Progressive begins dropping thousands of insurance policies in Florida
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- Опубликовано: 25 апр 2024
- In the middle of what’s being called a “property insurance crisis” in Florida, several local homeowners said their policies are being dropped by Progressive, one of the biggest property insurance companies in the country.
Life in FL. But even if you have insurance, they still won't pay for your hurricane damage. Insurance companies have a license to steal.
You have to pay attention to the wording in your policy.
I'm moving to South Carolina. I'm done with Florida.
@francismarion6400 it says "we ain't paying for sh*t"
Thank your great governor for this insurance mess.
@@DonP-gf5hn I wouldn't brag about being a democrat, if you are one.
Sur wish DeSantis would stop focusing on the war on woke, and deal with real issues, like insurance, that is causing so much suffering in Florida.
If the house is uninsurable and the taxes are too high, is the property worth anything?
and who will buy it with all those expenses? Who will they sell it to to move out of Florida?
How do you get a mortgage without insuance? Also, failure to maintain insurance is usually an event of default.
The house is not uninsurable. It may be expensive to insure, but that's how it is for some areas in Florida. Usually, you find another insurance company and you'll learn how much you were overpaying the previous company. Had this problem with all state.
They're about to find out . The rich man's game is coming to an end . The insurance companies and corporations are getting swallowed up too . No more " Too big to fail " . It's always been a mathematical fact . You can't have obscene growth and profits forever . Sooner or later , greed prices everyone out of business .
“Who are you going to sell the houses to?!?
Aquaman”
Gypsy roofers have destroyed insurance in Florida. Millions of dollars of roofs replaced just for the simple fact of roofing for profit.
It’s not just in Florida. Same thing happens here in Kansas so I’m sure it happens everywhere. It sucks but if I was an insurance company I would exclude coverage for roofs or water damage because of a negotiated roof. I’m no fan of insurance companies but they can’t pay for new roofs for people all the time and have reasonable prices.
@@Hardworkandrealestateprofitsexcept in Florida, you don’t replace your roof when it needs replacing, you replace it when you’re insurance company tells you!…
@@jtpalooki7757 I understand that. I wasn’t only talking about Florida though.
Lawyers did it. They found a way to sue for a new roof when there was only a couple tiles missing.
They force insurance companies to cover the empty Mcmansions built for foreign investors (criminals mostly) to hide money built on the coast which will have to be rebuilt every few years fro hurricane damage.
So homeowners inside Florida are subsiding the billionaire investment houses.
Let the FREE MARKET DECIDE Florida! Socialism for the rich is what you got!
Don't force insurance to cover houses in Hurricane zones!!
Progressive where they steal from you, then drop you. How much is that CEO making?
Tons
Couple more years my house will be paid off so I'm doing everything I can to make my house safe from all threats as much as possible & then cancel my extortion, I mean insurance company.
I'm in Phoenix, my property insurance is very affordable here.
We had them. After eight years they wanted double from 4,000 dollars to 8,000 !😡 I am now with Citizens.
Did the cost to build your house also double in that amount of time?
And how many times have you claimed?😂
If you have to have flood insurance, hold on you your hat because that program is in danger of being de-funded by the government. The federal government may defund the National Flood Insurance Plan (the "Socialist" government insurance program that allows people to live in flood prone areas). The problem is that all of the other states are complaining that Florida makes far more flood claims on the system than it pays in, and congress is telling FIPA that they have to fix that. Under the leading proposal, flood insurance in Florida will triple. That could be $3000 a year up from $1000 for most costal areas.
Citizens!
He said successful Depopulation in 2024 😳👈🏼
I caught that immediately . They don't even hide it anymore .
Wonder if he was referring to something that went on in 2021 when people started rolling up their sleeves to flex their muscles.
@@rogerbec5766Why not? You can believe literally anything if you require no evidence. Just completely make up your own version of what you think happened. 🤷♂️
Where is Flo and her gang of happy co-workers?
HA...hahaha...right, where are they now?
I want to know where Jake from state farm is
"Flo is laughing all the way to the Bank!"
Not in Flo - rida , that's for sure .
She's in a state not sinking into the gulf of Mexico
It’s not just in Florida we had them in Michigan for years for homeowners insurance and in 2022 our insurance went from $3,000 a year to $7,500!
I'm in Phoenix , my insurance has gone up $112 a year in the past 6 years.
I had auto insurance with progressive. No accidents claims or tickets. They hiked my premium 35%. Sue these vultures anytime you can. Creeps.
So you’re the actual problem. Your insurance went up because the cost of providing insurance went up. So your answer is I want my lawmakers to punish insurance companies. Well this is what happens when the lawmakers do that the insurance company leaves your state and you don’t have any insurance. This is one of the reasons why all these insurance companies are bailing out of Florida
Wait for the next big hurricane season. Citizens won't survive the payouts either. Florida shouldn't feel bad ... its the same in California with the wild fires.
Not nice, but smart move to drop insurance policies in Florida before hurricane season!
The real bad news for Florida is that the federal government may defund the National Flood Insurance Plan (the "Socialist" government insurance program that allows people to live in flood prone areas). The problem is that all of the other states are complaining that Florida makes far more flood claims on the system than it pays in, and congress is telling FIPA that they have to fix that. Under the leading proposal, flood insurance in Florida will triple. That could be $3000 a year up from $1000 for most costal areas.
@shenmisheshou7002 And that's fine, they never should have started Federal flood insurance in the first place. It literally caused people to build where they traditionally wouldn't have.
@@francismarion6400 Actually, the problem was that they had already built, and as is the case with insurance companies in Florida pulling out, had the government not stepped in, all of those properties that had been built before NFIP would have become worthless, which would have been an economic disaster. Congress decided that the NFIP was the lesser of two evils. IF they don't restructure it and congress does not re-fund it in September, hundreds of billions of dollars will disappear from the economy. The outcome here is pretty predictable. The leading proposal will go forward and flood insurance rates in Florida, and all of the gulf coast states will double or triple. The property values will fall until they monthly payments are affordable again, and life will go on. Many hundreds of millions, and possible billions will be lost, and property taxes will have to increase or governments will have to rein in spending, but it will all work out, though no one will walk away from it happy.
@@shenmisheshou7002 No hundreds of billions won't drop out of the economy. Banks will just have to live with the decision and act accordingly for future loans. The NFIP was started for a few Mississippi farm owners. Started by Democrats. And it snowballed to the monstrosity we have now. FEMA doesn't just pay for hurricane damage either and it was already depleted before Ian hit Ft. Myers. That's why they ran out of funds and Florida had to finish paying for it. FEMA needs to go the way of the dodo. Screw the banks.
@@shenmisheshou7002 Smaller government and no handouts, it's the Republican mantra, there is no reason to complain. This is what you wanted.
A bunch of snakes
Progressive tried to double our premium last year and we switched to Citizens. We had great insurance with a little company called ASI. Progressive bought ASI and then the trouble started for us. I believe most of ASI's policies were in Florida, so why did Progressive buy them if they didn't want to do business in Florida? They sell a lot of car insurance here. Perhaps Florida should require companies to sell all lines in Florida or none. Why couldn't they just leave little ASI alone?
@Fl buckeye please listen to the 1:34 mark in video. 😳 successful depopulation by 2024
@@Renee-kk1hf😂😂😂 oh dear, what does that comment mean to you?
@@Cmunic8 especially with MILLIONS OF ILLEGALS flooding into the country
The name of the game with companies like ASI is to enter a space and do better business at a better price than their largest competitors. Once they gain enough of a market share, it forces their big competitors to buy them out.
They also need to be doing lots of refunds also. especially if you never used it. SUCCESSFUL DE POPULATION Hmmmmmmmm???
Refund for what? The policies are not being renewed after the current term expires. As for getting a refund if the insurance was not used ( claim not filed,) do you really understand how insurance works?
@quantumquestions 👁 yes I’m glad you heard that at 1:34 seconds in. Believe your ears.
😂Google what depopulation means in an insurance setting, then slowly remove the foil hat.
Tell the insurance companies that if they want to drop homeowners policies then they can’t insure automobiles either…
Insurance is a total scam in Florida.
Correction: "Insurance is a total scam, period."
No insurance was a total scam on the insurance companies in Florida. That’s why they’re leaving. That’s what happens when lawmakers decide to pander to voters by punishing insurance companies.
Ok. So, why are insurance companies leaving Florida? If insurance companies were scamming homeowners, their profits would be soring and they'd be staying. Dig deeper, I think you know the answer. Hint: Has to do with attorneys and contractors.
The name says Progressive. Lets get rid of it and get TRUMP insurance. That will make us respected finally.
@@mjblue84 - correct...
Who would have guessed that living in a hurricane flood zone was risky huh?
Remember to really focus on what you're needing in your policy .
After a flood ,after a tornado , or before a hurricane or fire is not the time to look for the right policy 😢
All of those midwesterners who fled to Floriduh during the pandemic. Will soon be fleeing back up to the midwest when a cat 4 or 5 hurricane destroy their property, and they have no insurance to cover it. 😂😂😂
Per the report’s I’ve seen most came from New York and California
Right, so many from the cold midwest moved there. I've never even visited Florida, it looks so beautiful and I can see why people want to live there, except for the devastating storms. Corporate investors snagged up those midwest homes for rentals, probably knew they'd be trying to get back and now few options to buy
@@Hardworkandrealestateprofits
New Yorkers have been moving to Florida for decades. That’s why it’s a retirement capital.
Florida is not cheap living anymore. Decades ago people moved to California because it was cheap. But neither one is anymore. People go other places now.
The new "insurance" companies probably will not survive a single hurricane.
My insurance has gone up almost 6k in the last 10 years or so. Its as much as the P&I. More, actually. Im going to pay the house off quickly, carry a small partial policy, and put the rest in a fund I control, and self insure.
I had my first claim in 30 years last year, so I didnt know how it worked. Basically they showed up, didnt question anything I said, and wrote a huge check. They said if I needed more let them know. What would a dishonest person have done with that? I dont like to think about it. But now I know, Im paying for them to pay out to liars, thats part of it.
Thank God I didn't bundle my insurance with them
I can understand why they do not want to insure properties that are 30 feet from the beach, but WE THE PEOPLE who don't pose any risk to them should NOT have to foot the bill for these peoples claims. I should not have to pay more for my insurance because some dude in his mega mansion on the ocean just lost his home from a natural disaster. THAT is the unfair part of insurance.
Yeah, it turns out that insurance companies are limited to which policies they can exclude by state law. And during the previous governor ship in Florida, a lot of homes were built in places that were guaranteed to get hurricane damage. Because Florida is a free state and people should be allowed to build wherever they want, or so he said
My car was stolen at motel.I called progressive to let them know.They cancelled my policy.I only had liability insurance.
If u only had Liability why on earth would you call them? Do u really understand insurance terms?
@@chuck7432 I thought I had to notify the company my car was stolen after it was towed to the motel.I rode in Uber car from my motel.
leaving u out to dry when the crooks wreck.
@@elelectrotech9374 when I go online for insurance.They try to sale me insurance.But when I needed them they cancelled my policy.
@@elelectrotech9374 lol, he never had insurance for theft. he was just giving money to someone and never understood why!
This can easily be fixed. Every Florida resident needs to call their state representative and tell them that the Florida legislature should immediately to pass a law stating that insurance companies who sell car insurance in Florida must offer Homeowners and Wind policies to Florida citizens at market rates or leave the state entirely. Watch how fast insurance companies reverse course. Insurance companies want the easy money with no risk. The Florida legislature, due to lots of money, (aka bribes) from lobbyists, has been far too accommodating to insurance companies at the expense of Florida’s citizens. That needs to change and change now.
Good way to leave yourselves without car insurance as well.
Theyre listening to the forecasters. This year will be supercharged hurricanes and wildfires. The strong el nino will become a strong la nina.
Fk the Insurance companies.
Its a total scam.
Yes, you did that to the insurance companies in Florida. That’s why they’re leaving.
Why would they want to insure homes that people are inflating values of? If anything happened they’d have to pay out ridiculous amounts. You bought a house for 150 K and think it’s worth 400 even though you made no upgrades? With all that equity you don’t need insurance you have plenty to cover cost for your own repairs. Good luck folks.
Our old Insurance Co. wacked our policy just over two years ago; forced to Citizens; one year later wacked by Citizens; forced to the one bidder deal to some other (never heard of) insurer; waiting for hurricane season.
Doesn't stop the nearly Million people a year from moving to the Hurricane State of Florida does it ?
“Depopulation” ????
Google it.
Citizens will be forced to cover them, but probably with better rates.
The governor should step in what is he waiting for
Citizens does not cover hurricane claims
Home values are crashing. Especially condos in Florida.
Thank DeSatan for this. Florida needs a new governor.
If you have recently moved to Florida- Move! Before you lose All your money
Will Florida have so many empty homes WE could house the homeless?
Well, houses, and areas that are constantly hit by hurricanes will certainly become abandoned. Other ones will simply become worth less money.
Not progressive at all.
How can Progressive Insurance get away with doing this?
theyre laughing all the way to the bank, getting free money from people for years
I only buy insurance in hurricane season. They only sell insurance off hurricane season.
Can't banks call in loans if the mortgage holder doesn't have insurance?
The bank will force an insurance on you at a very high price.
During the last recession, no. The banks didn't want any more properties on their balance sheet.
In Florida, they have a state insurance company called citizens. So you can get insurance, but it’s going to be expensive.
1:34 seconds in listening 😳
The irony is that the GOP fought climate change, but 15 years ago, experts predicted that Florida would be the first and the most affected by climate change.
De Santis is too busy playing mini me
Seattle - $650 and auto with 2M umbrella $2200
Insurance companies should be required to invest into decreasing the probability of car thefts/property damage/flood impacts instead of investing in the stock market with the immense profits collected from insurance customers
Ask yourself when was the last time an insurance company installed GPS tracking into cars / bikes to help police track and catch criminal organizations. When was the last time insurance company donated smart fire alarms to houses or bumber covers for iphone owners (you shouldn't be able to claim a broken iPhone if you had a bumber cover)
Flori-duh is the "Stink on the Brink."
Between constant natural disasters, and the increasing reluctance of insurance companies to cover Florida property owners, many people in Florida will be uncovered and financially vulnerable in the next hurricane season. A significant amount of people will be wiped out, and unable to repair or rebuild. A significant part of Florida couldl resemble New Orleans 9th Ward.
If these homeowners don't like it they can band together and make Thier own private insurance companies through consolidation of funds
This is what is keeping me away from buying a house in Florida
That and the 23 million people. The grocery store is a half day event. Driving in ridiculous traffic, trying to find parking, shuffling through the people, & standing in line to check out & then fighting traffic to get back home. No thanks.
Didn't Florida announce that 8 new insurance companies were selling insurance in Florida?
They're only back because they can get super high rates. It's all the same executives from failed companies starting new subsidiaries. Tampa Bay Times just did a article about it. UPC insurance is Coastal Insurance now, same people all making 500k+ a year.
Maybe mortgage insurance…
yes.
thats soooo itty. I mean just so foul. brand loyalty means NOTHING to Progressive. if I were with them I'd drop my policy with them mySELF and find an alternative. I'd dump them before they dump me.
Shocker, these con artists are all pulling the rug out and running.
He said " We're going to have a successful" Depopulation " in 2024 " . He said the market is " healthy " as 100,000 policies were dropped by Progressive . Is anyone listening to , or understanding what's actually taking place on this earth ?
Florida is overcrowded. Plain and simple
Go anti-woke, go Broke. 🤣
The hurricanes factor into the equation , but overvalued homes with underwater mortgagee's that are losing their jobs , and many more about to lose all of their valuable investments and pensions strikes more fear from an unnatural increase that is expected in cases of " Jewish lightning " that's being pre - empted by these cancellations . They know what's coming for sure , that's why this is happening . There's always been hurricanes - that's nothing new . Something else has their attention .
Did he say depopulation in 2024?
Yes, a horrible choice of words
Jabberwocky taking effect
Yes, it means the insurance company is intentionally reducing the amount of people it is covering in the area.
@@pame4345 Or is he just stating the truth about their attempt at fulfilling the mission statement of the Georgia Guide Stones ? He's using the right words , but people have their ears tuned to the wrong frequency . They plan on cancelling a lot more people . I mean insurance policies . This is what they call positioning themselves for " growth " . Increase profits by reducing your customer base . Who's gonna be the last man standing in this business model ? AI robot ?
What is the governor doing about this?
Insurance companies, executives and agents have donated $74 million to Florida politicians since 2019, with Desantis getting $3.3 million and the chief financial officer for the state Jim Patronis (who oversees insurance regulation) has taken nearly $2 million. Insurance industry donors gave $9.9 million to "Friends of Ron Desantis" and the republican party since 2019. I could go on but I think that's a good start.
@@jonnanderson6489 And your house still gets insured for roughly 1% of the value, as always.
Fighting Mickey Mouse.
@@G_Demolished The Mouse is hiding.
❤❤❤
Not a competitive capitalistic insurance industry when citizens insurance is the only insurance company?
Oh, that is exactly how capitalism works. The laws and the environment in Florida said there’s no money to be made. Show capitalism closed up shop and moved their capital to other areas where there was money to be made.
Progressive shady
Progressive is expensive on CAR insurance. They wanted $389.00 per month from me. I have a Driver License since I was 16 years old. I am 68 now. I have USAA and paying $132 per month. I now cannot drive now since I lost my legs. Progressive Insurance is the worst for any kind of Insurance. Who the hell can afford them. I am not shy to discredit them. Their car insurance didn't even have any perks with it either. USAA even had Roadside Assistance as well. GO FIGURE WHO IS GRIFTING WHO HERE!!!! I never had any problems getting my vehicle fixed from a small fender bender either and my policy never increased. USAA is for Veterans and their family members as well.
Why? Are all the houses turning green?
Yep, if they sacrificing animals/humans G-d turning everything Green!!!!
💚
How is this legal? They’re having their cake and eating it too!
How is it legal that you stop doing business in a state where you’re losing money? How is that a question?
These thieves should not be allowed to do this! 😮 these insurance companies have been robbing people for years! By trying to not pay claims and now this! 😢 WTF
In your mind, a thieve is somebody who’s losing so much money doing business that they decide to stop doing business. And you want to force them to stay in business and continue losing money.
How would that even work?
@@neilkurzman4907 I am fairly certain you are too young to understand what is really going on here. Look up the history of insurance! And get back to me😉
Desantis has nothing to do with it. The office of insurance regulation does.
Insurance companies, executives and agents have donated $74 million to Florida politicians since 2019, with Desantis getting $3.3 million and the chief financial officer for the state Jim Patronis (who oversees insurance regulation) has taken nearly $2 million. Insurance industry donors gave $9.9 million to "Friends of Ron Desantis" and the republican party since 2019. I could go on but I think that's a good start.
No worries. Call Ronald DeSantis, he'll save you.
At least Desant stopped that pesky "woke' and banned those pesky books. All he had to do was distract and redirect all that hate and rage.
Hey Progressive 🖕🏻🫵🏻
Yea, it's NOT due to hurricane risk. It's to protect already made PROFIT.
No, it’s not just due to the lawsuit laws in Florida and the roof scandal that went on for over a decade. And still may not be fully resolved.
That is how capitalism works, not making a profit for the stake holders, time to cut losses.
That's your beautiful capitalism lol
It was the Blue States whose lockdowns caused the price of everything to skyrocket. Nothing to do with Capitalism.
Crony capitalism. It needs regulated, but insurance co. corruption is sanctioned by state and fed. gov. It's just criminal corruption, found in any form of gov. run by mankind. Capitalism, with enforced laws/regulations, is still the best system.
I mean self pay is the way. That’s what Rush Limbaugh said. At least for health insurance.
Yes, self-pay will work for some people. Others will just find themselves bankrupt and homeless. Because you never know when disaster strikes and when it does, it’s expensive.
Who would voluntarily live in Florida? Out of all states. No sympathy
Many have lived in florida for years, especially seniors, can't just get up and go..not that easy
You are making a very judgmental comment including all..I lived in florda 5 min from the each for 18 years
people don't call florida paradise for nothing
You do realize that many people live in FL because they were born there, their family is there (children, grandchildren), generations of family, their job and/or business is there. Or they're elderly or have significant health issues that are easier to deal with in a better warmer climate. Get informed.
@Castle743 I hate the fukken Beach and prefer snow-capped mountains. Floriduh ain't no paradise to me
Anyone with a brain. We have CVS where they don't have to lock the shampoo up behind security glass.
@@katiegarland8235 All the stupid fad-chasing people moved to Florida
Why are u ‘Live’ in the dark?
Listen if the CA governor can dictate what fast foods pay the employees then the Governor Can disallow this insurance companies from leaving.
I'm moving to Greenville, SC. I'm done with Florida.
Nice
😂The foil hatters apparently don’t have the inclination to Google what depopulation means in this story.
Stay scared!
PONZI.
Good luck to y’all, please don’t all become climate refugees at once.
(Or we could think about trying to not destroy the planet, but some would rather have oil stock dividends than Florida. So here we are.)
There's nothing wrong with the Capitalism.
There's nothing wrong with the free enterprise.
Or - maybe there is...
I guess it doesn't matter too much considering these houses will be worth $0 soon.
You get what you vote for
Yep, Bidenflation
@@francismarion6400Nope, DeSantification of Florida.
@@G_Demolished Getting rid of groomers made my property value go up!
@@francismarion6400 Florida is groomer central. You’re probably in the club yourself.
@G_Demolished Since Jim Crowe the groomer Democrats been shrinking away here.
They can't keep the TV commercials going if they are paying out on claims.
Insurance is a legalized scam of a casino-type, where the house always wins and you will always lose, enforced by LAW!!
At what point will it enter into your thoughts that they’re losing so much money in Florida they decided not to do business there anymore. I don’t know how you think they make money by dumping 100,000 policies.
@@neilkurzman4907 It's a cash flow thing. If the margins dip below a certain level in a particular sector, divestiture becomes existentially required, or demise is certain.
Get out of Florida while you still can 😂
I wish that the "president" would address this issue. It's going to crush people.
How about that Do-Nothing Governor you got? It's his job not the president's job.
The governor can pass policies and legislation locally here in Florida! So why blame the president? I live in Florida as well.
@@nicolethorpe6498 It's not just happening in Florida, duh!
@@user-kq6sh8tg5f insurance vary from state to state! Duh! So it will have to be local government! Come on you can't be that slow
@@nicolethorpe6498 I guess you don't know what FDR did when our nation was in a great economic crisis, i.e. the emergency measures he took. Have you ever studied history or is fake news your only source of "information"?
The governor of Florida is too busy trying to shut down Disney World, and remove history books from classrooms, rather than run the business of FloriDUH👀
No, Disney started this by putting their stupid Liberal progressive policies and trying to influence public education. They have no business doing so he did exactly what he was supposed to do. You do not know what you’re talking about! Florida is a volatile market just because of where it situated there are too many storms to cover and make money off of
Disney World drama is over, lawsuits dropped in case you didn’t know.
@@raybod1775 the drama won’t be over until DUHsantis is gone.
@@MAgaSUXXFQU!
Disney World is no longer a threat to the public.
If an insurance company in Florida is dropping policies, they shouldn't be able to sell insurance in any other state.
So what you’re saying is all of the other states should be forced to fund the losses in Florida. Let me guess Florida should be allowed to cut insurance rates in half and the other state should be forced to raise their rates for your discount.
Florida needs to solve their own problems.
Ha-ha
And it’s hilarious
Almost like 20+ years of solid republicans rule is a bad idea
You voted for this, quit your crying and deal with the consequences, that whole “personal responsibility thing”
hahahahahahahahahahahahahaha
Thank-you Progressive. No decent Insurance company should be in this terrible state.
my my not very "Progressive" of them
DeSatan's Florida.
We need Biden insurance.
Not the federal government's job. Florida's insurance problem is Desantis' problem.
@jackwilson3121 It's not Florida's job either. Democrats caused the inflation.
@@francismarion6400Covid caused the inflation.