As the number of extreme weather events has increased, reinsurance costs in Florida have shot up — by as much as 100% in January 2023 alone, according to Insurance Business magazine. Insurance companies are, in turn, passing that increase on to consumers. What does homeowners insurance cover ...
including 1 million State Farm General homeowners customers, and the insurance market in the state of California. State Farm General has had an outstanding filed rate increase pending since June 2024,” according
a number of homeowners in florida have faced a precarious situation for securing insurance. average homeowner premiums in florida surged nearly 60% between 2019 and 2023. some major insurance providers have reduced coverage. the state insurer, citizens, meanwhile has taken on increased...
In response to the escalating homeowners insurance rates in South Florida, Island Insurance Group (IIG) announces a comprehensive review and strategy to combat these rising costs for Miami residents. Miami, FL (1888PressRelease)December 31, 2023- As a leading provider of insurance solutions in t...
Mata has seen an increase in South Florida homeowners opting for flood insurance alongside their regular coverage. "People are realizing it's better to have flood insurance to protect against floods during hurricane season and from heavy rains," Mata added. ...
“They hide their profits. They pay them to sister and related companies…The insurers are just cooking the books and coming here and crying poverty to us and everything is being done on the backs of homeowners.”...
Homeowners Stubbornly Refuse a Lower Price And into late 2024, Florida homeowners are so far refusing to accept anything lower than their desired price. However, should theUS economyand Florida economy begin to stagnate, we wonder if a price crash decline might be in the offing in spring 2025...
Nationwide Asks for Huge Homeowners Rate Increase; It Wants to Boost Insurance Premiums in Florida by a Statewide Average of 71.4 PercentRead the full-text online article and more details about Nationwide Asks for Huge Homeowners Rate Increase; It Wants to Boost Insurance Premiums in Florida by a...
It is not uncommon for homeowners’ insurance claims to be underpaid in Florida. Insurance companies help bolster their profits by finding ways to limit what they need to pay out for claims. For example, they may argue that the damage was not covered by your policy or that you did not tak...
House approves homeowners insurance measure Florida House members overwhelmingly gave final approval Wednesday to a measure that seeks to stem property-insurance problems. May 25, 2022 Florida House Redistricting Plan Passes As Democrats Protest