Florida couple saves $100,000 after deciding to 'go bare' by not purchasing wind and flood coverage

[@gcc8584]

A lot of people don’t realize they are going bare with insurance anyway. Insurance companies are professionals at not paying coverage.

[@Mnil52]

If a storm levels south Florida the companies will just declare bankruptcy anyway

[@wolfumz]

At least if you're self insured, you can be confident you'll pay. Why the insurance oligopoly today, it really is a toss up if they'll pay. Can't rely on them for anything, and they charge these exorbitant rates. Freaking worms.

[@kimpeater1]

There are people who get compensated very well whose sole job is to find ways to deny claims.

[@Tinystrom]

My parents place got some damage from a hurricane (nothing too major some water got into the walls etc) and the insurance refused to cover it saying it was “wind driven rain damage” and that they were covered for rain and wind but not wind driven rain.

[@gcc8584]

Total scam. I’m sorry to hear your parents had to go through that.

[@haroldlanni8702]

My house went through a direct hit by Ian. There was significant damage to my roof and the insurance company offered $1700 to repair it. Had to hire an attorney to fight them and came to a settlement the day before it was to go to trial. This took over a year to reach this point. I never had a claim in over 40 years of home ownership. I’m sure they will drop me at renewal. Going bare seems to be the way to go.

[@davidanderson8469]

I'm with AAA here and they are cancelling policies left and right for people on canyons regardless of whether they cleared their lots. My agent said the company goes by the last year even if you've never made a claim in 30 yrs. Ours is $499 for a small crackerbox house worth $700K+. It must be a mistake.

[@TheGristonNarcissism-my4hj]

I had the same issue with an air con electrical burnout due to lightning strike. The insurer I was insured with for 30 years tried to put me through a whole deal over it & I was stuck in 190F heat with no air con so now I 'go bare' with electrical burnout. I save that money to just easily replace the item immediately myself. Best insurance decision I have made as I haven't had it happen since then anyway.

[@KevinDick-h6f]

Logic is an over rate thing. Practicality simple , gathering the rights verses the wrong priceless . Especially that to an industry of customer commodities goods and service , Insurance Companies are organized crime syndicates that are not regulated . They can literally get away with murder .

[@Catherine.Dorian.]

Yeah insurance is like this hit or miss thing. My family has this $7 a month plan from public service and we never had to use it but recently, of course in the frigid chill, the heat kept dying and they’ve now come and fixed it five times for free. It’s great if you need it and the company isn’t a jerk but otherwise it feels like a scam

[@ekop1778]

YOUR ATTORNEY WOULD OF COSTED MORE THAN YOUR HOME REPAIRS

[@mnek742]

"It's the second best decision I've ever made." That was so SWEET

[@johngreg12]

He is a simp of the highest order!

[@leotimtom6637]

The first best decision was never getting married.

[@michaeladam3190]

@@leotimtom6637 they are from the time where you dont get divorced. Today people get divorced over bs arguments. NO loyalty anymore.

[@sageninja7260]

@@michaeladam3190a time where they don’t get divorced? Lmao yeah true cuz the woman was getting abused by there husbands but the husband was making all the money so they stayed, people these days just don’t wanna tolerate bs no more

[@michaeladam3190]

@@sageninja7260 dude shut up. You are talking about one offs. Majority of families were normal. You come on here talking about a small fraction of women that went through that bs and act like it was the whole country.

[@Theendofeverything7036]

The key action was them SAVING that $7000 every year and NOT TOUCHING THAT MONEY!!

[@BrianK-zz4fk]

bingo, i try to tell people when they pay their car payments off to continue paying yourself that amount for a new car or repairs.

[@hlee-w9u]

with today's interest rates they could collect $500/month in interest off of that 100k. 500/month is all of their utility bills paid every month.

[@modelcitizen1977]

​@@hlee-w9uI'm not sure your math is correct.

[@mhxxd4]

7000 aint shit if your house gets damaged

[@LHSHarmon]

​@@modelcitizen1977Na he's right. My Discover Savings account is at 4.5% and I've heard of some accounts being around 5% APY. That would be a 450+ a month on 100k

[@chrislj2890]

"It is the second best decision I've made" ... while glancing at wife. A very wise man, lol.

[@jdub7775]

This is the comment I was looking for! Wise indeed!

[@nancycosta2448]

⁠@@listenupfoolioAre you a beauty? Really?

[@chrislj2890]

@@listenupfoolio That is an uncalled for comment.

[@itzamia]

My A.D.D. would've done the talking and I would've paid for it. "Hell yeah this is best decision I have ever made, you know how much money we're saving?!" Don't think before you speak impulse reaction.

[@mattbosley3531]

@@listenupfoolio And you think you're gonna look gorgeous in your seventies? Or eighties? He loves his wife. The person, not the appearance.

[@edmardt]

Very smart move, for people who actually own their homes and who can afford to do this

[@neilkurzman4907]

You do understand who can afford to do. This means you’re gambling that you’re not going to have a major claim. At which point you would have to sell your vacant land for whatever you could get.

[@chodkowski01]

Mortgages don’t last forever. They usually get paid off.

[@jerrymunroe5593]

​@@chodkowski01I think at my age I will certainly be dead by then

[@kenbob1071]

The smarter move would be to get the hell out of Florida.

[@RM360CR]

@@neilkurzman4907 or you can rebuilt better with reinforced steel structure with cement block and like the STORY said einstein THE LAND IS WHAT IS REALLY WORTH THE PROPERLY specilly in the usa with such poorly built home.

[@queensburyio4773]

I need to see the post Helene follow-up piece. I MUST SEE IT.

[@seriejohnson698]

Someone above said that area got devastated during Helene. Their friend lost their home.

[@racheli2598]

Yeah but at least they saved all the money over the years for repairs.

[@joeschmo622]

If you make a claim, your rates go up. If you don't make a claim, your rates go up. Many exclusions make a payout difficult to impossible for anything remotely "not covered". You "save money" by raising deductibles to obscene levels, further discouraging making a claim for a lesser amount. I get a better deal from casinos.

[@DemPilafian]

Why would you make a small claim? Insurance should be used exclusively for catastrophic damage. Insurance is a safety net not an investment.

[@s0nnyburnett]

@@DemPilafian insurance is a scam wake up dude

[@margaritoamargo6347]

@@s0nnyburnett I do agree but Florida is prone to natural disasters. Its expensive to cover all these claims. Not a great place to live.

[@DemPilafian]

@@s0nnyburnett One day you'll be an adult and learn the need for responsibility and insurance. When that day arrives, I recommend you choose the highest deductible possible. It's the best value because insurance companies know those customers are the least likely to submit fraudulent claims.

[@neilkurzman4907]

You are at a casino. Without your gambling, you’re not going to have a major claim. With insurance you’re trying to mitigate your loss if you do have one. Odds are you won’t because that’s how insurance works. When everybody’s filing a claim, then you insurance hast to go up, there’s no magic pile of money it’s all your premiums and everybody else’s.

[@lolwtnick4362]

listening to an insurance company guy on insurance is like taking advice from the mafia on paying protection money.

[@djjohnson5013]

😲😜🤣🤣🤣🤣🤣

[@remyschrader9286]

It’s not “advice”

[@jhgolf25]

"Listening to a doctor guy about a medical issue is like asking the mafia to lower your cholesterol"

[@kpdvw]

But with the Cosa Nostra you actually get what you pay for.....!

[@Kr0nicDragon]

The mafia would be more trustworthy then any insurance company

[@LuckyJordan45]

It’s not being without insurance, it’s called being “self - insured”

[@Delightfullydee7]

This is honestly one of my financial goals

[@DailyStalkerUpdate]

Self-insured is uninsured.

[@LuckyJordan45]

@@DailyStalkerUpdate “self-insured” is when you have enough money to cover a complete loss of the home without a big stress. Do you insure your clothes?

[@DailyStalkerUpdate]

@@LuckyJordan45 Self-insured is when you deposit money or post bond with a government agency to cover a potential loss to somebody else due to a potential liability. What YOU'RE calling "self-insured" is actually uninsured. No, I don't insure my clothes. What does that have to do with anything.

[@LuckyJordan45]

@@DailyStalkerUpdate thanks for the explanation. I didn’t consider that it was a legal term with a different meaning than what I originally thought

[@KennedyVerbruggen]

The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy, or not?

[@jorgeHudson-h4h]

Stocks with yields that outperform the market should be on your radar, as should shares that at least lag the market over the long term. But if you want a long-term strategy that works, I advise you to consult a broker or financial advisor.

[@firefighter-i6q]

Soon, cheap homes won't be cheap anymore because prices today will look like dips tomorrow. I think inflation will cause panic until the Fed tightens its grip even more. You can't just pull the band-aid Off half way. Booms and busts are the ups and downs of the economy, and they will affect any investments. If you are at a crossroads or need honest advice on the best steps to take right now, it is best to get counsel from a financial expert.

[@PremSteve-yg4de]

How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?

[@firefighter-i6q]

Her name is REBECCA NASSAR DUNNE . Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@BateserJoanne]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@ATClouse]

The insurance company making a case for him to continue being paid is the funniest part of this video, screw the bloated insurance system

[@neilkurzman4907]

It’s funny everybody says screw the insurance industry until they want to file a claim. The law in Florida was screw the insurance industry. So they left. Be careful what you wish for.

[@clash8386]

They r all scams

[@TEverettReynolds]

@@neilkurzman4907 > The law in Florida was screw the insurance industry What law? the one that said they needed to pay out for hurricane damages? Thats not screwing the *National* company that offers insurance.

[@motophone8794]

You would think a news company would at least go through the effort of finding a more objective "weigh-in."

[@meoff7602]

Well then screw Florida the next there is a hurricane. Figure it out. Your all so smart.

[@131Basher]

We could not buy into the Florida insurance scam, went bare 5 years ago. We could replace our roof every 4 years with the money we save on artificially hiked rates.

[@TheBOG3]

We went bare in 2004 here in the Tampa area. It’ll be 20 years this June. No problems.

[@john_mccarthy_hi]

certain construction techniques are far superior to preventing catastrophic damage. for instance techniques of nailing down walls to the foundation. EXAMPLES: **Water-Resistant Barriers**: - Hydrophobic coatings on exterior walls - Water-resistant membranes under roof shingles and around windows and doors - **Advanced Fastening Systems**: - Hurricane straps and clips with higher load-bearing capacity - Threaded rod ties running from roof to foundation - **Impact-Resistant Films**: - Window films to reduce shattering - **Enhanced Roof Designs**: - Construct hip roofs instead of gable roofs - Strengthen roof edges with metal flashing - **Flood Proofing**: - Install flood vents in foundation walls - Elevate electrical systems and outlets above flood levels - **Exterior Reinforcements**: - Install DIY storm shutters using plywood or metal sheets - Reinforce garage doors with additional bracing or install more robust doors

[@collin9085]

@@john_mccarthy_hi Most of this is part of the building code.

[@Happybidr]

@@collin9085 But that only helps with new builds, not existing homes.

[@TheScrubmuffin69]

​@john_mccarthy_hi wow all that shit just to live in Florida with a batshit insane governor who is in bed with the insurance companies and is the reason insurance is so expensive. I don't do a single one of those things in Ohio, I just go to work and when I come home my house is perfectly fine.

[@jenniferbethparishwhite688]

Insurance is such a scam. They're happy to take your money, but when it comes time to pay, they decide to pull out and take off.

[@jimmyhartman573]

INSURANCE IS A GOVMNT PERMITTED PONZI SCHEME AS LONG AS THEY GET A CUT !

[@THX..1138]

Yeah actually many people don't realize this, but much of the money in those hurricane relief packages congress passes after every storm actually goes to cover the insurance companies losses, not to help home owners. So you pay for your insurance they collect and pay themselves with your premiums, then after the storm hits they get the money they pay you from the government.

[@Dysiode]

If you didn't pay and your house washed away the savings wouldn't pay for a new house. Just because nothing bad happened to you doesn't mean they took your money. You exchanged your money to be made whole IF something happened during the period you paid for. Would you feel better if you lost all your belongings in a fire and were able to file a claim for insurance before they pulled out?

[@kazedcat]

​@@DysiodeDid you not hear the homeowner if the damage is caused by hurricane the insurance will only pay him $5000 try rebuilding with that kind of pay out.

[@joshjordan1486]

​@@DysiodeI already saved more than it would cost to rebuild in just a few years.. but go on scammer.

[@Unpreeeedictable]

Looks like we need a follow up interview to see how things went post Helene.

[@BulletproofPastor]

Seeing first hand how insurance companies handled hurricane Harvey damage on the Texas Gulf Coast, even those with Texas Windstorm Insurance were abandoned and even those settlements paid were far below repair costs. New homes and major repairs were from private assistance groups.

[@solido888]

@@BulletproofPastor So why live in a place that has hurricanes?

[@BulletproofPastor]

@@solido888 We lived in the Texas Gulf Coast for 20 years and only had light damage from one hurricane (Harvey.) Hurricanes only present a narrow destruction path and being 20 miles away from the landfall makes a huge difference. Today, we live near Texarkana with multiple tornado warnings throughout the summer months. That said, our farm was built in the 40's and has never been touched by storm damage. News media sensationalizes close up views of every "tragedy."

[@Catchyalater_Fishing_Co]

@@solido888 because we have the freedom to live where we want to live

[@solido888]

@@Catchyalater_Fishing_Co so you want to get shit on by hurricanes? 😂

[@JM9868]

Self insured is becoming less risky than dealing with the insurance companies.

[@yourdadsotherfamily3530]

I know, right! If legally, we are required to hold the policy to own the property, then they must legally pay us if a claim is made within their policy signed. I literally see no use in saving up or spending $500 a month to burn for insurance when again they will do everything possible to limit the amount you can claim they will call you at 4 AM after you had an accident at 2 AM in the morning, knowing that you were concussed just to try to get you to admit something so they can lower your claim, even though the only reason you would say something as such as probably because you’re concussed right after an accident.

[@thebookofcurtis]

absolutely.

[@husky3g]

100% less risky. Insurance companies will find every way possible not to pay out. Just save any cash you'd be paying them and just save it like the couple in the video. It may not be as much as an insurance payout or it may be significantly more.

[@headcode]

Especially when companies look for every excuse to deny or reduce a claim

[@donaldkasper8346]

They just won't pay, then vomit up lowball settlement offers, then you get a lawyer and spend years in court.

[@Leo-fk9ch]

Here in Northern California, due to the fires, my homeowner policy went from $2200 a year in 2016 to over $11,000 in 2020. My home is paid for, sits on 15 acres of well groomed land and I have cleared a substantial fire break around my home and outlying structures. In addition, I brought in two 20,000 water tanks with a 20hp gas pump and 1000’ of 3” fire hoses to fight back any perimeter fire if the case presented itself. Considering all of this work to safeguard my home, the insurance companies wouldn’t budge one dime on the premium. So, I self insured the entire property. I only carry liability insurance and minimal coverage for fire and theft. My premium is $1500 a year. I have done essentially what this couple has done, I take roughly $10,000 a year into a separate account for home losses. My CPA advises that any money I spend out of pocket to cover property loss is tax deductible, a bonus. I’ve accumulated $40,000+ so far and in short time that’ll grow into a fund well financed to cover most losses, as improbable as they might be given all of my safeguards. All of the work I’ve done adds to the property value which makes it a win win all around. Insurance companies do not lose money, just glance at their financials. Allstate insurance cried about the woes of fire losses, yet they post record profits and their reserve fund is higher today than ever before. Taking advice from an insurance company is like having a cigarette smoking oncologist advise you on the benefits of smoking. He makes money, you get crap advice and you empty your pockets.

[@mosimosi630]

You are a smart person

[@rdelrosso1973]

@Leo: I'd say you are doing GREAT, compared to my friend in LA, who saw her Fire Insurance increase 100%, from $16,000 a year in 2017, to $32,000 a year in 2018. (I guess her home is pretty expensive) She has a lot of trees of all kinds around her home, and pays someone to hose them down twice a week. Last time I checked, she was paying $45,000 a year for Fire Insurance, in 2021. Yes, you are doing OK. But what happens if and when you go to SELL your home? When the potential Buyer tries to get Fire Insurance, and cannot, will he still want to buy the house? Maybe the Buyer has a special "Fund" with $100,000 in it, so he does not need Insurance. Maybe the Buyer will pay ALL CASH, and so there would be no need to go to a Mortgage Bank, and have them require Fire Insurance, before granting a Mortgage. Or Maybe not.. . . . As Climate Change (and its subset, Global Warming) increases, and continues to go mainly unmitigated, these are the kinds of things we will increasingly need to face

[@tclanjtopsom4846]

I live in Australia and we have many bushfire, even the best prepared people lose their homes regularly. I wish you luck mate. Bushfires are very unforgiving.

[@Eb-or]

If fire breaks are the answer, does that give a home owner the legal ammunition to go after adjacent land owners who allow combustible vegetation to grow unbroken?@@tclanjtopsom4846

[@andrewbrowning-gm7nd]

Too much work buddy, easier to move

[@billwesolowski2609]

We've been doing this exact thing since 2011. Ian caused $35000 worth of damage, we paid it all in cash didn't need to wait for insurance money and have over $40K left and growing by $10K each year again. Our biggest fear is the dreaded multiple hurricanes in a year scenario. We know our risks and we are willing to gamble at our age rather than handing over $10K per year to an insurance company that will just give you nothing but hassles when you try to put in a claim.

[@kramsemaj7869]

Besides if you use up the savings on the first hurricane, you can always go back to traditional insurance until u stabilize.

[@minerran]

most people don't have $35K laying around like you.

[@VelveteenRabbit77]

That actually happened to my sister in law double hit and something about having to oay 2 deductibles since it was 2 different claims. Bunch of crooks! We dont have that kind of cash but ours is at $2800 now but we are super afraid of the future!! Every year the “ insurance shuffle”!! We just got 2 letters from Citizens. We are super afraid of no insurance. Major repairs are one thing but being caved in and destroyed we cant risk being homeless. We are super scared.

[@Starry2000]

@@minerran If you own a home you have at least, AT LEAST, 35K sitting in the bank at any time. Nobody is buying a house with every penny that they have that is moronic.

[@mirozen_]

Is it possible to "hurricane proof" your home? I've always thought that if I ever moved to Florida I'd like something that would be difficult for a hurricane to damage! (We don't have hurricanes in the Pacific Northwest - though an earthquake or volcano is a possibility every century or two! 🙂)

[@eggs4lifer]

Need to do a refresh on this story post hurricane Helen.

[@user-jm3uu3ky3l]

And post hurricane Milton.

[@UncleDavesKitchen]

@@user-jm3uu3ky3l Yes, are these two bragging about their informed decision to go bare in Tampa Bay still happy with their decision?

[@BarryWoodward-kg7rw]

😮😮😮😮😮

[@peterrao1]

Insurance companies are crooks and they need to be held more accountable with more transparency of loss ratios and premiums.

[@Konanan]

Same applies to "health insurance" companies. We need to cut out the middle-man

[@neilkurzman4907]

Do you understand that with the insurance company loses too much money they close their doors and stop offering the product. Florida did several things that increased the payout from insurance companies while limiting premiums. The biggest insurer in Florida right now is the state of Florida. They are also losing money.

[@Alumnikiid]

@@KonananYup, get the cheapest and Max out Health savings account. Specially if one is young

[@jdos5643]

It’s all scams and money grab

[@neilkurzman4907]

@@jdos5643 Then, always make sure you have a little insurance as you possibly can have. And see how that works out for you. Mathematically, the odds are in your favor.

[@xtbum3339]

The insurance guy wants homeowners to keep paying continuously rising insurance rates? Go figure.

[@darkgreen9098]

Tell it like it is! 😆

[@jet4415]

He’s so independent!!!! 🤔

[@Chutney1luv]

Exactly!! 💯

[@easilyscan]

I was shocked........lol

[@usualsuspectsfor1k]

It's s despicable profession, filled with deplorable people. 3 years ago I had a problem with my agent and called People's trust to work with them directly. The rate they told me my agent should've been charging was 40% of what I was paying. I clarified that didn't include the agent's fee and she said "NO, that INCLUDES your agent's fee". At the time, I had a mortgage and couldn't forego insurance and my agent knew it. She added 60% ON TOP of the rate I was supposed to pay. I called her out on it and after some unpleasant words from both sides I decided to pay off my mortgage and find another agent that wasn't a thief. But it's exceedingly difficult to find an honest insurance agent in Florida.

[@yashikouture]

When he said that was the second best decision he made, then look at his wife. Aww💕

[@meak13]

Let's see where they are 10yrs from now

[@leftylou6070]

He was talking about his girlfriend next door.

[@clambroth1923]

I was looking at those teeth. Yaaaaah. Lot of money can also saved by dealing with those things over one's lifetime

[@Superfatcat2525]

@@meak13they would have another $70K saved to add to their $100K already saved. I’ve paid Homeowners insurance for 40 years. I had 1 claim and they dropped me. These people figured it out.

[@kutter_ttl6786]

​@@meak13They'll still be together.

[@myway148]

Wonder what the update might be after this last storm Helene ?

[@rfugy]

That is a wonderful man, when he said it’s the second best decision he has ever made. Made me smile.

[@Chris-717]

Yeah, that was pretty cool.

[@ipromisethatserendipityisa9656]

+1000 wife points there. Smart man. 😁

[@user-pc3xb4hd8i]

He got some that night.

[@madelainepetrin1430]

He's smart in more ways than one!❤

[@deborahblackvideoediting8697]

That was a sweet moment!

[@Stevezors]

Should be titled, older generation finds out insurance is a scam

[@davidmann2524]

Insurance isn't a scam. Margins in insurance is near zero, they make money on their investments.

[@Stevezors]

@@davidmann2524 investors making money has nothing to do with the fact that a service is being charged for while rarely being rendered to the consumer thus making it a scam. Insurance companies put a lot of effort into underpaying market value whenever possible to insure profit

[@john_mccarthy_hi]

@@davidmann2524 inaccurate comment by a mile. if you're thinking of health insurance returning excess premiums think again. they find ways to increase their admin costs as to 'game the system'. that's why i keep getting paper bills after going paperless.

[@davidmann2524]

@@john_mccarthy_hi oh I wasn't talking about US healthcare, thats an absolute scam. I actually made a lot of money on the business tech side in sales in a job that shouldn't even exist under a universal care system. The convo is about property and car insurance here though.

[@Tugela60]

​@Emma_madison No, he just told you what the margins are and how insurance companies make money. Insurance is a long way from being the most profitable business sector. The property insurance business sector has a net margin of 5%, which is quite modest compared to most business sectors. Insurance rates are high because of huge claims.

[@riggs20]

This is brilliant as long as you are disciplined enough to save the money needed for possible repairs.

[@gariott8681]

⁠you are wrong and very negative… You WILL BE THE SUCKER THAT KEEPS PAYING THEM OVER $7k a YEAR! Plus the $20k deductible and they love you for it. 🐑

[@riggs20]

@johnSmith-uz8nl Depends on the size of your house. Theirs isn’t very big. Plus you’ve got the $20,000 deductible to meet if you file a claim. Also keep in mind that the company will dump you once they’ve paid out the claim. No argument that it’s risky to go without insurance. But what this couple is doing is a valid option if you are disciplined enough to save money monthly and understand the risks involved.

[@bombomos]

​@johnSmith-uz8nlif you have reenforced trusses and upgraded windows you can narrow down all that to repair the roof

[@owenb8636]

It really depends when the next hurricane hits and how much damage it does. They could have decided to do this and the next year they had 7k to repair a whole house. It is absolutely a risk and they got lucky

[@riggs20]

@johnSmith-uz8nl I hope not! I last did my roof in 2005 and am not looking forward to having to replace it soon! 😟

[@mattblack133]

How did they make out after hurricane Helene????

[@kraftzion]

The insurance company wants us ti replace the shingles on our house before they will reisssue the policy. The shingles have a 30 year guarantee and are 12 years old. So we don't have coverage. Paid insurance since we built the house in 1979. Insurance is the biggest scam industry in the world in my opinion. Avoid it at all costs.

[@bobperry6450]

Legalized Ponzi scheme! Then they don't go by structure costs for replacement they charge you full assessment for your property, what a scam!!

[@Helmuesi911]

Florida itself is a scam

[@realdata8624]

Our shingles are from 2004, we had the same situation. I had five companies review it and they all said I have at least five years left.

[@KentDaGangsta]

Yup it’s such a scam until someone gets injured on your property and you don’t have liability insurance 😂😂😂 you and everyone else are such Morons

[@victorhopper6774]

tried that with me and i have a steel roof. called my agent and he laughed and said its the new drone police. i still have my 95 year old roof.

[@moe9246]

Insurance companies are going to shoot themselves in the foot. It’s disgusting what they charge. Then they had the nerve to take money in premiums from people for years, and just pull out of Florida, leaving customers of twenty or more years with no coverage. What other business could take your money for years and years, give you absolutely nothing in return, and then up and leave the state, claiming bankruptcy? It’s down right fraudulent.

[@ContactsNfilters]

I'm so ready for this! They won't be the first companies to go out of business.

[@mulemule]

People with insurance weren't covered for those years before insurers fled the state? (Or did folks get what they paid for?)

[@MarianTRitch]

If everyone stood up and say no, insurance companies would back down! Problem: hurricane season every year!

[@stevezelaznik5872]

The insurance companies are the canary in the coal mine for global warming. We ignore what they’re telling us at our own peril. They’re telling us that Florida is no longer inhabitable. Whatever home you build will be destroyed every 5 years.

[@GentlemensCage]

Blame are your greedy neighbors and contractors

[@aquicktake]

can you imagine that - paying an insurance company for 14 years with no claims?? basically you handed them $100K free and clear for absolutely nothing and no returns whatsoever.

[@ploppill34]

You don’t seem to understand how insurance works😂😂😂😂

[@trapbois4573]

@@ploppill34the point is that when there is damage and the time comes to put a claim, insurance companies are aware Florida experiences frequent storms and so they take a long time to dish out payments purposely to make money.

[@thomaspick4123]

Leave Florida to the Jews.

[@meismeLHA]

100,000 x 20 million people....😂😂😂

[@robert5]

Many Many people go an entire life time without ever putting in an insurance claim.... on homeowners insurance.

[@LemonViper00]

Deductible for insurance is the BIGGEST scam to ever exist.

[@Chat562]

You can get insurance without a deductible. It just costs more because all those little claims cost money to pay and handle.

[@LemonViper00]

@@Chat562 exactly, scam. So I have to pay more for my deductible to go away. I’ve had insurance for over 20 years. If I make one claim, my insurance goes up and I owe $500. I’ve paid well over $50,000

[@Chat562]

@@LemonViper00 No, you're paying more because you're getting more insurance. Choosing to have a deductible and complaining about it is the same as choosing to not have comprehensive and complaining insurance won't cover a tree falling on your car.

[@vernondavis561]

Fun Fact: USAA came into existence due to the fact that life insurance companies would not sell life insurance to military members. As a result, a group of military officers decided to pool their money and would pay a death benefit in the event one of their comrades lost their life due to enemy action. Today, USAA is one of the largest and most competitive insurance companies in the USA. Perhaps, it’s time for Florida homeowners to try something similar.

[@Rickettsia505]

I think Louisiana has done something similar.

[@jesseostone386]

My husband recently checked out USAA on the advice of my brother-in-law, both Air Force vets. I’m not sure what kind of coverage my husband asked for a quote on, but there was no discount or better rate from USAA than what we have currently through State Farm. We were so disappointed!

[@vernondavis561]

@@jesseostone386Perhaps it’s time to once again to pool resources with responsible and like minded individuals to insure one another while bypassing the commercial insurance industry.

[@Baebon6259]

@@jesseostone386 USAA rate is a bit higher than many mainstream but when you need to file claims, they will fight on your behalf to get them. That including auto insurance as well. So far all my claims with them resulted in minimal premium increase. Month home insurance is $85. $390 for 3 vehicles. 2 full size SUVs and 1 full size pick up.

[@NPC_YouTube]

Unfortunately, it’s Florida…

[@rogerdeese2491]

I lived in South Florida all my life. At 33 I bought a house with cash and 2 years into living there my insurance doubled. I dropped the insurance and lived there for 13 years with no insurance. Never an issue only had soffit damage 1 year and it cost me $50 to fix myself.

[@francesguinta8614]

You’re lucky so far. A former coworker lost his entire house in Hurricane Alicia outside Miami.

[@michaelcarter266]

Just make sure you have money saved up just in case.

[@robertwalker5521]

​@@michaelcarter266 ...and hope the money is not in an institution that goes upside down and withholds even a partial amount for months or years ...legal expenses?

[@deelowe3]

​@@robertwalker5521what? There are plenty of ways to safely invest large sums of money.

[@JohnnyDanger36963]

DING,DING,DOUBLE DING!! MAGIC ****33*** AND MAGIC ****13**** SPELL CAST!!❤ WHAT, NO 666??

[@don_cc123]

My flood insurance premium (TX) was up 81% this year compared to 2021. So I decided to bail (no pun intended!). Not going to pay those thieves for even one more year of coverage...I'm not in a flood plain, I will self insure and take my chances.

[@DemPilafian]

If no insurance company will provide you flood insurance at a reasonable price, maybe your house is not so safe from flooding. Lots of houses get flooded out even though they technically are not in flood plains.

[@neilkurzman4907]

You’re going to self-insure and take your chances? Or are you going to be on the news saying the federal government should value out because you pay taxes?

[@IMRROcom]

He probable lives on a hill well above the flood plain. Noah and his boat will show up well before flood waters reach his house. He might be in the same Boat.

[@DemPilafian]

@@solskengroupllp2758 Word of the day: *Lien*

[@neilkurzman4907]

@@solskengroupllp2758 If you still have a mortgage, then it’s up to you to pay for insurance. Otherwise you’re in default of your loan agreement. At which point the bank will either buy the insurance and charge you for it, or foreclose.

[@GrannyPantss]

Be sure to follow up with them now, post Helene, to see how that worked out for them

[@jasonmoquin]

They live in St. Petersburg. So, unless they were again super lucky, it didn’t go well. My best friend lived close to that area. I say lived because Helene tore through her neighborhood and she lost her entire home. She’s moving back to New York, because she cannot afford to rebuild again even if the insurance company pays the max payout, which they will fight tooth and nail not to do.

[@Iris-zq5mq]

Was looking for this comment. I was wondering the same thing

[@vandra2]

7k a year X 14 years = 98,000 he said the home AND lot is only worth 80k yes they may be replacing the whole house but that was going to happen anyway.

[@noraxbeth]

Or tomorrow, post Milton 😢

[@archneme1702]

It wouldn't have worked out well even if they had insurance

[@rickblue2977]

As of one week ago, my wife and I made the decision to GO BARE on our Florida home. For us (when considering the rates, the deductibles, and the fact that our insurance company would not insure our house for full replacement value), it made sense.

[@JacqueCRISCOsd]

A lot of people need to check their replacement cost. My quote had replacement at $190k in San Diego which is way too low.

[@ThePhantomGamerForever]

I would personally just leave Florida and find work elsewhere. That place has too much flooding.

[@ThePhantomGamerForever]

@@Swamprowdy true. Especially if you're talking central Florida

[@maggiejetson7904]

@@poollife777 If you don't need replacement value why buy insurance? Might as well go bare. Also why not just sell / cash out and rent?

[@sebastienbolduc5654]

A smarter and more financially responsible move would be to not own a home if you cannot afford to insure it. Why even enter into the housing market if insurance is that expensive in Florida? Rent instead of buying.

[@MedOKC]

As long as you can afford to cover any losses, power to you.

[@smokingjoe9864]

Swing a hammer. People used to build their own homes.

[@KC9UDX]

Even if you can't, it shouldn't matter. And no, the taxpayers shouldn't have to foot the bill. The more people stop paying for protection, the more the cost of protection goes down. And then the cost of building materials goes down because insurance companies don't have money to throw around. Plus, less people committing insurance fraud.

[@stevenlevernier7357]

You seem to think you can take out more money than you put in. Moron...

[@THX..1138]

Actually it doesn't matter if you can afford to cover the losses. Chances are about 100% after a hurricane FEMA will make you a low interest loan to fix your house. Guaranteed the payments on that loan(should you ever need it) will be way less than premiums for hurricane insurance. FEMA also gives grants for people to make repairs, but that's hit or miss and it's usually only enough money to cover the average deductible on hurricane insurance, the loans are a sure thing.

[@KC9UDX]

@@THX..1138 FEMA shouldn't be doing this.

[@timdaniels4707]

I have also saved about $100,00 by not insuring my Sarasota Florida home for the past 15 years. I sleep just fine at night.

[@priscillawagner6205]

But did you SAVE that money in an account you keep sacred or did you spend it??? Most ppl don't have the money smarts or discipline to do that

[@thecircledance]

@@priscillawagner6205 You can lock it into a term account so you can only access it once a year (or whatever term). That makes it inaccessible and you get to use it to earn via interest.

[@SoCalRobots]

I would say 99% of other countries in the world do not offer or need home insurance. Most people pay cash for homes in other countries. There is no such thing as a mortgage.

[@willyshep6796]

@@SoCalRobots that's not true

[@archneme1702]

@@priscillawagner6205 You would have been paying that money for insurance so i don't understand why that is so hard

[@peter7936]

So, how are these people doing now, after Helene? Do they have cash on hand to hire contractor's right away? Personally, my wife and I stopped paying flood insurance on our ADU/garage when rates for $100K of coverage went to $6K/year. Moreover, flood insurance has extremely limited coverage. If something does happen, we can rebuild out of pocket, although we might have to cash in some CDs.

[@grayrabbit2211]

We did the same. I live(d) on Fort Myers Beach. We had minimal damage but still aren't back into our home yet because of infrastructure issues. Our insurance, Flood, Windstorm, and Property still hasn't paid one single cent. When renewal came last month, we dropped all of the policies except liability. The building went through 50 years of hurricanes. This was the first time one took it out of service. We are just going to invest the money we would have spent and self insure.

[@kf5hcr176]

If you don't mind, I'd like to know which insurance company you use for a liability policy. And the coverage amount and policy price. I have an umbrella policy on my farmers insurance auto policy. I'm sick of insurance costs and property tax, we're in TEXAS. Thank you in advance.

[@grayrabbit2211]

@@kf5hcr176 my FMB condo is insured by Chubb. I had to go with Assured Partners for my temporary condo as they were one of the few writing policies immediately after the storm. Best of luck!

[@buddrinkerdrinks]

i feel the same. my car insurance price has doubled in 2 yrs...and its going up again come this feb. and all i carry is libility, uninsured motorist (we all know why), towing, and comprehension (for the deer that run at night here in north texas)...and i drive a 05 crown victoria. fyi its 540 every six months, no wrecks no tickets.@@kf5hcr176

[@JoanBrown-j3e]

My 30 year mortgage was paid off almost 15 years ago in 17 years. I immediately cancelled by homeowners insurance.

[@exceptionaltalentspc4954]

Smart move. Insurance does not even exist in many countries and they are doing just fine.

[@Robin-xt7yo]

No mortgage anymore but I pay $1,800 for a million dollar policy. Because with my luck, the UPS guy will slip and fall on my snowy walkway (New England).

[@KentDaGangsta]

Awesome, what’s your address? Asking so I can slip or trip on your driveway and me and my attorney and medical cost will easily take your house for general damages caused to me because you don’t have liability insurance 😊

[@flman1478]

@@KentDaGangsta can't take a persons home away in Florida ask OJ😏😏🙄🙄

[@davidlawson4281]

I live in Coastal Georgia, right on the marsh. No mortgage since 2007. Flood insurance was about $6000 per year. Flood insurance would not have covered lower level, anyway, so I canceled insurance. In 2017 we were flooded by hurricane Irma, at a cost of about $40k. We had saved about $60k on flood insurance, so we came out ahead in the end.

[@armankordi]

And I’m sure you made money on interest in a savings account too…

[@publicuser2534]

I think the most important part about your comment is the second sentence. I am not sure exactly what was going on in 2007, I was in Iraq. I just know that one year later, the housing market collapsed. Today, it is damn near impossible for a person of my age, 37, to own (mortgage) a home, never mind have it completely paid off. You are fortunate for sure.

[@davidlawson4281]

@@publicuser2534 I hear you. Houses are being bought up by companies like Blackrock, creating shortages for the remaining market. I too served,and pisses me off what greed and govt bureaucracy is doing to the country, esp vets.

[@insaneapples1559]

@@publicuser2534 Because instead of Iraq, he was probably in 'Nam and bought his house a long time ago when it was more affordable. But that's like crying you didn't get in on Bitcoin when it was $13.

[@TheScrubmuffin69]

Until this happens every other year and now you're wayyyy behind

[@DanaS-b8d]

My family lost their home in California fires in 2017. One big issue not mentioned, is that when there is a disaster the cost to rebuild skyrockets in that area as demand for contractors goes up. Also, my family was lucky to rebuild in three years. The insurance paid their rent that entire time. Many had to wait even longer.

[@TheAnnoyingBoss]

At least they didnt get left homeless for years becsuse imsurance loves money and hates people

[@BashoStrikes]

Exactly. I've paid cash for my homes through the years and have not purchased insurance from the thieves for 50 years. I made monthly insurance payments all through the years to myself through mutual funding. I've been lucky and have not had to draw from that fund. Now if something adverse happens I could rebuild my house 2Xs over. I got rich from my self invested insurance money, instead of making the insurance thieves rich. It's hilarious!

[@rdred8693]

Is that easy to do? Mutual funding?

[@BashoStrikes]

@@rdred8693 It's been super easy for me. I've let investment firms do it for me through the years.

[@1ireneaustin]

Why we paid cash as well..for home and auto...ugliest house and car but we dont keep up with anyone....we have security and that is the pinnacle of satisfaction ..that and real friends and family...take your sovereignty back.

[@1ireneaustin]

​@@rdred8693a mutual find ....thats what is meant. Mutual fund right now pays you 6k a year with a 200k deposit. Leave that money ¹0 years and it will double

[@SheLoveSports]

@@rdred8693 I think the original commenter is referring to buying mutual funds. It is very easy, allows you to diversify, and the fees are generally less than buying individual stocks. Warren Buffet recommends it (I believe that his will/estate is set up so that if he precedes his wife in death, the money will be invested in mutual funds). Anyways, Vanguard is the original creator of mutual funds but nowadays most brokerage companies carry some.

[@sarita5572]

We don't waste our money on home owners insurance. We live in tornado alley too. It's best to put that money into yourself and save it. We had our roof torn off during a tornado this year...we fixed it ourselves out of pocket. There are still people down the road who did have home owners insurance still waiting for their roofs and property to get fixed. Insurance is a HUGE SCAM!

[@Comm0ut]

Is there a reason you didn't build a proper structure like a concrete dome (whose roof cannot be blown off by wind) instead of the usual US house? Tornado alley guarantees getting hit but wise construction can eliminate damage.

[@2011blueman]

@@Comm0ut Actually tornado alley doesn't come close to getting hit. In fact you're more likely to get hit by lightning in tornado alley than you are to being hit by a tornado. In contrast you are pretty much guaranteed to be hit by a hurricane if you live in Florida.

[@suebennett9347]

I am seriously thinking of not renewing my wind and hail insurance because the prices go up every year because the housing market is so inflated. What gets me is when housing deflates, insurance never goes down, it continues to climb. We had hail damage and our insurance was not going to pay for a new roof when eight other homes on our block got new roofs for the same hail storm...we fought with them and won, but we will never forget!

[@moe9246]

Yes, they will pay for attorneys and court costs to fight you over your own money though.

[@acornsucks2111]

They say insurance rates have to rise to cover inflation, but they rise when there is no inflation.

[@florjaha]

Yes. I had a claim for hail damage and they denied it. It took over a year and hiring an attorney to get my roof replaced. Of course, my insurance went up!!

[@skelafeti]

absolutely, I've never seen a premium go back down once raised. Mine was raised 2 years ago due to price of building materials going up due to pandemic. Well supply chain issues have pretty much been resolved but they sure didn't lower that premium. In my region housing has not gone up by that much compared to other regions and they use that excuse to keep them inflated.

[@mainegreengrower4209]

​@@florjahahow big is the roof?..i do roofing and people pay with credit cards..usually the house they are in is bigger than they need, then cry about the price when they get it..average i would say is 25k..thats to protect everything you own..

[@oscar.p3214]

How’s every one feeling about going without insurance after Helene ?

[@KabobHope]

Depends on where they live. Milton right behind.

[@greg33770]

Many of us seniors, who own their homes outright, have no home owners insurance. This is nothing new. I haven't had any in 10 years, after I was dropped by my insurance, after 20 years of paying my insurance bill year after year and never ever having a claim.

[@UncleFjester]

Ask around.... how many other neighbors have had insurance claims...ZERO!

[@Suiseisexy]

home warranty is another similar scam, ours refused to replace a dishwasher and kept jury-rigging it over and over until we stopped asking. we replaced the heating unit and the installer from a real company discovered the home warranty company had also unsafely jury-rigged a machine that runs on propane without telling us. if you wanna see a technician take 3 hours to leave your house stressed to the point of almost crying figuring out how to do this for $2 by all means get a home warranty.

[@mainegreengrower4209]

​@@Suiseisexyyou dont use insurance to pay for dishwasher..this is a big problem in america..everyone using insurance for minor things and wonder why it always goes up..

[@Suiseisexy]

@@mainegreengrower4209 It's a home warranty, it's supposed to be insurance for appliance repair and bills itself as such. It then forces techs to repair without parts to save money resulting in dangerous jury-rigging. You have low reading comprehension because your leftist school genuinely hoped you'd grow up to be politically irrelevant, which means you're white. See now how did I do that? Magic. Next I'll pull a silver dollar out from behind your ear.

[@Old_Sailor85]

I have an acquaintance with a second home in Florida. His insurance rates went up some ridiculous amount this year, something like $25k a year. He said screw it, I'll take my chances. Of course, he owns it outright, so no Bank/Mortgage involved.

[@Chutney1luv]

He made a smart decision! 💯

[@neilkurzman4907]

@@Chutney1luv He will find out if he made a smart decision when he sells the property and didn’t get wiped out by a hurricane.

[@Helmuesi911]

I don’t understand how Florida has residents.. the worst place in the country to live.

[@kutter_ttl6786]

​@@neilkurzman4907at $25K/yr he could probably afford to reinforce his home and pay out of pocket for any repairs and still end up ahead.

[@billk8579]

@@Helmuesi911the worst place…come to Baltimore…Charm City…the city that reads…murder central.

[@kc1776]

They seem like smart and kind people.

[@michaelb.8953]

Or lucky, but yes I agree that if I was in their shoes that seems like quite a reasonable option.

[@FairBeautyEssentials]

@@listenupfoolionot funny

[@Andyholt]

For average American to survive,I think will all need to find alternative means, imagine working for 40yrs to have $1m in your retirement, while some people are putting just $10k in a meme coin for just few months and become multi millionaires. if you don't invest, you're missing out on opportunities to increase your financial worth.

[@marier.sherman]

Absolutely right,Money invested is much more better than money saved, when you invest, it gives you the opportunities to increase your financial worth.

[@shirleya.osgood]

Exactly,The key to financial freedom and wealth is someone ability to convert earned income into massive profit to build generational wealth.

[@anitaj.bartley]

You are right to be wealthy you have to trade, earn and live your life as you please, Don't say tomorrow when you can do it now. Don't continue watching others earn when you can.

[@juluviaarmstrong]

I'm with you the best way to build massive wealth for the next generation is to consistently invest in business and guard them grow

[@badeni_zlsn]

yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.

[@plantcitychuck2551]

legalized extortion.

[@UncleDavesKitchen]

or choose to live in a state not plagued with hurricanes.

[@alexaecho4273]

Legalized man made SANDBOX Florida is.

[@jimbeam2705]

No one is forcing you to buy.

[@martinpalm5]

bingo.

[@Sultan88888]

That old guy was right on the mark when you said going bare was the second best decision he ever made, then looks at his wife!!! He is a gem!

[@youxknowit]

best part of this video!!

[@AdamBechtol]

:p@MikodoHizo

[@imnitguy]

@MikodoHizo no doubt.

[@Kim-yl7yg]

I stopped in Jan. Screw the donations I was giving to the insurance companies.I live 5 miles from the beach in a 350k home with a new roof and impact resistant windows. My insurance went to $ 9,300. Everyone I know that lives in S.Fl has gone bare.They don't pay for anything anymore. If your roof is damaged, they have the right to repair instead of replace. Residents in Ft.Myers and Punta Gorda are still waiting for settlements. ENOUGH !!!

[@TEverettReynolds]

I have friends in NY and NJ still waiting to be made whole from Hurricane Sandy... over 10 years later.

[@flman1478]

@@TEverettReynolds So sorry to hear that.

[@stefonthemove]

I wonder if they feel that way now?

[@theone4042]

I love this. You get insurance to prevent you from going bankrupt if there’s a disaster now insurance alone will bankrupt you.

[@Pepsensoredbytheman]

I paid insurance on my boats for 28 years, never claimed a scratch. Hit something one day and needed a new outdrive. The insurance company (boat us) gave me the biggest hassle and wanted me to buy new parts and combine them with old parts in order to make me whole. I ended up paying the difference on top of my deductible to buy a complete new drive. 28 YEARS NO CLAIMS! Insurance companies are crooks, they love to take your premiums, but when its time to make a claim, then we have a problem.

[@1ireneaustin]

All insurance is a scam now....just try to make a claim and u will find out. Insurance was real until about 1990 2000....then they hired a slew of Harvard lawyers and MBAS. their main function now is to keep all ur premiums and never pay...your going to state board of insurance for a complaint????? U say??? They are corrupt and more bought off than the insurance companies. You dont know it but u are without insurance now whether u pay or not

[@zoner__]

Name?

[@qwerty112311]

In recent years, insurance companies have been paying out more in claims than they’ve made on premiums and deductibles. What crooks do you know of that break in to a house and deposit money?

[@1ireneaustin]

@@qwerty112311 If you think for one minute that "insurance companies" are not paid very well, the CEO and all their employees and the massive bureaucracy that is the insurance industry then I cannot help you. The truth is that the insurance industry is corrupt and the agencies that are supposed to stop the corruption are corrupt as well. Tell me this: The patient pays the money and the doctor is supposed to get paid for the work he/she performs. The middle man is the one getting paid and the middle man (insurance company) is the only one that is not involved in the patient/doctor relationship. ARe you telling me the insurance companies are working for free? ARe you telling me the insurance companies are bankrupt? Your logic is flawed but I have no illusion that I will change your mind. This was a complete waste of time.

[@JadeAndMakayla1]

People are still fighting claims from Ian a year ago. FL is a sad state

[@mrbob9556]

I just won a court claim with insurance company from Irma four years ago. I've being waiting for backorder roof tiles for a year. I decided to not let the crooks get away with not paying and dumping us after 15 years paying with no claim.

[@manariitane5167]

It's not Florida - it's the insurance companies.

[@mrmoore1423]

Has nothing to do with the state, its these penis blowing insurance companies

[@magesalmanac6424]

No, it’s both. If Florida didn’t have such volatile weather it wouldn’t be an issue.

[@bbrcummins1984]

​@@magesalmanac6424you should really do some research Skippy

[@zancrus9629]

So how about an update? How are the doing after Milton?

[@jessicaparker374]

Living on the NC coast and Progressive raised my homeowners/wind and hail from $1600 to $7100/yr. Ending ALL my insurance policies with Progessive.

[@joes3534]

They are waiting for you to move and they will buy your property.

[@TheScrubmuffin69]

Lmao when people who live on the ocean when the ocean does ocean things: "wahhhh they raised my rates because my house has a 50% chance of going in the ocean the next time there's a storm wahhh government come and help me even though I voted against my own interests wahhhhh"

[@RK-de5wg]

Great idea for someone who has the money! AND, IT SPEAKS volumes to insurance companies gouging people without lifting your middle finger!

[@josephrice29]

They're not gouging people...... it's sheer Folly to think that an insurance company can dish out 500k 50,000 times, 3x a year for 3 years in a row and not have massive rate increases..

[@RK-de5wg]

@@josephrice29 but you forget it’s the game they want to play! High risk, equals high reward. Think about how many years go by with all of that free money invested?

[@kevinc8955]

@@RK-de5wgFlorida’s problems are Florida problems. We get hurricanes in SC and our insurance isn’t like this. My parents live in Florida and after a hurricane small business contractors will start knocking on doors asking you to sign a form to get a free roof replacement. They take care of filing the insurance paperwork in exchange they get to replace the undamaged roof and collect the claim money. My parents have done it twice in 20 years and have the audacity to complain about insurance rates. Everyone in their neighborhood does it. No laws preventing it.

[@burtburt2263]

Then, making up any excuse not to cover flood damage like they so often do...Do this if at all possible! Screw the interest tax write-off; Pay the mortgage off first, amd foremost...

[@Tugela60]

​@@RK-de5wgIt is not high reward. Net margins in property insurance is around 5%, which is lower than most business sectors. It is actually one of the less lucrative businesses around. Rates are skyrocketing because claims are skyrocketing. Most insurance companies don't want to insure in Florida at all, the risk is that high.

[@evilisfun9935]

I got dropped for not having a door on my garage and I am inland. It is an unattched building and I only wanted the house insured. I go without insurance now and just save the money.

[@towgod3096]

It is NOT the homeowners responsibility to find cheaper rates/ discounts. It's the insurance companies' job to offer the most competitive rate to get a customer!

[@ron4501]

I owned a ground floor condo in Las Vegas. The upstairs condo's water heater flooded and damaged my unit. I had never submitted a claim in all the years I owned the condo. After my claim was paid, the insurance company cancelled my policy because I had the nerve to submit a claim!

[@garybregel4606]

It's a racket. Too many laws have been passed in favor of the insurance companies. You would think that only one claim would not get you canceled.

[@Chainyanker007]

@@garybregel4606- Politicians get laws passed because of lobbying and contributions from insurance companies that of course greatly favor the companies.

[@garybregel4606]

@@Chainyanker007 Exactly.

[@merec3627]

I worked for a major insurance company many years ago. I worked in the auto division but I had friends in the home-insurance department. They said that people in Florida were forced to pay for hurricane coverage, as in it was not optional. But get this; the 4 counties with the highest risk of hurricane damage had to pay higher rates while also being tempted by the offer to lower their cost if they dropped hurricanes coverage. That's right, the 4 counties with the highest rates and the highest risk of hurricane damage were the only ones with the option to decline hurricane coverage while the counties with the least odds of getting hit by a major hurricane had to pay for hurricane coverage.

[@garybregel4606]

It's a racket. If you are forced to buy something you don't want, then how can they say it's a free market.

[@newkirk7591]

Interesting, I would assume those 4 counties are dade, monroe, broward, and palm beach.

[@meagiesmuse2334]

We live in a part of Florida that almost never gets hit but we have to have coverage. Companies base decisions on whether or not your zip code has any water front homes in it anywhere. If it does, they drop everyone in that zip code, even people who are not in any evacuation zones and are high and dry. We have friends who went bare long ago. Every year they enjoy a fabulous vacation with the money they saved. If it goes much higher, we will have to follow them, since we are on a fixed income and food and electricity come first! I know people who still have mortgages who were forced to get food stamps due to having to pay for insurance they cannot afford.

[@EzioBellic2KOOL]

You are spouting complete nonsense, this is not true AT ALL. You can deny windstorm and hail coverage all you want, you just need to sign a disclosure form stating that you understand the risks of denying coverage yada yada. I actually work in the insurance industry and i have a degree in the field

[@baldisaerodynamic9692]

smart on the insurance company when you look at it. if you dont have coverage, you dont have to get paid by them. they still win.

[@spritzpistol]

I love these two, they are strong, sensible, resourceful and obviously in love ❤ 😊

[@kathyjuola6317]

I hear that area was hit hard by this week's hurricane. I hope they are not regretting this decision.

[@archneme1702]

Insurance may not have paid the claim, it could have taken a year or two if they even paid what was needed or they could have shorted tthem 80% of the claim and they had a 20,000 deductible and may have had to pay significantly higher premiums and premiums were increased annually.

[@briangc1972]

I stopped paying for homeowner's insurance 10 years ago. Sometimes I wonder if I made the right choice, but the house is only 15 years old and I maintain it to minimize fire risk, so I should be ok. I know several neighbors who are also "self insured", the trend is growing. Modern western society has conned people into wasting so much money on insurance schemes that are only there to benefit the insurance companies. The hardest part is overcoming the mindset that we have to have insurance on everything.

[@georgepoitras3502]

at a minimum i would get Coverage for injuries on your property, especially if you own a dog.

[@conniead5206]

I recently saw a homeowner in Florida interviewed by a reporter. The reason was that his homeowner’s insurance was canceled. Supposedly because he has solar on his roof. And the reporter said he wasn’t the only one. Solar panels can damage the roof. Especially when the installers do a bad job. I got the impression that if you want solar, mount it in your yard.

[@cocosurgerow]

Don’t put solar on the roof ! Not worth the problems of roof repair.

[@getinthespace7715]

Solar panels can be a fire risk also... Walmart, Amazon, and a couple other companies completely scrapped all their rooftop solar because the dang things kept catching on fire. Buyer beware.

[@worldwidestuff5567]

A few years back my boss had his homeowners insurance dropped by the provider, reason? Foot long hairline crack in the cement driveway 50+feet from the house. What a joke.

[@AFAskygoddess]

My HOA put solar panels on the clubhouse roof years back. Hurricane Matthew destroyed the clubhouse in 2017 because of those panels. The roof was ripped off. None of the 125 homes in our community were badly damaged because none had solar panels.

[@Leo-fk9ch]

Here in Calif, the cost of any solar system is by far made impractical when you factor the cost of electricity vs the cost of a “practical” solar system. . The main provider of electricity in my area pays only wholesale rates for selling your power back. Then there are the insurance complications, and of course if it’s on the roof .. the added cost of related water damage or what people miss most, the added cost of a roof replacement when needed. My home came with solar panels on the roof, I had them taken off and the roof redone. The seller actually took a reduced price on the purchase as a result. The roof was 10 years old and the attic showed some water intrusion.

[@TheOtto3663]

I just spent a month in Steinhatchee, Fl. demolishing and rebuilding after Hurricane Idailia. The friend I did the work for didn't have flood insurance, and not having it paid him dividends in the end. If he would have been paying flood insurance since 2016, it would have cost him almost $30,000 more to repair everything. His gamble paid off, and it was well worth it. Insurance companies suck and they find any and every reason to not pay a claim. Insurance is and always will be a scam. Especially auto insurance where they have their businesses right next to the DMV.

[@marceld6061]

I agree about home insurance but auto insurance is a different animal. Auto Insurance is important to protect yourself against THE OTHER GUY. He hits you and has no insurance? Yours would cover you. You accidentally hit someone and severely injure them or kill them? I hope you have deep pockets because you are getting sued. ( I say this after coming out of an accident where the other guy pulled out in front of us while riding our motorcycle. He's now out 1M) You *house* is very unlikely to cause any harm to anyone. So in that case, it makes sense if you can afford to self-insure.

[@meoff7602]

​@@marceld6061Sounds like something universal healthcare could take care of or you know. Just affordable healthcare. Really don't need car insurance.

[@marceld6061]

@@meoff7602 So, someone writes off your vehicle and injures you (and in my case, my wife too) and you can no longer work, EVER- "affordable healthcare" is going to pay your mortgage or rent? How will you pay for that "affordable healthcare" when you can't work because your back is broken? How are you going to pay for a wheelchair, or modifications to your home, or any other need you will encounter? How will it even pay for that tent you will be living in once you lose your house? Now, if you hit someone else, will you be able to afford to pay all of their expenses out of pocket?

[@meoff7602]

@@marceld6061 Pretty sure becoming disabled. Is something that allows you draw from social security. We already have the solution for that one.

[@marceld6061]

@@meoff7602 It sounds like you work for minimum wage. I can assure you that SS doesn't make up for losing $90K/year per person in income. All the best to you. I hope you don't find yourself in a similar situation.

[@SCarter02767]

Would love a follow up to this... See how they are after Helene

[@donaldhipple4921]

$7,000 annually. $20,000 deductible. Easy decision. I know a well prepared home will ride out hurricane winds, but if storm surge or major flooding is possible due to location. Buy insurance or move.

[@ivanrodriguez268]

you could get the flood insurance for that, and skip the home owners

[@Forward-t7x]

Really a 20k deductible? Wow that’s a lot to come up with even if you are insured

[@khbow2810]

Our policy was going to be $13,000, 1263 square feet mind you, with an $18,000 deductible. Gone bare. Beach people don’t run away from the beach. It’s not in our blood.

[@alexcameron2880]

@@Forward-t7x Most damage can be repaired for less than that deductible.

[@floridamaninthewild]

We live at the top of a rise in the topography putting our home 150 ft above sea level and and almost 80 above the surrounding area. Insurance wants additional 5k a year for flood coverage. We decided to bank that money instead of watching it go into the insurance company's pocket. This tactic isn't for everyone but it's really paid off for us.

[@uncleshark1103]

Insurance companies: (raises insurance rates 40%) Homeowners: (stop paying insurance companies) Insurance companies: (shocked Pikachu face)

[@magesalmanac6424]

I doubt they are actually surprised. When deciding to start pulling insurance in the first place they likely planned for these contingencies. Few people will revolt and stop paying for insurance.

[@Pontiakos]

Homeowners who go bare after Cat 5 hurricane: (sad Pikachu face)

[@alexaecho4273]

They don’t care if you have no insurance Lmfaoo but your bank will cus you will have to file for bankruptcy

[@alexaecho4273]

@@magesalmanac6424they won’t care lol sadly that’s what happens when you live in a man made state like Florida

[@urekmazino6800]

​@@Pontiakoscat 5 hits you'll be dead most likely

[@markusfors7001]

So what happened to this couple after Helene and Milton?

[@TevvvB]

lol I’m wondering the same

[@kurtsevick2008]

My home was built in 1973 with no sink holes ever reported near it. I'm saving almost $2,000 a year by not having sink hole coverage.

[@Tugela60]

Until a sink hole forms under the house. The subsurface ground in Florida is all limestone. It is riddled with underground voids and caves.

[@accountantintraining4752]

​@Tugela60 How long will their insurance take to cover hole? They may state the hole must be a certain circumference and located at front or back of home. There's always something wrong and many limits to home insurance company limits. There are no limits on them taking your money fir 20+ plus years from now is there?

[@Tugela60]

@accountantintraining4752 If a sinkhole forms on or close to your property it is pretty much a write off and worthless. There is no repairing it, you lose everything. And it can happen anywhere in most of Florida, usually with little or no warning. That is why you buy insurance, to mitigate the financial damage if it did happen to you.

[@Jenvlogs404]

@@Tugela60it happens in the guIf side

[@jeffmorse645]

I purchased a lot in 2021 in NE Florida. Before I bought it I looked at FEMA maps to make sure it was not in a flood zone. I built on it last year and its all up to cuurent code - concrete block construction, roof and windows rate for 150 mph. I moved in last fall and for full coverage with $1,000 deductibles it was $820 a year. The agent said since its new construction (those up to date codes again), concrete block, a "high and dry" lot and on the west side of I-95 made the difference in the rate. I'm still a 20 minute drive from the beach, but I dont have to pay the ridiculous prices to enjoy it. You can still have a reasonably priced home in Florida, you just have to temper your expectations about location and do a little homework.

[@thereserivera7691]

The older your home gets, insurance will skyrocket, even in NE FL, Jacksonville specifically, as well as auto insurance, in all of FL.

[@jeffmorse645]

@@poollife777 It had it's replacement value figured in ($315,000 - smaller 1,450 sq ft house, cheaper part of the Florida). I have been told it will creep up every year though as the house ages.

[@pwoeckener]

I'm in Tallahassee, which is about as far away from the coast as you can get in Florida. My 1990 home cost me $3,400 for homeowners insurance last year. That doesn't cover wind damage or anything outside of fire damage or theft, etc. The previous year my homeowners insurance was $1,800, and when I moved in here in 2013 it was about $1,200. Never had a claim, and I had a hell of a time even finding a company that would insure the property originally. I'm pretty much close to doing what this couple has done, especially since we can cover repairs ourselves with savings. It's an incredibly stupid game these insurance companies play with people's lives. I'd say borderline criminal extortion, but you can leave the borderline part out.

[@alfredstmartin9031]

Insurance is another criminal entity

[@PauliG]

I'm wondering how this is working out for them now after Helene

[@ChristopherAbelman]

We bought spring 2022 with a 5% rate (it had just started going up). Flash forward to today, a house on our street just went up for sale, same floor plan listed at $75k less than what we paid. Albeit with a higher rate, so a higher monthly payment nonetheless. That to say…yeah it always feels a little oof to see them coming down.

[@HildaBennet]

Housing costs will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@FinnBraylon]

This is precisely why I like having an asset manager look over my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a manager for more than two years, and I've made over 85% of my initial price.

[@FinnBraylon]

Don't be hesitant to contact Sonya Lee Mitchell and follow her directions.

[@anttyzale5455]

@@HildaBennet Seems like housing prices should be based on wages. The average person makes X dollars and housing should be a multiple of that figure.

[@billlee1724]

@@FinnBraylonSonya lee Mitchell once gave me a sloppy toppy! Best sloppy toppy giver in the NE United States, she really puts the sloppy in sloppy toppy

[@phyllisbreese4289]

if you don't have a mortgage, this is the way to go. I remember homeowners who suffered losses during hurricane Sandy in NJ that still hadn't seen a dime of insurance money YEARS after the storm.

[@paulschannel3046]

I dropped my wind and hail about 10 years ago. It was getting so very expensive and it increased with every bill I got from them. I have saved about $40,000 at those decade ago prices. If you also factor in the increases I didn't pay the last decade because I cancelled... my savings are likely closer to $60,000-70,000.

[@metalrooves3651]

PROUD OF YOU,ALL YOU WHO ARE BOYCOTTING THE INDUSTRY

[@mollyturgess3153]

Did they survive the recent hurricanes?

[@thomask4836]

I used to only carry liability on my cars. After 15 years, that savings paid for one of my vehicles. It was like getting a vehicle free. Like they say, it's a risk and not for everyone.

[@darkshadowsx5949]

car insurance is a scam too. the value depreciates but your rates go up anyway. ALL that money would be better off going to a savings account. insurance companies should operate more like banks instead of gangsters asking for protection money.

[@jonathantaylor6926]

I'd be nervous doing that with a new car. But I don't bother insuring any car worth under 10K.

[@atlas108]

Brilliant! I agree with them 100%. Florida actually just recently changed the law so that roof insurance isn't required and we decided to do that since it is lower risk in our area.

[@Celexanomnom]

The amount of corporate greed is beyond out of control. It’s criminal to have kids today. They’re completely screwed

[@lmaoyourekiddingme]

Any follow up?

[@bbraat]

The one pro-insurance factor I will note in this discussion, which I learned in Insurance Law class, is that insurance is often not about how much they will cover for you but it is how much their legal department will fight to avoid paying. If you don't have insurance your potential liability is unlimited but when you have a prepaid legal department going after the claimant, they will at least limit the payout to a nominal amount or not pay at all. I experience this personally with car insurance. My neighbor experienced this with her apartment which was flooded due to old pipes in the apartment above her. She asked the landlord company to ONLY pay for HALF of her new mattress that was destroyed. The building said no, it wasn't their fault that their pipes burst and flowed for 8 hours. First, I asked her why she wasn't asking for the landlord to cover everything rather than half the mattress. Furthermore, my neighbor didn't even think of calling her renters insco so I told her to enter a claim for everything. The next thing you know, the landlord is getting inundated with legal citations confirming that the landlord is 100% responsible and the landlord settled with the insurance company and re-plastered and painted her apartment. In these situations the insco must payout to the insured and THEN go after the other party (landlord) for reimbursement so you don't have to wait.

[@LibAlcock]

Common sense seems to dictate: Build your own emergency fund instead of paying for overpriced coverage that doesn’t deliver when needed.

[@barnandhome]

Anybody want to weigh in on how the “ambulance chasing” attorneys around America have contributed to rising insurance costs? It’s not just hurricanes raising rates.

[@victoreous626]

Great point. The injury/accident liars fight the installing of video cams in our autos.

[@PlayfullWithFire]

For some reason this is in my feed a day after Milton!

[@JerryGarcia-s7f]

Love it!! These people are Mavericks I love them! We got to keep fighting back against these nasty insurance conporations and banksters!

[@TimeSurfer206]

"Insurance: Money you pay someone so that, in an emergency, you can be told how THAT isn't covered."

[@seriejohnson698]

Straight up criminals.

[@Joe-cu4hi]

I’ll be going Bare in the next few years. My State Farm which we had for over 19 years denied every hurricane claim but was quick to raise my rates faithfully every year

[@joes3534]

What is the denial reason?

[@turboimport95]

state farm sucks hard, i used to have them for car insurance, even with no wrecks/claims or tickets, they kept going up on me, I asked why is my rates going up? they said "Because of drivers in your area" So you want to charge me more, cause of jackasses that cant drive? They said yes. I dropped their ass quick, and now they call me every now and then and beg me to come back, hell naw.

[@thequickbrownfox7289]

Curious how that worked out for them now after Helene and Milton.

[@fredfrond6148]

My exact comment before I saw yours.

[@ElementofKindness]

I can't speak on homeowner's insurance, but I can on health insurance, which I had to put to the test earlier this year. The insurance company denied services the doctor deemed necessary. I ended up having to pay for much on my own, including an MRI. *The problem is, most insurance companies are publicly traded, with their first priority being the stockholders. Paying policyholders are just "crops" and the less the insurance company has to pay out, is all they care about.*

[@Eb-or]

Why did they deny?

[@ElementofKindness]

@@Eb-or Like I already said, they because don't want to pay. They wanted me to do six weeks physical therapy for a yet to be diagnosed (and already once misdiagnosed by a previous doctor) condition, and only then, if there was ZERO improvement, would they agree to pay for the MRI. Mind you, with the sluggish health care system of today, I had already been in incredible pain for several weeks just getting to see two doctors. I had to take medical leave from work, and FLMA only lasts 12 weeks. I sought out and got my own MRI, which revealed one bulging spinal disk, and another severely herniated. The doctor was shocked that I was even standing when he saw the results of the scans. He ordered surgery. Again, denied by health insurance. Instead they said I go for spinal nerve block injections, of course being, the cheaper of two options. (and does nothing to actually repair the damage) Took weeks to get several rounds of injections. Eight months later, I still wear a decompression brace when driving, (bought on my own) and I walk with a limp. Still have some pain that comes and goes. The moral of the story being, an insurance company should not have the ability to overrule a doctor's decisions.

[@Rickettsia505]

Amen! We must take business and profit out of healthcare, and pharmaceuticals too.

[@GonzoT38]

@@ElementofKindnessand people gum flapped about the govt "death panels". There's your Soviet centrally managed care right there, courtesy of the "private system". But that will make some people glitch, they can't negotiate the cognitive dissonance of barking against single payer, while a private insurer triages and meters their life sustaining access to health care. Insane clown country.

[@wizzle-]

Loved seeing this couple do this! Very smart. Cheers to them both. 👏

[@brandoncomer6492]

I like how the insurance guys solution is to bundle even more insurance as if that would somehow end up costing less.

[@noeraldinkabam]

Wonder how they are today oct 11 2024?

[@suruha2306]

Um, I haven't had ANY homeowners insurance on my home in over 30 years! Can't get it! The companies demand so many expensive 'standards', I'd have to rebuild my entire house! Some of the demands were flat out ridiculous! Like, painting a freaking back door! I live in Florida in the middle of the state. I financed through a private entity and paid it off.