My Florida friends …
- Thread starter St. Louis Hawk
- Start date
I talked to my neighbor who is a broker that does auto. He said it largely depends where you live and what kind of vehicle you drive. They are raising premiums because hail has been catastrophic. Lots of totaled vehicles.
Seriously. Thieves even figured out there aren’t any cameras in the airport garages and lots. Imagine paying $40 a day to have your catalytic converter stolen.
Not surprising. The cops at DIA have been MIA the past few years. The ones out there were never the A team but now it’s rare to even see one.
That's ****ed.
Crazy story, my buddy, different guy, lives in Denver and had an suv stolen. They did a bunch of other robberies and the cops found the vehicle full of shit. He ended up with a bunch of shit including like 8 pounds of weed. ( but it was moldy by thr time he got it out of impound.)
Album — Postimages
(Some of the photos he sent me)
They’ve all been assigned to managing traffic flow at drop-off and pick-up points. I didn’t see one officer in the terminals themselves.
Even there they don’t manage it as tight as they used to. I’ve seen tons of unattended cars every time I’m there. Lines of people with their hazards on. Total mess.
I live 14 miles from the beach and thus far I’ve been lucky. Even so, the premium on my 2000 square foot two story house is right at $2,000 with a 4% deductible. I’m with State Farm who also carries my auto insurance so there’s a “bundle” element there.
I’ve thought for years that the State should never have allowed any more high rise condos or even single family homes to be built and certainly no trailer parks within five miles of the ocean. And insurance companies should have either charged real world rates or even put put a notice that no new structures would be insured, but of course they know that at the end they’ve made money for years because they’ve avoided huge losses in most years.
I managed two direct oceanfront condo communities and their premiums were high but in no way would they have covered total losses.
Average premiums were $250-275,000 per year with a very large deductible. We had damage at one that didn’t meet the deductible so the Association pulled out $112,000 to cover a new pool house roof and walkway.
In my experience watching politics over decades and government of both parties the lobbyists for the insurance, construction and mortgage industries have been able to have outsized influence. Local communities as well. They like the property tax revenue a $10 million dollar beachfront house generates. If you live in Tally you know lobbyists are VERY well paid.
The condo market is going through a big shakeup. Suddenly condos are flooding the resale market in places like Destin where there are price drops weekly. The reason is that monthly dues are hitting record highs to cover repairs that were deferred too long.
If you can afford up to $25K a year in dues you can now buy a 950 square foot two bedroom unit for $599K. Woo Hoo!
I’ve thought for years that the State should never have allowed any more high rise condos or even single family homes to be built and certainly no trailer parks within five miles of the ocean. And insurance companies should have either charged real world rates or even put put a notice that no new structures would be insured, but of course they know that at the end they’ve made money for years because they’ve avoided huge losses in most years.
I managed two direct oceanfront condo communities and their premiums were high but in no way would they have covered total losses.
Average premiums were $250-275,000 per year with a very large deductible. We had damage at one that didn’t meet the deductible so the Association pulled out $112,000 to cover a new pool house roof and walkway.
In my experience watching politics over decades and government of both parties the lobbyists for the insurance, construction and mortgage industries have been able to have outsized influence. Local communities as well. They like the property tax revenue a $10 million dollar beachfront house generates. If you live in Tally you know lobbyists are VERY well paid.
The condo market is going through a big shakeup. Suddenly condos are flooding the resale market in places like Destin where there are price drops weekly. The reason is that monthly dues are hitting record highs to cover repairs that were deferred too long.
If you can afford up to $25K a year in dues you can now buy a 950 square foot two bedroom unit for $599K. Woo Hoo!
If not the whole car then the catalytic converters which is becoming very common.
Does car insurance cover the replacement? Didn't know it was that expensive per the below tweet.
Yes, but you’re going to get hit with your deductible and they’ll fight you on using OEM parts.
Rhonda Santis has the power to use his fascist powers over the FL legislature and have them repeal their recent law.
If you buy a house prepare for you or the seller to be forced to replace an 8 year old roof to have the privilege of paying these exorbitant rates.
What's shocking is that dogboy is the only one to indirectly blame the libs. Seems like this might be the only problem that is acknowledged to exist that the board right wingers choose not to blame the libs or wokeism.
Much of those high rates is a direct result of this..
Who pays for insurance-based roofing hustle? Everyone in Florida | Opinion
On a daily basis, many people become victims of this hustle where the roofing solicitor “takes care of everything." All Floridians pay for it.
www.floridatoday.com
Which is a direct result of insurance companies forcing you to replace perfectly good roofs.Much of those high rates is a direct result of this..
Who pays for insurance-based roofing hustle? Everyone in Florida | Opinion
On a daily basis, many people become victims of this hustle where the roofing solicitor “takes care of everything." All Floridians pay for it.www.floridatoday.com
It’s been going on and building to this for DECADES through both D and R administrations.
Good for you but I’m from here and I know different. And FYI I mean premium on the entire condo association not individual units.
The total premiums on the Association property, wind, fire, exterior common area, liability , theft, D&O.
Owners decide whether or not to add their own interior unit contents or not. Those are not included. And that was coverage by Citizens aka the State.
I was going to say, that seems reasonable for a well built concrete building depending on size and window quality.
lol Okay. I’ll play since you’re obviously trolling.
I do not protect Trumpy boy. I am NOT a Trumpy.
I don’t protect Florida but I do explain things about our state to the hog and corn farmers on here. And indeed we have problems that have gone on for YEARS. Just giving a little historical background and perspective.
Frankly don’t care what you make of it.
That premium was back in 2017 my last year before I retired- and I would not be shocked to see it now in the $400K range. And the buildings were solid concrete.
Unless you count Charlie Crist, we haven’t had a D Governor this century.
Other than two cabinet members, democrats have been completely out of power in Florida for 25 years. But bOTh siDeS
And if you’ll give it some thought…challenging I know…a LOT of condos were built on the water that are 30-40 years old. Lots of homes as well.
And SoFla beachfront condos had a huge boom in the 80’s and 90’s.
The Governor doesn’t issue building permits.
Thanks, Captain Obvious. However, the Governor and legislature put in place a lot of rules that have to be followed by local building officials. Also, there have been a lot of buildings built in the last 20 years as well.
Several examples of FL GQP relaxing hurricane building standards in recent years. Nothing surprising, it’s BAU
South Florida’s Hurricane Building Code is Strong—And North Florida’s Could Be Stronger
Building codes vary widely across Florida, and the state has moved to weaken the connections to international code in its update process.
www.wunderground.com
Let’s step back and summarize, shall we? The idea that structures on the oceanfront or gulf front have been subject to heightened risks since day one. I think we both can bring to mind old family cottages built on beachfront everywhere up and down our coasts, from Fernandina and all around up to Navarre Beach. Some have stood here on the First Coast since the 1930’s.
Now, many of those were there when Claude Kirk became the first Republican since Reconstruction to hold the office of Governor.
Speaking of rules, for years there was one building code statewide and then there was the Dade County building code. Only in the last few decades was the code made uniform so that the sturdier Dade Code was made standard and statewide. Now all buildings have high impact windows and roofs built with “Hurricane clips”. Rebar enclosed with concrete and concrete block with poured concrete walls.
It’s not really a political thing unless you acknowledge how highly paid lobbyists have had the success with protecting their clients in the Legislature.
My premium went down slightly with Citizens, after my insurance carrier went bankrupt.
I live in a modest, hip-roofed, concrete block house about 30 miles inland. Maybe I was one of the few beneficiaries of Citizens adjusting premiums to more accurately reflect actual risk?
Or maybe a big premium increase is waiting for me after I finish the current term?
I live in a modest, hip-roofed, concrete block house about 30 miles inland. Maybe I was one of the few beneficiaries of Citizens adjusting premiums to more accurately reflect actual risk?
Or maybe a big premium increase is waiting for me after I finish the current term?
Executive compensation packages at Universal were extremely inflated for many years. Its former CEO, Sean Downes, received annual compensation packages that reached as high as $25 million (in 2015), totaled $107 million, and averaged $13.7 million during his time as CEO. Downes has continued to receive compensation in 2020 and 2021 in his role as executive chairman. Much of this compensation was paid in cash, including $17 million in salary and $38 million in non-equity compensation.
I’m impressed that you’re able to get the “carrier of last resort” 30 miles inland. But, I guess that is what we are moving towards…a government run insurance company going statewide.
