Insurance Problem in South Florida

[RockaFowler]

OK, I have been trying for the past 3 months to purchase a home in South Florida. I finally gave up in Palm Beach County because of the outrageous home prices. So, we decided to look at Port St Lucie. The drive is a little further, but we can get more house for the money up there.

Well today I tried to see how much the insurance would be in this area. I was just told that the only insurance available is Citizen's and that it will cost me $3600 a year for it. What are they NUTS?? Unless we get a brand new home (this is possible) we may be looking at the $3600 a year for any house. Oh yeah and I was also told that during Hurricane Season, Citizen's is the only company that will write policies. This is getting a little out of hand!!!

[bullimiami]

1. this is the doing of jeb and his republican congress. legalized rape.

[ChiciB1]

2. Welcome To Flor-EEEE-DUH!

This is a HUGE, HUGE, HUGE issue with me! Citizens has taken over and they are the only company that will insure some places. And affordable housing is almost non-existant! I have 5 acreas of very nice land for sale in North Port and it's NOT selling. My taxes went up considerably because of the "big housing boom" down there that sort of went "poof" last January when we decided to sell. They valued it at the higher price range, but are now saying we are looking at a 2 to 5 percent price down turn! Taxes are staying put!

Right now I have a different insurance company for my home here in Nokomis, but I've been given notice that come February it will change. Poe is leaving and most of us here in this state are getting SCREWED!!!

[shortcake]

3. Beach??

Is that on the beach?

[RockaFowler]

6. 10 miles from the beach

That is what is even more shocking. South Florida sucks for insurance.

[never_get_over_it]

13. Oh not just south FL

I live in Merritt Island moved here two years ago - first year my insurance was about 1,200 actually don't remember exactly but think that is about right - then last year it was 1,800 and this year it was 3,900 - I have NEVER made a homeowner's claim in my life - and I've heard of condo associations that the insurance has gone from about 35K to 125K - it is ridiculous and something has to be done.

I saw a debate for CFO and Alex Sink seemed to really address the insurance - and the guy running against her and I can't remember his name hardly mentioned it - I'm voting for Alex...

[seasat]

4. I just got a letter that my insurance co is pulling out of FL

I have to find new homeowners insurance by the beginning of next year. We've never filed a claim and though we live near the coast, we are in a no evacuation area since we are on high ground. I hate to see what our cost will be. BTW, remind everyone who had influence with the insurance agencies in this election...Charlie Crist. He is part of the Florida cabinet that has direct control over the appointed insurance commissioner.

[bluedog]

11. GD insurance companies

North Point is pulling out of Fl........had them for a few years..all others we have had

have left........

Citizens is an azz raping Company.......rates are outragous......

don't know what we are going to do yet....I live in St Pete......not near any water.....but ......they want thousands for insurance...........

this is gotten out of hand and its time for the people to raiise Holy Hell.......

[seasat]

12. We're in St Pete also

We've been in this home since 2000 and have never filed a claim. This is one of the reasons that I'm voting for Jim Davis. Crist is blowing smoke up our azz with his plan. Jim's plan is one that will work and work quickly.

[lpbk2713]

5. That's why the only rethug to seriously attempt to challenge Nelson

was Krazy Katie Harris. If she had half a brain she wouldn't waste her time. The homeowners' insurance are out of control because the rethugs let them get that way. And she's a pariah as far as the Florida GOP is concerned, so she might as well be an Independent.

[Nimrod2005]

7. I am in South Florida, insurance is going to be $7000 this year.

Crazy bastards, property taxes are insane too...Thinking about leaving.

[shortcake]

8. Good luck selling your

house. Been on the market six months and no offers.

[Nimrod2005]

9. Neighbors have had their on the market for up to 9 months now,

more than five homes around me have been listed for 6+ months...I am dying to leave, but want to leave bad.

[soup]

10. Florida insurance -

Ugh. We were just notified this morning that our insurance company wants to do an interior inspection of our house.

20 years - Same house, same company. Pay the premium, life goes on.

Wondering what's up and getting a little nervous here. Hope they're not looking for a reason to drop our coverage.

--

$3,600.00 a year?!?! Who could afford that? Our entire house payment, including taxes and insurance, runs right at $6,000.00.

[bluedog]

14. Florida: found this........good luck people

found this company that does insure Fl..but it depends on the COUNTY you live in......I live in Pinellas.but they are NO longer insuring this county(my in-laws have this co.....don't know yet if they are to be dropped)

So.if you want to check out your county.........heres the #

1-800-935-9924

Company name is Tower Hill


They can't help me.but maybe 1 of you will get lucky.

Read this morning where the Insurance co......have a $$60 BILLION profit.........they is all greed thats happening here.........and our locals are NOT doing a thing about it.


My opinion is...if banks want to keep giving out loans for mortgages......they also must provide homeowners insurance............they should also be held accountable for this.......keep building on the shore......flood out and rebuild.......when will people learn?\

its we the middle class working stiffs that are getting the shaft..........


Now I have to go into this rip off co Citizens and pay through the azz........

its time to move from FL............everything has gotten way too expensive..........where has anything ever went down?

To tell you the truth I don't know who to vote for this year............No man has a plan for US in Jan.07.........

[ellenfl]

15. don't get discouraged . . . vote dem and hope they

will do something about the insurance problem the repugs have left us. the free market at its worst. something HAS to give. things are coming to a head here and changes will follow. the high home prices are pushing teachers, police, firemen and all other personnel that make a community, out of the area. changes will have to come because the people who can afford the homes in the area also need those services.

i think the powers that be (at least the dem powers) want to spread the insurance risk and establish a state based insurance program. they know they have to do something if they expect anyone to remain in florida.

port st lucie is a growing area but still more affordable than palm beach county. have you considered western martin county or western palm beach county?

and yes, it is WAY out of hand . . . and legislators know it. we could have an uprising here shortly like the one enveloping the country now. throw ALL the bastids out!

oh, and make sure you get flood insurance. it is still affordable and worth the $, imo. if i ever buy another home, it will not be in a flood zone or it will be properly elevated.

ellen fl

[Loge23]

16. ...and they made $43 billion profit - last year!!

Yes, that's right. Even after the horrific 2005 (including Katrina), the insurance pigs still made $43B - B!!!
This year, after jacking up the rates on the backs of working people, they are projected to make $60 billion.
This is from an article published in the New York Times on 10/19 by Joseph B. Treaster. The reprint was in today's Palm Beach Post on the front page of the Business section.
I apologize - I can't locate a link aside from the Times Select one.
Now doesn't this just make your day?
We often harangue the ruling class for their devotion to Big Oil and Insurance. We know about the obscene oil profits (watch for rising prices after the election), and here is indefensible accounting of the equally gluttonous insurance scam.
May they rot in hell.