Posted on 07/11/2023 9:02:34 AM PDT by DFG
Wait until Florida get hit with a couple more big hurricanes...
They’ve had a risk pool for years. I’ve spent many years in the insurance world in Florida. Hurricanes are so expensive to the state. I think they never recover (financially) from one and along comes another and another. They have increased the deductibles so much it hardly makes sense to have insurance.
As for auto insurance. The increase in population has roads so packed with cars you can hardly move. (One of the main reasons we left - traffic) The old people are only part of the problem. Lots of illegal aliens driving around and many, many uninsured drivers, millions of tourists all add to the high accident rate.
Florida used to be so nice and I’ve watched it become a nightmare. TOO MANY PEOPLE THERE. There are no simple solutions.
The last total evacuation from the state due to a huge storm approaching was probably 10 years ago. It became the stuff horror movies are made of. I can only imagine the tragic ending if everyone has to leave now, all at the same time, due to a cat 4, very large hurricane.
You should self insure if you think insurance is a bad buy
Those who choose to live on the coast in hurricane alley should either be uninsurable or only insurable at very high cost. I would say the same thing for the growing numbers out west who want to live in a forest. Make that group their own insurance pool and stop spreading their disproportionately higher risk onto all of those who choose to live inland. The risk in Florida, or similar coastal states, is very location-specific, so the insurance companies shouldn’t be spreading the risks voluntarily accepted by some onto all the rest.
You want to live near the beach?…then you are in the high-risk insurance pool. You don’t want the high insurance premiums?…then live inland. Problem solved.
Indeed it has. I felt lucky I didn’t get dumped from Universal. It went up almost double this year but I will pay it I guess. Whereas my flood from progressive only went up another 250.00 this year.
When I moved down here, I tried to get Geico, my old home insurer, to insure my home, and they refused. I ultimately got a company called Tower Hill, based in Alabama, to insure me. My hurricane deductible is quite high, of course. What else could they do? A hurricane hitting Florida in the summertime is also known as “Tuesday.”
Good...anything to stop liberal invasive species from blue states.
I’ve heard that the new roof job may not be all that good as well. If the whole operation is unscrupulous, why expect a top notch roof job from these folks?
Florida has been Florida weather wise forever. Sounds like gouging.
I friend of mine who lives in FL, said the same exact thing. But if ya listen to DeSantis supporters, the state is run like a fine Swiss watch...
Btw, the same thing happened in CA. Way too expensive, over crowded, jammed traffic, illegals and crime everywhere...
Florida used to be so nice and I’ve watched it become a nightmare.
I friend of mine who lives in FL, said the same exact thing. But if ya listen to DeSantis supporters, the state is run like a fine Swiss watch...
Btw, the same thing happened in CA. Way too expensive, over crowded, jammed traffic, illegals and crime everywhere...
Btw, my buddy and his wife are now contemplating moving out. It was just 8 years ago they moved there as it was great, according to them...Now they want to bail...
Companies abandoning a major market isn’t “gouging”, it is desperation. Something is wrong in Florida and needs to be fixed.
Vacuums don't stay that way for long. Other companies will see the opportunity and do exactly as you've prescribed.
Insurance companies get rich preying on consumer fears of any and everything. Hurricanes, floods, fires, health, auto accidents and everything else..
They make monster profits. Look at national advertising, naming rights for big ticket events, and stadiums; mostly insurance companies. State Farm, Farmers, Liberty, AFLAC, Prudential, AllState, Geico, and on and on and on.
The rise in the cost of claims has skyrocketed well beyond the rise in premium revenues. Property insurance in FL and CA costs the underwriters more than they collect. Funny nobody wanted to mention that the companies’ exposure is as extreme as extreme weather events.
No.
More government is the solution to EVERY problem. Like hurricanes.
If The Governor, through more government, can't stop hurricanes he's just failing to lead and unworthy of office.
I know this because I learned it on Free Republic!
If ya listen to DeSantis haters, the state is run worse than the worst third-world dump.
I don't live there.
I frequently work there.
The deSantis haters are dead wrong, to the point of bearing false witness.
I had a hard time getting insurance this year for a place out in the rural 4 corners area. Despite the fact that there hasn't been a fire to speak of in the immediate area in the 18 years, I have owned the place, they told me fire risk was too high. It wasn't that I was calling and the premiums were too high, I was calling and they were saying, "no".
LOL!! This site ain’t what it used to be, that’s fer sure !
I was referring to commenter about premium doubling.
Ok. We can just give the controls of the weather machine to DeSantis so he can control the hurricanes and sinkholes.
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