The Insurance Information Institute, a nonprofit organization funded by large insurers, estimated in 2023 that the average Florida homeowner insurance cost $6,000, three times the national average, to insure. Hopefully that is about to change. Two longtime South Florida political [...]
Florida's most used home insurance company Citizens announced it will begin shedding more property insurance plans next week. Legislation is also working through the Florida Legislature to reduce Citizens rolls even further by limiting second homes that would be eligible [...]
As of 2024, there are now six new private insurance companies in the Sunshine State. The 6 new companies are: Tailrow Insurance Company, Mainsail Insurance Company, Orion 180 Insurance Company, Orion 180 Select Insurance Company, Orange Insurance Exchange, and [...]
Home insurance premiums in Florida are at crisis proportions — with seniors growing increasingly anxious about whether they can hang onto their homes. Seniors in the state who rely on Social Security checks and other sources of fixed income are [...]
While private insurers continue to take over policies from Citizens Property Insurance Corp., Citizens often charges lower premiums than private insurers. What if state-owned Citizens Property Insurance Corp. became the go-to provider of windstorm coverage for all personal and commercial [...]
Recent Florida legislation that has limited plaintiffs’ attorney fees and has raised the bar for bringing bad faith claims against insurers has made it more difficult for attorneys representing property owners to invest the time to combat alleged stonewalling and [...]
Florida’s insurance market is one of the worst in the nation for homeowners, according to data from the National Association of Insurance Commissioners (NAIC) obtained by The Washington Post. Overall, in 2022, Florida had the highest percentage of unpaid claims [...]
Private insurers continue to take over policies from the state’s Citizens Property Insurance Corp. Seven carriers have assumed hundreds of thousands of Citizens policies, as part of an effort to reduce the number of homes insured by Citizens, which was [...]
Soaring home insurance premiums in Florida are putting residents under unbearable financial pressure, with many telling Newsweek that they are considering leaving the state or moving somewhere cheaper within Florida. Florida currently has the most expensive home insurance premiums in [...]
Governor Ron DeSantis’ proposed budget includes $430 million in tax cuts that aim to lower insurance premiums for homeowners, but the actual savings homeowners might see from the proposal are likely to be minimal. The Governor’s plan would waive [...]
