this post was submitted on 23 Oct 2023
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The skyrocketing cost of insurance premiums in Florida is leading residents to drop their insurance, consider selling their home, and even move out of the state, according to recent reports.

For years now, the sunny, vibrant state has been a magnetic destination for many Americans—a phenomenon which has been driving up demand for housing, especially during the pandemic, as well as home prices.

But while Florida was the number one state in the country that people moved to in 2022, it was also the one with the highest number of residents wanting to relocate, according to a SelfStorage.

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[–] MargotRobbie@lemmy.world 40 points 1 year ago (3 children)

Insurance typically works off historical data to evaluate risk from my understanding, and having something as disastrous as the Miami beach condo collapse bodes a bad sign for insurance companies, especially given the terrible and absolutely incompetent rescue effort during the aftermath.

By the way, I'm shocked at how quickly the Miami condo collapse left the news cycle.

[–] Maggoty@lemmy.world 20 points 1 year ago

Iirc Florida passed some kind of law requiring coverage no matter where a structure is. And the only way the companies could make it work was massive premium increases because the places they're being forced to cover literally have to be rebuilt every year. This was after the federal government said it wouldn't offer disaster insurance on those zones anymore.

[–] Uncle_Bagel@midwest.social 15 points 1 year ago (2 children)

To be fair to Florida, that condo was built pre-Andrew and they revised their entire building code after Andrew. There aren't too many large building built pre-Andrew anymore because they were all built as cheap as possible to laundrr drug money.

That being said, there are a million reasons why i would never move to Florida, and the only building codes that can prevent your house getting inundated by flood surge is by putting it on stilts, so no shocker that the premiums are skyrocketing. Same with fire insurance in California right now.

[–] MargotRobbie@lemmy.world 8 points 1 year ago

The building collapse was due to bad building code for sure; however, the apathy that followed the tragedy, both from rescue workers and the public at large, was really disheartening.

[–] Pasta4u@lemmy.world 2 points 1 year ago (2 children)

I'd build a 3d printed house that is on a raised slab in Florida and in Cali. Anything out of wood would be a waste

[–] Maggoty@lemmy.world 7 points 1 year ago (1 children)

In California you'd largely be fine as long as you take care to have land around your house and keep it defensible. A lot of the fires that get into towns are because those recommendations and regulations get ignored in favor of trying to live in a forest as much as possible.

[–] Pasta4u@lemmy.world 1 points 1 year ago (1 children)

You can do everything roght but your neighbors might not. I have family that lost thier home a few years ago in a fire and have moved to San Fran now

[–] Maggoty@lemmy.world 2 points 1 year ago

Absolutely. I meant to convey that. I'm sorry if I was unclear.

[–] Fosheze@lemmy.world 6 points 1 year ago (2 children)

Alternatively just build it dirt cheap and expect to rebuild every year. Disposable housing, the real american way.

[–] buzz86us@lemmy.world 1 points 1 year ago

Why not a boat? Hear of the storm then you just float away

[–] Pasta4u@lemmy.world -1 points 1 year ago

3d printed would likely be cheaper