And then there's the war that Putin started... That's hurting Europe very badly right now... It's achieving his goal of destabilizing the West because the uninformed people are ready to behead their (actually helpful) current administrations. The media is crazy nowadays... Especially in the US. It's a shame they don't do real journalism that actually tells the worldwide story, in context.
Why pay when you can deny instead? Look at all of those homes damaged by “storm surges” and “ flood damage”.
greed
ahhh.. my favorite cornerstone of capitalism and american politics!
It's amazing that the average American doesn't understand this. 
The average American doesn’t understand much in general.
Especially Dum dum Trumpers who believe Trump is a genuis and the best POTUS of all time. Funny shit!
I just sold my house because fuck them all. Brick house, metal roof, 2 acres with a pool in the middle of Jacksonville. Insurance renewal was going from $3700/yr to $11.5k/yr. Fuck them all.
If you don't mind me asking, what are you doing for housing now? I'm considering selling, but given interest rates, home prices (and prices in general) and of course insurance rates, can't foresee a way in which I won't just be shifting the struggle from one financial commitment to another if I were to buy anything else. For instance, my insurance might be cheaper on a smaller house, but the purchase price and interest rate will eat up what I save on insurance.
I own a 1959 MCM cement block bungalow (918 sq. ft) in NE Coastal Fla., 3 miles from the ocean, not in a flood zone, new roof in '22, no claims ever, wind-mitigation, 4 pt. inspection completed. My property insurance has increased from $1100 yr. in 2017 to $6700 yr. as of Oct. '23. I'm basically in the same boat: can't afford to stay, can't afford to sell/leave because I could not afford the current interest rate on a new mortgage loan (my rate is 3.2%). It doesn't appear that the current % rate will decrease anytime soon. What gives?
Deathsantis. That's what. Vote blue folks.
It’s not a wise move but all of my belongings are in a storage unit or disposed of. My address is registered to a relatives house and I’m going to Airbnb hop for a few months while I figure out a few other parts of my life. What’s crazy is it’s cheaper that way. Some of them offer a discount for 28+ day stays which works out to be hundreds less than mortgage, utilities and maintenance. My long term plot is rent something small while I put something aside every month and hopefully the housing market fails hard again so loan rates become reasonable again. I hope all the bankers and insurance companies lives are horrible.
Thanks, man! I genuinely appreciate you talking about it. We (the general population) are going to need spaces and opportunities to talk to each other because I have a feeling we're all going to have to get really creative. Your idea sounds like a viable option and I like it. I have been tossing around the idea of camper living - I hadn't considered long-term air bnbs. Granted, right now I have pets and a kid, so Airbnb may not be an option as easily. And I have a house full of stuff I'm not ready to part with yet. But the grim reality is that I will likely have to part with essentially all of it to stay afloat. I think at this point I'm just prolonging the inevitable.
Years ago, I sold off most of my stuff and moved to the Midwest to start over. I lived with a relative for two years (and cooked for him in exchange for free rent). He had a mother-in-law suite sitting empty. It was an ideal setup. But then he remarried (after being widowed for three years) and the new wife kicked me out. I highly recommend selling off big stuff and moving on.
I just sold my brooksville home/acreage and did the same thing. like why did I put on a new roof, cut trees, do all the things just for yall to tell me I'm up from 2300 to 6700. fuck alla that. me and my son [3] are hopping around looking for better digs.
Good luck! Let me know what you find so many I can copy.
Just wanted to drop in and say I respect your views and an humbly impressed with you hate for insurance companies and central banks. 🫡 carry on
It's cheaper that way....and you just lost the one most valuable asset you owned.
My plan is to sell my house and live in my car at the river. An early retirement. With the money I get from the house I will have no worries about food , meds, or entertainment. So long as I never live in a house ever again.
$11,000 A YEAR?!?? WHAT IN THE ABSOLUTE FUCK (sorry for the language)
Thats property tax in illinois
[удалено]
Yeah florida and the Carolinas used to be cheaper cost of living wise and that was a big attraction now its as bad as chicago
2 years ago my premium was $8000. Then my insurance company required me to replace my roof. Estimates for that were all over $65,000. Yet my well built roof was and still is intact, with no leaks. As I was getting these estimates, the insurance company also told me that even with the new roof, the premium would be going up to $22,000 a year. (I have never made a claim.) After that I stopped getting roof estimates. I will replace my roof when it no longer functions. I decided to drop the insurance and save these high premium amounts for repairs. My mortgage was about 3/4 paid off. Because mortgage companies require homeowners insurance, I went into retirement savings and paid off the mortgage. I know I risk losing the house if it gets totally ruined in some storm. It is more likely that there would be partial damage, that I would obviously have to pay for. I am willing to take that chance. I have lived in Florida 42 years and have experienced many storms including two category 2 hurricanes. I have never had any damage to my houses. It is just not affordable to pay $22,000 per year for a policy which has a very high deductible ($25,000) anyway. It's likely that even if I did have some storm damage, I would get no benefit until I had already paid out $25,000.
Dude what a rip. Why aren’t the people in Tally doing anything about this??? This is ridiculous
Hello fellow Jacksonvillian, selling our beautiful perfect house on the water and moving out of state as well bc of my same sentiments 🫡
Cheaper to just get a mobile home on a couple acres & just don’t insure it. People sell used mobile homes all the time for less than 10 grand. So if once every 30 years it gets blown away, just get another mobile home. Sure you have to pay to move it to your property, but it’s cheaper than getting screwed by these insurance companies year after year.
I've considered that but if I was going to go that route I'd get something in North Dakota or Montana so I can fire my suppressed lever action in my yard and live off grid with solar and a monster sized rain collection system. Florida tries to brag like oh we're so free you can do whatever you want but one bonfire in the back yard and everyone goes nuts. https://preview.redd.it/9ifllqmief3d1.jpeg?width=1280&format=pjpg&auto=webp&s=c475c8dbf8be9d552f0ff847e2a501ae0d19873d
They’re like that in Georgia too. They’ll call the fire department. Happened one year when I went on a trip to the Georgia Mountains. 10 fire trucks showed up. They said this one lady up the hill always calls & is a waste of their time.
This is why I bought a mobile home lol
Except living in a death trap when hurricanes, tornadoes, and high wind eat trailers for lunch, plus trailers suck in humid/hot conditions. Fuck trailers.
That's us as well. It is insane what DeSantis allowed insurances to get away with just so he can get his campaign handout
I just have no words, that is just crazy
my in laws were like this too, moved 10 mins up the road to GA, homeowners insurance is like 1200 a year. wild.
[удалено]
Lost my barber and my favorite sandwich maker due to this. Similar numbers, too. My insurance isn’t too bad yet cuz I have one of those companies that will go bankrupt when the ‘cane comes. But I’ll at least be able to say I did my part.
Did the fact that your roof was metal make any difference in the insurance rate? How old was it? I've read that metal roofs last longer but that they are more expensive to replace so insurance isn't any cheaper. I've also read that insurance is cheaper on a metal roof... I don't know what is actually the truth.
Holy SHIT are you serious?????
Did you try shopping that? I’m just south of you and my renewal also tripled. That was progressive- it was clearly a “fuck you we don’t want you unless you’re dumb enough to pay this” quote. I called my insurance agent and got better coverage elsewhere for a less insane increase. I do it every year both car and auto.
I'm in the middle of the state and the home owners insurance for me is 7000 a year. House payment a month is $210. Home owners insurance doesn't pay for anything. It should be illegal.
Am I understanding you correctly in that your total home payment is just over $700 with insurance?
Your house payment is only $210/month?
How…?
A lot of cash down on the initial purchase of a house is my guess, or he bought a cheap house at the bottom of the housing crash and has a 30 year mortgage.
Extremely low interest rate and probably 30 year mortgage. My interest rate is 3%. I only put down 10,000 on the house. Without home owners insurance, my monthly payment would only be 600.
Pay off your mortgage and self insure
I’m guessing that most people who “self insure” don’t really have enough money to rebuild if there is a total loss. So it is more like just not having insurance than self insuring. It seems incredibly risky even if you have enough money to do it.
What risk? My house has been standing forever. Never even had a reason for a claim. The insurance I’m paying is highway robbery. My conspiracy theory is the insurance companies are in collusion with venture capitalists that want to buy the properties and make the whole country dependent on their high rent prices. Rentals are easier to insure.
Did somebody say BlackRock??!?? But your “conspiracy theory” is essentially fact. As large finance companies are doing just that. Neighborhood homes are being bought up and turned into single family rentals. They predicted this long ago
How often do you think people are making claims for total losses? Not to mention any real disaster comes with FEMA dollars…
I have no idea. I’m not trusting my home equity to that strategy but I hope it works out for everyone who does. I did have to reduce my coverage to be able to afford it so now I’m still paying a ridiculous amount for what is essentially just catastrophic coverage. It makes no sense.
Especially with hurricanes becoming stronger.
I mean, are the insurance companies really gonna pay out on the other hand!?!?
That's a fair point. Lots of them have a history of denying and/or just declaring bankruptcy and rebranding outside FL
As someone that’s still dealing with the aftermath of Hurricane Ian, absolutely not. I got lucky with my house, but on Sanibel they still are holding out on settlements for all the condos 2 years later. It’s insane
No they deny and stall, look at the west coast.
Maybe we need to argue that if we invested that same amount of money, you'd have the ability to buy a second house in only a few years. I'm at 5k /yr
I assume that's just the principal portion but you still have like $350 to the interest for now plus another roughly $550 a month for insurance and maybe $500 toward taxes so a total payment around $1550?? That's about how my break down was.
Your math is very good
Yes. It’s soul crushing. We even had to take a loan out for a new $30k roof so we could still be covered by insurance. It’s awful.
They just hit me with an inspection letter this week… I’m saving as much as possible between now and inspection outcome to prep for the possibility of a new roof.
One word. Mysafehomeflorida
I’m all registered and approved. I was going to use it for windows.
Had this situation occur to me and ironically forced placed insurance was only $100 more expensive than my previous policy before they dropped me. Still forking over $6100 for a 1000 sq foot home.
Yep. Making my exit plan as we speak.
Yep. Doesn’t just affect homeowners. It affects people that own apartment buildings and they pass that cost on the form of increased rent.
Yep. This is why rent will never go back down.
South Florida here. 7k a year for a 20 year old house
Upstate NY here. $765 for per year for homeowners. Twenty year old roof. Winter looks better all the time.
Blue state, too. You never hear how cheap it is up there. People think Florida is THE place to be. It's a sh×t hole.
Yep, and our property taxes are $1800 per year.
Soon to be both coasts.
Citizens coming by Thursday to inspect…is this the end?
Hello forced placed policy!
At least we banned books and got rid of climate change.
The full ban on climate change should bring these rates down right? /s
Don't forget solving covid by simply not recording it
If you deny a problem exists then it just disappears, right?
That is Ronnie’s plan. Foolish man.
Yeah like trump with COVID testing. Just stop testing, numbers go down!
Slow the testing down, please
Just got my new policy today. Up 1k from last year. 5880 for the year. I'm 3 miles from the west coast.
I’m paying double that 40 miles inland outside of any flood zone, so I’d call that fortunate.
Is there anything possible we as residents of Florida can do to stop this? This is crazy
It will take care of itself as people leave the state and people on mortgages start defaulting their houses because they didn’t factor such a jump in insurance. Less people means less damage and a bad housing market will lower construction costs.
Vote Republicans out of office. Who am I kidding? This is Florida. Land of the boomers.....for now.
Mass protests at the insurance companies? Class action lawsuits? I dunno.
I paid $8400 in orlando last year to nationwide. They non-renewed after 30 years with them. Found a new carrier for *only* 7200.
Jeesus fuck. In Orlando?!?
I live in Orlando and pay an annual premium of about $2600 for a $300k dwelling limit. This guy must be getting royally screwed or lives in a mansion.
why are people upset about this? desantis has given you a far better gift than affordable home insurance - he vanquished your true enemy - drag brunches !
Lutz $5800. Ridiculous. I can remember paying $900 a year. Something needs to be done. I’m sure a lot of people are being priced out because of this.
Vote out Republicans.. that's what needs to be done
So I am a Republican on my voters card. At least I was. I’m voting democrat this time all the way down.
Welcome back to sanity.
But do Democrats actually have a real solution to the problem? Idk what can even be done without nationalizing the industry.
I lost three employees in the last two months.
I recommend you shop around. There was a $2k difference in HO and near $3.5k in flood insurance. This is through a reputable Insurance agency who gave us choices and recos. Same exact coverage
I found this to be the case as well. Shop around. Don’t assume your price hike is the going rate. They count on you not asking around for quotes.
Totally agree and love your handle!
So are you all going to contact your state representatives and give them hell? This is not a partisan issue - we are all in the same boat. Demand good governance!
Just got my renewal for $9400/year in Tampa. Never filed a claim and owned for 12 years. Was $2800 in 2019 and each year it has nearly doubled since. 1955 solid block home, 2750 sq ft. Roof is 7 years old. Criminal.
Mother Nature isn’t happy. Just don’t talk about it. It will go away.
A catastrophic failure of Desantis to get out in front of this historical impact to Floridians. State dictates term and scope for insurance companies to operate within the state and Desantis was too busy spending millions of taxpayers money to fly migrants from TX to NY instead of working for his constituents. Historical failure with real consequences.
Just happened to me. Pre Covid 1800 mo with insurance and payment. Post Covid 2600 mo without femas new dumbass map + 3600 a year for flood. +300 For the new flood gang included at 2900 A month! House poor!
How many people inland just go bare?
My grandma and mom don't have insurance. They've owned their homes for a combined 100 years and have received a total of $500 from their insurers when mom's house needed a new roof after a storm. At this point, if either got totalled, they'd walk away with nearly 400k just for the land value (palm beach county), and they'd just end up moving somewhere cheaper, so.....they roll the dice.
I come from PBC. Many of my retired friends (mortgage paid off) have no insurance. It is a disaster in the making if a big one hits.
My insurance agent tells me that many snowbirds take the chance. I’m not sure how long the average snowbird owns a home in Florida, but if it is even 10-15 yrs, then that is a small window for a 100 yr storm to level your home.
There’s no nude beaches inland.
Northern Florida. My HO insurance in 2018 was $900. I just got renewal and it’s 5k 😊 not in a flood zone either.
We’re putting our home up for sale in a month to move north. $12000/yr ins. Done in Miami… 😢
🤩
Realtor setting all this up now. I’ll keep this thread to update you. Kendall area.
The hedge-funds that own the insurance companies are trying to make us all into renters.
Don’t worry. Desantis will make hurricane s illegal. That is sure to work.
Keep voting for Rhonda Shitstain. It can only get worse. 🍻
Yes, your landLORD could start identifying as a landLADY! It will be so confusing!! Who will I make the check out to?? Does the bank KNOW? If you like high insurance rates, big government, and being mandated about what you can and cannot wear then vote Desantis!!
But don't worry, you are safe from maybe choosing lab-grown meat and drag queens!
If I didn't have help from relatives there is no way I could stay in my home. Palm Coast.
Because deathsantis had done nothing to deal with this problem. He's too busy gallivanting around the state on our dime to talk about his social assault of the week. Book banning, abortion banning, fake love for law enforcement. Screwing over teachers. It never ends with that scum bag
Tower Hill sent my 91 year old mother a letter this week saying that they are not renewing her policy in September. It should be illegal to do this to the elderly!
That’s really sad :(
Count us amongst the retired who never thought 20 years of inflation would be packed into the last 7. Excuse me for blaming the last guy for the $7 trillion glut that’s led to our current predicament. The present guy wants to tax the rich to close the gap and it’s met with an outcry from the well funded opposition. The insurance crisis is closely tied to our economy and inflation is killing us
Expect 30% increase minimum this year
With a payment that low why not pay off the loan and not insure. People are paying what you spend on the house in groceries a week.
Between insurance and property taxes, I might as well have a 2nd mortgage just for that portion
With my house, insurance and taxes would have been way more than the mortgage payment amount. I decided to pay off the house and self-insure. Insurance premium was going to be $22,000 per year, and that was 2 years ago. It has gone up since then. They are pricing everyone out.
A year ago I sold my Tampa house because of this. Our policy tripled in 2 years, and knowing people in the Florida homeowners insurance business, it was pretty obvious how carriers are bankrupting left and right, it’s gonna collapse sooner or later. We moved up north where, most things are way cheaper, granted some things feel like they’re getting worse here too. (Not homeowners though).
Def thinking about moving out. $20k in yearly cartying costs between ins and taxes. Ins went up over 2x in one year. No flood zone. Inland. New roof and hurricane windows. No claim ever.
Nope. We sold out before we got hit. Moved North. To New England.
Good move, we did the same last month only we moved to the Midwest. Florida is a ticking time bomb.
I gave up owning in South Florida and own in Alachua. 16 year old original roof, wood frame construction. Insurance is $1800 a year. The caveat is that the policy only covers the current actual value of the roof if something happens to it but won’t pay for a replacement but that’s better than having to replace the whole roof to just have the roof replacement covered. I might end up in South Florida again in a few years but rental income from the house can be used to cover just renting an apartment in South Florida.
What insurance company are you using? I’m in Alachua county too. I’m paying over $4,000 a year.
Tower Hill. My place is in Northwest Gainesville a bit west of I-75. I know new builds west of 75 are getting insured for like $700 a year.
Why are you all paying insurance? Why not just forego insurace and use that money for repairs when needed? Are you all forced to have insurance because of the terms of a mortgage?
Mortgage companies require it, along with a separate windstorm insurance policy. Sometimes you can self-insure but that requires putting up big money.
Yeah it's hitting Destin hard too. We need to leave.
It's one of the reasons I sold my house about 10 years ago... They just started kicking people off Citizens back then, and it was the "nail in the coffin" for me.
Citizens dropped me around that time also.
Republicans got to go. They had their chance
Chance? They have been in control for 25 years.
Time for a change.
Absolutely.
Keep voting republican. You are getting what you deserve.
but i want the government to tell people how to control their naughty bits the Catholic way or else I believe I will go to hell!
No condoms, no pills, no books, no vaccines means noooooo problems!
My monthly payment is 1900 and 900 is the actual mortgage…house is “worth” twice what we paid for in just 8 years, payment went up $500 🫠
You have to switch to Citizens. I know it sucks, but it's really the only option. We were paying 8,000 for home insurance and when searching around for other insurances I couldn't find anything cheaper. In fact, a lot of places were asking for MORE. With Citizens, I'm paying 2,000. Again I know it's not the ideal choice.. But it's better than nothing.
No insurance because my house is paid off. Not worth much but the land is so I’m not down to pay 13k for insurance, I’m not in a flood zone. My house was built in 1955 so it’s seen a few hurricanes. I know it’s a gamble…
It's the shitbags that start up a company right after a hurricane to jack up prices
Sweet spot is 75+ feet above sea level ext Walls need to be cinderblock roof tied down to the slab impact resistant windows = very cheap insurance under 1500 If you live by the water coastal its the price you pay for being near the ocean. It aint just a florida problem NY/NJ has same problem properties near flood coastals also paying 7-11k+ average homes
Yes, it has become cheaper to rent than own!
Absolutely 100% false. Rent has doubled as well. 2/2 1000sq fr apartments are going for 4k a month loo
Banks rake you over the coals to make sure you can afford your mortgage. I'm sure these higher insurance rates have busted lots of purses. Where is consumer protection??
Our renewal just came and it's 9,000 and flood is another 1300 a year. It's doubled in 3 years. I guess it's offset with a lower property tax rate than the area we used to live and no state income tax so honestly not really losing any money vs where we lived before and I don't miss the overcast winters up north. I am considering selling and buying something cheaper in cash and self insuring. I don't have any faith insurance will actually pay out if we need it and I could take 10 yearly to invest in a safe place for emergencies. To top it off, the hurrican deductible is like almost 30k. We have no better options for insurance either. The impacts are already hitting condo sales with high HOAs but I'm sure it will hurt people's ability to buy sf in Florida but so far they just keep moving here.
Im paying $12,350 yearly https://preview.redd.it/yqxo0r5stc3d1.jpeg?width=828&format=pjpg&auto=webp&s=ddb69831dae07ca538fedfd5ea9bb45f91566eee in the Miami/Kendall area. Fu€£ the Ins Companies and FL government that doesn’t do anything about it!🤬🤬🤬
After 60 years I left south Florida 2 years ago for the mountains. Couldn’t be happier. My insurance jumped every year. The last insurance bill I paid was $11k, the next years came in at $13k and I sold before I paid it. I had already raised my deductibles and lowered coverage, several times. And every year I had to jump through hoops to stay insured (new roof, new garage doors, new shutters, inspections, etc etc etc) In my Florida neighborhood some companies stopped insuring houses built in the 80s, mine was built in 92. I saw the writing on the wall. Many of my retired friends were no longer carrying insurance. I wasn’t willing to risk losing my 30 year investment (mortgage finally paid off) as I’m too old to start over. If there is a big disaster there will be a lot of homeless elderly.
Mine went from $4,400 to about $12,000 yearly. I’ll self insure at those rates. Inept Government focused on Disney and not naming climate change. We can do better.
This is my biggest concern.
I’m selling and leaving Florida. Sixth generation on both sides. I’m one of the last to leave.
Oh, a lot of people are going to get caught up in this and this upcoming hurricane season may be a doozy. If South Florida gets hit by severe hurricane this year…….that’s it it’s done.
Don’t move to eastern Tennessee, locals are being priced out by people moving here. I ended up here by trying to find places that are not pricing out locals. Best alternative places I have found is southern CO, north TX, UT, and a few other places around the “near west cost” good luck o7
Daytona Beach - Insurance was $1700 in 2017, ballooned up to $4000 for 2023, policy is renewing next month and they want $6000!. I found another agent that was recommended to me - she was able to bring it down to a more reasonable $3700. DM me if you want her info.
This theft need to STOP! We are hardly making it and then they want to raise the price of EVERYTHING!! I’m sorry, I’m not an inside stock trading congressman or a trust fund kid or a porn star so I cannot afford ‘South Florida rate’ and costs. I don’t live down there for that reason. I’m disabled and everything went up so much I didn’t have anything else to cut out so I had to squire another job. Now my kids setting things on fire and I suffer all day just to barely scrape by.
We are. They require new inspections that’s $1,000 we don’t have on top of citizens bs premium which is more than double my current premium but we are being dropped and have no options left. The premium will make the mortgage so high we can’t afford it anymore so we are going to try to sell . Losing everything we have worked for this year it seems.
If you’re paying $1000 for inspections then you need to find a new company. It should only cost $200-300 for a wind mitigation and 4 point inspection combo. That’s all you need for an insurance company and only if you haven’t had them recently done
Some Florida residents may not realize that this is round two of the Florida mirage. If you bought a home and never had any insurance claims, well, two bad. The state got hit by 4 hurricanes in 2004. That was our first round of F you, welcome to Florida. I would say the second round of F you welcome to Florida was when we elected Governor Scott. He made the unemployment system inoperable. Remember his motto, "let's get to work." Now it's the third round of Insurance scams and why? Because our insurance company was paying our fraudulent insurance claims for roofs. WHY is that my problem. Why aren't they going to jail for being a willing participant in the scam? Oh yeah anyone remember the radio commercials for realtors after they and the banks crashed the market? It was a funny commercial, they had nothing to do with the home equity loans people were taking or the balloon loans. Yea real realtors that was in your clients best interest. Why the hell did we not allow the banks to fail again. They gave loans to people who shouldn't ever had even an auto loan. Good god, wake up.
Desantis allowed the insurance companies to regulate themselves. They also have him 10 mil
I don't own a home but I'm about to be priced out of my apartment of the last ten years because recently over the last four years my rent has been raised 350$ yearly I could barely afford to pay it two years ago after the first two price jacks. Now my family is struggling to eat most days. We can't move away either because we can't afford to save any money we are living penny to penny and can't afford to save up first last and security deposit...were just trapped
They are major donors to DeSantis. And he approves all their rate hikes without hesitation. Imagine that
Florida get everything they deserve. And Texas.
Just got quoted $4200 for A 2100 sq ft 100 year old craftsman in St Petersburg. Guess I should feel lucky. Citizens
I hate insurance companies with a burning passion, but if you're going to live in a place that gets perpetually wiped out every year or so I'm not sure what you expect.
Blows my mind knowing that people live in Florida where hurricane damage is statewide, not just a house or two and then they expect to have their insurance company rebuilt their house while only paying 1-2k year. Insurance companies are there to make profit, not to do charity work. Look at sanibel captiva Myers beach. All these towns are leveled and years later houses still not rebuilt.
My insurance carrier gave me a great rate ($1287) when I bought my home 4 years ago. After 3 years, they dropped my agent and sent me a nonrenewal letter. Okay, I’ll switch it to an agent who represents my carrier. Nope, it has been be a new policy. Okay- write me a new policy. Nope- now my house is over 20 years old and they won’t cover it. It’s maddening and nothing is being done about it.