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People’s Trust Insurance Company is an American home insurance company located in Deerfield Beach, Florida. [1] People’s Trust Insurance is privately held and as of 2017 [update] was the eleventh largest homeowners insurance company in the state with more than 110,000 policyholders throughout Florida.
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.
In 2022, news that 27 of Florida’s property insurance companies were potentially facing a financial rating downgrade from Demotech, the state’s primary financial rating firm, created panic in ...
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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]
According to Bankrate, as of August, the average annual premium for insurance in Florida is $5,531 for a $300,000 home — nearly two-and-a-half times the national average of $2,270.
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.
Ratings for insurance companies matter because they highlight the financial stability of an insurer and help people gauge if the company will be able to provide them with the money they need in ...
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