When they tell you that “if you are going to ride out the storm make sure you write your name on your arm so they can identify you”
That’s scary.
This one looks like the real deal.
I have friends in the Ft Meyers area that have been hit 2 in the last couple years and looks like they will be getting hit again.
I have a friend who has dual residency in MN and FL. They have a place in the Naples area and had to basically rip everything out after Ian and rebuild the inside of their home. Latest track puts the worst part a bit north but they will still be impacted. He and his wife are also licensed realtors in both states. What a nightmare it’s become down there for property and insurance.
I also know someone who has dual residencies and was down there trying to deal with the damage from the last one and was told to evacuate on Monday. This is why places like that are nice to visit but would never want to live there.
This is why places like that are nice to visit but would never want to live there.
Agreed
They will rebuild and another one will wipe it out all over again. And people will be surprised by another Cat 4 hurricane. 
They have done model runs over the years of where the worst possible major hurricane could hit and this is the exact path its going on. Prayers to all!
if folks in the danger zones stay, then they are on their own imo… if they then ask for help they are purposely endangering rescue crews… they’ve had DAYS to get the F out of there…
Not sure how Florida survives after this economically…What insurance company in their right mind would still offer plans for Florida residents, at least to those within X range of a coastline…
What insurance company in their right mind would still offer plans for Florida residents, at least to those within X range of a coastline…
I saw a thing on 60 minutes a couple weeks ago about this very subject. Many large insurance companies have left the state (and other high risk states) because of the cost after a hurricane or wildfire comes through. So a bunch of smaller insurance companies have come in and taken up that business. The problem is that these smaller companies don’t have the capital to cover catastrophic home loss, so they refuse to pay. And then it gets tied up in court for years. Meanwhile, the home owners see another one coming across the Gulf…
Simply become a rich boys paradise. They’ll be able to pay the premiums and will build back to more secluded properties buying up those that can’t. Where there is catastrophe there is is opportunity, if you ya got the dough!
Until government gets involved, mandates companies to insure or bails em out, than it’s just a rinse and repeat for the next.
Prayers to the best outcome of safety for everyone.
Simply become a rich boys paradise. They’ll be able to pay the premiums and will build back to more secluded properties buying up those that can’t. Where there is catastrophe there is is opportunity, if you ya got the dough!
Until government gets involved, mandates companies to insure or bails em out, than it’s just a rinse and repeat for the next.
Prayers to the best outcome of safety for everyone.
maybe, but it’s a losing strategy, especially with the increased storm frequency & power now…
Question… Do you have to have insurance if you own your home out-right? In the upper midwest, besides the random hail on the roof or the very small chance of a tornado. Im guessing one would be better off not having insurance and investing their premium money in the market.
Just a thought, I honestly dont know the answer
My dad has a home right on one of the canals in Cape Coral. About 6 ft above sea level. They had water lapping at the door during last year’s hurricane. Being they are on the potential windward side of the path I’m not expecting good news from them. They’re now hunkered down in Alabama waiting.
There has been news stories suggesting the Florida insurance companies are on the brink of collapse, causing an insurance crisis. Many have left or went bankrupt. I’m going to guess this will cause the crash and collapse, leaving millions without insurance.
Question… Do you have to have insurance if you own your home out-right?
There are many people on the news that have loans without insurance.
On another note, Mpl Pug packed up yesterday. With Milton tracking further South, it’s going to put the eye right over his dog house.
Pug.jpg
I do not know of any legislation stating you have to have homeowners insurance for property you own outright.
You are gambling with what is generally most people’s biggest asset though if you opt to not have it.
Florida is the state most prepared for something like this. I read this morning that there are hundreds of electrical linemen that Trump is boarding in a Miami hotel of his in advance to have a quick response. Smart thinking. I know this kind of thing happens all the time.
Some people claim they can’t afford it. I don’t really buy that. Living in a lavish coastal home and you can’t afford the insurance? That’s like buying a ferrari and then claiming you can’t afford the auto insurance…
I’m supposed to go to Orlando on Sunday afternoon for Fabtech. Currently the show is still on, but we’ll see if I can even fly into MCO.
how does someone take a loan out and the loan place not force them to take Ins out to protect the loan form at least getting paid off.
every loan i ever took out……..i was REQUIRED to have ins on said loan?????????
I think the only situation you would be allowed to not have insurance is if you owned the home outright. Otherwise no bank in the world would allow you to not have insurance they would be out tons of money potentially.
Question… Do you have to have insurance if you own your home out-right? In the upper midwest, besides the random hail on the roof or the very small chance of a tornado. Im guessing one would be better off not having insurance and investing their premium money in the market.
Just a thought, I honestly dont know the answer
If you own your home and don’t have any loans against it, No insurance is required. More and more people are self insuring. For those without a big loss it may work out OK. For those who have a big loss – Ouch. You are talking about a lot of peoples biggest asset you are putting at risk. In my business I see far to many large loss’s for me to ever risk it. I have customers who could pay their current premiums for 100 years and the company will never get back what they paid out in claims. Far to many people these days who have collected more on insurance than they have ever or will ever pay in premiums. Lots of changes coming to the insurance world. As far as what happens when most major companies stop doing business in states, often the only choice is State Pool insurance run by the government ( Much like Flood insurance ) You want no part of that. Its rather expensive and covers almost nothing.
I know of no banks that will carry a loan on a home without insurance. If they don’t receive proof of insurance they will force a policy on the loan. They also don’t worry about the cost of the insurance they purchase, so it doesn’t end well for the mortgagee.
My daughter is in her first year at University of Tampa. My wife and other daughter went to visit her on Friday. They started paying attention to this on Saturday and changing their plans. My daughter had to evacuate their dorm the first one and now again for this one. She stayed with my niece the last one but we booked her a flight home for this one. One daughter left Tampa Monday night at 5. My wife and other daughter drove to Orlando Monday to catch their flight for Tuesday morning (630 am). The 90 mile drive took over 5 hrs. There wasn’t gas anywhere along the way. They were very freaked out until they got in the air Tuesday morning. Glad they are all home safe now.
I also know someone who has dual residencies and was down there trying to deal with the damage from the last one and was told to evacuate on Monday. This is why places like that are nice to visit but would never want to live there.
Ditto. Know someone with a place in Cape Coral who dealt with moderate damage after Ian a couple years ago. They’ve been questioning owning a place there lately and this may be the last straw.
Used to think it would be nice to have a place there for retirement. I’ve given up on that thought.
My Mom and two sisters live in Sarasota. Since they are several miles inland they are not on the mandatory evac list. Im worried about them but they have all been through many hurricanes.
I have customers who could pay their current premiums for 100 years and the company will never get back what they paid out in claims. Far to many people these days who have collected more on insurance than they have ever or will ever pay in premiums.
Wow, I need to start making more claims if that’s the case
We know that area gets hit with a few hurricanes every year, but I heard something the other day that was awful daunting and ominous. Can’t remember what entity it was, but they said something to the effect of “we know a lot of you have stayed home and not evacuated the last several hurricanes and made it through. We highly recommend that you evacuate this time.”
Made it seem like the real deal.
Wow, I need to start making more claims if that’s the case
2500/yr for 100 years is only $250,000. Just let your house burn down with everything in it and you’ll come out way ahead on premiums 
My Uncle lives in Cape Coral, retired down there about 6 years ago, this will be their 3rd major hurricane. Brutal. Thankfully they have come out relatively ok on the previous 2, emphasis on relatively in comparison to their neighbors.
To summarize insurance down there, it’s crazy expensive and doesn’t cover much. A friend in a different part of Florida bought a $300k house and paid over $10k a year in insurance for a high deductible plan with a ton of exclusions.
Prayers for everyone down there. The last few weeks have seen too many lives and propertys devastated.
I am amazed how many goofballs are saying this is all a conspiracy and these are planned weather attacks (seeding, etc.) on red states to sway the elections. Sad to say the least.
i’m watching a couple of youtube live feeds and its sucks that Florida is currently getting hit with several tornados popping up ahead of the Hurricane, double-whammy…The good thing is that most of the Tornado track areas aren’t very populated…
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