I bet 95% of the people who are surprised aren't FROM FLORIDA. I bet they are from the northeastern states....
USAA homeowners insurance in Florida
- Thread starter NormanBuntz
- Start date
I bet 95% of the people who are surprised aren't FROM FLORIDA. I bet they are from the northeastern states....
Approximately 20 years ago USAA threw a tantrum and decided to not renew polices in Florida due to some (then) new state rules. They would allow one policy per member in the state only. I had 4 rental units in a duplex (units A and B) and two small houses (units C and D) on one lot that were insured with them.
They told me they would be renewing Unit D only. I told them I preferred insurance on another unit. They said it was their choice and it would be D only. I informed the agent it was my choice and they were fired. Long silence. I don't think the agent expected that.
They told me they would be renewing Unit D only. I told them I preferred insurance on another unit. They said it was their choice and it would be D only. I informed the agent it was my choice and they were fired. Long silence. I don't think the agent expected that.
What about The Villages?
Wife and I spent a day there last autumn visiting. Very surreal place.
Back on topic................................
I feel for people who already live in Florida but let the insurance issue be known to anyone considering moving there.
I feel like we missed a bullet by not going there.
7 previous "A" rated Insurance companies went bankrupt in Florida since 2021 and I think roughly 20% or so stopped doing business in the state. People moving there should have to sign that they have been given notice about the problem there.
Florida is no longer "cheap" or cost effective to many, still maybe to northeasterners but nothing like the low cost reputation that still is in the minds of those up north.
Property taxes lower? Sure but not like they were. HOA and CCD fees make up for any lower property taxes. Then depending on what area of Florida, you may find your self paying insurance costs the same as all taxes, HOA and CCD fees combined.
Nothing wrong with the above as long as people realize they are responsible for their own decisions to move there. Do your homework and consider what you are willing to pay in the future for homeowners insurance if you are going to have it.
PS. I love the state of Florida and not knocking it. Its just the cost of living in a hurricane prone state is no ones fault/ except those who choose to move there and then complain.
I feel like we missed a bullet by not going there.
7 previous "A" rated Insurance companies went bankrupt in Florida since 2021 and I think roughly 20% or so stopped doing business in the state. People moving there should have to sign that they have been given notice about the problem there.
Florida is no longer "cheap" or cost effective to many, still maybe to northeasterners but nothing like the low cost reputation that still is in the minds of those up north.
Property taxes lower? Sure but not like they were. HOA and CCD fees make up for any lower property taxes. Then depending on what area of Florida, you may find your self paying insurance costs the same as all taxes, HOA and CCD fees combined.
Nothing wrong with the above as long as people realize they are responsible for their own decisions to move there. Do your homework and consider what you are willing to pay in the future for homeowners insurance if you are going to have it.
PS. I love the state of Florida and not knocking it. Its just the cost of living in a hurricane prone state is no ones fault/ except those who choose to move there and then complain.
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