Found numerous articles and videos last night about (home) insurance companies leaving Florida;
Home owners insurance companies are abandoning Florida for greener (higher) pastures.
Since 2017, nine insurance companies were forced into liquidation or receivership in Florida.
Three more just this year are currently in the same process.
Many homeowners are finding they are currently without coverage they paid for.
Some remaining companies have raised rates as much as 3 times what they were just two years ago. One homeowner was paying $1000/month two years ago is now facing $3000/month.
In addition to skyrocketing rates, all Florida state homeowners will be facing an additional assessment to cover insurers that were forced into liquidation.
Rising material costs and home values have left many homeowners underinsured, depending on their policy coverage.
As a result, an increasing number of Floridians are uninsured, and the number is growing daily as rates continue to rise by leaps and bounds. Remains to be seen what this will mean to home values and real estate markets, especially for low and middle income housing, but its not looking good.
Home owners insurance companies are abandoning Florida for greener (higher) pastures.
Since 2017, nine insurance companies were forced into liquidation or receivership in Florida.
Three more just this year are currently in the same process.
Many homeowners are finding they are currently without coverage they paid for.
Some remaining companies have raised rates as much as 3 times what they were just two years ago. One homeowner was paying $1000/month two years ago is now facing $3000/month.
In addition to skyrocketing rates, all Florida state homeowners will be facing an additional assessment to cover insurers that were forced into liquidation.
Rising material costs and home values have left many homeowners underinsured, depending on their policy coverage.
As a result, an increasing number of Floridians are uninsured, and the number is growing daily as rates continue to rise by leaps and bounds. Remains to be seen what this will mean to home values and real estate markets, especially for low and middle income housing, but its not looking good.