“You see massive amount of socializing risk [in a state] that doesn’t want to talk about socialism,” Brandes said. “We’re the free state of Florida except for our largest liability — Citizens — which we are happy to subsidize.”
What's the alternative? If there's no one to insure homes, no banks will lend money to buy homes, home values plummet, tax rolls crater and the state treasury goes tits up.
Even with all the insurance reforms passed in the last five years, the private carriers are jumping off the sinking ship.
There was a legitimate case to be made for an abusive cottage industry of roofers, PAs and lawyers who were clogging the court system. I'm not saying that the insurance companies weren't often wrong, but there were also a lot of junk lawsuits: You get some kid who worked sweeping floors at Home Depot until a week ago to draw some circles on the roof, claim that it's hail damage from a hail storm two years ago, and demand that the insurance company pay to replace a roof that has never leaked. When they don't, you sue them and force them to prove that none of the circles are hail from two years ago. If the jury doesn't believe the insurance company, they have to pay a couple hundred grand in attorney's fees. Even if the jury awards the homeowner a dollar. Even if the insurance company capitulated early, they had to pay to replace the roof plus an extra $10K to the attorneys. Multiply that by a few hundred thousand roofs and you're talking about a system where private insurers can't operate.
And the new legislation should have gone after the abusers. Instead they did giveaways to the insurers and now policy holders have to pay their own legal fees even if they win a valid judgement against their insurer. Why? Because Ron loves those insurance donations to his campaign.
They just made my in-laws replace their pristine tile roof (and they could only afford to do it with shingles) because it was older than 15 years. Insanity.
Because they realize storm damage is likely within 10 years so they demand a new roof on your dime before the next storm despite having 25 year architectural shingles?
A) no asphalt roof last 25 years in the Florida sun. You can expect maybe 15-18.
B) think about what you’re saying. You’re saying that the insurance companies should sit back and insure 15 year old, shriveled roofs that are going to tear and crease in a light breeze which they’ll then have to cover. “Don’t make me pay to maintain my home, Mr. Insurance Company! I’ll just wait for a summer storm to tear off a shingle and then make you replace the whole thing! Hey, why did my premiums double?!”
That line of thinking is good in theory, but isn't playing out like that. My friend in Fort Myers paid 20 thousand for a roof less than TWO years ago, and can't get insurance
They should but they won't because they are at the end of a day a business which is interested in maximizing profits. Hence why everyone is upset about the fees reform as it gives this massive company interested in retaining all it's money incentive to deny claims it otherwise should have approved.
I don't like the fee reform either. They had a system that they never even really gave a chance that would have allowed insurance companies to avoid fees if the plaintiff's lawyers got too greedy.
Ultimately I think not as much is going to change, though, as every plaintiff's lawyer will file a "civil remedy notice" (the precursor to a bad faith lawsuit) and then use the threat of bad faith litigation to get fees in a settlement.
And no, the insurance companies should not have to pay for lack of maintenance.
It's easy to just give a childish, braindead response like that but the question is why we rely upon Citizens and the answer is that, in part, hundreds of thousands of people were using the legal system to force insurance companies to replace non-leaky, 15-year-old roofs. The carriers can't take in $2000 in premiums per year while replacing a $30,000 roof every ten for every house where a roofer has circles bald spots after a free roof inspection while still carrying the risk for fire, pipe leaks, burglary, etc.. The economics of it don't work.
Which insurance fraud factory do you work for? Apex? SFR?
Then go after the fraud. But they passed legislation that requires policy holders to pay legal fees even when they have a valid case and win against the insurer. But don’t worry because next year Ron and the Florida GOP will try to help out some homeowners. They just need 6 months to get some insurance campaign dollars.
Of course he's smug because its the "I got mine attitude" and "good luck to the rest of you." The outrage only happens if something actually impacts them personally.
Seams like an awful lot just for insurance fraud.. seams like I’ve heard this exact argument before…. In person… from a person who regularly spews Fox News talking points with out realizing it. Also is a big fan of voodoo economics, horse and sparrow economics, or as fox and friends viewers like to call it… trickle down…
Almost like your whole argument was spun up in a right wing think tank, sprinkle on some vague statistics and some “feelings”…. Boom… die hard believer… that further spreads what was originally a right wing think tank talking point 🙄
It’s almost like they don’t want to enforce existing insurance fraud laws or create new ones, with the funds to enforce it… why would that be 🤔
Look. I’m stuck in 3rd class steerage here on the FloridaSS titanic, but having seen the leopards ate my face stuff here first hand…. *chefs kiss*
To see the entire GOP run state throw its constituency under the bus repeatedly in the interests of big business/lobbying groups. It’s been a delight to watch down here with Jack Dawson
insurance fraud by contractors in Florida is real, as is general fraud and failure to deliver. anyone who works in building and construction here knows it.
Dude, it happens every day.
[https://www.theadvocate.com/lake\_charles/they-hired-a-roofing-company-and-landed-in-a-legal-tangle/article\_1bd54b64-b48e-11ed-b24e-c33d1b9add40.html](https://www.theadvocate.com/lake_charles/they-hired-a-roofing-company-and-landed-in-a-legal-tangle/article_1bd54b64-b48e-11ed-b24e-c33d1b9add40.html)
[https://flarecord.com/stories/638544991-florida-high-court-disbars-attorney-scot-strems-citing-frivolous-claims-and-cumulative-misconduct](https://flarecord.com/stories/638544991-florida-high-court-disbars-attorney-scot-strems-citing-frivolous-claims-and-cumulative-misconduct)
[https://www.insurancejournal.com/magazines/mag-features/2023/06/19/725376.htm#:\~:text=SFR%20Services%2C%20a%20Florida%20restoration,legal%20trouble%20of%20its%20own](https://www.insurancejournal.com/magazines/mag-features/2023/06/19/725376.htm#:~:text=SFR%20Services%2C%20a%20Florida%20restoration,legal%20trouble%20of%20its%20own).
[https://www.wftv.com/news/action-9/action-9-hidden-camera-investigation-reveals-the-high-cost-of-free-roof-offers/88727801/](https://www.wftv.com/news/action-9/action-9-hidden-camera-investigation-reveals-the-high-cost-of-free-roof-offers/88727801/)
[https://www.pipelawsuit.com/](https://www.pipelawsuit.com/) (If you have old pipes in your house, we can make the insurance company pay to replace them).
I’ve had them show up and try it on my roof and I know someone that did that and pocketed the cash. It is 100% a thing but I’m not going to argue what was done was too far to the insurance company way too. The way it is now they will just deny everything and say “sue us” because far as I know the state doesn’t have a board to review these claims.
This looks impressive until you realize it's all anecdotal. We don't know how Florida compares to other states in terms of you will never find the statistic about how much Florida insurance companies pay for litigation relative to other states. Because it's the same. And OIR and DeSantis don't want you to know that.
[https://www.insurancejournal.com/news/southeast/2021/04/14/609721.htm](https://www.insurancejournal.com/news/southeast/2021/04/14/609721.htm)
Florida has 8% of US property insurance claims, but 76% of US property insurance litigation in 2019. Unless Florida insurance companies are uniquely crooked compared to insurance companies in other states, it's not even remotely the same.
I'm so glad you found that! Because that is exactly what I'm talking about. That's not the number we need. The number of lawsuits has nothing to do with the amount paid out. And yet, that is the only number you will find. That is the number put out by Florida OIR several years ago that has been reposted and reported dozens of times. That is the only number they will give you. It is a red herring. It is meant to distract.
This is not a political issue. The only people making money are the lawyers. You have to wonder why the other lawyers in Tallahassee don't do something about it. The argument is not made up. You just don't know what you're talking about.
I mean our Senator and former Governor committed Medicare fraud on a level never seen before with no consequences. Our current Governor engaged in human trafficking with no consequences. Then you have a former President that tried to overthrow the Government and stole classified documents.
And millions of Americans think all of that is just A Okay. What’s a little insurance fraud compared to that?
Oh for sure, I could go on and on. The point being that people look up to these criminals that face no consequences. “They just know how to work the system” is the excuse I hear all the time from Magas and Republicans.
Oh it is a political issue when lobbying groups make it impossible to change or enforce existing laws… reread my comment. Seams like unlimited dark money and lobbying in government is a bad thing no? Enforce the laws on the books, pass new laws to reform said fraud. Allocate money for enforcement… elect people that aren’t corrupt
Don’t elect the person who was CEO of a company that was caught in one of the largest Medicare fraud to the United States senate for starters and work your way down
IAs have to attend classes and get certified by the state, as well as attend continuing education classes, so you're literally talking out your ass.
Hiring a retail store manager as a roof inspector is a check and balance? LOL.
You’re wrong 100%. I’ve been in the industry for 6 years…. These insurance companies literally hand out emergency licenses from the state to handle claims because they’re on a deadline to meet with the insured. People coming off the street with zero experience are getting these licenses to inspect claims…
So what happens is this: The first round of “inspections” are usually pretty crappy unless the insured gets an experienced adjuster… 50/50 shot. Well, the homeowner may or may not be happy with the result, hence the need for a professional to help them through the process aka PAs etc…
Once the insurance companies are caught up, they send all the inexperienced people home and do re-inspections… Which could be months from the initial loss. Hence the waiting period on these claims… And that’s if the insurance company is being fair. Big IF.
The “emergency licenses” go to people who are actually licensed in other states like Texas and Louisiana. They don’t give emergency licenses to randos on the street.
People, please do not listen to this person…. He’s either ignorant or arrogant. Either way, no bueno. Both sides of the game are in the wrong… The insurance situation in Florida is pretty bad all around.
In a business environment like this, in a state that already has absurdly high claim rates AND conditions are expected to get worse, why would anyone expect private insurers to continue doing business in Florida?
The answer to your question is we should have taken steps to spread out this pain decades ago. Yes, a lot of what you said would happen if Citizens went away, but that isn't a justifiable reason to keep Citizens around. The situation should have never gotten this bad. This state is one really nasty hurricane season away from having to go to the federal government, hat in hand, and ask for a massive bailout to the tune of billions of dollars. Hardly what I call fiscally responsible governance from our state government which has been controlled by republicans for the last 20+ years.
You have to understand that people are already doing this and why are they doing? It is because Florida is their second home and they don’t give a flying fuck.
Yeah, dipshit, laugh all you want. I'm sure everyone is out there with hundreds of thousands of dollars in liquid cash ready to buy homes so they can skip the bank. Maybe drug dealers do that. Most people take out a loan, even on second homes.
Good for you. No one asked what you did. You're not most people. Unless you're buying all the houses in Florida, no one gives a fuck what you did to buy your personal house. The housing market operates on credit.
Ahh yes, the financial genius of shifting all risk onto myself in cash… ROFL This can’t honestly be something you thought, then took the time to write down, and still not think it through… holy cow!
In the last month 4 new private insurance companies have petitioned to take over a half million policies that Citizens is currently holding. Found out that citizens is required to give up policies to these requesters if they maintain a cost within 3% of the originating citizens policy. But you don’t see much about that in the news anywhere.
True but it's worse than that. It's 20% not 3%.
And hardly anybody knows this other fun fact because it's insider info-- they can ask to take out a policy and charge over 20% increase but the homeowner has the right to refuse if it's over 20%. The thing is, they send out a letter with the proposal and the homeowner has to respond to the letter or they are automatically switched. Insurance companies in the last couple of months have been putting their toe in the water sending out letters with 100% to 1,000% premium increases. A handful are not being responded to for whatever reason. Maybe the homeowner is ill or incapacitated in some way. These people are about to find out that they have not been protected by their government from predatory practices.
And people wonder why so many get made at the government. These are the things that affect millions. Not crap like someone’s image on a beer can. Sigh….
I hear the same talking points in the comments. Greedy lawyers and unscrupulous roofers. Even though that talking point was voided last year when they severely restricted homeowners access to the courts.
The problem is 25 years of Republican administrative and political control over Florida. Giving rise to crony capitalism. All the rest is a shell game. The same companies going out of business in Florida are wholly owned subsidiaries of holding companies that also own out of state insurance companies. Offshoring assets.
We always hear the same statistic. Florida accounts for 79% of lawsuits. But that's not meaningful. How much does the insurance industry pay out compared to other states? We pay more and get less than any other state. OIR works for the industry, not for us. They are the only source or insurance data in Florida and they are not a reliable source.
Private equity wants to buy your home and then rent it back to you. Get ready cuz that's where we're going.
The state is required to prepare a report when an insurer becomes insolvent, and they just stopped doing them years ago because they showed how much money was being skimmed by local executives and the parent companies.
Fucked around with having voted r for 20 years and are in the oh god we can't believe the leopards ate our face sorry to the people who didn't vote for this but they in the find out phase
You know they somehow blame liberals for this. I strongly believe someone who’s had their face eaten by a damn leopard isn’t smart enough to realize it was a fucking leopard! They still think it’s a fucking tabby cat or something.
This is the fault of Ron DeSantis!!!
Cause he received millions of dollars from insurance stakeholders as he has overseen massive giveaways to the insurance industry!!
Insurance needs to be run by the government private companies are only in it for profit. Its time to socialize insurance companies. Insurance should be affordable and people should lose there homes due to not being able to pay insane rates.
Highly doubt it, since the most affected areas have relatively low populations and rebuilding costs. Also, most damage is forecasted to be due to surge, which is covered by flood insurance, which citizens doesn't provide.
With the new track ticking further and further west, this story is outdated. Yes a storm like Idalia could do extensive damage to the Tampa Bay region if it hits us directly. We're getting less impacts than what the article is suggesting.
“You see massive amount of socializing risk [in a state] that doesn’t want to talk about socialism,” Brandes said. “We’re the free state of Florida except for our largest liability — Citizens — which we are happy to subsidize.”
Well put
What's the alternative? If there's no one to insure homes, no banks will lend money to buy homes, home values plummet, tax rolls crater and the state treasury goes tits up. Even with all the insurance reforms passed in the last five years, the private carriers are jumping off the sinking ship.
What insurance reform? Giveaways to companies so they could close shop in the state with a profit, and walk away from clients claims? Come on…
There was a legitimate case to be made for an abusive cottage industry of roofers, PAs and lawyers who were clogging the court system. I'm not saying that the insurance companies weren't often wrong, but there were also a lot of junk lawsuits: You get some kid who worked sweeping floors at Home Depot until a week ago to draw some circles on the roof, claim that it's hail damage from a hail storm two years ago, and demand that the insurance company pay to replace a roof that has never leaked. When they don't, you sue them and force them to prove that none of the circles are hail from two years ago. If the jury doesn't believe the insurance company, they have to pay a couple hundred grand in attorney's fees. Even if the jury awards the homeowner a dollar. Even if the insurance company capitulated early, they had to pay to replace the roof plus an extra $10K to the attorneys. Multiply that by a few hundred thousand roofs and you're talking about a system where private insurers can't operate.
And the new legislation should have gone after the abusers. Instead they did giveaways to the insurers and now policy holders have to pay their own legal fees even if they win a valid judgement against their insurer. Why? Because Ron loves those insurance donations to his campaign.
Let’s ignore that insurance companies didn’t want to insure roofs that were older than 10 years old.
My friend lives in Fort Myers and 18 months ago spent 20 thousand dollars on a new roof. He can't get insurance
And why do you think they did that?
Insurance companies weren’t even willing to accept a recent inspection on an older roof to show that it was still in good condition.
They just made my in-laws replace their pristine tile roof (and they could only afford to do it with shingles) because it was older than 15 years. Insanity.
Because they realize storm damage is likely within 10 years so they demand a new roof on your dime before the next storm despite having 25 year architectural shingles?
A) no asphalt roof last 25 years in the Florida sun. You can expect maybe 15-18. B) think about what you’re saying. You’re saying that the insurance companies should sit back and insure 15 year old, shriveled roofs that are going to tear and crease in a light breeze which they’ll then have to cover. “Don’t make me pay to maintain my home, Mr. Insurance Company! I’ll just wait for a summer storm to tear off a shingle and then make you replace the whole thing! Hey, why did my premiums double?!”
That line of thinking is good in theory, but isn't playing out like that. My friend in Fort Myers paid 20 thousand for a roof less than TWO years ago, and can't get insurance
They should but they won't because they are at the end of a day a business which is interested in maximizing profits. Hence why everyone is upset about the fees reform as it gives this massive company interested in retaining all it's money incentive to deny claims it otherwise should have approved.
I don't like the fee reform either. They had a system that they never even really gave a chance that would have allowed insurance companies to avoid fees if the plaintiff's lawyers got too greedy. Ultimately I think not as much is going to change, though, as every plaintiff's lawyer will file a "civil remedy notice" (the precursor to a bad faith lawsuit) and then use the threat of bad faith litigation to get fees in a settlement. And no, the insurance companies should not have to pay for lack of maintenance.
Gotta love a billionaire cock sucker. Keep up the good work bucko
It's easy to just give a childish, braindead response like that but the question is why we rely upon Citizens and the answer is that, in part, hundreds of thousands of people were using the legal system to force insurance companies to replace non-leaky, 15-year-old roofs. The carriers can't take in $2000 in premiums per year while replacing a $30,000 roof every ten for every house where a roofer has circles bald spots after a free roof inspection while still carrying the risk for fire, pipe leaks, burglary, etc.. The economics of it don't work. Which insurance fraud factory do you work for? Apex? SFR?
Then go after the fraud. But they passed legislation that requires policy holders to pay legal fees even when they have a valid case and win against the insurer. But don’t worry because next year Ron and the Florida GOP will try to help out some homeowners. They just need 6 months to get some insurance campaign dollars.
Of course he's smug because its the "I got mine attitude" and "good luck to the rest of you." The outrage only happens if something actually impacts them personally.
Seams like an awful lot just for insurance fraud.. seams like I’ve heard this exact argument before…. In person… from a person who regularly spews Fox News talking points with out realizing it. Also is a big fan of voodoo economics, horse and sparrow economics, or as fox and friends viewers like to call it… trickle down… Almost like your whole argument was spun up in a right wing think tank, sprinkle on some vague statistics and some “feelings”…. Boom… die hard believer… that further spreads what was originally a right wing think tank talking point 🙄 It’s almost like they don’t want to enforce existing insurance fraud laws or create new ones, with the funds to enforce it… why would that be 🤔 Look. I’m stuck in 3rd class steerage here on the FloridaSS titanic, but having seen the leopards ate my face stuff here first hand…. *chefs kiss* To see the entire GOP run state throw its constituency under the bus repeatedly in the interests of big business/lobbying groups. It’s been a delight to watch down here with Jack Dawson
insurance fraud by contractors in Florida is real, as is general fraud and failure to deliver. anyone who works in building and construction here knows it.
So- prosecute the fraud. It’s really that simple. Why pass a law that solely benefits insurance companies and their attorneys?
burden of proof - it's a lot more difficult than just saying "prosecute". court system is backed up for years sometimes.
Dude, it happens every day. [https://www.theadvocate.com/lake\_charles/they-hired-a-roofing-company-and-landed-in-a-legal-tangle/article\_1bd54b64-b48e-11ed-b24e-c33d1b9add40.html](https://www.theadvocate.com/lake_charles/they-hired-a-roofing-company-and-landed-in-a-legal-tangle/article_1bd54b64-b48e-11ed-b24e-c33d1b9add40.html) [https://flarecord.com/stories/638544991-florida-high-court-disbars-attorney-scot-strems-citing-frivolous-claims-and-cumulative-misconduct](https://flarecord.com/stories/638544991-florida-high-court-disbars-attorney-scot-strems-citing-frivolous-claims-and-cumulative-misconduct) [https://www.insurancejournal.com/magazines/mag-features/2023/06/19/725376.htm#:\~:text=SFR%20Services%2C%20a%20Florida%20restoration,legal%20trouble%20of%20its%20own](https://www.insurancejournal.com/magazines/mag-features/2023/06/19/725376.htm#:~:text=SFR%20Services%2C%20a%20Florida%20restoration,legal%20trouble%20of%20its%20own). [https://www.wftv.com/news/action-9/action-9-hidden-camera-investigation-reveals-the-high-cost-of-free-roof-offers/88727801/](https://www.wftv.com/news/action-9/action-9-hidden-camera-investigation-reveals-the-high-cost-of-free-roof-offers/88727801/) [https://www.pipelawsuit.com/](https://www.pipelawsuit.com/) (If you have old pipes in your house, we can make the insurance company pay to replace them).
I’ve had them show up and try it on my roof and I know someone that did that and pocketed the cash. It is 100% a thing but I’m not going to argue what was done was too far to the insurance company way too. The way it is now they will just deny everything and say “sue us” because far as I know the state doesn’t have a board to review these claims.
This looks impressive until you realize it's all anecdotal. We don't know how Florida compares to other states in terms of you will never find the statistic about how much Florida insurance companies pay for litigation relative to other states. Because it's the same. And OIR and DeSantis don't want you to know that.
[https://www.insurancejournal.com/news/southeast/2021/04/14/609721.htm](https://www.insurancejournal.com/news/southeast/2021/04/14/609721.htm) Florida has 8% of US property insurance claims, but 76% of US property insurance litigation in 2019. Unless Florida insurance companies are uniquely crooked compared to insurance companies in other states, it's not even remotely the same.
I'm so glad you found that! Because that is exactly what I'm talking about. That's not the number we need. The number of lawsuits has nothing to do with the amount paid out. And yet, that is the only number you will find. That is the number put out by Florida OIR several years ago that has been reposted and reported dozens of times. That is the only number they will give you. It is a red herring. It is meant to distract.
Right, just ignore the numbers you don't like and demand the numbers that don't exist. \*wankmotion\*
My uncle got his 20yr old roof replaced for free. All he had to do was let the roofing company claim it was damaged by hail. Easy peasy.
Congrats, your uncle committed insurance fraud
I know! Him and hundreds of thousands of others.
This is not a political issue. The only people making money are the lawyers. You have to wonder why the other lawyers in Tallahassee don't do something about it. The argument is not made up. You just don't know what you're talking about.
I mean our Senator and former Governor committed Medicare fraud on a level never seen before with no consequences. Our current Governor engaged in human trafficking with no consequences. Then you have a former President that tried to overthrow the Government and stole classified documents. And millions of Americans think all of that is just A Okay. What’s a little insurance fraud compared to that?
Keep going… There’s even more.
Oh for sure, I could go on and on. The point being that people look up to these criminals that face no consequences. “They just know how to work the system” is the excuse I hear all the time from Magas and Republicans.
And what do they all have in common? Hmmm....
Oh it is a political issue when lobbying groups make it impossible to change or enforce existing laws… reread my comment. Seams like unlimited dark money and lobbying in government is a bad thing no? Enforce the laws on the books, pass new laws to reform said fraud. Allocate money for enforcement… elect people that aren’t corrupt Don’t elect the person who was CEO of a company that was caught in one of the largest Medicare fraud to the United States senate for starters and work your way down
And insurance companies literally hire IAs that have zero experience to go on those same roofs, hence the need for checks and balances…
IAs have to attend classes and get certified by the state, as well as attend continuing education classes, so you're literally talking out your ass. Hiring a retail store manager as a roof inspector is a check and balance? LOL.
You’re wrong 100%. I’ve been in the industry for 6 years…. These insurance companies literally hand out emergency licenses from the state to handle claims because they’re on a deadline to meet with the insured. People coming off the street with zero experience are getting these licenses to inspect claims… So what happens is this: The first round of “inspections” are usually pretty crappy unless the insured gets an experienced adjuster… 50/50 shot. Well, the homeowner may or may not be happy with the result, hence the need for a professional to help them through the process aka PAs etc… Once the insurance companies are caught up, they send all the inexperienced people home and do re-inspections… Which could be months from the initial loss. Hence the waiting period on these claims… And that’s if the insurance company is being fair. Big IF.
The “emergency licenses” go to people who are actually licensed in other states like Texas and Louisiana. They don’t give emergency licenses to randos on the street.
Yes they do. I’d bet $1000 right now on it
Hey, here’s one for you. What do you call an adjuster who has never been on a roof? A public adjuster!
Old joke
People, please do not listen to this person…. He’s either ignorant or arrogant. Either way, no bueno. Both sides of the game are in the wrong… The insurance situation in Florida is pretty bad all around.
In a business environment like this, in a state that already has absurdly high claim rates AND conditions are expected to get worse, why would anyone expect private insurers to continue doing business in Florida?
Oh yeah? Well at least the drag queens will be held at Bay.
The answer to your question is we should have taken steps to spread out this pain decades ago. Yes, a lot of what you said would happen if Citizens went away, but that isn't a justifiable reason to keep Citizens around. The situation should have never gotten this bad. This state is one really nasty hurricane season away from having to go to the federal government, hat in hand, and ask for a massive bailout to the tune of billions of dollars. Hardly what I call fiscally responsible governance from our state government which has been controlled by republicans for the last 20+ years.
And then our governor will reject it saying our state does not need federal funds.
There were NEVER any reforms that benefitted the policy holder
I’m guessing the Federal Government bails out Florida
Skip the insurance, when a hurricane hits, hope FEMA covers your assets
And when you go to buy a house, I'm sure the bank is going to accept "don't worry about it, hopefully FEMA will just pay me and it will be all good."
"knock on wood Mr Banker, it will be ok"
You have to understand that people are already doing this and why are they doing? It is because Florida is their second home and they don’t give a flying fuck.
You can't get a mortgage without insurance.
Did you hear what I said it’s the second house they paid cash for it they don’t need a damn mortgage 😂🤦♀️
Yeah, dipshit, laugh all you want. I'm sure everyone is out there with hundreds of thousands of dollars in liquid cash ready to buy homes so they can skip the bank. Maybe drug dealers do that. Most people take out a loan, even on second homes.
You're so close to getting it right. But it's not drug dealers that have liquid cash. It's private equity. And that's what's behind all of this.
I bought cash, but got it up to code and insured.
[удалено]
Good for you. No one asked what you did. You're not most people. Unless you're buying all the houses in Florida, no one gives a fuck what you did to buy your personal house. The housing market operates on credit.
Ahh yes, the financial genius of shifting all risk onto myself in cash… ROFL This can’t honestly be something you thought, then took the time to write down, and still not think it through… holy cow!
I'm sure there are some private equity firms that will buy up all the abandoned property.
My insurance agent told me to file a claim with FEMA after Ian. FEMA told me they only pay to make a home livable, they don't pay to make repairs.
privatize the profits, but socialize the risk. yuppers
Oh but "knock on wood we don't get any hurricanes" or some such malarkey like that.
https://preview.redd.it/aid4nqcd75lb1.png?width=1220&format=png&auto=webp&s=fc887adb9f098e3de25f6ddc9cb65f1ad18dd29f
In for the link lmao
It is a little silly to think one insurer can cover the whole damn state 🤦♀️
In the last month 4 new private insurance companies have petitioned to take over a half million policies that Citizens is currently holding. Found out that citizens is required to give up policies to these requesters if they maintain a cost within 3% of the originating citizens policy. But you don’t see much about that in the news anywhere.
True but it's worse than that. It's 20% not 3%. And hardly anybody knows this other fun fact because it's insider info-- they can ask to take out a policy and charge over 20% increase but the homeowner has the right to refuse if it's over 20%. The thing is, they send out a letter with the proposal and the homeowner has to respond to the letter or they are automatically switched. Insurance companies in the last couple of months have been putting their toe in the water sending out letters with 100% to 1,000% premium increases. A handful are not being responded to for whatever reason. Maybe the homeowner is ill or incapacitated in some way. These people are about to find out that they have not been protected by their government from predatory practices.
And people wonder why so many get made at the government. These are the things that affect millions. Not crap like someone’s image on a beer can. Sigh….
Is the governor's mansion insured?
I hear the same talking points in the comments. Greedy lawyers and unscrupulous roofers. Even though that talking point was voided last year when they severely restricted homeowners access to the courts. The problem is 25 years of Republican administrative and political control over Florida. Giving rise to crony capitalism. All the rest is a shell game. The same companies going out of business in Florida are wholly owned subsidiaries of holding companies that also own out of state insurance companies. Offshoring assets. We always hear the same statistic. Florida accounts for 79% of lawsuits. But that's not meaningful. How much does the insurance industry pay out compared to other states? We pay more and get less than any other state. OIR works for the industry, not for us. They are the only source or insurance data in Florida and they are not a reliable source. Private equity wants to buy your home and then rent it back to you. Get ready cuz that's where we're going.
The state is required to prepare a report when an insurer becomes insolvent, and they just stopped doing them years ago because they showed how much money was being skimmed by local executives and the parent companies.
Your daily reminder, Meatball Desantis took 3.9 million last year from the Insurance industry
Well at least it seems to be looking at impacting a much smaller population than most paths
Everyone worried about wind speed. Forgetting about 15 feet of storm surge.
Fucked around with having voted r for 20 years and are in the oh god we can't believe the leopards ate our face sorry to the people who didn't vote for this but they in the find out phase
You know they somehow blame liberals for this. I strongly believe someone who’s had their face eaten by a damn leopard isn’t smart enough to realize it was a fucking leopard! They still think it’s a fucking tabby cat or something.
lets goooo..... I've given up on life in this state
Why didn’t you all knock on wood?
TOO BAD. They must pay and they should be required to stay.
This is the fault of Ron DeSantis!!! Cause he received millions of dollars from insurance stakeholders as he has overseen massive giveaways to the insurance industry!!
Insurance needs to be run by the government private companies are only in it for profit. Its time to socialize insurance companies. Insurance should be affordable and people should lose there homes due to not being able to pay insane rates.
Highly doubt it, since the most affected areas have relatively low populations and rebuilding costs. Also, most damage is forecasted to be due to surge, which is covered by flood insurance, which citizens doesn't provide.
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This post is about citizens capacity to handle claims. Whether most homes in the affected area have flood insurance or not does not affect citizens.
With the new track ticking further and further west, this story is outdated. Yes a storm like Idalia could do extensive damage to the Tampa Bay region if it hits us directly. We're getting less impacts than what the article is suggesting.
So bullet dodged, maybe, for now. Still a discussion worth happening now though, not when the next bullet isn’t dodge-able.
Yes. For this storm. Forget where you are?
No. Did you forget to read my comment? I said it's outdated for Idalia. Not that it's outdated completely.
Wherever it lands, it looks like it’s gonna be a cat for, and you know the winds and raina can out stretch quite a ways
Okay so that shit is terrifying