[doc30]

So businesses are being hit with bigger rate increases than homeowners and they don't have Citizens as a last resort. That's one way to slow the economy and growth in FL. Price insurance out of the reach of local businesses and drive the businesses out of state.

On a side note, a good friend, who owns his home, decided he wanted property insurance, but only liability. He didn't want storm coverage. Can't get in in FL. You either take the whole package or you go without. It would help the market if people could chose what coverage they wanted.

[wmfights]

"So businesses are being hit with bigger rate increases than homeowners and they don't have Citizens as a last resort."
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In the upper midwest commercial property insurance is also jumping pretty dramatically and this is also a result of the problems in the south. We are down to just a handful of carriers for large residential properties.

[54skylark]

We are having a dickens of a time placing coverage in Fl. A customer of oursis buying a Large building in Tampa Bay- Premium in excess $100,000 and a $300,000 wind storm deductible!

[Dubh_Ghlase]

The impact of this is greater than realized. In my area (central Pasco) I am seeing a lot of single family "starter" homes coming on the market due to the increase in people's mortgage payment. This is because of the insurance price surge, and ARM's (3 and 5 year) expiring. The increase are pricing out lower-middle income families who stretched to get into their houses in the first place. Housing prices are beginning to drop from their highs as people are getting desperate to get out of their financial trap or to lock in their equity gains...

[sandbar]

>>>On a side note, a good friend, who owns his home, decided he wanted property insurance, but only liability. He didn't want storm coverage. Can't get in in FL. You either take the whole package or you go without. It would help the market if people could chose what coverage they wanted.>>>

Your friend could start a faux business (does he have ANYTHING he can come up with to have a home office) and then take out a commercial general liability policy for his premises liability. Just be sure have the commercial policy written on an 'individual' basis with his name as the named insured. The policy shouldn't be more than a few hundred dollars a year. Have him verify with the local agent that 'premises' liability is included.

Homeowners though... the form is not written for just liability. That is the way ISO writes it. Insurance companies cannot just 'come up with' something, there are federal guidelines they have to follow and then if they vary or stray from that, the state insurance commissioner has to approve it.

But that above should have his liability under control for less than a homeowners (with the property included) policy would cost.

[stuartcr]

I'm guessing this will dump on the next gov.