[THX 1138]

On one of the news stations here a couple from Jupiter was interviewed, the man stated they raised his insurance to $8K/year, then dropped him. He then said roughly "it's easier to just level the house and sell the land and get the hell out of Florida".

[cmsvmom]

Originally Posted by crystalblue

what happens when all the insurance companies pull out of florida?

We had this problem with auto insurance in NJ some years ago. Basically it meant an anti competitive environment, and Allstate cleaned up. There are now more choices, but this has contributed to the cost of auto insurance in NJ - they know what people will pay.

I'm sorry to hear about State Farm, because they are really good at responding when you have a claim up here in NJ. But I won't be looking to use them when I move.

If you were to move to any coastal community in FL this year, which insurance company would you choose with the best staying power and why?

[crystalblue]

is it possible to sue these insurance companies if they insure you for a while, continue to raise their rates, then just decide to drop you even if youve never had a claim?



this is why i dont think insurance should be allowed to be a for profit enterprise...

[MB2]

Originally Posted by crystalblue

is it possible to sue these insurance companies if they insure you for a while, continue to raise their rates, then just decide to drop you even if youve never had a claim?



this is why i dont think insurance should be allowed to be a for profit enterprise...

No, it is not possible to sue them. Why? They just have gotten "smarter", and the "special clauses" and fine print has gotten almost as thick as a phone book.
I know people which had increases in the HOI and NEVER put a claim in...but still got dropped.
That's the dilemma FL is facing right now....HOI CO. running amok......
And, they can, because nobody puts a stop to it, and there are few left who will insure and take on new policies.
BTW.....forget to find a HOI which will insure you and your home during hurricane season....everyone just holds their breath during that time....sigh.

[T27taylor]

After reading all the terrible issues with insurance companies in florida, I was wondering which area would be best to move to concerning insurance. I wanted to move to Wellington (outside WPB). I realize it cost more closer to the coast. I moving from the desert, so all these types of insurance are new to me. Is it better to buy a condo/ townhome than a house to cut costs and insurance? Any replies appreciated. Thanx.

[momix5]

I live on Long Island, not only Allstate, they dropped me, but so did a company called Holyoke. after 15 years with them , so now I have someone from NJ I never heard of but what the heck they cover me for a lot of money!

[kelly3120]

Many new home buyers go through citzens.
We went through them w/ the old house and are w/ them in the new house. all my family is insured through citizens.


From what I understand Citizens has to provide insurance if one can't get insured through other means.

[Mathguy]

Originally Posted by cmsvmom

We had this problem with auto insurance in NJ some years ago. Basically it meant an anti competitive environment, and Allstate cleaned up. There are now more choices, but this has contributed to the cost of auto insurance in NJ - they know what people will pay.

I'm sorry to hear about State Farm, because they are really good at responding when you have a claim up here in NJ. But I won't be looking to use them when I move.

If you were to move to any coastal community in FL this year, which insurance company would you choose with the best staying power and why?

Um, New Jersey has the highest auto rates in the nation for a reason. No-Fault insurance, theft, accident rings, congestion, litigiousness are all a big part of that. Auto insurers aren't making much money writing business in NJ. (And if they could gouge in NJ, why not in say...Iowa or Florida?)

I find it HILLARIOUS that the insurers are both "trying to leave the state" and "making tons of money" at the same time. Yeah, they're making so much money they want to stop writing business in the state?

P.S. All of the rates in these states MUST be approved by the state prior to usage.

[Mathguy]

Originally Posted by crystalblue

is it possible to sue these insurance companies if they insure you for a while, continue to raise their rates, then just decide to drop you even if youve never had a claim?



this is why i dont think insurance should be allowed to be a for profit enterprise...

Do you understand what insurance is?
Pooling of risks so that no single individual suffers overly from a loss.
The WHOLE concept of insurance is that most people will never collect.
Also, things like inflation pretty much ensure that costs will increase annually and building supplies have REALLY shot up in price (especially if there is a hurricane).

As for non-profit....many insureres are mutuals so you get back a portion of the profits...if you don't like that then insure with Citizens.

Also, the flood insurance portion of your premium is NON-Profit, sold by the federal govt.

Anything offered solely by the government is generally so inefficient that a private company, making a profit, can still provide the service more cheaply.

Lastly, the state of Florida has set the rates for homeowners insurance for decades. They approved all of those rate filings by State Farm etc. and then acted shocked when people couldn't stomach the increases.

The average elevation of Florida is 6 feet above sea level. You live on a large SAND BAR in a period of rising ocean temperatures and the problem is with the insurance companies? Come on, a just a shred of responsibility for your choices people.

[Mathguy]

Originally Posted by kelly3120

Many new home buyers go through citzens.
We went through them w/ the old house and are w/ them in the new house. all my family is insured through citizens.


From what I understand Citizens has to provide insurance if one can't get insured through other means.

Yeah, thier expanding that definition too. They also acknowledge thier rates are inadequate over the long haul and now insure 1/2 the state.

All this means is that lower premiums means you save now but when a hurricane hits....taxes go up, premium surcharges on most other insurance like your car etc. so you will pay on the back end instead.

Crist is gambling there won't be any major hurricanes for a long time and if he's right he saved you guys a lot of money. If he's wrong...you will pay a lot.