(07-12-2023, 09:43 AM)homebiscuit Wrote:

(07-12-2023, 09:34 AM)mikesez Wrote: Probably not.  Those TV advertising contracts are national.  State farm also pulled out of providing homeowners insurance in FL but we still see those commercials.  If someone in FL calls looking for homeowners insurance, they will refer you to a partner company (the partner company pays for this advertising,  of course).  More money and less risk for them that way.  None of these companies are "on your side" any more than the farmer is on the dairy cow's side.

Is State Farm no longer writing new policies? My homeowners insurance is with them.

If they still offer coverage, like several other companies they are increasing FL rates on the catastrophe related portions of policies to a point that most consumers will not purchase from them. 

I'm not sure the letter of the law on how they are allowed to offer, or not offer coverage based on flood zoning and historical hurricane impact in an area, but insurers seem to just be prohibitively inflating the cost to properly insure properties deemed most at risk if they'll insure you at all. 

This is the story I heard from a recent homebuyer on the gulf coast of FL anyway ^ 

Interesting sidebar on the insurance landscape after a Hurricane:
One of my jobs is based in SWFL and the area was greatly affected by Hurricane Ian about 10 months ago. 
I need to rent a telescoping boom lift to make an improvement on the site of my business there. 
Prior to the hurricane -  I have rented one of these fairly basic 45 ft booms for about $500 per day. 
In the wake of Hurricane repairs - the demand and knowledge of insurance funding has driven this cost to $1400 per day and rental shops cannot guarantee when or if one will even be available. 
They have the really big ones that come on a full flatbed trailer behind a semi available, but none of the models that were formerly reasonably priced. Gotta decide how long I can put off this fix unless I want to plunk down $2K for a 6 hour rental on an overkill piece of equipment.

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