Tag: Florida insurance

Citizens Property Insurance continues to raise rates in Florida

Marc
homeowners insurance cost rising

Florida homeowners insurance becoming more expensive due to Citizens Property Insurance Florida did not experience a calamitous storm throughout 2012. While the state did fall victim to some tropical storms, the damage caused by these events was modest when compared to that of Hurricanes Sandy and Irene, both of which caused serious problems along the East Coast. Despite the fact that the state seems to have skirted any major natural disaster, the cost of property insurance in Florida is on the rise, and Citizens Property Insurance may be the reason.…

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Insurance news features highlight on water damage scams in 2012

water damage insurance news

Insurers are cautioning consumers to take care in the way they deal with their cases. Due to recent insurance news that has included a massive increase in the number of water damage scams throughout this year, insurers are now warning their customers to take care to contact their homeowners or business insurers immediately to make sure that all procedures are followed correctly and they can obtain the proper assistance. In some states, such as Florida, approximately half of all claims have to do with water damage. The problem is that…

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Force placed insurance company may slash rates by 19 percent

Force placed insurance

Florida may see a considerable reduction from QBE following state regulator criticism. The biggest force placed insurance company in Florida, QBE, has responded to the criticisms that it has received from regulators by making an offer to decrease its rates by 19 percent. This could make a significant difference in the coverage and real estate marketplaces of the state. Force placed insurance is purchased by lenders – typically mortgage lenders – on behalf of homeowners who have failed to purchase their own coverage or who have let their policies expire.…

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Homeowners insurance plans from Citizens accepted by Florida lawmakers

Julie Campbell
Florida homeowners insurance, Citizens Property

A panel of state officials have embraced new plans by the insurer of last resort. A proposal by the state run homeowners insurance company, Citizens, has now been accepted by Florida lawmakers, changing the current regulations so that the company will now be able to provide private insurers with loans of up to $350 million in order to encourage them to provide residents of the state with coverage so that the company will continue to shrink. The largest insurer in the state currently covers over 1.4 million policyholders. The insurer…

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New title insurance policy approved by Florida regulators

Nordstrom
Homeowners insurance New Jersey

Title insurance continues to be difficult subject in Florida Title insurance in Florida has long been a tricky business. The state is considered a high risk market due to its exposure to hurricanes and tropical storms coming through the Gulf of Mexico. As such, the title insurance maerket in Florida can be difficult to navigate for some consumers more than in other states. This often creates problems for consumers, but there may be some relief in sight as the Florida Office of Insurance Regulations approves new measures to ensure the accessibility of affordable insurance…

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