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Two Florida lawmakers blame insurance companies — not new state law — for helping to fuel a condo crisis that has hit owners with rising fees and assessments in high-rise buildings.
Car insurance premiums in America are through the roof — and only getting worse. ... Per the new Florida law, all three-story-plus condo buildings and at least 30 years old must undergo a ...
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 ...
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]
“Condos are being hit the worst because the people that are buying, they’ve seen what happens when the hurricanes come, they’ve seen what happens when the condos aren’t built properly, and ...
A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners.
In Florida, where Orman bought her condo and there's a high risk of hurricanes, the homeowners insurance market is collapsing and the state-backed insurer has been called "not solvent" by Gov. Ron ...
What no one predicted then was record inflation, high interest rates and, above all, that Florida’s insurance industry would tailspin into a crisis. Poliakoff said he’s heard stories of condo ...
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