When you meddle in the free market you restrict coverage available and you get higher and higher rates as participants drop out. Rates in FL will be high, you live in a hurricane and tornado prone area! Sinkholes are bad in certain parts of the state. All this has to be paid for. Don’t like it? Don’t live there. FL Dems like nothing better than handing out tax money to subsidize things that people should take care of themselves.
If Sen Smith and Sen Simmons have a solution to lower insurance rates, provide broad coverage, expand capacity, and encourage companies to open closed zip codes then they are being under utilized as politicians.
That’s is thru iam own an insurance agency and is very frustating for me and more for my customer how the insurance company are increasing their premium from 150.00 to 500.00 or more annually.
Frustrating to say the least. Clients getting renewals going up $1000 or more and we council to stay with the quality and coverage over price. Typical renewal of $3600 going to $4800 (coastal county). They shop for better rates and the call center agency down the street offers them Citizens at $2300. You either rewrite it or lose it. All could be solved if Citizens could get rate but we don’t want to lose those votes do we Senators.
Another case of short-sighted politicians. However, if you can count on the federal government to cover your disaster, where is the incentive to price the insurance correctly?
North Carolina is close to following Florida by running the standard markets out of the state. If an insurer does property insurance business in NC, it must participate in the wind pool and is subject to assessments to make up for the lack of adequate reinsurance.
When you meddle in the free market you restrict coverage available and you get higher and higher rates as participants drop out. Rates in FL will be high, you live in a hurricane and tornado prone area! Sinkholes are bad in certain parts of the state. All this has to be paid for. Don’t like it? Don’t live there. FL Dems like nothing better than handing out tax money to subsidize things that people should take care of themselves.
If Sen Smith and Sen Simmons have a solution to lower insurance rates, provide broad coverage, expand capacity, and encourage companies to open closed zip codes then they are being under utilized as politicians.
That’s is thru iam own an insurance agency and is very frustating for me and more for my customer how the insurance company are increasing their premium from 150.00 to 500.00 or more annually.
Frustrating to say the least. Clients getting renewals going up $1000 or more and we council to stay with the quality and coverage over price. Typical renewal of $3600 going to $4800 (coastal county). They shop for better rates and the call center agency down the street offers them Citizens at $2300. You either rewrite it or lose it. All could be solved if Citizens could get rate but we don’t want to lose those votes do we Senators.
Another case of short-sighted politicians. However, if you can count on the federal government to cover your disaster, where is the incentive to price the insurance correctly?
North Carolina is close to following Florida by running the standard markets out of the state. If an insurer does property insurance business in NC, it must participate in the wind pool and is subject to assessments to make up for the lack of adequate reinsurance.