What's Behind Florida's Property Insurance Crisis? State Sen. Jeff Brandes on Special Session

Have you been dealing with homeowners' insurance sticker shock or get a notice that your policy is canceled? There's a LOT to know about the current property insurance crisis here in Florida. Joining me for this episode is State Senator Jeff Brandes (R) District 24 to discuss what's behind our insurance industry problems and possible solutions.

*Melanie Loves Tampa Bay does not make political endorsements

Melanie is a Tampa Bay area Realtor with Smith & Associates. She loves Tampa Bay area area, houses, and helping clients buy and sell real estate.

Call/text me if you are looking to buy / sell a home in the Tampa Bay area!
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[MelanieLovesTampaBay]

Call/text me if you are looking to buy / sell a home in the Tampa Bay area!
📞 813.616.2427

[materialgirl]

Thk you for your hard work and great videos. We wanted to move out of Jersey at the time of the pandemic. I am glad we waited. A big correction is gotta happen.

[carminefragione]

Major manufacturers of roofing shingles warranty architectural shingles for 25 to 30 years of life in Florida's climate, but then Insurers declared these stronger shingles only last 15 years and refuse to insure past this arbitrary red line, of 15 years, depriving homeowners of the original investment value of paying high prices for more durable shingles. So the insurer can scam the homeowner, but the homeowner cannot scam the Insurance Company. Thus so many lawsuits occurred and the Insurers with the money to control , they say the homeowner is scamming , when in fact the Insurance Company collected full premiums for replacement cost of roofs warranted to last 25 years, or 30 years, but when the homeowner had a claim , they denied that the roof had any value, if over 15 years. So it is a crooked system run by the Insurers, at fault.

[AmerQuin]

Wow, Melanie- great job! Thank you, for a very informative video. Jeff renews my faith in our leaders. I hope he ends up as Governor some day- and maybe President.

[irishinusa]

Kudos Melanie 👏 👍. Thank you Senator 😊
This clarity is very much needed. As potential buyers we are finding the issues outlined on here VERY CONCERNING and a "put off".
Great job on pulling this together 👍👊
Great representation

[timdailey]

Another very informative video topic. Paying for a new roof now and this video has helped me in the decision to "self-insure". I have a friend who is a Catastrophe Insurance Adjuster and he tells me the horror stories of those who lost everything only to find out "a loop hole" in their insurance companies coverage policy negates their claim. Corruption runs deep no matter where you look these days.

[ilirsako]

Great interview and very informative! Great job and thanks to both of you!

[TechDeals]

We had this issue in Texas, the solution was to increase the deductibles on wind/hail for roofs to the point where no one claims them unless they REALLY need a new roof. Most new policies that I've seen are 2% wind/hail, which on a $500K home is a $10K deductible. You're not claiming that for some minor roof damage. The other option was increased insurance premiums to the point of unaffordability.

Having said that, I've lived in Texas most of my life, owned a home for almost 20 years. It's been well known for a long time, "you don't buy your roof in Texas, your insurance company buys your roof". That's changing, but it's been a long time coming.

[jesusito]

So nothing will be done to attorneys and contractors for filling fraudulent claims

[kansasistheman]

Very informative discussion. Very bizarre how this was allowed to continue for so long… if you say fraud is rampant, then you need to go after them instead of slowly closing the door

[paulblack]

Thanks Melanie for this informative video on property insurance for new and current homeowners. Will past this on to my friends and family 👍

[kumarsukhdeo]

We’re going to be a lot of trouble with the next big storm ⛈- if Citizens can’t cover their costs because they don’t have enough in reserves, what then? 😵‍💫

[deljay]

Yikes just got renewal and the home insurance rate more than doubled to $3400

[garfielddaley]

Thanks for covering this issue people will have to sell older homes

[deep]

He is so intimately involved in this issue, why doesn't he participate in writing /amending the legislation?

[mirealtygroup]

Thank you for such an informative vid. I have questions that might be suited to an Ins. agent. But here they are. 1 No mortgage means you don't need Ins. Self Insure as they say in Fl. 2 What is the " Armor Plated " roof. Meaning Brand New the Charge is 1k vs 3k for a 15 TO 20 year asphalt. Would a steal roof warrant lower premium. Tile ? What do Ins. companies like. Something bullet proof like a Shipping Container. exaggeration intended. 3 Termites or Storms, Block vs Frame. I would think there would be something of a price variant. 4 In Brevard Co. all the new const. are Block. I'm investigating ICF construction. Foam Lego Blocks with rebar and poured concrete in the center. Strong and insulated R factors for possible Energy Efficient gov.rebates. PS Don't rack your brain too much.

[dreday]

I was kicked out of Eddison insurance b/c they said the condition and/or age of roof. I was livid b/c the roof wasn't even 20 yrs yet (18 or 19) and there was absolutely nothing wrong with the roof! I was then fp for a couple months until mt agent found Citizens. I refinced and had to use some of the equity to replace the roof so my premium would drop. Even though i need new flooring desperately. At the time roofers were going around saying oh will chk your roof for storm damage and file a claim . They were already doing some of my neighbors roofs. I didn't want to go that route because i was already seeing issues. The warranty on the shingles I purchased is 25 to life with 100 or more wind strong hold. So this new law to obtain a new roof every 10-12 yrs is ludicrous and very oppressive in my opinion. This needs to be addressed or people are going to lose their homes. Btw Citizens just called to do an inspection again!

[kbsanders]

Can the state go after the law firms and contractors that abused the system?

[jamesblanton]

I just about had a heart attack when I saw my homeowners insurance bill this year It’s crazy

[hvaball]

ummm... maybe we don't need insurance companies and their profits... as was stated, it's our laws and lawyers that drive this problem.

maybe state self insurance is the answer, without litigation.

insurance companies doing their math and not being able to generate their profit is a good thing. think about that.

if there was no insurance... what would a house cost then? my insurance only covers my mortgage. I could just as well hand over the keys. it is a secured loan.

same thing if there were no loans. what would a house cost.

by the way, people don't drive their houses into one another!