Security First Insurance Co. has partnered with Esurance and will be underwriting so that they may offer insurance to Florida homeowners. This announcement comes close on the heels of the purchase of Esurance, an online auto insurance company, as well as its associated site, Answer Financial, by Allstate Insurance. The April purchase was worth $1 billion. Esurance offers the third highest number of quotes for car insurance through its 24/7 call center and its website. It sells car insurance policies in thirty states. According to Esurance – which is recognized…
Search Results for: florida homeowners
Florida prepares for homeowners insurance changes in next legislative session
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…
Florida’s top earners pay hundreds of thousands in homeowners insurance premiums
Some billionaires in the state are paying as much as $622,000 per year for property coverage. Florida’s mega rich may own massive properties and huge mansions, but this doesn’t mean that they are able to escape the skyrocketing homeowners insurance premiums the state has been facing. In fact, billionaires in the state are paying hundreds of thousands of dollars for their coverage. According to a recent Bloomberg report, owners of some of the largest mansions and properties in the state are paying massive homeowners insurance premiums every year. The report…
Florida Senate gives the nod to homeowners insurance overhaul
The changes will involve new lawsuit limits, among others to ease the burden to property owners. This week, the Florida Senate gave its approval to overhauling homeowners insurance in the state, targeting the areas causing property owners – and therefore insurers – the largest amount of pain. The industry in the state will be undergoing a number of critical changes to help lift it out of crisis. Among the changes to the homeowners insurance industry that received approval include a new limit on lawsuits. There are also changes designed to…
Florida passes homeowners insurance bill including $10k for home hardening
State residents could receive $2 for every $1 they pay for upgrades to protect their homes from damage. Florida state lawmakers have passed a bill to update homeowners insurance regulations and bring back a 16-year-old program that would pay an owner as much as $10,000 for home hardening upgrades. The goal of the legislators was to help ease the sharply increasing rates residents are paying for coverage. The new program meant to help reign in the skyrocketing homeowners insurance rates is called My Safe Florida Home. It has been designed…
