June 1 marks the start of the 2023 Hurricane Season, and there are deep concerns that if another hurricane hits, the situation will be worse than in 2022 for property insurance availability and rates.

 

The new season comes as property insurance continues to weigh heavily on Floridians’ wallets as Homeowners continue to pay amongst the highest rates in the nation.

Ian was a devastating blow to an already imperiled homeowner’s insurance market. The back-to-back storms of Ian and Nicole took a market teetering on collapse and pushed it even further. Rates are going through the roof and your choice of insurance carriers is very limited.

 

While there is hope that the insurer accountability bill signed by DeSantis on Wednesday will provide needed protection for consumers since it boosts penalties for bad insurance actors and requires the insurance companies to show their work when manipulating claims. However, former state Sen. Jeff Brandes, R-St. Petersburg, said the bill only reaffirmed powers Florida already has. “If the Legislature really wanted to do something strong to help the overall system, they would really help fund the Office of Insurance Regulation at the level it needs to be funded in order to regulate this market appropriately,” Brandes said. “To me, that’s the major thing they could be doing.”

 

While property owners hope for a calm season, they are waiting to see if any of these new consumer protection DeSantis signed into law will bring them any relief with the skyrocketing cost of insurance.

 

While the Legislature has finally stepped up to enact some laws to help the Florida homeowners fight property insurance abuse, but is it enough as property insurance rates continue to climb and the market remains unstable?

 

If you are a victim of a hurricane or any weather event, let the Florida Property Damage Attorneys at The Consumer Law Office (CLO) help you receive the maximum property damage compensation you are entitled to under your insurance policy.

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

 

Your insurance company has the resources to hire experts to protect their interests; your representation should be no different.