January 2007 had a new year’s day, but was it meant to shine in our beloved stated of Florida? I think I will stay in Puerto Rico for a few years, find out for your situation

Florida has an increasing insurance bill every year. The only problem is that if you ask the people who just purchased their homes in beautiful Florida, they would ask, “what insurance?”. There are two main reasons that the people in Florida say that.

The first reason is that it is getting next to impossible to even be an insured homeowner in Florida because of the problems that the insurance companies are having with hurricanes in the past few years. Many homeowners find out months later that their insurance company dropped them and did not even notify them. If a Florida homeowner is lucky enough to have insurance, they may find it is going to be an outrageous amount every month climbing from $1,000 to $5,000 per year. Many homes that are on the coast and not close to the middle of the state pay much more.

The other reason that people in Florida may not think they have to pay an insurance bill is because they just sold their home from up north and the house was completely paid off, so they got to keep all of the cash from the home. They came to Florida and purchased a home for $100,000 cash and another $100,000 loan which continues to cause over inflation in Florida. And then they get their tax bill, which will only be $800 - $1,800 a year.

The thing about the tax bill is that many of these people are coming from the northeastern states like Pennsylvania and New York where people paid $2,000 - $5,000 a year in property taxes. So when they get a bill for $800, they don’t care about the insurance bill, because they think they are saving a huge amount of money in the taxes. They do not realize they are actually spending the same amount of money in insurance.

So, until something changes in the real estate taxes or in the insurance section of the state of Florida, the rates will continue to rise. There are too many people moving to Florida that have a lot of money and are not concerned about the prices that they pay, once they get to Florida. The only problem with that is that these people merely think they have money, because they have a check for $150,000 from a house they just sold.

As soon as that money is gone, they seem to disappear as well, making Florida a constantly shifting group of people moving in and out of the state. It would be a good idea to stay away from Florida for a couple more years while the tax and insurance rates get figured out. But, it might be a better idea now to move to Florida and get locked in on the current rates that are available. Otherwise, the rates may go up 5%-50% over the next couple of years. It is really impossible to say what will happen with Florida insurance over the next couple of years. The Florida insurance bill is definitely one of the things that needs to be worked on by the state government.