Ahh, another special session on homeowners insurance

[onethatcares]

just what we need, another chance for the industry to influence the legislators.

I thought desatan took care of this problem last special session.

[jimfields33]

1. They need to do something.

A little Reality from both sides would be nice. Insurance company needs to stop canceling people at 10 years for a roof that could last another 10 years. but insurance companies shouldn’t have to replace a 20 year old roof for just a deductible. If those two things could be fixed, I think we would have a successful conclusion.

[onethatcares]

2. I'm at a loss as to what to do but from my own

experience over 45 years of living here, St Pete area, my insurance premium has gone from $345.00/yr on a 1926 bungalow bought for 29k to $2500.00/yr on a 1949 Craftsman style bought for 205k three years ago. Original deductible was under 5k, deductible on the new old house is $26K and thats with hurricane windows/doors/garage door and new roof.

None of the bigger companies will take us due to having asbestos siding over wood siding. (like so many houses here do) So we're kinda stuck. The only thing really saving us is no mortgage so a lender doesn't have to insure us. That would really hurt.

[dutch777]

3. A PSA for DIYers. Just had electrical work done & was told by inspector it was good I got a permit

I am in suburban eastern PA not FL, but the inspector said that work done on a residence without a permit is no longer covered by most providers of home owner's insurance in the area if that work leads to a problem later. He said they are seeing issues after fires where the insurance company comes looking at the permit office for what permits were pulled on the property. And they are hearing from homeowners that their insurance claims are being denied as a result of work done without a permit being issued to cover it if it is the cause of the claim issue. The inspector noted that electrical devices and plumbing components now all have date stamps or codes that allow insurers relatively easily to determine likely timeline of installation and can correlate to permit records to see if work was permitted and inspected. Check the fine print of that insurance policy is even more important.

[onethatcares]

5. I'm in the process of extending a front porch and

I noticed the p t lumber has date stamps on the edges. Now I understand why. The cities and muni's don't want to be the deep pocket for "grandfathered" in work.

The muni's have also begun to do drone flights with photographs in order to tax add-ons that may have been done w/o permits.

Ahhh, technology.........ain't it great?

[gibraltar72]

4. Made living most of my life in insurance and finances.

Have said for many years insurance will do in the low lying areas of our country. Just read 10 insurers went bankrupt because they paid so much in Louisiana hurricane damage payouts, the well went dry. Insurers can not stand the risk of insuring properties against claims for same thing year after year. I assume state will have to become insurer of last resort.

[hay rick]

6. Large parts of Florida are unsustainable and getting worse.

Rising seas with more frequent and catastrophic hurricanes are not cyclical phenomena. A reinsurer who wanted to pretend otherwise would go broke in a heartbeat. The state will have to assume that function and the only sustainable model will require not rebuilding in the devastated areas and curbing and regulating coastal development. This is the exact opposite of what Republicans have been doing for decades.

[allegorical oracle]

9. Amen to that. Was born and lived most of my life in Fla. When we decided to buy some land and

build a house in 1983, we purposely moved inland -- to the second lowest wind-risk district in the state. Have been side-swiped by four or five hurricanes and only lost a couple trees. Not only have the feds and Fla loosened development of barrier islands (even entire islands), but it seems to be getting worse. My previous insurer dropped me to "lower" their hurricane risk. Two weeks later, I read that the company had begun to offer policies to McMansion owners who live right smack on the beaches in St. Pete.

[hay rick]

7. The good thing is DeSantis is going to own this mess. nt

[allegorical oracle]

8. Got my Homeowners policy for 2023. About fainted. My small home is going to cost me $327/mo to

insure. That's up from $132/mo last year. I'm a 75-yo widow living on less than $1,200/mo SSecurity.

Really don't know what I'm going to do. One odd thing is a "state fee" of $65 was added on to my Jan. bill for the first time ever. Nobody can answer my questions until Monday, so I'm sitting here stewing in my juices. Had to take a blood pressure pill.

Thank goodness we were able to pay off our mortgage before my husband died. But it's not having liability in the event some repair or pasture mower guy gets injured. Would be nice to have a "carve-out" for elders in my situation. Dream on.

[onethatcares]

10. that's another that gets me.

we can't just insure for liability or fire.