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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 ...
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 ...
The crisis in the Florida insurance market. Florida has always been a complex home insurance market. Since 2017, eleven property and casualty companies that offered homeowners insurance in Florida ...
Designed to span the gap between the coverage provided by the blanket policy written for the entire neighborhood or building and the personal property inside the home. The condominium association's by-laws may determine the total amount of insurance necessary. E.g., in Florida, the scope of coverage is prescribed by statute – 718.111(11)(f). [14]
How to fix Florida's homeowners insurance. 1. Reduce risks and use more self-insurance, so homeowners have more at stake to protect; 2. ... (One condo I own just had its building coverage go from ...
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