Florida in an Insurance Crisis

I have been paying 4800 per year for my homeowners with large deductibles. I received my renewal for 9899 per year. I received a Citizens' quote for 5640 today. I can pay that all in one lump sum. Or lower my coverage. Pretty upset over this.

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4meAndyou · F

A friend of mine just got socked with mandatory flood insurance coverage, which brings the insurance for each of his properties up to about $9000 a year. He is sick about it because he owns four homes.

I called my brother who owns two condos there, and he says they have ALWAYS paid that much since they bought the properties about 10 years ago. It is included in the condo price.

akindheart · 61-69, F

@4meAndyou I bought flood insurance too. I have a jewelry floater too. With a condo, you don't own the outside of the condo. you own from the inside walls in. so what you are talking about is the insurance covering the structure. he needs an HO6 policy for his contents and the walls. I adjusted property for years.

when i first came to Florida, i paid 387 per year but i worked for an insurance company. After Andrew it went to 1100+ then up and up.