Florida Carriers are Sparse... What's goin on???

[Mike Siegal]

Hey Buds,

I did a random inquiry shopping PC insurance in S.fla for SF homes....there is only 1 ACTIVE competitor (if you want to even call them a Competitor)....and that is Citizens !

• Wat da ???

What happened to the insurance market in Florida.... have all PC Carriers Left the Area???

?

 

[marindependent]

Not a Florida P&C agent, but the Florida property market has been a mess for a long period of time. When is the last time you saw lots and lots of options there?

 

[Mike Siegal]

Not a Florida P&C agent, but the Florida property market has been a mess for a long period of time. When is the last time you saw lots and lots of options there?

A few years ago we had Universal, Citizens and a few others.

Now...we got 1 ???

 

[fed up]

Not an expert on Florida but my understanding is that depending on the zipcode most insurers are secondary market to the state insuring the address because of the losses from hurricanes over the years starting with Andrew

 

[DonP]

My brothers paying $650 a yr for homeowners 10 miles from beach in Amelia island . It’s new house and that includes hurricane coverage . I didn’t believe him and he showed me the policy . But on most of Fla coast few I surfers will write .New Orleans looking at the same fate .

 

[Allen Trent]

A few years ago we had Universal, Citizens and a few others.

Now...we got 1 ???

Sounds like a business opportunity to get some investors together & start a carrier. What's the worst that could happen?

 

[fed up]

My brothers paying $650 a yr for homeowners 10 miles from beach in Amelia island . It’s new house and that includes hurricane coverage . I didn’t believe him and he showed me the policy . But on most of Fla coast few I surfers will write .New Orleans looking at the same fate .

Which carrier is it with? If it isn't the state, are you sure it is not secondary coverage?

 

[ICACharleston]

Insurers are worried about rising sea levels and global warming but I have it on orange authority it's a hoax!

 

[Yagents]

The Cost of Insuring Expensive Waterfront Homes Is About to Skyrocket

 

[Allen Trent]

The Cost of Insuring Expensive Waterfront Homes Is About to Skyrocket

Yeah, and that is just the flood policy with limited coverages, not even the regular Home policy & separate wind policy/coverage needed in Florida