Prospective homeowners in Florida are being priced out, as owners must now grapple with a 100 percent rise in insurance costs since 2020. This comes as home prices and mortgage rates have been rising. Our NBC Orlando station WESH-2’s Sanika Dange has details.
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#NBCNews #Florida #Insurance
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Keep voting 🔴, keep banning 📚. 😂😂😂
It's hurricane season again. Guaranteed more companies will be leaving the state. Citizens is insolvent–they are insuring too many people.
If you are living paycheck to paycheck, do NOT have any kids.
A lot of it's probably the same problem as in California . You can only ensure so many guaranteed fire and hurricane losses a year before you're losing so much you can't operate … I'm as surprised to hear myself defending an insurance company as you are but facts are facts …. If I built my house in a hurricane zone and every year I had to rebuild it you could be forgiven for thinking I might be stupid …..
The price of the homes increasing 100-400 percent in 2 years due to record amounts of flippers and investors hoarding properties is by far the bigger and more concerning issue.
Florida gets what florida votes for. They voted in a government that lowered regulations. Then when thr companies that help pay millions into campaign funds says make it harder to sue us…thise elected offcials say ok. Plenty of room in other states that arent having insurance peice issues
Everywhere is either too dry or too wet. Floods in china. Fires in canada. The US with both.
People seem to only act when money is on the line. Oh well. Keep it coming, mother nature.
They sold their house without making their homework, how much it will be for them to get a new one 😂😂😂 what a brilliant move 😂😂
I made the same mistake. I make very good money but refuse to be ripped off by Florida real estate and insurance. Taxes are another problem. It’s not worth it. One more bad storm season and it’s over for Florida owners with a mortgage. You’ll loose the home.
Sigh….this administration has treated Americans like srcond class citizens. Sad.
Way over crowded. I wouldn't retire there! Kin folk said Jed move away from there 🤠
Be careful selling your house. You may not be able to buy another one.
I left Florida due to low wages, a mortgage loan officer is paid 15 to 17 an hour in South Florida. My base pay plus commissions in Northern Virginia is 36 an hour plus commission. Easy move. Plus, there are fewer HOAS up here.
The magical wand does exist. Stop all the BS fraudulent litigation. Every time after there is a little storm I receive numerous cold calls from roofer saying they can get me a new roof for free.
Fraud and Litigation. The only fraud is the insurance company and the late stage capitalism driving it.
This is greed at its best. The insurance companies don't want to cover people because they're going to actually have to pay out more claims than expected. Remember, they're not in the business of helping the people all at one time.
I'm about to move to Florida because its the GREATEST state in America with the GREATEST Governor in America by far
Fraud and litigation? Who’s committing the fraud? Insurance companies or the policy holders? Insurance companies are famous for wrongfully denying claims. Why the litigations? Could it be because the policy holder has to sue the insurance companies because they’re wrongfully denying the claim? This is classic poor, and one sided reporting. Let’s cover the complete story. Typical US for profit media. Low information, high emotions. Cover the complete story next time will yah!
Wait this has nothing to do with insurance with her. This is her own stupidity and greed that caused this. She sold her house 2 years ago. Which when housing market was at its peak, and now that they pocketed a lot of $$$ they’re complaining they can’t purchase a bigger home because the interest rate is high and blah blah blah?
She timed the market wrong and lost.
Who cares about being able to afford a home when you can be safe from drag queens?
I’m sorry to say but you may need to consider leaving that terrible state.
You wanna blame someone, I got some names…Morgan & Morgan, Farah & Farah, ect. The list goes on. The lawyers are driving the claims up, they take 25-40% of what you win btw.
Note: Buckle up because car insurance is next in this state. Auto Liability premiums are going to increase to pay for those lawyers fees after people sue over a fender bender.
It's the fraud. Even real estate prices going up here have a lot to do with Mtg Fraud. Mtg brokers are the worst, uneducated people pushing fraud daily. The state really need to crack down on fraud, we're basically #1 in the country for fraud.
Too poor or too stupid to move
Good don’t keep building in natural disasters prone areas . Wyoming is a great state .
Paying out insurance claims year after year due to hurricanes, tornados, and fires sounds like an unsustainable business model. Unfortunately uf they all start doing this, it'll probably lead to depopulation in some areas due to not being able to rebuild
Doesn’t matter if you don’t believe in climate change because your insurance company does. Which is why rates are going up and if they can’t increase rates to recoup costs they’ll simply stop issuing new policies.
I'm in Arizona. Last I checked, my insurance is around $80/month.
This was all predicted several years ago but of course human nature being what it is, nobody listens. The other thing is people just don’t seem to want to understand is that the horrible weather tragedies have just begun, it’s going to get worse and worse which is just going to exacerbate all of these problems to a near impossible state. Ask people why they move to Florida they generally say hot weather and no state income tax, yippee, look what you’re paying otherwise, And look at mother nature and what she’s doing to the state. Add to that uncontrollable growth, Significant increases in auto insurance due to uninsured and increased accidents per capita ,skyrocketing property values ( for now) Which results in enormous increases in property taxes, and low wages and it’s not all that wonderful of a state to dream about.
Global warming is real, with real consequences. 🥴
I think Florida has been grossly overbuilt considering it’s a sandy, swampy peninsula jutting out into the sea.
Good! People should move out of Florida!
Thanks Desantis, wow FL is becoming unlivable! 🙄 Maybe if Desanctimonious focused less on fighting with the mouse, spending tax payers money to kidnap immigrants, burning books a la world war 2 and attacking trans people because he’s probably jealous that he could NEVER… remember those knee high white boots? 💅🏾😬
(See what I did there? I’m you guys commenting on News that has nothing to do with my state and blaming everything on one elected official I don’t like, see how that’s just…😏?)
DeSantis is ruining Florida.
Florida is for the Rich & Wealthy & Tourist's , Any One Else Better Think Twice or Even 3 Times Before Moving To Florida.
Maybe the insurers should pay out and honor their policy contracts rather than the customers having to sue them…? 🤔
Gorgeous reporter.
Welcome to the reality of rising sea levels…. Thanks, oil companies.
DeSantis has done nothing about this. Florida is about as corrupt as Ukraine.
Votes come with consequences. If you end up homeless you voted for a governor who cares more about being president than the people of Florida.
Florida's home insurance crisis has nothing to do with the weather. Weather has been factored into the actuarial models for decades. The real cause not having enough safeguards in the regulations to prevent abuse.
Florida have its issue but this insurance want to increase it profit margins for their stock they should be band altogether on all type of policies. Its always conaumer who pays the price not politicians
They did you a favor wait another 6 months
Insurance is a scam. You pay into it and then they drop you when they have to pay out when something happens.