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For 32 years, Jim Tynan had a homeowners' policy with Allstate on his 1,200-square foot condo in Ponte Vedra, Florida. In January, Tynan's Allstate subsidiary told him it was going to drop him.
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]
Florida's homeowners insurance crisis has become a nightmare for many homeowners, driving them out of the state. Home insurance premiums continue to increase, with limited competition in the market.
Home insurance rates have soared in Florida, ... Why the Florida homeowners insurance crisis should worry us all. Alexander Nazaryan. November 28, 2023 at 10:21 AM.
Allstate added products throughout the 1950s, including fire insurance in 1954 and homeowners and life insurance in 1957. Allstate began selling insurance to Canadians in 1953. Allstate Insurance Company of Canada was incorporated in 1964. [ 10 ] (
Florida’s crumbling homeowners insurance market is exposing one of the state’s long-running flaws: its reliance on a single company to certify the majority of the state’s insurers.
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