Initial estimates from the storm’s destruction are now being released, and much of it is not covered. Homeowners in Florida and other states along Hurricane Ian’s path could face uninsured losses as high as $17 billion due to flooding damage, according to new estimates released by CoreLogic. The estimates show that damages not covered by insurance will be between $10 billion and $17 billion. The uninsured losses from Hurricane Ian are expected to be nearly the same as what the covered losses are predicted to be, which is somewhere in…
Read MoreTag: Florida hurricane insurance coverage
Three more Florida property insurance companies cancel policies
Over 53,000 additional homeowners’ policies across the state are being cancelled due to hurricane claims. Three Florida property insurance companies have added their names to the list of insurers that have been cancelling policies in the state due to hurricane claims. Together, the three insurers will either cancel or not renew over 53,000 policies starting in June. These Florida property insurance cancellations are occurring just before the start of the 2021 hurricane season. Affected customers will be receiving a letter to advise them of the fact that their policies will…
Read More