Florida Homeowners' Insurance

[Jeembo]

This posting goes out to those who are living in the state of Florida.
You know that homeowners' insurance has become a crisis here, to say
the least. Does anyone have any recommendations for an insurer other
than Citizens???

[Blue Cat]

Post by Jeembo
This posting goes out to those who are living in the state of Florida.
You know that homeowners' insurance has become a crisis here, to say
the least. Does anyone have any recommendations for an insurer other
than Citizens???

The homeowners' insurance crisis in Florida, especially in coastal areas
prone to hurricanes, is so bad that it is better to self-insure (or take
your chances) than to insure with Citizens or any other company. Newly
elected governor Charlie Crist has the state legislature in session to try
to fix this problem, but I don't believe the state government has the power
to force insurance companies to offer affordable insurance if they don't
want to. After Hurricane Andrew hit in 1992 (I forget the exact year), many
insurance companies stopped selling homeowners' insurance.

[Jeembo]

Post by Blue Cat

Post by Jeembo
This posting goes out to those who are living in the state of Florida.
You know that homeowners' insurance has become a crisis here, to say
the least. Does anyone have any recommendations for an insurer other
than Citizens???

The homeowners' insurance crisis in Florida, especially in coastal areas
prone to hurricanes, is so bad that it is better to self-insure (or take
your chances) than to insure with Citizens or any other company. Newly
elected governor Charlie Crist has the state legislature in session to try
to fix this problem, but I don't believe the state government has the power
to force insurance companies to offer affordable insurance if they don't
want to. After Hurricane Andrew hit in 1992 (I forget the exact year), many
insurance companies stopped selling homeowners' insurance.

Yes, it is absolutely pathetic to try to insure a home here. I was
with USF&G and the rate was $2300 last year. I got my notice from them
for this year and they tried to increase it to almost $4900! That
includes no sinkhole coverage and a $9000 deductible (I did not know
that even existed!) I contacted Citizens and they brought it down to
almost $4000 for a years coverage. The house is paid for so self
insuring is an option, but I hate to think if I was to lose that
gamble. But I do thank you Blue Cat for your reply.