Just wait until the incoming administration tries to privatize the entire Medicare system so it is completely run by private insurance companies. Imagine grandma getting old and needs treatment that keeps getting denied because the insurance companies know she is too frail to fight for her rights. And eventually she passes away without the insurance company paying anything. And if you live in some states, the insurance companies will have immunity from all sorts of lawsuits as long as what they are doing is not blatantly criminal. Good times ahead.
You hit it right on the spot with this comment: "You pay far more than you ever did and get far less in return" That's what happens when you overly privatize pivotal functions of government and gut regulations. I'm not saying government should be making computers or socks, so don't go there with the communism rhetoric.
What needs to be investigated is the lobbyists and the elected senators who voted the laws in to law,...for us all to have insurance, have that insurance, and then to fight us tooth and nail to NOT pay out when a claim is made,... Just sayin',...
The very people who vote for deregulation scream for investigations when corporations act to maximize profits in a deregulated environment. The insurance companies aren't breaking any laws. They exist to profit, not to save people from their own poor decisions.
Never believe a realtor. It's naive to imagine they ever have your best interests in mind. I still am in shock, watching houses being built here, in Cape Coral. One after another, after another, after another.
@ The truth of every nation. The jurisdiction of civilization determines the power, the rest, is just to make you feel loyal and comfortable, the good shepherd.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
When ‘Stacy Lynn Staples’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
@@jackwilson3121Not really wrong in a way... it's to protect the lender from losing the money they gave the buyer to purchase the house should the house be a total loss and there is an outstanding mortgage balance.
I had to hire independent adjuster to appraise damages on my roof after hurricane, because the real cost of the roof was $15k, and insurance offered me only $500. After adjuster, they paid my roof in full. Why I had to go through that?
The same as when paying taxes, etc. I go to the government office to pay some taxes, and they really do make it simple and quick and are polite. I go to get some compensation from the tax (pension, etc), and the process to get the money is long and tedious and the people are not so nice.
The promises are in writing and in the language of the policy. Either read your policy or only work with an agent that will take the time to go over the policy and answer any of your specific questions. Ask your agent specific questions about what it does cover like does it cover flood, etc. Also, ask about a specific type of hypothetical claim, like if I have to replace my roof for $50k how much would my deductible be and how much would the insurer pay. You have to ask specific questions, not just “what does it cover?”, if you just ask that they will tell you to read the policy or have you listen to them read it.
@@Shane46587Sure... that works.... that's why THOUSANDS of people have issues with insurance companies every year when it comes time to pay on a claim. They will find any excuse to minimize or deny your claim... and just wear you down with their delaying tactics. Insurance companies are in business to make money... on gambling that the premiums they charge will cover the potential losses they might have to pay out in claims. But unlike Vegas... when they end up on the wrong side of a bet gone wrong they will find a way not to pay you. We've already had several cases where insurance companies in Florida have modified and committed forgery in manipulating adjusters reports to lower the claim. Insurance companies are NOT your friend... and are not there for YOUR protection.
@Shane46587 even if you read it, they will try to weasel their way out of paying, and in most cases they will be successful in FL because thanks to the new laws its almost impossible to sue them now.
Oh you should also mention River floods, tornadoes, derechos, earthquakes, blizzards, forest fires, trees falling on houses, etc.😊. I'm sure I have forgotten some other natural disasters too. Let the worst your crates are based on the risks, for your state. All that said I agree that when pepper just made her house on a floodplain by any federal program they should not be able to get buns again for at least 20 years. Now I know a person who was flooded out three times and got huge amounts of government money each time before they finally gave up
Many individuals overpaid for homes, even during a period of low interest rates, leading to significant debt burdens. I anticipate a potential housing crisis, as these homeowners may face foreclosure if housing prices continue to decline and they are unable to meet their financial obligations. In such cases, with little to no equity, selling the property would likely not yield any profit. I believe this scenario could affect a large number of people, particularly given the looming mass layoffs and rapidly increasing cost of living.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You’re absolutely right! With guidance from an investment coach, I was able to diversify my 450K portfolio across different markets and grow it to over 830K in net profit through high dividend stocks, ETFs, and bonds..
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Jennafer Beaver Turner for about five years now, and her performance has been consistently impressive. She's quite known in her field, look-her up.
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
Spiteful and untruthful replies. The Amish are good, hard working folks, and without them Trump wouldn't have won Pennsylvania. That alone makes them good Americans in my book.
I'm so glad I bought in 2020. With the incredibly low interest rates, my mortgage is barely more than the rent I was paying. But now I own my home! I've upgraded the lighting, put in a home theater, added natural gas and a tankless water heater, etc. I have no desire to sell, probably ever.
@@ewicky That’s good, because the home will be worth a lot less in the near future, it may go as low as 50% as properties did in “hot” markets with the Great Recession, taking a decade or more to regain the 2020 level of value. So,depending on your down payment, the property’s mortgage will be underwater, which was the reason those that lost their jobs, due to the economic crash, were foreclosed on. They could not “short” the mortgages due to the derivatives (default insurance) on the backend of the portfolios. That’s how institutional finance investors roll.
@@vickijohnson9367 Thankfully, I bought before the peak, so I didn't pay as high as some others. I also have enough cash in savings to make 100 mortgage payments. So, not too worried. Best case, I use some of that cash to buy the dip and make out like a bandit. Worst case (job loss and can't find another) I'm secure in my primary residence.
I got booted from Citizens about 6 months ago and was forced to go with some unheard-of insurance company that I figured would go belly up if faced with a big loss due to a hurricane, but it sounds like Citizens is no picnic either. My insurance in FL costs me twice the amount as my primary residence in MA and my home in MA is valued at 4 times the one in FL. It also has a $1500 deductible while the one in FL has a $15K deductible. Since I don't have a mortgage on the house in FL, I'm seriously considering self-insuring and taking my chances.
Since 2011, I've owned my house outright and told my Farmers agent recently if they continue to raise my insurance renewal every 6 months that I intend to drop them. My December renewal didn't go up.
You should drop it anyway to get a lower rate 😮 when when they realize your aware you don’t need it you can get cheaper than what your paying. I’d def call around and try to find a cheaper rate with more or similar coverage.
Many people making ng claims are hoping to replace old roofs for free, don't meet their deductible, or don't fundamentally understand which perils are covered and should not have made a claim in the first place
No what he is probably saying is that people did not understand what perils are covered under their signed contractual agreement with the insurance company. You have to understand in this age their is too much information to properly apply it to every fact of life and most people do not keep up on certain things. Know your covered perils and not covered perils, has to be unexpected and sudden plus above your deductible. Pretty much 3 hoops to jump through. @alexnew4975
Yeah. When their agent was trying to explain the coverage people typically don’t listen, won’t answer the agents call because they don’t want to be “sold” something or they move to another agent that sucks but has a much lower premium and doesn’t explain anything.
As you explain the insurance situation during your walk-about, it all becomes crystal clear: the insurance companies (especially the specific one you're talking about) are using every underhanded trick in the book to weasel out of paying legitimate insurance claims that are rightly due to customers who paid an exorbitant premium for their coverage. This is sleazy, unethical behavior that is rampant throughout corporate America in practically every industry today. Outrageously awful behavior is being displayed not only in this insurance situation, but in escalating layoffs, a horrible job market, a broken and demeaning recruitment process, and overall terrible treatment of employees, such as Amazon's heavy-handed diktak to return to office 5 days a week. America, why are you like this? Why is the default to treat people terribly rather than decently? This has been getting steadily worse over time for years. An enterprising law firm should consider organizing a class-action lawsuit on behalf of FL homeowners against the insurance company that is blatantly not paying out legit claims. An Erin Brokovich-style law firm should relish this challenge and take it on.
business owner in Oregon had business burglarized, the insurance company denied his claim, stating that it didn't cover burglarized, IT ONLY COVERS NATURAL DISASTERS, UH WELL HERE IN OREGON WE DON'T HAVE NATURAL DISASTERS!!!! WTF
I may be mistaken, but someone (who lives in Florida - I do not) told me that one reason for the high rate of denials is that Citizens does not write flood insurance, but if you have flood insurance elsewhere you need to show that your primary insurer is not covering you to get your claim processes. The goal supposedly being to prevent fraud (double dipping). So even though you know that Citizens will deny the claim, you need to go through the process.
Strangest reason we ever dropped anybody was that the neighbor had a tree that was too tall so we dropped our client who lived next-door even though that tree never had a branch that went over his property line
I was curious so did a quick calculation. Say a household in the top 15% - 20% could find a $1M home in one of those neighborhoods ... had the 20% down, their payment with a conservative amount for taxes and insurance would be $7200/month. And after payroll deductions that would leave them $3300/month for living expenses which are all going up at an insane rate! In reality, you either have to have millions in cash, or be in the top say 5% of households to even consider those Miami neighborhoods. So, who are all these people building those new mansions you walk by, homes, those multi-million dollar condos, etc? Something is way out of balance!
Imagine being an insurance company in Florida. Over the last few years there have been a stretch of bad hurricanes knocking down million dollar houses that were worth 250k a few years ago!
I'm surprised how poorly people understand insurance. I was talking with someone at work about the cost of roofing, and she said "Yeah our roof is about done, we'll need to file an insurance claim." I tried to explain that insurance doesn't simply buy a new roof for you because your old one is shot. Some of these types of claims may be part of the denial rate.
They'll just say you need to sue them, not to mention the judge is in their pocket also. It's not just Florida this is happening, but their new business model.
Love the videos! The house under construction at 16:44 is listed on Zillow for $8,950,000. Some people out there are not feeling any pain from inflation, the insurance mess, hurricanes, etc. Is there a middle class anymore?
Only takes one house in the neighborhood to accept a lower offer to bring down the equity of those who purchased in the last few years. Potentially putting them underwater on thier mortgage.
That's why I am self insured I did it before when prices went to high and I will not play their games in La. We not responsible if anyone gets hurt on your property, I am 58 had a place since I was 24 never used it so go figure
That’s not what’s really going on? I’m in the insurance industry in Florida and yes, we are denying 80% of the claims to come in but 80% of those people didn’t have flood insurance and we have to deny them so that FEMA can help them without us denying them, they can’t proceed with FEMA
It's worse than that. If you make a claim but the amount is lower than your deductible, the claim will still negatively impact your future premium increase.
I'm talking about health insurance here. I have many older employees. They are being destroyed by the medical system. A system that we are all paying dearly for. I have a wild idea. I'm going to stop paying a premium simply to live. If I need help, it will be a crap shoot anyway. I'm leaving up to God, saving my money, and reducing my stress. Going bare.
Can't blame you. Living on the edge. I did it for yrs without healthcare. I am an emergency nurse that serves illegal migrants that receive free healthcare. Make it make sense.
If they haven't already, homeowners must organize themselves together and fight back these insurance companies. And pressure their elected local government officials to stop what these insurance companies are doing. Insurance legislation on the local level needs to be changed or something to prevent homeowners from being denied legitimate claims. There's power in numbers.
Well, Dimitri, every search for a hero must begin with something every hero needs, a villain. So in a search for our hero, Bellerophon, we have created a more effective monster: Insurance Company
I could never understand that if you live in an area that is damaged by weather would you not have a policy that covered that. These people seem to not know what their policies cover and then get disgusted when their claims are not fulfilled
Where are the state regulators? How hard is it to know how many claims as a % of business are denied? It doesn't make sense that a company should deny more than 20% of claims.
Yes and our car insurance is through the roof. And I've called several companies same rates barely less than what I pay! Auto insurance in Florida is a rip off. Forced to carry same coverage on all cars more than we need on each car!
As you can see more is built like there is no tomorrow and people are buying those houses ! You should walk Naples or West Palm Beach, nothing slows down in those towns !
I currently have Citizens insurance after having insurance for years thru a regular insurance company. I was non renewed because of the insurance company said they were over exposure to hurricanes. Getting insurance thru Citizens was more than double the old insurance and Citizens would only insure us for 25 percent of value of the house with all kinds of deductibles. Why even have insurance under these terms. We dropped the wind insurance last year and just went with liability and some basic coverage thru Citizens. The liability and basic coverage without wind insurance was 10 percent of the cost with wind coverage. We are located in Wesley Chapel Florida
MB you left Cali just in time. The storms have hit the sf bayarea specifically the north bay it’s worse than I’ve ever seen it. Rick slides, major flooded roads, trees crashing into roofs of homes, surgeries getting cancelled due to massive pier outages, cars getting stranded in water. Bet the insurance companies won’t cover the flood damage that’s happening per usual. It’s supposed to rain through the thanksgiving holiday. The wind and rain ain’t no joke. Florida ain’t right with those foul insurance companies.
It would allow home owners with enough equity in their property to self insure if they so choose. The banks covered in most cases because the value of the land is worth more than what most people have left owed to the bank. Even if the house blows away the small amount left owed to the bank if borrower can’t pay is covered by the land value alone. Average mortgage balance in Florida is under $200,000. Houses in south Florida sell for $500,000+ in most places. Bank can sell for land value and recoup the remaining balance easily in a worst case scenario. Insurance rates in Florida average $10,000 in most major coastal cities and rising. It’s legal extortion at this point because the banks can take your home away if you don’t have it. Better off self investing that amount every year into a hys and you’ll be first in line for a roof when you need one because you don’t have to wait on insurance to pay out.
Today, KIN insurance in Florida informed me flood insurance increases $4,000 from $425. They said it's because the insurance for the insurance company is the reason. Flood insurance is not required for me in 32168. I'm not purchasing it. KIN is calling me next week to go over other options.
Well yeah most hurrican damage is done by flooding today with modern builds and roofs... which many dont carry flood insurance here. Dont like it? Buy your house in cash or dont buy. Florida is a massive insurance risk. Imagine how much it would be if it included flooding (which is actually partially subsidized by the fed I believe)
My guess is that some families need a place to live regardless, whether rent or buy. Some chose to buy over rent, even when living under very tight budget.
HA, I bought my house in April, 2020 (lived in Florida since 1990) just when Covid hit...a few months after I bought my house at 3.6% interest, the market value went up 100K, I got hit with a 1K increase on my property taxes!!!! Why, the northerners came down and were paying thousands over asking price for homes here. Thanks a lot dummy's!!!!
Good Evening Michael, I don't see any reason why this is such a great time to buy... Well there are just so many 2 percenters out there that can afford to buy a home. I am in that bracket and refuse to sell because I am not going to pay those crazy new tax assesments. Average work folks incomes simply cannot afford it. That's the cold reality why inventory in growing and sales are approaching a standstill. Keep up the great work!
Insurance companies are not charities, they are there to make money. Since it is the lender that benefits from the mortgage insurance the lender should pay for it.
They are throwing it on the wall to see what sticks with the prices. The only problem is that the number of buyers with crazy money has gone down because they already bought a house. They have a insane idea that everyone is a millionaire.
Retailers IN PANIC MODE AS 1000s of STORES CLOSE! th-cam.com/video/F_1NmLCwSgs/w-d-xo.html
That is so awful Michael 🤨
Just wait until the incoming administration tries to privatize the entire Medicare system so it is completely run by private insurance companies. Imagine grandma getting old and needs treatment that keeps getting denied because the insurance companies know she is too frail to fight for her rights. And eventually she passes away without the insurance company paying anything. And if you live in some states, the insurance companies will have immunity from all sorts of lawsuits as long as what they are doing is not blatantly criminal.
Good times ahead.
You hit it right on the spot with this comment: "You pay far more than you ever did and get far less in return"
That's what happens when you overly privatize pivotal functions of government and gut regulations. I'm not saying government should be making computers or socks, so don't go there with the communism rhetoric.
"Pay more and get less!' What a sad reality!
Homeowners insurance is such a scam.
People buying houses in flood zones, near the ocean or in hurricane zones is a scam too.
All insurance is a scam. There's no assurance in insurance
funny
Try getting a mortgage without homeowner's insurance.
I don't understand why banks are financing homes that they know will be denied Insurance in the near future
Insurance companies needs to be investigated
What needs to be investigated is the lobbyists and the elected senators who voted the laws in to law,...for us all to have insurance, have that insurance, and then to fight us tooth and nail to NOT pay out when a claim is made,...
Just sayin',...
Those false claims also does as well. Both parties are a problem. Same types
By who? The same people wanting to steal your property? 😆 😂 You will own nothing and be a bankers biotch.
Word is that you are the one who's going to be investigated.
The very people who vote for deregulation scream for investigations when corporations act to maximize profits in a deregulated environment. The insurance companies aren't breaking any laws. They exist to profit, not to save people from their own poor decisions.
make your video's longer please. we love you talk and the tone of your voice is incredible soothing for your channel fans!!!
Dont make your videos longer.. they will lose their punch and get boring.. Wake up Dopey Mussi
You just summed up the homeowners insurance business. Paying too much for way too little!
Or nothing at all in most cases
Plus Mandatory!
Michael, please interview home owners around the Orlando area and ask them about their insurance problems
Delta dental is the same now in that they don't pay claims.
Had Delta Dental for over 20 years, all of a sudden their premiums jumped 25% for 2025 - switched to BCBS Dental.
@@s99614 lol, dental insurance is such a waste
They’ve paid all my claims
@@s99614 why waste your money on dental insurance. Probably the most worthless insurance in to have.
They blocked me out of my account
Realtors that say time to buy is now. Dont believe it!
It is for them they starving and I still do not see how we do not have a housing crash especially in Florida. So record prices ya win win for realtors
Of course it is...realtors. Most have their eyes wide open.
Never believe a realtor. It's naive to imagine they ever have your best interests in mind. I still am in shock, watching houses being built here, in Cape Coral. One after another, after another, after another.
everything just seems like a scam any more
Capitalism requires the owners of capital to charge low wages and high prices. This is our system.
Any More?.... lol.. you mean.... Now lol
Insurance = legalized extortion.
@@dyates6380 I'm seeing that more and more clearly now, at least with homeowners insurance anyways.
As I always say, "Homeowner insurance gives you a hand when you pay your premiums, but gives you the finger when you make a legitimate claim."😂😂😂
You are indeed wise.
😂😂🤣True
They better not get mad then when someone searches em out. 😮🎉
The government mandates insurance because they’re the actual home owner. Not you
That is Fact!
I imagine insurance has a deep state incentive. While we work. Insurance is lobbying to enslave Americans quarter by quarter. Year by year.
They also own the property because you have to pay property tax on their land your whole life.
@@5150Rockstar yep, you're not free in the US. Real property rights don't exist in that country
@ The truth of every nation. The jurisdiction of civilization determines the power, the rest, is just to make you feel loyal and comfortable, the good shepherd.
The consumer is unprotected from corporate greed.
Always excellent and articulate narrative delivery.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
When ‘Stacy Lynn Staples’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Insurance only protect the lender, not you. That is why it is a requirement to have insurance if you have a mortgage.
You do not know much about homeowner insurance.
@@jackwilson3121Not really wrong in a way... it's to protect the lender from losing the money they gave the buyer to purchase the house should the house be a total loss and there is an outstanding mortgage balance.
I had to hire independent adjuster to appraise damages on my roof after hurricane, because the real cost of the roof was $15k, and insurance offered me only $500. After adjuster, they paid my roof in full. Why I had to go through that?
Bc it's in their best interest to not pay.
The same as when paying taxes, etc. I go to the government office to pay some taxes, and they really do make it simple and quick and are polite. I go to get some compensation from the tax (pension, etc), and the process to get the money is long and tedious and the people are not so nice.
The insurance business model it simple... make promises... collect premiums... deny claims. Always has been.
"Insuring" that you won't get helped when you need it. 😂 what a racket.
The promises are in writing and in the language of the policy. Either read your policy or only work with an agent that will take the time to go over the policy and answer any of your specific questions. Ask your agent specific questions about what it does cover like does it cover flood, etc. Also, ask about a specific type of hypothetical claim, like if I have to replace my roof for $50k how much would my deductible be and how much would the insurer pay. You have to ask specific questions, not just “what does it cover?”, if you just ask that they will tell you to read the policy or have you listen to them read it.
@@Shane46587Sure... that works.... that's why THOUSANDS of people have issues with insurance companies every year when it comes time to pay on a claim. They will find any excuse to minimize or deny your claim... and just wear you down with their delaying tactics.
Insurance companies are in business to make money... on gambling that the premiums they charge will cover the potential losses they might have to pay out in claims. But unlike Vegas... when they end up on the wrong side of a bet gone wrong they will find a way not to pay you.
We've already had several cases where insurance companies in Florida have modified and committed forgery in manipulating adjusters reports to lower the claim.
Insurance companies are NOT your friend... and are not there for YOUR protection.
@Shane46587 even if you read it, they will try to weasel their way out of paying, and in most cases they will be successful in FL because thanks to the new laws its almost impossible to sue them now.
I'm tired of paying more for insurance to bail out people living in a state that is a hurricane magnet and flood plain...
Wait until your house burns down, it can happen anywhere.
Oh you should also mention River floods, tornadoes, derechos, earthquakes, blizzards, forest fires, trees falling on houses, etc.😊.
I'm sure I have forgotten some other natural disasters too.
Let the worst your crates are based on the risks, for your state.
All that said I agree that when pepper just made her house on a floodplain by any federal program they should not be able to get buns again for at least 20 years.
Now I know a person who was flooded out three times and got huge amounts of government money each time before they finally gave up
They should evacuate the entire state and give it back to the gators and manatees.
Many individuals overpaid for homes, even during a period of low interest rates, leading to significant debt burdens. I anticipate a potential housing crisis, as these homeowners may face foreclosure if housing prices continue to decline and they are unable to meet their financial obligations. In such cases, with little to no equity, selling the property would likely not yield any profit. I believe this scenario could affect a large number of people, particularly given the looming mass layoffs and rapidly increasing cost of living.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You’re absolutely right! With guidance from an investment coach, I was able to diversify my 450K portfolio across different markets and grow it to over 830K in net profit through high dividend stocks, ETFs, and bonds..
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
Certainly, there are a handful of experts in the field.
I've experimented with a few over the past years, but I've stuck with Jennafer Beaver Turner for about five years now, and her performance has been consistently impressive. She's quite known in her field, look-her up.
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
I am Amish and I don't believe in insurance..😊
Or paying taxes
Or defending the country you live so freely in.
Or the internet, electricity, toilet paper, or not marrying your first cousin. LOL
Spiteful and untruthful replies. The Amish are good, hard working folks, and without them Trump wouldn't have won Pennsylvania. That alone makes them good Americans in my book.
@@jimstrickland8653Agree and grateful!!
I'm so glad I bought in 2020. With the incredibly low interest rates, my mortgage is barely more than the rent I was paying. But now I own my home! I've upgraded the lighting, put in a home theater, added natural gas and a tankless water heater, etc. I have no desire to sell, probably ever.
@@ewicky That’s good, because the home will be worth a lot less in the near future, it may go as low as 50% as properties did in “hot” markets with the Great Recession, taking a decade or more to regain the 2020 level of value. So,depending on your down payment, the property’s mortgage will be underwater, which was the reason those that lost their jobs, due to the economic crash, were foreclosed on. They could not “short” the mortgages due to the derivatives (default insurance) on the backend of the portfolios. That’s how institutional finance investors roll.
@@vickijohnson9367 Thankfully, I bought before the peak, so I didn't pay as high as some others. I also have enough cash in savings to make 100 mortgage payments. So, not too worried. Best case, I use some of that cash to buy the dip and make out like a bandit. Worst case (job loss and can't find another) I'm secure in my primary residence.
I got booted from Citizens about 6 months ago and was forced to go with some unheard-of insurance company that I figured would go belly up if faced with a big loss due to a hurricane, but it sounds like Citizens is no picnic either. My insurance in FL costs me twice the amount as my primary residence in MA and my home in MA is valued at 4 times the one in FL. It also has a $1500 deductible while the one in FL has a $15K deductible. Since I don't have a mortgage on the house in FL, I'm seriously considering self-insuring and taking my chances.
If your home is not economically feasible to insure, then who is going to buy it from you?
Since 2011, I've owned my house outright and told my Farmers agent recently if they continue to raise my insurance renewal every 6 months that I intend to drop them. My December renewal didn't go up.
I canceled mine in October after Owning it free and clear since 2013 🎊
You should drop it anyway to get a lower rate 😮 when when they realize your aware you don’t need it you can get cheaper than what your paying. I’d def call around and try to find a cheaper rate with more or similar coverage.
Thank you for the information you share daily
Many people making ng claims are hoping to replace old roofs for free, don't meet their deductible, or don't fundamentally understand which perils are covered and should not have made a claim in the first place
are u calling Floridians stupid and or scammers?
I totally agree!!😊
Not true
No what he is probably saying is that people did not understand what perils are covered under their signed contractual agreement with the insurance company. You have to understand in this age their is too much information to properly apply it to every fact of life and most people do not keep up on certain things. Know your covered perils and not covered perils, has to be unexpected and sudden plus above your deductible. Pretty much 3 hoops to jump through. @alexnew4975
Yeah. When their agent was trying to explain the coverage people typically don’t listen, won’t answer the agents call because they don’t want to be “sold” something or they move to another agent that sucks but has a much lower premium and doesn’t explain anything.
We appreciate your insight Michael!
As you explain the insurance situation during your walk-about, it all becomes crystal clear: the insurance companies (especially the specific one you're talking about) are using every underhanded trick in the book to weasel out of paying legitimate insurance claims that are rightly due to customers who paid an exorbitant premium for their coverage.
This is sleazy, unethical behavior that is rampant throughout corporate America in practically every industry today.
Outrageously awful behavior is being displayed not only in this insurance situation, but in escalating layoffs, a horrible job market, a broken and demeaning recruitment process, and overall terrible treatment of employees, such as Amazon's heavy-handed diktak to return to office 5 days a week.
America, why are you like this? Why is the default to treat people terribly rather than decently? This has been getting steadily worse over time for years.
An enterprising law firm should consider organizing a class-action lawsuit on behalf of FL homeowners against the insurance company that is blatantly not paying out legit claims. An Erin Brokovich-style law firm should relish this challenge and take it on.
WE AGREE 👍 🤝 💯 🙌 👏 👌 😊HALLELUJAH TO THAT 🎉
Actually have to show up for work five days a week. Oh the humanity.
Insurance companies will not be investigated. They control both parties.
Insurance companies give them big donations to look the other way.
@ricnyc2759 yep, classic racket between big government and the private sector. Alot of that i scratch your back and you scratch mine type of thing.
I think Florida will be only rich people that can afford to own a house without insurance. I heard that here first and I agree with this
There are always trailer parks where you can pick up a 1970's home cheap, and pay rent on the land.
business owner in Oregon had business burglarized, the insurance company denied his claim, stating that it didn't cover burglarized, IT ONLY COVERS NATURAL DISASTERS, UH WELL HERE IN OREGON WE DON'T HAVE NATURAL DISASTERS!!!!
WTF
Just an FYI. If your house is elevated, getting coverage is not a problem. Raise the house, and you can get insurance.
What about when you are 65 and you can't climb the steps anymore?
@@geocam2go to the gym
@@SkywalkerPMs lol. But it's not the simple. Aging sucks.
Siri, what is an elevator?
You can put one in for less than the cost of a roof.
@@justin423 I have seen several in Florida homes. Some people cannot carry groceries up from the base floor garage to a second or thrid floor kitchen.
Its all a scam. The mortgage issuer should be responsible for the insurance and not mortgage holder.
Agree
I may be mistaken, but someone (who lives in Florida - I do not) told me that one reason for the high rate of denials is that Citizens does not write flood insurance, but if you have flood insurance elsewhere you need to show that your primary insurer is not covering you to get your claim processes. The goal supposedly being to prevent fraud (double dipping). So even though you know that Citizens will deny the claim, you need to go through the process.
My home is paid off but i keep paying my homeowners insurance just in case of a peril......i do not like paying it cause its way overpriced....
So self insure.
It not worth the risk,if something happened,I'm stuck with high insurance...@@eltiburon5240
Just buy silver and gold with the money, at least you have something to show for your money
Strangest reason we ever dropped anybody was that the neighbor had a tree that was too tall so we dropped our client who lived next-door even though that tree never had a branch that went over his property line
The insurance commissioner should resign. DeSantis needs to do something about it too. Audit their book and investigate!
It sounds like there’s something screwy in st Louie with insurance companies
What is going to happen in Florida?
So at what point does this become government sponsored racketeering? What’s the cut off? This is getting insane.
CLASS ACT LAWSUIT!!! Florida folks get screwed all the time....e-mail Ron DeSantis.
Don't buy now..
Every other ad on TV and Internet is for insurance scam artists.
I was curious so did a quick calculation. Say a household in the top 15% - 20% could find a $1M home in one of those neighborhoods ... had the 20% down, their payment with a conservative amount for taxes and insurance would be $7200/month. And after payroll deductions that would leave them $3300/month for living expenses which are all going up at an insane rate! In reality, you either have to have millions in cash, or be in the top say 5% of households to even consider those Miami neighborhoods. So, who are all these people building those new mansions you walk by, homes, those multi-million dollar condos, etc? Something is way out of balance!
Imagine being an insurance company in Florida. Over the last few years there have been a stretch of bad hurricanes knocking down million dollar houses that were worth 250k a few years ago!
The rent is too damn high!
Correct. Rents are out of control.
This comment appears like that dude doing the robot on the Chappelle’s Show. It always appears like clock work.
I'm surprised how poorly people understand insurance. I was talking with someone at work about the cost of roofing, and she said "Yeah our roof is about done, we'll need to file an insurance claim." I tried to explain that insurance doesn't simply buy a new roof for you because your old one is shot. Some of these types of claims may be part of the denial rate.
They'll just say you need to sue them, not to mention the judge is in their pocket also.
It's not just Florida this is happening, but their new business model.
The insurance Ponzi like the dolla Ponzi, ponzis everywhere
Love the videos! The house under construction at 16:44 is listed on Zillow for $8,950,000. Some people out there are not feeling any pain from inflation, the insurance mess, hurricanes, etc. Is there a middle class anymore?
No
Only takes one house in the neighborhood to accept a lower offer to bring down the equity of those who purchased in the last few years.
Potentially putting them underwater on thier mortgage.
The state of FL isn't compensating its citizens through its unemployment portal either. Storm victims and layoffs are rampant. Shameful.
That's why I am self insured I did it before when prices went to high and I will not play their games in La. We not responsible if anyone gets hurt on your property, I am 58 had a place since I was 24 never used it so go figure
Just curious . What is your yearly self insurance premium ? Thanks .
@bobbya51 it is what they can't still from me what you can't use
@terrybroussard8373 can you clarify your statement?
Your summer vacation went fast.
That’s not what’s really going on? I’m in the insurance industry in Florida and yes, we are denying 80% of the claims to come in but 80% of those people didn’t have flood insurance and we have to deny them so that FEMA can help them without us denying them, they can’t proceed with FEMA
Insurance companies, need insurance too.
It's worse than that. If you make a claim but the amount is lower than your deductible, the claim will still negatively impact your future premium increase.
I'm talking about health insurance here. I have many older employees. They are being destroyed by the medical system. A system that we are all paying dearly for.
I have a wild idea. I'm going to stop paying a premium simply to live. If I need help, it will be a crap shoot anyway. I'm leaving up to God, saving my money, and reducing my stress. Going bare.
Can't blame you. Living on the edge. I did it for yrs without healthcare. I am an emergency nurse that serves illegal migrants that receive free healthcare. Make it make sense.
If they haven't already, homeowners must organize themselves together and fight back these insurance companies. And pressure their elected local government officials to stop what these insurance companies are doing. Insurance legislation on the local level needs to be changed or something to prevent homeowners from being denied legitimate claims. There's power in numbers.
Insurance companies give your elected officials a big donation. As long as they are lining their pockets, they don't care about the homeowners.
Well, Dimitri, every search for a hero must begin with something every hero needs, a villain. So in a search for our hero, Bellerophon, we have created a more effective monster: Insurance Company
I could never understand that if you live in an area that is damaged by weather would you not have a policy that covered that. These people seem to not know what their policies cover and then get disgusted when their claims are not fulfilled
They want to almost triple their money in 5 years? F them, hope they lose it!!
Get the seller to pay closing costs, and points. Points are tax deductible. You can buy your rate down, and get a tax deduction at closing.
Where are the state regulators? How hard is it to know how many claims as a % of business are denied? It doesn't make sense that a company should deny more than 20% of claims.
Just paid my $2,800 premium for a 1950s house
that's pretty good, 1960 1100sqft was $5k last year right before we sold, flood was $2700
I canceled my $2747 policy in October🎉
😂😂😂😂😂😂😂
Premiums are based on current repair and rebuild costs. Not what the house costed back in the day.
@@alexnew4975😵💫
No banks would lend without insurance. Business 101
Bad enough that my homeowners went up, so did my HOA. 😢
Yes and our car insurance is through the roof. And I've called several companies same rates barely less than what I pay! Auto insurance in Florida is a rip off. Forced to carry same coverage on all cars more than we need on each car!
As you can see more is built like there is no tomorrow and people are buying those houses ! You should walk Naples or West Palm Beach, nothing slows down in those towns !
I currently have Citizens insurance after having insurance for years thru a regular insurance company. I was non renewed because of the insurance company said they were over exposure to hurricanes. Getting insurance thru Citizens was more than double the old insurance and Citizens would only insure us for 25 percent of value of the house with all kinds of deductibles. Why even have insurance under these terms. We dropped the wind insurance last year and just went with liability and some basic coverage thru Citizens. The liability and basic coverage without wind insurance was 10 percent of the cost with wind coverage. We are located in Wesley Chapel Florida
That is criminal. It is extortion!
You can’t get a loan anyway, nor would you want to with the current situation
Realtors association. They always say it's the best time to buy.
Yup. Yet some of us have brain matter
In other words homeowners insurance companies hired people who used to work at an aftermarket auto warranty company.
A denied claim is enough to make them
cancel your policy. Insurance should be optional mortgage or not
With no real insurance and living where there is hurricanes unless you have money why would anyone buy in Florida
make the lenders negotiate and pay the insurance in order to give the loans
MB you left Cali just in time. The storms have hit the sf bayarea specifically the north bay it’s worse than I’ve ever seen it. Rick slides, major flooded roads, trees crashing into roofs of homes, surgeries getting cancelled due to massive pier outages, cars getting stranded in water. Bet the insurance companies won’t cover the flood damage that’s happening per usual. It’s supposed to rain through the thanksgiving holiday. The wind and rain ain’t no joke.
Florida ain’t right with those foul insurance companies.
It would allow home owners with enough equity in their property to self insure if they so choose. The banks covered in most cases because the value of the land is worth more than what most people have left owed to the bank. Even if the house blows away the small amount left owed to the bank if borrower can’t pay is covered by the land value alone. Average mortgage balance in Florida is under $200,000. Houses in south Florida sell for $500,000+ in most places. Bank can sell for land value and recoup the remaining balance easily in a worst case scenario. Insurance rates in Florida average $10,000 in most major coastal cities and rising. It’s legal extortion at this point because the banks can take your home away if you don’t have it. Better off self investing that amount every year into a hys and you’ll be first in line for a roof when you need one because you don’t have to wait on insurance to pay out.
Today, KIN insurance in Florida informed me flood insurance increases $4,000 from $425. They said it's because the insurance for the insurance company is the reason.
Flood insurance is not required for me in 32168. I'm not purchasing it.
KIN is calling me next week to go over other options.
Good luck! Highway robbery.
Well yeah most hurrican damage is done by flooding today with modern builds and roofs... which many dont carry flood insurance here. Dont like it? Buy your house in cash or dont buy. Florida is a massive insurance risk. Imagine how much it would be if it included flooding (which is actually partially subsidized by the fed I believe)
Money makes the world go round
Has anybody been approved of a home loan? Answer is no and this message will be deleted
80% house price increase - 20% wage increase you tell me whos buying lmao
My guess is that some families need a place to live regardless, whether rent or buy. Some chose to buy over rent, even when living under very tight budget.
HA, I bought my house in April, 2020 (lived in Florida since 1990) just when Covid hit...a few months after I bought my house at 3.6% interest, the market value went up 100K, I got hit with a 1K increase on my property taxes!!!! Why, the northerners came down and were paying thousands over asking price for homes here. Thanks a lot dummy's!!!!
Insurance versus coverage? Lenders will likely require proof of actual coverage instead of just a policy.
It’s really a scam homeowner, car, health
Well, Insurance is not in the business to pay claims.
INSURANCE COMPANIES, COOK THE BOOKS AND THEIR POLICIES IN THEIR FAVOR WAKE UP.
Good Evening Michael, I don't see any reason why this is such a great time to buy... Well there are just so many 2 percenters out there that can afford to buy a home. I am in that bracket and refuse to sell because I am not going to pay those crazy new tax assesments. Average work folks incomes simply cannot afford it. That's the cold reality why inventory in growing and sales are approaching a standstill. Keep up the great work!
Home values will continue to decline for years to come.
!!!and make the lenders negotiate and pay the property tax in order to give the loans, its their property until paid off
thats called rent to own
@@hirosesethat's essentially what you are doing when you have a mortgage.
We need a national vote to see who still believe in the American Dream? I’m sure it’s a few suckers left.
You get insurance to satisfy your bank.
Insurance companies are not charities, they are there to make money. Since it is the lender that benefits from the mortgage insurance the lender should pay for it.
Can Floridians still sue homeowners insurance companies for bad faith?
Not anymore
What are the green hoses coming out of the ground near sidewalk?
I’m waiting. I’ll pay cash and forgo property insurance. I’ll make sure that I’m not in a flood zone
Great video! 👍🏼👍🏼
They sure do have beautiful houses that are sitting empty..
They are throwing it on the wall to see what sticks with the prices. The only problem is that the number of buyers with crazy money has gone down because they already bought a house. They have a insane idea that everyone is a millionaire.