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Many insurers that covered master condo policies pulled back on the market after Surfside,” said Mark Friedlander, Florida spokesman for the Insurance Information Institute, referring to the ...
If Florida and the alarming property insurance trends nationwide are any indication, homeowners seeking affordable property insurance shouldn’t expect much help from state governments alone ...
Condo sales, on the other hand, are slow because the cost of both buying and owning a condo has surged. Homeowners insurance in Florida increased about 40% year over year in 2023—and a whopping ...
To help condo owners absorb rising homeowners premiums, these bipartisan lawmakers want to create a pilot program to allow state-run Citizens Property Insurance to offer a cheaper plan. When ...
The Florida Insurance Guaranty Association board met on March 31 and filed for an emergency assessment of 1% on all Florida property insurance policies. [32] That is in addition to a 0.7% for 2022, a 1.3% assessment from July 1 2022 to June 30 2023, and another 0.7% ending December 31 2023. [32]
One of the biggest justifications for rising costs is the passage of Senate Bill 4-D in Florida, which was passed in the wake of the Surfside Condo collapse. The 12-story condo fell in June 2021 ...
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