Charlie Crist in West Palm Beach: Resident shares home insurance woes
During a news conference hosted by former Gov. Charlie Crist, West Palm resident Phillip Levitt shared the difficulty of finding home insurance.
Andres Leyva, Palm Beach Post
When it comes to securing your piece of Florida paradise, property insurance is a critical component to protecting your investment. The Sunshine State’s unique geographic location makes it particularly susceptible to a variety of weather-related risks, including hurricanes, floods and even tornadoes. Thus, understanding the ins and outs of Florida property insurance is paramount for both homeowners and property investors.
The property insurance landscape in Florida is dynamic, influenced by factors such as market trends, regulatory changes and the frequency of natural disasters. Homeowners insurance typically covers damage caused by windstorms, hurricanes, lightning, and fire, but it’s important to review the policy details carefully to ensure comprehensive coverage. In addition, flood insurance may be required, especially for properties located in flood-prone areas.
Florida has seen changes in the property insurance market in recent years, with some insurers reducing coverage or increasing premiums due to rising claims and reinsurance costs. This has prompted homeowners to explore alternative options and ensure they have adequate coverage.
Navigating the Florida property insurance landscape requires careful consideration of various factors, including coverage options, premiums and mitigation strategies. By staying informed and proactive, homeowners can better protect their investments and enjoy peace of mind amid the ever-changing climate and dynamics of the Florida insurance market.
The Palm Beach Post editorial board and others have written about the Florida property insurance crisis. Here are those articles.
Florida property insurance is in crisis. The solution is simple.
They say that the more complex the problem, the easier it is to find a solution. Florida’s insurance crisis has turned into a nightmare for many homeowners, driving them out of the state. Home insurance premiums continue to rise amid limited competition in the market. Despite promises of reform, no substantial change has been made. It’s time for Florida to take action and make a few changes to its homeowners insurance program.
The solution? Read the full article: Florida property insurance is in crisis. The solution is simple.
Florida property insurance is getting more expensive. Status quo solutions fail homeowners.
Florida is not alone when it comes to property insurance. One in 13 homeowners in the United States is uninsured, according to a recent study by the Consumer Federation of America. Dropping your homeowner’s coverage or going bare is more than many elected officials want to believe.
Read the full article: Florida property insurance is getting more expensive. Status quo solutions fail homeowners
Florida officials too slow to overhaul homeowners insurance system
Why hasn’t Florida made significant changes to the policy governing Florida homeowner’s insurance companies? Citizens Property Insurance Corp. was established in 2002 to provide coverage to homeowners who could not find affordable insurance on the private market. However, the so-called “insurer of last resort” faces financial challenges and is often seen as a burden on Florida taxpayers. However, state lawmakers have yet to strike the right balance between ensuring access to insurance for all homeowners and maintaining a stable and competitive insurance market in the state.
Read full article: Florida officials too slow to overhaul homeowners insurance system
Palm Beach Post readers are talking about Florida’s property insurance crisis
Rising property insurance premiums have plagued many Palm Beach Post readers, who have expressed their feelings in Letters to the Editor in recent months. We are republishing several of these letters in an effort to keep the issue front and center for our state and federal officials who must deal with this growing crisis.
Property insurance letters.