Nationwide dropping 39,000 homeowners policies in Florida

tampabay10 ^ | 29-Aug-2007 | dave balut

[NonValueAdded]

The way to fix this is to pass laws preventing anyone to force you to buy insurance. Allow people to insure themselves. If they have a loss, and cant recoup...oh well...thats business

And what sort of law will you pass for those people to get a mortgage?

[goldstategop]

If you have a mortgage, you don't have a choice. If you drop the insurance, the lender will just insure you anyway since its their money that's being placed at risk. Once you pay off the loan, then you can choose not to be insured. That's the way its always been in America, except now in high risk areas, insurance companies have decided insuring any one is just too much of a risk.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[NonValueAdded]

I understand that, hence my question to the original poster. By all means, if your mortgage is paid off you do not have to carry insurance. No change in law is necessary for that. Of course, you also have to have the wherewithal to walk away from a couple of hundred thousand dollars of rubble and start over. That isn't going to apply to too many people.

***BREAK***

A caller to a local radio program here in Fla just related how he had State Farm do an inspection of his well-built house and, with a higher deductible ($4000 instead of $1000), he was able to get a reasonable rate. There recommendation was a strong one to get an inspection if you were a State Farm customer. Call your agent.