>> ALL RIGHT. NOW TO NEWS, 4 JAX I TEAM INVESTIGATION. NEW RULES. IF YOU’VE NOTICED THAT
YOUR HOMEOWNERS INSURANCE
PREMIUMS HAVE SKYROCKETED, YOU
ARE NOT ALONE. FLORIDA IS IN A
PROPERTY INSURANCE CRISIS AND
MANY HOMEOWNERS ARE HIT WITH
AN ULTIMATUM, REPLACE YOUR
ROOF OR LOSE YOUR COVERAGE
COMPLETELY. AND IT COULD COST
YOU THOUSANDS OF DOLLARS OUT
OF POCKET NEWS. 4 JAX. I TEAM
INVESTIGATOR VIC MICOLUCCI
LOOKS AT WHAT IS FUELING THE
RATE HIKES IN NEW REQUIREMENTS
THAT ALL HOMEOWNERS NEED TO
KNOW ABOUT.
>> IT WAS BUILT IN THE 20’S,
DONNIE MAC LOVES HIS 100
YEAR-OLD PROPERTY, AN AVENUE.
IT WAS FELT AS A WELL, THE
FAMILY. SO THERE’S THERE’S 4
UNITS AND AND THIS PARTICULAR
BUILDING, HE DOES NOT LOVE THE
BILLS. MY INSURANCE REACH OUT
TO ME SAID, YOU KNOW, MY RATES
ARE GOING OUT $1500 YEARLY
HIKE. THE REASON IS ROOF IS
MORE THAN 10 YEARS OLD.
>> IT’S A LITTLE SHY OF 20
YEARS OLD. ACTUALLY, IT’S NOT
REALLY NO ISSUES. SO
>> I DON’T SEE WHY HAVE TO
REPLACE
>> IF HE DOESN’T, HIS
INSURANCE COMPANY COULD DROP
HIM AND HE’S NOT ALONE. WHEN I
CALLED OUR AGE AND SHE SAID
GOOD LUCK IN FINDING SOMETHING
COUNTLESS HOMEOWNERS ACROSS
FLORIDA ARE GETTING NOTICES
THAT THEIR INSURANCE IS NOT
BEING RENEWED BECAUSE THEIR
ROOF IS TOO OLD. WE’VE ALWAYS
PAID EVERYTHING ON TIME. WE’VE
NEVER HAD ANY.
>> CLAIMS. THEY ALSO GIVE A
DEADLINE. THEY’RE LIKE, YOU
KNOW, IF YOU DON’T GET YOUR
ROOF SO IN. SO SUCH TIME
FRAME, YOU’RE GOING TO BE
DROPPED.
>> TY CARACAS WITH THE
SOUTHERN COAST ROOFING GETS
THE FRANTIC CALLS EVERY DAY
THEY’RE OBLIGATED TO PUT THAT
REFUND AND WHAT HAPPENS. THEY
GOT TO PAY OUT OF POCKET. THE
COST OF A NEW ROOF DEPENDS ON
THE SIZE OF YOUR HOME, BUT
ROOF QUOTE, CAN RANGE FROM
$3,000 TO $25,000. NATURALLY,
YOU WANT TO BLAME THE
INSURANCE COMPANY, BUT NOT SO
FAST SAYS AGENT DANIEL MILLER.
WE’RE SEEING THAT THE REASON
FOR THE ROOF REPLACEMENT
REQUESTS ARE BECAUSE OF SO
MANY CLAIMS THAT ARE BEING PUT
ON THESE HOMEOWNERS INSURANCE
COMPANIES. MILLER IS CO-OWNER
OF RIGHT WAY. INSURANCE BROKER
THAT SAYS INSURANCE FRAUD IS
WORSE IN FLORIDA THAN ANYWHERE
ELSE.
>> BECAUSE OF A NUMBER OF
PHONY CLAIMS AFTER HURRICANES
AND HAILSTORMS. PLUS LAWSUITS
WHICH CAN COST THE COMPANY 20
TIMES WHAT THE CLAIM IS FOR
MILLER SAYS MANY INSURANCE
COMPANIES HAVE LEFT THE STATE
AND THOSE STILL HERE MUST PASS
COSTS ON TO THE CONSUMERS AND
MAKE NEW RULES. SO THERE ARE
FEWER CLAIMS IN THE FUTURE. WE
ARE SEEING THAT.
>> INSURANCE COMPANIES ARE NOT
TAKING. WE’RE ASKING FOR
GUIDELINES THAT HAVEN’T BEEN
ASKED FOR REFER WILL INSTALL A
ROOF SAYING THAT IT HAS A 30
YEAR SINGLE. BUT THE INSURANCE
COMPANIES ASKING FOR TO BE
REPLACED AND
>> 12 YEARS THERE’S THERE’S A
DISCONNECT THERE. AND IT’S NOT
JUST THE ROOF. MANY COMPANIES
ARE ASKING PEOPLE TO REPLACE
THEIR HOT WATER HEATERS, THEIR
PLUMBING, THEIR ELECTRICAL,
EVEN IF THEY’RE WORKING JUST
FINE, THAT COULD COST YOU EVEN
MORE OUT OF POCKET.
>> INSURERS ARE BLEEDING
EXCESSIVELY AIR IN FLORIDA.
WE’RE PROJECTING AN
UNDERWRITING LOSS IN EXCESS OF
1.6 BILLION DOLLARS.
>> SO 2021 MARK FREELANDER
WITH THE NONPROFIT INSURANCE
INFORMATION INSTITUTE SAYS THE
SUNSHINE STATE AS A PROPERTY
INSURANCE CRISIS LIKE NOWHERE
ELSE. AND THAT IS TRIGGERING A
DOMINO EFFECT WITH PREMIUMS
SKYROCKETING. YOU KNOW, WE’RE
HEARING FROM HOMEOWNERS ACROSS
THE STATE THAT ARE SEEING.
>> 50% INCREASES 100%
INCREASES AND SOME OF THEM
NEVER HAD A CLAIM. FREELANDER
SAYS HOMEOWNERS SHOULD PLAN
FOR A RATE HIKE SHOP AROUND
AND ASK THEIR AGENTS HOW THEY
CAN CUT COSTS. BUT WHAT SHOULD
YOU DO IF YOUR INSURANCE
COMPANY ALL OUT DROPS YEAR?
>> WE TOOK YOUR QUESTIONS TO
FLORIDA’S CHIEF FINANCIAL
OFFICER JIMMY PATRONIS. SO
WHAT DO YOU DO IF THERE’S
SOMEBODY THAT’S HAS DONE
EVERYTHING RIGHT? THEY’RE
STILL GETTING DROPPED AND THEY
DON’T HAVE THE MONEY.
>> FOR THAT TOTAL ROOF
REPLACEMENT, WHERE DO THEY GO?
SO I MEAN, UNFORTUNATELY, ITS
CITIZENS INSURANCE SAYS A
JUROR TO BASED RIGHT HERE IN
DUVAL COUNTY IN JACKSONVILLE
IS THE INSURANCE COMPANY, BOTH
THAT YOU AND I OWN EVERY SAYS
IN THE STATE OWNED. BUT IT’S
THE INSURANCE A LAST RESORT.
DO YOU BELIEVE THAT THE
INSURANCE PROVIDERS ARE
WORKING IN THE PUBLIC’S BEST
INTEREST? YOU THINK THAT
THEY’RE BEING FAIR HERE WITH
THESE RATE HIKES? YOU KNOW, I
THINK THEY’RE TRYING TO
SURVIVE.
>> PETRONAS SAYS HE’S WORKING
WITH LAWMAKERS TO CUT DOWN ON
FRAUD AND BRING MORE BUSINESS
TO THE STATE. EXPERTS SAY TO
KEEP THE SITUATION FROM
GETTING WORSE STAY AWAY FROM
FLY BY NIGHT CONTRACTORS WHO
PROMISED TO MAKE A CLAIM ON
YOUR BEHALF MIGHT COST IS
GOING UP. JOHNNY MACK, WHO’S
IN THE PROPERTY BUSINESS SAYS
HE’S NOW BUDGETING FOR HIGHER
PREMIUMS AND KNOWS A FULL ROOF
REPLACEMENT IS ON THE HORIZON.
IT’S NOT ALL BAD NEWS. THERE
IS SOME RELIEF IN SIGHT. CFO
PATRONIS IS PUSHING A BILL
THAT INCLUDES HOME HARDENING.
>> THAT WOULD MEAN TAX RELIEF
FOR HOMEOWNERS WHO INSTALL
IMPACT RESISTANT DOORS,
WINDOWS AND GARAGES WITH THOSE
UPGRADES INSURANCE COMPANIES
COULD LOWER YOUR PREMIUMS AS
WELL. THE HOME HARDENING
INITIATIVE IS PART OF A TAX
PACKAGE NOW HEADED TO THE FULL
FLORIDA HOUSE FOR A VOTE.
WE’LL KEEP YOU POSTED ON HOW
THAT DEVELOPS. I TEAM