First of all, the insurance industry is not \”boasting\” to the public about profits. The media is making this an issue.
Second, the 500% increases are due to the state of Florida artificially surpressing insurance rates for the last 15 or more years.
Third, you don\’t have a RIGHT for anything related to the cost of a product! You have the right to buy or not to buy; move or not to move; chenge jobs or not change jobs!
Any finally, my last raise was 7%. Quite nice, but no where near 500%.
Disney just reported a 27% surge in earnings and CVS drug stores also reported 34% increase in earnings !!! I think Charlie should take a shot at the tourism industry and run all of the tourists out of the state and make Disney lower the ticket prices so poor floridians can go to the parks.
Charlie should also go after the drug stores that are making record profits on the backs of floridians.
You stated \”you think it is fair for someone to pay $8700 a year to insure a 900sq foot home (NOT on the water)\”
Just out of curiosity, where do you live that makes your rates that high? Or were you unable to insure your home with a carrier other than Citizens?
Just curious because my premium is nowhere near that high and my home is larger. Are you in a flood zone? Does that include your flood premium? Did you purchase flood insurance?
I live in Florida too but in Central Fl. Are you in South Florida? Almost everything down there is much more expensive than here.
How will your $8,700 premium look when you have an assessment of who knows what on top of that because our Charlie forgot to tell the Floridians that we are fine unless we have a storm. It is pretty bad when you have large insurance companies who refuse to go over Citizens as a primary. Does that tell you anything?
Jewel,
To answer your questions…the home is located in Hudson, which is in Pasco County, which is an hour and a half north of Tampa and an hour and a half south of Ocala. It is on the \”West\” side of US 19 which means there are no other insurance companies writing on that side of US 19 no matter how far you are from the Gulf. The insurance is through Homewise Insurance which is an approved \”take-out\” company through Citizens Insurance. The coverage does include a $400 premium for flood coverage.
Here\’s another one…my parents cancelled their wind portion of their policy due to the fact it was too expensive, now they pay $1900 a year for fire, theft, and liability. Where else in the US is fire, theft, and liability that high??
Another one…I have a friend who lives in Monroe County (the Florida Keys) she owns a 1600sq foot home that is not on the water either and her premium is just over $10,000 a year….fair?
So you really think that $8700 is an honest and fair premium? By the way Florida has gone many, many years without a storm and as you can see by last years faile prediction of 17 storms they can NOT predict the future!
Yes but Disney did not raise their ticket price by 500% nor did CVS because if they did no one would go there because you don\’t HAVE to go to Disney but you do HAVE to purchase insurance if you have a mortgage!!!
First of all, the insurance industry is not \”boasting\” to the public about profits. The media is making this an issue.
Oh that\’s right they only BOAST to their stockholders!
Second, the 500% increases are due to the state of Florida artificially surpressing insurance rates for the last 15 or more years.
PLEASE!!! are you kidding me! What about the 15 years of record profits! Were they suppressed then!
Third, you don\’t have a RIGHT for anything related to the cost of a product! You have the right to buy or not to buy; move or not to move; chenge jobs or not change jobs!
We DO have the right for affordable coverage and our Governor was elected to serve the people and see to it that we not get screwed by greedy companies like the insurance industry. Secondly We don\’t have the right to buy or not to buy when you have to purchase insurance as a condition of your mortgage…it\’s not like choosing to by a chocolate bar or not to buy one!
Any finally, my last raise was 7%. Quite nice, but no where near 500%. HELLOOOO, that is exactly my point! If you pay is not going up like your insurance premius than how do they expect people to pay for these increases! It dosen\’t take a rocket scientist to figure this one out!
Step into the real world… utopia is a pipe dream.
I am not looking for utopia just for less greedy businesses and if it takes an act of congress to bring the insurance companies back to earth then so be it!
I\’m not quite sure whether I would consider your rates fair or unfair. On the one hand, you do live extremely close to the gulf which greatly increases your chances of a hurricane wiping out your home. I live more towards the east coast of Florida, but a lot more inland than you. I am not located in a designated flood zone and would not anticipate flood, but have the coverage in place just in case.
As for your friend in the Keys, there is more water than land down there. For the exposure, a higher rate is definitely justified. I am not an actuary, though, and do not know what the rates \”should\” be. However, $10k seems like a small price to pay should the entire home get wiped out (I assume flood coverage is included?).
As for being \”on the water\” you don\’t necessarily have to live RIGHT on the water to get wiped out by a hurricane. That is evident. So, that mindset really doesn\’t \”work\”. You are extremely close to the water, please keep that in mind.
That being said, I understand these huge increases in premiums are probably the bigger problem. Who would want the price of gas to triple (oh wait, it has) over the price it was a few years ago…
In my opinion, I think it is fair to pay a company $xxx if they are going to give me much more should my home be destroyed. The fact that you pay so much more is unfortunate, but again, I do live a lot further inland. On the other hand, my parents live in So. Florida and their premium is about the same as your friend\’s in the Keys and the home is larger and further inland.
So, while I feel for you and your high rates, I don\’t agree with your logic (you don\’t live ON the water, etc.)
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First of all, the insurance industry is not \”boasting\” to the public about profits. The media is making this an issue.
Second, the 500% increases are due to the state of Florida artificially surpressing insurance rates for the last 15 or more years.
Third, you don\’t have a RIGHT for anything related to the cost of a product! You have the right to buy or not to buy; move or not to move; chenge jobs or not change jobs!
Any finally, my last raise was 7%. Quite nice, but no where near 500%.
Step into the real world… utopia is a pipe dream.
Disney just reported a 27% surge in earnings and CVS drug stores also reported 34% increase in earnings !!! I think Charlie should take a shot at the tourism industry and run all of the tourists out of the state and make Disney lower the ticket prices so poor floridians can go to the parks.
Charlie should also go after the drug stores that are making record profits on the backs of floridians.
You stated \”you think it is fair for someone to pay $8700 a year to insure a 900sq foot home (NOT on the water)\”
Just out of curiosity, where do you live that makes your rates that high? Or were you unable to insure your home with a carrier other than Citizens?
Just curious because my premium is nowhere near that high and my home is larger. Are you in a flood zone? Does that include your flood premium? Did you purchase flood insurance?
I live in Florida too but in Central Fl. Are you in South Florida? Almost everything down there is much more expensive than here.
Ginny,
How will your $8,700 premium look when you have an assessment of who knows what on top of that because our Charlie forgot to tell the Floridians that we are fine unless we have a storm. It is pretty bad when you have large insurance companies who refuse to go over Citizens as a primary. Does that tell you anything?
Isn\’t this how they killed St. Joan of Arc?
Jewel,
To answer your questions…the home is located in Hudson, which is in Pasco County, which is an hour and a half north of Tampa and an hour and a half south of Ocala. It is on the \”West\” side of US 19 which means there are no other insurance companies writing on that side of US 19 no matter how far you are from the Gulf. The insurance is through Homewise Insurance which is an approved \”take-out\” company through Citizens Insurance. The coverage does include a $400 premium for flood coverage.
Here\’s another one…my parents cancelled their wind portion of their policy due to the fact it was too expensive, now they pay $1900 a year for fire, theft, and liability. Where else in the US is fire, theft, and liability that high??
Another one…I have a friend who lives in Monroe County (the Florida Keys) she owns a 1600sq foot home that is not on the water either and her premium is just over $10,000 a year….fair?
So you really think that $8700 is an honest and fair premium? By the way Florida has gone many, many years without a storm and as you can see by last years faile prediction of 17 storms they can NOT predict the future!
Yes but Disney did not raise their ticket price by 500% nor did CVS because if they did no one would go there because you don\’t HAVE to go to Disney but you do HAVE to purchase insurance if you have a mortgage!!!
First of all, the insurance industry is not \”boasting\” to the public about profits. The media is making this an issue.
Oh that\’s right they only BOAST to their stockholders!
Second, the 500% increases are due to the state of Florida artificially surpressing insurance rates for the last 15 or more years.
PLEASE!!! are you kidding me! What about the 15 years of record profits! Were they suppressed then!
Third, you don\’t have a RIGHT for anything related to the cost of a product! You have the right to buy or not to buy; move or not to move; chenge jobs or not change jobs!
We DO have the right for affordable coverage and our Governor was elected to serve the people and see to it that we not get screwed by greedy companies like the insurance industry. Secondly We don\’t have the right to buy or not to buy when you have to purchase insurance as a condition of your mortgage…it\’s not like choosing to by a chocolate bar or not to buy one!
Any finally, my last raise was 7%. Quite nice, but no where near 500%. HELLOOOO, that is exactly my point! If you pay is not going up like your insurance premius than how do they expect people to pay for these increases! It dosen\’t take a rocket scientist to figure this one out!
Step into the real world… utopia is a pipe dream.
I am not looking for utopia just for less greedy businesses and if it takes an act of congress to bring the insurance companies back to earth then so be it!
I\’m not quite sure whether I would consider your rates fair or unfair. On the one hand, you do live extremely close to the gulf which greatly increases your chances of a hurricane wiping out your home. I live more towards the east coast of Florida, but a lot more inland than you. I am not located in a designated flood zone and would not anticipate flood, but have the coverage in place just in case.
As for your friend in the Keys, there is more water than land down there. For the exposure, a higher rate is definitely justified. I am not an actuary, though, and do not know what the rates \”should\” be. However, $10k seems like a small price to pay should the entire home get wiped out (I assume flood coverage is included?).
As for being \”on the water\” you don\’t necessarily have to live RIGHT on the water to get wiped out by a hurricane. That is evident. So, that mindset really doesn\’t \”work\”. You are extremely close to the water, please keep that in mind.
That being said, I understand these huge increases in premiums are probably the bigger problem. Who would want the price of gas to triple (oh wait, it has) over the price it was a few years ago…
In my opinion, I think it is fair to pay a company $xxx if they are going to give me much more should my home be destroyed. The fact that you pay so much more is unfortunate, but again, I do live a lot further inland. On the other hand, my parents live in So. Florida and their premium is about the same as your friend\’s in the Keys and the home is larger and further inland.
So, while I feel for you and your high rates, I don\’t agree with your logic (you don\’t live ON the water, etc.)
I hope you figure out a way to get some relief.