I'm not just talking about Katrina 2005 Katrina (LA AL FL) 2005 4 190,000,000,000 Dennis (FL) 2005 4 9,000,000,000 2004 Charley (SW FL) 2004 4 15,000,000,000 Ivan (AL/NW FL) 2004 3 14,200,000,000 Frances (FL) 2004 2 8,900,000,000 Jeanne (FL) 2004 3 6,900,000,000 2003 Isabel (Mid-Atlantic) 2003 2 3,370,000,000 2002 Lili (SC LA) 2002 1 860,000,000 Totals from the major Hurricanes alone... 2002 Total 1.9b 2003 Total 3.4b 2004 Total 45b 2005 thus far 200b
But surely the reinsurers will be passing on their extra costs to insurance companies which will pass it onto the consumer.
On another website, quite a few people recently mentioned that their insurers are now running credit checks on them. After years with these very same insurers, it appears they are looking for any reason to jack rates.
homeowner rates have skyrocketed 3 years straight. last year state farm rasised me 12% and the year before 10%. on the coast of fla rates have doubled the last 2 years
This worries me... I'm in Real Estate and my company holds a shitload of land in Florida. Florida's population is expected to boom but that might change if homeowners' insurance skyrockets for Hurricane prone areas. Something I suggested to my superiors.
Charley, Ivan, Frances and Jeanne most inland areas were not effected much. everything was back to normal within a week, the only problem was picking up the debris on the roadways and the Oak trees that fell upon some homes. Other than that; damage to homes in the inland areas were at a minimum.