I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.

I paid off my house and DROPPED all my insurance. The money I saved allowed me to repair and update many things. I selected to buy a house that's about 50 miles inland, and more than 150 feet above sea level. No danger of flooding, even free from mosquitoes. Perhaps the safest from Hurricanes, from Miami to Corpus Christi, for over 75 years according to the national weather service. Taxes are LOW too. $300/year, 5 acres, smaller double wide in a farming area. I love this region, it's the sweet spot.

Florida has become un-a-floridable. It's everywhere. The real estate industry has done lost it's mind.

Our beautiful state has been plundered with soulless politicians and special interest groups. I've lived here all of my life and it breaks my heart.

Yog got enough money to buy a $1 mill. House 10ft. Above the ocean, self insure. Dont make the rest of us to pay for your mistake

Self insurance is the only way to go.

Brant, you have to follow the money and the paper trail leads to the BlackRock Company. . We recently sold our condo in Key Largo, Florida, even though we carried no mortgage, the insurance, taxes, and HOA fees made it not worth keeping. We ended up purchasing 2.78 acres of property in southern Alabama and this property sits on an 800 acre spring feed private lake. This property is registered with the state and county as a year round off- grid residence. We have done some major improvements but still keep our off-grid status. We miss some of the perks of living in the Florida Keys but the trade off is no mortgage, no overpriced homeowners insurance, very low real estate taxes, and no electric, water, or sewer bills....

Like I said in the previous videos, I am a licensed agent. Licensed in all 50 states. Talked to a young upper 20s family in Idaho today. 3 kids and 3 dogs. Their insurance provider dropped them because they have a trampoline that’s not fenced in. And when the inspector came, they had an old washer and dryer out back waiting for a family member to come pick them up because they upgraded to new washer and dryer. SMH in IDAHO! Not even in Florida, or California, etc. in small rural town IDAHO

When I saw the flooding in South FL on the news, my first thought was car and home insurance is about to increase again.

I had Citizens when we had Wilma. I placed a claim & they didn't have money to pay the claim. The only way to get paid was to sue them. I accepted the loss & never forgot. Sad!

I was actually thinking about moving to Florida because I love the panhandle, but I am glad I didn’t now, because of the insurance issue going on. I feel sorry for all of you dealing with this. I had an issue being drop by Farmers Insurance because I didn’t have my roof redone because it was 21 years old - I had a 50 year metal roof and hand no issues, so these insurance companies just want to take our money, but want no risk. They are a bunch of crooks!

insurance corporations donated a total of $3.9 million to DeSantis and his political committee, “Friends of Ron DeSantis” . This significant financial backing from the insurance industry has raised concerns about the influence these companies might have on DeSantis’s policies, especially given his administration’s efforts to pass legislation favoring the insurance sector over consumers

We sold our properties near Tampa in 22 and got out . The Florida of today has no resemblance at all to the Florida of just a few years ago . Sadly It more resembles an overcrowded & extremely expensive construction site . Than the beautiful jewel of a state that it once was .

I loved living in FL. After Citizens sent me a cancelation notice if I didn't no nonsense repairs, I was done. I had put impact windows, storm doors and a new roof on the house the year before. I knew Citizens was in trouble. I still have so many friends that still live there, and I'm pulling for good solutions for you. Hoping for an uneventful hurricane season!

That happened to us last year with Citizens, we couldn’t afford to new insurance costs, so we are doing without.

Don't have citizen's insurance but my original homeowner's for 17 years (Tower Hill) with no claims was going to increase my rates to over a 200% increase, I had to put a 14K roof and upgrade plumbing, pay for several inspections and still shop for a new insurer and lost State Farm after one year, ended up going back to Tower Hill at the cheapest rate, still almost 2K than before, I think most Company are just picking who they want to insure.My question is what were they doing with all the millions in premiums that were collected previously?

Citizens kept trying to get rid of us. I got tired of this and went elsewhere.

I carried 0 insurance for 23years in Ohio. No candles.

I had to get a wind mitigation survey and a 4 point inspection. Then new windows new doors new roof and rewire the house. All of that and my rates doubled. I’m thinking of moving to South Carolina or Georgia.

My car insurance DOUBLED in the past year and a half and I have USAA. FRAUD has a lot to do with the prices of ALL kinds of insurance going up. Rick Scott is a CROOK! That's it! He has got to go!

Got that letter from citizens 3 years ago for my condo in Treasure Island Fl. Had to find another insurance company or be dropped by citizens.

Of course insurance companies aren't solvent. Premiums have not and can not keep up with inflation and home value increases. On top of that, they make money in ladder assets like bonds. Because of free credit, monetary printing and rapid inflation bonds and laddered annunities lose money. Insurance companies know they are done for. It's one of the canaries in the coal mine. Same with municipalities and pensions.

This is crazy time what we are living in ! Very true .

I think i stated before that our goal was to pay the mortgage in < 5 years. It was to get out from under the insurance requirements. It would mean taking the risk of a catastrophic storm, but a Cat 4-5 hitting Miami will bankrupt half or more insurance companies in FL (probably including ours) and force us to sell if we still have a mortgage (even though we are in NW FL). It's an economic thing with no simple solution.

Thanks for telling it like it is. 👍

As a long time Florida resident I appreciate the fact that you're being straight up about the situation here and not trying to sell folks a fantasy. More people should make informed decisions before moving here.

My rate with progressive (ASI insurance company ?) is up 250% since 2021. That’s after replacing a 16 year old roof out of pocket for last year because they were going to drop me. This year they said my policy might not even be renewed next year because the house itself is now over 20 years old.

Brant, Citizens passed us on to another company about 10 years ago.

Thank you

He explained it better than the video i watched the other day. I heard stores of many people having to go without ins. Hopefully we have a good year.

Thanks Brant we live in some crazy times, appreciate the info bro.

After Ian we brought our house up to an A+ rating giving us a substantial discount with our insurer. But at a substantial cost out of pocket. This included windows and roll down shutters and a new roof. I

I Always appreciate the information that you give us, I have already bit the bullet and moved down here, so we are waiting to look at homes

Im surprised you haven't heard of this, I have known this for 5 years...citizen never covers anyone if another insurance is willing to do it...citizen is the last resort, and they will drop you no matter how many years you have with them, as long they find another company ...this is a way the state saves money in case of a hurricane...sucks..but our government doesnt care.

Dude you're killing it over here already.

We actually live in TN. Insurance here is up as well, though not as much as FL. Our agent here basically told me that if there is damage to the house that insurance would normally cover, but the cost to fix is below our deductible, then we should go through the repair side of getting estimates (for a paper trail if it becomes necessary later), but don't file a claim with the insurance company unless you are willing to risk getting red-flagged and increase your chances of getting dropped. I suspect FL is similar.

Thanks

As much as insurance costs, now, annually in Florida, you are MUCH better off dropping the insurance. Take the annual cost in one lump sum and invest it. It's called self insuring. There is ZERO guarantee with insurance companies when you have to file a claim anyway. So you're much better off handling you're own claim. Think about how many times you've actually filed a claim. Investing in yourself, by yourself, is the MUCH better option.

I received a depopulation (from Citizens which I had for only a year) letter last Spring. Under Citizens my replacement cost for a roof was 5% which was nearly $9,000. I had already put a new roof on in December of 2022 so it wasn't an immediate issue. The new company that "picked up my policy" was back to the standard 2%. I've never lost a shingle in a hurricane even though two Cat 3 have gone right over my house-- no joke! We were the second most damaged county in the state. Nevertheless, shingle roofs only last about 10 years with the intense heat we have here. Your "new" insurance company might be better than Citizens. Good luck.

Thank you Brant for letting the real deal be heard like IT SHOULD! 🇺🇸🇺🇸🇺🇸

Nice job Brant..Beautiful walking trail...

Build structures that can’t be affected by hurricanes, unless you don’t believe the technology exists. Concrete and stone,round and elevated above flood line. Basically a WW2 bunker then no need for insurance. It’s easy. Big savings when you don’t need insurance because it won’t be destroyed.

When DeSantis says there may be an "assessment" for the policy holders of Citizens, does that mean they could be charged many thousands of dollars more then they paid on their policy if there are too many claims? How do they make you pay the assessment? Put a lien on your property?

Affects my southern Alabama rates also...every year rates going up significantly and only have had couple minor claims in 35+ years....going to look at higher deductible option..

In this current crazy time of home insurance in Florida, I will give you a small good news story. We moved to Florida full-time a little over 3 months ago. Living in the Sarasota area. I paid for my home insurance in full on a new construction home at closing. My surprise about 2 months later I get a check from progressive insurance stating my insurance had gone down in price!

DeSantis is for the insurance co., period.

I heard an insurance company CEO say that the main problem with Florida are legal fees.

WHY DON'T THE INSURANCE COMPANIES GO AFTER THE GOVERNMENT FOR CREATING AND CONTROLLING THE WEATHER.

We paid our house off Early & tho we had just paid the upcoming years ins. bill with escrow, Citizens sent it back with a drop letter Before we even received the pay off letter from the mortgage co.

Have your roof checked and fixed up by Florida Retrofit, they can make your roof hurricane ready.

These letters from Citizens and insurance companies dropping customers is nothing knew. 10 years ago is when Citizens sent me that same letter. Around 2018 I had an insurance company drop me weeks before before Hurricane Harvey and Maria made landfall. Unfortunately this is what happens in FL. I would recommend changing your renewal outside of Hurricane season.

How anyone could believe the people who say this will be one of the worst hurricane seasons ever - it's now mid - June - is ridiculous. These people don't even get tomorrow's weather correct.

State Farm in Pace lured me in with a home and auto bundle. They have kept the home ins premium about the same over the past 4 years, but every 6mo renewal on the auto they have been increasing the rate 80-100 bucks for every 6mo. No claims or accidents ever. I’ve been shooing around for home owners but can’t find anything for the same or less

Americans First !

You will own nothing and be happy 🥴 just another example of this

Hurricane Andrew, it happened the same way, the insurance companies where dropping people, even if no claim had been made, Florida came up with the Florida JUA, and they should reconsider, that program was instilled for 2 or 3 years, until insurance companies started to come back.

I remember a Florida of 1000 safoot concrete block one story homes . Well built with real good materials.unless a tree fell on you house hurricanes came and went . Big rain storm , exciting winds , never a concern for your home. New homes are crap even to code , the code helps amazingly but big fancy designs fail in big winds.

It’s gets scarier and scarier every year. Too bad Florida passed the squatter law recently, because if the banks try to take homes because they don’t have insurance then a lot of folks will be in quite the pickle.

Appreciate this. Looking to make my only residence there soon and probably self insure as a cash buyer. Who needs Vegas, when we gamble big money daily on the next weather pattern. Insurance companies do the same, they just want a guaranteed profitable return on the bets they place.

I got both letters.. called my agent at aaa.. we called citizens and said we wanted to stay on citizens and kept it moving.. easy peezy...

Citizens sent us the same letter after IAN. We ended up selling and leaving Florida.

Where is that trail you are on? It’s nice. My insurance went from $1,700 to $3,500. Waiting for my next increase.

Our condo was devastated over 1 year ago. No insurance payments at all. Insurance? Is it really?

They always say it's gonna be a bad season every year they don't know WTH it's gonna do nobody does

I never received a letter like that. I’m not with citizens but with another company and pay a lot. They have increased the rate by at least 15% per year over last 2 years. I don’t have any other options so I have to stay with them. This is crazy & out of control.

I had a lot of wind damage in Hurricane Ike. I live close to Galveston. I had, paid for over 6 years of policies with no claims, Texas State Windstorm, which my mortgage required. It went broke before it paid anything on my claim. I had to eat 68000 worth of damage. If they say they are insolvent believe them. I’m sorry for all of Florida.

houses dropping in value helps everyone if you think about it

Sadly ( but ) next stop for Florida _ is homelessness which is ( only ) missing one check away _ Florida's destruction NOT by hurricane ( but ) the insurance out of control with no limits 😮

Great video

I live in SC 80 miles from the coast and couldn't get insurance and I tried 3 different companies. They all had 3 different excuses from hazards like a cat carrier in the backyard to not having central ac or heat.

I'm not a Florida resident but I have heard that when a hurricane hits an area there the price to replace whats damaged the contractors rip the home owners off unmersevbly . Why cant the state put in price restrictions on contractors and then expect insurance copanys pass the savings on to home owners ? It's not that hard to figure out price per square foot. 🇺🇸

I own a water mitigation/home renovation company here in Florida. And it has been a really tough year with those individuals who hold citizens insurance. There is a $10,000 cap on a lot of these claims for water. So if you have a substantial water event in a kitchen or bathroom. Good luck with 10k to fix all of that. I would just say if you have citizens make sure to know your caps so you can prepare ahead because unfortunately, they probably won’t take care of the entirety of some of the claims.

Citizens is a temp policy anytime they can find a policy for you that is about 25% higher than what you are paying they will push you onto the next company.

Thanks for covering this. I'm closely watching the insurance crisis in FL.

Doesn't the state get federal government assistance or FEMA financial assistance when a disaster occurs? Doesn't this help rebuild homes for citizens??? If not, where does the money go? Isn't it obvious that a bad year or two could bankrupt an insurance company ptetty quickly?? Shouldn't the Federal government help instead of sending money all over the world??????

They are not solvent because they are not charging enough premium. It is all simple math.

Thanks Brent Bearer of Bad News Lol 😂

Citizen is the cheapest. 7 rentals 22 years experience. Your roof is the main concern. If it’s old then, yes except to pay more.

Facts.

The homes in Babcock ranch can withstand hurricanes but they are expensive. Homes are already astronomically expensive and hurricane proofing hones increases their price even more, but the reality is that hurricane proof homes are necessary in Florida.

Brant, this is a serious issue/potential problem. I'm really sorry for what this is doing to FL residents. On a more positive note - that trail is so peaceful and beautiful. The perfect place for a nice stroll.

have no insurance for two years living fl

we had same homeowners 20 years in fl & dropped after first claim by state farm

So what is the effect on trying to sell our house?

Forced to have flood insurance whether in a flood zone or not no thanks

Up in Jacksonville! It was folks being greedy in Florida and scum bag legal groups combined with scum bag roofing companies (and in the last few years mold companies) that did this, not hurricanes. The door to door roofing companies, always pared up with a law office, that wanted to give everyone a free roof inspection and replace your roof, which might just need a minor repair or nothing at all, at cost to your insurance, every few years, at a premium of course, really pounded the insurance companies. We have potentially damaging wind events every year in most of Florida. But potentially damaging does not mean they are damaging, and even after a hurricane, you likely just need a few replaced shingles most of the time, not a new roof. You can read entire papers about this, but this scam is why most insurance companies that did not leave the state only pay a much lower % of roof replacement and require a roof inspection and repair anytime they renew now. More recently is the "Free Mold Inspection" bit, where companies want to inspect your house for mold, and then link it to something covered by your insurance, and use it to do costly mold removal and then ongoing mitigation, all claimed against insurance. Real bad mold can happen, and you should get it removed, for sure. But this is Florida. Its rarely below 60% humidity. I would wager that if you looked close enough and used enough test kits, you will find mold in nearly every structure in the state. Until our laws tackle predatory legal and construction companies, and prevent this sort of scam, which only enriches lawyers and roofing companies / mold removal companies, insurance is going to continue to be difficult to obtain and keep in Florida. And its you, me, and every other home owner here that pays for it, every month, with massively increased insurance costs.

I got one of those letters from Citizens several months ago. None of the options they provided were within 20% so I elected to stay with Citizens. They did make me get flood insurance even though I am not in a flood zone, but that's not a bad thing to have anyway.

You missed the comment about assessment if citizens becomes insolvent the policy holders can be charged an additional assessment fee to generate the funds needed to pay the claims for the other policy holders. Imagine that some folks could go bankrupt because they were a policyholder with them.

We were dropped and they put us with Slide insurance. They wanted 13.5k for our home in Kissimmee!! We dropped them and went with Citizens, went down to 3,800. Now citizens wants us to get a new insurance company and they want us to get Flood insurance though we aren't even on a flood plain here. Citizens is just as much as a joke as any other insurance company here.

Oh wow

Video gets to the point at 6:46.

Look at what the insurance industry spends on advertising costs per year, 1.05 billion in 2022, and expenditures of 1.15 billion. That's dollars. Your dollars that's going to a club that we, the common man, aren't a member of with that kind of extravagant spending on advertising, you'd think that we could get a break on our insurance policies just saying that we are getting screwed without a kiss. What are we going to do about it 🤔 absolutely nothing but bend over grab our ankles and spell run 😮give me your thoughts on this 🤔

S what is going to happen when people are not able to afford the insurance? People leave Florida?

If you want to be a Nationwide Insurance Company you should have to ensure in all 50 states I like how insurance companies pick and choose where they want to ensure it's time to either put them out of business or put them in check

Its not just Florida, its everywere.

QUESTION. if I own my home without a mortgage I don't need insurance. Right???

I could have money for a new roof with all the insurance money I've spent the past 11 years. Insurance is a huge scam.

Right before hurricane season 🤔

My mortgage provider requires that I have an insurance policy. No insurance = foreclosure. I just paid out of pocket to put a new roof on to reduce the risk of getting dropped. I may only have two options in the near future: 1. Pay off the mortgage and self insure or 2. Sell the house and move to a rental unit.

What are the prospects of moving to Texas? Is this state plagued with similar problems?