ABC-7.com News - Homeowner's insurance dropped over cracked window: "CAPE CORAL: A Cape Coral woman received a letter abruptly cancelling her homeowner's insurance because of improper maintenance. The letter referenced a tiny boarded up window that was broken for not even a week. Something similar could just as easily happen to you."
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The owner says a neighbor kid hit the window with a golf ball.
2 comments:
This is the unreported side of the housing crisis in Florida, the homeowner insurance crisis. This particularly affects the coastal areas of Florida, of which Cape Coral is a part. If insurance is available, it is unaffordable, or available through Citizens, the state's insurance company, which is prohibitively expensive.
If this woman has a mortgage on that house, the lender requires that homeowner insurance be carried on the house. If she cannot get it, then she is likely to be foreclosed upon for not meeting the provisions of the lending contract.
There are numerous anecdotes of houses in Florida being sold until the insurance situation is revealed, and then the buyer walks.
Further inland and in inland cities like Orlando, this isn't near the problem that it is on the coasts. I can tell you that these homeowners have a dire problem.
North Carolina has the same problem along the cosatline. There has been battle, after battle over the "forced wind and hail coverage," separate from your homeowners insurance. To most households, this is approximately another $1500.00 per year. In these locales, do the math. In, a given household, say:
County property tax: $1500.00.
If you have been forceably annexed, city tax: $1500.00.
Wind and hail coverage: $1500.00.
(apparently the surplus funds from this collective pool, in place for the last, possibly 7-8 yrs. have disappeared).
HOA/COA dues avg: $1500.00
That is $6000.00 per yr., without now having to pay the "private utility comissions," (water is now a utility,too) in certain areas!
There has been a number of lawsuits filed in Raleigh, over what is going on, and a real estate agen has launched "The Coastal Legislative Caucus." She says, "they cannot seel a property, in given areas and long time locals are being forced out of their homes. I believe it. There are a number who are active in this group and I will pass along this website, as someone has done to inform me, so they can post to you directly.
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