Fla. home insurance eases since 2004 hurricanes

[WeatherGuesser]

MELBOURNE, Fla. — Ten years have passed since four hurricanes pummeled Florida.

Also pummeled was the state's insurance industry. Thousands of homeowners lost coverage as major carriers shed riskier policies and focused on safer areas. Rates skyrocketed for millions of property owners, to the point where Florida, by one estimation, leads the nation in premium costs.

Now, a decade after Hurricanes Charley, Frances, Ivan and Jeanne and the more than $45 billion in estimated property damage those storms caused, indications are the insurance industry in Florida is calming with prices moderating and more private insurers writing policies.

http://www.usatoday.com/story/money/bus ... /15212689/

[AJC3]

LOL tell that to my policy...it rose more than 100 percent over the past 8 years, and I live about 10 miles from the coast. Was finally able to find a reasonable insurance company to switch to this year, saving me about 30 percent. From 2004 to 2005, my previous carrier (Nationwide) raised my rate almost 50 percent before dropping me altogether at the start of 2006.

[NDG]

Why I don't understand is why Insurance Cos still divide the country up into different regions for their beneficts when it comes to rates but somehow and another we still see a raise in premium when the Midwest gets hit by many tornadoes, lol.

[MGC]

We have decided to self insure since Katrina. The house has gone through Camille and Katrina and is still standing. Just goes to show how well homes were constructed back in the 1940's. I figure we are about 10K dollars ahead. Just hope I didn't jinx myself......MGC

[Frank P]

9 years after Katrina I finally found a home owners insurance policy that will include wind at a reasonable rate... I will save between 800 to 1000 dollars next year by dropping my MS wind pool insurance (a savings of about 33% overall)... and I actually increased my wind coverage amount by 50K on the house with a loss of use rider (MS wind pool does not provide loss of use rider) .... what helped was the fact I have a new home and it has been certified by an Engineer to be built and fortified for wind mitigation.. happy camper on the beach now....