Oh how I hate insurance companies

[Chainfire]

I bought my first house when I was about 25 years old. Since that time I have paid insurance premiums to various companies, roughly 45 years and have never filed an insurance claim. I may be about to drop it.

When I built my house about 20 years ago, I had a 30 year roof installed. My insurance company sent us a note that they will no longer write a policy on a roof that is over 20 years old. My roof is fine, it went through the worst hurricane that this part of Florida had seen in recorded history three years ago without losing a shingle...It is good for another 10 years or more. (Which will probably be longer than I live!!!)

Not only do I have to get a new roof, but they can't tell me what the cost of the new policy will be when it expires in four months, if we do get a new roof....So, I can buy a $20.000.00 new roof that I don't need and then will be stuck with whatever the new policy will cost. It may double or triple? Who knows and who knows about next year? The insurance industry just doesn't want to write in coastal areas. (and I am 60 miles from the coast, but in Florida)

Of course, I went into a slow simmer and started checking out other companies. It appears that no insurance companies in Florida are writing new policies on houses that are over 20 years old! Now I will have to guess but that must be about 80% of the houses in Florida.

I am down to the short rows on my mortgage, and have the money in the bank to pay it off. I think that I will pay off the mortgage and tell the insurance company to go to hell and take my chances. I just can't stand the thought of having to do business in a situation where I have no options, no control and no say. It seems like everywhere we turn the working class people are being put over a barrel.