Homeowners insurance in Florida could become more expensive

Florida Homeowners Insurance

Homeowners insurance rates may spike if new proposals are successful Homeowners insurance rates in Florida are expected to increase in the coming months depending on the fate of two proposals concerning the Florida Hurricane Catastrophe Fund (Cat Fund). The Cat Fund was established to ensure that homeowners insurance claims could be paid in the case of a severe hurricane. Because Florida is prone to such natural disasters, the fund was considered a viable form of protection for both consumers and insurance companies. Two new proposals aims to shrink the Cat…

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