[staywarm2]

Originally Posted by hiknapster

But insurance is cheaper on other parts of the country because there are less claims and better regulation.

It has to do with Florida. Yes, there are hurricanes but it is also because the insurance industry gets carte blanche in that state. And I assure you that insurance is so much cheaper in other parts of the country.

We lived in Miami-Dade County during Hurricane Andrew in 1992. Before the hurricane home owners ins. was expensive, but after the hurricane, it went thru the roof. I think that was the beginning of the outrageous pricing.

[bigh110]

i purchased a house on a canal in monroe county (fl Keys) I checked into FL law and found out you only need to insure your house for what you owe on the mortgage. paid 191 owe 111k. I carry 111k worth of insurance for 2 of my required policies flood and wind mitigation and a required additional rider that will allow me another 40k to rebuild 14ft above sea level. If you own your home you can carry any amount of coverage for windstorm/flood you want to help defray rebuilding costs This is nice especially if you can rebuild for far less than the insurance company estimated rebuild costs. I do have a required full additional 3rd homeowners policy that covers 100% everything else (minus deductible) like fire theft or liability for injury. the 3rd policy specifically doesn't cover wind or flood damage. in the case of a hurricane demolishing my house. I would need to show that I am rebuilding the house within a specified time or give the insurance check to the mortgage company to pay off my mortgage.

[Spring Hillian]

Some posters have been advised of the incorrect information they constantly post as fact but it does not change their thought process. I have checked directly with FHP and if you show up on the computer as "no insurance" as reported by your insurance carrier, your plates get confiscated and you cannot drive the vehicle away.

The difference between a ticket and a confiscated plate is "no proof of insurance" vs. "no insurance".

Originally Posted by Billythepokerkid

Not true. If you don't have insurance they tow you, you cannot continue to drive without insurance in the state of Florida.

[TriMT7]

Here's the deal with homeowners insurance: Shop around. Take the lowest rate you can find. Period.

People think some companies offer better service than others, etc., but that's not really the case. They are all profit driven. You are not going to find one company that will pay your claim better or faster than another company. They are all bound by claims handling rules, regulations, and deadlines. They all utilize the same group of third party adjusters, engineers, etc. to assist them in adjusting claims and preparing estimates.

A lot of Citizens insured properties can be insured by smaller companies. You may take a risk that in the event of a maor catastrophe, a smaller company will go under... but here's the key: Get your claim in, and don't sit on it like an idiot for four years waiting for a roofing company to knock on your door and offer you a new roof covered by insurance!

Also, all insurance companies are backed by FIGA - the Florida Insurance Guaranty Association. If a company goes under you will always have recourse. You might have a delay in getting your money, but you will get it. Again, problems can be avoided if you file claims promptly.

[Spring Hillian]

You need to shop around. See what else is available. One big reason for this difference is population. Vermont has just over 1/2 million people. Florida has over 18 million. The odds of having a car accident are many times greater than in Vermont.

Originally Posted by vtallison

I pay $660 per year for my auto in Vermont. They said if I moved to Florida it would be $1980 a year. (progressive) So you are saying that there are less expensive auto insurers in FL because Progressive is the lowest in my state.

[JohnVosilla]

Originally Posted by Spring Hillian

You need to shop around. See what else is available. One big reason for this difference is population. Vermont has just over 1/2 million people. Florida has over 18 million. The odds of having a car accident are many times greater than in Vermont.

Vermont is a tiny state about the geographic size of three counties in Florida. Not diverse or transient like Florida. Stable population and high education levels also have something to do with it

[Spring Hillian]

Of course, how could I forget that the more educated a person is the better they drive. Certainly not diverse, not too transient, agree there.

Originally Posted by JohnVosilla

Vermont is a tiny state about the geographic size of three counties in Florida. Not diverse or transient like Florida. Stable population and high education levels also have something to do with it

[Spring Hillian]

Yes, I agree VT is small in comparison to most of the country as it less diverse and transient. However, the answer to the question posted was
completely accurate and helpful, don't you agree?

Originally Posted by JohnVosilla

Vermont is a tiny state about the geographic size of three counties in Florida. Not diverse or transient like Florida. Stable population and high education levels also have something to do with it

[Sa1vatore]

I think I might be of some assistance here..

I was formally employed with a traditional Florida insurance company and can attest to most everything that's been posted. I saw premiums skyrocket to amounts that are completely beyond belief.

A few pages back someone had very good advice.. you should consider re-shopping your coverage. There are a number of companies that can offer competitive rates for your home and vehicle. I've since moved on from my former company, and joined an independent agency group. I won't post the name, since I do not want this to be interpreted as solicitation, but I can answer any questions that you may have regarding the companies that are available.

Also, someone else mentioned the importance of wind mitigation and they are totally correct. Wind mitigation discounts are the credits that you are entitled to for having a roof that is more securely connected to your home. Certain features, such as the spacing between the roof nailing, and the clips or wraps used to secure the roof will earn you discounts that will lower your premium. Approved shutters or hurricane glass will save you money as well. These discounts require an inspection, but they are well worth it.

PM me if you have any questions specific to you personally.. or you can post any generic questions and I'll do my best to recheck this thread and provide any help I can.

[MovedfromFL]

USAA will NOT write homeowner's policies in Florida at all now.

You can still get a decent ($650 a year) price in some areas of FL (like West Central Florida) for a newer, concrete block house that is very close to a fire hydrant.

My agent told me a major risk is the sinkholes. People were making claims for sinkhole damage when the real reason for the step cracks (between the blocks) was just normal home settling in the sandy soil.