Wednesday, April 16, 2008

Well, as you all know Aimee and I have a house in Florida. It's the house my grandparents built in 1960 and I bought it in 2001. We got very lucky as we bought it just BEFORE the big housing boom so we paid next to nothing for it and its value shot up very quickly. When we moved to Arizona we decided to keep it and rent it out mainly because we weren't sure if we'd stay in AZ but also because its a piece of family history. We also didn't think we'd ever be able to buy again on Merritt Island the way the real estate market was going. Anyways, it has been an adventure being a landlord, thank God for my dad who manages it for us, and we have gone through a lot of ups and downs. Well, we have had good tenants for the past two year (finally!) but have never really been able to build up a surplus again like we had the first few years we rented it. I got insanely worried today when I got a voicemail from State Farm telling me they needed to talk to me ASAP about my house in Merritt Island. Yikes! I was really nervous when I called and, thankfully, it wasn't an emergency. Unfortunately, it appears that State Farm is pulling out of Florida altogether and thereby leaving me with no homeowners insurance. I guess it won't happen until November and they told me they are going to help get us a new policy but I'm a little nervous. I have heard nothing but horror stories from friends and families trying to get insurance and, frankly, I always felt secure knowing that State Farm had our back. When the hurricanes rolled through in 2004 they took great care of us and put a new roof on the place for us with absolutely minimal hassle (I MIGHT have even wound up with a few bucks in my pocket after it was all said and done).

Apparently there was a big to do between the Governor and State Farm and he was threatening them in order to keep them from pulling out (that's what she said) but it must not have worked. I guess his threat to banish State Farm auto insurance from the State wasn't enough. There is a bit more info here
but I'm not sure how much most of you care anyway. Wish us luck in the future!


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