Florida property insurance premiums Archives

Can Floridians afford another 40% property insurance rate hike?

May 25, 2023May 24, 2023 Nordstrom

Some experts are saying that premiums could experience another massive spike this year. Homeowners in Florida are already paying some of the highest property insurance rates in the United States, but experts are cautioning that even these high levels are likely to see significant increases this year. Some homeowners are already paying three times the national average for their coverage. The Florida Legislature recently passed a number of measures in the hopes of making a long-term impact that will gradually reduce property insurance rates. That said, while those advantages have…

Florida home insurance customers to pay extra 1% emergency fee

April 19, 2023April 18, 2023 G. Turner

Property owners throughout the state will see the increase due to insurer insolvencies from hurricanes. Florida home insurance customers will be paying another 1 percent on top of their usual premiums in order to cover the cost of property insurer insolvencies caused to a certain extent by hurricane damage claims. This additional fee is being added to the already spiking rates being charged across Florida. Floridian consumers have been watching their home insurance premiums soar yet again as the state scrambles to try to prevent a full crisis in this…

Florida property insurance special session set to tackle crisis

April 28, 2022April 27, 2022 Nordstrom

Governor Ron DeSantis is calling lawmakers back in May to take on the market’s critical health. State Governor Ron DeSantis has announced that he will be calling a special Florida property insurance session in May, bringing lawmakers back to work to try to repair the worst components of the crisis. Atlantic Hurricane Season is rapidly approaching and the homeowners policy market is in a critical state. With Atlantic Hurricane Season about to start on June 1, the governor is holding a special legislative session in May to take on the…

DeSantis calls special session for Florida property insurance

April 21, 2022April 20, 2022 Nordstrom

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…