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John
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When the big blow comes everybody in this state is going to be financially effected because of Charlie Crist and his no nothing approach to risk and financing it. Between Citizen's and these little "take out" companies they allow it will be a disaster.
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Greg Bell
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If you think the exodus is large now just wait until after the next hurricane. Then the citizens of Florida will see just how much each one owes to make up the deficit from that storm. It will make the defict from 04 and 05 look like peanuts.
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Soo
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How about ocean front property be non insurable? People from other parts of the state should not have to subsidized these individuals. They take the risk, they pay for it.
Let them come together under a HOA, or something similar, and try to purchase it that way if anything.
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zak
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I agree with this. When you build on a sand dunes you will get blown away. Oceanfront owners should start a co-op to cover the ocean front owners. Soo wrote: How about ocean front property be non insurable? People from other parts of the state should not have to subsidized these individuals. They take the risk, they pay for it.
Let them come together under a HOA, or something similar, and try to purchase it that way if anything.
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ConchRepublican
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FLORIDA SAYS YES..you gotta be kiddin' me...READ THE FINE, THE VERY FINE PRINT...This is all BS, hogwash and a painted masterpiece, when all what we see is a "Paint by Number" painting. get real...Sand ain't LAND...AND YOUR PROPERTY WAS TAXED AS..BUT IT IS REALLY WORTH 10 per cent of that!!!! Just ask those who now live in other states..It ain't called FLORY-DAH for nuttin!!! That is why the FCAT strikes fear in PARENTS, GRANDPARENT, ANYONE OVER 30 BECAUSE THERE KIDS ARE REALIZING IT IS COSTLY IN "paradise lost"!
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Ken
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The Florida Department of Insurance has a pitiful record in regulating Insurance Companies. 5 million is cash is a joke! How about 100 million in cash and a regulation on how many houses they can insure. YOu figure the average house is about 210,000 depending where you live. Does not take long to go through 5 mil! This is not 1969 when the average house in Florida cost about 30,000! We do need leadership in this area however I do not see that coming from this state!
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thank you
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This article has been bought, ahem, brought to you by the large insurance companies.
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Charles
AOL
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The real question is "Why insure". A wind policy coverage has a 20K deductible and 200K maximum. The premium is approximately $2500/year. If one has cash resources and no mortgage, I say, "Why insure".
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Pat Beranger
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"Stringent requirements." Good one. The requirements did a lot to prevent Poe from going belly-up, didn't they? How many of the companies are surplus lines carriers or are not yet financially rated by independent organizations like AM Best. And no, this article was not brought to you by "large insurance companies." It was brought to you by our legislators who want to convince us that losing companies with claims paying capacity like Allstate, State Farm, Nationwide et al in favor of "Shifting Sands Insurance Company" will not result in an eventual burden to the taxpayers.
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zak
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FIRE. Charles wrote: The real question is "Why insure". A wind policy coverage has a 20K deductible and 200K maximum. The premium is approximately $2500/year. If one has cash resources and no mortgage, I say, "Why insure".
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Rob
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I live in Boynton Beach and paid United Property $3,400 this year. I just went on Peoples web site and got a quote of around $1,000.00 with better coverage! I'm calling them Monday to discuss switching to them. For a savings of over $2,000.00 per year I'll roll the dice!
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Judge it!
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