Question : What should be done about the insurance and property tax crises in Florida and other US Gulf Coast states?
All the major insurers are pulling out of the state. Insurance is simply unavailable for many people, even if they are able to pay the exhorbitant prices. The state has become the largest insurer. People are forced in to the state’s high-risk pool which, by law, must charge prices 20% above going prices. When I moved to Florida a few years ago, my insurance bill was $ 700. This year, I consider myself fortunate that the bill for the same house is only $ 2500. The nearest other quote is $ 4500. This is for a modest middle-class home in a no-flood and hurricane non-evacuation zone.

The property tax structure shifts the tax burden to renters and those who have recently moved. The tax bills for two similar homes right next to each other can vary by over $ 1000.

Housing prices have risen so much that the state is considering building subsidized dormitories for teachers because they can’t afford to live here.

How do we fix this?
property insurance quote

Best answer:

Answer by Jill&Justin
I’d love to help. But, I am a teacher and a taxpayer in CT. I can barely pay my ridiculous property tax (which jumped by 75% this past year), or my utility bills (electric rate slated to rise 50% Jan 1) on the salary that was cut due to budget constraints.
We’re all in the same boat-isn’t it crazy this is America.