An Inconvenient Truth

[firstdown]

Originally Posted by Hog1

The remaining companies are making a good run at it. State farm jacked my homeowners by 300%. I'm told that is a good deal in this market. A good deal has a different meaning in my mind. As Matty pointed out, some of this may be driven by fraudulent claims. I understand that............but I am innocent. Why am I paying for it? My original point is this, the health ins system is a BAD system. It works for those collecting the loot. Who's at fault? I don't know

I'd say in FL. fraudulent claims is a small part of the problem its the exposure that is the problem. With what your paying now for Homeowners Ins. the Co. are still and will be in a negative in that area for years and years to come and thats only if FL can go without any more hurricans. Its not that your guilty or innocent you are just paying for the exposure that FL faces. If you owned an insurance co. how much would you charge for a $200,000 dollar home? If its a total loss the Ins Co. could stand to lose Dwelling Cov $200,000, contents 140,000, additional living expenses 12months maybe 4,650 per month X12= 55,800 for a total of $395,800. That does not enclude the cost to house employess etc.. to handle the claims.