Citizens Property Insurance Corporation recently announced that it will begin offering homeowners insurance to properties that were previously damaged by sinkhole activity. This announcement was praised by insurance agents and real estate professionals as crucial to protect the marketability of homes in central Florida.
In the past, property owners would often have trouble obtaining property
By now, you’ve most likely seen the stories about the large sinkhole that opened in Dunedin, Florida this week. The Dupre family was awakened early Wednesday morning to what sounded like someone noisily attempting to break into their house. Upon inspection, the homeowners were shocked to see that their entire back porch was sliding into
Even though the online insurance marketplace under the Affordable Care Act, otherwise known as ObamaCare, went into effect on October 1, 2013, it seems very few people have actually signed up for coverage under the new law. A recent blog in the Miami Herald stated that the paper had searched “high and low” for individuals
An essential part of hurricane preparation is having a plan for your family long before a storm arrives. Once the storm arrives, it is too late to start thinking about contingencies and making plans for your family’s safety. Your basic plan can be re-used each year, but make sure to review your plan each year
Citizens Property Insurance Corporation has been earning a reputation for systematically denying almost every insurance claim asserted by its policyholders. Instead of honoring valid claims, Citizens spends millions of dollars each month “defending” claims – the same type of claims that other insurance companies would routinely pay without question. Although those of us in the
Although hurricanes, earthquakes, and sinkholes get the majority of the attention in the news, the vast majority of insurance claims deal with water damage to property. These claims are generally broken into two categories – flood damage and water leak/seapage damage. Flood claims revolve around damage caused by “rising water”, as opposed to other types
Pursuant to a new Federal law, premiums for residential flood insurance in Florida may soon be as high as $24,000 a year. A new law, the Biggert-Waters Flood Insurance Reform Act, was enacted by Congress in 2012 as a knee jerk reaction to the recent large scale disasters such as hurricanes Katrina and Sandy. Proponents
By now, you may have seen the video of the sinkhole swallowing portions of a forest in Louisiana, but – like all classic films – it is worth seeing again.
This video should serve as a shocking reminder of the sudden and brutal nature of not
Last night, Citizens Property Insurance Corporation held a public hearing on its proposed hikes to the homeowners insurance premiums currently paid by Floridians. The hearing was requested by former state Senator Mike Fasano in advance of the Florida Office of Insurance Regulation’s upcoming decision on whether to approve the rate increases being requested by Citizens
Here in Florida, we tend to think that we have the exclusive right to complain about Flood Insurance and the rising premiums that go with it. Unfortunately, flood insurance and ever increasing premiums are a problem not only in other states, but in other countries as well.
For example, a recent article in the Tampa