THE chaos in the Florida property insurance market has engulfed most every homeowner in the state, myself included. In the six years that my husband and I have lived in our house in Orlando, our homeowners insurance bill has more than quintupled.
Florida’s vulnerability to hurricanes, problems with fraudulent roofing claims, and regulatory issues are big contributors to the state’s property-insurance crisis. National insurers barely have a presence in the state. Smaller insurers are folding up their tents, refusing to take on new customers or teetering on regulators’ watch lists. The ones that soldier on are charging rates three or four times the national average.
This story is from the September 2023 edition of Kiplinger's Personal Finance.
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This story is from the September 2023 edition of Kiplinger's Personal Finance.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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