What? homeowners insurance is going up again! (Miami, Orlando: property taxes, rental)

[beckycat]

I heard on the news today that they are raising insurance rates again to make up for previous hurricanes. Some companies as much as 94%, but average companies 34%. No one is going to be able to live in FL with everything going up.

[AJ67]

Yeah its true, Mine went up $300 ...i called around to get quotes and was told ," if you have ins and did'nt get dropped stay were you are "
I thought I THOUGHT , Crist struck a deal with the Ins people not to raise ins rates and give every one a discount..( every little bit helps.) I can HARDLY wait to see What Crist did with The Property Tax!

[pianogal]

Have any of you written Mr. Crist demanding an explanation? If this happens to me, I'm going to be emailing, calling Mr. Crist and my representatives. Why not call the news media and get them on board investigating. They would love it.
After all we were told we would get RELIEF not increase. Demand to know the reason. My renewal won't arrive until Nov/Dec - if it's higher I'm going to be screaming bloody murder as it almost tripled last year just before those REDUCTIONS!

[beckycat]

My insurance went up $300 this year also. It's crazy and I didn't even have any claims. Go figure.

[AJ67]

I emailed Crist to No evail...he is i guess just as mad but, from what he has said his handsa are tied except for the ( fl Govt ) pulling the plug in what they said they would do if the ins decreased...
And Doesnt florida have a Insurance Commishioner?

[rich renter]

haha, why not make the smart move and start renting so your hands are no longer tied by taxes, insurance and decreasing property values

[GregTraub]

Renting is one option.....it can delay these types of costs....but what do you think is going to happen to your rental rates when your landlord's expenses go up? Everyone pays property taxes and property insurance in one way or another.

Crist passed some re-insurance reforms when he came into office, that should have lowered insurance rates....instead the insurance companies took the cost savings and just purchased additional re-insurance (insurance for the insurance companies) So crist is a pretty miffed at them at this point.

All the insurance increases everyone has seen in the past few months were long in the making and anything mentioned about "lowering rates" refers to these now higher rates. Several Insurers just recently asked for additional rate increases from the FL Dept of Ins, and at the backing of crist flat said NO.
-News & Events - Crist leans on insurers to cut rates

I don't see rates being increased, even more, in the immediate future, But if storms continue to come through, it will either lead to citizens being the only insurer in FL, or the insurance companies need to get a little less greedy and more efficient.

[rich renter]

well i just renewed my lease today, rent will be down $40 a month once new lease kicks in

[DaveG99]

Florida Insurance rates are CRAZY! I am saving $60 a month on my car insurance because I moved to Dallas and I live downtown in one fo the highest insurance risk areas in Texas. I do not own a house yet but I am sure the rate is much lower here. Plus the housing costs in Florida are astronomical. The same house that costs $250k in Orlando can be had in Dallas for $150k. And if you think Orlando is bad you should see what they pay in Miami! My dad works for allstate insurance and lives in Miami so I know all about it. I seriously do not knwo how anyone can afford to live in Florida unless they bought a house back in the 1990's when things were cheap.