Originally Posted by SoFloFlyer (Post 3697132)

I’ve read that it’s because Florida has gotten hit with some pretty bad hurricanes in consecutive years that insurance companies don’t think it’s worth the hassle to stay in Florida

Originally Posted by skytrekker (Post 3697263)

It's a mess. Want to live in Florida, pay up.


Two major hurricanes made landfall in the state since 2016: 2017’s Irma and 2018’s Michael. No direct hits occurred in Florida over the past three hurricane seasons (2019-2021). Florida, however, is the site of 79 percent of all homeowners insurance lawsuits over claims filed nationwide while Florida’s insurers receive only 9 percent of all U.S. homeowners insurance claims, according to the Florida governor’s Office. To illustrate how lawsuits have weighed on insurer operating costs, JD Supra, citing the Florida Office of Insurance Regulation (OIR), reported $51 billion was paid out by Florida insurers over a 10-year period and 71 percent of the $51 billion went to attorneys’ fees and public adjusters. The 2020 and 2021 cumulative net underwriting losses for Florida’s homeowners insurers totaled more than $1 billion each year.

https://www.iii.org/press-release/tr...-demise-062322


https://www.flgov.com/2022/04/26/cal...rty-insurance/


https://www.orlandosentinel.com/2021...s-report-says/

Originally Posted by skytrekker (Post 3697263)

It's a mess. Want to live in Florida, pay up.


Two major hurricanes made landfall in the state since 2016: 2017’s Irma and 2018’s Michael. No direct hits occurred in Florida over the past three hurricane seasons (2019-2021). Florida, however, is the site of 79 percent of all homeowners insurance lawsuits over claims filed nationwide while Florida’s insurers receive only 9 percent of all U.S. homeowners insurance claims, according to the Florida governor’s Office. To illustrate how lawsuits have weighed on insurer operating costs, JD Supra, citing the Florida Office of Insurance Regulation (OIR), reported $51 billion was paid out by Florida insurers over a 10-year period and 71 percent of the $51 billion went to attorneys’ fees and public adjusters. The 2020 and 2021 cumulative net underwriting losses for Florida’s homeowners insurers totaled more than $1 billion each year.

https://www.iii.org/press-release/tr...-demise-062322


https://www.flgov.com/2022/04/26/cal...rty-insurance/


https://www.orlandosentinel.com/2021...s-report-says/

Originally Posted by Bluedriver (Post 3697271)

It's interesting that Florida is home to so many insurance lawsuits. Most of that money seems to go to attorneys fees. But in order to pay out that much in attorneys fees, the insurance companies must be losing most of the lawsuits, which means they are at fault for not properly paying the claims in the first place. It also seems something must be in the laws in Florida contributing to this debacle. Which means they should be able to change the laws and make things at least marginally better.

But still, the risks of losses are too high for insurers, clearly. And most can't afford to properly self insure.

Originally Posted by Noisecanceller (Post 3696771)

As someone that has lived on or near the water in FL my entire life I cannot recommend the tri county area to anyone. We moved down here about 13 years ago from another part of the state and it has progressively gotten worse. We live in one of the couple great school districts but anywhere else get ready to pay up big for your children’s education.

It was always the most populous region of Florida but it has grown so much since Covid. I have no idea where the larger population is finding a place to live bc there is no more land. Ocean to the east and glades to the west. The constant cramped quarters has everyone on a short temper. It’s not just NYers. People are from everywhere and everyone has a bad attitude.

You used to be able to escape to the keys for some R and R but all the insurance money from Irma had all the small boater friendly inns remodeling and charging obscene prices with many no longer catering to boaters bc we don’t stay onsite during the day spending money. The northern keys have turned into an extension of Miami with loud music, bad attitudes, drunks, jet skis, and people throwing trash everywhere.

Boating north of Miami and south of palm beach is mostly nonexistent inshore and the ditch once again is filled with drunks that have no idea how to operate a vessel. Offshore the water is beautiful but aside from the extremely hot months the wind blows a lot down here making going offshore with kids somewhere between pretty uncomfortable to very unsafe much of the year. If you have a boat that costs as much as the median America home with more mx costs then yes the Bahamas past Bimini are in reach but it won’t be cheap. Bimini just like the northern keys is now Miami east. Let’s not even talk about how bad bad the fishing has become bc of the overfishing, population growth, and criminal pollution runoff from sugar country.

Non of this is hyperbole. Come see for yourself. A few of the nice folks that moved into my neighborhood from their commi states during Covid are having major buyers remorse. They moved in for the great schools and paid up for a small house. Without a boat, which may not be worth it anyway for reasons above, and golf being miserably hot much of the year, they are wondering if the juice is worth the squeeze and I can’t argue with them honestly.

Right now FLL is our “fortress” base at spirit and does offer the most in scheduling options and flexibility because of its size. That and buying in a very low price in a good school district are the only things keeping us here but we are seriously considering and looking at options upstate or out of state.

Originally Posted by cactus1549 (Post 3697611)

Thanks for your perspective. This seems like a nation-wide trend for a lot of metro areas unfortunately. How are trips out of MCO and how senior is it?

Originally Posted by cactus1549 (Post 3697611)

Thanks for your perspective. This seems like a nation-wide trend for a lot of metro areas unfortunately. How are trips out of MCO and how senior is it?

Originally Posted by hockeypilot44 (Post 3698200)

Most fraudulent insurance claims have to do with roofs. A new roof now costs about $60,000. After the storms, adjusters literally walk down the street knocking on doors asking people if they want a new roof for free.

Originally Posted by hockeypilot44 (Post 3698200)

Most fraudulent insurance claims have to do with roofs. A new roof now costs about $60,000. After the storms, adjusters literally walk down the street knocking on doors asking people if they want a new roof for free.

Originally Posted by TransWorld (Post 3698349)

A few years ago, for a house I was selling in suburban St. Louis, the roof replacement was $12,000. Has it gone up 500%?

Originally Posted by hockeypilot44 (Post 3698200)

Most fraudulent insurance claims have to do with roofs. A new roof now costs about $60,000. After the storms, adjusters literally walk down the street knocking on doors asking people if they want a new roof for free.

Originally Posted by Forward lav (Post 3698374)

that's just the roof, then they claim water damage inside and the claim goes up to +$100k.

Originally Posted by Bluedriver (Post 3698389)

Look, you're blaming the homeowner again. They may "claim" water damage, but what if there IS water damage. We already talked about how insurance companies are losing their fights in court. That tells me they insured a property, and then there was an ACTUAL loss, provable in court, and they didn't want to pay.

If this is all just fraud, which happens in all states, it should be easy enough for the legislature and insurance companies to crack down on. But I'm not seeing evidence that that is the case. It's looking more and more like a message being spread to divert attention from the reality that risk of property damage and financial loss is statistically increasing in Florida.

Originally Posted by Forward lav (Post 3698392)

not blaming the home owner, I’m blaming the public adjusters. The part about the legislature is the conversation that YOU really want to have.

Originally Posted by TransWorld (Post 3698349)

A few years ago, for a house I was selling in suburban St. Louis, the roof replacement was $12,000. Has it gone up 500%?