Tag: FL Homeowners insurance

Homeowners insurance at Citizens shedding some weight

Julie Campbell
Florida homeowners insurance, Citizens Property

Lawmakers have given the state backed insurer the ability to take action to reduce its policyholders. The state backed homeowners insurance company, Citizens, in Florida, will now be reducing its number of policyholders following the approvals that it has recently received from lawmakers. Hundreds of thousands of policies will no longer belong to Citizens but will be shifted to the private market. Certain areas are being affected more heavily than others. Many lawmakers are using this as a kind of pilot program to be able to decide how reforms for…

Read More

Homeowners insurance changes from Citizens could greatly impact coastal properties

H. Cutner
Florida homeowners insurance, Citizens Property

Experts in coverage and in real estate are saying that the homes along the coast could see major changes. According to the homeowners insurance and real estate communities, the reforms to Citizens that have occurred in Florida will have a sizeable impact on the homes located along the southern coast of the state. The legislature has now approved changes that have been designed to reduce the insurer’s enrollment. The reason that Citizens is hoping to considerably reduce the number of people it serves is that its current size makes it…

Read More

Florida homeowners insurance bill passes this week

Dan
Florida homeowners insurance, Citizens Property

Lawmakers pass bill concerning Citizens and homeowners insurance Florida lawmakers having been toiling over legislation concerning Citizens Property Insurance and the state’s homeowners insurance market. Senate Bill 1770, as it is called, has been a controversial issue for the state’s Legislature. The original iteration of the bill would have introduced significant changes to Citizens Property Insurance, which accounts for the majority of homeowners insurance policies in the state. The bill would have forced the state-run insurer to raise rates on coverage, a provision that proved unpopular among the general population.…

Read More

Homeowners insurance reform bill for Citizens once again delayed

H. Cutner
Florida homeowners insurance, Citizens Property

The overhaul for the state backed insurer is being held back yet again in Florida. On Wednesday, a vote that had been scheduled for a sizeable overhaul of homeowners insurance in Florida was delayed, yet again, which may suggest that the fear of sending rates skyward is holding the bill down in the state Senate. It is not that the bill is without the necessary support, but the sponsor is seeking additional time. The sponsor of the bill is Senator David Simmons (R-Altamonte Springs). He indicated that he has already…

Read More

Flood insurance policies recommended to Florida residents before hurricanes begin

H. Cutner
Flood Insurance

Homeowners are urged to purchase their protection ahead of potential flooding problems. Kevin McCarty, the commissioner for Florida, has released an official announcement that is urging homeowners in the state prepare for the upcoming hurricane season through the purchase of flood insurance before the storms start to arrive. The last few years have shown the weather to be fierce and unpredictable, so it is best to be prepared. Flood insurance coverage is available to business owners, homeowners, and renters through the National Flood Insurance Program (NFIP) to communities that are…

Read More