Many have called the state’s current situation a crisis as insurers fold and withdraw coverage. Florida Governor Ron DeSantis has announced that he is calling a special legislature session to address the widespread property insurance struggles faced in the state. The Republican state governor said that the special session will be taking place in May. DeSantis said that the special legislative session will occur in May. Its primary focus will be on the “reform of the property insurance market” and may also focus on a number of other topics. He…
Read MoreCategory: Homeowners Insurance
We explore all property insurance for homeowners as well as industry updates. Renters, condo, earthquake insurance as well as flood insurance are all topics covered. Flood insurance is undergoing a slew of changes all over the world that are making headlines daily
Florida property insurance could get special legislative session
Lawmakers are calling for the opportunity to work on this critical state in the issue. Senator Jeff Brandes (R-St. Petersburg) has formally asked his colleagues to support the call he made to hold a special legislative session to focus on the Florida property insurance crisis. The state has been losing insurers as they withdraw or go into liquidation. “We can no longer wait on this issue,” said Brandes, who issued a “template letter” to his colleagues so those lawmakers could send it to the Department of State. The goal is…
Read MoreFlorida Citizens Insurance rates might be climbing higher soon
The insurer of last resort might become less affordable to people across the state. Homeowners in Florida could soon find that even insuring themselves with Citizens Insurance, the last resort coverage in the state, will lead to higher premiums. The state’s battered homeowners market is forcing policies into the state-backed insurer’s hands. As a growing number of homeowners leave Florida or find themselves in liquidation, many property owners find that they don’t have a choice other than to turn to Citizens Insurance for coverage. This has left the insurer covering…
Read MoreState lawmakers seek to improve Colorado wildfire insurance process
Victims of the blazes often find themselves underinsured, even after recently updating policies. The majority of the victims of the Marshall fire are seeking to rebuild and return to their lives and communities but are struggling with their Colorado wildfire insurance. Reports are finding that the majority of victims were underinsured even after a recent policy update. Lawmakers are hoping to make changes that will improve the Colorado wildfire insurance claims process to make it easier for victims of natural disasters to rebuild if that is their choice. State Senator…
Read More9 Florida insurance companies selling homeowners’ coverage in liquidation
Insurers selling home policies are dropping like flies as hurricane season rapidly approaches. Atlantic hurricane season is rapidly approaching, but homeowners are struggling to find Florida insurance companies to sell them affordable coverage. Premiums have been taking off, but despite the higher expense, policyholders are offered fewer protections. Florida insurance companies are facing a crisis as they attempt to survive in the state’s homeowners’ market. The situation is looking increasingly dire for property owners who are attempting to ensure that they have the coverage they need as the hurricane season…
Read More5 Types of Insurance and Why You May Need Them
Life has a way of throwing the unexpected at you at the worst possible time. This is where insurance comes in. When you’re paying your premiums, you may wonder sometimes whether it’s worthwhile, but when those emergencies happen, it all becomes worthwhile. The rest of the time, simply having the right policy can be important for your peace of mind. Below are a few of the types you may want to consider. Treatment Abroad Everyone knows that you need health insurance, but this can still mean high medical costs. For…
Read MoreIowa home insurance appraisal bill’s future unclear following tornadoes
It’s no longer clear whether the bill will advance but critics say it will make claims tougher. It isn’t obvious whether lawmakers will advance an Iowa home insurance bill that would make it tougher for policyholders to make claims for damage related to natural disasters such as the tornadoes that cut their way through parts of the state last weekend. The bill’s design would restrict the appraisal process applied to disputed claims. The restrictions to the Iowa home insurance appraisal process used for disputed claims. If the bill passes it…
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