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Old 03-15-2023, 07:41 AM
 
18 posts, read 12,871 times
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Anyone else feeling these rates go through the roof? My flood insurance went up 5 times.
What state would you go to if you left Florida. It's getting so expensive
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Old 03-17-2023, 05:21 AM
 
788 posts, read 783,933 times
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Western NC in a valley area of the mountains that aid with controlling adverse weather conditions year round - Moved 25 years ago .
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Old 03-17-2023, 06:24 AM
 
17,285 posts, read 22,006,628 times
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Quote:
Originally Posted by gumon View Post
Anyone else feeling these rates go through the roof? My flood insurance went up 5 times.
What state would you go to if you left Florida. It's getting so expensive
Ok flood rates are set by FEMA, not by the state of Florida. They also acknowledged years ago (Oct 2021) that the rates were artificially low (subsidized) and they would be raising them.

So it doesn't matter if you live in NJ or Naples, if you live in a low flood zone your rates went up 5X
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Old 03-17-2023, 06:26 AM
 
Location: 49th parallel
4,605 posts, read 3,296,304 times
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It's not only flood rates that went up; any condo or other homeowner saw his insurance rate go up from 20 to 50 percent. The insurance companies obviously are through taking risks, which is what we hire them to do - so it's time for a re-think on how we prepare for emergencies in Florida.
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Old 03-17-2023, 08:52 PM
 
Location: Chicago,IL and Estero,FL
122 posts, read 201,131 times
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Quote:
Originally Posted by ndcairngorm View Post
It's not only flood rates that went up; any condo or other homeowner saw his insurance rate go up from 20 to 50 percent. The insurance companies obviously are through taking risks, which is what we hire them to do - so it's time for a re-think on how we prepare for emergencies in Florida.
I live in a condo and my insurance has not gone up at all. Either did my parents. We both have State Farm. In fact I pay less in home insurance here than my condo in Chicago.
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Old 03-18-2023, 06:32 AM
 
Location: 49th parallel
4,605 posts, read 3,296,304 times
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Well, you must be the only person in Florida who hasn't seen increases. The headlines are full of irate homeowners and condo owners who are being forced to sell because they cannot afford the special assessments for insurance being applied this year.
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Old 03-18-2023, 08:16 AM
 
15,407 posts, read 7,468,300 times
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Quote:
Originally Posted by ndcairngorm View Post
It's not only flood rates that went up; any condo or other homeowner saw his insurance rate go up from 20 to 50 percent. The insurance companies obviously are through taking risks, which is what we hire them to do - so it's time for a re-think on how we prepare for emergencies in Florida.
Insurance companies are still taking risks, but are pricing their coverage more in line with reality.
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Old 03-18-2023, 09:16 PM
 
Location: Chicago,IL and Estero,FL
122 posts, read 201,131 times
Reputation: 167
Quote:
Originally Posted by ndcairngorm View Post
Well, you must be the only person in Florida who hasn't seen increases. The headlines are full of irate homeowners and condo owners who are being forced to sell because they cannot afford the special assessments for insurance being applied this year.
Not in a flood zone, new construction. No hurricane damage. State Farm. Please show me someone who had their insurance go up with this criteria. I'm not the only one. Geez.
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Old 03-19-2023, 06:20 AM
 
Location: New England
3,848 posts, read 7,959,252 times
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Quote:
Originally Posted by gumon View Post
Anyone else feeling these rates go through the roof? My flood insurance went up 5 times.
What state would you go to if you left Florida. It's getting so expensive
We originally went to NC and that wasn't as cheap as most ppl say. Given we were in a major city but the state overall had a pretty high income tax (5.25%), plus car property tax, car inspection, and the state does not tax exempt food, clothing, or electronics from sales tax. We paid city and state sales tax on all the items. I was reading the news there in Charlotte the other day and saw home assessment taxes went up around 51% this year and people are irate. So some people are paying close to the cost of New England property taxes in parts of NC and getting low ranking education, low ranking medical care, high crime etc.

We ended up heading back to New England and have been more than happy with our decision. With the current political climate of the south and having a young teenage daughter I'm happy we did anyways. I think had we stayed in Fla Desantis and his agenda with the book banning, reporting periods etc etc would have forced our hand in the end. It was the right choice for us.
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Old 03-19-2023, 06:42 AM
 
71 posts, read 65,153 times
Reputation: 106
Quote:
Originally Posted by agstacker View Post
I live in a condo and my insurance has not gone up at all. Either did my parents. We both have State Farm. In fact I pay less in home insurance here than my condo in Chicago.
If this is true it's an anomaly. I do not know a single policy-holder whose insurance rates have not increased, in some cases dramatically - also most auto policies as well.


Hmm...count your blessings or prepare to get slammed shortly - or better yet, check to see if you're cancelled and you don't know it.
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