Allstate and others finally abandoning Florida?

[inotherwords]

You can always save up your money, buy a house with cash, and forego insurance.

That is my goal. I'm currently selling one of my investment properties and will then pay off my home with the profits. At that point I will have two houses left, my house and an investment property cottage, that are fully paid for, both of which have excellent land values in case they are destroyed by hurricanes. I will drop the windstorm insurance but maintain the flood as I'm in a Cat 2 evac zone. I'll continue to maintain a reserve emergency fund for repairs to things like pool cages etc., but if I have severe damage I can just move on and still be OK.

It's the only way I can imagine I can afford to stay here.

[Lindaloo]

My way is better gtalum. lol. If you have a loss your way, then you have just that, a loss. My way, fixes your home.

[EDR1222]

For what it is worth, All-State just renewed my homeowners insurance here in Melbourne in September. Not sure what will happen next year, but they havn't dropped us so far. We were concerned because we filed damage claims for both Jeanne and Frances. There was a small increase in the rate, but nothing major.

[k-man]

For what it is worth, All-State just renewed my homeowners insurance here in Melbourne in September. Not sure what will happen next year, but they havn't dropped us so far. We were concerned because we filed damage claims for both Jeanne and Frances. There was a small increase in the rate, but nothing major.

We were also recently renewed by All-State. We never filed a claim with them yet, but our rate still increased a pretty large amount. I hate having to carry insurance...hate it. But we own our home outright and I'd never sleep if we weren't covered. I don't worry about hurricane damage here, but I do worry about lightening strikes/fires and the risk of damage from a microburst or tornado.

[inotherwords]

Got my flood insurance bill today...2x what it was last year. I'm paying $1 per square foot per year.

[vbhoutex]

Got my flood insurance bill today...2x what it was last year. I'm paying $1 per square foot per year.

Are you in a flood plain/evacuation zone? Living in Housotn, it is crazy not to have flood insurance, but I pay around $250.00/year. I am not in a flood zone, but I wouldn't be without the insurance, unless it cost what you are talking. Are we talking apples and apples here?

[Deb321]

For what it is worth, All-State just renewed my homeowners insurance here in Melbourne in September. Not sure what will happen next year, but they havn't dropped us so far. We were concerned because we filed damage claims for both Jeanne and Frances. There was a small increase in the rate, but nothing major.

I don't have All State but I have insurance through Liberty American Insurance Group and they have been pretty good. They sent us a check last year after they sent the adjuster based on what he estimated. When we got our estimate from a contracter it was almost 6000.00 more so they sent another adjuster and sent us another check. I had an increase this year of 25% and my deductible also went up but they didn't cancel me.Don't know what will happen next year but I am covered for another year and I am out of here anyway. House was on the market before Wilma hit so we have some repairs to do and then its back on the market. Thing is the home sales seem to have softened somewhat here where I live. I hope it doesn't take forever to sell

[HurriCat]

Just don't try to file a claim and you will remain insured.

Niiice. Have the insurance, pay for it year after year... and NOT ever use it? Sorry, but HUH?

It just sickens me how the insurers are basically saying that if they ever have to do WHAT THEY ARE IN BUSINESS TO DO - that is, provide protection from losses, then they will take their ball and go home. See, the little dog has pulled the curtain back: it's not about "caring" - it's like everything else: grubbin' for money. Pay us til' you croak, fine. What? A claim? You're cancelled! Gotta weed out any "customers" whom we might ever have to give back a darned nickle.

[Lindaloo]

WELL SAID Hurricat!!! BRAVO!!

I am glad you got what I was saying with my one line statement.

[itglobalsecure]

Just don't try to file a claim and you will remain insured.

We might not like it, but this is the way it is. You need to treat insurance like a major medical policy, as opposed to health insurance. You get to use it once when the big one hits. After that you may be uninsurable.

Allstate cancelled us, after 15 years of payment, when we moved to downtown DC, and had a camera bag (yes, a $800 claim!) stolen during the move in. They claimed we were in a high-crime area. (We're in the Dupont Circle shopping district area - so this certainly isnt true). After raising h*ll they reinstated it.

So, I agree with whoever made the original remark. Once you file a small claim, you rise enormously in the company's risk profile. Best to lie low until you really need it. Fair? --- of course not. But this is the way it is.[/quote]

[CharleySurvivor]

My folks had quite a big claim last year from Charley and there was no problems getting paid... actually, they get their check within 30 days from Charley. I was VERY surprised at how fast it was.

They received their Ins. renewal 2 months ago; an increase of $30.00 and the policy and deductible remains the same.

[shaggy]

home owners is just like car insurance and there both rip offs.For example last summer while driving home after 3 days of 12 hour nighshifts i fell alseep behind the wheel.I ran off the road and hit a mailbox and did 4500$ in dmaages.(yes i only hit a mailbox)Since buying my truck which has high insurance premiums i have paid into the company 9800$ just with this vehicle not to mention all my other ones.Of course my insurance went up to cover me even though i have paid twice as much as the damages and thats just a ripoff!!!!!

During hurricane floyd we had 11 inches of rain in just under 3 hours which caused massive flooding and other problems.We had water standing everywhere and it eventually rain into the house and did round 12G's of damage insurance said it was not rain related and that it was from flooding from the ditch outdside.(there is no ditch but just a dip between the yards)They paid nothing and walked away with our premiums still in their pockets!

[vbhoutex]

Just don't try to file a claim and you will remain insured.

Niiice. Have the insurance, pay for it year after year... and NOT ever use it? Sorry, but HUH?

It just sickens me how the insurers are basically saying that if they ever have to do WHAT THEY ARE IN BUSINESS TO DO - that is, provide protection from losses, then they will take their ball and go home. See, the little dog has pulled the curtain back: it's not about "caring" - it's like everything else: grubbin' for money. Pay us til' you croak, fine. What? A claim? You're cancelled! Gotta weed out any "customers" whom we might ever have to give back a darned nickle.

You got that part right!!! My experience has nothing to do with hurricanes, but after 30+ years with AMICA and no real claims to speak of(one fence and a burglary) they cancelled me after I had 3 claims in 4 years which totalled about 50k. Problem is the big one was there choosing, not mine. I called because we had found mold behind some wallpaper we were removing. I told them what we found and asked what to do. they said they would send someone out to test it. Turns out it was the bad stuff(none of us had been sick) and 35k later it was remediated(long story short). that was their choice, not mine. I never insisted they come out and redo three rooms in my house due tomold. Then we had a water bed busrst and flood the house to the tune of about 15k in damage and long story short that is all she wrote. We were cancelled within the year for "non-payment of premium"-online payments crossing etc.-I think it was deliberate on their part. Anyway I called and finally got the person to misstep and admit it was due to their "loss history with me". Nicely stated - it is a bunch of bull crap pure and simple, especially after being with them for 30+ years with basically no claims.

[FlSteel]

Just talked to my All State agent yesterday and she said that they are non-renewing/ cancling 95,000 policies in Fl. Unfortunatly mine is one of them. So much for being in good hands. I also called State Farm and they said that they are now on a quota type system. They are only allowed to write so many new policies. I'm on a waiting list for them. My policy from All State is too be transferred to a company called Universal when it comes up for renewal in June.
If anyone has Universal or has any info on them please let me know.
Also there was an article in the Fl Times Union on Friday about Citizens raising their rates by an avg of 15% across the state and that it may go as high as an 80% hike after they finish some analysis that they are doing.

[jdray]

Just talked to my All State agent yesterday and she said that they are non-renewing/ cancling 95,000 policies in Fl. Unfortunatly mine is one of them. So much for being in good hands. I also called State Farm and they said that they are now on a quota type system. They are only allowed to write so many new policies. I'm on a waiting list for them. My policy from All State is too be transferred to a company called Universal when it comes up for renewal in June.
If anyone has Universal or has any info on them please let me know.
Also there was an article in the Fl Times Union on Friday about Citizens raising their rates by an avg of 15% across the state and that it may go as high as an 80% hike after they finish some analysis that they are doing.

Makes you wonder when they non-renew policies in areas that havent been affected (barely last year and this one). I guess they think we are due soon enough.

[Forecaster Colby]

If I were an insurer, I'd be running for my life now and absolutely dropping the gulf coast if we see another year like this.

[gfam]

here in central Florida and we never even made a claim. Not one single claim in 8 years and we made it through 4 hurricanes without a single claim. And now we've been dropped. They actually had the nerve to advertise their OTHER insurance services to us in the drop letter. I'm done with them forever. If I had an auto insurance policy with them I'd be dropping it.

We're going to go to State Farm, where we have two vehicles insured, and see if we can get a policy with them. If State Farm won't write us a policy we will of course drop them for our auto insurance forever and find some other company willing to take our money.

Just so its clear to everyone though, All State WILL drop you even if you've never made a claim. You can't depend on them to do a thing for you when you need them.

[NFLnut]

But even then that might require the introduction of income taxes.

The introduction of income taxes will spur an exodus from the state just as unaffordable insurance would. This kind of discussion makes me really glad that Florida's government is Republican-dominated right now.

Well, I'm a Republican and for the first time in my life .. solely for the reason you mentioned above .. I would welcome an introduction of income taxes to Florida. I'm fourth-gen Floridian and I'm getting sick and tired of every yahoo in the world moving to Florida! I'd WELCOME a mass exodus!

[HurriCat]

I think that such a large move-out will happen before too many more years, but the in-flow will still exceed it. As long as I am found in that north-bound company, I will be smiling. House-sale money in the bank, a lightly-packed pickup truck an' a star to steer 'er by...ahr!

[gtalum]

Well I finally got my Safeco letter. I'll be shopping for new insurance now.

I for one am glad that Florida has no income tax, and I'll be fighting against any attempts to impose one.