Florida auto insurance costs more than coverage in most other states

Florida Auto Insurance

Research has shown that car coverage in the state costs up to 25 percent more than the U.S. average. According to newly released data from Insure.com, drivers in Florida are still facing very expensive auto insurance, to the point that they are paying up to 25 percent more than the average across the rest of the country. The report on the data analysis determined that Florida is the eighth most expensive state in the U.S. The average amount paid for auto insurance premiums in Florida was $1,654. When compared to…

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Homeowners insurance costs in Florida are finally leveling off

Homeowners Insurance Florida

The state is approaching the hurricane season’s statistical peak very soon and property policies remain comparatively reasonable. Next Wednesday, on September 10, the hurricane season will has reached its peak, and so far, Florida has managed to make its way through another year without being affected by any serious storms, and this good luck has had a highly positive impact on the cost of homeowners insurance in the state. This was not the case when Hurricane Andrew struck the state and left devastation behind 22 years ago. That storm altered…

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Legislation targeting the insurance industry passes in Florida

Florida insurance industry

New legislation stands to benefit consumers throughout the state of Florida New legislation has been passed in Florida that aims that is meant to modernize insurer solvency throughout the state. The legislation is expected to benefit Florida consumers as it will provide them with new protections and make changes to state regulations that have become considered archaic. Senate Bill 1308, as it is called, is heavily based on the national standards that have recently been introduced by the National Association of Insurance Commissioners. Legislation is based on national standards from…

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Florida prepares to open its own health insurance exchange

Florida health insurance

Florida moves to open a state-run exchange Florida may soon be operating its own health insurance exchange. The state has become a well known opponent of the Affordable Care Act , going so far as to seek the dismantling of the federal health care reform law through the Supreme Court as well as banning insurance navigators from working in the state. The state has missed its deadline to develop and operate a working exchange last year, meaning that a federal exchange has been set up for the state’s residents. Now,…

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Homeowners insurance changes from Citizens could greatly impact coastal properties

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…

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Homeowners insurance costs eclipse mortgages in Florida

Homeowners Insurance Florida

Florida homeowners now paying more for insurance than for their homes One of the highest expenses facing Florida families has long been the mortgage on their homes. Mortgages in the state, just as elsewhere throughout the U.S., put a large amount of financial pressure on families. While mortgages have been the highest expense for many families in the state, these families are beginning to pay more for their homeowners insurance coverage, according to the Insurance Information Institute. The non-profit organization suggests that consumers are paying more for their homeowners, auto,…

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Insurance News Broadcast

  Welcome to our Live Insurance News Broadcast! Join us every week as we annouce news Fresh Of The Press! Catch this week in the industry…   Check out a summary of today’s headline articles as well as a link directly to the source! Health insurance exchange approved in Minnesota Early this week, Minnesota lawmakers passed a legislation that calls for the creation of a health insurance exchange that is managed by the state. Opponents of the state-run health insurance exchange argue that it will simply be too expensive for…

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