I just returned from the Florida Keys where the Florida REALTORS® Leadership and Candidates attended the Florida REALTORS® District 4 Conference. Incredible seminars. Informative instructors. Great networking. Beautiful weather….BUT. Don’t you just hate it when everything is great and then you hear the word “but“? So what keeps Margaritaville and the Keys from being perfect? NO insurance – your eyes do not deceive you: NO insurance. I am sure all of us have heard that Citizens Insurance Company is re-examining mitigation and going through the depopulation process of many policies. Insurance affects not only our homes but our clients’ homes and most importantly the future sales of homes in our state.
Most of us are fortunate that we can somehow, someway obtain insurance, but the Florida Keys are unable to get insurance. What? We all think that anyone can get insurance for their homes…..NOT if you live or own in the Florida Keys. Our fellow REALTORS® there have a real concern – a concern that affects them personally and the future of their livelihood. They have lost sales because their clients can not obtain insurance and those who currently have policies will soon not be renewed!
Many people down in the Keys have had to self-insure, but those who carry a mortgage do not have that luxury. Something has to be done…quickly. Best case is a redesign of Citizens. However, take a look at the current U.S. Legislature. They can’t redo the Flood Insurance – all they continue to do is to extend flood coverage for 30, 60 or 90 days. I wouldn’t be expecting any miracles in the Citizens Insurance case.
This is very serious and the clock is ticking – without insurance, REALTORS® can’t sell real estate and if they can’t sell real estate, they can’t make a living. Know that this will affect all of us here in Florida, if something is not done. So where do we go from here? There is a line in the Godfather: We need to go to the Mattresses. To put it more bluntly…We need to go to WAR. We need to pull out the big guns and go to war with Citizens, the legislature and anyone that has anything to do with insurance. Margaritaville and the Keys are in big trouble and it is spreading to all of us, we need to be proactive! Get informed, get involved and when the Florida REALTORS® Action Center asks you to take action and contact your legislators: Just do it!
Here’s some links to information to get you started:
Until next Monday…