Citizens Property Insurance continues to raise rates in Florida

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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Florida Catastrophe Fund may be out of money

Florida Catastrophe Fund Insurance News

Florida Catastrophe Fund facing serious financial troubles It is no secret that Florida is prone to hurricanes and flooding disasters. This is one of the reasons many property insurers have chosen not to offer coverage in some parts of the state. In 2010 and 2011, Florida was pummeled by powerful storms that caused widespread damage to homes and businesses. Because many insurers were not liable to pay claims associated with damage they do not cover, consumers had to turn to the Florida Catastrophe Fund. Now, information is coming to light…

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