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02-25-2009, 12:57 PM
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A Crazy for babes Dude!
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Join Date: Mar 2007
Location: Tampa
3,114 posts, read 2,359,570 times
Reputation: 545
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Experts: More Insurers Could Pull Out Of Florida
I would be curious to know if these small companies taking on new policies would actually be able to pay out if there a big hurricane.
Where did they get the money? the premiums coming in for some new ones cant have added up that quickly yet...
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02-26-2009, 08:26 AM
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Junior Member
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Join Date: Feb 2009
Reputation: 10
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I had a mailing from People's Insurance (or whatever the name is). They said they insured only newer houses (mine was built in 2001) and indicated that our premium would be in the neighborhood of $450. They actually quoted me $1026 (more than I am paying now with Travelers) and said if I got the windinspection it could come down $400 to $500. I called Travelers and they indicated that I would have to pay for any repairs and/or enhancements suggested by the windstorm inspector and that they had never seen a reduction that large.l
The company doesn't sound good to me = although I'm sure they'll write some extra-low insurance for the publicity valuel
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02-26-2009, 08:39 AM
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Real Estate Agent
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Join Date: Sep 2007
Location: A Cypress Tree Swamp in Carrollwood
2,463 posts, read 1,724,968 times
Reputation: 3090
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Peoples' Trust is a relatively new insuror in Florida. Local brokers have told me their policies are good. I'm one of the State Farm policy holders (had it for 25 years) that's about to be dumped. Not sure what we're going to do, but our broker told us not to wait until hurricane season to do something. That's one of the most difficult times to get a new policy. There's another new company in my area writing policies...Avatar who is also pretty good.
One thing I've seen at closings is an insuror will initially bind a cheap policy to gain your business and then a few months later tell the homeowner they need more insurance. IMO, it's deceptive, but it happens. New policies should be written for full replacement value, not sales price, appraisal, or tax assessed value.
To get an idea of policy pricing in your area, the State of Florida has a sponsored website here --> Compare Homeowner's Insurance Rates
Last edited by TampaKaren; 02-26-2009 at 08:52 AM..
Reason: typo
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02-26-2009, 02:18 PM
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Member
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Join Date: Sep 2008
77 posts, read 56,359 times
Reputation: 25
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New codes also took effect in 2004, so if it was built after then, you might be able to do even better than you would if your house was built before 2004 but after 2001.
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02-26-2009, 02:20 PM
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Member
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Join Date: Sep 2008
77 posts, read 56,359 times
Reputation: 25
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Quote:
Originally Posted by TriMT7
One of the best things you can do for your insurance premium AND your home, is to get storm shutters for every window. Doing that will drop your premium price like a rock.
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They are ugly though, and a lot of HOA's wont allow them, I think. |
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02-26-2009, 02:22 PM
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In Limbo
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Join Date: Dec 2006
Location: Flamingo Park - West Palm Beach
6,318 posts, read 4,228,826 times
Reputation: 1717
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Quote:
Originally Posted by Pumpkin Eater
They are ugly though, and a lot of HOA's wont allow them, I think.
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Well you don't keep them up all year long! You just have to prove you have them for every window. |
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02-26-2009, 02:32 PM
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Member
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Join Date: Sep 2008
77 posts, read 56,359 times
Reputation: 25
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I'd actually be interested in real shutters that you fold off to the side, the real version of the fake ones everyone has on their houses these days.
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04-02-2009, 08:57 AM
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A Crazy for babes Dude!
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Join Date: Mar 2007
Location: Tampa
3,114 posts, read 2,359,570 times
Reputation: 545
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04-02-2009, 09:41 AM
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Senior Member
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Join Date: Jul 2006
Location: counting down the days till we get back to FL!!!!!
566 posts, read 619,918 times
Reputation: 76
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Quote:
Originally Posted by TriMT7
Well you don't keep them up all year long! You just have to prove you have them for every window.
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I agree! who cares if they are ugly, we had a mixture of clear and aluminum ones, we only put them up when we had hurricanes. They are for PROTECTION!!! Geez! We stored ours in the garage when we weren't using them. |
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04-04-2009, 10:16 PM
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A Crazy for babes Dude!
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Join Date: Mar 2007
Location: Tampa
3,114 posts, read 2,359,570 times
Reputation: 545
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