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Oct 6 - Florida's Home Owners Facing Insurance Crisis



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 2 months ago '17        #1
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Naga Sadow  topics gone triple plat - Number 1 spot x23
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Oct 6 - Florida's Home Owners Facing Insurance Crisis
 

 
+3   



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35 comments
 

 2 months ago '20        #2
Xiox  topics gone triple plat - Number 1 spot x1
Props total: 75706 75 K  Slaps total: 13779 13 K
Watched several homes get undermined & washed away in that Ian storm , Florida is very sandy & those homes were built on bad raised foundations. They might need to drill couple holes to anchor the footing on those homes . Florida also needs to build every home out of concrete
+11   

 2 months ago '04        #3
qutaboi225  topics gone triple plat - Number 1 spot x17
Props total: 65495 65 K  Slaps total: 7816 7 K
Insurance companies going under and pulling out. Dirty greedy bastards claims it's because of rampant insurance fraud when the fact is....hurricanes don't fit their greed model. People pay ridiculous insurance premiums for years and then when it's time to make a claim, insurance companies haul a*s with the profits and bonuses
+53   

 2 months ago '15        #4
storyboutdamans 
Props total: 1456 1 K  Slaps total: 590 590
I knew this would be the last hurricane covered by these insurance companies. Apparently I was wrong and they not even gonna cover this one.

“Sorry we didn’t tell you sooner!”
+12   

 2 months ago '20        #5
Xiox  topics gone triple plat - Number 1 spot x1
Props total: 75706 75 K  Slaps total: 13779 13 K
Let's see what government does to insure those homeowners
+6   

 2 months ago '15        #6
ACBG 
Props total: 1359 1 K  Slaps total: 141 141
 Xiox said
Let's see what government does to insure those homeowners
Gov not doing anything. They getting paid the insurance companies and if they do do something it’s going to be so little it won’t mean anything.
+2   

 2 months ago '16        #7
Proveone  topics gone triple plat - Number 1 spot x4
Props total: 119899 119 K  Slaps total: 7729 7 K
Clown show down there














Biden gon make that man shake his hand and thank him on live TV
+4   

 2 months ago '11        #8
Broseph Stalin  topics gone triple plat - Number 1 spot x9
Props total: 62157 62 K  Slaps total: 5825 5 K
duh, insurance business model only works if you give them money on a monthly basis indefinitely and they never have to reimburse you even in the case of a legitimate claim
+14   

 2 months ago '06        #9
LABoy83 
Props total: 6107 6 K  Slaps total: 215 215
Same thing happening here in Louisiana. Premiums jumping over 10k for a select few, but increased across the board

But UPC is the biggest fu*kin joke. Had them for the first two years we owned our house. This spring, they notified damn near all their customers here that they wont be renewing policies. Wonder if they’re going under
+6   

 2 months ago '11        #10
Kooper  topics gone triple plat - Number 1 spot x4
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 qutaboi225 said
Insurance companies going under and pulling out. Dirty greedy bastards claims it's because of rampant insurance fraud when the fact is....hurricanes don't fit their greed model. People pay ridiculous insurance premiums for years and then when it's time to make a claim, insurance companies haul a*s with the profits and bonuses
Nah.

Florida has one of the highest public adjuster usages nation wide., plus contractors have dumbass insureds signing a*signment of benefits and jacking up supplemental damage estimates by over 60% in tile roof claims.

Cali, FL and MT have some of the worst statues for replacement for matching on roofs and siding.

You take a 3LF piece of vinyl siding and a contractor will flip that into a $40k siding estimate then place a lien on your home after not telling your insurance company about it or telling the insured that the insurance will cover it just send us the bill.

Fraud rampant af in insurance.

Had a claim today where an agent sent a $33k roofing estimate from a claim with a 2018 date of loss

Obviously insurance companies (my employer) included are in it for a profit, but MFS DONT READ THEIR POLICIES

I work in catastrophe claims and still don’t read my policy, but with me in the industry I know what to look for and what coverage I have.


MFS thinking they have a $500 deductible when they have a 2% wind/hail deductible for $16k on a home with $800k limits.

Read

Brokers are pushing out the cheapest policies with the sh*ttiest coverages to people to get a bigger book of business with the hopes of people not having wind or water losses.

Company I work for also has a model in place for people with high hurricane deductibles where if you experience more than one in a year then the second loss we would apply your cheapest deductible, $500 or $1000 Vs $5000-$17k helps a lot.

We literally have losses that underwriting and our examining partners should review written in our policies to make insureds whole


Last edited by Kooper; 10-06-2022 at 08:59 PM..
+15   

 2 months ago '22        #11
Mrdadbo 
Props total: 1312 1 K  Slaps total: 8 8
Had a bad plumbing leak in my house, filed a claim. fu*kers told me they consider plumbing a construction issue and therfore not covered.... so I hired a construction lawyer, and got 60k. Took us over a year but they was gon pay what they owe.

They also dropped us right after.
+19   

 2 months ago '17        #12
Its 
Props total: 47811 47 K  Slaps total: 3550 3 K
Boy them companies ain't sh*t lol
+3   

 2 months ago '04        #13
Mercury 
Props total: 7369 7 K  Slaps total: 378 378
 Kooper said
Nah.

Florida has one of the highest public adjuster usages nation wide., plus contractors have dumbass insureds signing a*signment of benefits and jacking up supplemental damage estimates by over 60% in tile roof claims.

Cali, FL and MT have some of the worst statues for replacement for matching on roofs and siding.

You take a 3LF piece of vinyl siding and a contractor will flip that into a $40k siding estimate then place a lien on your home after not telling your insurance company about it or telling the insured that the insurance will cover it just send us the bill.

Fraud rampant af in insurance.

Had a claim today where an agent sent a $33k roofing estimate from a claim with a 2018 date of loss

Obviously insurance companies (my employer) included are in it for a profit, but MFS DONT READ THEIR POLICIES

I work in catastrophe claims and still don’t read my policy, but with me in the industry I know what to look for and what coverage I have.


MFS thinking they have a $500 deductible when they have a 2% wind/hail deductible for $16k on a home with $800k limits.

Read

Brokers are pushing out the cheapest policies with the sh*ttiest coverages to people to get a bigger book of business with the hopes of people not having wind or water losses.

Company I work for also has a model in place for people with high hurricane deductibles where if you experience more than one in a year then the second loss we would apply your cheapest deductible, $500 or $1000 Vs $5000-$17k helps a lot.

We literally have losses that underwriting and our examining partners should review written in our policies to make insureds whole
I work for an Insurance company and have for the last 12 yrs. Your whole post is 100% facts
+5   

 2 months ago '04        #14
Chronos  topics gone triple plat - Number 1 spot x7
Props total: 29053 29 K  Slaps total: 866 866
 Proveone said
Clown show down there














Biden gon make that man shake his hand and thank him on live TV




You know he cried in the car




Biden got that don't make me take my belt off look.


Last edited by Chronos; 10-06-2022 at 10:09 PM..
+4   

 2 months ago '11        #15
Ahhhsit 
Props total: 2624 2 K  Slaps total: 246 246
How did I know the man living in florida the conservative state was going to suggest "government intervention" now that he needs help

 2 months ago '11        #16
Kooper  topics gone triple plat - Number 1 spot x4
Props total: 24195 24 K  Slaps total: 3273 3 K
 Its said
Boy them companies ain't sh*t lol
I can see smaller companies doing it due to paying out on claims in heavily hit areas like FL, LA for hurricanes and smoke and ash in Cali.

Those areas get hit multiple times a year damn there every year.

Smaller companies go under and bigger ones Jack up premiums based on the risk factor and demand

 2 months ago '17        #17
Skrr 
Props total: 8549 8 K  Slaps total: 1474 1 K
 ACBG said
Gov not doing anything. They getting paid the insurance companies and if they do do something it’s going to be so little it won’t mean anything.
they will though. if you have coastal property typically it's FEMA you can cop insurance through and that goes to a max value of 250k. Government recognizes that the private insurance market, with profit in mind, would never cover oceanside properties otherwise and stepped in years (decades?) ago

 2 months ago '13        #18
PCDubya 
Props total: 14222 14 K  Slaps total: 1474 1 K
This happened in NJ with sandy. fu*king insurance company told me this wasn't a hurricane, it was a super storm. Thank God fema ended up paying us to rebuild our house.

Just goes to show you that insurance companies have big influence over government.
+4   

 2 months ago '06        #19
imthatinfamous  topics gone triple plat - Number 1 spot x1
Props total: 44908 44 K  Slaps total: 12158 12 K
Not for nothing, I got fam that lives in the keys who's home got rocked 4-5 years ago during the last major hurricane and they have since just said fu*k it and pocketed the insurance money and just live in camping trailers on their land while still having a home owners insurance policy...I wonder how many people did this and as a result helped start this issue.
+1   

 2 months ago '06        #20
imthatinfamous  topics gone triple plat - Number 1 spot x1
Props total: 44908 44 K  Slaps total: 12158 12 K
 PCDubya said
This happened in NJ with sandy. fu*king insurance company told me this wasn't a hurricane, it was a super storm. Thank God fema ended up paying us to rebuild our house.

Just goes to show you that insurance companies have big influence over government.
If you sued them you would have gotten results. You would be amazed how quickly insurance companies fold once a lawyer gets involved. Had an issue a few years ago on a rental property and back mold.. in the end I paid my $500 deductible and the insurance company paid $15k+ for a new roof and mold removal.. legal fees were about $550
+1   

 2 months ago '16        #21
Proveone  topics gone triple plat - Number 1 spot x4
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 Chronos said




You know he cried in the car




Biden got that don't make me take my belt off look.



 2 months ago '09        #22
TheNetworkBlast  topics gone triple plat - Number 1 spot x1
Props total: 12271 12 K  Slaps total: 932 932
 Kooper said
Nah.

Florida has one of the highest public adjuster usages nation wide., plus contractors have dumbass insureds signing a*signment of benefits and jacking up supplemental damage estimates by over 60% in tile roof claims.

Cali, FL and MT have some of the worst statues for replacement for matching on roofs and siding.

You take a 3LF piece of vinyl siding and a contractor will flip that into a $40k siding estimate then place a lien on your home after not telling your insurance company about it or telling the insured that the insurance will cover it just send us the bill.

Fraud rampant af in insurance.

Had a claim today where an agent sent a $33k roofing estimate from a claim with a 2018 date of loss

Obviously insurance companies (my employer) included are in it for a profit, but MFS DONT READ THEIR POLICIES

I work in catastrophe claims and still don’t read my policy, but with me in the industry I know what to look for and what coverage I have.


MFS thinking they have a $500 deductible when they have a 2% wind/hail deductible for $16k on a home with $800k limits.

Read

Brokers are pushing out the cheapest policies with the sh*ttiest coverages to people to get a bigger book of business with the hopes of people not having wind or water losses.

Company I work for also has a model in place for people with high hurricane deductibles where if you experience more than one in a year then the second loss we would apply your cheapest deductible, $500 or $1000 Vs $5000-$17k helps a lot.

We literally have losses that underwriting and our examining partners should review written in our policies to make insureds whole
 Mercury said
I work for an Insurance company and have for the last 12 yrs. Your whole post is 100% facts
it's wild because if you ask me both the insureds and contractors are at fault. i was surprised how much my insurance company told me to pay claims that damages were clearly not caused by a named storm "just cut the check and move on" really fu*ked my head up
+2   

 2 months ago '11        #23
Kooper  topics gone triple plat - Number 1 spot x4
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 TheNetworkBlast said
it's wild because if you ask me both the insureds and contractors are at fault. i was surprised how much my insurance company told me to pay claims that damages were clearly not caused by a named storm "just cut the check and move on" really fu*ked my head up
We did that a year ago when LA had like 3 hurricanes. Increased authority and caps. n*ggas were getting upgraded and metals roofs and we were like fu*k it

They cut all the way down on it now. Most contractors add overhead and profit on rebuild estimates but we don’t allow it on simple re-roof claims anymore.
+1   

 2 months ago '11        #24
Kooper  topics gone triple plat - Number 1 spot x4
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 imthatinfamous said
If you sued them you would have gotten results. You would be amazed how quickly insurance companies fold once a lawyer gets involved. Had an issue a few years ago on a rental property and back mold.. in the end I paid my $500 deductible and the insurance company paid $15k+ for a new roof and mold removal.. legal fees were about $550
This only happens if your insurance company didn’t act in good faith. i.e. an adjuster made a poor decision regarding coverage or delayed your claim.

Some states have state language that says insurance companies have to send follow up emails, within a specific time or simply update dates on reservation of rights letters. An experienced public adjuster or lawyer can spot that easily.

Insurance lawyers are sharks

They know policy and state statutes better than claims managers. They usually tap them on a coverage decision if sh*t get messy in a claim.

 2 months ago '04        #25
chubs189 
Props total: 12514 12 K  Slaps total: 506 506
Yea out here in FL it’s the roofing fraud going on sh*t is crazy. Back in 2018/2019 everyone was getting a new roof. These companies just going home to home communities getting people to sign over the a*signment of benefits to them. Had no lie 10 different companies in a week come ask if I wanted a new roof. When I got my house it was a new roof so mine was only like 2-3 yrs old no damage. Dudes was like it’s not bad but we could still get you a new one maybe different color make it look nicer. I was like nah I’m good. But bunch of neighbors did it. My next door neighbor is actually an insurance adjuster and goes out to actual sites. Dude be telling me crazy stories man.
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