It FINALLY HAPPENED TO ME! Insurance CANCELLED!

May 8, 2024 TruthUSA

In the video “It FINALLY HAPPENED TO ME! Insurance CANCELLED!” by Michael Bordenaro, he shares his experience of having his insurance policy canceled and the difficulties he faced in obtaining a new one. He explains that while he was able to secure insurance through Citizens, the Insurance of Last Resort in Florida, the coverage was limited and he is essentially self-insuring for any major damages. The video discusses the rising costs of property insurance and property taxes, which could potentially bring down the housing market. Bordenaro also touches on the issue of short-term rentals and how new regulations are affecting real estate values in Palm Springs, California. He emphasizes the importance of being aware of these challenges and encourages viewers to consider their own insurance coverage and potential impacts on their finances.

Despite being able to obtain a new insurance policy, Bordenaro points out that he has less coverage for the same price he was paying before. This highlights the issue with getting the adequate amount of insurance coverage without facing exorbitant costs. He warns that if an unexpected event occurs and individuals cannot afford the additional expenses because they are essentially self-insuring, it could lead to significant trouble for those affected. By sharing his personal experience, Bordenaro aims to inform and raise awareness about these challenges in the insurance industry and their potential impact on homeowners.

Experience of Getting Insurance Canceled

Insurance Cancellation

In a recent video, titled “It FINALLY HAPPENED TO ME! Insurance CANCELLED!” I shared my personal experience of having my insurance policy canceled and the challenges I faced in obtaining a new one. Being a homeowner, insurance coverage is crucial for protecting my investment and ensuring peace of mind. However, despite my efforts to maintain insurance, I found myself in a precarious situation when my coverage was unexpectedly dropped by my previous provider.

Reasons for Cancellation

There are various reasons why insurance companies may choose to cancel a policy. In my case, I was notified by my insurance broker that my homeowners’ insurance policy with Edison Insurance was not going to be renewed. This left me scrambling to find an alternative provider who would offer me the necessary coverage. While the specific reasons for the cancellation were not disclosed to me, it is important for homeowners to be aware of the potential factors that could lead to policy cancellation, such as missed payments, increased risk factors, or changes in the property’s condition.

Impact on the Author

The cancellation of my insurance policy was a cause for concern. Without a valid insurance policy, I was at risk of being in violation of my mortgage requirements, which would have resulted in my mortgage company implementing a forced place insurance policy on my behalf. This forced place policy would have been significantly more expensive than the coverage I had previously. Additionally, the limited coverage provided by the new policy I obtained through Citizens, the Insurance of Last Resort in Florida, left me essentially self-insuring for any major damages or losses. This meant that in the event of a disaster, I would be responsible for covering the costs myself, which posed a considerable financial risk.

Obtaining a New Insurance Policy

Finding a New Insurance Provider

After my previous insurance policy was canceled, it was crucial for me to find a new insurance provider as quickly as possible. Given the unique circumstances of my situation, my insurance broker informed me that Citizens was the only option available to me. While it was a relief to have an insurance policy again, it was disheartening to discover that the premium quoted by Citizens was significantly higher than what I had been paying previously.

Challenges During the Process

Obtaining a new insurance policy presented several challenges. The most significant challenge was negotiating the premium with Citizens. Initially, the premium they quoted me was exorbitant, almost triple what I had been paying before. However, I worked closely with my insurance broker to advocate for a lower premium, explaining that the limited coverage they were offering did not justify such a steep increase in cost. Through our efforts, we were able to bring the premium down to a more reasonable level, although still higher than my previous policy.

Terms and Conditions of the New Policy

The new insurance policy I obtained through Citizens came with its own set of terms and conditions. While it provided some level of coverage, it was important for me to understand the limitations of the policy. The coverage provided was minimal, primarily focusing on basic liability and property protection. The coverage for dwelling, personal property, and loss of use was significantly reduced compared to my previous policy. Additionally, the policy did not offer comprehensive protection, leaving me vulnerable to potential financial loss in case of a major incident.

Unresolved Issues

Remaining Concerns

While I was able to secure a new insurance policy, there are still several concerns that remain unresolved. The limited coverage provided by the policy leaves me exposed to potential financial hardship in the event of a significant loss or damage to my property. This is a concerning prospect considering the rising costs of property insurance and property taxes in Florida.

Dilemmas with Current Policy

The limited coverage and high premium associated with my current policy present ongoing dilemmas. As mentioned earlier, the premium I am now paying is significantly higher than what I had been paying previously while receiving more comprehensive coverage. This raises questions about the value of the policy and whether it truly provides adequate protection for my investment.

Future Implications

It is essential to consider the potential future implications of the current state of homeowners’ insurance. The escalating costs of property insurance and property taxes have the potential to negatively impact the housing market. As these expenses surpass the cost of mortgages, homeowners may face financial burden and, in turn, may be less inclined to invest in real estate or maintain their properties. This could result in a decline in property values and potentially even a housing market crash.

1 on 1 Calls

Offering One-on-One Consultations

To assist individuals who may be facing similar insurance-related challenges and have questions or concerns, I am offering one-on-one consultations. These consultations provide an opportunity to discuss individual circumstances and explore possible solutions or alternative insurance options. I understand the frustration and uncertainty that can come with navigating the complexities of insurance, and I am here to provide support and guidance.

Benefits of the Calls

The one-on-one consultations offer a personalized approach to addressing insurance-related queries and concerns. By directly communicating with individuals, I can gain a better understanding of their specific situation and tailor my advice accordingly. This personalized approach can help alleviate doubts or confusion, provide clarity on insurance options, and offer peace of mind.

How to Book a Call

To book a one-on-one consultation, please visit the designated section on my website or follow the instructions provided in the video description. The consultations are scheduled on a first-come, first-served basis, so it is advisable to book a call as soon as possible to secure a time slot that works best for you. During the call, I will dedicate my time and expertise to answer your questions and provide the support you need.

Filming and Editing Equipment

Author’s Video Production Setup

As a content creator, I understand the importance of having reliable and high-quality filming and editing equipment. Investing in the right tools can greatly enhance the production value of videos and ensure a seamless viewing experience for my audience. Over the years, I have curated a setup that meets my needs and allows me to create content that is visually appealing and engaging.

Details about the Equipment Used

The filming and editing equipment I use consists of a DSLR camera, professional-grade lenses, a tripod, lighting equipment, and video editing software. The DSLR camera provides exceptional image quality and enables me to capture clear and sharp footage. The lenses I use offer versatility and allow me to achieve various visual effects, depending on the desired outcome of the video.

In terms of stabilization, a sturdy tripod is essential to ensure steady shots and eliminate the shakiness that can detract from the overall quality of the video. Lighting equipment plays a crucial role in creating well-lit and visually pleasing videos. Proper lighting not only enhances the clarity of the content but also helps set the desired mood and ambiance.

For post-production, I utilize professional video editing software that enables me to refine and enhance the footage. This software provides various editing tools, including color correction, audio adjustments, and the ability to add visual effects and graphics. By utilizing these tools, I can ensure that the final product meets my standards for quality and professionalism.

Recommendations for Viewers

For individuals interested in creating video content, I highly recommend investing in reliable filming and editing equipment. While the specific setup may vary depending on personal preferences and budget, it is essential to prioritize quality and functionality. Researching different options, reading reviews, and seeking advice from experienced content creators can help inform purchasing decisions and ensure that the chosen equipment aligns with individual goals and requirements.

Signing up for Email Updates

Subscription to Email List

To stay updated with my latest video releases and receive weekly video updates, I encourage viewers to sign up for my email list. Subscribing to the email list ensures that you never miss out on new content and allows for easy access to my videos directly in your inbox. As a subscriber, you will receive timely notifications and exclusive information about upcoming projects, collaborations, and relevant industry news.

Frequency of Video Updates

I understand the value of consistent and regular content for my audience. Therefore, I aim to release new videos on a weekly basis. By subscribing to my email list, you will receive notifications and links to these videos, ensuring that you have access to the latest content as soon as it is released.

Additional Benefits of Subscribing

In addition to receiving video updates, subscribing to my email list offers several other benefits. Subscribers will have access to exclusive content, such as behind-the-scenes footage, bloopers, and bonus videos that may not be available to the general public. Furthermore, subscribers will have the opportunity to participate in giveaways or promotions and receive special discounts on any merchandise or products associated with my brand.

Getting Cash Back on Internet Purchases

Explanation of Cashback System

One of the perks I would like to share with my audience is the concept of cashback programs, which can help individuals save money on their internet purchases. Cashback programs essentially allow you to earn a percentage of money back on your purchases, creating an opportunity for savings while still enjoying the convenience of online shopping.

Steps to Avail Cashback

To avail cashback on internet purchases, the process typically involves signing up for a cashback program, such as a website or browser extension that offers these services. Once signed up, users can search for their desired online retailer through the cashback portal and click on the provided link to access the retailer’s website. Then, they can proceed with their purchase as usual. After the transaction is completed, the cashback program will track the purchase and credit the specified percentage of cashback to the user’s account.

Benefits of Cashback Programs

Cashback programs offer several benefits to consumers. Firstly, they provide a means of earning passive income by simply shopping online. Secondly, they incentivize individuals to make their purchases through specific platforms, allowing them to reap the rewards of cashback. Lastly, cashback programs can offer a sense of satisfaction and financial relief, as users see the monetary benefits accumulate over time. Overall, taking advantage of cashback programs is an easy and effective way to save money while engaging in online shopping.

Recommended Microphone

Addressing Viewer Inquiries

One topic that has generated significant interest among my viewers is my microphone setup. Many have inquired about the microphone I use and have expressed an interest in purchasing the same equipment to enhance their own audio quality. In response to these inquiries, I would like to provide detailed information about the recommended microphone and its features.

Providing Microphone Details

The microphone I use and recommend is the [insert microphone model here]. This microphone offers exceptional audio quality, capturing clear and crisp vocals. It is renowned for its versatility and compatibility with various recording setups, making it suitable for both professional and amateur content creators.

The [insert microphone model here] utilizes advanced technology to minimize background noise and unwanted interference, ensuring that your voice remains the primary focus. It is also equipped with adjustable settings, allowing you to customize the microphone’s sensitivity and audio output to suit your specific recording environment.

The microphone’s design is sleek and ergonomic, making it easy to handle and integrate into your existing setup. It offers hassle-free connectivity options, allowing for seamless integration with a range of devices and recording software. Whether you are recording in a studio or in a more intimate setting, the [insert microphone model here] delivers exceptional sound quality and performance.

Link to Purchase the Recommended Microphone

For those interested in purchasing the recommended microphone, you can find it at select online retailers or directly through the manufacturer’s website. Please refer to the video description for the link to purchase the microphone. By using the provided link, you can support me as the creator and potentially benefit from any applicable promotions or discounts offered by the retailer.

Conclusion

Summary of Key Points

In this video, I shared my experience of having my insurance policy canceled and the subsequent challenges I faced in obtaining a new one. Despite securing a new policy, there are still unresolved issues and concerns. The limited coverage, high premium, and rising costs associated with homeowners’ insurance and property taxes pose potential risks to homeowners and the overall housing market. Additionally, I offered one-on-one consultations, recommendations for filming and editing equipment, and resources for cashback programs, email updates, and microphone purchases. I also highlighted the significance of real estate knowledge and mentioned related articles that explore various topics within the industry.

Final Thoughts and Reflections

My experience with insurance cancellation has highlighted the complexities and uncertainties of the homeowners’ insurance market. It has become increasingly challenging for homeowners to secure affordable and comprehensive coverage, and this issue extends beyond my personal circumstances. The rising costs of insurance and taxes have the potential to impact the housing market on a broader scale, leading to significant financial implications for homeowners and potential buyers.

As I continue to navigate these challenges and share my experiences, I hope to offer support, guidance, and resources to those facing similar situations. The goal is to empower individuals with knowledge, help them make informed decisions, and ultimately contribute to a more transparent and fair homeowners’ insurance market.

Call-to-Action

If you have any questions, concerns, or would like to book a one-on-one consultation, please visit my website or refer to the video description for further details. Remember to subscribe to my email list to receive weekly updates, exclusive content, and stay informed about the latest topics in real estate. Lastly, consider exploring cashback programs to save money on your internet purchases and investing in high-quality audio equipment to enhance your content creation endeavors.

Together, we can navigate the complexities of homeowners’ insurance, stay informed about real estate trends, and work towards a more secure and transparent future for homeownership. Let’s connect, support one another, and make informed decisions that protect our investments and financial well-being.