Tag Archives: florida homeowners insurance

Florida has 7 New Home Insurance Companies Entering the Market

01 Mar

Recently, Florida has seen seven new insurance companies enter the market for homeowners coverage. Currently, the average premium for homeowners coverage is $6,000 a year in the Sunshine state compared to a nationwide average of just $1,700 a year, according to the Insurance Information Institute.  The Insurance Information Institute is hopeful that the new insurance […]

Florida Home Insurance Crisis Continues to Increase

14 Sep

All signs point to Florida homeowners seeing their homeowner insurance bills going up as the property insurance crisis in the Sunshine state continues to grow. In August, another insurance company went belly up, this was the 10thinsurer to go under since April of 2021.  As insurers go under, the Florida Insurance Guaranty Association (FIGA) which […]

Lawmakers return to Tallahassee Florida to Address Property Insurance Prices

13 May

Later this month, state lawmakers plan to return to Tallahassee for a special session to address property insurance. In addition, there is a federal effort to also examine the issue of property insurance prices in Florida. U.S. Rep. Charlie Crist, a Democrat from St. Petersburg who is currently running for Florida governor plans to file […]

Lowering Home Insurance Premiums Failed to Pass the Florida Legislature

22 Mar

Recently, three property insurance bills that were designed to stabilize the Florida insurance market and temper skyrocketing homeowner insurance premiums failed to pass the Florida legislature. This was a disappointment to both homeowners and insurers as property insurance premiums continue to head up, in fact, premiums shot up almost 25 percent in the last year. […]

Florida Senate to Consider Changes to Property Insurance System

12 Apr

The Florida Senate is considering a plan that would make dramatic changes to the property insurance system in the state. It would allow insurance companies to limit the amount paid out for roof damage while also putting new restrictions on lawyer fees during insurance disputes.  The Senate Rules Committee approved the plan (SB 76), preparing […]

Coastal Homeowners Insurance in Florida

26 May

Florida has it all, constant sunshine, beaches,plenty of restaurants and entertainment. It also has some of the highest homeowner insurance premiums in the country. According to Value Penguin, the Sunshine State has the 14th most expensive homeowner insurance rates in the country with the average premium coming in at $1,727. While insurance premiums are high all […]

Florida’s Windhaven Insurance is Ceasing all New and Renewal Business

04 Mar

Another sign of Florida’s troubled property insurance market popped up this week as Windhaven Insurance alerted employees and agents that it is winding down and its assets are being foreclosed on by their lender who will eventually sell the company to another insurer.  Windhaven’s problems extend beyond Florida, Windhaven National Insurance Co. which is a […]

Florida Homeowners Insurance Rate Hikes 2020

23 Jan

According to a recent editorial on Yoursun.com, the legislation passed last year to bring assignment of benefits (AOB) lawsuits to end has not succeeded in bringing down homeowner insurance costs for Florida residents.  In 2019, zero hurricanes came ashore. In fact, only Hurricane Dorian (which was a category 5) threatened the Sunshine State but ended […]

Miami Home Insurance and Coverage for Damage Caused by Sinkholes

17 Oct
Florida Homeowners Insurance & Sink Holes

The sinkhole that damaged a resort near Clermont, Florida, recently, has once again turned the spotlight on the dangers caused by sinkholes in Florida. While sinkholes are common in many parts of the country, Florida homeowners in general and Miami home owners in particular experience a lot of damage from them because of the limestone […]