U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Thread summary:

Florida legislative session focusing on insurance crisis and real estate prices, looking for details about possible legislation, reinsurance companies, reinsurance subsidies

Reply Start New Thread
 
Old 12-25-2006, 10:23 PM
 
Location: Fort Lauderdale, FL
518 posts, read 1,993,266 times
Reputation: 264

Advertisements

Quote:
Originally Posted by Need_affordable_home View Post
We will have to hope 2007 doesnt bring hurricanes to Florida or insurance rates will rise or worse, insurancers will just drop coverage. You cant hold a mortgage without insurance so youll get forclosed and also few would buy a house that cant be insured as they would have to pay 100% down in cash and risk losing it to a hurricane without reimbrusion.
Anybody whose insurance is dropped with no other alternatives gets picked up by Citizens (which is why Citizens now is Florida's No. 1 property insurer and a necessary evil). Citizens can hit you with one huge rate increase after another, but they can't drop anybody -- under state law, they HAVE to insure you unless you default on paying your premium.

Last edited by chisoxfan; 12-25-2006 at 10:59 PM..
Reply With Quote Quick reply to this message

 
Old 12-26-2006, 03:25 PM
 
Location: So. Dak.
13,495 posts, read 34,013,292 times
Reputation: 15058
Wow, you guys really do have an insurance problem down there. We were undecided whether we would buy a small condo or rent an apartment. There are a couple of areas that we've been keeping our eyes on. Well, today I took all my info about one of the condos and tried to get insurance quotes on the net. Most of the companies don't even have "Florida" as one of their choices to click on. One of the first questions on a few of the sites was the zip code of the area you're planning on insuring. Some of the sites immediately let me know they don't cover Fla. Esurance wouldn't deal with me, but took me to Netquote and they let me enter my info. I'm still waiting for my online quote. I guess if the premiums are too high, it'll answer one of our questions and we'll just be renting, but that's ok, too.
Reply With Quote Quick reply to this message
 
Old 12-26-2006, 10:26 PM
 
Location: Tampa Bay
598 posts, read 2,033,282 times
Reputation: 208
Quote:
Originally Posted by Jammie View Post
Wow, you guys really do have an insurance problem down there. We were undecided whether we would buy a small condo or rent an apartment. There are a couple of areas that we've been keeping our eyes on. Well, today I took all my info about one of the condos and tried to get insurance quotes on the net. Most of the companies don't even have "Florida" as one of their choices to click on. One of the first questions on a few of the sites was the zip code of the area you're planning on insuring. Some of the sites immediately let me know they don't cover Fla. Esurance wouldn't deal with me, but took me to Netquote and they let me enter my info. I'm still waiting for my online quote. I guess if the premiums are too high, it'll answer one of our questions and we'll just be renting, but that's ok, too.
Please be careful in buying a condo. If you are in an area where you end up with Citizens, they are getting hit as hard as commercial businesses. An example of this was on the news... a woman at the last Citizens meeting in Largo was explaining what is happening to her family. Her elderly relative lives in a condo. Last year his insurance bill was ~$2000. His new bill just came in... $27,000!!! No kidding. Honestly, if you REALLY want to move here I would rent and live in an area away from the coastline counties at least until things (hopefully) get straightened out. Good luck
Reply With Quote Quick reply to this message
 
Old 12-26-2006, 11:29 PM
 
Location: So. Dak.
13,495 posts, read 34,013,292 times
Reputation: 15058
Summergal, thank you for that info. 27,000????? That is totally unreal. We'd really like to live in Fla. because we like it there and because of our extended family being there. Also, Fla. is like SD in the fact of no state income tax. BUT we've been doing a lot of checking and we're becoming quite disillusioned. It's such a nice place to visit, but it just seems unaffordable. No wonder we've been finding condos that are reasonably priced. Only the upper middle class or the upper class would be able to pay for the taxes and insurance on them.

Maybe in a year things will be settled down there, but in the meantime, I guess we'll do a bit of checking on two other states that we really like. They're not Fla., but they're nice places with nice people, too.
Reply With Quote Quick reply to this message
 
Old 12-26-2006, 11:58 PM
 
Location: Tampa Bay
598 posts, read 2,033,282 times
Reputation: 208
Jammie - not that you definately would get a bill like that, but things are so volatile right now. Just really hard to figure who's going to really get wallopped and who won't and if there is another storm here, there's no telling what will happen... lol
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 06:03 PM.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top