[WagonFan]

Originally Posted by cobramite

Sounds like you are paying a tad over 200/month for your policy. That is certainly affordable. Doesn't sound like this state wide crisis has made to your area either.

Maybe you misread. The 2.8k/year or > 200/month was the increase from 2021 to 2023.

[X3_Alaska]

I have a lot of extended family in Pensacola and this is effecting them too.
https://www.insurancebusinessmag.com...ld-467204.aspx

[X6ix GTA]

Originally Posted by cobramite

^^^^^Progressive Ins. We are in a high rise condo so what we pay will be different per square than a traditional home of similar square footage.
Homes in this area are selling for 200% to 300% of what they did a few years ago.
This so called "insurance crisis" that is chasing people out of Florida in wholesale fashion doesn't appear to have effected home values. The price inflation exists on the SE Florida region also.
Sounds like you are paying a tad over 200/month for your policy. That is certainly affordable. Doesn't sound like this state wide crisis has made to your area either.

In my profession, I've covered the insurance sector for past over 5 year both in corporate lending and risk management capacity. Several insurers have stopped underwriting new policies for Florida, California and also Alberta in Canada. Most of it is driven by higher cat losses and then there is some political angle where govt tries to regulate rate increases.

There is an ongoing insurance crisis in Florida. This statement is not based on reading a few articles rather the regular conversations we have with our clients (insurers). It comes down to their bottom lines and business decisions.


You are also mixing housing prices with insurance rates. The 200-300% increase in housing prices you have quoted has happened starting 2020 when wfh became prevalent and folks from more expensive places NY/Cali started to relocate. There are other factors too but main reason is the change in work arrangements post COVID

Now as for the insurance rates Florida certainly has higher insurance rates. I think you mentioned you pay around $1500/year. You probably think it's a reasonable rate. In Toronto folks pay between $600-$1000 for condos priced between $1m-2m. $200/month for a house is also comparitively higher. The only reason I mentioned rates is because paying $600 a year vs $1500 a year is not going to deter someone (affluent) from buying a million dollar condo. Insurance crisis is impacting average folks not the affluent folks hence you are not convinced or aware that there is a crisis.

I live in Toronto and many of us have the blessing of living in multimillion houses but I'm not denying we have a housing crisis. I don't need to live in Toronto to know we have a crisis. It's a known fact.

I do enjoy reading your posts as you do bring wealth of experience and knowledge.

Merry Christmas and happy holidays everyone 🎄

P.S apologies to the OP for going off topic and rest of the folks for rehashing most of what is already general knowledge.

[davchr]

Originally Posted by crackerjack15

It's all relative. 135 to me is slow. X7 m60i shuts down the fun at 155. However my twin turbo ~1200hp(1k whp) mustang has no limiter. Top of 5th gear is 185. And it doesn't take long to get there.

My 50e has the 20" wheels which is what I wanted. But it lowers the top speed. Like other bmw's, if you spec the 21" staggered summer tires on the 50e, does is raise top speed to 155?

Wheel size is NOT going to change your top speed. The TIRE outer diameter will. The recommended tire diameter for BMW 20" and 21" wheels is nominally the same - 29.8". Mess with the tire OD and your speedometer will be wrong. If top speed is important, why are you buying a SUV? A 6000lb SUV with a high CG none the less?

[TurtleBoy]

Originally Posted by davchr

Wheel size is NOT going to change your top speed. The TIRE outer diameter will. The recommended tire diameter for BMW 20" and 21" wheels is nominally the same - 29.8". Mess with the tire OD and your speedometer will be wrong. If top speed is important, why are you buying a SUV? A 6000lb SUV with a high CG none the less?

The OP is referring to the speed limiter which is in place with the 20's.

[roamio]

Generally speed limit has nothing to do with size of wheel. It's all about speed rating of tire installed. Normally 20" tires on X5 are "H" rated (130mph top speed). BMW will never allow speed limiter to be above tire rating.

Some examples of tire ratings:
H - 130 mph
V - 149 mph
W - 168 mph
Y - 186 mph