and then I came sprinkling magic fairy dust along all of the Florida coast thereby insuring no big bad hurricanes would ever strike again.
but then those big bad insurance companies came along and still charged my \”hard working\’ residents of south miami outrageous rates and threatend their economic health and well being.
If you live in a state where natural disasters are common place, then the cost of living in the state needs to include the cost of the disasters. Rates are a reflection of experience â€â€Ŕ whether it is a state run program or private carrier. Insurance carriers, like any other company, needs to make a reasonable profit to remain in business. If you don’t like the rate, move â€â€Ŕ the rest of the country should not have to pick up the tab.
Rate is king if you want to stay viable as a property carrier in Florida. Rate allows you to pay claims, reinsure your book and if you are lucky, only post a 102% combined ratio. Phil is right on the money… if you want to play, you have to pay. Just like Mr. Gelder… of course, nobody mentions what kind of a MANSION he must live in to get a premium INCREASE of $7000? The most any one area was allowed to go up was, I believe, 40%. If you consider that the rule of thumb is $1000 for every $100K of Cov A, you do the math. I don\’t think Mr. Gelder will be going broke any time soon.
I would love to see these \”pay to play\” people 20 years from now when their insurance premiums cost them the homes they\’ve lived in for 20 years.
Florida was NOT a prime target for Cat 3, 4, and 5 hurricanes until last year. Andrew about 15 years ago. Retired people who have lived here on FIXED INCOMES for 15-30 years are now losing their homes due to these rate increases.
Yes, people that have moved here in the last 2 years should know what they\’re facing. But people who have lived here since the 80\’s or longer had NO idea this was coming.
I\’m sick of people saying that people that live in Fla should \’know better\’. When I bought my home in 2000, it had 1 claim in 50 years. Yes, during a storm a tree fell on the roof. BACK IN 1974. Now I\’m facing a $2800 increase in premiums. Plus $8K in deductibles in the last 2 years. I want to know how I should have \’known\’ this was coming.
And with 2 small children, 2 careers, and over 15 years in this area, picking up and moving might sound like it\’s easy to a lot of the \’pay to players\’, but it\’s not. And BTW- where do I go? Tornados, mudslides, crime, fires, blizzards, earthquakes……….
The only thing I see obscene about the rate problem is you want me to pay for some one else. I would like to cover my own but not if I have to still bare yours. 12 years of our state being in the insurance buis and they now know why they ran others out.
HEY LADY…IF YOU CAN\’T AFFORD THE INSURANCE TOO BAD…DAMN NEAR EVERYONE HAD A FIXED INCOME…POOR OLD PEOPLE..GIVE ME A BREAK…IF YOU DONT LIKE IT MOVE TO ARIZONA OR BETTER YET MOVE TO CUBA OR VENEZUELA…GIVE ME A BREAK TO SAY \”THEY DIDN\’T KNOW THAT WE ARE HURRICANE PRONE\” IS THE BIGGEST CROCK!!!!WE ARE IN THE CARRIBBEAN FOR GOD SAKE. IF THERE ARE NO PROFITS IN INSURANCE THERE WILL BE NO COMPANIES OUT THERE TO OFFER COVERAGE…A HIGHSCHOOL ECONOMICS CLASS WILL TEACH YOU THAT. YOUR ARGUMENT WILL BE LET THE STATE HANDLE IT, WELL TO THAT I WOULD THEN HAVE TO ASK YOU IF THE GOV\’T DOES EVERYTHING SO WELL WHY DON\’T YOU LIVE IN PUBLIC HOUSING? WHY DO YOU DRIVE A CAR AND NOT TAKE PUBLIC TRANSPORTATION? WHY DON\’T YOU GO TO GOV\’T HEALTH CLINICS FOR MEDICAL CARE? THE FACT OF THE MATTER IS THIS…99.5% OF THINGS THE GOV\’T GET\’S THEIR HANDS INTO TURN INTO A MESS THAT COSTS TAXPAYERS WAY TO MUCH. YOUR COMMENTS GO COMPLETELY AGAINST LOGIC AND REASON. YES PEOPLE MAY NOT BE ABLE TO PROCURE INSURANCE FOR A PERIOD AND IF YOU CANNOT AFFORD TO SELF INSURE YOU SHOULD MOVE TO SOMEWHERE ELSE…AND TO SAY THAT FIRE, CRIME, ETC. AFFECT THE INDUSTRY MORE THAN HURRICANES IS OUTRAGEOUS…WHEN IS THE LAST TIME YOU HEARD OF AN INSURANCE COMPANY GOING INSOLVENT FROM A TORNADO, FIRE, OR MUDSLIDE??????????GET REAL…SOCIALISM DOES NOT WORK
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and then I came sprinkling magic fairy dust along all of the Florida coast thereby insuring no big bad hurricanes would ever strike again.
but then those big bad insurance companies came along and still charged my \”hard working\’ residents of south miami outrageous rates and threatend their economic health and well being.
Comrade Gelber has learned well and makes me proud.
If you live in a state where natural disasters are common place, then the cost of living in the state needs to include the cost of the disasters. Rates are a reflection of experience â€â€Ŕ whether it is a state run program or private carrier. Insurance carriers, like any other company, needs to make a reasonable profit to remain in business. If you don’t like the rate, move â€â€Ŕ the rest of the country should not have to pick up the tab.
Rate is king if you want to stay viable as a property carrier in Florida. Rate allows you to pay claims, reinsure your book and if you are lucky, only post a 102% combined ratio. Phil is right on the money… if you want to play, you have to pay. Just like Mr. Gelder… of course, nobody mentions what kind of a MANSION he must live in to get a premium INCREASE of $7000? The most any one area was allowed to go up was, I believe, 40%. If you consider that the rule of thumb is $1000 for every $100K of Cov A, you do the math. I don\’t think Mr. Gelder will be going broke any time soon.
Right on, Bro. Phil.
I would love to see these \”pay to play\” people 20 years from now when their insurance premiums cost them the homes they\’ve lived in for 20 years.
Florida was NOT a prime target for Cat 3, 4, and 5 hurricanes until last year. Andrew about 15 years ago. Retired people who have lived here on FIXED INCOMES for 15-30 years are now losing their homes due to these rate increases.
Yes, people that have moved here in the last 2 years should know what they\’re facing. But people who have lived here since the 80\’s or longer had NO idea this was coming.
I\’m sick of people saying that people that live in Fla should \’know better\’. When I bought my home in 2000, it had 1 claim in 50 years. Yes, during a storm a tree fell on the roof. BACK IN 1974. Now I\’m facing a $2800 increase in premiums. Plus $8K in deductibles in the last 2 years. I want to know how I should have \’known\’ this was coming.
And with 2 small children, 2 careers, and over 15 years in this area, picking up and moving might sound like it\’s easy to a lot of the \’pay to players\’, but it\’s not. And BTW- where do I go? Tornados, mudslides, crime, fires, blizzards, earthquakes……….
The only thing I see obscene about the rate problem is you want me to pay for some one else. I would like to cover my own but not if I have to still bare yours. 12 years of our state being in the insurance buis and they now know why they ran others out.
HEY LADY…IF YOU CAN\’T AFFORD THE INSURANCE TOO BAD…DAMN NEAR EVERYONE HAD A FIXED INCOME…POOR OLD PEOPLE..GIVE ME A BREAK…IF YOU DONT LIKE IT MOVE TO ARIZONA OR BETTER YET MOVE TO CUBA OR VENEZUELA…GIVE ME A BREAK TO SAY \”THEY DIDN\’T KNOW THAT WE ARE HURRICANE PRONE\” IS THE BIGGEST CROCK!!!!WE ARE IN THE CARRIBBEAN FOR GOD SAKE. IF THERE ARE NO PROFITS IN INSURANCE THERE WILL BE NO COMPANIES OUT THERE TO OFFER COVERAGE…A HIGHSCHOOL ECONOMICS CLASS WILL TEACH YOU THAT. YOUR ARGUMENT WILL BE LET THE STATE HANDLE IT, WELL TO THAT I WOULD THEN HAVE TO ASK YOU IF THE GOV\’T DOES EVERYTHING SO WELL WHY DON\’T YOU LIVE IN PUBLIC HOUSING? WHY DO YOU DRIVE A CAR AND NOT TAKE PUBLIC TRANSPORTATION? WHY DON\’T YOU GO TO GOV\’T HEALTH CLINICS FOR MEDICAL CARE? THE FACT OF THE MATTER IS THIS…99.5% OF THINGS THE GOV\’T GET\’S THEIR HANDS INTO TURN INTO A MESS THAT COSTS TAXPAYERS WAY TO MUCH. YOUR COMMENTS GO COMPLETELY AGAINST LOGIC AND REASON. YES PEOPLE MAY NOT BE ABLE TO PROCURE INSURANCE FOR A PERIOD AND IF YOU CANNOT AFFORD TO SELF INSURE YOU SHOULD MOVE TO SOMEWHERE ELSE…AND TO SAY THAT FIRE, CRIME, ETC. AFFECT THE INDUSTRY MORE THAN HURRICANES IS OUTRAGEOUS…WHEN IS THE LAST TIME YOU HEARD OF AN INSURANCE COMPANY GOING INSOLVENT FROM A TORNADO, FIRE, OR MUDSLIDE??????????GET REAL…SOCIALISM DOES NOT WORK
Dawn…You\’re an idiot. Did you bother to take a minute and consider the ridiculous comment you posted?
I\’m sick and tired of high horse moral highground morons telling 90 year old people that they deserve to be homeless after 35 years.
Arizona has brush fires, BTW- fire insurance is just as bad there. So that\’s not a state for smart people, either, I guess.
So where do the smart people live? Please enlighten me.
I lived near DC for 20 years, too. Auto insurance is the same there.
It reminds me of gas prices. $3 a gallon, oil companies crying that it has to be this way, and Exxon brags about the highest income EVER.