Hurricane Ian raises concern over homeowners insurance for Florida residents

Рет қаралды 40,458

Жыл бұрын

As Florida residents grapple with the aftermath of Hurricane Ian, concerns rise for property owners as they prepare to file claims on damage caused by storm. Trevor Burgess, CEO of Neptune Flood Insurance, joins CBS News Mornings to discuss their challenges as experts estimate it could cost $35 billion to rebuild.
#news #hurricaneian #florida
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Пікірлер: 102

@Salty-Gratons Жыл бұрын

As a resident of LA I can tell you the insurance companies have lost their minds and their ethics.

@billkallas1762 Жыл бұрын

Then don't buy insurance.

@prismspectrum1600 Жыл бұрын

By the time I paid the home, flood, car and earthquake insurances, I might end up living in the street.

@prismspectrum1600 Жыл бұрын

@@geocam2 I am living in central Illinois where is safe and no natural disaster for past 25 yrs, but here is just too BORING~~

@beautyRest1 Жыл бұрын

At least you don’t need ANY INSURANCE if you live on the street 😢

@henrim9348 Жыл бұрын

We moved to Florida, stayed 6 months and moved back to NC. Not worth it. Good luck to all.

@maverick214 Жыл бұрын

As a New Zealander, I find it bizarre that homeowner's insurance doesn't cover floods and you have to buy a separate policy to cover that. You would never get away with that sort of BS in my country.

@SC-or2ek Жыл бұрын

That's right you have to buy it Separate Home owners insurance Only cover fire 🔥 You need flood insurance You need earth 🌎 quake insurance You need terrorists insurance If you own a business Insurance company In business to make money 💰

@jeremypearson6852 Жыл бұрын

I live in S Florida and I fully expect rates to rise when I renew next year. I’m considered to be in a non flood zone and I cancelled my policy a few years ago. However, after consideration I renewed my policy a couple of years ago. The agent basically told me there’s no such thing as a non flood zone, it’s really a low risk flood zone. Unfortunately, homeowners insurance rates are rising to the point where people can’t afford it. I see more insurance companies exiting the state due to the high risk.

@asrah14 Жыл бұрын

@Sting So ignorant. Not everyone can afford to just up and move, life isn't always that simple. People have families, jobs, children in schools, so many countless reasons why someone may be tied to an area. They may be in bad health and can't simply up and move. I'm in the UK and hurricanes are thankfully not something we have to live through nor consider, but I still have a heart full of compassion for those who do. I certainly wouldn't offer such a cold, blunt and basic response to someone who is sharing their relative thoughts and experiences on the matter.

@prismspectrum1600 Жыл бұрын

@@asrah14 Love your comments. 💕

@jefferyepstein9210 Жыл бұрын

I live in Naples Florida and I consider the entire state a flood zone and carry insurance for that reason. Luckily I did not have any flood damage because I live inland far enough but he airport. My house I sold 6 months ago near Lowdermilk Park sustained heavy damage from wind and flooding. I left the area to stay with family in Cincinnati until power is restored to my home. It's a mess that is going to take at least a year to rebuild possibly longer.

@avertthymortaleyes3460 Жыл бұрын

This may end up bankrupting insurance companies.

@WillmobilePlus Жыл бұрын

Not honestly. If you are an insurance company in Florida, you ought to be prepared for hurricane season to produce lots of claims.

@petyrbaelish1216 Жыл бұрын

@@WillmobilePlus if I had an insurance company, I wouldn't cover anyone near the coast or in tornado alley. Build a building that is durable enough to handle the extreme weather or eat the cost yourself when your plastic house blows away.

@matricci2256 Жыл бұрын

Good

@philipmiller5036 Жыл бұрын

Not likely to bankrupt insurance companies. Ever hear of reinsurance? That's insurance, insurance companies buy as a hedge against catastrophic losses. It's funded by speculators who like to make bets. Think Lloyd's of London.

@thestayathomedad4240 Жыл бұрын

Do you guy even listen ?? No one had flood insurance..

@JussRuss Жыл бұрын

For some reason I feel a lot of these companies will not be paying. Insurance companies can be so fraudulent. Yet we are obligated to pay smh 😠😠

@jefferyepstein9210 Жыл бұрын

FEMA will force them to pay because if they don't the government will have to pay. This may bankrupt some insurance companies.

@billkallas1762 Жыл бұрын

If you don't have flood insurance, why would you expect them to pay anything?

@4Marktk Жыл бұрын

What a scam insurance companies predators

@MrSteelehead Жыл бұрын

IF YOU ONLY “THINK” YOU HAVE INSURANCE, you do not have it. If there “is any chance you can be denied”, you will be denied. Politicians “own” insurance companies, they will hide now.

@valeriehutchinson863 Жыл бұрын

If you live in Florida, and dont have this type of insurance, you KNEW you were playing Ruskie Roulette. No boo-hoos. Like living in Michigan and not owning a snow shovel. This is the price you pay living on the coast.

@billkallas1762 Жыл бұрын

Or like driving a car in Wisconsin in winter, with low profile "summer tires", and wondering why you ended up in a ditch.

@mommamomma3607 Жыл бұрын

This is crap. They take people money but won't pay out🙄 is it worth getting insurance if they don't pay out🤔

@billkallas1762 Жыл бұрын

If you don't have flood insurance, why would you expect them to pay anything?

@firstnationfall5451 Жыл бұрын

Everyone wants to move to Florida. This is the down side.

@judybrannen Жыл бұрын

And California has Earthquakes. And Tornado Alley has Tornadoes. There's very few places to live where there is no catastrophes. Downside to a lot of places. That's life. Montana features both the Rocky Mountains and the Great Plains and is one of the safest states from natural disasters. It is generally safe from hurricanes, earthquakes, and tornadoes, however, it does experience flooding.

@beeragainsthumanity1420 Жыл бұрын

I've never wanted to move there, so you can count me out.

@Andy-hi9do Жыл бұрын

A lot of people from up north do. Safe to say they’ll probably will be moving back to their rat infested cities.

@jefferyepstein9210 Жыл бұрын

I live in Naples and wouldn't live anywhere else.

@firstnationfall5451 Жыл бұрын

@@jefferyepstein9210 Until you get washed away.

@geezz Жыл бұрын

Florida like California should pay extreme rates for insurance and not the mldwest. U chose to live in a flood zone that typically gets hurricanes ...i didnt! I dont feel sorry for u having to pay more.

@tara607 Жыл бұрын

Ya live anywhere near the ocean expect problems, why act all surprised when a Hurricane comes ?? DUH

@tima.478 Жыл бұрын

Kinda' how I feel. Tell my Floridian friends this, all the time. If you don't want flood/hurricane problems, don't live in flood/hurricane prone areas. Loving my cabin in mountains more and more. 😁

@blackworldtraveler3711 Жыл бұрын

I'm on the gulf side and live in a raised condo building surrounded by steel and concrete. Don't expect any problems or need flood insurance. Just press the buttons to close the shutters over windows and around balconies and done.

@WillmobilePlus Жыл бұрын

If you live in Florida, and dont have this type of insurance, you KNEW you were playing Ruskie Roulette. No boo-hoos. Like living in Michigan and not owning a snow shovel.

@blackworldtraveler3711 Жыл бұрын

I'm in a condo in Florida that's raised and made of concrete and steel with impact resistant glass and push button storm shutters. Not concerned at all about flood insurance.

@drbarafoo7208 Жыл бұрын

Floridians have the highest property-insurance rates in the nation, according to the industry-funded Insurance Information Institute. The average premium is $4,231 - nearly triple the U.S. average of $1,544. Due to the extreme prices there are hundreds of thousands of uninsured in Florida.

@prismspectrum1600 Жыл бұрын

Wow, $4231, it just killed my dream of retiring in Florida.

@jefferyepstein9210 Жыл бұрын

And in a storm like this it's money well spent.

@billkallas1762 Жыл бұрын

Florida is a State just waiting for a disaster.

@philipmiller5036 Жыл бұрын

@@jefferyepstein9210 Plead poverty and the government will bail you out with taxpayers' money you deserve and are entitled to. Isn't America great?

@laurabartoletti6412 Жыл бұрын

Shall we witness the integrity of USA Insurance companies , now in Florida? 🇺🇸🦅🇺🇸🗽🇺🇸

@billkallas1762 Жыл бұрын

If you don't have flood insurance, why would you expect them to pay anything?

@Ladythyme Жыл бұрын

We specifically had “Hurricane” Insurance when we lived in Florida and we lived inland in Lakeland …that was on top of our regular Homeowners insurance…in fact we were required to have it… that was 10 years ago though …I guess requirements have been sidelined since then.

@KennethGreenCMP Жыл бұрын

Waiting for all those folks to realize they don't have "flood insurance" but I am sure Florida won't want Government Insurance (welfare).

@castlev1986 Жыл бұрын

why would they pay out they don't need to do so

@pamelahomeyer748 Жыл бұрын

There's no excuse for mobile homes anywhere in Florida whether they are tied down or not.

@blackworldtraveler3711 Жыл бұрын

They are cheap. Some are rented. Others just buy a new one every 15 or so years.

@lindaslack6871 Жыл бұрын

Soon people will not be able to afford homes because of insurance. Also they don't want to insure older homes . Have seen people with older homes paid for and their insurance cost twice as much as people with mortgage. A group of of figured it out as we talked among ourself.

@derrickshort2070 Жыл бұрын

Hmm, I heard this story before with the student loans. You took their money now you have to pay it back insurance companies.

@billkallas1762 Жыл бұрын

If you don't have flood insurance, why would you expect them to pay anything?

@shannonhalford3507 Жыл бұрын

You are already discussing rate increases, to recover from this natural disaster?! Assist these ppl, during a very challenging time! I am, NY Toms very British future wife, Britain/America, Veteran, Middle East & Continent of Africa

@emiliobello2538 Жыл бұрын

Wow

@davesmith3892 Жыл бұрын

But you pay your premium for 10 or 15 years with no claims and they keep raising it every year hundreds maybe thousands of dollars

@SeeLight222 Жыл бұрын

For the mad rush to those shores, I would blame the greedy Realtors for the bloated home prices, and the (borrowing the Haters' daily usage term. Sorry!) "Stupid" buyers who are ready to pump in for some sunshine and sea.

@UserNameAnonymous Жыл бұрын

realtors don't set home prices. buyers and sellers do through supply and demand.

@matricci2256 Жыл бұрын

They moved to Florida for low taxes and freedom. Freedom isn't free

@chris-co3ej Жыл бұрын

I used to believe that too, but now I believe that realtors have a big impact. I started to use realtors to sell my houses that I flip . I found that I could never get the prices that they get for me. I feel a bit guilty because I know there is some unethical things going on between them. They have a "club" we are not in.

@UserNameAnonymous Жыл бұрын

@@chris-co3ej - That goes against well-established economic principles. Extraordinary claims require extraordinary evidence.

@chris-co3ej Жыл бұрын

@@UserNameAnonymous I agree except that fraudulence can make a difference. I believe Realtors frequently act like high pressure car salesmen. They can misrepresent the market value of a neighborhood by comparing only Realtor listed homes and only Realtor sold homes. Realtors also refer mortgage brokers and appraisers who benefit from an unspoken loyalty. It's a Ponzi scheme. In the end it's Realtors listing and selling the foreclosures. I guess we will soon find out.

@bartholomewnathaniel807 Жыл бұрын

First maxim of any Insurer is to Not PAY OUT if at possible! Secondly- Insurance is a moralLESS 'racket' and you will all hear the latest horror stories coming out of Florida soon enough!

@bevalindaj.443 Жыл бұрын

They will get a quick lesson on Florida and insurance companies. Alot of the people directly on waterfront are the newbies as we call them. I have heard them already complaining about the recovery time lag time with FEMA. OMG. I've lived down here past 50yrs on the water. Been thru several hurricanes. I can't tell them the truth. How long they will be in FEMA trailers and all other kind of fun stuff. Don't build on barrier islands if you can't walk away from it ALL. That's the facts.

@ocean1233 Жыл бұрын

FLOOD INSURANCE IS NEEDED ALSO FROM HIGH WINDS RAIN

@antoinetbd8016 Жыл бұрын

Prayer for the fomo investors that paid 15 % over asking...arm loan and no flood insurance...

@israelmumpe1636 Жыл бұрын

How do u differentiate these hurricanes yet they all behave the same🙄

@mattwill6466 Жыл бұрын

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