Homeowners Insurance is ABOUT TO EXPLODE!

Citizens insurance here in Florida is proposing a homeowners insurance increase of 12% for all homes that are primary residences and up to 50% increases for investment properties and or vacation homes! And here's the thing, this is not just a Florida problem, insurance companies are pulling stunts like this all across the country. How much longer until homeowners insurance explodes?

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[rockpadstudios]

The cost of living is getting scary for all of us.

[michaeltorrey]

When I bought my house long ago in my youth I was not thinking of it as an investment but having it paid off for mortgage/rent free retirement. I don’t consider it as part of my net worth since I can’t liquidate without being homeless. I think treating home ownership as an investment has probably done more damage than anything.

[joannbeyer]

I'm a Commercial Insurance Agent and I can tell you the property and auto rates are increasing and insurance companies are doing replacement cost valuations due to inflation which leads them to require you increase your building limits... it's like a double hit. It's a pain for insurance agents too.

[graywilliams_.]

The market's direction can swiftly change, with indexes frequently transitioning from a bear market to a bull market precisely when the news is most negative and investor sentiment reaches its lowest point. I came across an article highlighting individuals who achieved profits of up to $150, 000 during challenging market periods. Considering this, I am curious about the best stocks to purchase now or add to a watchlist.

[MeadowDay]

Property tax and insurance is killing Texans!…these are awful times with an awful government…just kickin the can till 2024!

[lynnec]

What I realized long ago is that the Insurance, Investment, and banking systems have the no intention of leveling the field. They have legislators, legal teams and always cover themselves. The GAME IS FIXED.

[gstreitenberger]

You are correct! They are kickin the can down the road. For a big finish!, !

[directrue]

Another great video!! Just move to Costa Rica 🇨🇷 🌎🌺🦥🏄🙈 Blue Zone country 🌎 the size of CT and you have caribbean, pacific and beautiful Rain forest a few hours driving away and still cheap to buy a house in some parts of the country.. not Insurence and políticas BS ...the crime and shootings in the USA is going up fast sadly..

[michellegrooms]

People can't afford there home owners insurance and they can't afford the HOA fees and they can't afford there car payment and can't afford grocery. What are they supposed to do?

[anniejaneNYC]

I’m in NY and ins company are requiring a inspection on houses before they renew ins policy- everyone is talking about this - why?

[charlessalvaggio]

Citizens is requiring flood insurance coverage.

[Leo-zv]

Those insurance companies are doing a mafia style shake down.

[ajfeinman]

I live in my Toyota Prius. So I don’t have to deal with any of this

[stevetse]

There is just too much debt. People are tapped out. Mortgage, Student Loan, Auto Loans, Consumer Loans. There is not enough cash to service this debt. There will be massive defaults across the board before the end of the year.

[livinincalifornia]

I just got a quote for some vacant land and the cost to build a house on it. You wouldn't believe how many line items there are.
It's just a basic 1400 sqft. house but the costs are near $450, 000 total.

[ProfessorHattington]

Imagine they keep raising rates and 10 years later the insurance premium on your investment property ends up being more than your mortgage payment 😂

[vikki]

The hometown heroes scam is a flaky, slick trap for the unaware. Your view of it is spot on, in my opinion. It's another form of reverse mortgage.
Sick behavior from mortgage lenders, too.
Anything for money.

[Juliet]

Yes, rates are up due to replacement costs. Some places more than others, especially high risk areas like Florida. Thank You Michael and Happy Wednesday!

[sirenmuscle]

Here in Los Angeles, on the neighborhood watch site, there is a lady saying she just got notified by her insurance company that her sfr home policy was going up from $2, 000 yr to $12, 000 yr. That's insane.

[ILLUMINATOR]

Interesting information thanks Michael