According to a recent Tallahassee Democrat article, the last five years have seen an explosion of lawyers, unlicensed public claims adjusters, and restoration companies that are posing as loss consultants to target and deceive homeowners who have had their homes damaged by hurricanes and other severe weather in Florida. These scammers show up in neighborhoods […]
Homeowners in Florida can look forward to yet another year of insurance increases in the Sunshine State according to a new Value Penguin article. Insurers have already started filing rate increase requests for 2021. Allstate has requested a 13.8 percent rate increase for the new year and other insurers are sure to follow shortly. Florida […]
Homeowners in Central Florida will most likely be seeing higher property insurance premiums next year, these increases are the result of a record hurricane season as well as lawsuits. Insurers have requested rate increases from the Florida Office of Insurance Regulation (FOIR) that exceed 30 percent for next year. This year, the skyrocketing premiums are […]
Assignment of benefit (AOB) scandals have pushed up homeowner insurance prices in Florida over the last decade and have been a thorn in the side of Florida lawmakers as they have struggled to pass legislation that effectively deals with the scams. We thought it might be helpful to look at just how AOB scams work […]
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 […]
A beautiful view of the Islamorada coastline. Also known by Florida homeowners as the highest homeowners insurance rates in the country. According to a recent Insurance.com rate analysis, the highest homeowner insurance rates in the country are in zip code 33070 which encompasses Islamorada Village of Islands, on Plantation Key in Florida. Second place in this dubious honor […]
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 […]
Homeowners in Florida may be in for a price increase in 2020, despite the fact that lawmakers passed an assignment of benefits reform bill las year. Insurers are requesting major price increases this year, it looks like the prediction of higher insurance rates after Hurricane Irma is finally here. Executives from National Specialty Insurance Co., […]
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 […]
In August of 2019, this waterfront Florida condo in St. Petersburg, Florida keeps first floor windows covered as Hurricane Dorian approaches. Demotech, the agency that is responsible for assigning insurers a financial stability rating (FSR) has warned that more than 40 domestic insurers in Florida will receive a downgrade, mainly due to the deteriorating conditions […]