Insurance in Florida

By
Real Estate Agent with Orlando Area Real Estate Services

So now Nationwide - apparently not on our side anymore - wants a 71.4% increase in premiums in Florida. The average increase in Orlando will be 50%+. State Farm wants 70% so they are apparently not a good neighbor either.

Let's have a history lesson. Prior to the Summer of 2004 - and more on that in a moment - there had not been a Hurricane in the Orlando area for 40 years since Hurricane Donna struck in the 1960s.

In other words Nationwide, along with other insurance companies (for they are not alone when it comes to this) seemed perfectly capable of collecting premiums for 40 YEARS when they didn't have to pay anything out. Now after one bad season (2004) and one minor season in Orlando (2005) they feel the need to increase rates by this incredibly dramatic amount.

And what can we do? Nothing is the simple answer. We pay up and shut up because their increase in premiums will be approved and we either have to accept that or go uninsured.

Someone please explain to me what exactly happened to those 40 years of premiums they collected without payout and I will gladly pay my increase. Just makes me sick frankly...

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
insurance

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the magnifying-glass to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the printer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
135,156
Bonnie Cox
RE/MAX Masters - Denver, CO

I have a dad living in Orlando--in a mobile home of all things.  Is there any way of getting him insured.  Right now he is totally uninsured.  It is a real nightmare for we kids living out of state.

Thanks,

Bonnie COx

Jul 11, 2006 11:47 AM #1
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the sunglasses to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
404,265

Simon Conway

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the flag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information