Florida Home Buyers BLINDSIDED By TREMENDOUS Cost To Own

[North of Death]

I had to switch to citizens insurance

 

[Scottie Drippin]

I had to switch to citizens insurance

Citizens is the only thing that works in this state. It exists for a reason. People let the repubs sell them "small govt this" and deregulation that, but then are ready to take to the streets when the only way to insure your home is a citizens policy that cost 3x, 4x, 5x what it should.

 

[2 Up 2 Down]

man the whole Souf been getting very expensive. I'm in NYC where it's been expensive but still don't need a car.

In NYC we get taxed on city, state, & federal

The Souf and most rural areas have home & car insurance. Uncle Sam and Insurance companies the real ballers. They taking your money and looking at you guaranteeing the same next year

It's what happens when conservatives can get away with nearly everything.

 

[Scottie Drippin]

I had to switch to citizens insurance

Citizens is the only thing that works in this state. It exists for a reason. People let the repubs sell them "small govt this" and deregulation that, but then are ready to hit the streets when a policy costs 3x-5x what it should. Citizens went from being the lifeline for homeowners at it's peak to being the very thing that is pricing them out of home ownership because of how Scott gutted it.

And when I say Citizen "works", I mean when the shyt hits the fan, Citizens fixes homes and pays out because it HAS to. The private sector will immediately try and leave the state. Like they always do.

Luckily there are a few underwriters who are doing their own thing here in the state but they are CHOOSING.

And please please please do not have a shingle roof over 15 years old. Thats basically a death sentence in Florida. This state is fukked man.

 

[TEKBEATZ]

Completely untrue

Naw it's TRUE

 

[North of Death]

Citizens is the only thing that works in this state. It exists for a reason. People let the repubs sell them "small govt this" and deregulation that, but then are ready to hit the streets when a policy costs 3x-5x what it should. Citizens went from being the lifeline for homeowners at it's peak to being the very thing that is pricing them out of home ownership because of how Scott gutted it.

Luckily there are a few underwriters who are doing their own thing here in the state but they are CHOOSING.

Yea it was either them or Slide Insurance. I went with Citizens even though there's a provision in there that they can increase the premium by 40% at anytime...and yet that increase still would be cheaper than the premiums of the other private insurers. I'm getting ready to give a 30 day notice to a tenant to increase rent on the next to cover the cost

 

[TEKBEATZ]

It's what happens when conservatives can get away with nearly everything.

Wasn't to bad until 2020 hit

 

[Scottie Drippin]

Yea it was either them or Slide Insurance. I went with Citizens even though there's a provision in there that they can increase the premium by 40% at anytime...and yet that increase still would be cheaper than the premiums of the other private insurers. I'm getting ready to give a 30 day notice to a tenant to increase rent on the next to cover the cost

Remember earlier in the thread I said the rate increases haven't reflected the storms yet?

40% rate increases is what the carriers just went to the state and asked for this year.

 

[BaggerofTea]

If a place is advertised as warm and cheap year round, fukkery is afoot

 

[ORDER_66]

But y'all home owners this is the price of owning a home down there in florida...

 

[Brolic]

I love living and owning a home in south FL


currently in my backyard smoking a spliff plotting new hiding spots for my kids annual Easter egg hunt




nothing beats a custom house....imo

but yes it costs money I already spent over 4k this year and that's on my house and several rentals

How can I join the money team?

 

[RageKage]

Florida is a sandbar masquerading as a state

Elevation of Southern Florida

earthobservatory.nasa.gov

 

[LeVraiPapi]

I work in the insurance industry and I would never buy a home in Florida or own a car in the Bronx. Having a crib in FL sounds like a grand idea until it’s time to get insurance.

Breh. My insurance company was kind enough to let me know of those laws and why they were moving away from FL. I’m also an independent adjuster and I could tell you this shyt is real here. Lotta companies leaving and I think it’s on purpose because the ones left can do whatever they want since there’s scarcity.

 

[Harry Sax]

I love living and owning a home in south FL


currently in my backyard smoking a spliff plotting new hiding spots for my kids annual Easter egg hunt




nothing beats a custom house....imo

but yes it costs money I already spent over 4k this year and that's on my house and several rentals

580k ? What u do breh u hiring?

 

[CashmereThoughts]

Who doesn’t research expenses before making a 6 figure multi decade commitment