High cost of Homeowners Insurance in Florida
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11/30/2013
I am a life time resident of Florida except for my time in the U.S. Army. I am a disabled veteran and a homeowner in Central Florida. I bought my home 5 years ago and this year I got the shock of my life. My homeowners insurance sent me my renewal notice. My insurance went up to over 100% increase. I thought I was going to have a heart attack, I called the right away and asked what's up with the increase. The agent said well your home is getting older, I said yea it 1 year older from last year but that's no excuse for the high increase. No, I don't live in a $200.000 home. It a modest 2 bed 2 bath on 2 and 1/2 acres in the county. The homeowners insurance in Florida is pricing a lot of people out of their homes. I called the Florida State Insurance Commission to find out what up with the insurance in Florida. They looked up my company and said they were given permission from the state to increase all homeowners insurance 9.4% increase. Then they State Insurance Commission said some county's were granted 20 to 25% increase. As I said I bought my home 5 years ago and I have never had a claim on my insurance, nor can I find any permits pulled to repair the home from the 2006 hurricanes that hit Florida or my county of Osceola Florida. I do know the shingles were replaced about 8 or 9 years ago. The homeowners are not saying their is something wrong with my place other it getting older. Yes the home is 20 years old but it is in excellent shape. I have done a lot of work in up grades, I have gone through this every year or two and being 65 disabled, I can't keep going on this this. The homeowners insurance is pricing me out of my home. I have decided to walk on my home. The increase takes effect January 11 2014, I can pay a small increase in the insurance which will raise my house payment to high for me. I had 2 family members move out of Florida to Georgia, so I'll go buy a small place in Georgia and walk out of my Florida home. I have known a lot of other family's in Florida pace up and leave to Georgia. My sister and her husband and family up their and when I went to visit them I found out there are a lot of Floridians that moved to Georgia. The moral of this story is don't buy a home in Florida unless your wealthy!
Tracy-Ann | Saint Cloud, FL