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Old 03-03-2007, 11:40 AM
 
Location: Miami. Florida
942 posts, read 2,366,329 times
Reputation: 892

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Quote:
Originally Posted by Need_affordable_home View Post
The mortgage will be paid off then you can cancel. They would cancel even with a mortgage if they were allowed to. Those who own the house "free and clear" are allowed to self insure and my parents may do just that, they will save more because those insurance companies ask too much.

My aunt and uncle have there mortgage paid off. They cannot afford to pay homeowners insurance. The county Miami-Dade told them if they did NOT have homeowners insurance they were no longer able to use there senior citizen homeowners tax discount. You know like the homestead exemption. Can you believe that????
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Old 03-04-2007, 01:51 PM
 
Location: Living in Paradise
5,702 posts, read 22,240,710 times
Reputation: 2987
Quote:
Originally Posted by confused and relocating View Post
My aunt and uncle have there mortgage paid off. They cannot afford to pay homeowners insurance. The county Miami-Dade told them if they did NOT have homeowners insurance they were no longer able to use there senior citizen homeowners tax discount. You know like the homestead exemption. Can you believe that????
I believe that is not mandatory to have HOI is you paid your morgage. The county cleark needs to show the directive or procedure that sites such demand. I will check the MIami-Dade county site and review the rules of engagement....
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Old 03-04-2007, 03:24 PM
 
2,313 posts, read 2,396,540 times
Reputation: 471
Quote:
Originally Posted by confused and relocating View Post
My aunt and uncle have there mortgage paid off. They cannot afford to pay homeowners insurance. The county Miami-Dade told them if they did NOT have homeowners insurance they were no longer able to use there senior citizen homeowners tax discount. You know like the homestead exemption. Can you believe that????
In checking the last few days I learned that there are only a few counties that require the insurance provider to sell you windstorm, and they will not sell you a policy with out it. Dade, Broward, Palm Beach and a few others, although I am in the process of getting a definitive answer from my underwriter. Point being, they will be without any liability or fire. I don't know what their resources are but being without any liability scares me a lot. Losing a house to a storm is one thing, getting hit with a multi million dollar law suit is another.
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Old 03-04-2007, 08:50 PM
 
Location: Living in Paradise
5,702 posts, read 22,240,710 times
Reputation: 2987
Quote:
Originally Posted by confused and relocating View Post
My aunt and uncle have there mortgage paid off. They cannot afford to pay homeowners insurance. The county Miami-Dade told them if they did NOT have homeowners insurance they were no longer able to use there senior citizen homeowners tax discount. You know like the homestead exemption. Can you believe that????
I could not find any reference to the above statement. Have you uncle visit the county office and ask for a formal answer,they need to show the regulation.
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Old 03-21-2007, 08:48 PM
 
Location: Melbourne, FL
2 posts, read 3,472 times
Reputation: 10
Quote:
Originally Posted by younglisa7 View Post
This does not include Citizens. They can still raise their prices.

Good luck collecting money from the lower priced insurance companies when
you need it. If they don't have enough money after a hurricane they can go
out of business.
Good luck collecting from ANY insurance co. I am now self insured because I cannot make myself pay $3700 a year for homeowner's insurance with high deductibles. We have lived in our home for 38 years and after the 3 storms in '04 we called the insurance co ,as instructed by a letter from our agent, and had an adjustor come out and asses the damage, if any, to our home. He told us there was no damage that would exceed the $1500 (plus 15% of the total) deductible. The insurance co. refused to renew our policy without informing us. They just didn't cash the check. It was 3 months before i inquired about and was told that I had no insurance and the 30 day limit on an appeal was past. Now I'm told that because I have no prior coverage, live in a coastal community, and have a house that was built more than 40 years ago, none of the regular companies will write coverage. Citizens will write coverage at $3700 a year. No thanks. Our home has been through ten hurricanes and one tornado while we've lived in it and I could build a home from the ground up, if it is completely destroyed, for less than $100K. I'll just have to take my chances.
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Old 03-21-2007, 08:55 PM
 
Location: Living in Paradise
5,702 posts, read 22,240,710 times
Reputation: 2987
Quote:
Originally Posted by stanrhoden View Post
Good luck collecting from ANY insurance co. I am now self insured because I cannot make myself pay $3700 a year for homeowner's insurance with high deductibles. We have lived in our home for 38 years and after the 3 storms in '04 we called the insurance co ,as instructed by a letter from our agent, and had an adjustor come out and asses the damage, if any, to our home. He told us there was no damage that would exceed the $1500 (plus 15% of the total) deductible. The insurance co. refused to renew our policy without informing us. They just didn't cash the check. It was 3 months before i inquired about and was told that I had no insurance and the 30 day limit on an appeal was past. Now I'm told that because I have no prior coverage, live in a coastal community, and have a house that was built more than 40 years ago, none of the regular companies will write coverage. Citizens will write coverage at $3700 a year. No thanks. Our home has been through ten hurricanes and one tornado while we've lived in it and I could build a home from the ground up, if it is completely destroyed, for less than $100K. I'll just have to take my chances.
What is your location in Melbourne?
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Old 03-21-2007, 09:00 PM
 
Location: Melbourne, FL
2 posts, read 3,472 times
Reputation: 10
I live on Sarno Rd. (1894)
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Old 04-01-2007, 07:23 AM
 
Location: Satellite Beach, FL
149 posts, read 642,538 times
Reputation: 38
stanrhoden:

we are trying to decide between jupiter/palm bch gardens area and satellite bch/melbourne. we have 18mth old twin girls. can you give me your opinions on your area? i here palm bay is famous for meth labs?? i apreciate your input.

kr
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Old 04-01-2007, 12:22 PM
 
Location: Pennsylvania and Florida
142 posts, read 528,725 times
Reputation: 36
Quote:
Originally Posted by macguy View Post
In checking the last few days I learned that there are only a few counties that require the insurance provider to sell you windstorm, and they will not sell you a policy with out it. Dade, Broward, Palm Beach and a few others, although I am in the process of getting a definitive answer from my underwriter. Point being, they will be without any liability or fire. I don't know what their resources are but being without any liability scares me a lot. Losing a house to a storm is one thing, getting hit with a multi million dollar law suit is another.
Most HO policys will not cover anything near a multimillion dollar claim.
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Old 04-01-2007, 12:25 PM
 
Location: Pennsylvania and Florida
142 posts, read 528,725 times
Reputation: 36
Quote:
Originally Posted by sunrico90 View Post
What is your location in Melbourne?

They can't cancel without notification. There is a standard amount of time for notification. I forget what it is but think it is 90 days..

Last edited by in2dadark; 04-01-2007 at 12:27 PM.. Reason: typo
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