Couple friends live Florida and 8-9 thousand couples years back pretty average

Capitalism in America promotes this kind of thing. Greed

Not on a $2-3 mil home.

@Polemic-2525 The ignorant blame everything on capitalism. Insurance in very socialist California is also through the roof. When I saw these sky high premiums, I googled why for both states. They have different, but valid reasons for the premiums. In Florida's case, creating criteria and reasonable caps at which insurance companies can be sued would help. In Californa, removing crazy environmental regulations would help.

@@Polemic-2525 when the government and big companies control everything that is communism. just look at China.

Not an option for the vast majority of people, anyone with a mortgage is required to have coverage

And not an option for people living in Florida where the likelihood of moderate to catastrophic hurricane damage is likely within 5 years. It's not a matter of 'if' it is a matter of 'when'. I know, I live in Florida.

@@JamesBrown-ij1px Her house is 120 years old and has the original roof, if its been hit by Hurricanes, it must not have been hard.

Exactly

Who can afford to save $36K per year working a min wage or $15 ph wage?

This is one of the ways Americans will be forced out of home ownership and into rentals. Blackrock and other globalist investors are waiting with cash and will pay pennies on the dollar. They also self insure.

So is building in a swamp thats guranteed to be frequented by hurricanes, but here we are..

@jetjan RegeneRon DeScamtis 🕯 never forget.

Self insure. If you have 20% paid on your mortgage you can handle your( escrow ) taxes and insurance on your own. At that point just cancel your insurance. Punish the industry, and fight back.

Self insure. If you have 20% paid on your mortgage you can handle your( escrow ) taxes and insurance on your own. At that point just cancel your insurance. Punish the industry, and fight back.

My guess is the woman isn't worried about her next meal.

U catch on fast man

I sing and dance every day because Hell is so toasty. Only I'm freezing.

Thats a big leap

And you should be angry.

As a home inspector the roof is not 120 years old. The framing may be 120, but the overlay i.e tile shingle does not survive beyond 30 in most cases, but the reality is a private insurance company will kick you out by pricing you out. It's a strategy and it's the point.

BULLSH1T

@@alexisnogueras9400 how does framing survive for 120 years?

Desantis didn’t do a damn. Thing for us Floridians

Yes he did have too been sleeping?@@beautyRest1

He is busy chasing after Trump.

DeSantis is an impotent Governor. He only cares about his (sinking) Presidential campaign and has abandoned the people of Florida. He's awful.

I guess he’s too busy trying to run for a presidential candidate

You have state sponsored insurance citizens that they can apply for. In-addition, DeSantis just passed several bills a few months ago to curtail these issues. You probably won't see the impact of bills until next year. Remember, this has been an issue that's been building for the last decade or more

@@DC-gp6hd Citizens insurance will be cutting 50% of the polices they have. Fact As DeSantis was on his candidacy tour a reporter questioned him about these problems and with Hurricane 🌀 season approaching DeSantis’s comment to this was “Good Luck Floridians “ This once great Governor Turned out to be a backstabber He’ll be bought out by Donors and lobbyists. No thanks.

You voted for this stupidity 😂😂

Basically it's being sucked into a practice of fraudulent insurance scams

Log cabin falls in to same area as historic old houses, replacement is hard to price especially if it wasn't manufactured log which is still quite expensive.

But they sent the illegals to ny and chicago so now even repairing a house will be so expensive. But desantis is suing disney and going after wokism. Giod going floridians

Allegedly guess where that person who was supposed to solve Citizens problems has landed and started their own company back I 2021?

You are absolutely correct. I am hoping to sell my house and move out of Florida as soon as possible.

@@JamesBrown-ij1px I relocated to South Carolina and love it. With the exception of food costs, everything else is much cheaper.

@@godislove4540 Florida is much cheaper than south carolina for many people based on income tax alone.

No kidding. With rises in sea level, Florida is going to become a very expensive place to live as time goes by.

Just say you represent insurance companies and keep the tremendous lecture

Nice emotional response, Angela. Perhaps you could take the effort to address any of my points? @@angelaw9476

@@angelaw9476 Just say he represents someone with common sense.....

United Property & Casualty insurance went insolvent after Hurricane Ian which cost an estimated $112 billion. After Hurricane Andrew 1992, the GOP claimed that they were the problem solvers. What they did is they enhanced the existing state catastrophe fund then capped it at $17 billion. They are required to pool their money into the fund. Insurance companies grow their money when they're able to invest it in other areas. the money stayed here, doing absolutely nothing. So when crap hit fan, the catastrophe fund was capped at $17 billion and we've seen how much the damage cost between Ian & Idalia. It doesn't factor in the costs from Hurricane Nicole which piled on millions more. IMHO, we are 1 major hurricane away from state bankruptcy

Since 2021, the insurance companies changed the roofing age from 20 years to 10 years. The only reason she got the insurance was a result of its historic designation. Most, if not all are not renewing or canceling.

There is. It's called competition. Ask why insurance companies are pulling out of Florida

Before you blame, as normal businesses, look at what causes roof damages as in severe storms. Everyone should be forced to do their own roofs in Florida as it isn't a bad job just very hard work especially in the hot sun.

The corrupt roofing industry is only one aspect. The real reason is that insurances dont want to pay so they spend 10s or even 100s of millions on hiring arrorneys

And corrupt homeowners

@@MuzixMaker That is part of it also

The insurance company is basically saying every two years they expect to replace her home from hurricane damage.

Overdevelopment is a problem. However, the Crux of the problem is they are building in places they're not supposed to. They remove natural barriers like mangroves and fill them in, building on land that is unstable, like they're building some million dollar Mansions up there in the Lakeland area on land that has been known to open up with multiple sinkholes. The No Name storm that hit South Florida almost 3 weeks ago show areas that experienced massive flooding and in the middle of it as brand new construction. You couldn't tell where the buildings ended and where the water began. There'll be more areas prone to flooding because there has been a rise in sea levels and natural barriers like mangroves have been ripped out to put oceanfront homes and condos

Rural countryside in Florida has been disappearing for decades. I remember reading in the Florida Almanac in the 90s (I was living in the state at the time, left the state in 2000, not an easy decision to make) that the state was losing roughly 125,000 acres of farmland a year to development. At that rate there isn't going to be much of any rural countryside left in the state.

You're not accounting for the Cartel shakedown

Lol, who wants to live in stinky Mexico?

Good question most last 25-30yrs what kinda house does she live in???

It is probably Spanish tile or English Slate....Either way it is in a "HISTORIC DISTRICT" which means a replacement must be in the same material as the original no modifications!! That type of roof would be in the 6 digit range in Florida today.

Why should laws be passed preventing insurance companies charge what they see fit. Let the free market determine the price.

The problem is , it is not always a free market , in some cases insurance is a requirement by law and insurance companies lobby for more all the time .@@squishsquall3159

​@squishsquall3159 thats bullshit...and it's Republicans in the companies back pocket getting kickbacks to not fix it...all corrupt bullshit✋️✋️

Yep. Most likely a slate roof, located in a hurricane prone area. But it's obvious that the new insurance company is high balling because they don't want to insure her.

That is not how insurance works. It spreads risk among clients, and takes a fee for managing that. The total premiums have to cover anticipated payouts and provide a surplus for a profit for those underwriting it. Insurance is NOT charity. The main reason rates go up is the ever increasing amount of claims made, and the pool of people who chose to participate. So, for example, if people who are not likely to make a claim leave the pool, then the rates for those who remain are going to increase. That leads to more people leaving the pool, and eventually those at high risk who remain are going to be paying very high rates.

Insurance is meant to spread the risk, that money has gone to cover those who DID get hit big time. You participate because you don't know who that unlucky person is going to be, last time it was them, next time it could be you. But hey, if you are willing to personally take the risk of losing everything if your house takes a direct hit from a hurricane, stop insuring.

Depends on what it's made of. A Copper roof with soldered seams will last forever. A slate roof can also last forever.

@@fauxque5057 But the letter of the law does not specify of the material. Just age. 5 years.

I have always bought and maintained flood insurance, even though I don't live in a Flood Zone. If we ALL were 100% insured the premiums would decrease. The fact is nothing will stop a hurricane from hitting you if that is what fate tells the hurricane to do. If everyone just knew a fire was going to happen, they would get rid of the excess fuel, like undergrowth and dead leaves under the canopies with controlled burns. People who live on flood plains, well, they must know what the risks are, as it is living on a Texas, Louisiana or any coastal town in Hurricane season. If we had NATIONAL Hurricane and Wind coverage like Flood coverage, rate would decrease.

Ur righr about that but why the wild increases 4 us living upper midwest

Desantis passed earlier this year, a bill to protect businesses and insurance companies from people suing.

@@DC-gp6hd HB 837 deals mostly with bad faith claims and while bad faith claims are a serious problem, the more serious problem is that the coastlines of Florida are at increasingly high risk of hurricanes and flooding. Also there were 391,000 undocumented workers in Florida and many are leaving, and many of those are in construction, so the cost of rebuilding in Florida has gone up considerably because now the construction companies have to use citizens, and that means they have to pay them more an that means that the cost to repair or rebuild goes up. Those are why insurance companies are leaving, and while HB 837 may improve things, it does not reduce the risk of hurricanes and the cost of rebuilding. Investors that look at the financial risks associated with global warming (I am one of those) knew this was coming.

@@DC-gp6hd HB 837 does not stop people from suing insurance companies. I don't know where you got that ideal. It is tort reform legislation that deals primarily with bad faith lawsuits. It does nothing to really lower house insurance in any meaningful way because what is driving insurance costs is risk of severe storms, and the cost of rebuilding and repair. A lot of construction work in Florida is done by illegal immigrants and they have been leaving Florida, so contractors are having to pay more for labor and inflation has caused materials prices to increase. It is the threat of severe storms that mostly dictate the cost of insurance and while bad faith claims are indeed a factor, they don't really constitute much risk. Now, it might help with auto insurance because bad faith claims are far more problematic in the car insurance business.

@@shenmisheshou7002 HB 837 will help with the insurance companies bottom dollar (profit margin). In-addition he passed SB 2-D which enacted pro-consumer measures to help alleviate rising insurance costs, increased insurance claim transparency, and cracked down on frivolous lawsuits. Prior to that he passed SB 2-A, which reduces the burden of excessive and predatory litigation will help bring down costs for homeowners.

@@shenmisheshou7002 Also, one of the major contributors for insurance companies pulling out was due to number roofing scams. The contractor claims the homeowner can receive a free roof and the insurance deductible will be waived, but the contractor pressures the homeowner to sign an assignment of benefits (AOB) agreement that allows the contractor to file the claim. When the claim adjuster later finds little or no damage, the insurer denies the claim or offers a smaller amount. The contractor then sues the insurer. The insurer is forced to either fight the lawsuit or pay to settle it - either option is expensive. HB 837 will help protect the insurer... again, I am not wrong!

Just figuring that out huh. Trying 2 get gays set straight don't have time 4 stuff that matters

So sue the remaining insurance companies out of the state, sounds like a great idea. Florida is an extremely high risk state for insurance companies and many have left already and each state is in fact a separate company by law and under state laws. Or should people in areas with low cost due to rare events subside Florida residents, I don't want to just let them pay for all their great weather and beaches and such with high costs due to the severe hits they get.

Or perhaps thank God for all of the hurricanes?

And the people will vote him back in office. BETCHA.

@@Chicago48not me I didn’t and I won’t. He needs to focus on the FL homeowners insurance crisis. He isn’t helping us.

@@Chicago48 Well. As much as I would vote for him AGAIN. He can't be voted back in. He's on his final term as Governor.

But Old Joe the diaper zombie is in charge. Can't he help?

I pay 180 a year for one appartement.

​@@martinanderko9893on your renter's. But rent is same as homeowners mortgage, taxes insurance and maintenance are included in rent. That's why there's been rent hikes across the board.

A co-op would be very selective in who they let in. If you live in a flood zone or area subject to extensive hurricane damage, co-op wouldn't want to let that customer in. The problem is most of the housing in Florida is built near water, and subject to flooding/hurricane. Fraud is also an issue.

Pool vs. Co-op

Good suggestion but when 1 CO-OP person files for a 100K+ roof replacement, the group will go bat shxt imo. Lawsuits , fraud, revolt

That won't work because everyone would likely be claiming at the same time. Insurance is meant to spread risk, so if something happens to one house the pool collectively makes it whole. But if it happens to everyone at the same time then it will not be able to do that.

If you own a mortgage on a house, Insurance is required as part of that mortgage. It's factored into the mortgage payment.

@@JamesBrown-ij1px I didn’t know. I bought my house in cash, but the insurance only costs $50/month in PA

If you own a condo unit, more than likely your documents will have a clause that requires you to have a condo unit owners insurance policy.

@@x-men69-96 That's Erie.

​@@EdwardRingwaldCondos have their own insurance policies for the complex as a whole. Those policies just don't cover deductibles and anything that is internal to your unit. The reason to have a personal policy is to cover the strata deductable in the event of a claim, and for liability in the instance of damage emanating from your unit.

Just another example of someone not understanding what insurance is and how it works.

They are

Correct if our home burns down I am SOL. I don’t think people should go with our home insurance

Feel same way I'm in same boat live way north