I am very upset with the state of Florida for the mishandling of the homeowners insurance industry. I have been a State Farm policyholder for 26 years, my rates are very reasonable, and now I will be forced to look elsewhere.
I have already been advised by Metropolitan and Liberty Mutual that they will not insure my home at all. I will likely pay the small balance of my mortgage and go without insurance, even though I can't afford to replace my home in the event of loss. My rate with State Farm would have increased only about 10 percent, since I am in a low-risk area east of I-75. I understand that homeowners on the coast could have faced 90 percent increases. It is their choice to live on the water, and I don't want to subsidize them.
If I paid a 10 percent increase, my premium still would have been about half of what I will now have to pay if I can even find insurance. It seems that this issue has been handled with the expectation of political benefit. I think Gov. Charlie Crist will be surprised by the political results.
I personally will never vote again for anyone associated with this insurance regulation debacle. I presume that there are about 900,000 other State Farm policyholders who will do likewise. If we thought their rates were too high, then we could choose to look elsewhere. What happened to free-market ideology?
MATTHEW BARTA
Brandon
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