Homeowner\’s in FLorida has skyrocketed for several reasons:
1. We are a coastal state that can (and eventually will be) hit by tropical storms of some sort just about anywhere in the state.
2. Florida continues to be built out on the coast (Jacksonville, Pensacola, Tampa, Miami, Naples. Ft, Lauderdale, etc.) This increases the exposure to high claims by the insured\’s, which increases exposure.
Sure, the system is in crisis. Recently, Florida has attempted to help by suggesting homeowners make improvements to their homes to make them more able to withstand a storm, which decreases losses, and the voters once again are complaining that the rate decreases and discounts are not enough. I am making some of these upgrades so that I actually have a house left, not just to reduce my premium.
\”thank God for Citizens\” Are you serious?? The State price-fixes and chases away all private markets, then creates a state run insurer with higher rates (in most cases) that loses 1.8 billion and is hell to deal with. I could do without that prticular blessing.
FL needs to deregulate. If Floridians want subsidized insurance, they can continue to kid themselves. Either pay the carrier, or the taxman for Citizens bailouts.
I am sure that Allstate, State Farm, Nationwide,etc all would be extremely happy to write alot more business in FL if they could assess somebody else for the losses they pay.
Nobody has worked any magic at Citizens. They just pass the buck (many many bucks) to another person. Any idiot could have come up with that business model.
Remember all this the next time some self appointed consumer savior proposes some plan to help consumers. Assigned risk plans of all types are the same. They do more damage to consumers and tax payers than they help. It all looks great until claims come in.
Citizens screamed because they have too many policies, made agreements with companies to depopulate and then made the annnouncement that whoever doesn\’t like their take out company can come back to Citizens. ARE YOU KIDDING ME??
Come on folks, watching the back and forth of this issue is laughable. The best remedy is for all companies to tell the State of Fla to Stick it. The situation in the Sun state will not incrementally improve, only decay. It would be better to have it suffer a collapse and a rebuild than what it is going thru now. The only problem is that I would miss the antics. It is the \”Best Show in Town\”, it is a real comedy ! A laugh a minute !
Our insurance doubled a year after the fact, we made no claims after any storm. In checking with others, we apparently are lucky that the premium only went up $1200 – if you call that lucky!
Call Al Gore. His program of fear and doom promised lots of storms. The real investigation needs to answer who is financing the doom weather stories. My bet is the reinsurers and some retail insurance companies. The total of hurricanes predicted by Al\’s bunch for the 2006 season was dozens. The total that actually hit the US coast was exactly 0.
That\’s not much comfort to all of us who have to deal with these \”antics.\” Trust me, my customers are not laughing!! \”Show me the money\” seems to be the greatest show in town. The second act is \”grease the pockets of all the corrupt politicians who live on the water.\” The final act is \”lose your home because you can\’t afford it any longer.\” The encore is \”you can\’t sell your house because the cost of insurance is unreasonable, unstable, or simply unavailable.\” Factor in low wages and struggling to feed your kids. It would be funnier to be hit by a bus.
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Homeowner\’s in FLorida has skyrocketed for several reasons:
1. We are a coastal state that can (and eventually will be) hit by tropical storms of some sort just about anywhere in the state.
2. Florida continues to be built out on the coast (Jacksonville, Pensacola, Tampa, Miami, Naples. Ft, Lauderdale, etc.) This increases the exposure to high claims by the insured\’s, which increases exposure.
Sure, the system is in crisis. Recently, Florida has attempted to help by suggesting homeowners make improvements to their homes to make them more able to withstand a storm, which decreases losses, and the voters once again are complaining that the rate decreases and discounts are not enough. I am making some of these upgrades so that I actually have a house left, not just to reduce my premium.
The CEO of Citizens makes less than $250,000. Citizens Property Insurance may not be perfect, but they are not paid unreasonably.
\”thank God for Citizens\” Are you serious?? The State price-fixes and chases away all private markets, then creates a state run insurer with higher rates (in most cases) that loses 1.8 billion and is hell to deal with. I could do without that prticular blessing.
FL needs to deregulate. If Floridians want subsidized insurance, they can continue to kid themselves. Either pay the carrier, or the taxman for Citizens bailouts.
I agree with joe. I give no thanks for Citizens.
I am sure that Allstate, State Farm, Nationwide,etc all would be extremely happy to write alot more business in FL if they could assess somebody else for the losses they pay.
Nobody has worked any magic at Citizens. They just pass the buck (many many bucks) to another person. Any idiot could have come up with that business model.
Remember all this the next time some self appointed consumer savior proposes some plan to help consumers. Assigned risk plans of all types are the same. They do more damage to consumers and tax payers than they help. It all looks great until claims come in.
Citizens screamed because they have too many policies, made agreements with companies to depopulate and then made the annnouncement that whoever doesn\’t like their take out company can come back to Citizens. ARE YOU KIDDING ME??
Come on folks, watching the back and forth of this issue is laughable. The best remedy is for all companies to tell the State of Fla to Stick it. The situation in the Sun state will not incrementally improve, only decay. It would be better to have it suffer a collapse and a rebuild than what it is going thru now. The only problem is that I would miss the antics. It is the \”Best Show in Town\”, it is a real comedy ! A laugh a minute !
Our insurance doubled a year after the fact, we made no claims after any storm. In checking with others, we apparently are lucky that the premium only went up $1200 – if you call that lucky!
Call Al Gore. His program of fear and doom promised lots of storms. The real investigation needs to answer who is financing the doom weather stories. My bet is the reinsurers and some retail insurance companies. The total of hurricanes predicted by Al\’s bunch for the 2006 season was dozens. The total that actually hit the US coast was exactly 0.
That\’s not much comfort to all of us who have to deal with these \”antics.\” Trust me, my customers are not laughing!! \”Show me the money\” seems to be the greatest show in town. The second act is \”grease the pockets of all the corrupt politicians who live on the water.\” The final act is \”lose your home because you can\’t afford it any longer.\” The encore is \”you can\’t sell your house because the cost of insurance is unreasonable, unstable, or simply unavailable.\” Factor in low wages and struggling to feed your kids. It would be funnier to be hit by a bus.