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Florida Homeowners Insurance Ripoff

Discussion in 'Real Estate' started by Bob, Aug 21, 2005.

  1. Bob

    Bob SoWal Insider

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    Hi Folks! Just a note to let everyone who isn't aware know that, in addition to your already inflated homeowners premium, you will will be paying an additional 6.8 percent this year to cover the 516 million dollar shortfall for Citizen's Property Insurance Corporation. Citizens Property Insurance[a non-profit corporaton] has 740,000 policy holders in Fl., most living within a quarter mile of the coast. The 2002 law setting up Citizens Property insurance allows the power to raise rates not only on their policy-holders, but for all other Florida homeowners. Doubt this? Check your itemized bill this year. Tack this 6.8 percent raise on your current policy bill! Most insurance companies are raising rates fom 8.5 to 21 percent this year alone. You are truly your brother's keeper, comrade citizen.
     
    Last edited: Aug 21, 2005
  2. Smiling JOe

    Smiling JOe SoWal Expert

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    Ain't Socialism grande?
     
  3. Bob

    Bob SoWal Insider

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    This is socialism by the Marx brothers[pun intended]. At least if the legislature would have coughed up the money from the general fund, it would have been much more fair. It would have spread the cost to all who paid taxes. This insane situation double bills the homeowners who least benefit by current law. The current wind deductible precludes coverage to all but near- major loss, ands now this! It's like having a Hartford policy ,and one day you receive a letter from State Farm saying they've had a bad year, so pay up!
     
  4. beachmouse

    beachmouse Beach Fanatic

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    Citizens' Insurance- a necessary evil, and everyone's least favorite insurer of last resort. The legislature should have coughed up the insurance pool shortage from the general budget surplus. But they didn't so someone has to pay the piper.
     
  5. Bob

    Bob SoWal Insider

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    When the average homeowner's policy provides marginal coverage, and that homeowner is forced , by the state, to pay for a group most able to pay for their tenuous location, I say that the evil is unnecessary. This is a perfect example of undue influence. Were the situation reversed, we would hear the same whining I heard after the last storm. The entire purpose of insurance is spread out risk to a large group. 740,000 is a large enough group by me. If you wish to live by the coast, you pay the piper. I am busy enough paying 20 percent more for a policy that provides very little protection here in the middle of the state. Last year's score: house trashed 3 times by 3 Hurricanes,and no claims because of the wind deductible. What a deal! More please!
     
  6. Bob

    Bob SoWal Insider

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    Alright all you BMW driven, chardonnay sippin, geo-tube lovin, dune dwellers out there, I want my insurance premiums back now! Or at least some extra roof shingles or fence sections if you find my old ones! God, that felt good!
     
  7. Richard

    Richard Beach Comber

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    And to make matters worse the Walton Board of County Commissioners continue to approve requests to develop closer and closer to the water, in the V-Zone and seaward of the Coastal Construction Control Line (CCCL). These areas are the most susceptible being damaged by storms. Homeowners here are more likely to have big insurance claims that we all end up paying. But the Commissioners approve request after request.
     
  8. TooFarTampa

    TooFarTampa SoWal Insider

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    Native of Tampa now in Boston 'burbs. Left my hear
    Seaward of the CCCL? Still? Are they out of their minds? :eek:
     
  9. aquaticbiology

    aquaticbiology fishlips

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    :pissed: :twisted: :bang: :idontno: Warning: The following is a RANT! I think I'm giving up on people. No matter how much we educate and legislate, it all comes down to dollars in pockets. We just returned from a sampling trip and 'the forgotten coast' isn't forgotten anymore, it's being sold by the square foot and, as is usual with new areas open for development, not a darn (long, long strings of explitives deleted) thing is being done to protect the beach, coastline, land, wetland, watershed, ow screw it, preaching to the choir! Nobody cares or does their homework anymore before dipping their toes into the seller's 'little erosion problem'. 'Sell it quick before its gone completely!' might be a better slogan since the counterclockwise flow of the gulf current ALWAYS causes erosion of NW Florida and deposits it on the Louisiana Mississippi River Delta. How do you think the coastline of nw florida got so ROUND??? Freshwater aquaculture looks better all the time. Who wants to spend their time fighting a losing battle against greedy dune-stomping idiots and spineless government's that are hell-bent on raising more taxes through population growth and screw the consequences? We can all go sit in our piles of sticks pounded into the dunes and watch the pretty sewage waves eat away at what was our front yard. Better yet, why don't we all go buy some land about a 2 miles back from the current coastline since we can't and our government won't do anything about global warming and we're not about to give up our 2 kilowatts of electricity per person per hour from sulfurous coal or suv motorhomes with their greasy engines that run on hydrocarbon fuels and require concrete roads that intefere with migration patterns (breathe!), and just wait for the catastrophe that comes from trying to nick all the world's oil and metal resources, then our little bit of heaven will be just 'beachy', right in the waves. GOODNESS GRACIOUS ME DO I FEEL BETTER! Thanks for the vent, and may God bless you all. And if its all the same, I'd rather drive a truck and eat freshwater fish. I'm moving next month. http://www.baysprings.olemiss.edu/about/umfs_brief_history.html
     
  10. Rita

    Rita margarita brocolia

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    Thanks for venting, Marinebiologist :!: :blink:
     
  11. Bob

    Bob SoWal Insider

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    marinebiology451, That was outstanding. Your venting was spectacular. I can only hope to one day achieve your skill level. Wait, I have to go....I must check the tropical update on the Weather Channel [I love the stressful music that leads into the segment], and Walton County has mailed me a little suprise I've yet to open....My amended property tax bill. Pass the Advil please.
     
  12. DBOldford

    DBOldford Beach Fanatic

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    Didja see the front page of today's NY Times, which includes an article about the St. Joe Company's new "neo-cracker" development in the backwater mosquito fields of Bay County? The plan is to give people who never had a chance to live on a farm or at a fishing camp the opportunity to fish, sit on a front porch with a flapping screen, plow the earth, and experience what it's like to be a Florida "cracker." (I'm not making this up.) Can't wait to tell my brother in DeFuniak to throw some millet on that pond at the Euchee Valley farm and wait for the cracker estates trend to make him a gazillionaire.

    Wait until those cracker wannabes find out that their livestock will consist of gators, racoons, and mosquitoes the size of helicopters; that flappin' screens are an invitation to same mosquitos (West Nile will replace chronic fatigue syndrom.) and racoons (not to mention meph fans looking for a little cash or their tv to fence); that a plow mule will kick you if it gets any chance at all, and lives for the hope of a kick to the head; and that Walton County will increase their tax rates by 58% for this sublime experience.

    Don't get me started...it's only Monday and we haven't yet received the magic envelope. :floor:
     
  13. Bob

    Bob SoWal Insider

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    I've opened "my" tax bill. Get the defrib paddles!
     
  14. Miss Kitty

    Miss Kitty Meow

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    Oh Donna....that was priceless and sad at the same time. Makes me think there will come a time when our descendents will go to museums to see what grass, trees, beach sand, etc. used to look like. Why do these developers feel the need to "sell a lifestyle"? Well, maybe in the swamps it is necessary!
     
  15. Miss Kitty

    Miss Kitty Meow

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    This would be the REAL bill, huh?
     
  16. Rita

    Rita margarita brocolia

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    :(
    Plow the earth of backwater mosquito fields?? Now that's some prime farmground. Or will they "fill" with some of that 6.2 "sand" that was removed from the beach. Then maybe they can plow through.

    (Truth is - I don't know what backwater mosquito fields are :idontno:) Assuming swamp!
     
  17. Bob

    Bob SoWal Insider

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  18. JT

    JT Beach Lover

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    Thank you for all that information. My wife and I just paid our insurance for the year and couldn't believe it went up 110%. We haven't made a claim since OPAL so we couldn't understand. We called the commissioner and were about to file a grievance. Now I see we don?t really have a leg to stand on, everyone is getting nailed.
    I still haven't seen the tax bill, I think my wife is keeping that one from me.
    Anyway, thank you again, I'm glad to see others complaining so I know its not just me.

    jt
     
  19. Miss Kitty

    Miss Kitty Meow

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    Misery loves company. Hang in there!
     
  20. Bob

    Bob SoWal Insider

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    Here's some more incredible info. Citizen's was designed to be an insurance company of last resort. It was meant to be phased out by 2012. My original numbers on policyholders was low, as of last January, 814,081 homeowners. Guess the number one insurance company in Fl.....State Farm. How about number two? Citizen's Property Ins. Corp. Citizen's could have asked it's policyholders for an additional 650-700 dollars to cover their shortfall. Instead, as is allowed by law, they reached into everyone's pocket for the extra money. You are paying for two insurers for every home you have. "Last Resort"....nice...how about "first in line".
     

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