you can pay your insurance on time monthly for years and they can just drop you and you get nothing back is just plain theft. Plus the fact that you often have to sue them to get the service you pay for.
Not so at all You dont pay money, to get something. .You pay money on insurance, to have a back up, with cash behind you, IF something happens. If nothing happens, you are owed nothing. Its not a maintwenance plan, its insurance, You pay for years on your car, and if you never get in a wreck, youre not owed anything. Insurance is for an event out of the ordinairy, listed in all policy, fire, hail, wind, etc, and if that happens, and its REALLY from that event, not lack of maintanence or bad installation ,or just getting old, then and only then does the insurance owe you. you pay for dsecurity, not stuff, or, to get somehting after years foir your money spent This attitude you have is the problem ...... People think insurance owes them becasue they pay each month They do not
It's also caused by excessive claims in a state that has constant natural disasters hitting it. You could pretend it was just those three things causing it or you could look at reality and see that when insurance companies have to pay a lot of money out that they will of course be raising rates to compensate for it, or do you not know what capitalism is?
But not mentioning the biggest offenders in the situation, companies like BlackRock coming in buying up all the nice properties above market value driving prices up
Man, I watched that whole video and was sure it was about property insurers going out of business. I was shocked that this 'news' agency was blaming insurers going out of business on fraudulent claims and not on the ridiculous business strategy of collecting monthly amounts from policy holders and then paying for people's home repairs as climate change fueled disasters reach new highs almost yearly and Florida being at the center of the bullseye for tropical storms. Were the natural disaster fatalities for last year doubling over the previous year also result from fraudulent claims or do you also think that 'companies like blackrock coming in buying up all the nice properties' do that too?
@@plusorminus5770 Florida has always had high insurance claims. The difference now is that supplies for repairing houses is 2-3 times more expensive than a year or two ago. So the insurance agencies can't get the supplies and labor and still make a profit anymore. And that inflation goes back to the government locking people down in response to Covid. People don't realize how bad the effects of turning off the economy are. Much worse than we would've been just letting Covid run it's course naturally.
@@dyllinroberts1442 I hope you won't mind me simply stating that your economic and public health analysis of Covid is clearly made by a layman and that even though many in media and at least one half of the political world wants you to believe these things, practically no economists or public health officials do. On the subject of Florida's insurance premiums, Floridians have always paid more for insurance than the rest of the nation and Floridians had a rate increase of 35% from 2016-2021. The reasons stated don't mention covid or changing public policy to provide every American with a Covid infested blanket like you suggest, but instead cite 3 things: being taken to court by 3rd parties for not paying out claims as argued by AOB firms 2) multiple hurricanes in less than 5 years (that was before 2021's tropical storms which mowed down much of the panhandle reconstruction) 3) and this is the one that tells you that their business model is non-sense, at least in a world where disasters increase in intensity and frequency over time due to climate change, creeping losses which are simply requiring more claims to be paid out than expected so the insurance premiums don't cover those costs along with admin expense.
@Ryan Dumas, This is what capitalism is all about, insurance companies are paying out massive claims in Florida so they have to charge rates to cover all their loses in Florida. It's amazing how these republicans don't seem to understand the concept of capitalism after claiming how awesome it is for all Americans.
The FL legislature has been GOP controlled for many years. They could have done something about this LONG ago but politicians are in cahoots with the housing related industries from realtors, to builders, to insurers. They aren't remotely concerned about FL residents and homeowners because they are controlled by campaign donors.
Kind of like how the Democrats previously, and now, when they control of Congress, did nothing to codify Roe v, Wade into law? So spare us the partisan BS.
I guess Florida forgot to include this in their sales pitch about how wonderful it is to live there. I live just outside Pittsburgh and only paid $900 for my annual homeowners insurance policy.
@badinstinctsTH-camI will. You can deal with your own crises. Though I do wish the Fed's would stop sending y'all all that Flood insurance Welfare and FEMA welfare.
@@lindahammie3674 Yes it does. The only thing it doesn't cover is if my home collapses into an abandoned coal mine. If I want that it is a separate policy.
I am in the same exact situation as the first lady. Never even gotten a notice that they were liquidating. Found out on April 11th that they were being liquidated on April 13th. Just paid my premium on April 2nd ($3600) and had to scramble to find coverage going into this hurricane season. Finally was able to get approved with citizens, now I just have to wait to hopefully get refunded for the yearly premium I paid 11 days before they went under
Insurers spend billions of dollars on stadium endorsements, advertising, and million dollar salaries - but blame their inability to do what they were created to do (insure people) on consumers. Maybe if the CEOs of these publicly traded company’s were not worried about driving up their stock price but instead worried about all the every day people that are being harmed by their bad business practices of denying and underpaying valid claims, they may not have this problem. These billion dollar companies continue to push lobbying efforts to strip consumers and homeowner’s of their rights all so they can take in more money and continue to get away with not paying claims. Guarantee - no matter what the Florida Legislature passes, rates will not go down… they never do. And the result will be that homeowners ability to bring any claim under the policy they pay for will be limited or constrained.
They've also apparently been paying out tens of billions to homeowners in Florida where a natural disaster is right around the corner. Who knew that insurance companies paying out billions and billions of dollars would cause them to charge rates needed to recoup them. Or do you think they all are charities who are just there to help the people of Florida and not make you know, money.
@@JacksonHoulihan Where did you get information that insurers are paying tens of billions of dollars in claims? Last year (2020/21) the Florida legislature passed a bill requiring insurers to track the amount spent on claims and amounts spent on lawsuits arising from claims. Those amounts were supposed to be disclosed at the beginning of the year… we are in April of 2022 and the insurers have failed to disclose their numbers. So I don’t know where you could be getting yours. The fact of the matter is, many/most insurers are publicly traded companies who have shareholders to please. Meaning they have to make more money so their stock price goes up and the execs can get better bonuses. There are two ways insurers can make more money besides/in addition to spending millions/billions of dollars on ads to get clients- pay out less for claims or increase premiums. In Florida insurers have been and are continuing to push a narrative as well as legislation to do both. The terrible logic of insurance company’s - Please be sure to continue paying higher premiums but also never file a claim because if you do we will raise rates. Bottom line - no matter what is passed, it is highly unlikely rates will go down any significant degree.
@@thebear6888, Well now you see the downsides to making things like this a for profit game, same goes for health insurance. It makes zero sense to have for profit companies doling out healthcare when they're only interested in making money and you can't do that if you're actually creating good sound health care for people, because that shit is expensive and not paying for medical necessities to boost profits means you get the shitty piecemeal system we have now where people go bankrupt to pay for care to make sure those execs can get those bonuses. Great for them, terrible for America.
After i saw Universal Insurance buying a 150,000 custom motorcycle on American Chopper on TV i called that week and canceled my home insurance. I was absolutely in disbelief that they would waste my money like that.
And, to add insult to injury, the banks will add insurance on the property if the insurance company cancels, and THAT coverage will be more expensive and give less coverage. 🙄🙄🙄
Insurance companies tendency to try every means possible to weasel out of paying claims plus lawyers figuring out creative ways to sue for damages ….sounds like medical malpractice and homeowners have much in common.
If any legislation is past, the odds of it benefiting the home owner is unlikely. The insurance companies are spend our premiums to lobby for regulation which benefit themselves not home owners.
I think the finger is pointing in the wrong direction. Big insurance,, the bad guy !! But how many home owners have a leak in the bathroom, the carpet gets wet,, and they immediately peal out the carpet the flooring the walls. I am a licensed builder,,, and the story told by the lady,,, the water had been in the carpet for one day. Fans and dehumidifier could have dried it out. A good steam cleaning with the suction device to pull the watewr out. The was no reason to pull out the carpet. Yes the leak had to be accessed and fixed,, but why pull out the bath wall, the tile, the floor,, the vanity,, The wall on the other side is a flat wall in the living room. No. Black mold does NOT happen in a day,, it takes months and black mold can be killed with Clorox and kept from coming back with 20 Mule Team Borax. So instead of the repair requiring 600 dollars and a talented plumber and drywall repairman two days,, no you have to rip it all out aand bill the insurance company 20,000 dollars. It is no wonder that your insurance rates are 20 times higher than mine. This lady did it,, and a 100,000 other ladies just like her did it. It is not the fault of big insurance.. it IS your fault.
I had a flooded basement (not FL) and I didn't stand around waiting for someone else to clean it up. I got out my shop vac etc. and got to work in the middle of the night. As for tossing carpet, it seems like carpet falls apart once it is soaked. The glue used these days dissolves when wet so that probably has to go anyway. Ours did.
@@kjisnot I have done some study on this since this comment. I was correct,,, but that is not the biggest reason that Florida insurance has gone through the roof,,, literally. After all the roofing scams and shenanigans after the hurricanes of 20 years ago,, Florida passed several almost conflicting laws concerning roofers. A roofer, licensed and insured, approaches a homeowner. "Oh my ! Look at all the hail damage to your roof !" (wink, wink) If a Florida roof reqires 25% or more of the roof replaced,, the insurance company is on the hook for a full new roof. The roofer says, "And it will not cost you a dime out of your pocket beyond the deductible." The roof is done with no inspection by the insurance company and then the roofer sues the insurance company for the cost recovery. Buy,,, if the insurance company is deemed to 'slow pay' the insurance company owes the lawyer's fees X 2 or X 3. A lawyer charges 700 or 800 dollars per hour and racks up 60 hours of billing in a 34 hour week. It gets real expensive for the insurance company,,, really fast. There are roofer/lawyer teams now that run this scam day in and day out. Lots of roofs,, that were just fine,, or half their life,, are replaced by new,, the homeowner just pays the deductible. The roofer makes REALLY good money. Florida passed these laws,, with this result.
Florida Man here. I'll tell you how I fixed the problem. I took out a non-secured loan and paid off my house. I then no longer need insurance. At $7000 a year, I'll take the risk. Why? In over 30 years, I never had a claim. Even if you do have a claim, the insurance company either shorts you or just outright stiffs you.
@@mn_ice I have lived in Florida for over 40 years. Got hit by at least 6 hurricanes. Had minor roof damage on one house. Think of it this way. I've saved over $50,000 buy being self insured. I do my diligence with maintenance on my houses to survive hurricanes. I'll keep my money and use it on my own house as opposed to giving my money to some insurance company hoping they'll help me when I need it because history has clearly shown me that they will not.
@@howardkerr8174 Here in Florida, 1 out of 5 have no car insurance. You need car insurance here because if an uninsured motorist hits you, you're on the hook for your medical and car repair bills. Also they don't have insurance because they are poor / broke. You can't get blood out of a stone.
There may have some bogus claims I am sure of that, but it’s almost unavoidable reality that Spanish tiles are ( although ) beautiful but yet very venerable to aging, that’s why the projected life time is about 20 years. Many developments were built around 1998- 2000, and due to the extreme heat,strong winds the roof damage is a very common thing. That’s why we have insurance policies. So the insurers would like to collect their fees, payout a claim is not part of their way of doing Business. Therefore they shut down when their claims are damaging their balance sheets.
This is the part where someone explains to the insurance company that is cheaper to pay for the repairs then it is to fight them in court because they refuse to pay for the repairs. Funny thing is my house had water intrusion from the roof only 3 years old 15 years ago and they would not cover any repairs related to the damage. If a national emergency isnt activated bringing fema to bail them out, they could care less. So all of the damage to the roof and to the interior of our home had to come out of our pocket. And it doesn’t do anything but keep getting worse as time goes on and every screwball politician we get does some kind of bullshit legislation that they weasel around and make it worse than it was to begin with.
This story is total crap. Lawsuits wouldn't get filed if claims were paid properly. The claim total multiplies immensely due to the suit. As a contractor I do not get the insurance company involved unless it is truly justified. I know there are many unscrupulous contractors out there that do and take advantage, but that does not make these companies go broke.
Yeah, sure, we'll fix the insurance crises that affects every person in the state. Just let us finish the important work of banning books and fighting with Mickey Mouse.
Couldn't have said it better myself. Why would they even try to stop insurance corruption? Look who is one of the representatives of the state; the biggest medicaid crook of all, Rick Scott.
I hardly had any claims after a category 5 hurricane. The next year they went $1000. Then the following year they dropped me! Guess why? Excessive gardening! Huh?! My coworker lost her insurrance because she got solar power!
The insurance companies did the same thing years ago. The only defense statewide is not let a company or any subs to be barred from state! See what happens when they can't sell auto and life , sell stocks and bonds, own property. Kick them out of state!
And just so you know it's not just homeowners insurance going up car insurance doubled this year too. Especially if you live in the three biggest counties in Florida.
Water leaks happen, and when they do, it’s crucial to get ahead of them before they cause damage. It’s basic home maintenance, which is the responsibility of the homeowner. I’m surprised Homeowners insurance stepped in at all. Too, judging by the opened walls, the home’s construction looks really shoddy. If it’s significantly representative of the houses being insured in Florida, that alone puts them in a higher risk category (higher premiums). Between the roofing scandal, reliance on insurance for maintenance failures, poor construction, and high number of weather-related damage, it’s no wonder insurance companies are jacking up premiums, going under, and leaving the state.
Insurance is a scam that we are forced to use. I paid into Allstate for 30 years must have been $100k and they wouldn't fix a $16k roof. I was so mad I changed companies and lowered my payments. I would have gone another 30 years (another $100k) and they lost all that revenue. I dropped Allstate because of stupidity.
@@johngrasso1483 my insurance wont pay for damage caused by a slow leak, any observant homeowner would have caught that. That is why I do walk throughs on my rentals once a year because tenants dont care if there is a slow leak under the dishwasher or kitchen sink, as they dont even pay the water.
@@johngrasso1483 was it a slow leak over a long period, My State Farm insurance denied me when I a slow leak that a tenant did not tell me about. $40,000 in damage not covered. State Farm only covers leak damage from a sudden burst. This was 2018 in Santa Cruz County CA
@@johngrasso1483 I have State Farm insurance on my rented condos in Watsonville CA, a slow leak that a tenant did not inform me about caused 40K in damages, claim denied. fortunately I was able to fix myself, lost 2 months rent to repair.
I love the gymnastics the media and the Florida government has to do to not say "climate change"! Florida may not believe in climate change, but the insurers do.
@@billwhitis9997 The biggest banks in the world routinely lend money to fund construction and mortgage properties on the water. Are you smarter then them? Do they not have access to the same info you do? Now, since your boy Al Gore has been proven wrong with prediction after prediction, example being by 2013 there would be no ice on the North Pole, your point about insurers is not related to so called climate change. Millions of homes have been built close to the oceans. They’ve always been high risk from a weather event. The likelihood of catastrophe has increased. Btw weather has cycled since the beginning of time. It’s been warmer here several hundred years ago than today. Guess what happens when things warm up? Less people die of starvation and poverty. Climate change is actually “weather”. The mental gymnastics result from trying to foment a crisis from natural events. Not even getting into the ongoing efforts to influence weather. That might be too much for you.
The problem is Americans think insurance companies are there to help you when they are all for profit. Insurance does not lose money and if it did they would close shop. These people are all out for themselves
Carriers take your premiums and then pay sports hero’s to do commercials on the Super Bowl , but when a lady needs to make a claim, they blame contractors, who also pay outrageous insurance premiums. Let’s talk about that too….
I paid for flood insurance for 30 years and homeowners as well. My home was classified as in a flood zone. My homeowners and flood was included in my mortgage payment. My payments kept rising and rising. One day we received a letter from FEMA stating we were no longer in a flood zone and didn't have to care flood insurance if we didn't want too. Ok so where did this flood zone come from and how did it go away after 30 years. My money was gone and I never thank God had 💦 in my house. These insurance companies were good in taking your money until you really need help then they do not want to pay for damages. Where did all my unused money go?? They used it to pay other people's claims and I got would of, could of and that was it. These companies run a ponsey scheme an we are the ones being taken advantage of. I had a waterman break and damage to my 🏠.My insurance company gave me 12,000 with a 3,600 deductible that I never agreed to accept. After taking the deductible away I was given 8,000 to repair 28,000 worth of damage. All the rest was out of pocket..Way to go!!! We are being bamboozled, and hoodwinked to the poor house and these politicians are just running off at the face while our lives and everything we have worked so hard are washed away. Had I keep my money and put it in my own emergency home fund for me I would have had way more then enough to repair my own damage.
@@osu33089 bullshit it doesnt. Let's take something you pay for and take it away unless you pay 65% more for it and then tell us it's not a financial hardship.
@@backalleyburrito1815 it doesn’t…pull money from your rich accounts and fix your damage. Stop whining to get press attention and pretend like a small home repair is a major set back in life. Bear in mind we are not debating the morality of the insurance company.
"We need to act now before this becomes a catastrophe!" Desantis: No, we need to focus on banning math books and teachers from saying "gay!" Why are Trumpublican priorities always, always, always culture war bullsh!t?
Let's talk about how US taxpayers are still being made to subsidize home insurance in places like Florida, locations that will be repeatedly impacted by negative impacts of climate change.
I hope Desantis can take the money from denying woke Disney’s special status and put out it toward lowering taxes to defray the insurance costs . Also he should find ways to crack down on insurance fraud.
Repair (materials and labor) costs are way up so add to fraud and litigation costs as well as climate change events, all man-made and inflating at the same time.
Just looks like the governor of Florida worried about the wrong thing. Insurance on my house in Texas is $1200 and that’s more because of the value of the house/supplies going up and snovid last year.
The lower middle class will feel the pain with this mostly. The others whom own have the money to pay . An extra even doubled insurance fee won't make them lose their home because the can pay it . So the lower middle class are over. Only thing is I would not get too comfortable you higher class, they're probably coming for you next. Good stuff right?
@@osu33089 well when yours drops you when you need them most and you got to go to another company and make you pay 60% more I dont wanna hear you cry about it cause you deserve that shit. It doesnt matter how much money you think she has. I have a nice home, I make no money at all. I am broke, but I bet my home is way nicer than yours.
The insurance companies and the governor and CBS all on one side and that's normal folks on the other. Our government is supported to be protecting us from CEO price gouging.
@@RM-xf9gi this scenario is not much different than my 85 year old neighbor lady who owns 3 houses free and clear and has a $300k classic car sitting in the backyard pretending like she can’t cover her half of a 50 foot fence replacement. By law, she owns half of it but she claims that it’s my fence since the previous owner claimed it to be 100% his when he rebuilt it. Point is some people with a million in the bank cry financial hardship when it is no where near the case.
If you don't want insurance,sell your house. The fine legislators of Florida don't need this crap. The citizens never donate as much money to the gop. Businesses do. So stop your whining and sell your real estate to real estate investment businesses, they understand how America works. Tax the middle class! Business folk create jobs!
you can pay your insurance on time monthly for years and they can just drop you and you get nothing back is just plain theft. Plus the fact that you often have to sue them to get the service you pay for.
They own the politicians.
Yup. FL sucks .
Not so at all
You dont pay money, to get something. .You pay money on insurance, to have a back up, with cash behind you, IF something happens. If nothing happens, you are owed nothing. Its not a maintwenance plan, its insurance, You pay for years on your car, and if you never get in a wreck, youre not owed anything. Insurance is for an event out of the ordinairy, listed in all policy, fire, hail, wind, etc, and if that happens, and its REALLY from that event, not lack of maintanence or bad installation ,or just getting old, then and only then does the insurance owe you. you pay for dsecurity, not stuff, or, to get somehting after years foir your money spent
This attitude you have is the problem ......
People think insurance owes them becasue they pay each month
They do not
@@nomadicrecovery1586 well yeaaa.
@@Davido50 Most dont get that
Caused by 3 factors: Greed, Fear & Narcissistic Tendencies.
It's also caused by excessive claims in a state that has constant natural disasters hitting it. You could pretend it was just those three things causing it or you could look at reality and see that when insurance companies have to pay a lot of money out that they will of course be raising rates to compensate for it, or do you not know what capitalism is?
and climate change
FL sucks. Climate change will make it worse there. No thanks.
@@Davido50 , Climate change is going to make Florida smaller
But not mentioning the biggest offenders in the situation, companies like BlackRock coming in buying up all the nice properties above market value driving prices up
Man, I watched that whole video and was sure it was about property insurers going out of business. I was shocked that this 'news' agency was blaming insurers going out of business on fraudulent claims and not on the ridiculous business strategy of collecting monthly amounts from policy holders and then paying for people's home repairs as climate change fueled disasters reach new highs almost yearly and Florida being at the center of the bullseye for tropical storms. Were the natural disaster fatalities for last year doubling over the previous year also result from fraudulent claims or do you also think that 'companies like blackrock coming in buying up all the nice properties' do that too?
@@plusorminus5770 Florida has always had high insurance claims. The difference now is that supplies for repairing houses is 2-3 times more expensive than a year or two ago. So the insurance agencies can't get the supplies and labor and still make a profit anymore. And that inflation goes back to the government locking people down in response to Covid.
People don't realize how bad the effects of turning off the economy are. Much worse than we would've been just letting Covid run it's course naturally.
@@dyllinroberts1442 I hope you won't mind me simply stating that your economic and public health analysis of Covid is clearly made by a layman and that even though many in media and at least one half of the political world wants you to believe these things, practically no economists or public health officials do. On the subject of Florida's insurance premiums, Floridians have always paid more for insurance than the rest of the nation and Floridians had a rate increase of 35% from 2016-2021. The reasons stated don't mention covid or changing public policy to provide every American with a Covid infested blanket like you suggest, but instead cite 3 things: being taken to court by 3rd parties for not paying out claims as argued by AOB firms 2) multiple hurricanes in less than 5 years (that was before 2021's tropical storms which mowed down much of the panhandle reconstruction) 3) and this is the one that tells you that their business model is non-sense, at least in a world where disasters increase in intensity and frequency over time due to climate change, creeping losses which are simply requiring more claims to be paid out than expected so the insurance premiums don't cover those costs along with admin expense.
You sure it's not that they have to pay excessive claims because the state is one big walking natural disaster?
@Ryan Dumas, This is what capitalism is all about, insurance companies are paying out massive claims in Florida so they have to charge rates to cover all their loses in Florida. It's amazing how these republicans don't seem to understand the concept of capitalism after claiming how awesome it is for all Americans.
The FL legislature has been GOP controlled for many years. They could have done something about this LONG ago but politicians are in cahoots with the housing related industries from realtors, to builders, to insurers. They aren't remotely concerned about FL residents and homeowners because they are controlled by campaign donors.
You are correct I brought this problem up in 1998 they have done nothing about it it's a scam from the top down
It started with Mr Flip Flopper Charlie Crist. He was 100% in with the insurance companies.
Kind of like how the Democrats previously, and now, when they control of Congress, did nothing to codify Roe v, Wade into law? So spare us the partisan BS.
Yea well democrats are destroying the country. Obiden.
This has nothing to do with a party!!! This is called insurance always being a scam
I guess Florida forgot to include this in their sales pitch about how wonderful it is to live there. I live just outside Pittsburgh and only paid $900 for my annual homeowners insurance policy.
@badinstinctsTH-camI will. You can deal with your own crises. Though I do wish the Fed's would stop sending y'all all that Flood insurance Welfare and FEMA welfare.
@@paulconner4614 we dont get that money....its like all the money that went to Haiti from the Clinton Foundation...it just disappeared 😕
Does it cover roof ??
@@lindahammie3674 Yes it does. The only thing it doesn't cover is if my home collapses into an abandoned coal mine. If I want that it is a separate policy.
@@paulconner4614 thank you for your information
I am in the same exact situation as the first lady. Never even gotten a notice that they were liquidating. Found out on April 11th that they were being liquidated on April 13th. Just paid my premium on April 2nd ($3600) and had to scramble to find coverage going into this hurricane season. Finally was able to get approved with citizens, now I just have to wait to hopefully get refunded for the yearly premium I paid 11 days before they went under
an insurance policy is NOT a maintenance agreement.
Insurers spend billions of dollars on stadium endorsements, advertising, and million dollar salaries - but blame their inability to do what they were created to do (insure people) on consumers. Maybe if the CEOs of these publicly traded company’s were not worried about driving up their stock price but instead worried about all the every day people that are being harmed by their bad business practices of denying and underpaying valid claims, they may not have this problem.
These billion dollar companies continue to push lobbying efforts to strip consumers and homeowner’s of their rights all so they can take in more money and continue to get away with not paying claims. Guarantee - no matter what the Florida Legislature passes, rates will not go down… they never do. And the result will be that homeowners ability to bring any claim under the policy they pay for will be limited or constrained.
They've also apparently been paying out tens of billions to homeowners in Florida where a natural disaster is right around the corner. Who knew that insurance companies paying out billions and billions of dollars would cause them to charge rates needed to recoup them. Or do you think they all are charities who are just there to help the people of Florida and not make you know, money.
@@JacksonHoulihan Where did you get information that insurers are paying tens of billions of dollars in claims? Last year (2020/21) the Florida legislature passed a bill requiring insurers to track the amount spent on claims and amounts spent on lawsuits arising from claims. Those amounts were supposed to be disclosed at the beginning of the year… we are in April of 2022 and the insurers have failed to disclose their numbers. So I don’t know where you could be getting yours.
The fact of the matter is, many/most insurers are publicly traded companies who have shareholders to please. Meaning they have to make more money so their stock price goes up and the execs can get better bonuses. There are two ways insurers can make more money besides/in addition to spending millions/billions of dollars on ads to get clients- pay out less for claims or increase premiums. In Florida insurers have been and are continuing to push a narrative as well as legislation to do both.
The terrible logic of insurance company’s - Please be sure to continue paying higher premiums but also never file a claim because if you do we will raise rates.
Bottom line - no matter what is passed, it is highly unlikely rates will go down any significant degree.
@@thebear6888, Well now you see the downsides to making things like this a for profit game, same goes for health insurance. It makes zero sense to have for profit companies doling out healthcare when they're only interested in making money and you can't do that if you're actually creating good sound health care for people, because that shit is expensive and not paying for medical necessities to boost profits means you get the shitty piecemeal system we have now where people go bankrupt to pay for care to make sure those execs can get those bonuses. Great for them, terrible for America.
After i saw Universal Insurance buying a 150,000 custom motorcycle on American Chopper on TV i called that week and canceled my home insurance. I was absolutely in disbelief that they would waste my money like that.
And, to add insult to injury, the banks will add insurance on the property if the insurance company cancels, and THAT coverage will be more expensive and give less coverage. 🙄🙄🙄
Insurance companies tendency to try every means possible to weasel out of paying claims plus lawyers figuring out creative ways to sue for damages ….sounds like medical malpractice and homeowners have much in common.
FL sucks.
If any legislation is past, the odds of it benefiting the home owner is unlikely. The insurance companies are spend our premiums to lobby for regulation which benefit themselves not home owners.
Florida was complicit in that issue. 🙄🙄🙄
I think the finger is pointing in the wrong direction. Big insurance,, the bad guy !! But how many home owners have a leak in the bathroom, the carpet gets wet,, and they immediately peal out the carpet the flooring the walls. I am a licensed builder,,, and the story told by the lady,,, the water had been in the carpet for one day. Fans and dehumidifier could have dried it out. A good steam cleaning with the suction device to pull the watewr out. The was no reason to pull out the carpet. Yes the leak had to be accessed and fixed,, but why pull out the bath wall, the tile, the floor,, the vanity,, The wall on the other side is a flat wall in the living room.
No. Black mold does NOT happen in a day,, it takes months and black mold can be killed with Clorox and kept from coming back with 20 Mule Team Borax. So instead of the repair requiring 600 dollars and a talented plumber and drywall repairman two days,, no you have to rip it all out aand bill the insurance company 20,000 dollars. It is no wonder that your insurance rates are 20 times higher than mine. This lady did it,, and a 100,000 other ladies just like her did it. It is not the fault of big insurance.. it IS your fault.
I had a flooded basement (not FL) and I didn't stand around waiting for someone else to clean it up. I got out my shop vac etc. and got to work in the middle of the night. As for tossing carpet, it seems like carpet falls apart once it is soaked. The glue used these days dissolves when wet so that probably has to go anyway. Ours did.
@@kjisnot I have done some study on this since this comment. I was correct,,, but that is not the biggest reason that Florida insurance has gone through the roof,,, literally.
After all the roofing scams and shenanigans after the hurricanes of 20 years ago,, Florida passed several almost conflicting laws concerning roofers.
A roofer, licensed and insured, approaches a homeowner. "Oh my ! Look at all the hail damage to your roof !" (wink, wink) If a Florida roof reqires 25% or more of the roof replaced,, the insurance company is on the hook for a full new roof. The roofer says, "And it will not cost you a dime out of your pocket beyond the deductible."
The roof is done with no inspection by the insurance company and then the roofer sues the insurance company for the cost recovery. Buy,,, if the insurance company is deemed to 'slow pay' the insurance company owes the lawyer's fees X 2 or X 3. A lawyer charges 700 or 800 dollars per hour and racks up 60 hours of billing in a 34 hour week. It gets real expensive for the insurance company,,, really fast. There are roofer/lawyer teams now that run this scam day in and day out. Lots of roofs,, that were just fine,, or half their life,, are replaced by new,, the homeowner just pays the deductible. The roofer makes REALLY good money. Florida passed these laws,, with this result.
Not sure what he's going to do. My insurance has already went up 160% since I bought my home..
Florida Man here. I'll tell you how I fixed the problem. I took out a non-secured loan and paid off my house. I then no longer need insurance. At $7000 a year, I'll take the risk. Why?
In over 30 years, I never had a claim.
Even if you do have a claim, the insurance company either shorts you or just outright stiffs you.
It's the same with cars and car insurance: you are NEVER made " even ", there is always some out-of-pocket expense involved.
But hurricanes?
@@mn_ice I have lived in Florida for over 40 years. Got hit by at least 6 hurricanes. Had minor roof damage on one house. Think of it this way. I've saved over $50,000 buy being self insured. I do my diligence with maintenance on my houses to survive hurricanes.
I'll keep my money and use it on my own house as opposed to giving my money to some insurance company hoping they'll help me when I need it because history has clearly shown me that they will not.
@@howardkerr8174 Here in Florida, 1 out of 5 have no car insurance. You need car insurance here because if an uninsured motorist hits you, you're on the hook for your medical and car repair bills. Also they don't have insurance because they are poor / broke. You can't get blood out of a stone.
i can see a dozen things in that wall and house that look shady and wrong. I wouldnt insure that garbage either...
Get out of FL while you can! Just terrible.
There may have some bogus claims I am sure of that, but it’s almost unavoidable reality that Spanish tiles are ( although ) beautiful but yet very venerable to aging, that’s why the projected life time is about 20 years. Many developments were built around 1998- 2000, and due to the extreme heat,strong winds the roof damage is a very common thing. That’s why we have insurance policies.
So the insurers would like to collect their fees, payout a claim is not part of their way of doing Business. Therefore they shut down when their claims are damaging their balance sheets.
This is the part where someone explains to the insurance company that is cheaper to pay for the repairs then it is to fight them in court because they refuse to pay for the repairs. Funny thing is my house had water intrusion from the roof only 3 years old 15 years ago and they would not cover any repairs related to the damage. If a national emergency isnt activated bringing fema to bail them out, they could care less. So all of the damage to the roof and to the interior of our home had to come out of our pocket. And it doesn’t do anything but keep getting worse as time goes on and every screwball politician we get does some kind of bullshit legislation that they weasel around and make it worse than it was to begin with.
Because if one wins - many wins. If they beat you in Court, the win several times over. MONEY MONEY MONEY.
@@thomaswisniewski5380 yeah apparently that's what they thought! 😂 By the sounds of it... That business model isn't panning out.
Did anyone explain to you that if insurance company gives everyone a free roof, then that gets built into the rates?
It would be cheaper to just take the money you would pay for home owners insurance and put it in an account and self insure.
Legislation won't let you.
This story is total crap. Lawsuits wouldn't get filed if claims were paid properly. The claim total multiplies immensely due to the suit. As a contractor I do not get the insurance company involved unless it is truly justified. I know there are many unscrupulous contractors out there that do and take advantage, but that does not make these companies go broke.
It does
@Roller Riders this is all part of a bigger picture that few see. What they say and what is actually happening are polar opposite.
Yeah, sure, we'll fix the insurance crises that affects every person in the state. Just let us finish the important work of banning books and fighting with Mickey Mouse.
Couldn't have said it better myself. Why would they even try to stop insurance corruption? Look who is one of the representatives of the state; the biggest medicaid crook of all, Rick Scott.
Agreed!!! Too busy not saying gay to worry about rent crisis, property insurance crisis
lol 😂 I agree
Yeah too busy making other people money and not saving their constituents money
Sorry groomers, but stay on the subject. At least try
The crash is coming. I cashed out my 180K house I sold for 800K last year in Florida. I moved to Arizona, much nicer here.
Wow!!! This is insane
Tell me how someone is suppose to pay for a new roof with costs keep going up...the same roof from 2006 is costing 30% more. Wtf..
I hardly had any claims after a category 5 hurricane. The next year they went $1000. Then the following year they dropped me! Guess why? Excessive gardening! Huh?! My coworker lost her insurrance because she got solar power!
The insurance companies did the same thing years ago. The only defense statewide is not let a company or any subs to be barred from state!
See what happens when they can't sell auto and life , sell stocks and bonds, own property. Kick them out of state!
very complicated problem.
I found it cheaper to pay out my self when I had a problem than pay insurance, about a quarter the cost
And just so you know it's not just homeowners insurance going up car insurance doubled this year too. Especially if you live in the three biggest counties in Florida.
They don't want to insure in a state where insane people live...
Water leaks happen, and when they do, it’s crucial to get ahead of them before they cause damage. It’s basic home maintenance, which is the responsibility of the homeowner. I’m surprised Homeowners insurance stepped in at all. Too, judging by the opened walls, the home’s construction looks really shoddy. If it’s significantly representative of the houses being insured in Florida, that alone puts them in a higher risk category (higher premiums). Between the roofing scandal, reliance on insurance for maintenance failures, poor construction, and high number of weather-related damage, it’s no wonder insurance companies are jacking up premiums, going under, and leaving the state.
I like how you can see both sides of the problem
Insurance is a scam that we are forced to use. I paid into Allstate for 30 years must have been $100k and they wouldn't fix a $16k roof. I was so mad I changed companies and lowered my payments. I would have gone another 30 years (another $100k) and they lost all that revenue. I dropped Allstate because of stupidity.
they didnt want to fix the roof or replace it. why would a whole roof need to be replaced ?
And lets not forget soaring property taxes
Insurance companies don't have to insure you.
Insurance is just a scam
I do wonder if people let a pipe leak knowing they will get a complete remodel.
There’s fraud is aspect of any business. In this case insurance companies should have some kind scheduled home inspection on all home owners.
@@johngrasso1483 my insurance wont pay for damage caused by a slow leak, any observant homeowner would have caught that. That is why I do walk throughs on my rentals once a year because tenants dont care if there is a slow leak under the dishwasher or kitchen sink, as they dont even pay the water.
@@Tony-hx2fj I've repaired many floors, ceilings, and wet sheetrocked walls paid for by insurance companies.
@@johngrasso1483 was it a slow leak over a long period, My State Farm insurance denied me when I a slow leak that a tenant did not tell me about. $40,000 in damage not covered. State Farm only covers leak damage from a sudden burst. This was 2018 in Santa Cruz County CA
@@johngrasso1483 I have State Farm insurance on my rented condos in Watsonville CA, a slow leak that a tenant did not inform me about caused 40K in damages, claim denied. fortunately I was able to fix myself, lost 2 months rent to repair.
WTF = Welcome To Florida
I love the gymnastics the media and the Florida government has to do to not say "climate change"! Florida may not believe in climate change, but the insurers do.
No they don’t.
@@ER-me1ii De-nile, it's not just a river in Africa.
@@billwhitis9997 The biggest banks in the world routinely lend money to fund construction and mortgage properties on the water. Are you smarter then them? Do they not have access to the same info you do? Now, since your boy Al Gore has been proven wrong with prediction after prediction, example being by 2013 there would be no ice on the North Pole, your point about insurers is not related to so called climate change. Millions of homes have been built close to the oceans. They’ve always been high risk from a weather event. The likelihood of catastrophe has increased. Btw weather has cycled since the beginning of time. It’s been warmer here several hundred years ago than today. Guess what happens when things warm up? Less people die of starvation and poverty. Climate change is actually “weather”. The mental gymnastics result from trying to foment a crisis from natural events. Not even getting into the ongoing efforts to influence weather. That might be too much for you.
The problem is Americans think insurance companies are there to help you when they are all for profit. Insurance does not lose money and if it did they would close shop. These people are all out for themselves
Carriers take your premiums and then pay sports hero’s to do commercials on the Super Bowl , but when a lady needs to make a claim, they blame contractors, who also pay outrageous insurance premiums. Let’s talk about that too….
7000 DOOOOOLLLAAARS!!!!!!!!!!!!!!!!!!!??????????? FOR INSURANCE!!!!!!!!!!!!!!!!!....LEAVE THE STATE NOW!!!!!!!!!!!!!!!
What are the best homeowners insurance companies to get a policy from?
Often you have no choice. Not like they are fighting for your business.
the piano is worth more than the rest of that pile of trash they call "the house".
10/17/22 There was a Special Session, it just didn't really make any progress and the Hurricane Ian hit.....just an update.
I paid for flood insurance for 30 years and homeowners as well. My home was classified as in a flood zone. My homeowners and flood was included in my mortgage payment. My payments kept rising and rising. One day we received a letter from FEMA stating we were no longer in a flood zone and didn't have to care flood insurance if we didn't want too. Ok so where did this flood zone come from and how did it go away after 30 years. My money was gone and I never thank God had 💦 in my house. These insurance companies were good in taking your money until you really need help then they do not want to pay for damages. Where did all my unused money go?? They used it to pay other people's claims and I got would of, could of and that was it. These companies run a ponsey scheme an we are the ones being taken advantage of. I had a waterman break and damage to my 🏠.My insurance company gave me 12,000 with a 3,600 deductible that I never agreed to accept. After taking the deductible away I was given 8,000 to repair 28,000 worth of damage. All the rest was out of pocket..Way to go!!! We are being bamboozled, and hoodwinked to the poor house and these politicians are just running off at the face while our lives and everything we have worked so hard are washed away. Had I keep my money and put it in my own emergency home fund for me I would have had way more then enough to repair my own damage.
I'm loving how Florida is showing everyone how NOT to run a state.
Bot account
That'd be california
@@thisismychannel607 no it's always been Florida. Texas is also I'm the running
@@jaysonoweh2227 Beep boop
Ya right. Go play with a cat, tweety.
one of the reasons rents are skyrocketing, to be proactive. how in the world didnt the lady notice a leak before it got to this mess. clueless?
This sounds like paradise
People think a palm tree equals paradise.
Pay off your house. Self insure. Problem solved. Get off the scam.
That is some sorry looking plumbing.
I'm not a plumber...but that looks horrible !
Florida... do I need to say anything more.
Follow the money and you’ll discover the root cause!
Frankly if they didn't force you to replace a 30 year roof every 10 years, then they wouldn't have so much roofing fraud.
My moms insurance jumped to $18,000. Times are tough everywhere.
Don't republicans believe the government should stay out of the free market? Don't they believe in capitalism to fix the problem?
We also believe in honesty. The insurance fraud needs to be stopped.
Did she say financial hardship....was that not your mansion we just seen ?!?
Sounds like you're just jealous.
I dont care how nice her home looks. She paid for her insurance coverage, and now shes screwed out of the help she paid for, and that's messed up.
@@degenerati yea but that doesn’t constitute a financial hardship.
@@osu33089 bullshit it doesnt. Let's take something you pay for and take it away unless you pay 65% more for it and then tell us it's not a financial hardship.
@@backalleyburrito1815 it doesn’t…pull money from your rich accounts and fix your damage. Stop whining to get press attention and pretend like a small home repair is a major set back in life. Bear in mind we are not debating the morality of the insurance company.
Stop letting companies write the laws.
GOP...We don't like to get involved...We don't like government interference!
"We need to act now before this becomes a catastrophe!"
Desantis: No, we need to focus on banning math books and teachers from saying "gay!"
Why are Trumpublican priorities always, always, always culture war bullsh!t?
If ignorance is bliss, you would be the definition of bliss. Stop paying attention to to libretard media. #FJB
Stop falling for red vs blue, the issue is average citizen vs elites/corporations. Don’t fall for divide & conquer.
You'll have to ask the cancel culture libtards
This is America.
Let's talk about how US taxpayers are still being made to subsidize home insurance in places like Florida, locations that will be repeatedly impacted by negative impacts of climate change.
I hope Desantis can take the money from denying woke Disney’s special status
and put out it toward lowering taxes to defray the insurance costs . Also he should find ways to crack down on insurance fraud.
Florida is not a safe bet for home insurance.
DS is absolutely lying! I could tell cuz his lips were moving!
If you have to ask how expensive it is to live in Florida you can't afford it.
Before it gets catastrophic?
Tennessee is looking better than Florida for retirement.
Repair (materials and labor) costs are way up so add to fraud and litigation costs as well as climate change events, all man-made and inflating at the same time.
SHUT THEM DOWN THAT SIMPLE
Desantis has had multiple chances to fix this issue but chose to ignore the insurance industry.
Don’t want it to become catastro
Just looks like the governor of Florida worried about the wrong thing. Insurance on my house in Texas is $1200 and that’s more because of the value of the house/supplies going up and snovid last year.
Or it might be because Florida has hurricanes every year. Coastal Florida, Nice place to visit not to live in.
this is the never ending division between rich and poor, how do you like it?
Too late
If Desatanis can afford to spend $650k to ILLEGALLY ship 48 legal immigrants to Massachusetts, he can afford to subsidise homeowners insurance. 🙄🙄🙄🙄🙄😪
Legislature fast to dissolve Disney status and remove math books but cannot get these insurance companies in check after litigating for some time.
Insurance is a scam.
Phk insurance companies. I will never have it on anything.
The lower middle class will feel the pain with this mostly. The others whom own have the money to pay . An extra even doubled insurance fee won't make them lose their home because the can pay it .
So the lower middle class are over. Only thing is I would not get too comfortable you higher class, they're probably coming for you next. Good stuff right?
Terrible work in the thumbnail
This is the type of person that would have $500k in 401k and 200k in home equity and pretend like she can’t afford a several thousand dollar repair.
EricSportsman she has insurance.
@@armchaireconomist8648 so do I……
@@osu33089 well when yours drops you when you need them most and you got to go to another company and make you pay 60% more I dont wanna hear you cry about it cause you deserve that shit. It doesnt matter how much money you think she has. I have a nice home, I make no money at all. I am broke, but I bet my home is way nicer than yours.
The insurance companies and the governor and CBS all on one side and that's normal folks on the other. Our government is supported to be protecting us from CEO price gouging.
@@RM-xf9gi this scenario is not much different than my 85 year old neighbor lady who owns 3 houses free and clear and has a $300k classic car sitting in the backyard pretending like she can’t cover her half of a 50 foot fence replacement. By law, she owns half of it but she claims that it’s my fence since the previous owner claimed it to be 100% his when he rebuilt it. Point is some people with a million in the bank cry financial hardship when it is no where near the case.
This whole damn mess is left over from Charlie Crist, who's trying to run for governor again.
Greed
FloriDuh
If you don't want insurance,sell your house. The fine legislators of Florida don't need this crap. The citizens never donate as much money to the gop. Businesses do. So stop your whining and sell your real estate to real estate investment businesses, they understand how America works. Tax the middle class! Business folk create jobs!
Don't let socialism into this country.
Good joke
You will get flooded again.Could be worse the next time.
How many bought overpriced houses in FL? 🙋♂️and now can't afford the insurance? 🤣
Welcome to Florida. Has been a raging dumpster fire for the last 25 years and not getting better anytime soon
The chickens came home to roost with this story
The abundant court routinely name because legal intraorally avoid unlike a feeble feigned grandson. glossy, abounding llama
Is that you, Kamala?