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The result of all this is that insurance litigation has exploded in the state. The Insurance Information Institute (III), an industry group, reports that 80 percent of the nation's homeowners ...
A proclamation from the office of Governor Ron DeSantis notes that, although Florida only accounts for 9 percent of the country’s home insurance claims, it is home to 79 percent of the country ...
Homeowners insurance in Florida increased about 40% year over year in 2023—and a whopping 102% during the past three years, according to the Insurance Information Institute. Florida insurance ...
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.
Homes covered by an HO-2 Broad policy accounted for 5.15%, which covers only specific named perils. The remaining 2% includes the HO-1 Basic and the HO-8 Modified policies, which are the most limited in the coverage offered. HO-8, also known as older home insurance, is likely to pay only actual cash value for damages rather than replacement. [13]
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