Home Insurance Rates SKYROCKETING (Explained)

Homeowners insurance across the USA are skyrocketing. But why? In this video I speak with an insurance expert on the rising insurance rates (and specifically to Florida).

The rise in insurance rates makes real estate less affordable. It will also cause property owners to be forced to sell their properties due to the hike in insurance rates.

Some reasons why homeowners insurance rates are rising are as follows:

- In Florida we have attorneys teaming up with roofing contractors who are making a fortune suing insurance companies and getting FREE roofs. Which in turn creates more difficulty getting insurance on roofs over 10 years old and even properties older than 40. Or at an extreme high cost.

- Flood insurance is rising as well as FEMA just created their new flood maps and many homeowners are getting a rude awaking of their new high flood insurance rates.

Scott Ehrenfeld is an insurance expert in the state of Florida. If you have more questions or need a quote for insurance in Florida, he can be found at the following:

Way Better Insurance
239-210-7720

*FOR INVESTORS & REAL ESTATE BUYERS*

*FOR REALTORS & BROKERS*

*OUR OTHER CHANNELS:

*Follow Steve*

You are supporting Steve and this channel by using some of the links provided which in turn provides us an affiliate commission to keep this content coming out as well as job creation. We appreciate all of your support!

Disclosure: Steve Daria is a real estate broker. He is NOT an attorney, accountant or financial planner or any other type of licensed professional. Always seek out the appropriate professionals in your area for the advice needed regarding taxes, law, construction and finance. Florida Real Estate Broker Lic# BK3030453.

[danhealey]

we did a metal roof and the over all cost was not that much more and our insurance went down

[peanutsassyathena]

Homeowner's insurance issues did keep me from moving to Florida. I know people who live in upper-central Florida & their rates took a considerable increase. My concern is this is just the tip of the iceberg. As weather worsens I believe even more insurance companies will withdraw from Florida & those that remain will continue to raise prices along with a growing list of policy exclusions. This doesn't fit with my retirement plans or budget.

[peterinbrat]

Eleven months ago~ Gee.. why is insurance higher on the west coast? 🤔

[HANSIHANZEN]

Yikes! Well that explains why my Ormond Bch home (e coast) premium blew up from 3, 400 to 6, 800. I’m floored! Making some calls today- what r folks supposed to do?! On top of everything else stressful these days, I can see how overwhelmed, desperately depressed individuals take their own life.

[mxcurtis]

Absolute Gold keep ‘em comin! Thanks gentlemen

[anniealexander]

My primary home ins went up $600 annually.

My roof is 3 years old. But that's great info on roof replacement.

[nicholascooper]

Good job - Steve The King of Real Estate. I like the length of this video as well.

[carlosponchio]

Insurance companies deny claims that are made by home owners right and left. Almost none will accept a claim if you call them after a storm. Owner brings in an adjuster and he files a claim, usually higher then what the owner claimed. They deny that too. The adjuster brings in lawyers and sue. There you have it. A roof that would cost $20K with first claim is now costing the insurance company $ 60K. They blame the home owner instead.