Good question! Hurricanes are precisely the reason your insurance is being subsidized. If you're receiving a subsidy you should at least be required to provide an easement to the beach, which you agree I have a right to use.
owner
of waterfront property has publicly subsidized insurance, as part of the public shouldn't I have the same right to use the beach the
owner
does?
Since these are typically their second or third vacation homes, I've asked them for the key so I could
keep an eye on it
while they're gone. So far, no takers <img src="<>/frown.gif" alt="frown" title="frown" height="15" width="15" />
A question I've asked time and time again...the answer seems to be
because we want to
. But to require taxpayer subsidies to make the insurance
affordable
(to who's standard? The rich folk living there?) for those within 1000 ft of the water?
The reason the windpool and Citizens Ins. exist? No commercial carrier wants it at the rate the State says
should be
. But now even the state admits the rates are
actuarily unsound
and need to be raised.
The reason we have insurance in the first place? We buy (or, rather, finance) things we can't afford to replace. So ultimately it's our fault... If you don't have a mortgage, you don't have to buy property coverage. Warren Buffet (and the lender) laughs all the way to the bank because we want stuff we can't afford.
It's not just the McManssions and it's not just within 1000 ft of the water. If you live in a county that is considered a coastal county the insurance companies treat everyone in that county the same. Even when you are 25 miles from the coast. I could only get hurricane coverage from the state.
this is an argument for your senator or congressman ... but your statement that since you help subsidize.. you should have rights... is pie in the sky.
What defines a
beach
that should have public access? A waterfront home on the ocean, Gulf of Mexico? What about homes on large bays, the great lakes, rivers, small lakes? Tim's house is on a lake, should his backyard be open to public access?
which makes it even more ridiculous. I live in a coastal county, but thankfully only the first 1000' to tidal water is in the wind pool. I believe Hillsborough & Monroe may be entirely within the wind pool, there are probably more...
and my opinion with regard to beachfront homes is that by artificially reducing the true insurance cost, you actually encourage construction in high-hazard zones. But those are the only places people want to live (well, except Timbo), so I guess the state is trying to make oceanfront living
affordable
?
beach
that should have public access?
(I won't mention the name for fear he may appear magically on this thread, but you all know the F16 guy I speak of <img src="<>/crazy.gif" alt="crazy" title="crazy" height="15" width="15" />)
Isn't some form of public access to beaches in NED the law? Why not adopt some form of this guideline?
which makes it even more ridiculous. I live in a coastal county, but thankfully only the first 1000' to tidal water is in the wind pool. I believe Hillsborough & Monroe may be entirely within the wind pool, there are probably more...
and my opinion with regard to beachfront homes is that by artificially reducing the true insurance cost, you actually encourage construction in high-hazard zones. But those are the only places people want to live (well, except Timbo), so I guess the state is trying to make oceanfront living
affordable
?
The state or the lobbies?
beach
that should have public access? A waterfront home on the ocean, Gulf of Mexico? What about homes on large bays, the great lakes, rivers, small lakes? Tim's house is on a lake, should his backyard be open to public access?
Google is your friend, try
littoral zones
, but I don't think there is just one definition.
Regarding Tim, hell yeah his back yard should be open! His tribe will soon be gone and he'll be an empty nester. He should convert his place to a beach club, B&B and offer FREE horse back rides with honky tonk on Saturday night. Kinda like Juana's Pagoda south. But I doubt he even has flood insurance. Water would have to be butt deep in Arcadia for him to see a change in the lake's level.
Pete here's something to consider. Take your house, the chunk of dirt it sits on, and put it on the water. Same everything, but now one property line is on the water. I'd bet your property taxes would triple. Trust me, those folks are paying in more than their share
No they aren't! They never do, that's how they can afford to live Gulf front.
Right..... Keep dreaming Pete.
My dream is a huge bulldozer wiping Sanibel and Estero Islands clean.
If it makes you feel better. I live on the water so thanks for your support.
I don't live on the water so thanks for blocking public access and hogging a national treasure you don't own.
fwiw I think Lido Key got it right for the most part.
http:/
It's a shame Florida isn't more active with this organizatin, we certainly need it.
Other things to consider. Two homes. One on a lake 8 feet above the 100 year high water mark was placed in a flood zone. One house 250 feet from the ocean 15 feet above sea level is not in a flood zone. Truth.
Pete
You can walk,play(but not land a sailboat beacuse of local regs) on any beach anywhere in the state. You just have to get there.
Tell me something I don't know.
Because of
local regs
there are beaches in the state where you can't take a picnic basket, cooler or even a bottle of water.
That's a big dream. Only a small percentage of the population has the brains, work ethic, managerial skills, luck, and resources to buy up that much high dollar property to turn it into a utopian playground.
You don't purchase a multi-million dollar home with your insurance premium savings
I don't have a particular problem with people purchasing multi-million dollar waterfront homes. I don't even have a particular problem with that home restricting my access to a beach (as long as the municipality is smart enough to designate some reasonable amount of public access)
My problem comes when they whine they can't afford the insurance on said home and need artificially reduced rates. Really? You just paid $7M CASH for this house (your second VACATION HOME by the way) and you can't afford a $12,000 wind policy? You gotta have other policyholders subsidize 20% of that? Really?
But, like I said, their property taxes probably level that off. It's financial ju-jitsu. I'd bet that $7m second vacation home coats them at least $30k a year in property taxes, whereas your normal house is a few thousand a year. It ends up in the kitty somewhere along the way.
My problem comes when they whine they can't afford the insurance on said home and need artificially reduced rates. Really? You just paid $7M CASH for this house (your second VACATION HOME by the way) and you can't afford a $12,000 wind policy? You gotta have other policyholders subsidize 20% of that? Really?
Allstate has non-renewed us (for the second time). We should just throw them out for good, make Citizens the go to company, and pay policy holders a dividend.
If gubmint would really get behind public access (I give them a C+), it would go a long way to ending our housing crisis.
30K on 7mil. Way low. I pay 3K on a house that is taxable value of 175,000.
Allstate non renew twice, State farm once. Never had a claim.
Well, at least.....
My house is taxed at a value of around $120k, I pay $830 per year for property taxes. <img src="<>/wink.gif" alt="wink" title="wink" height="15" width="15" />
Yes, the beachfront property pays a lot more in tax dollars (their tax rate, however, is lower), but they are also spent within their own town (municipality)borders only, so their tax dollars pay for landscaping on the roadways, the nice police cars (all 6 of them) and fire trucks (4-5 of them), their city managers 6 figure salary, and special parking areas for town residents only. Oh, they've got a boat storage rack for town residents only, too (sunfish/laser type stuff), but no mast-up storage and NO TRAILER PARKING (you have to use one of their boat launches at $5 per launch)
The rest of us working class
help
are delegated to the county gub-ment.
Maybe I don't get what tax dollars have to do with insurance subsidies, as they don't mix...?
And Citizens is currently so far upside down in terms of ability to pay losses, if it were the go-to carrier you'd be better off paying the loss yourself (which is what you will do eventually anyway)
I believe the meeting today is supposed to remove the 10% rate hike cap on Citizens, which (if approved) would hike premiums next year at least 30% in our area... joy
Oh, and looking at my TRIM notice, my tax rate is close to 13 mils... ouch
Now you're being inappropriate and obviously a troll.
Have all my policies with the same carrier..
Funny thing, the agent noted to me that my boat policy will only kick in when the boat is on the water... The auto and homeowners cover it when its not..
another interesting
quirk
here in my state...it is rare that a carrier would want the home AND auto/boat. Most auto/boat carriers want nothing to do with homeowner policy. The home carriers are undercapitalized and therefore can't take boat/auto in many cases... so you pretty much get screwed out of the
multipolicy discount
some offer.
There was a
race to the bottom
in auto coverage a short time ago, and plenty of SR-22 coverages out there which is why you should really make sure you've got good UM/UIM coverage. FL only requires $10,000/$20,000 liaiblity, which would just about cover a damaged bumper on many cars here.