[sinatras]

Originally Posted by bmw335xi

Sure lol

Yeah fake news I know! So much fake news. It would be funny except it's really not a laughing matter for many Floridians. Like Dera Eads for example.

[Travelassie]

Originally Posted by beach43ofus

Again...in the 5 years I've owned my home, it's value went from $550k to $1M, so I'm up $450,000

My homeowners insurance went up $500/yr x 5 years = $2,500

$450,000 > $2,500

$450,000/5yrs = $90,000/yr

I have not spent $90,000/yr for any of the last 5 years, so Florida is paying me to live in the Free State of Florida.

Not only is my homeowners insurance free, so is EVERYTHING else! I'm making money just living here.

Well, I guess looking at it like that, I guess our house has more than doubled in value what we put into building the house over the years, even subtracting what we have paid in homeowner's insurance.. Though we don't plan to sell it any time soon, despite multiple offers to buy it via phone calls, emails,,and even driveby wanna be transplants looking for a nice place to live.

[Travelassie]

Originally Posted by bmw335xi

I repeat, insurance rates are not doubling every year for the average Floridian. If that were the case, people with $2k premiums in 2020 would be looking at $64,000 premiums next year and $128,000 premiums in 2026.

You clearly do NOT live in Florida or have never owned a home in Florida.

Thank you for making that crystal clear lol.

Our insurance rates have gone up every year, but nowhere close to doubling. More like in the range of a couple hundred a year. But then I also see the limits of coverage from this particular insurance company also increase each year to adjust for inflation.

[bmw335xi]

Originally Posted by sinatras

Yeah fake news I know! So much fake news. It would be funny except it's really not a laughing matter for many Floridians. Like Dera Eads for example.

LOL... yes Dera Eads the poster child for the average Floridian who will be paying $1M per year for homeowners insurance a few years from now. You already exposed yourself, it's fine.

[bmw335xi]

Originally Posted by Travelassie

Our insurance rates have gone up every year, but nowhere close to doubling. More like in the range of a couple hundred a year. But then I also see the limits of coverage from this particular insurance company also increase each year to adjust for inflation.

Yes, this is true and realility. Some people don't realize how "dumb" for lack of a better word making outlandish statements like homeowners' insurance is doubling each year for the average Floridian. The law of compounding would bring the average premium to $100k per year very quick if that were the case. A policy that was $5k in 2021 would be $40k now and $80k next year and $160k the following year according to one of the members above.

[sinatras]

Originally Posted by bmw335xi

Yes, this is true and realility. Some people don't realize how "dumb" for lack of a better word making outlandish statements like homeowners' insurance is doubling each year for the average Floridian. The law of compounding would bring the average premium to $100k per year very quick if that were the case. A policy that was $5k in 2021 would be $40k now and $80k next year and $160k the following year according to one of the members above.

You bring up an excellent point. How high can insurance premiums go in Florida. We shall find out!

[Sunshine Rules]

Our previous insurance company dropped us last year because they were leaving SW FL. A replacement policy with another company cost almost twice as much as our previous policy, coming in at $1860. However, we just received a renewal notice for this year and the cost went up less than $100. I can cope with that.

[RayHammer]

Originally Posted by beach43ofus

https://insurify.com/homeowners-insu...lity-by-state/
I'm refuting insurify's claim that a $300k Florida home costs on average of $9,200 to insure. No way.
I'm calling b.s. on this insurify report, which has gone viral nationally, & has spawned off Hundreds of fake news articles.

The extreme left is pulling out all the stops to attack Florida from any toehold they can, even if the grasp is tenuous or the claims quite the stretch. Even where there might be a shred of truth from the media, they will take anything ridiculously out of context (see Trump's "bloodbath" comment from about 3 weeks ago that even they had to dial down quickly) and run with it for as hard and long as they can.

It's laughable, but they are the ones spewing disinformation here.

They don't like DeSantis (I don't care for DeSantis or Trump either) and so they need to attack the state of Florida and its residents on issues that have very little to do with politics, even to the point of claiming that Floridians are moving out of the state (not true) due to insurance costs. The handful of people who do move out are likely doing so for jobs, some amount of churn is normal anywhere, but we can never know the actual reasons unless we ask every single person. Regardless, the net inflow into Florida is very high, only Texas has a higher draw, although South Carolina might be higher than both in percentage terms.

[Corrie22]

^ correct

1/4 million people move out of Florida each year....every year.....a normal year
....let's find 1/2 doz and write a hit piece on Florida LOL

Florida's population is increasing over 1/4 million a year.....over twice as many people are moving in as moving out..

[beach43ofus]

The States people are moving out of (to come to Florida) are losing Billions of Dollars in tax revenues to Florida (income, sales, & property taxes).

AND, Billions in lost commerce when they bring their nest egg down here to spend, instead of spending it up North.

Many transplants bring 7 figure nest eggs down here with them.

Add lost taxable income to lost taxable commerce, the cumulative losses for them is in the Trillions.

Add that to the political polarization, and you have plenty of fuel for a media powder keg to be hurled at Florida.

That is what's driving the hate Florida media barrage....& its not going to stop here either....first we had the covid no lock down & no forced masking, & schools open attacks, then the Disney "don't say gay" attacks, book banning attacks, & now the homeowners insurance attacks.

When we get Red Tide, or a Hurricane, they can't wait to pounce on all things Florida. Even a dead Whale and an Alligator in a lady's kitchen in Venice, makes front page news of the New York & DC newspapers.

They'll do anything to stop people and Billions of $'s from moving here. They couldn't wait to spew the Hurricane forecast for Florida all around the media...don't move to Florida or a Hurricane, Alligator, Pythons or Red Tide will get you...& high insurance costs doubling every year.