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We expect home insurance rates in Florida to remain high in 2023 due to expenses associated with ongoing litigation, combined with soaring reinsurance rates and double-digit replacement cost ...
Florida’s home insurance crisis may be causing residents to flee the state in droves as premiums skyrocket. Rising home insurance rates in Florida could be driving people away. What’s happening:
Florida had the highest percentage — 20% — of homeowners paying that annual amount for homeowners insurance in 2023, according to the Census Bureau 2023 American Community Survey, released ...
Insurance costs are primarily governed by two factors: the risk of occurrence and the asset exposure. With 1,200 miles of tropical shoreline, Florida is uniquely vulnerable to hurricanes and ...
Of the $165 billion in natural disaster–caused damage the U.S. experienced in 2022, $116 billion of it was in Florida. Average annual home insurance premiums are triple the national average ...
About the only thing everyone agrees on is that the state’s insurance rates have been rising sharply. Insurers say they need higher premiums to offset mounting losses from hurricane claims ...
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