Archive | September, 2023

Citizens Property Sends Out Letters

27 Sep
Citizens Property Insurance Corporation

Soon, hundreds of thousands of Citizens Property Insurance Company policyholders will be getting a letter in their mailbox asking them to move their policy to a private insurance company and away from Citizens, the state-backed insurer of last resort. Citizens Property is using the letters as part of its “Depopulation” effort that was approved by […]

5 New Homeowners Insurance Companies Step into the Florida Insurance Market

27 Sep

Florida’s property insurance disaster may be taking baby steps in the right direction as five new insurers step into the Florida market, taking over hundreds of thousands from Citizens Property, Florida’s insurer of last resort. This could lead to more insurance options for residents of the Sunshine State soon. The five companies in the mix […]

Should I bundle my insurance policies or keep them separate?

25 Sep

Bundling insurance policies simply means buying different types of insurance policies from the same insurance company. The most common type of bundling is usually a car insurance and home insurance policy, but bundling can include other policy types such as life insurance or even an umbrella policy. However, while bundling is a pretty common tactic, […]

Why is Florida homeowners insurance so expensive?

22 Sep

Homeowner insurance premiums are dramatically heading up this year, particularly in states that are prone to natural disasters. According to a new report from Policygenius, the average homeowner policy went up 21% nationally which is on top of a 12% increase that homeowners endured last year.  As usual, Florida is at the top of the […]

Recent Committee Meeting Over the Cost of Home Insurance 

12 Sep

Senators heard from consumer advocates as well as friends from the insurance industry in a recent committee meeting regarding the cost of homeowners insurance and how climate change is impacting the cost of homeowners insurance.  Consumer advocates argued that more robust state regulation and increased federal involvement is necessary to slow rising premiums while friends […]

2023 Hurricane Idalia – Clean Up Begins & What Now for Florida Homeowners

08 Sep

Hurricane Idalia recently made landfall in Big Bend as a Category 3 storm, killing at least three people in Florida before moving onto Georgia and other East Coast states before it weakened into a tropical storm. The storm left over 330,000 people without power. In recent years, Florida communities have been hit by a string […]

Top 5 Most Common Home Insurance Coverage Gaps & Unexpected Expenses

07 Sep

Homeowners insurance can be a financial lifesaver if your home is damaged or destroyed by a covered peril. However, there can be coverage gaps that can leave a homeowners covering repair bills out of their own pocket if the damage exceeds their coverage levels or the policy has an unexpected deductible.  We thought it might […]