Coverage Collapse: More discussion on Florida's home insurance crisis

WPTV's Matt Sczesny and Shannon Cake host extended town hall coverage on Florida's home insurance crisis.

[@totallyscrewed1326]

Where is Desantis? It really seems like he's trying to avoid the biggest problem in his state.

[@rayRay-pw6gz]

He is not stupid. He has a campaign to run.

[@jihanjude6634]

The Florida legislature has dropped the ball.

[@rhammond2152]

I don't live in Florida, but I found the format and program very informative and interesting. Great job on production. You ought to have something like tis every month.

[@pubmeatman]

A town hall. Isn’t that precious. I don’t think that’s going to have any affect on the politicians that are bought out by the insurance industry. The outrageous cost of insurance is pure greed pure and simple.

[@onetwo-dr8hl]

Barbara: I’m a senior on a fixed income Mark and Robert: You’re screwed

[@trirail812productions8]

florida whould be better if they hit the red button and stop letting people come here

[@davidt2963]

Maria complaining while holding a $1200 iPhone, a $400 iwatch, and $10000 diamond ring. God bless her struggles. 🙏

[@twowheeler1662]

How can you force insurance companies to stay in state where natural disaster damage and out of control litigation costs far exceed revenues from premiums?

[@brianstevens3858]

Wxample Farmers is one of the one's who pulled out. ""How much profit did Farmers Insurance make last year? Historical Data Year Revenues ($M) Profits ($M) 2023 $14,0920.3% $-314 "" so kind of not really happened.

[@DrRiley01]

Or how do you not incentivize flood and wind mitigation? The reduction with a new roof or tie downs is small and making sure your property is as well protected as possible should give more incentives

[@Chano601]

They need more oversight and regulations for insurance companies

[@rayRay-pw6gz]

Florida is a red state. Less government.

[@kaizersosai8560]

Move to a state that doesn't have catastrophic hurricanes every other year. Problem solved

[@GungaLaGunga]

Disasters happen inland away from the coast. This is spreading, and will come to your area. You'll see. Insuance, taxes, fees, assessments. The hyper wealthy will devoure your city too. Greed doesn't care where you are. You will be squeezed out too. You can't compete with billion and trillion dollar corporations. No one is immune to unchecked greed. By 2030, private equity and wallstreet are on target now, to own 60% of the single family homes in the USA. They will own your home too. You will own nothing and love it.

[@stephtraveler7378]

Silver lining. Those that don't insure and can't afford to rebuild after a storm will open opportunities for a new generation to move in or to return the land to the public. i.e. Think adding more public beach access and green areas in neighborhoods. It also get the storm prone homes out of the insurance pool.

[@steveg6978]

Will the risks becomes concentrated from Hurricanes, you simple either stop doing business or raise rates.

[@pawsitiveleader8710]

There are many areas in florida that are rarely damaged by a natural disaster. They should not have to pay high premiums. As far as near coast or water, the prices are inflated for profit regardless.

[@rayRay-pw6gz]

Not so. Insurance is a business. Shop around.

[@pawsitiveleader8710]

@@rayRay-pw6gz so all this is not true?

[@rayRay-pw6gz]

@@pawsitiveleader8710 I was saying your statement was not true. I am not saying that insurance companies do not work together to increase profits. We need the insurance system so if they go out of business, our whole financial system would collapse. They have no answers for the natural disasters hitting our country. And toss in the rapid rise of inflation from the Covid pandemic . It is very complex problem.

[@pawsitiveleader8710]

@@rayRay-pw6gz yup

[@krissewar1036]

Don’t worry about no insurance. FEMA will pay for it. WHAT?

[@jihanjude6634]

This is a great program.

[@steveg6978]

Climate change has its costs

[@ormondbeachr1]

1. Your insurance does not cover land. Land is not a recoverable loss and only the buildings and structures are insurable. 2. It’s unfortunate that the older generation is not able to afford coverage due to a fix income. Right now wind coverage is the highest insurance premium to afford and you are only able to try to mitigate that risk by reinforcing your roof with straps or continue to shop until you find a provider in your budget. Age of the home is not a testament that the home is hurricane proof because it has yet to be destroyed. The older the home the more likely the house will be destroyed by a hurricane due to statistics. 3. Laws don’t work overnight and rate are not going to drop as a response. Just like it took 5 years for the premiums to get this bad it may take 5 years before it stabilizes and starts to reduce. There is nothing that can be done besides stricter new guidelines and laws to prevent claims from shady roofing companies and lawyers. 4. Citizens insurance does not mean they have the best rate. Keep shopping and see about what you can improve your property to reduce the rate such as wind credits. Get a second opinion. 5. Competition can help, but it does not mean rates will drop hard. They may go down by a few 100s but are a sign that companies are considering the risk to be worth it. 6. How mapping is conducted is based on the rate of claim in your area. Even though you never made a claim in your life, does not mean that the risk of you making a claim in the area won’t increase. If fires are erupting in your community, the chances of you having a fire has now increase. This is the same for wind claims. What makes this especially troublesome for wind claims since it is easy for companies to file false reports on the extensiveness of damage the roof has had. If your roof is replacement cost that means the provider will only replace your roof if more than 25% if the roof is damage per the regulation of Florida, however roofing companies and lawyers damage the roof past the 25% to get a bigger payout in a full roof replacement instead of patching. People don’t notice the roofing claims because it’s not noticeable and most happen under the 25% margin.

[@Voodoo_Kudzu]

Lackluster corporate shills being tossed softballs and giving empty, meaningless responses. No substance at all. An apathetic charade. Business as usual.

[@mediumrare9051]

Move.

[@JohnSmith-wg3pl]

GO GOP GO BROKE