SANDY HURRICANE TRACK FULL
The company also said, “UPC is in receivership because it did not charge adequate rates and did not purchase a full reinsurance program.” That’s insurance for insurance companies. WINK News reached out to Slide Insurance, asking why the big jump in price.Ī spokesperson responded with some of the same reasons Florida legislators gave in the past two insurance special sessions: frivolous lawsuits, fraud, double-digit increases in home values and building materials, and record rate increases for reinsurance.
“It’s not fair to people that work all their life, fought for their country, living a clean life and not having a problem to anybody and just mind your own business and pay your bills, and it’s just not fair to people like that,” Brown said. That’s much larger than the 9% the rest of the countries homeowners will have to budget. The industry-backed company projects homeowners will see their premiums go up 40% or more. Southwest Floridians have faced this problem for years.Įarlier this year, the Insurance Information Institute released a 2-page document discussing the trends and insights addressing the state’s property insurance crisis. And that’s the last thing on the planet I want to do or ever thought I won’t even have to.” And I mean, I don’t see any other alternative but to sell this house and move out of state. “My house was to leave to my daughters when I die,” he said. (CREDIT: WINK News)īrown said he is probably going to end up selling his home. And if I pay the insurance and my house payment, there’s nothing left for food.” A Bonita Springs veteran is seeing a homeowners insurance price hike after Ian that could leave him without a home. “The insurance payment is going to be more than all my other bills put together. And that’s overall, $600 A month payment,” Brown said. That was fine until the renewal notice came in. And I just feel like I’m really drug over the coals,” Brown said.Īfter UPC went belly up earlier this year, about 90,000 of their policyholders were automatically switched to Slide Insurance, according to the state, including Brown. He’s never filed a claim and said his last premium with UPC was about $1,500. “I think they’re really taken advantage of people and I think it’s criminal.”īrown has lived at his home for 20 years and trusted the property and casualty insurance of UPC to protect it. “I have a small income with retirement,” Brown said. A Bonita Springs veteran is seeing a homeowners insurance price hike after Ian that could leave him without a home. His homeowner’s insurance premium has skyrocketed. Vietnam veteran Richard Brown of Bonita Springs faces immense damage to his livelihood. Now Hurricane Ian could do even more damage to your insurance premiums. One of the most annoying things many of us have endured after Hurricane Ian is looking to slam your wallet once again.įrom lackluster customer service, faulty claims, and not one cent seen by hundreds of people trying to rebuild, homeowners insurance has been everything except a walk in the park.įlorida’s property insurance crisis has always been complex and usually not beneficial to the masses.
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