Here he goes again, Crist that is. of course all companies would want to write the risk they provide as the example…5 years old, concrete block. The reality is that most homes are closer to 55 years old and no one will touch them. In addition, half the companies listed are NOT even writing any new business. The only consolation for agents is they list the company home office address and phone number and not an agent that represents them….whew……
I don’t know about you, but in my county the lowest premium carriers don’t cover screen enclosures. Hardly a fair comparison when the devil is in the details.
If nothing else, it should have to be disclosed by an asterisk when a company doesn’t offer screen enclosure coverage.
Just one more example of how the blind mislead the blinder.
The lowest price is NOT necessarily the lowest cost! In addition to the previous comments, may I add some additional points for a purchaser of homeowners insurance to consider:
1) Company stability such as those ratings provided by AM Best, Weiss, Standard & Poors, etc. Notice I didn’t mention Demotech! Here today and gone tomorrow?
2) Company catastrophic claims experience, plans and service levels, coupled with adequate re-insurance for more than one storm. Last time I checked, second, third and fourth storm coverage was pretty expensive. And I’m not holding my breath on the Florida Cat fund to be able to pay without a lot of, if you’ll pardon me, traumatic stress disorder. It is A LOT CHEAPER TO PRE-FUND AN EVENT THAN PAY FOR IT AFTER THE FACT!
3) The experience of the company’s management team, not to mention how long the company has been in business.
4) Besides some of these companies excluding screens, supports, bird cages and carports, there are other undisclosed policy limitations such as mold exclusions, animal liability exclusions or limitations, lack of a buy-back for permitted incidential occupancies. Not to mention, there’s a HUGE difference between ISO homeowners policies with different edition dates. Newer isn’t necessarily better! Not to mention the difficulties in comparing totally manuscripted policy forms.
If you don’t know what I’m referring to when I write: ISO edition dates, then I respectfully suggest you seek PROFESSIONAL help when you are insuring what is probably your most valuable asset! Sometimes you actually DO receive what you pay for!
Wow.
Crist & the commish (sounds like a sitcom) endorsing citizens insurance and freezing its rates. Not to mention Florida’s CFO does not want to buy more reinsurance for their CAT fund.
I’d rather write mold coverage in TX. Why any sane standard company would want to write business in FL is beyond me.
Soon it will be Citizens and the Surplus Lines market.
I couldn’t agree more with the comments posted by Orlando Agent and Bubba as well. I’m sick of websites and news stories about State Farm, Allstate, and Nationwide – and useless information about them. They aren’t writing any new business – period.
Check out the Home Insurance Buyers Guide located at homeinsurancebuyers.org – only a few weeks away from launch, it is designed to help Florida homeowners find new insurance with carriers that are actually writing new business, while addressing many of the points made by Orlando agent in the “Buyers Guide Rating”. – A rating of homeowner insurance companies on a scale of 1-10 that takes into consideration many of the important points Orlando agent makes about price not being the only important factor.
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Here he goes again, Crist that is. of course all companies would want to write the risk they provide as the example…5 years old, concrete block. The reality is that most homes are closer to 55 years old and no one will touch them. In addition, half the companies listed are NOT even writing any new business. The only consolation for agents is they list the company home office address and phone number and not an agent that represents them….whew……
I don’t know about you, but in my county the lowest premium carriers don’t cover screen enclosures. Hardly a fair comparison when the devil is in the details.
If nothing else, it should have to be disclosed by an asterisk when a company doesn’t offer screen enclosure coverage.
Just one more example of how the blind mislead the blinder.
The lowest price is NOT necessarily the lowest cost! In addition to the previous comments, may I add some additional points for a purchaser of homeowners insurance to consider:
1) Company stability such as those ratings provided by AM Best, Weiss, Standard & Poors, etc. Notice I didn’t mention Demotech! Here today and gone tomorrow?
2) Company catastrophic claims experience, plans and service levels, coupled with adequate re-insurance for more than one storm. Last time I checked, second, third and fourth storm coverage was pretty expensive. And I’m not holding my breath on the Florida Cat fund to be able to pay without a lot of, if you’ll pardon me, traumatic stress disorder. It is A LOT CHEAPER TO PRE-FUND AN EVENT THAN PAY FOR IT AFTER THE FACT!
3) The experience of the company’s management team, not to mention how long the company has been in business.
4) Besides some of these companies excluding screens, supports, bird cages and carports, there are other undisclosed policy limitations such as mold exclusions, animal liability exclusions or limitations, lack of a buy-back for permitted incidential occupancies. Not to mention, there’s a HUGE difference between ISO homeowners policies with different edition dates. Newer isn’t necessarily better! Not to mention the difficulties in comparing totally manuscripted policy forms.
If you don’t know what I’m referring to when I write: ISO edition dates, then I respectfully suggest you seek PROFESSIONAL help when you are insuring what is probably your most valuable asset! Sometimes you actually DO receive what you pay for!
Wow.
Crist & the commish (sounds like a sitcom) endorsing citizens insurance and freezing its rates. Not to mention Florida’s CFO does not want to buy more reinsurance for their CAT fund.
I’d rather write mold coverage in TX. Why any sane standard company would want to write business in FL is beyond me.
Soon it will be Citizens and the Surplus Lines market.
I couldn’t agree more with the comments posted by Orlando Agent and Bubba as well. I’m sick of websites and news stories about State Farm, Allstate, and Nationwide – and useless information about them. They aren’t writing any new business – period.
Check out the Home Insurance Buyers Guide located at homeinsurancebuyers.org – only a few weeks away from launch, it is designed to help Florida homeowners find new insurance with carriers that are actually writing new business, while addressing many of the points made by Orlando agent in the “Buyers Guide Rating”. – A rating of homeowner insurance companies on a scale of 1-10 that takes into consideration many of the important points Orlando agent makes about price not being the only important factor.
Home Insurance Buyers Guide, LLC
homeinsurancebuyers.org