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We're not in a high crime area. Our area doesn't flood and there was no damage to speak of in our area from Hurrican Ian. Our credit score is excellent.
The only thing I can figure is that the insurance company is trying to make up for losses in other areas and other customers by charging US outrageous prices.
Insurance is tightly regulated and often increases come because they had higher claims than they projected. And yes storm damage in the same state will impact your rates. However it is a free market and you can switch as much as you'd like.
OP,
I don't live in FL, but, it looks like they have similar programs for car insurance discounts if you take an online driver safety course. I take a $15 on line course and get a 10% discount on my basic coverage for 3 years. Every 3 years I take a refresher course and the discount is 15%. If you have two individuals driving, both have to take the driver safety course.
Many states offer a discount if you drive under 7500 miles per year. I saved close to 40% on my car insurance - same exact coverage when I retired to DE. Same insurer, just had to let them know I was driving less than 7500 miles per year. They don't volunteer the discount, you have to let them know you now drive less then 7500 miles per year.
So, if either apply check with your current insurance company about these discounts and if they are available with your current insurance company.
OP,
I don't live in FL, but, it looks like they have similar programs for car insurance discounts if you take an online driver safety course. I take a $15 on line course and get a 10% discount on my basic coverage for 3 years. Every 3 years I take a refresher course and the discount is 15%. If you have two individuals driving, both have to take the driver safety course.
Many states offer a discount if you drive under 7500 miles per year. I saved close to 40% on my car insurance - same exact coverage when I retired to DE. Same insurer, just had to let them know I was driving less than 7500 miles per year. They don't volunteer the discount, you have to let them know you now drive less then 7500 miles per year.
So, if either apply check with your current insurance company about these discounts and if they are available with your current insurance company.
It’s very much you paying for the losses in other parts of Florida. If you’re a homeowner, your next annual homeowner’s premium is also probably going to come with a nice hefty surcharge to recapitalize Citizen’s/help prop up the state high risk reinsurance pool like we had for a while following the storms of 2004 and 2005.
True this. Next year's homeowners and flood renewals in Florida are going to be fun. Insurance in Florida is among a resident's highest expense categories and it's rapidly getting worse.
I'd contact your agent to verify everything is correct and that something goofy hasn't occurred like a misassigned claim or other weirdness as the increases seem extremely large.
One should check their CLUE REPORT :
Clue is the equal to the credit reporting agency’s but for insurance .
Every claim on home and auto that isn’t reimbursed to the insurer is logged and dings your score regardless of fault.
You can get a free copy a year ..run home and auto , they are separate .
Plenty of times there can be claim mixups that are not yours.
Many think that claims don’t count against them that are not chargeable and that is incorrect….hit while parked , broken glass claims , storm damage , etc , all affect your clue report .
In fact many properties are flagged in clue as problematic….it is always best when buying a house to have the owner run their clue report
Even insurance company roadside assistance can hurt you if they report to clue.
You can get your report at the legal site lexisnexis.
They have access to your info so in order to get your report they verify it is you with a bunch of questions .
Those questions are multiple choice and already contain the answers gotten from their data base about you so you are not giving out any info
Last edited by mathjak107; 12-06-2022 at 06:51 AM..
Be careful taking the insurance safety classes if you have convictions
Many times insurers don’t see all your convictions unless you give them reason to put you on the radar.
My buddy used to work for an insurer and anytime they got a request for a discount from the classes ,they Pulled a transcript only to find convictions that would have likely gone un noticed
Last edited by mathjak107; 12-06-2022 at 06:58 AM..
States have different laws pertaining to what current insurers can surcharge you for .
Here in New York your present insurer can’t surcharge you for comprehensive claims , but they can drop you .
However comprehensive claims can hurt you though in clue and if you are shopping for insurance they can and likely will hurt you through clue .
Also insurers don’t go by dmv points …
Insurers have their own point system they use .
Here in New York no seat belt most of the time is no points , but in an insurers scoring system it carry’s a lot of points .
Also those safety classes that remove points may not do a thing for your insurance as again , points are an internal dmv scoring system which is used to suspend your license.
These classes remove dmv points , but insurers go by convictions and they are still fully visible on your record .
The classes don’t usually remove anything from what the rest of the world sees .
Just wanted to make sure all here know that , and to check your state laws to see what effect if any convictions have on your driving record outside of the dmv
True this. Next year's homeowners and flood renewals in Florida are going to be fun. Insurance in Florida is among a resident's highest expense categories and it's rapidly getting worse
Yep. I was paying $7,800 for a basic HO-3 policy earlier this year in Miami and am now paying only about 1/4 as much in Savannah. And that doesn't include flood insurance, which was only an additional ~$600 because I wasn't in a flood zone.
Every thing goes up,it costs more to repair/replace your car and home.
Not much you can do,you can get the bare minimum coverage for your cars and take your chances !
if you do not have mortgage on your house,you can try self insurance !
Depend on where you live,I figure those thousand of dollars I paid for home insurance each year ,I could have used it to cover the damage 2 years ago when UNI hit us bad,it is a hassle to work with insurer
We pay 387 a year for apartment insurance for our rental in nyc ….
A decade ago we were paying about 600 on our house in the poconos .
I would think it is double today
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