Facing South Florida: Homeowner Insurance Crisis

Jim DeFede went one-on-one with State Sen. Jeff Brandes, who pushed for the special legislative session to address the homeowner insurance crisis.

[leonardovocalist]

Dude, that Guy work for the Insurance Companies

[marriev]

Waste of time ... discussion here I have been screwed over and over meanwhile all my neighbors have new roofs because they hired a crooked attorneys. The system sucks all of these politicians are all corrupts. Save money for a new roof piece of &%$#.

[TravelerWendell]

The question is will banks allow homeowners with a mortgage to buy Actual Cash Value homeowners policies? I don't think they will.

[dinoflagella]

Sounds to me that insurance companies, in a rush to sign on as many new customers, bit off more than they could chew. Now they’re choking on these AOBs, and the greedy attorneys are chomping at the bit to further strangle the insurance companies. Maybe start saving money by cutting back on these damn commercials. I don’t know how many damn Geico home insurance commercials I see per day on youtube alone.

[FR-tbxh]

Between the overbuilding in uninhabitable areas, building right up to the sea’s edge, cheap construction, irresponsible maintenance, corruption, and stupidity, it’s no wonder insurance companies are pulling out. It’s high time homeowners started paying their share of the actual costs if the companies actually stay.

[paulconner]

So they think the AOB changes will reduce lawsuits because the customers will just give up instead of fighting it like the roofing companies do. As for the insurers going under. Have you checked to see if they are holding back enough of the premiums to pay for claims?

[albertatimmons]

It would be great if everyone got fair pay.

[bigstickful]

This guy gets it. Better listen to him.

[lowkey_nev]

I work in insurance, and I get what he's saying, but no homeowner should buy an actual cash value policy when a replacement cost policy is offered.

[Joda-esxd]

In my humble opinion, the issue we have is that many insurance company seem to always want to pay less. Maybe a viable option is if the homeowner is not content with the payout and a public adjust is used and the amount is higher, there should be an agency to review the case and if the insurance company is under paying the claim there should be some sort of financial penalty to the insurance company to deterred this type of predatory practices.

2. Why can We buy insurance coverage just for my loan amount, currently Insurance company want you to get a coverage that are 3 to 5 times the loan amount “claiming the replacement value”. Example you owe 100k and you need to have 350k coverage. Makes no sense and thus resulting in a higher amount of insurance ( the lank in this example is 100k so the bank will not have a lose should they home owner walk away. As you indicated in car insurance we don’t get a new Toyota every 1( years but we should the same option to insure to what our loan or mortgage amount is not what they require us to have.

[bigstickful]

Tort reform, tort reform, tort reform.

[JohnPeter-yfjf]

This Guy Gets IT!
if my insurance company had to buy me a new car every 10yrs because of wear; they wouldn't want to insure me anymore.

[joedeli]

Mine has doubled in the last 2 years despite a new roof, new impact windows and doors, and a new tankless water heater.
Edited to add I pay for my own stuff, I don't dump it on my neighbors or my fellow taxpayers.

[zeke]

Build your house on a hurricane bowling alley-see what happens

[t.f.]

It's called, move. Go somewhere else.

[LifeMax]

The whole insurance system is corrupt. They do everything possible to not pay. Individuals need home repaired as soon as possible. The AOB allows them to get there home repaired and move back in.

[lisahertel]

Blame the governor?? Hate to tell these people that they aren’t the only crisis. Thank dems

[genestarwind]

HAHAHAHAHAHA
Red states being forced to deal with the effects of climate change through deregulated Capitalism. Now asking for Federal Money. OMG!

The Irony is so so rich.