[lionking]

Yesterday I spent a hour on the phone with my mortgage and insurance agent.My mortgage company sent me a new payment statement based on the was to be insurance increase which for me is $200 extra a month.

I told the mortgage person that they cancelled the rate hike and that they need to revise my payment schedules back to the lower rate.They said they paid out the renewal last month and that I need to contact my insurance agent to find out on refunds so they can adjust my monthly payment.

Soooo....I call my insurance agent,they say that a check was cut on 1/22 and I should recieve it in the mail but based on my refund ($460)it does'nt bring my payment down to '06 rates..I asked them then that why after the refund my windstorm is still going up a $100 a month($400+ for the year).They said that they raise the coverage annually based on the assumption of appreciation in value and by law they are allowed to do this without my consent therefore my rates still increased..They said that I must show proof from a appraiser to lower my coverage back down.They increased my coverage $8000 which is $400 more a year yet my payment goes up $100 a month because?

This sounds wrong,how can they increase my coverage without my consent?Is this a ploy to just try and get more money out of me?And $8000 more in coverage somehow does not seem to equate to $100 more a month?(400+ for the year) $100 more a month to cover escrow balance.

[Magnolia Bloom]

Sounds hokey to me. I've gotten help and answers from the state Office of Insurance Regulation. Here's the link:

http://www.floir.com/consumerinitiatives/consumerlinksofinterest.htm (broken link)

[lionking]

thanks for the reply though I didnt find any info as far as what they can charge..Can I get any more opinions?

[cmj_fla]

I would suggest calling other Homeowner's insurance companies and have them give you quotes. You can change your insurance at anytime and not have to pay anything out of pocket. You can tell them your situation and they can tell you what they think and then give you a quote to see if would be lower elsewhere.

[new guy in town]

Which homeowner's insurance companies within FL seem to be the most reliable and affordable? Basically who's the cheapest?
I'm moving down to the Oviedo area and Nationwide won't transfer my HO ins. to FL.
Thanks.

[maggiekate]

hi, not many will right here.l if you go with allstate they have royal palm
you need to call an allstate agent and then give them your zip code.
you may be placed with citizens. anyway check it out. you also could check with independent agents, and see who they might have. it all depends on the age of the house and the zip code. good luck

[maggiekate]

Originally Posted by lionking

Yesterday I spent a hour on the phone with my mortgage and insurance agent.My mortgage company sent me a new payment statement based on the was to be insurance increase which for me is $200 extra a month.

I told the mortgage person that they cancelled the rate hike and that they need to revise my payment schedules back to the lower rate.They said they paid out the renewal last month and that I need to contact my insurance agent to find out on refunds so they can adjust my monthly payment.

Soooo....I call my insurance agent,they say that a check was cut on 1/22 and I should recieve it in the mail but based on my refund ($460)it does'nt bring my payment down to '06 rates..I asked them then that why after the refund my windstorm is still going up a $100 a month($400+ for the year).They said that they raise the coverage annually based on the assumption of appreciation in value and by law they are allowed to do this without my consent therefore my rates still increased..They said that I must show proof from a appraiser to lower my coverage back down.They increased my coverage $8000 which is $400 more a year yet my payment goes up $100 a month because?

This sounds wrong,how can they increase my coverage without my consent?Is this a ploy to just try and get more money out of me?And $8000 more in coverage somehow does not seem to equate to $100 more a month?(400+ for the year) $100 more a month to cover escrow balance.

i think it is legal, when i had travelers my rate every year went up 5 per-cent.
last year i paid 1200 this year it goes to over 2100. anyway i now have royal palm for 1093. however, i bought less coverage no replacent on contents.
i would return to travlers only i expect if i do they will give me a non-renew which they already did. they only want me, because they have to. do a search on google insurance crisis in florida.

[cmj_fla]

Originally Posted by new guy in town

Which homeowner's insurance companies within FL seem to be the most reliable and affordable? Basically who's the cheapest?
I'm moving down to the Oviedo area and Nationwide won't transfer my HO ins. to FL.
Thanks.

Not many insurance companies are writing right now because of that new law that forced them to not raise rates however, Universal Insurance is still writing and they are pretty reasonable. I would suggest going to a Horace Mann agent in your area to write it for you. They usually only work with educators but they can write Universal for anyone. They have a great reputation and won't kill you with their commission. Hope this helps!

[funfettigirl]

yes i feel what you are going through last week i got a letter saying mine was cancelled also and in the letter they gave you one choice someone else and they wanted to raise mine 500.00 so i just started looking around thier are other places that will insure you for less i called charlies office and they gave me really good advice thier is this place you can call and they will help you find someone else at no charge thier number is 8005249023 you have time at least i have 30 days left that place is called florida assit well good luck

[mystree]

It sounds like robbery to me,I don't understand their increases especially when there where no hurricanes last year. I truely feel bad for floridians they (the insurance companies) seem to be taking you people for every penny they can get.