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Old 04-12-2015, 01:02 PM
 
Location: Rotonda Florida
1,393 posts, read 1,553,908 times
Reputation: 665

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Quote:
Originally Posted by Macgregorsailor51 View Post
Sorry I just dont have the answer to that one..
Sheesh... sumpeopleskids...

I s'pose it's like most everything else, the "little" guys pay but those with the money or make the rules/laws are privileged.
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Old 04-12-2015, 01:34 PM
 
Location: Florida
1,646 posts, read 3,026,543 times
Reputation: 1126
Quote:
Originally Posted by 03bluecoupe View Post
I think you're correct. But that led me to wonder how businesses burn, collect on the insurance and then don't rebuild the business.
I think it depends on if the insurance is subsidized or not. FEMA insurance, in coastal areas anyway, is commonly subsidized. Fire insurance is not.
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Old 04-12-2015, 03:41 PM
 
Location: Rotonda Florida
1,393 posts, read 1,553,908 times
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Quote:
Originally Posted by HarborRat View Post
I think it depends on if the insurance is subsidized or not. FEMA insurance, in coastal areas anyway, is commonly subsidized. Fire insurance is not.
Thanks! That would s'plain it.
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Old 04-14-2015, 07:30 PM
 
16,376 posts, read 22,486,570 times
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Quote:
Originally Posted by HarborRat View Post
I think it depends on if the insurance is subsidized or not. FEMA insurance, in coastal areas anyway, is commonly subsidized. Fire insurance is not.
Only 20% of FEMA flood insurance policies are subsidized. If the home's elevation is at/above FEMA's required elevation(height), then the home is not subsidized. It's mostly older homes that are lower in height because these homes were built before height restrictions existed. That's why they are subsidized...so they aren't penalized from bulding height rules that were put into place after the home was built.
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Old 04-17-2015, 01:30 PM
 
Location: Port Charlotte FL
202 posts, read 227,552 times
Reputation: 83
Many homes in my home town were built at a time when they were not allowed to be built higher due to local height ordinances.
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Old 04-20-2015, 07:34 AM
 
Location: Lemon Bay, Englewood, FL
3,179 posts, read 6,002,426 times
Reputation: 1170
Anyone get their new insurance bill yet? Curious to see how much increase folks are seeing...
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Old 04-20-2015, 06:08 PM
 
Location: Port Charlotte, FL - Dallas, PA
5,172 posts, read 4,945,353 times
Reputation: 5087
Quote:
Originally Posted by Harbor Hopper View Post
Anyone get their new insurance bill yet? Curious to see how much increase folks are seeing...
Got mine recently...about a 12% increase.
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Old 04-21-2015, 07:47 AM
 
Location: Lemon Bay, Englewood, FL
3,179 posts, read 6,002,426 times
Reputation: 1170
Quote:
Originally Posted by MikMal View Post
Got mine recently...about a 12% increase.
Is your property grandfathered in (subsidized)? Or is the elevation at or higher than BFE?
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Old 04-21-2015, 01:33 PM
 
Location: Port Charlotte, FL - Dallas, PA
5,172 posts, read 4,945,353 times
Reputation: 5087
Quote:
Originally Posted by Harbor Hopper View Post
Is your property grandfathered in (subsidized)? Or is the elevation at or higher than BFE?
Grandfathered. Elevation is "Top of Bottom Floor: 6.88'"
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Old 04-21-2015, 02:55 PM
 
122 posts, read 136,638 times
Reputation: 52
I thought about raising my $1000 deductible to help off-set the flood insurance increase but my agent tells me that the max deductible for our house is $1250 which only reduces the premium by $36. There's no mortgage on the house so I'm not sure why it can't be higher (waiting to hear back from agent). I thought there were typical more options for deductibles. I am curious what kinds of deductibles you folks have.
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