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If they want to reduce the problem in Florida, here are five ways. How to fix Florida's homeowners insurance. 1. Reduce risks and use more self-insurance, so homeowners have more at stake to ...
The state set up a nonprofit, Citizens Property Insurance Corp, in 2002 to provide coverage for homeowners who cannot find it through the private sector. With 1.2 million policies in force, it is ...
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 ...
Florida home insurance has always been complex due to the state’s high risk of storm damage, but the incidence of fraudulent roofing claims has pushed the market to the brink of collapse.
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]
As of October 2023, new insurance companies have been approved by the state to offer homeowners insurance in Florida. Slide Insurance, TypTap Insurance and others made offers to over 150,000 ...
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.
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related to: homeowners insurance cancellations by state list of hotels florida