Florida property insurance market on disastrous path

"3. Allow home insurance companies the option to offer a roof value schedule in their policies." Seems to make sense to me!
ACV roof coverage is terrible for the homeowner/policyholder, and does nothing to fix the actual problem of AOBs (assignment of benefits) and rampant lawsuits.
 
ACV roof coverage is terrible for the homeowner/policyholder, and does nothing to fix the actual problem of AOBs (assignment of benefits) and rampant lawsuits.

You know what's worse than ACV on a roof? Not being able to purchase insurance at all because there's either no options or it's too expensive
 
You know what's worse than ACV on a roof? Not being able to purchase insurance at all because there's either no options or it's too expensive
Sadly, it's already too expensive, with the average HO policy costing over $4,000. And, after losing over a dozen carriers since 2020 (with more on the bubble), we've never had fewer options.
A few hundred dollar premium credit for ACV roof coverage does little to offset a $2,000 overall increase (which is becoming shockingly common). Especially with every shady roofer and bus-bench attorney just dying to file their lawsuits.
 
Sadly, it's already too expensive, with the average HO policy costing over $4,000. And, after losing over a dozen carriers since 2020 (with more on the bubble), we've never had fewer options.
A few hundred dollar premium credit for ACV roof coverage does little to offset a $2,000 overall increase (which is becoming shockingly common). Especially with every shady roofer and bus-bench attorney just dying to file their lawsuits.

Are you losing any to insured's to Captives and are they non renewing/tightening as well?

I hope they get this mess fixed for you!
 
Sadly, it's already too expensive, with the average HO policy costing over $4,000. And, after losing over a dozen carriers since 2020 (with more on the bubble), we've never had fewer options.
A few hundred dollar premium credit for ACV roof coverage does little to offset a $2,000 overall increase (which is becoming shockingly common). Especially with every shady roofer and bus-bench attorney just dying to file their lawsuits.

It helps the insurers from going bankrupt if they're not having to place entire roofs at full cost or from an uncovered peril but it looks like Florida is passing legislation to help halt the problems you stated in your first post

[EXTERNAL LINK] - Florida lawmakers can't agree on how to manage insurance costs
 
It helps the insurers from going bankrupt if they're not having to place entire roofs at full cost or from an uncovered peril but it looks like Florida is passing legislation to help halt the problems you stated in your first post

[EXTERNAL LINK] - Florida lawmakers can't agree on how to manage insurance costs
Yes. I was just reading a similar article. The state legislature is in a special session as we speak. While I was hoping for more immediate price relief for homeowners (myself included!), what they are considering should help stabilize the market in the longer term. So, fingers crossed.
 
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