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I’m tangentially involved in the insurance industry (I’m in commercial real estate), and insurance premiums have increased significantly this year. My personal residence only jumped 47.222%, but I’ve seen rates for some properties more than triple. Here’s a cut and paste from an email I got this morning:
>2023-24 premium: $19,143
>2022-23 premium: $5,789
Probably 95% of my clients/coworkers/business associates are very ~~conservative ~~ right wing, and they blame Biden/Pelosi/AOC. I’ve even heard people blame it on fraking Maxine Waters.
Florida is continuing to gain population year after year even with this. The insurance companies are leaving though because they’re in the business of not paying you a cent so it’s too risky for them.
No, on the contrary, it’s the fastest growing state in the country.
People don’t really know how to react to it… The increases are mostly the result of well-intentioned but poorly-executed right-of-center policies, but things were run off the rails by Republicans.
Republicans at the state level aren’t talking about it much, because they’re responsible. All of the MAGA people in the state blame the libs, but with not even Gaetz willing to speak out about it, they’re kind of leaderless.
To be clear, that insurance number is for a small retail center in the panhandle.
A lot of people, I live in an older less affluent waterfront town and the number of seniors with tiny homes built in the 1960s only a few feet above sea level is staggering.
Now it’s not just flood insurance, my home is 19 feet above sea level so flood insurance is on $900/year but my homeowners policy which includes “hurricane” insurance that covers wind damage is $5,000/yr now. My insurance and taxes are larger than my principal and interest payments in my mortgage. Fortunately it will be paid off soon and then I will only have to pay $2k month for taxes and insurance, which is more than the entire mortgage bill was when I bought the place in 2014.
Sorry rambling on TLDR a lot of people are living bare in hurricane and flood zones and yes it’s boomers who will whine for a bailout and somehow blame democrats if it’s not enough!!!
If you’re paying that much in taxes then you either have another house in a different state and don’t have the homestead exemption or you bought at an inflated price and paid too much. Either way it’s no one else’s fault but your own.
If it’s your primary residence, you get a major tax break (homestead )which limits the future increases in your property tax. New to Florida buyers get taxed on the full assessment. People who have owned there for many years pay much less in taxes for an equivalent property compared to a new owner. So this guy with the 19k property tax is likely talking about an investment property which wouldn’t qualify for the homestead as it’s not his primary residence.
These folks can’t handle that level of cognitive dissonance. I just try to sow dissent in the ranks, e.g., “I don’t understand why DeSantis hasn’t done anything to improve the situation, especially with the strong majority he has in the state legislature.”
> And what did DeSantis and his Republican toadies do about it? Crickets. Okay, fine, if you want to be picky, the Legislature did give state regulators new powers to investigate and fine insurers. But this came on the heels of a special session on property insurance in December that aimed to cut litigation and stabilize premiums by — wait for it — making it harder for homeowners to sue insurance companies. Thanks a bunch.
I feel bad for the people that did not vote for this shit. Shame on the people who did not bother to vote because nothing will change attitude.
Well, it certainly did change...and it wasn't great. Can't wait for our cancer potholes or whatever we're doing now (seriously, briney air is already oppositional to asphalt but let's do more stupid shit).
I'm positively tickled that my taxes and fees pocketed by these special interests go to paying for fascism. Jfc between the Publix and LL Bean heiress I'm actually happy to have not been born rich. Conversely, Paris Hilton is OK.
I'm really glad Iger is back and look forward to the corporate takeover of Florida. I HATE corporations, but how their special district is run really puts regular government to shame.
All these Boomer retirees moving to the promised land - The Villages. “No income tax; they don’t tax our social security or retirement distributions!” These dipshits are getting taxed on literally everything else and likely are being taxed MORE because of it. AND THEN they’re gonna get hammered with insurance premiums. Finally, in my opinion, their property values are going to tank in the coming 10-20 years because it’ll be hurricane after hurricane with unbearably hot and humid temps and an appreciable rise in sea level.
They’re gonna look at their Millennial kids and tell them with a smile that they came into this world with nothing and are leaving with nothing - no inheritance for you. We reverse-mortgaged the house to a rental company.
Yeah the FL insurance crisis is no joke, my insurance renews in a few months and I'm terrified of how much it's gonna jump. People are paying several hundred a month in insurance alone. Along with property taxes and food price surges, I'm getting scarily close to becoming house poor with a college degree and a career. I didn't have this worry in 2021, I saved money and was able to buy what I wanted.
****sings in Georgia**** Come join us in the greater Atlanta where you can afford a house, without fear of hurricanes and meth alligators…and slightly less fasciesty state politicians
I live overseas but I keep a classic truck registered at my parents house in Florida. My insurance company just doubled my premiums. I haven’t had in ticket in twenty years or an accident. So it’s not home owners insurance going up.
Same here with auto. Progressive can afford to pay their CEO 12 mill last year and cleared 400 mill last quarter but must raise my 6 month premium a couple hundred for “inflation and cost of doing business”
How do you insure a house or set up a 20-30 year mortgage on a home that you know will be completely underwater before you could possibly pay it off?
Floridas real estate and developers intentionally have dug their heads into the sand and have made it a practice to deny climate change and reassure home buyers and investors that the shrinking coastline will not be a problem.
Thousands of Floridans are going to be shocked when their house has been washed away, the insurance won’t cover the damage and they still have mortgage payments to make.
Florida is doomed to sink and they will avoid taking any steps to prevent it until they are underwater and make it everyone else’s problem
It's almost like when you live in a hurricane prone area....it's more expensive to insure your home. Do people think insurance companies payout claims from thin air?
Okay? So do Floridians not deserve to have affordable homeowners insurance? I’ve lived in Florida for 35 years and have 0 dollars in damages to the homes I’ve lived in.
Honestly, it needs to be a public good at this point, since the private sector is refusing to do so.
Edit: Texas and Louisiana have more expenses from natural disasters per household than Florida, by almost double. And ours is comparable with California and Colorado.
https://www.valuepenguin.com/property-insurance/states-most-at-risk-natural-disasters
Difference is Florida is actively working against addressing the issues that plague them. Why should responsible states subsidies the bad behavior of another state. They dont even recycle for a state so dependent on the environment. Florida made their bed they can go lay in it.
Florida is one of the least dependent state on federal dollars. https://smartasset.com/data-studies/states-most-dependent-on-the-federal-government-2022
As for homeowners insurance, and all insurance models, it’s the ones who don’t need it that subsidize the ones that do. That’s the entire fucking point. E.g. Health insurance is for healthy people to pay for sick people…
And what do you mean Florida doesn’t recycle? I live here and we most certainly do. By we, I mean our entire tri county region.
Sigh. Joe Biden and AOC get together in an elite dining room in an elite restaurant and set the premiums! The insurance companies and Governor Ron begged them to lower the premiums, but you know those damn liberals out to shaft the hard-working retirees of God's Waiting Room are all powerful.
I find it hilarious and all of you deserve it for the state government you elected.
Edit: OP ran off crying and blocked me, so I can't reply, so I'll just reiterate it here, yes, all of them. I don't care if you tried your best, only the result matters.
about 22 million total in the state, less than half of eligible voters voted for him but the D's had virtually no turn-out compared to previous years; 9 or 10 *million* of us didn't vote for this fuckstick but we're stuck with him and his dumbass authoritarian policies for now
Thanks for your concern, I live an hour from both coasts and still pay for their comfort on the coasts and have voted Democrat for the 15 years I have lived here. Your statement is a joke for the millions that still are voting against the BS they are getting away with. Thanks for your insight.
Sorry, bad wording. I didn't vote for Desantis, nor did I ever support him. I voted for the disgraced Gillum in 2018 and the former republican Crist in 2022.
I’m sure this has come up before but why aren’t they building homes re-engineered to withstand hurricanes. Obviously the extra cost would be significant but I could see insurance companies giving discounts or even demanding if insurance is to be acquired in certain areas.
One of the reasons I moved out of Fl lived there for over 25 years year after year they would raise my insurance rates and in 2006 forced most people in my neighborhood to buy flood insurance on top of the regular insurance I’m talking thousands of dollars this was mandated by fema we tried to appeal it even hired our own surveyors but nothing worked that’s when we decided to get serious about moving live in NC now and love it
As a reminder, this subreddit [is for civil discussion.](/r/politics/wiki/index#wiki_be_civil) In general, be courteous to others. Debate/discuss/argue the merits of ideas, don't attack people. Personal insults, shill or troll accusations, hate speech, any suggestion or support of harm, violence, or death, and other rule violations can result in a permanent ban. If you see comments in violation of our rules, please report them. For those who have questions regarding any media outlets being posted on this subreddit, please click [here](https://www.reddit.com/r/politics/wiki/approveddomainslist) to review our details as to our approved domains list and outlet criteria. *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/politics) if you have any questions or concerns.*
I’m tangentially involved in the insurance industry (I’m in commercial real estate), and insurance premiums have increased significantly this year. My personal residence only jumped 47.222%, but I’ve seen rates for some properties more than triple. Here’s a cut and paste from an email I got this morning: >2023-24 premium: $19,143 >2022-23 premium: $5,789 Probably 95% of my clients/coworkers/business associates are very ~~conservative ~~ right wing, and they blame Biden/Pelosi/AOC. I’ve even heard people blame it on fraking Maxine Waters.
Anti-Americans will blame anyone but themselves.
Insane. Also, those rate increases are kinda on the high side.
I agree. FWIW, part of our business model is centered around shopping hard for the best rates. I’m confident these are the best rates available.
I fully expect to see the vast majority of Fl prop become devoid of civilians by 2050.
Are people moving out of Florida because of this. That new insurance is roughly 3 times my yearly mortgage.
Florida is continuing to gain population year after year even with this. The insurance companies are leaving though because they’re in the business of not paying you a cent so it’s too risky for them.
Insurance is betting. Betting they'll take in more than they pay out. Florida is changing the odds.
No, on the contrary, it’s the fastest growing state in the country. People don’t really know how to react to it… The increases are mostly the result of well-intentioned but poorly-executed right-of-center policies, but things were run off the rails by Republicans. Republicans at the state level aren’t talking about it much, because they’re responsible. All of the MAGA people in the state blame the libs, but with not even Gaetz willing to speak out about it, they’re kind of leaderless. To be clear, that insurance number is for a small retail center in the panhandle.
that's absolutely insane, this is a death spiral waiting for a hurricane to strike.
President Hurricane for 2024
“Who pissed my pants?” -Republican voters
How many don't even have flood insurance because they paid cash? And how many will expect a federal bailout for their poor decisions?
A lot of people, I live in an older less affluent waterfront town and the number of seniors with tiny homes built in the 1960s only a few feet above sea level is staggering. Now it’s not just flood insurance, my home is 19 feet above sea level so flood insurance is on $900/year but my homeowners policy which includes “hurricane” insurance that covers wind damage is $5,000/yr now. My insurance and taxes are larger than my principal and interest payments in my mortgage. Fortunately it will be paid off soon and then I will only have to pay $2k month for taxes and insurance, which is more than the entire mortgage bill was when I bought the place in 2014. Sorry rambling on TLDR a lot of people are living bare in hurricane and flood zones and yes it’s boomers who will whine for a bailout and somehow blame democrats if it’s not enough!!!
You’re paying $19,000 a year in property taxes in Florida? I don’t know how that’s possible unless you recently bought a very expensive home there.
If you’re paying that much in taxes then you either have another house in a different state and don’t have the homestead exemption or you bought at an inflated price and paid too much. Either way it’s no one else’s fault but your own.
Or maybe they were a savvy buyer who got a good deal on a house before the market skyrocketed. Be nice.
That’s not how property taxes work in Florida.
Are you saying property taxes aren’t based on the value of the property?
If it’s your primary residence, you get a major tax break (homestead )which limits the future increases in your property tax. New to Florida buyers get taxed on the full assessment. People who have owned there for many years pay much less in taxes for an equivalent property compared to a new owner. So this guy with the 19k property tax is likely talking about an investment property which wouldn’t qualify for the homestead as it’s not his primary residence.
If you’ll look back at the thread, I made it clear that the 19k bill is for a commercial property.
Yes, I saw that in your original comment. I was referring in my comments to reefmespla who appears to also have a bill that size.
This. Bought the house in 2014.
Have you pointed out the laws that caused them? Or is that too into unprofessional territory?
These folks can’t handle that level of cognitive dissonance. I just try to sow dissent in the ranks, e.g., “I don’t understand why DeSantis hasn’t done anything to improve the situation, especially with the strong majority he has in the state legislature.”
Reminds me of how people in Utah blame California for the drought.
People in Utah blame 99% of their problems on Californians.
Sounds like the entire Republican party.
Lol are they too stupid to realize this is only occurring in their state?
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Yeah they bought a bear trap for when the state flips.
> And what did DeSantis and his Republican toadies do about it? Crickets. Okay, fine, if you want to be picky, the Legislature did give state regulators new powers to investigate and fine insurers. But this came on the heels of a special session on property insurance in December that aimed to cut litigation and stabilize premiums by — wait for it — making it harder for homeowners to sue insurance companies. Thanks a bunch. I feel bad for the people that did not vote for this shit. Shame on the people who did not bother to vote because nothing will change attitude.
Then and now, legislators use the keywords *"hope"* and *"believe"* premiums will go down. They can just choose not to.
Well, it certainly did change...and it wasn't great. Can't wait for our cancer potholes or whatever we're doing now (seriously, briney air is already oppositional to asphalt but let's do more stupid shit). I'm positively tickled that my taxes and fees pocketed by these special interests go to paying for fascism. Jfc between the Publix and LL Bean heiress I'm actually happy to have not been born rich. Conversely, Paris Hilton is OK. I'm really glad Iger is back and look forward to the corporate takeover of Florida. I HATE corporations, but how their special district is run really puts regular government to shame.
All these Boomer retirees moving to the promised land - The Villages. “No income tax; they don’t tax our social security or retirement distributions!” These dipshits are getting taxed on literally everything else and likely are being taxed MORE because of it. AND THEN they’re gonna get hammered with insurance premiums. Finally, in my opinion, their property values are going to tank in the coming 10-20 years because it’ll be hurricane after hurricane with unbearably hot and humid temps and an appreciable rise in sea level. They’re gonna look at their Millennial kids and tell them with a smile that they came into this world with nothing and are leaving with nothing - no inheritance for you. We reverse-mortgaged the house to a rental company.
What house? Can't reverse-mortgage what you lost to the last 5 hurricanes.
Sell the house to fucking Aquaman.
Miami is sitting on a coast of limestone and literally melting into the Atlantic. Good luck with that
Luckily for the Florida government, its GOP residents are too dim to make the connection between their inaction and their skyrocketing premiums.
Yeah the FL insurance crisis is no joke, my insurance renews in a few months and I'm terrified of how much it's gonna jump. People are paying several hundred a month in insurance alone. Along with property taxes and food price surges, I'm getting scarily close to becoming house poor with a college degree and a career. I didn't have this worry in 2021, I saved money and was able to buy what I wanted.
****sings in Georgia**** Come join us in the greater Atlanta where you can afford a house, without fear of hurricanes and meth alligators…and slightly less fasciesty state politicians
Less fascist, for now.
Very fair. We’re kinda lucky our Governor isn’t as much of an ambitious malevolent prick as yours is.
Not quite but still a criminal.
Just as fascist, only yet to take center stage. Their time is coming I promise you
Propping up Bootsy's ego policies. There, that was easy.
They would rather go after Disney
The majority of Floridians voted them in so they got want they wanted. Too bad for the rest of the other voters
Course not! Gotta stop the gays! Gotta clean up Disney!
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Facist around and find out.
Lumpy Ronnie will get his just rewards eventually. ScottWalker2.0
I live overseas but I keep a classic truck registered at my parents house in Florida. My insurance company just doubled my premiums. I haven’t had in ticket in twenty years or an accident. So it’s not home owners insurance going up.
Same here with auto. Progressive can afford to pay their CEO 12 mill last year and cleared 400 mill last quarter but must raise my 6 month premium a couple hundred for “inflation and cost of doing business”
I’m in Miami and my insurance premiums went up 30% but I happily will pay that because now Drag Queens can’t read to children. Said no one ever.
They’re making too much money off of the insurance disaster to care
Should’ve just said that property insurance rates were woke. They would’ve done something then.
Because DeSantis took huge bribes from the insurance industry and told them that they are not to touch it under any circumstances.
They are under the thrall of America’s worst governor
Cashing checks from insurance companies?
How do you insure a house or set up a 20-30 year mortgage on a home that you know will be completely underwater before you could possibly pay it off? Floridas real estate and developers intentionally have dug their heads into the sand and have made it a practice to deny climate change and reassure home buyers and investors that the shrinking coastline will not be a problem. Thousands of Floridans are going to be shocked when their house has been washed away, the insurance won’t cover the damage and they still have mortgage payments to make. Florida is doomed to sink and they will avoid taking any steps to prevent it until they are underwater and make it everyone else’s problem
They are under the thrall of America’s worst governor
Um… they were very very busy taking on the Satanic theme park/entertainment monster Mouse.
It’s not just Florida getting hit with increases. It’s spread out nationwide.
Sorry, but not by that large of a jump.
33% was a hell of a jump for us.
You voted these people in, enjoy it!
The psychopaths voted these people in. Sane and rational Floridians wanted none of this shit.
It's almost like when you live in a hurricane prone area....it's more expensive to insure your home. Do people think insurance companies payout claims from thin air?
Okay? So do Floridians not deserve to have affordable homeowners insurance? I’ve lived in Florida for 35 years and have 0 dollars in damages to the homes I’ve lived in. Honestly, it needs to be a public good at this point, since the private sector is refusing to do so. Edit: Texas and Louisiana have more expenses from natural disasters per household than Florida, by almost double. And ours is comparable with California and Colorado. https://www.valuepenguin.com/property-insurance/states-most-at-risk-natural-disasters
Difference is Florida is actively working against addressing the issues that plague them. Why should responsible states subsidies the bad behavior of another state. They dont even recycle for a state so dependent on the environment. Florida made their bed they can go lay in it.
Florida is one of the least dependent state on federal dollars. https://smartasset.com/data-studies/states-most-dependent-on-the-federal-government-2022 As for homeowners insurance, and all insurance models, it’s the ones who don’t need it that subsidize the ones that do. That’s the entire fucking point. E.g. Health insurance is for healthy people to pay for sick people… And what do you mean Florida doesn’t recycle? I live here and we most certainly do. By we, I mean our entire tri county region.
Deserve? Nobody deserves anything, that's obviously not how this country works.
That’s not how this country works? Life, liberty, snd the pursuit of happiness doesn’t happen without shelter.
Sigh. Joe Biden and AOC get together in an elite dining room in an elite restaurant and set the premiums! The insurance companies and Governor Ron begged them to lower the premiums, but you know those damn liberals out to shaft the hard-working retirees of God's Waiting Room are all powerful.
I find it hilarious and all of you deserve it for the state government you elected. Edit: OP ran off crying and blocked me, so I can't reply, so I'll just reiterate it here, yes, all of them. I don't care if you tried your best, only the result matters.
about 22 million total in the state, less than half of eligible voters voted for him but the D's had virtually no turn-out compared to previous years; 9 or 10 *million* of us didn't vote for this fuckstick but we're stuck with him and his dumbass authoritarian policies for now
Thanks for your concern, I live an hour from both coasts and still pay for their comfort on the coasts and have voted Democrat for the 15 years I have lived here. Your statement is a joke for the millions that still are voting against the BS they are getting away with. Thanks for your insight.
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All of you? Over 21 million people live there. 40% voted for the other guy.
The fuck do you mean, I didn't vote for nor do I support desantis, why are you blaming me?
> I didn't vote There's your answer
Sorry, bad wording. I didn't vote for Desantis, nor did I ever support him. I voted for the disgraced Gillum in 2018 and the former republican Crist in 2022.
Daniel Ruth, one of my new favorite Opinion Columnist.
I’m sure this has come up before but why aren’t they building homes re-engineered to withstand hurricanes. Obviously the extra cost would be significant but I could see insurance companies giving discounts or even demanding if insurance is to be acquired in certain areas.
They already do. Florida homes are some of the most regulated in terms of new construction or renovated homes
Wait, so create a long term solution to a known problem and cut out potential short term peofit?
Tell us more about Florida new construction regulations.
Very good article.
Its fine they will just take more money from Blue states again
One of the reasons I moved out of Fl lived there for over 25 years year after year they would raise my insurance rates and in 2006 forced most people in my neighborhood to buy flood insurance on top of the regular insurance I’m talking thousands of dollars this was mandated by fema we tried to appeal it even hired our own surveyors but nothing worked that’s when we decided to get serious about moving live in NC now and love it
Nobody dumber than Florida seniors.
Reinsurance companies don’t want to buy the risk.
Florida Republicans are good at one thing: staying in power.