California E&S Insurance

Lots of older people around me in Florida have dropped their insurance. There's a number of reasons this makes sense in my market: - Few options for insurers on a barrier island.   Florida allows insurers to redline zip codes. - Their cost basis is far below lot value.   Land + Structure is probably only worth 20% more than land alone. - We're 70 miles or so north of the highest latitude recorded major hurricane hit in Florida.   It could happen, but less likely than South Florida or the Gulf Coast. - Elevation is above the flood zone here.  13-14' above.   Not full of tall pine trees either like further north Florida or the Carolinas. - Home insurers require additional costs.  Replacing perfectly good electrical panels or a roof because it's deemed too old.  The state's "insurer or last resort" will only give you one year of coverage and then drop you if the roof isn't replaced if more than 10 years old. I can see a scenario where I drop coverage in a decade.

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