With hurricane season weeks away, Florida homeowners are watching Washington amid uncertainty over the future of FEMA’s National Flood Insurance Program, which helps millions recover after floods.
Jacksonville ranks third in financial distress according to a new WalletHub survey, highlighting concerns over credit scores, debt, and housing costs. The city’s rapid growth and rising rent prices contribute to the challenges facing residents.
The rising cost of home insurance has prompted some families to leave Florida and also led to an increase in homeowners deciding not to insure their homes, citing the high price of premiums.
A recent survey by the Insurance Information Institute shows an alarming trend that 15% to 20% of Florida homeowners are scrapping coverage and self-insuring their homes.
Florida property insurance experts say the approval of four insurance companies to take as many as 125,000 policies from Citizens Property Insurance is another sign the state is headed in the right direction.
Property insurance customers of the state-backed insurance company Citizens are getting a pleasant surprise as they learn there is a decrease in property insurance premiums.
Florida lawmakers are in a second special session devoted to the topic of homeowners insurance. Lawmakers are considering legislation to help private insurance companies.
