Allstate and others finally abandoning Florida?

[DoctorHurricane2003]

Not if the state butts out and lets the insurance companies do what they need to do. If the government drives the insurance companies out of the state with overbearing regulations, Then there will most assuredly be a mass exodus.

gtalum, if hurricanes keep hitting, the insurers will leave...it doesn't matter WHAT the state does or doesn't do...the insurers WILL LEAVE.

[johngaltfla]

You can't force a company to offer insurance in the state.

Nope, you can't. But once you can't buy insurance, say goodbye to the real estate boom.

[Recurve]

You can't force a company to offer insurance in the state.

No, but you can tell them that if they want to make millions off of auto policies, they have to provide some homeowners policies too.

[stormspotter]

Everyone should boycott any insurance company that chooses to pull homeowners coverage in their state but still offers auto. They should cancel all policies with those companies. Afterall look how many billions of dollars they have collected and taken from premium payers and think of those who payed for years and never had to make a claim. Its BS at its fullest.

[thermos]

The insurance companies get their information from the big giant reinsurers and what the reinsurers are telling them is that it is too risky to offer insurance in these areas -- they expect more bad storms. And if they do decide to offer insurance it will probably have a huge deductible.

[WxGuy1]

I agree, and, to be fair, it does make sense. One could ask -- why should my rates go up because people continue to build expensive homes right on the coast, in hurricane-prone areas?! It doesn't really seem fair that I pay more for folks who continue to build in areas that will inevitably get tagged again in the future. Tax money is another issue as well -- millions of federal taxpayer money is going to rebuilding some of these areas that will only get damaged again within the next decade. Why should someone in Idaho have to pay for hurricane relief when people continue to build over and over in hurricane-prone areas? Congress is sending billions and billions of tax money to help with Katrina, and will end up sending billions more for Rita, Wilma, Dennis, etc. I'm certainly not trying to be insensitive, but just some thoughts from someone who lives far away from the coast.

[GulfHills]

I live in No. Florida and bought the house next door 2 months ago......still can't find insurance for it.

[mountainspring]

No one would insure our house, we live a few houses from the bay in the Tampa area. We had to go with "Citizen's" -- the Florida state-run insurance agency that's run by crooks who make money off their connections. It's a horrible, horrible joke. They've been jacking up the rates for years saying, "We need to have reserve in case hurricanes hit" and then after last year, they raised our rates over 100%.

For those who say, "Well you shouldn't live in a hurricane-prone area," then you mean no one should live in Florida. The inland counties actually got the worst of it last year, Polk county (which is MANY miles from any shoreline) got hit with 3 hurricanes last year.

[cancunkid]

This thread has reminded me of something I have failed to price in my future move. I had always checked taxes but hadn't really thought about the cost of insurance much less the possibility of not being able to find insurance.

I hope all of you still hunting for insurance find a good company willing to write you a policy soon. I can't imagine anything so frustrating.

[Radar]

I have had great results with Lloyd's of London... They insure high risk properties and amazingly enough they have been resonsible. I pay less with them then with what State Farm had quoted me for house insurance. As far as I know they havent cancelled anyone in this area after Hurricane Katrina, and they have been wonderful in settling my claim. I highly recommend this company and hope some people will take the time to look into this company!

[tndefender]

Everyone should boycott any insurance company that chooses to pull homeowners coverage in their state but still offers auto. They should cancel all policies with those companies. Afterall look how many billions of dollars they have collected and taken from premium payers and think of those who payed for years and never had to make a claim. Its BS at its fullest.

I am not sure I understand your logic. The insurance business is exactly that, a business. It is not exactly a non-profit agency or a government program. Those that never have to make a claim are rewarded with lower premiums. Why should paying a premium for auto insurance entitle one to guaranteed coverage for anything else, regardless of the risk? That's like saying because I buy auto insurance from you then you must also sell me life insurance despite the fact that I am skydiver with a bad heart.

[Lindaloo]

After having been without any damage the last decade here in NE Florida, I have been dropped by Allstate. (policy good through Feburary)


It looks like they are leaving the state for good. This was about the last area that anyone could still get them.

The rest of you Floridians and Gulf Coasters, have any suggestions on who treats you fairly with a decent price?

MetLife. They are a bit expensive, but they write excellent policies.

One thing that gets me about State Farm and Allstate is.. they will pay for your flooded auto, but not your home.

[Lindaloo]

am not sure I understand your logic. The insurance business is exactly that, a business. It is not exactly a non-profit agency or a government program. Those that never have to make a claim are rewarded with lower premiums. Why should paying a premium for auto insurance entitle one to guaranteed coverage for anything else, regardless of the risk? That's like saying because I buy auto insurance from you then you must also sell me life insurance despite the fact that I am skydiver with a bad heart.

So by your logic, we pay insurance premiums to keep them in business? When we have to use OUR money we pay them to PROTECT us we shouldn't get it or use it?

You need to go back and add all the premiums you have paid to your insurance company and tell me if you have enough money to pay for your gutted home.

[stormspotter]

Everyone should boycott any insurance company that chooses to pull homeowners coverage in their state but still offers auto. They should cancel all policies with those companies. Afterall look how many billions of dollars they have collected and taken from premium payers and think of those who payed for years and never had to make a claim. Its BS at its fullest.

I am not sure I understand your logic. The insurance business is exactly that, a business. It is not exactly a non-profit agency or a government program. Those that never have to make a claim are rewarded with lower premiums. Why should paying a premium for auto insurance entitle one to guaranteed coverage for anything else, regardless of the risk? That's like saying because I buy auto insurance from you then you must also sell me life insurance despite the fact that I am skydiver with a bad heart.

It boils down to this, insurance is a form of gambling, we place a bet to try to cover our losses however, just like a casino the odds are tilted in the insurance companies favor, only having to payout every once in a while, and now suddenly when the odds are changed they dont want to play anymore but are willing to keep the game (auto insurance) on the table because again the odds are in the houses (insurance company) favor. Do you get it now, or do i need to explain how the insurance industry is no different than when people use to pay the local thug, on a monthly bases, to assure nothing happened to him, his business or his family.

[Recurve]

I agree, and, to be fair, it does make sense. One could ask -- why should my rates go up because people continue to build expensive homes right on the coast, in hurricane-prone areas?! It doesn't really seem fair that I pay more for folks who continue to build in areas that will inevitably get tagged again in the future. Tax money is another issue as well -- millions of federal taxpayer money is going to rebuilding some of these areas that will only get damaged again within the next decade. Why should someone in Idaho have to pay for hurricane relief when people continue to build over and over in hurricane-prone areas? Congress is sending billions and billions of tax money to help with Katrina, and will end up sending billions more for Rita, Wilma, Dennis, etc. I'm certainly not trying to be insensitive, but just some thoughts from someone who lives far away from the coast.

Yeah, and if nothing's ever going to happen to you, inevitably, wherever the heck you live, then why even have insurance? You do have insurance, right?

This "you live in the wrong place for me to care about whether you can get insurance" line of thought is the worst form of denial there is.

[WxGuy1]

I agree, and, to be fair, it does make sense. One could ask -- why should my rates go up because people continue to build expensive homes right on the coast, in hurricane-prone areas?! It doesn't really seem fair that I pay more for folks who continue to build in areas that will inevitably get tagged again in the future. Tax money is another issue as well -- millions of federal taxpayer money is going to rebuilding some of these areas that will only get damaged again within the next decade. Why should someone in Idaho have to pay for hurricane relief when people continue to build over and over in hurricane-prone areas? Congress is sending billions and billions of tax money to help with Katrina, and will end up sending billions more for Rita, Wilma, Dennis, etc. I'm certainly not trying to be insensitive, but just some thoughts from someone who lives far away from the coast.

Yeah, and if nothing's ever going to happen to you, inevitably, wherever the heck you live, then why even have insurance? You do have insurance, right?

This "you live in the wrong place for me to care about whether you can get insurance" line of thought is the worst form of denial there is.

There's a difference between living in a state that sees 3+ hurricanes per year and, for example, a Plains state with considerably fewer risks. Sure, we have to deal with tornadoes, but the risk of my house getting hit by a tornado is absolutely miniscule compared to the hurricane thread in coastal areas of FL. Again, I'm not intentionally being insensitive, and I do think the situation in FL is much different than the situation in New Orleans (how it makes sense to pump 100s of billions of dollars into a city that is still below sea level awaiting another disaster is beyond me -- it'll happen again, I can nearly guarantee it).

[arcticfire]

Insurance is a service you solicite and pay for , it is NOT a right.

Some people around here seem to feel that the entire country should be forced , business , individual , and tax handling politician alike to bend over backwards and rebuild their pile of sticks called a house by the ocean.

Insurance , while I really dislike since it's forced on us Auto wise up here is a business. They owe you nothing except what you pay for and like all business's do not HAVE to do business with you.

[mountainspring]

There's a difference between living in a state that sees 3+ hurricanes per year (snip)...

Since when has Florida been hit with 3+ hurricanes a year? Last year was the first in a long time. My parents have been in the area for decades and they have never seen ANYTHING like this.

[dizzyfish]

We also have the bad fortune of having Citizen's state ins. I want to try and get another company as our insurance went up 125% this year. We don't live near the water, in fact we are on a hill with a 26' elevation. So what's up with that? Anyway, I have heard that no company will issue homeowners insurance as long as there is an active tropical system. Just waiting for the season to be over so we can hopefully get someone that doesn't cost an arm and both legs.
(we had USAA at our old place in Tampa, when we moved they wanted us to have the ground tested for sinkholes at the tune of 6-7k - NOT)
Thanks for the info - will try MetLife and Lloyd's when the season ends (if it ever does).

[Taffy]

This is precisely why I am leaving. I had to get Citizens State insurance because NO ONE would insure my 20 year old wood frame house. So, I pay $2369 for my policy and last year I paid $1300. You can't have a mortgaged home without insurance. Now, Citizens is asking for ANOTHER MONSTER increase.. so next year it should be AT LEAST $3500 for insurance.

We are leaving because we are priced out of here. I have a tiny mortgage, but it isn't tiny once you had $200 a month for insurance. I have never even had a claim.

I am disgusted and there will be a year really soon that the only insurance is the state and it will be thousands and thousands and only the wealthy will live here.