Dean Ferry

I feel your guys pain, we have (2) H2O Front properties on Merritt Island, one of them is with Citizens!
Dean

bob

I am getting dropped by Citizens This should be interesting.

CigDaze

I'm with First Protective, Mine went up about 80% this year.
It's the same story I hear from everyone. Basturds!.

otis311

I am in the process of buying 2 waterfront homes in Pompano Beach. I need to know who I should contact to get these places insured with the proper coverage at a decent price ??

Dean Ferry

Otis311,
I don't know anybody down there to recommend, BUT I will recommend that you look into the howmowners insurance, ASAP, because it could be big $$. Our rental that is on the water, is covered under Citizens, because no one else will insure it!!!!
Good luck,
Dean

otis311

Dean, Big $$ as in $10k.. or big as in $3K ?? I have no idea as in what to expect. house is valued at close to $700K

bob

Check out Coral Ins Co in Hollwood....954-322-4060. I heard some legislation was passed last week that is supposed to roll prices back?

Dean Ferry

Otis,
Our rental is valued @ ~450,000, and it's $3900, BUT the problem is it varies some much from ins. co. to location of the property. Plus if you are going to rent/lease your property, that will make it harder to get homeowners ins too!
The State of Florida citizens need to insure ourselves!
Dean

Dean Ferry

Bob,
All the agents are saying, " Don't hold your breath, waiting for this new legislation to bring down your premiums anytime soon! These things take time!" This was in the local paper this morning!



Regulators start Fla. insurance hearings

TALLAHASSEE -- State insurance regulators this morning start three days of hearings into a Florida insurance company's demanded rate hike.

HomeWise Insurance Co. seeks approval of a 75.8 percent hike it has already begun charging customers, but was turned down earlier this year by the Office of Insurance Regulation. The company opted to take its case to a state arbitration panel, which will begin hearings on the appeal today at a state office building in Tallahassee.

Most of the company's customers come from Citizens Property Insurance -- prompting loud complaints in South Florida when those customers found their home premiums nearly doubled with the new insurer.

OIR Commissioner Kevin McCarty ruled that they and policyholders of another takeout insurer, Florida Peninsula, could return to Citizens if they wished, because both companies were charging rates that had not yet been approved.

New insurance laws signed by Gov. Charlie Crist last week temporarily end insurers' ability to appeal rate cases before arbitration panels, and also prevent Citizens customers from being involuntarily removed from the public insurance pool.

However, the state has three arbitration cases in the pipeline -- for HomeWise, Metropolitan Life, and Nationwide.


See the insurance companies are still fighting for more money!



Dean

BGIII

iTrader: (3)

This is who I use. I am within 1 mile of saltwater and so far, so good.

Agent: Katrina Nuckoles
Lumbra, Robinson & Associates
498 S. Lake Destiny Rd. Orlando , FL 32810
Telephone: 407 838-3445
Fax: 407 838-3460