Thoughts and Prayers no Hurricanes make landfall this year...

78,000 FL Property Owners To Lose Insurance Coverage On July 15

https://patch.com/florida/sout...rance-coverage-july-15

According to Insurance.com, the average premium for homeowners insurance policies in Florida was $3,643 for a policy with a $1,000 deductible on a home valued at $300,000.

Move to tax free FLaradah, so you can get raped by an unregulated insurance market

It's a shame so many people treated home insurance as a lifetime roof warranty. It was a shady business before, but all the roofing "small business entrepreneurs" going around soliciting insurance claims really put the nail in the coffin of FL insurance.

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Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".

Roof wars. Now insurance won't insure (full replacement) a roof over 10 years old. Good thing I got 40 year shingles?

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add a signature since I'm here in profile anyway

Huh? Insurance is regulated up the wazoo in Florida. We have risks that many states don't have and insurers have to price that in or they will go out of business, as many have. The roofing situation certainly didn't help matters. To be clear, I generally despise insurance companies, and sue them often. But it ain't much fun for an insured with a valid claim to learn that her carrier is in receivership and she isn't going to get her claim paid. I've seen it happen. Insurance companies have a place in society and they need to be able to remain viable.

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I :heart; Q

Have to concur with TPap on this one. Insurance is heavily regulated - read the statutes (FS 627) and other regs. The roof claims exist and premiums are high in coastal FL because FL experiences alot of damaging weather. Roofing damage is often not discovered, unless the owner isn't experiencing a leak. Just because there's no leak, doesn't mean your roof wasn't damaged. Insurers are permitted to scrutinize, counter, or reject any claim they wish. The narrative that fraudulent "roof claims" are driving up premiums, is just as false and easily disproven, as the narrative that personal injury claims drove up premiums and health care costs justifying tort reform, which really only hurts plaintiffs that can't afford to sue unless the lawyer works on contingency. FL is an expensive place to live - esp. factoring in low wages for much of the workforce keeping things in motion. You get what you vote for!

Citizens has ben assigning real fly by night 'takeout' insurance companies in an attempt to 'cull the herd'.

NONE of these companies are worth shit, and when an 'event' happens will be bailing on their customers leaving them with their dicks in their hands waiting for Citizens to step in and allegedly fill the void.. DONT BITE THE HOOK!

As an engineer who gets involved in repairing/rebuilding after hurricanes, believe me you don't want to be placed in that queue - along with everyone who got bailed on..

Funny that their 'sales pitch' is that Citizens will raising their rates like crazy, but the truth is that they are the ones who will rape you..

Was with Citizens for 20 years and, yes they consistently raised their rates, but not that badly - 10% prob at worse, avg maybe 5%?.. Last was at ~$3500 with a 2% deductible for ~2100 sf '61 vintage CBS,, Not 'great', but not bad - 200 steps from sand..

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There are NO white people at all in the Bible... take all the time you need with that...
Please stop feeding the trolls - they will go away if you do...

Correct.

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I :heart; Q

Look there have been scumbags coming around for years pulling this roofing scam and it's crushed us. I knew what was happening years ago under that shithead Scott and told them to beat it because I knew it was wrong. I pay $7500k now a year for insurance.

But I will say DeSantis is tackling this and has got some shit done. We have 10k grants coming from the state $1 matched for every $2 you spend up to 10k for storm hardening. DeSantis is no trump, he' playing that culture war game which frankly he does not need to do (maybe he does for now since qotard have the attention span of a gnat), but he's getting shit done.

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QOP = Terrorists
FK = Gay

Just hope there are no catastrophic Hurricanes this year.

Just googled some looking for articles. Here is a counter point on Desantis doing a great job. Liberal hit piece I'm sure:

Florida's new insurance law is a boon to the insurance industry
Adam Ellis

https://www.yahoo.com/news/flo...surance-220011507.html

Bend
Over
Here
It
Comes
Again

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Dora Hates You

It provides for 100% reimbursement (90% of losses plus 10% for "loss adjustment expenses") to insurance companies, which is powered by tax dollars.

Of course it does.

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I was right.

Edited: 06/24/2022 at 01:37 PM by Cole

All insurance related laws always benefit the insurance companies..

Wonder why - and who's in who's pockets?

Lobbying by corporations in any form, for any reason ,should be illegal - period, NO exceptions - at federal, state and local levels.

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There are NO white people at all in the Bible... take all the time you need with that...
Please stop feeding the trolls - they will go away if you do...

I had always assumed that these companies are so much more in tune withe the weather, patterns, climate etc. than the very best of us. And I'm worried that maybe their analysts are seeing something in the near future causing them to just bail and drop customers. This is after collecting premiums for what's been a relatively quiet decade.

The insurance industry most certainly believes in climate change.

http://www.fox13news.com/news/...s-feel-the-heat








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I was right.

Edited: 06/26/2022 at 06:54 AM by Cole

They have watched what happened in the panhandle through to Louisianna for the last couple of years. They are looking at how close Dorian got. They are looking at what Matthew and Irma cost them when the majority of the peninsula did not experience hurricane force winds from either system.

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These guys are in the business to not just make money, but literally a killing.

They hire the best mathematicians ('actuarial science' - probability experts) and follow this way more closely than we do..

Along with their lobbyists they have the game totally rigged..

Post cove building costs have escalated everywhere in FL, but even in relative depression rebuilding costs are absurd..

Nowadays guestimating more than $200/sf for a new house, but after a hurricane you will be looking at 50%++ more, and a very very long wait - and they may not want to cover the 'excess' - esp if it needs to be 'brought up to code' and you don't have that additional coverage covered..

12 months rebuild time is a joke.. After Francis/Jeannie many of my neighbors were out for 2 to 3 years - easy..

And the other thing is that they won't even sell you basic 'fire' without buying 'wind'.. - Own your house outright and fire is prob your worst risk, but hey.....

You don't 'have' to buy any insurance - but ...

Bend over Rover - and break out the KY...

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There are NO white people at all in the Bible... take all the time you need with that...
Please stop feeding the trolls - they will go away if you do...

Meanwhile in F.L.A....

Property owners insured by Citizens Property Insurance Corp., Florida's insurer of last resort, face rate increases of up to 11 percent starting Sept. 1, according to the Florida Office of Insurance Regulation (OIR).

Was with Citizens for 20 years and got those threatening letters practically annually - just before I got an 'offer' from a real 'fly by night' 'takeout company' that Citizens tries to palm you off on & permanently clear you off their books..

IMO, an 11% increase is practically nothing esp with house construction prices going way way above 11%.. Prices going up more like 50%+.. even a 15% increase prob not that bad.. until the 'correction' happens.. but don't expect a 'give back' ever.. 'not the way it works'

Note that unless you respond promptly with a resounding 'fuck no' in a very timely manner, you will be 'automatically assigned' - and then thrown off Citizens books FOREVER..

Told my agent that if this ever slipped by while I was out of the country etc, I was going to take my business elsewhere.. Had at least 4 takeover attempts over the years..

If you go to these companies be prepared, the will raise your rates even higher, and you cant go back to Citizens EVER..

One of them went out of business 2 years after the 'offer'.. WTF?

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There are NO white people at all in the Bible... take all the time you need with that...
Please stop feeding the trolls - they will go away if you do...

It would be a simple matter to just nationalize property insurance. Let the people elect an insurance administrator, run the damn thing at cost, and remove the profit motive.

Win-win.

What we have now is a prime example of private profits and socialized losses. It's a capitalist dream come true.

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Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".

Edited: 06/30/2022 at 06:02 AM by RustyTruck