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So, for example, if your property is insured for $300,000 and wind from a tropical storm damages the roof, you would need to pay $15,000 out of pocket before your insurance covers the rest if you ...
Citizens Property Insurance Corporation (Citizens) was created in 2002 from the merger of two other entities to provide both windstorm coverage and general property insurance for home-owners who could not obtain insurance elsewhere. It was established by the Florida Legislature in Chapter 627.351 (6) Florida Statutes as a not-for-profit insurer ...
These lawmakers from South Florida are proposing increasing the cap on the value of homes that state-run Citizens Property Insurance can cover in Monroe and Miami-Dade counties.
In late August, FIGA’s board and the Florida Office of Insurance Regulation (OIR) approved a .7 percent assessment to help cover the costs of open claims associated with the liquidated companies ...
Home insurance, also commonly called homeowner's insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use ...
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
Its geography makes Florida, a low-lying peninsula jutting out into hurricane-prone waters, a hard place to insure under any circumstances. Of the $165 billion in natural disaster–caused damage ...
Data from Citizens, the state-chartered property insurer of last resort for homeowners who can’t find coverage in Florida’s shaky home insurance market, show the company dropped 2,267 policies ...