Citizens’ home insurance changes get the nod from Florida lawmakers

Home insurance - Green light - approval

Both the House and the Senate have given the green light to a bill about insuring second homes As Florida continues to seek new ways to unload policies from its home insurance company of last resort, Citizens Property, the House gave its approval to a bill that could shift some second homes off the insurer and into the private coverage market. The Senate already gave its approval to the bill HB 1503 was passed unanimously by the Florida House after it had already received the Senate’s approval. Its next stop…

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Florida prepares for homeowners insurance changes in next legislative session

Homeowners insurance - Legislation - Changes

Several ideas have been proposed by lawmakers to help the state repair its current crisis. As Florida state lawmakers take on the annual legislative session, one of the top issues their constituents have been pushing to tackle has to do with the homeowners insurance crisis there. Lawmakers and industry officials aren’t currently in alignment about the changes required for this outcome. Governor Ron DeSantis already proposed a budget in December in which he intended to cut taxes to homeowners insurance. That said, this type of move would have only a…

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Florida’s DeSantis wants to ‘supersede” ACA with new health care plan

Health care - Florida New Plan alternative to ACA

The state governor seeking Republican nomination for president didn’t provide replacement plan details. In a recent interview on NBC’s “Meet the Press”, Florida Governor Ron DeSantis described his intentions to unveil a health care proposal this week that would “supersede” the Affordable Care Act (ACA). No further details were given about the specifics about the plan or what would be done with the ACA. That said, DeSantis never specifically said that his intention was to repeal the Affordable Care Act. That said, the Republican nominee hopeful did explain that he…

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Florida home insurance companies were warned by regulators about Hurricane Idalia

Home insurance - Hurricane Ahead - Warning

New laws in the state provide some accountability toward insurers, but consumers are also limited. Based on the massive number of complaints filed by Florida home insurance customers following Hurricane Ian, regulators warned insurers that they would not be allowing the same situation to develop following Hurricane Idalia. Regulators received complaints about insurers from nearly 8,000 victims of Hurricane Ian. As a result, following the destruction left by Hurricane Idalia, state regulators warned home insurance companies of possible punishment if claims were not properly managed. “We’re gonna be watching,” said…

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Florida home insurance prices heading as much as 60% higher

Florida home insurance - Home - Price - Dollar Signs

As state lawmakers scramble to get the industry under control, consumers will be paying more. The Florida home insurance industry has been in a dire situation for some time now, and even as lawmakers implement strategies to help, the situation is only getting more expensive for the state’s property owners. Last year, state lawmakers held two special sessions to deal with the serious property coverage problems. According to many of those lawmakers, the Florida home insurance situation isn’t getting better, as the goal right now is to simply try to…

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