Two weeks into hurricane season, two property insurance companies in Florida are scaling back policy coverage, citing their vulnerability to natural disasters like hurricanes and floods.
The Farmers Group and AIG made the announcement, and according to the insurance experts, it’s an indication that Florida’s insurance market is still very much in crisis.
Over the past 18 months in Florida, 16 property insurance companies have decided to stop writing new business to new homeowners in one form or the other.
The latest include insurance giants AIG, deciding it will no longer insure houses along Florida’s coastline, and the Farmers Group deciding not to write any new policies at all.
Farmers issued a statement in part reading:
″We’re seeing a trend of excessive losses when it comes to catastrophes across the US. And that’s whether it’s hurricanes, tornadoes, wildfires, convective summer storms,” Luis Sahagun, Farmers Insurance Spokesman, said.
The Consumer Law Office, P.A. (CLO) represents ONLY the policyholders in property damage coverage – not the insurance companies!
CLO is not shy about what we do. Our job is to fiercely advocate for homeowners and business policyholders. We help our clients understand their insurance coverage and protect their rights and interests in a coverage dispute.
Your insurance company has the resources to hire experts to protect their interests; your representation should be no different.
CONTACT CLO TODAY 305-940-0924
FOR A FREE COMPREHENSIVE PROPERTY DAMAGE ASSESSMENT AND CONSULTATION. Visit https://consumerlawoffice.com/
We only get paid when you get paid by your insurance company.
Contact CLO Today! 305-940-0924
