Homeowners Insurance

[RickFLM4]

Originally Posted by ToddBlack88

That’s crazy!
I pay between $1500 and $1800 over a 4 year period. It always seems to go up $500 over a 5 year span so I find a new carrier at $1500 every 5 years or so. That’s full build replacement on our 2500sq/ft shack at $2mil out here in crazy town west coast.

Hurricanes

[dreamingat30fps]

Originally Posted by RickFLM4

Hurricanes

While that may be part of the reason and definitely the excuse that is used, I think there is more to it. I think there is a ton of fraud going on also. It’s FL after all almost every episode american greed was based in FL.

[RickFLM4]

Originally Posted by dreamingat30fps

While that may be part of the reason and definitely the excuse that is used, I think there is more to it. I think there is a ton of fraud going on also. It’s FL after all almost every episode american greed was based in FL.

Yes there is a ton of fraud like people and some roofers working together to get new roofs at insurer / the rest of our expense whether truly caused by storm damage or not. Not sure how much more prevalent it is here than elsewhere but for sure it is here.

[Bimmersandmopars]

Originally Posted by VAcurler

Check out the Marshall fire in Colorado last night. Neighborhoods in the suburbs burned down overnight with almost no warning. These weren't wildfires but heavily populated areas. I'd suggest calling your broker and discussing raising your deductibles and starting points for insurance if you want to cancel but if nature comes along and wipes away your house, where are you going to go TOMORROW while you rebuild?

From The Weather Channel Android App: https://weather.com/news/weather/video/drone-reveals-destruction-from-colorados-marshall-fire?pl=pl-the-latest

[tranquility]

Originally Posted by Tommy-G

dreamingat30fps my grandparents had a beach house in NJ and paid homeowners and flood insurance for 27 years on a house they paid $30k for. The house was appraised for $600k because of the corner lot and Sandy wiped them out completely….he cancelled insurance a year before the storm bc he said “he never needed it”

He sold the lot for $100 to my uncle on his death bed

That is some scary stuff. Murphy's Law, ppl. Poor grandparents

OP, you really need to shop around like crazy, by yourself and using lots of brokers. To go w/o insurance is just insane imo.