The recent spike in inflation has substantially increased the daily cost of living for all Floridians. Everyday goods such as food and fuel now cost more, and it is having a noticeable impact on household finances. At some point, the question then arises as to how this inflation effects your property insurance coverage.
Your insurance
Your insurance coverage limits are the maximum amount the insurance company will pay you after a loss. As you’ve probably noticed, the cost of buying a home has skyrocketed – and experts say that the market is not going to slow down anytime soon. With the home prices increasing at such a rapid pace, should
It seems like every April 1st, the National Flood Insurance Program informs us that it is raising the premium rates for flood insurance. (Feel free to insert any April Fools jokes here.)
As of April 1, 2018, the average flood insurance premium rose 8 percent, with some property owners seeing increases of up to 25
Over the past few months, many Citizens Property Insurance policy holders received a notification that, unless they opted out within a certain time frame, their property insurance would be automatically transferred out of Citizens and into one of several small start-up insurance companies. These newly formed property insurance carriers have been nick-named “take-out” companies because
It may come as a surprise to many homeowners, but you may be able to substantially reduce your homeowner’s property insurance premiums by just looking through the provisions of your policy. Specifically, most homeowner’s insurance policies set forth numerous premium “credits” for which you can qualify based upon the age and condition of your home.
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
Despite no major storms or hurricanes hitting Florida since 2005, Florida property insurance rates have continue to skyrocket over the past few years – with no end in sight. Shockingly, a recent AP report showed that Florida’s Office of Insurance Regulation has approved more than 100 rate hikes per year since 2009. Where is the